Filmmaker Vikram Bhatt and his wife Shwetambari Bhatt have suffered a major legal setback after the Rajasthan High Court rejected their bail plea in connection with an alleged ₹30 crore fraud case filed by a Rajasthan-based businessman.
The couple, who were arrested earlier this month by Rajasthan Police in Mumbai, remain in judicial custody as the investigation continues.
What the High Court said
According to the latest court order, the Rajasthan High Court declined to quash the cheating FIR lodged against Bhatt and others, observing that the allegations go far beyond a simple business dispute.
The court noted that the case prima facie indicates deliberate diversion and misappropriation of funds, making it necessary for criminal investigation to proceed. The judge reportedly highlighted concerns around lack of transparency, dishonest intent, and circulation of funds through fake invoices, strengthening the prosecution’s case at this stage.
In its remarks, the court made it clear that the matter cannot be treated as mere non-performance of a contract.
Arrest and custody details
Vikram and Shwetambari Bhatt were arrested on December 7 and taken to Udaipur, where they were produced before a local court. An earlier request for interim bail on medical grounds was also rejected, following which the court ordered that the couple remain in judicial custody.
Police officials confirmed that the two have now been sent to Central Jail, Udaipur.
The fraud allegations explained
The case stems from a complaint filed by Dr Ajay Murdia, founder of the Indira Group of Companies. According to the FIR registered at Bhupalpura police station, Dr Murdia alleged that Vikram Bhatt and his associates convinced him to invest over ₹30 crore in a film project.
The project was reportedly pitched as a biographical tribute to Dr Murdia’s late wife, with assurances that it could generate returns of up to ₹200 crore. The complainant has alleged that the funds were later misused and diverted, prompting him to approach the police.
What lies ahead
With the High Court refusing bail and flagging serious financial irregularities, the case is expected to move into a deeper phase of investigation. Legal experts suggest that the court’s observations could make it difficult for the accused to secure relief in the near future.
Final words
For Vikram Bhatt, known for his long career in Bollywood, the rejection of bail marks another blow in an increasingly serious legal battle. As the probe continues, all eyes will be on how investigators trace the alleged money trail — and whether further charges emerge.
