On Saturday, police sent notice to the managing director of ECL Finance, seeking information on various aspects pertaining to loans sanctioned to art director Nitin Desai. The MD of the company was asked to be present at the police station to submit the information by August 8.
Edelweiss denied allegations of wrongdoing in the case involving the suicide of Nitin Desai, an art director. The company stated that ECL Finance and Edelweiss Asset Reconstruction Company acted in full compliance with Indias Reserve Bank of India s regulatory framework for recovering non-performing asset accounts. Edelweiss elucidated the background of the NDAWPL, which defaulted on its loans after facing financial difficulties in 2019.
Acting on the complaint of late Nitin Desai's wife Neha Desai, Raigad Police has registered an FIR against five persons for alleged abetment of suicide. Trigger warning: This article contains descriptions of self harm.