In a major development at Rs. A Udaipur court on December 24 rejected the bail plea of Bhatt and his wife Shwetambari Bhatt in the Rs 30 crore fraud case involving filmmaker Vikram Bhatt. This is the second time that the court has rejected his plea for bail, citing the need for further investigation in the case.
The court again rejected the bail of Rs 50 thousand of Vikram Bhatt and wife Shwetambari Bhatt. 30 crore fraud case
According to the court’s observations, the investigation is still at a critical stage, and more arrests and interrogation are likely. Considering the seriousness of the allegations and the ongoing investigation, the court said that it would not be appropriate to grant bail at this time.
The case was filed by Udaipur-based Dr Ajay Murdia, founder of Indira Group of Companies, who has accused the Bhatt couple and others of defrauding them of nearly Rs. 30 crores. Dr. Murdia alleged that he had invested the amount for the production of several films with Vikram Bhatt, including a biopic based on his late wife Indira. He further said that he was promised profits between Rs. 100 crores and Rs. 200 crore, but did not receive any returns, prompting them to contact the authorities.
Several arrests have already been made in the investigation. Before the arrest of the Bhatts, co-producer Mehboob Ansari and a salesman named Sandeep were detained. Vikram Bhatt and Shwetambari Bhatt were arrested in Mumbai on 7 December and later produced in a Udaipur court on 9 December. He was initially sent to police custody before being sent to judicial custody for 14 days.
The matter first came to light when Rajasthan Police detained the couple in Mumbai on fraud charges. At that time, Udaipur Police had sought transit remand to bring him to Rajasthan for further investigation. Police officials had then indicated that there was a need to interrogate the accused in connection with the alleged financial irregularities.
The FIR in the case was registered at Bhopalpura police station in Udaipur under fraud and other relevant offences. Investigators are currently investigating financial transactions, agreements and alleged misuse of funds, as well as questioning other individuals associated with the project.
Neither Vikram Bhatt nor Shwetambari Bhatt have issued any official statement on the allegations so far. With the court once again refusing to grant bail, the case continues to open up, and more developments are expected as the investigation progresses.
