In a major initiative that came four months after its take-over, the Maharashtra government has sanctioned Rs 130 Crore to revive the iconic ND Studio—founded by national-award winning Art Director Nitin Chandrakant Desai at Karjat in the Raigad district—and run it on the lines of the Film city in Mumbai.
Located 60 km away from downtown Mumbai, the sprawling 45 acre-ND Art World studio complex at Karjat in Raigad district—which was founded Nitin Desai in 2005—was taken over in November 2024 by the state-run Maharashtra Film, Theatre and Cultural Development Corporation (MFTCDC) after the National Company Law Tribunal (NCLT) approved the resolution plan.
The debt-trapped Nitin Desai—who had worked as a creative director for iconic films like “Devdas”, “Lagaan”, “Jodhaa Akbar”, “Hum Dil De Chuke Sanam” and Prem Ratan Dhan Payo”, was found hanging at his studio in Raigad district of Maharashtra on August 2, 2023. After Nitin Desai’s suicide, his uncle Shrikant Desai had approached the Maharashtra government for revival of the ND Studio.
In a message posted on “X” about the Maharashtra government’s decision to sanction Rs 130 crore for revival of ND Studio, chief minister Devendra Fadnavis wrote: “The Maharashtra Government has entrusted ND Art World, founded by legendary art director Nitin Desai, to Filmcity Mumbai for operation. A Rs 130 Crore package—Rs 120 Crore for development and Rs 10 Crore for operations—has been allocated to preserve this cultural landmark”.
Fadnavis, who earlier presided over a meeting of the State Cultural Affairs department — said, “With these initiatives, Maharashtra continues to strengthen its film industry, cultural heritage, and sustainable infrastructure, fostering growth and innovation in the sector”
Fadnavis and his two deputy chief ministers Eknath Shinde and Ajit Pawar, who were among those present at the meeting – handed over a cheque of Rs 130 Crore to MFTCDC’s Managing Director Swati Mhase Patil.
The MFTCDC—which runs the Dadasaheb Phakle Chitranagari known popularly known as the Film City at Goregaon (East) in north Mumbai – will execute the various initiatives relating to the revival of the ND Studio.
Under the proposed take-over deal, the state government will take over the ND Art World studio complex, after paying off all the dues, creditors, lenders and others. It plans to revive the studio complex to its original glory. The vicinity has now been classified by the state government as a ‘no-development zone’ for any private projects.
It may be recalled that a week after the National Company Law Tribunal (NCLT) ordered the initiation of Corporate Insolvency Resolution Process (CIRP)” against his company over repayment of accumulated debt totalling to
Rs 252.48 Crore, Nitin Desai was found hanging at his ND Studios at Karjat in Raigad district.
The NCLT—which subsequently initiated Corporate Insolvency Resolution Process (CIRP) against ND Studio due to a debt of Rs 252.48 Crore—had on July 25 2023 had appointed Jitender Kothari as the interim resolution professional to carry out the steps mentioned under the Insolvency and Bankruptcy Code, 2016.
