The Rajasthan High Court has once again rejected the bail plea of filmmaker Vikram Bhatt and his wife, Shwetambari, in connection with an alleged ₹30 crore fraud case. The court's decision, delivered on Monday, January 5, 2026, underscores the seriousness with which it views the accusations against the couple.
Vikram Bhatt and Shwetambari are currently in judicial custody following allegations of defrauding Udaipur-based businessman Dr. Ajay Murdia, the founder of Indira Group of Companies, of ₹30 crore. Dr. Murdia filed a complaint alleging cheating and criminal breach of trust, claiming that funds were misappropriated from a film project to be produced by him. According to Murdia, he paid approximately ₹30 crore to Vikram Bhatt for producing films, including a biopic about his wife, Indira, with promises of ₹100-200 crore in profits.
The High Court's decision to deny bail was based on the observation that the case appears to involve more than just a breach of contract. Justice Sameer Jain, while refusing to interfere, stated that the matter "prima facie involves deliberate diversion and misappropriation of funds". The court further noted a "lack of transparency and elements of dishonesty" in the handling of the funds. The preliminary inquiry reportedly revealed evidence of fake invoices and the circulation of funds.
Bhatt sought to quash the FIR, arguing that the case was civil in nature rather than criminal. However, the court was unpersuaded, emphasizing the serious nature of the allegations and the evidence suggesting deliberate financial malfeasance. The court stated that the allegations extend beyond mere non-performance of a contract.
Prior to the Bhatts, co-producer Mehboob Ansari and vendor Sandeep were also arrested. Vikram and Shwetambari were apprehended in Mumbai on December 7 and taken to Udaipur to appear in court. Their initial request for bail on medical grounds was also denied, leading to their continued judicial custody.
The Rajasthan High Court's rejection of the bail plea indicates that the legal proceedings against Vikram Bhatt and his wife are expected to continue. The court has allowed the police investigation to proceed, suggesting that further scrutiny of the financial transactions and project development is warranted. This could potentially lead to another criminal investigation if new evidence surfaces that supports the claims of fund diversion and misappropriation.
