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In a major development in the Rs. 30-crore fraud case involving filmmaker Vikram Bhatt, a court in Udaipur on December 24 rejected the bail applications of Bhatt and his wife, Shwetambari Bhatt. This marks the second time that the court has turned down their plea for bail, citing the need for further investigation in the matter.
Court rejects Vikram Bhatt and wife Shwetambari Bhatt’s bail again in Rs. 30 crore fraud case
According to court observations, the probe is still at a crucial stage, with the possibility of more arrests and interrogations. Given the seriousness of the allegations and the ongoing investigation, the court held that granting bail at this juncture would not be appropriate.
The case was filed by Udaipur-based Dr. Ajay Murdia, founder of the Indira Group of Companies, who has accused the Bhatt couple and others of cheating him of approximately Rs. 30 crore. Dr. Murdia alleged that he had invested the amount with Vikram Bhatt for the production of multiple films, including a biopic based on his late wife, Indira. He further stated that he was promised profits ranging between Rs. 100 crore and Rs. 200 crore, but no returns materialised, prompting him to approach the authorities.
The investigation has already led to multiple arrests. Co-producer Mehboob Ansari and a vendor identified as Sandeep were taken into custody prior to the arrest of the Bhatt couple. Vikram Bhatt and Shwetambari Bhatt were arrested in Mumbai on December 7 and subsequently produced before a court in Udaipur on December 9. They were initially sent to police custody before being remanded to judicial custody for 14 days.
The case first came to light after Rajasthan Police detained the couple in Mumbai in connection with the cheating allegations. At the time, Udaipur Police had sought a transit remand to bring them to Rajasthan for further investigation. Police officials had then indicated that the accused were required for questioning in relation to the alleged financial irregularities.
The FIR in the case was registered at the Bhopalpura police station in Udaipur under charges of cheating and other relevant offences. Investigators are currently examining financial transactions, agreements, and the alleged misuse of funds, while also questioning other individuals linked to the project.
Neither Vikram Bhatt nor Shwetambari Bhatt has issued an official statement addressing the allegations so far. With the court refusing bail once again, the case continues to unfold, and further developments are expected as the investigation progresses.
Also Read: Vikram Bhatt and wife Shwetambari sent to 7 days’ police custody in fraud case
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