Nitin Desai Death: Art director took loan of Rs 180 cr, mortgaged land and properties to repay debt

Nitin Chandrakant Desai. Pic/Google

The news of veteran art director Nitin Chandrakant Desai's death by suicide shook the film industry. He was reportedly found hanging within the premise of his ND Studios in Karjat, Maharashtra. While his untimely death is being investigated by the cops, reports claim that Nitin allegedly died by suicide due to a financial crisis. According to a report by India Today, the art director had taken a loan of Rs 180 crores from a finance company.

A source close to the development told the portal that Nitin had also mortgaged his land and other properties. Reportedly, he was unable to pay the loans and was in huge debt. The report further stated that the company sent a letter to the collector and proposed to recover the money that the art director took from them.

While Nitin's family is yet to verify the report, a local BJP MLA from Karjat, Mahesh Baldi, confirmed that he died by suicide due to a financial crisis. In a statement, he said, "Nitin Desai's ND studio comes in my constituency, the financial crisis was going on for many days, and due to that, he committed suicide in ND studio this morning." Amid speculations, Somnath Gharge, Superintendent of Police, Raigad, told India Today, "We are investigating from all angles."

Nitin passed away at around 4.30 am this morning. His death came a few days before his 58th birthday on August 9. An official statement from his family is awaited. Details about his last rites are yet to be shared.

Nitin had an illustrious career as an art director. He worked with eminent filmmakers like Ashutosh Gowarikar, Vidhu Vinod Chopra, Rajkumar Hirani, and Sanjay Leela Bhansali to create gorgeous and lavish sets. In 2002, he launched his own production house called Chandrakant Productions and produced the devotional film titled Desh Devi. ND Studios was established in 2005. The lavish property in Karjat had sets of Jodha Akbar, Traffic Signal, Bajirao Mastani, Prem Ratan Dhan Payo and even Salman Khan's Bigg Boss.

Apart from being an art director, Nitin acted in a couple of films, including the Marathi cult classic, Balgandharva (2011).