Filmmaker Vikram Bhatt and his wife, Shwetambari Bhatt, will remain in jail after the Rajasthan High Court rejected their bail applications in connection with an alleged ₹30 crore fraud case. The decision, delivered by Justice Vinod Kumar Bharwani, underscores the court's concern that granting bail at this stage could impede the ongoing investigation. The Bhatts, along with other co-accused, face allegations that extend beyond a simple contractual dispute, suggesting deliberate diversion and misappropriation of funds.
The case was brought to light following a complaint filed on November 17, 2025, by Dr. Ajay Murdia, the owner of Indira Group of Companies (Indira IVF) in Udaipur. Dr. Murdia alleges that he was defrauded of approximately ₹30 crore intended for film production, including a biopic of his wife. According to the FIR, Dr. Murdia was introduced to Vikram Bhatt and discussions took place regarding the film project after meeting Dinesh Kataria. He claims that despite funds being disbursed as per the agreement, the film projects never materialized, and substantial amounts were instead transferred to unrelated parties.
The prosecution's case is built on the premise that the Bhatts allegedly generated fake invoices under different names and induced the complainant to transfer large sums of money. It is alleged that funds were then deposited into their personal accounts and utilized for their own benefit, including debt repayment. The Special Public Prosecutor (SPP) informed the court that the accused collectively received ₹4,23,13,424 from the complainant through multiple accounts, with ₹1,65,69,955 allegedly deposited directly into their own accounts and misused.
The Rajasthan High Court's decision to deny bail considered the serious nature of the accusations and the potential for the accused to obstruct the investigation. The SPP argued that releasing the Bhatts on bail could lead to them pressuring witnesses and interfering with the probe. Justice Sameer Jain had earlier observed that the case appeared to involve dishonesty and a lack of transparency, rather than a mere breach of contract and the preliminary inquiry revealed evidence of fake invoices and the circulation of funds.
Vikram Bhatt's legal team had argued that the dispute was civil in nature, arising from an agreement to make four films, and should not attract criminal proceedings and that the appropriate venue for resolving such issues was Mumbai, not Udaipur. Prior to the bail hearing, Bhatt's legal team had filed a petition in the high court aimed at quashing the FIR, arguing that the matter was a civil dispute rather than a criminal one. However, the court countered this claim, stating that the situation involved misappropriation of funds, thus extending the police investigation. The court rejected this argument, emphasizing the allegations of deliberate diversion and misappropriation of funds.
The Bhatts were arrested in Mumbai in early December 2025 and subsequently produced before a court in Udaipur. Their initial request for anticipatory bail had also been rejected by the Bombay High Court. Following the denial of bail by the Udaipur court, Vikram Bhatt's lawyer stated that a fresh bail plea would be filed in the sessions court. However, with the Rajasthan High Court also denying bail, the couple remains in judicial custody as the investigation continues. Co-producer Mahboob Ansari and a vendor named Sandeep were also arrested in connection with the case.
