Vikram Bhatt and Shwetambari Bhatt Granted Bail in Biopic Fraud Case

Filmmaker Vikram Bhatt and his wife Shwetambari Bhatt have been granted bail by the Supreme Court of India after spending several weeks in jail. This decision comes in connection to a multi-crore cheating case regarding a proposed biopic.

The couple was arrested by Rajasthan Police last December and detained in Jodhpur Central Jail. The case was initiated by Ajay Murdia, who alleges that he was misled into investing over ₹30 crore in a biopic about his late wife, with promises of high returns that never materialized.

The Supreme Court, led by Chief Justice Surya Kant, overturned the previous decision of the Rajasthan High Court that denied bail. The court noted that the dispute seemed to stem from a commercial transaction and suggested mediation as a resolution.

The court stated, "While the FIR mentions elements of cheating, the matter appears primarily commercial. Mediation could be beneficial for both parties." The Bhatts are now expected to explore an amicable settlement with Murdia.

During the hearing, Vikram Bhatt's counsel argued that the filmmaker was utilizing the funds to complete ongoing film projects, while the complainant's lawyer highlighted another FIR against Bhatt in Mumbai.

The allegations of investment fraud surfaced late last year, leading to the couple's arrest. With the Supreme Court's ruling, they are now free on bail but must continue to address the case as both sides prepare for mediation in the coming weeks.