Filmmaker Vikram Bhatt Arrested: Accused of fraud of Rs 30 crore, arrested from sister-in-law’s house in Mumbai

Filmmaker Vikram Bhatt arrested: Filmmaker Vikram Bhatt has been arrested by the joint team of Mumbai and Rajasthan Police in an alleged fraud case of ₹30 crore. The arrest took place on Sunday from Bhatt’s sister-in-law’s house on Yari Road in Mumbai.

Bhatt is accused of cheating a Udaipur businessman by promising to make a film and allegedly embezzling funds. Rajasthan Police is now going to produce him in Bandra Court to take transit remand and take him to Udaipur for further investigation.

Owner of Indira IVF filed a case

This case was registered on November 17 on the complaint of Dr. Ajay Murdia, owner of Indira Group of Companies (Indira IVF). He has accused Vikram Bhatt and seven others of defrauding him by luring him to invest huge sums in film projects, which were never completed.

According to the complaint, Dr. Murdia first met Dinesh Kataria at an event, who proposed making a biopic on Murdia’s wife. Kataria claimed that this film will showcase his contribution at the national level.

Meetings, Film Contracts and Money Transfers

Later Dr. Murdia was called to Vrindavan Studio in Mumbai on April 24, 2024, where he met Vikram Bhatt. During the conversation, Bhatt reportedly assured him that he would take full responsibility of making the film, while Murdia would only have to send the money.

Bhatt is said to have told Murdia that his wife Shwetambari Bhatt and daughter Krishna are also involved in making the film. Two films named ‘Bionic’ and ‘Maharana’ were discussed, and a contract worth ₹40 crore was signed. Bhatt’s wife’s firm, VSB LLP, was made a partner in the project.

On May 31, 2024, ₹2.5 crore was transferred to Bhatt through RTGS. Soon after, another ₹7 crore was demanded, claiming that four films totaling ₹47 crore would yield a profit of ₹100–200 crore.

Suspicion of fake vendors and misuse of money

As stated, Dr. Murdia made online payments to several vendors. On July 2, 2024, Indira Entertainment LLP was registered, and payments were also made from its account.

During initial investigation, the police found that the vendors receiving payments were allegedly fake, some of whom were allegedly involved in professions like painting and driving auto-rickshaws. Investigators claim that after the payment was made, a large portion of the money was transferred to an account linked to Bhatt’s wife.

Lookout notice was issued earlier

About a week ago, the Udaipur Police had issued a Lookout Circular (LOC) against Vikram Bhatt, Shwetambari Bhatt and six other accused. Notices were also issued to all the accused directing them to appear before the Udaipur Police by December 8, and barring them from traveling abroad without permission.

Vikram Bhatt denied the allegations

Earlier, Vikram Bhatt denied receiving any police notice and claimed that he came to know about the case from media reports. Speaking to ANI he said:

“I believe that the Rajasthan Police is being misled. I have not received any notice or letter. If such allegations are being made, they should be accompanied by written evidence. Otherwise, the police would not have registered such cases.”

Bhatt further questioned that if the complainant felt that he was being cheated, then why did he say yes to so many projects.

Bhatt claims he has proof

The filmmaker said that he has been a part of the film industry for more than 30 years and he has never faced such allegations. He also claimed that the delay in a film was caused by business decisions taken by the complainant, including issues related to a proposed IPO.

Bhatt further said that he has emails, contracts and documents to support his statement and said that the delay happened because the technicians associated with the film were not paid on time.

investigation ongoing

Rajasthan Police is continuing its investigation into the alleged fraud. Further information is expected after Vikram Bhatt is produced in the court and taken to Udaipur for questioning.