Raigad, Aug 2 (IANS): Police have initiated an investigation into the circumstances leading to the death of renowned art director Nitin Chandrakant Desai, who was found hanging in his Karjat studios in Maharashtra Raigad in a case of suspected suicide on Wednesday.

Raigad Superintendent of Police Somnath Gharge who visited the huge ‘ND Art World Pvt Ltd’ studio premises, said that when the police team rushed there, they saw Desai’s body hanging there.

"The police were informed by a worker on the sets. When our team reached there they saw his body hanging there. We are investigating the case further to ascertain all the possible aspects," he said.

The SP added that forensic experts, fingerprint teams, photographers, videographers and a dog squad were sent to the studio for the probe, even as locals and media persons thronged the venue from this afternoon.

The police got the first call from a staffer who saw Desai hanging in a room in the studio premises and the investigators have recorded the statements of attendants, workers and caretakers working there.

It has now emerged that Desai had been bogged down in a financial crisis over unpaid loans of around Rs.250 crore and insolvency proceedings ordered against him last month.

Some unconfirmed reports claimed that Desai, 57, has reportedly named some persons before his death, but police have not commented on it officially yet.

The celebrated art director’s sudden death was greeted with shock and disbelief in Bollywood, entertainment and political circles with leading personalities mourning his passing.