In a significant development in the entertainment industry, renowned filmmaker Vikram Bhatt was arrested on Sunday by a joint team of Mumbai and Rajasthan police. He faces serious allegations of defrauding an Udaipur-based businessman of a staggering Rs 30 crore. The arrest took place at the Ganga Bhavan Apartment in Mumbai's Yari Road area, which is reportedly the residence of his sister-in-law. The Rajasthan police are now preparing to apply for a transit remand at the Bandra Court to take Vikram Bhatt to Udaipur for further investigation into the matter.
The Allegations of Fraud and FIR
The entire case stems from an FIR filed by Dr. Ajay Murdia, the owner of Rajasthan's Indira Group of Companies. On November 17, Dr. Murdia lodged a complaint against Vikram Bhatt and seven other individuals, accusing them of a Rs 30 crore fraud. According to his complaint, the alleged deception began at an event where he met a person named Dinesh Kataria. Dinesh Kataria reportedly proposed the idea of making a biopic about Dr. Murdia's wife, suggesting that the film would highlight her significant contributions to the nation and bring her due recognition.
Meeting the Filmmaker and Contract Details
Following this proposal, Dinesh Kataria invited Dr. Ajay Murdia to Vrindavan Studio in Mumbai on April 24, 2024. It was there that Dr. Murdia was introduced to the acclaimed filmmaker Vikram Bhatt, while during their meeting at the studio, the plan for the biopic was discussed in detail. Dr. Murdia alleges that it was agreed during the conversation that Vikram. Bhatt would take full responsibility for the film's production, and Dr. Murdia would only be required to provide the necessary funds periodically, while this arrangement placed the financial investment burden squarely on Dr. Murdia, while the creative and production responsibilities were assigned to Vikram Bhatt.
Partnership and Film Agreements
Vikram Bhatt informed Dr. Ajay Murdia that his wife, Shwetambari, and daughter, Krishna, were also involved in the filmmaking industry, while based on this information, Vikram Bhatt included his wife Shwetambari's firm, VSB LLP, as a partner in the project. A formal contract worth Rs 40 crore was subsequently signed between. Them for the production of two films, titled 'Bionic' and 'Maharana'. This contract served as a formal agreement outlining the financial and production. Responsibilities of both parties, setting the stage for the alleged transactions that followed.
Payments and Alleged Financial Irregularities
As per the contract, an initial sum of Rs 2. 5 crore was transferred to Vikram Bhatt via RTGS on May 31, 2024. A few days later, a demand for an additional Rs 7 crore was made, and Dr. Murdia was informed that a total of four films would now be made for Rs 47 crore, with the promise of substantial profits ranging from Rs 100-200 crore. Acting on the instructions of Vikram Bhatt and his wife, Dr, while ajay Murdia made online payments to various vendors specified by them. This payment process was part of a larger financial scheme, allegedly designed to continuously induce Dr. Murdia to invest more money into the projects.
Discovery of Bogus Vendors
On July 2, 2024, Dr, while ajay Murdia also registered a firm named Indira Entertainment LLP. Approximately Rs 3 lakh was paid from this firm's account as well. However, preliminary investigations into the matter revealed a shocking discovery. It came to light that the vendors to whom payments were made from the Indira Entertainment account were, in fact, bogus. The investigation indicated that the recipients of these payments were ordinary individuals, such as painters or auto-rickshaw drivers, who had no direct connection to film production, while more alarmingly, a significant portion of these payments was allegedly transferred to Vikram Bhatt's wife's account after the initial transactions, further strengthening the suspicion of fraud.
Police action in this case had commenced earlier, with the Udaipur police issuing a lookout notice seven days prior against Vikram Bhatt, his wife Shwetambari Bhatt, and six other accused individuals. All accused were also served notices to appear before the Udaipur police by December 8 and were prohibited from traveling abroad without prior permission, while however, following the emergence of the case, filmmaker Vikram Bhatt had publicly denied the allegations. He stated that he had not received any notice regarding the matter and had only learned about it through media reports.
Vikram Bhatt's Counter-Arguments
In an interaction with ANI, Vikram Bhatt clarified his position, stating that he believes the Rajasthan police are being misled. He emphasized that he had received no letter, no notice, nothing at all. He questioned that if the complainant had made such claims, they should possess written proof, otherwise, the police wouldn't register such cases, while bhatt also asked why the complainant initiated so many films if he lacked understanding of the industry, and if he was indeed defrauding him, why would the complainant proceed with a third film? Vikram Bhatt further stated that he has been a part of the film industry for the past 30 years and has never experienced anything like this. He attributed the halt of one of his films, 'Virat,'. Midway to his company's business decisions, particularly the upcoming IPO. He also counter-alleged that the delay in the film being produced by complainant Ajay Murdia was because Murdia had failed to pay the technicians involved, while vikram Bhatt asserted that he possesses substantial evidence, including emails and contracts, to substantiate his claims.
