Broad relativistic iron lines from neutron star X-ray binaries are important probes of the inner accretion disk. The X-ray reflection features can be weakened due to strong magnetic fields or very low iron abundances such as is possible in X-ray binaries with low mass, first generation stars as companions. Here we investigate the reality of the broad iron line detected earlier from the neutron star low mass X-ray binary 4U~1820--30 with a degenerate helium dwarf companion. We perform a comprehensive, systematic broadband spectral study of the atoll source using \suzaku{} and simultaneous \nustar{} \& \swift{} observations. We have used different continuum models involving accretion disk emission, thermal blackbody and thermal Comptonization of either disk or blackbody photons. The \suzaku{} data show positive and negative residuals in the region of iron K band. These features are well described by two absorption edges at $7.67\pm0.14\kev$ and $6.93\pm0.07\kev$ or partial covering photoionized absorption or by blurred reflection. Though, the simultaneous \swift{} and \nustar{} data do not clearly reveal the emission or absorption features, the data are consistent with the presence of either absorption or emission features. Thus, the absorption based models provide an alternative to the broad iron line or reflection model. The absorption features may arise in winds from the inner accretion disk. The broadband spectra appear to disfavour continuum models in which the blackbody emission from the neutron star surface provides the seed photons for thermal Comptonization. Our results suggest emission from a thin accretion disk ($kT_{disk} \sim 1\kev$), Comptonization of disk photons in a boundary layer most likely covering a large fraction of the neutron star surface and innermost parts of the accretion disk, and blackbody emission ($kT_{bb} \sim 2\kev$) from the polar regions.
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