The Rajasthan High Court has rejected the bail plea of filmmaker Vikram Bhatt and his wife Shwetambari Bhatt in a fraud case registered in Udaipur. The couple, currently in judicial custody, had sought relief from the court including quashing of the FIR and interim release, but the bench rejected their plea, allowing the police investigation to continue.
Rajasthan High Court rejects bail plea of Vikram Bhatt and wife in Rs 30 crore fraud case
According to PTI report, the court’s decision came on Monday. According to the order, the allegations against Bhatt and other co-accused go beyond a mere contractual dispute and suggest “willful misappropriation and misuse of funds”. Justice Sameer Jain said that, prima facie, the case involved dishonesty and lack of transparency rather than mere breach of contract.
“The allegations are not limited to non-performance of the contract; they include deliberate misappropriation of funds, lack of transparency and elements of dishonesty. Preliminary investigation has revealed evidence of fake invoices and movement of funds.”
Bhatt’s legal team had argued that the dispute was essentially civil in nature, arising out of an agreement to make four films and therefore should not involve criminal proceedings. He also argued that the venue to resolve such contractual issues was Mumbai and not Udaipur.
The FIR was lodged by Udaipur-based businessman Dr Ajay Murdia, who alleged that he was defrauded of around Rs 30-40 crore for film production, including a planned biopic on his wife. He claimed that although funds were paid as per the agreement, the projects did not materialize and substantial amounts were transferred to unrelated vendors and parties.
Bhatt and his wife were arrested in Mumbai in early December and later produced in a Udaipur court. His first request for anticipatory bail was also rejected by the Bombay High Court. With the Rajasthan High Court refusing to interfere in the FIR and bail applications, the police investigation into the allegations will proceed as per standard procedures.
