Director Vikram Bhatt has been arrested by Rajasthan Police in connection with an alleged multi‑crore fraud case filed by Udaipur‑based IVF specialist Dr Ajay Murdia, who accuses the filmmaker and his associates of misusing funds meant for four proposed films, including a biopic on the doctor’s late wife. According to the FIR, Murdia says he was induced to invest more than ₹30 crore after being promised that the slate of films could generate profits running up to ₹200 crore, but only one project has reached release while the others remain incomplete or unshot.
Alleged film deals and money flow
Investigators say the dispute began after Murdia met Bhatt in Mumbai in April 2024 to discuss a tribute film celebrating his late wife Indira and his work in infertility treatment across India. The doctor claims that Bhatt later proposed an expanded plan covering four films, leading to a term sheet in May 2024 between Indira Enterprises and Bhatt’s firm VSB LLP for two projects costing ₹40 crore, which was followed by an additional agreement in June when the budget was raised to ₹47 crore.
Murdia alleges that he promptly transferred ₹2.5 crore and subsequently released payments that together crossed ₹42.7 crore as the slate progressed. However, vendor bills allegedly began arriving without his approval, and a later internal verification flagged payments to entities not linked to genuine production work, along with withdrawals via self‑signed cheques that he says diverted at least ₹2.45 crore to other films controlled by Bhatt.
Formation of new company and stalled projects
The FIR mentions that a new LLP named Indira Entertainment was created in July 2024, with Murdia and a family member of Bhatt listed as 50:50 partners to formally route the film ventures. All previous contractual terms were reportedly carried over, but despite this, only one film has been released so far, one is said to be complete but unreleased, a third remains partially shot, and the fourth has not gone on floors at all.
Murdia contends that whenever he questioned spending patterns or raised objections to allegedly inflated vendor claims, Bhatt’s team halted shooting schedules, which he interprets as pressure tactics to force further payments. He further alleges that additional demands of around ₹9–11 crore were made even after significant funds had already been paid, deepening his suspicion that the original promises would not be honoured.
#Vikram Bhatt Director & Producer/sbkinews.in
Arrest operation and current status
Rajasthan Police, working with Mumbai Police, detained Bhatt during a joint operation at a residence on Yari Road in Mumbai, identified in reports as belonging to a relative. Officers then produced him before a Bandra court, which granted transit remand so that he could be taken to Rajasthan for further interrogation in the case registered at Bhupalpura police station in Udaipur.
Along with Bhatt, his wife Shwetambari and several others have been named as co‑accused, with a lookout notice earlier issued directing them to appear before investigators and restricting foreign travel without permission. Police sources say they are now scrutinising bank records, vendor contracts and digital communication between the parties to determine whether the dispute amounts to criminal cheating and forgery or is primarily a commercial disagreement.
Industry reaction and legal next steps
Within the film fraternity, the arrest has sparked conversation about the risks of informal financing models where large investments are sometimes committed on the strength of personal relationships and projected box‑office numbers. Trade observers note that multi‑film deals involving private investors require strong compliance frameworks, clear milestone‑based payments and independent auditing to minimise such disputes and protect both creative teams and financiers. For more in-depth detail read here.
Bhatt and his legal team are expected to seek regular bail and may argue that delays or creative differences, rather than dishonest intention, lie behind the incomplete projects, though no detailed defence statement has been made public yet. For now, the case will likely hinge on how investigators interpret document trails, vendor flows and correspondence around the four films, which will determine whether the matter proceeds as a serious economic offence or moves toward civil arbitration and settlement.
For more important updates from the state, explore our latest Rajasthan news coverage.
