Veteran filmmaker Vikram Bhatt, a name long associated with Bollywood thrillers and horror classics, is now at the centre of a real-life controversy that has sent shockwaves through the film industry. In a significant legal development, Bhatt and his wife, Shwetambari, have been sent to judicial custody by a court in Udaipur in connection with an alleged ₹30 crore fraud case. Their plea for interim bail on medical grounds was firmly rejected, marking a significant turning point in the high-profile investigation.
On Tuesday, the couple’s legal team approached the court seeking interim bail, citing medical reasons. Their counsel argued that temporary relief was necessary to allow both accused to undergo medical treatment. However, the court was unconvinced.
Speaking to news agencies, senior police officials confirmed that the court ordered judicial custody, following which Vikram Bhatt and his wife will be lodged at the Central Jail in Udaipur. This decision came shortly after the completion of their police custody period, which had begun earlier this month.
The case traces back to November 17, when an FIR was registered at the Bhopalpura police station in Udaipur. The complaint was filed by Dr Ajay Murdia, a prominent entrepreneur and the founder of the Indira Group of Companies, which operates the well-known Indira IVF Hospital chain.
According to the FIR, Dr Murdia alleged that he was cheated of more than ₹30 crore under the pretext of film production. He claimed that Vikram Bhatt and his associates convinced him to invest heavily in a proposed biopic based on the life of his late wife.
What makes the case particularly sensational is the scale of the alleged promises. Investigators revealed that Dr Murdia was reportedly assured potential earnings of nearly Rs 200 crore from the project. The film, however, never gained traction, and despite substantial financial transactions, no tangible progress was made.
Police officials stated that when repeated assurances failed to materialise into an actual film project, the complainant grew suspicious and eventually approached law enforcement authorities.
Vikram Bhatt and Shwetambari were arrested in Mumbai on December 7 and subsequently brought to Udaipur by the Rajasthan Police. They were produced before a local court the following day and initially remanded to police custody on December 9 for seven days.
During this period, investigators questioned the couple and examined financial records linked to the alleged fraud. Police sources have indicated that the money was allegedly siphoned off through fake bills and manipulated transactions, raising serious questions about financial misconduct.
According to officials familiar with the probe, the accused, along with six others named in the FIR, allegedly generated fake invoices to divert funds. These bills were reportedly shown as expenses related to film development, pre-production, and other allied activities that never actually took place.
Investigators believe the fraud was carefully planned, with repeated assurances given to the investor to maintain trust while funds were gradually siphoned off.
For Vikram Bhatt, whose career spans decades and includes several commercially successful films, the allegations represent a dramatic fall from grace. Known for shaping the horror genre in Hindi cinema, Bhatt has remained a familiar face in the industry both as a director and producer.
The case has sparked widespread debate within Bollywood circles, with many calling for greater transparency and accountability in film financing. Industry insiders say the episode serves as a cautionary tale for investors who are often lured by big promises and star power without adequate safeguards.
With the court ordering judicial custody, the investigation now enters a crucial phase. Police are expected to continue examining financial trails, bank statements, and communication records involving the accused and other co-accused.
Legal experts suggest that the denial of interim bail indicates the court’s view on the seriousness of the allegations. While the defence may approach higher courts for relief, the prosecution appears determined to build a strong case backed by documentary evidence.
Beyond the immediate legal battle, the Vikram Bhatt fraud case has broader implications for the film industry’s business ecosystem. As film projects increasingly rely on private investors and high-value funding, cases like this highlight the risks involved when due diligence is overlooked.
For now, all eyes remain on the Udaipur court and the next steps in the investigation. Whether this case results in convictions or acquittals, it has already become one of the most talked-about legal controversies involving a Bollywood filmmaker in recent years.
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Akanksha Sinha
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