Post by : Meena
Hassan
Filmmaker Vikram Bhatt along with his wife, Shwetambari Bhatt, were taken into custody last week due to their involvement in a notorious fraud case. The couple was denied bail on medical grounds by a court on Tuesday, maintaining their detention as authorities compile a chargesheet related to the ₹30 crore fraud.
The Udaipur Court, presided over by the Additional Senior Civil Judge and Additional Chief Magistrate, mandated seven days of police custody for the couple amidst the ongoing IVF fraud investigation.
Details of the Fraud Case
The allegations surfaced from businessman Dr. Ajay Murdia, who claimed he was first introduced to Dinesh Kataria at an event, where Kataria proposed a biopic about Murdia’s wife. This led to an April 24, 2024 meeting in Mumbai with Vikram Bhatt to discuss the project.
The FIR indicates that Bhatt and his wife allegedly guaranteed Dr. Murdia substantial returns if he invested an initial ₹7 crore, assuring they could create four films for ₹47 crore, with projected profits between ₹100–200 crore.
However, Murdia later alleged that over ₹30 crore was misappropriated by the couple through deceptive promises regarding the film ventures, with law enforcement stating that fraudulent invoices and documents were used to mislead investors.
Denial of Medical Bail
Both Vikram and Shwetambari were arrested on December 7 and initially held in judicial custody. Their request for interim bail on health grounds was turned down by the court. Udaipur DSP Suryaveer Singh confirmed their continued detention, indicating they would be moved to Udaipur Central Jail.
This incident has triggered significant debate within the film industry regarding investment-related fraud, quickly gaining traction on social media and emphasizing the dangers linked to high-stakes film investments.
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