Nitin Desai suicide abetment case: Bombay High Court refuses immediate relief to Edelweiss CEO, Chairperson

The Bombay High Court today refused to grant immediate relief to Raj Bansal, managing director and Chief Executive Officer (CEO) of Edelweiss Asset Reconstruction Co. Ltd., and its chairperson, Rashesh Shah who have been booked for allegedly abetting the suicide of art director, Nitin Desai..Bansal and Shah (petitioners) moved the High Court with a plea to quash the first information report (FIR) filed against them for allegedly abetting Desai's suicide. Senior Advocate Amit Desai appeared for the petitioners and requested the Court to grant the Edelweiss CEO and chairperson protection from arrest till the next date of hearing. The Court, however, was not inclined to grant any relief. “Wait for a week. Next week we will consider”, the Court said. The Court will hear the plea for urgent relief on August 18. .A division bench of Justices Nitin Sambre and RN Laddha today also issued notice in the petition to Desai's wife, who had filed the FIR against the CEO, chairperson, and two others of the Edelweiss group.A response in the matter was sought from Desai's wife after Chief Public Prosecutor Aruna Pai informed the Court that she was a party to the petition..Pai has opposed the plea to quash the FIR, while contending that the FIR was filed only 8 days ago. The investigation in this case was at a very nascent stage, the Court was told. .Jitendra Kothari, the interim resolution professional (IRP) overseeing insolvency proceedings initiated in respect of Desai’s company, ND Art World, has also approached the Court. Kothari, represented by Senior Advocate Abad Ponda, requested the Court to issue directions so that his duties as the resolution professional proceed seamlessly. .Background.Indian art director, production designer, and film and television producer Nitin Desai died on August 2. After his death, his wife lodged a complaint against the management personnel of Edelweiss Asset Reconstruction Co. Ltd. accusing them of allegedly abetting his suicide. As per reports, the asset reconstruction company is accused of having mentally tortured Desai for the repayment of certain loans. The police invoked the offence of abetment of suicide under Section 306 (abetment of suicide) read with Section 34 (common intention) of the Indian Penal Code. The FIR was filed against Shah, Bansal, Kothari, and two others.On August 7, Bansal and Shah approached the High Court through advocate Madhur R Baya for quashing the FIR.Meanwhile, on July 25, the NCLT Mumbai admitted ND World (Desai's company) into insolvency proceedings over a ₹252 crore debt. Kothari was appointed as the IRP post this NCLT order.