Rajasthan HC denies bail to Vikram Bhatt, wife in Rs 30 crore fraud case

Filmmaker Vikram Bhatt and his wife have suffered a major legal setback after the Rajasthan High Court rejected their bail pleas in connection with a ₹30-crore fraud case, ordering that they remain in judicial custody as investigations continue. The decision was delivered after the court heard detailed arguments from both the prosecution and the defence.

All about the case

The couple was arrested in December last year by Rajasthan Police and brought from Mumbai to Udaipur for questioning. Their arrest followed a complaint alleging financial irregularities related to film production and funding. Along with Vikram Bhatt and his wife, other individuals linked to the case, including close associates and managerial staff, were also taken into custody.

During the bail hearing, the prosecution strongly opposed granting relief, stating that the investigation is still at a crucial stage. It was argued that releasing the accused could interfere with the probe and potentially influence witnesses. Considering the seriousness of the allegations and the amount of money involved, the court observed that this was not an appropriate stage to grant bail.

The case stems from a complaint filed by entrepreneur Dr Ajay Murdia, who alleged that he was induced to invest approximately ₹30 crore in film projects that were either delayed or never completed as promised. According to the prosecution, the funds were meant for multiple film productions, but only a few projects were completed, while a significant portion of the investment remains unaccounted for. Investigators claim the money was diverted through various transactions that are now under scrutiny.

Recent developments on the case

The defence, however, has denied all allegations, maintaining that the dispute is purely commercial in nature and does not constitute criminal fraud. The Bhatt camp has argued that the investments were made with full knowledge of the risks involved in film production and that delays or financial losses are common in the industry. Despite these claims, the court found sufficient grounds to continue judicial custody.

The case has attracted widespread attention due to Vikram Bhatt’s prominence in the Hindi film industry. As the investigation progresses, authorities are expected to file a detailed chargesheet, which will determine the next course of legal action.