Vikram Bhatt Denied Bail in Multi-Crore Fraud Case by Rajasthan High Court
Rajasthan High Court rejects bail for filmmaker Vikram Bhatt, wife Shwetambari, and co-accused in ₹30 crore fraud case.
In a major development in a high-profile financial fraud case, the Rajasthan High Court on Friday rejected the bail applications of filmmaker Vikram Bhatt, his wife Shwetambari Bhatt, and another accused, Mehboob Ansari. The court observed that granting bail at this stage would be inappropriate as crucial aspects of the investigation are still underway. Justice Vinod Kumar Bharwani of the Jodhpur bench presided over the hearing.
The Special Public Prosecutor opposed the bail pleas, citing the need for further custodial interrogation and warning that releasing the accused could interfere with the ongoing probe. According to the prosecution, Vikram and Shwetambari Bhatt allegedly generated fake invoices under multiple names and induced the complainant, Dr. Ajay Murdia, owner of Indira IVF, to transfer substantial sums of money. The funds were reportedly deposited into their personal accounts and used for personal expenses, including repayment of debts.
The FIR, registered on November 17 at Bhupalpura police station in Udaipur, claims that the accused collectively received ₹4.23 crore through multiple accounts, with ₹1.65 crore allegedly misused. The complaint states that Vikram Bhatt and his associates promised to produce four films for ₹47 crore, assuring profits ranging from ₹100 crore to ₹200 crore. While two films were completed and released, the third film, Vishwa Virat, was reportedly only 25% complete, and production on the fourth, Maharana-Ran, had not commenced.
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The court also noted allegations that the accused had pressured witnesses, further justifying the denial of bail. In addition to Vikram and Shwetambari Bhatt, the FIR lists Krishna Bhatt, Dinesh Kataria, Mehboob Ansari, Mudit Buttan, Gangeshwar Lal Srivastava, and Ashok Dubey as co-accused. The total alleged financial irregularities amount to nearly ₹30 crore.
The High Court’s refusal to grant bail underscores the seriousness of the ongoing investigation and signals that authorities are closely scrutinizing all parties involved in the alleged multi-crore fraud. The case continues to draw attention due to its high-profile nature and the involvement of prominent film industry figures.
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