Mumbai: On Friday, Edelweiss ARC rejected that it had put pressure on Bollywood art director Nitin Desai to repay loans, hours after a case was lodged against its top officials for allegedly aiding his suicide.
The Asset Reconstruction Company stated that it did not charge Desai an unreasonable interest rate on the Rs 252 crore loan that he had defaulted on because it complied with all RBI regulations.
The firm issued a statement late at night claiming that "neither the interest rate charged was excessive nor was there at any time undue pressure placed on the borrower for recovery."—Inputs from Agencies
