Mumbai: Phanindranath Kakarla, managing director of ECL Finance Limited of Edelweiss and three other representatives of the company appeared before Khalapur police on Tuesday in connection with their inquiry into the alleged suicide of film art director Nitin Desai. The questioning lasted for around eight hours on Tuesday.
They have been asked to appear before the police station on August 11 again as they could not present a few documents. A team of nine police officials enquired about the loan amount and other details.
Vikram Kadam, Divisional Police Officer, Khalapur and investigative officer confirmed that representatives of Edelweiss Group were present for the inquiry which continued till 6.30 pm on Tuesday.
3 other ECL finance officials appeared for questioning
While talking to FPJ, Kadam said that apart from MD Kakarla, three other representatives of the company appeared for questioning. “The managing director and three other officials appeared for questioning. They submitted a few documents. However, there were some incomplete documents and we asked them to come up with complete documents on August 11,” said Kadam.
Earlier, on August 5, the police issued a notice to the finance company for personal appearance on Tuesday.
Desai, 57, was found dead at his ND Studio in Karjat, around 80 km from Mumbai on August 2 morning. He was found hanging with a rope. Initially, an accidental death report (ADR) was registered at Khalapur police station and later based on the complaint of Neha Nitin Desai, wife of Desai, the Khalapur police registered an FIR against five persons on August 4.
The FIR named Edelweiss chairman Rashesh Shah, company official Smit Shah, another person named Keur Mehta, R K Bansal of Edelweiss Asset Reconstruction Company (Edelweiss ARC), and Jitender Kothari who has been appointed by the NCLT as an interim resolution professional.
Edelweiss ARC's clarification says it has not acted outside of legal framework
Earlier, Edelweiss ARC issued a clarification and refuted claims of pressure for loan recovery. It stated that it followed all legal processes as mandated by RBI and has not acted in any manner outside of the legal framework. Neither was the interest rate charged excessive nor was there at any time undue pressure being put on the borrower for recovery.
In a press statement, Mansi Desai, daughter of deceased Desai said that her father had no intention to cheat anyone and he was going to make all the payments that he promised. Due to the pandemic, there was no work and the studio was closed. And due to this, he was not able to make his regular payments. She also appealed to stop circulating fake messages.
