Rajasthan High Court Denies Bail to Vikram Bhatt and Shwetambari Bhatt in Fraud Case
The Rajasthan High Court has rejected the bail plea of filmmaker Vikram Bhatt and his wife, Shwetambari Bhatt, in connection with a significant fraud case involving allegations of misappropriation of funds amounting to Rs 30 crores. The couple is currently in judicial custody as the investigation continues.
Details of the Case
The couple had filed a petition seeking bail and the quashing of the First Information Report (FIR) lodged against them. However, the court declined their request, allowing the police investigation to proceed. The decision was made by Justice Sameer Jain, who noted that the allegations against the Bhatts extend beyond a simple contractual dispute.
Allegations Against the Bhatts
- The case involves allegations of deliberate diversion and misappropriation of funds.
- Evidence suggests the existence of fake invoices and improper circulation of funds.
- The FIR was filed by Udaipur-based businessman Dr. Ajay Murdia, who claims he was defrauded of Rs 30-40 crores.
- The funds were intended for film production, including a biopic on Dr. Murdia's wife.
Legal Arguments
Vikram Bhatt's legal team argued that the matter is primarily civil in nature, stemming from an agreement to produce four films. They contended that such disputes should be resolved in Mumbai rather than Udaipur. However, the court found that the allegations indicate dishonesty and a lack of transparency, which warranted criminal proceedings.
Judicial Proceedings
The couple was arrested in Mumbai in early December and subsequently presented before a court in Udaipur. Their earlier request for anticipatory bail was denied by the Bombay High Court. With the Rajasthan High Court's refusal to interfere with the FIR and bail applications, the police investigation will continue as per standard legal procedures.
Conclusion
The Rajasthan High Court's decision to deny bail to Vikram Bhatt and Shwetambari Bhatt underscores the seriousness of the allegations against them. As the police investigation unfolds, further developments in this high-profile case are anticipated.
