Discrimination of Edelweiss ARC between the borrower’s, - Nitin Desai owner of ND Studio скачать в хорошем качестве

Discrimination of Edelweiss ARC between the borrower’s, - Nitin Desai owner of ND Studio

Discrimination of Edelweiss ARC between the borrower’s, giving different treatment while settlement of loans of Nitin Desai owner of ND Studio and Bhumiraj Developers… Nitin Chandrakant Desai, a top Art Director in Bollywood committed suicide under the pressure of Edelweiss ARC for recovery of loan. He was a world-renowned art director known for his iconic movies like Lagaan, Devdas etc.. He borrowed around 180 Crore loan from Edelweiss for expansion in his existing studio facility located at Karjat. And, he was repaid around 86 Crores during the period. Due to COVID Pandemic and business slowing down, he couldn’t pay his dues instalments timely in 2020 and 2021, hence ARC declared him a defaulter and started a recovery process against him. More than 100 times he requested ARC and its MD and CEO Rashesh Shah for OTS, but the institution purposely never replied to him despite he was having bonafide investors with him. Finally, on that day, he lost his patience and committed suicide under the pressure and trauma of the institution destroying his long-made reputation and his dream project of ND Studio. In another case, a Navi Mumbai-based Real Estate Developer Bhumiraj also borrowed around 260 crores from Edelweiss for almost 6 – 7 years and he hardly repaid his due repayment installments. Now, in Bhumiraj's Loan account, the total outstanding is around 450 Crores. But, surprisingly institution is giving special treatment to Bhumiraj Developer and offering a very attractive settlement scheme. As per sources, it came to the knowledge that Edelweiss is offering him a settlement scheme at 390 Crores with the facility of 100 Crores upfront payment and the rest balance to be repaid in 3 years just with nominal interest at the rate of 9%. All these two cases are highly suspicious, look decrementing behaviour of the institution and violating RBI Norms. The case needs to transfer from the Police to another competent investigation agency like CID or CBI in favour of justice for Nitin Desai as well as bring out the truth from both cases of ND Studio and Bhumiraj and punish the responsible people