Mumbai – In a significant development for the Indian film industry, filmmaker Vikram Bhatt and his daughter, Krishna Bhatt, have been named in a new fraud case involving ₹13.5 crore. The case was registered at Versova Police Station in Mumbai, following a complaint by a businessman who alleges that the father-daughter duo cheated him.

According to the complaint, the businessman, Shivraj Prithviraj Khawade, a Pune-based film financier, was allegedly induced to invest a substantial amount in film projects with promises of high returns. The complainant stated that Vikram Bhatt and Krishna Bhatt accepted ₹13.50 crore from him in 2021, assuring profits within a specific timeframe. However, neither the principal amount nor any profit was returned despite repeated attempts to follow up.

Police sources indicate that the accused purportedly misled the complainant over the years, citing delays in film production and financial challenges. The complainant further alleges that the invested amount was neither used as promised nor refunded, even after four years.

Given the scale of the alleged fraud, the investigation has been transferred to the Economic Offences Wing (EOW) of the Mumbai Police. The EOW will be examining financial transactions, agreements, and other documentary records related to the alleged investments.

This new case adds to Vikram Bhatt's existing legal troubles. In December 2025, Bhatt and his wife, Shwetambari, were arrested by Rajasthan Police in connection with a separate case involving an alleged fraud of ₹30 crore. The couple was taken into custody from their Mumbai residence and subsequently produced before a court in Udaipur, where they were remanded to police custody.

The Udaipur case stems from a complaint by Dr. Ajay Murdia, founder of the Indira Group and Indira IVF, who alleged that Bhatt and his associates collected funds under the guise of producing a biopic about his wife. Dr. Murdia claimed he was assured that a ₹7 crore investment would result in multiple films with exceptionally high returns.

Investigators are now exploring whether multiple investors were similarly deceived with promises of high returns from film projects. Authorities conducted medical examinations of Bhatt and his wife following their arrest in the previous case and issued notices to additional suspects. The investigation in that matter focused on examining documentary evidence and tracing the flow of funds. Vikram Bhatt remains in custody for the ₹30 crore fraud case.