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No undue pressure exerted on Nitin Desai for recovery, says Edelweiss ARC
Updated On: 05 August, 2023 10:03 AM IST | Mumbai | mid-day online correspondent
Stating that it followed all legal processes mandated by the RBI, the Asset Reconstruction Company also clarified that Nitin Desai, who had defaulted on a Rs 252 crore loan, was not charged an excessive interest rate
Pic/Nitin Desai`s official Instagram account
Hours after a case was registered against its top officials for allegedly abetting the suicide of Bollywood art director Nitin Desai, Edelweiss ARC on Friday denied that it had put pressure on him for repaying loans, reported new agency PTI.
Stating that it followed all legal processes mandated by the RBI, the Asset Reconstruction Company also clarified that Nitin Desai, who had defaulted on a Rs 252 crore loan, was not charged an excessive interest rate.
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