The Bombay High Court began hearing arguments on Friday in the case against Raj Kumar Bansal, the Managing Director and CEO of Edelweiss Asset Reconstruction Company Ltd, and its chairperson Rashesh Shah, along with three others. They are accused of abetting the suicide of Nitin Desai, an art director in Bollywood. The five accused have filed quashing petitions against the FIR lodged by Desai’s widow over his suicide on August 2. Senior counsel Amit Desai, representing the Edelweiss top brass and employees, cited several judgments of the HC to argue that lenders have the legal right to take all steps available for the recovery of dues, and such actions cannot be construed as abetment of suicide. Desai also mentioned the Supreme Court order in Arnab Goswami’s case, where he was booked for abetment of suicide in a similar money recovery situation. Desai emphasized that the apex court has clearly defined the ingredients of such an offense, which means direct instigation. Desai expressed his condolences for Desai’s loss and stated that Mumbai is the financial capital of India, and it is important to protect the reputation of the city as a financial hub. He argued that cases like these, where the facts do not support the allegations, should not be permitted. In response to a query from the bench of Justice Nitin Sambre and Justice R N Laddha, Desai stated that the loan payments were regular until the end of 2018 for loans taken in 2016 and 2018. Problems arose thereafter. The loans were taken for general corporate purposes as well as capital for a theme park. The High Court will continue hearing the case on Monday. Nitin Desai was found dead the day after the National Company Law Appellate Tribunal (NCLAT) dismissed his appeal against the initiation of insolvency proceedings over his company ND’s Art World. Creditors Edelweiss had filed a company petition claiming recovery of over Rs 250 crore. Desai’s company had taken two loans worth Rs 181 crore.