'Naagzilla' ₹4cr fraud case: Court denies bail to 3 executives
What's the story
A Mumbai sessions court has denied anticipatory bail to three executives of a film production company who are accused of embezzling over ₹3.92 crore from the funds for the upcoming film Naagzilla. The court's decision was based on the belief that there is enough evidence against them to warrant their involvement in this offense, reported PTI. The accused are consultant and signing authority Kuldeep Singh Champawat, service provider and executive producer Mahipal Karan Rathore, and line producer Shivkumar Tiwari.
Judicial remarks
Court emphasized necessity of custodial interrogation
Additional Sessions Judge M Mohiuddin, who presided over the case at Dindoshi court, emphasized that custodial interrogation of the accused was essential for a comprehensive investigation.
The court stated that such an interrogation is necessary to thoroughly probe into the matter and unearth any hidden facts.
The complaint was filed by Tukaram Mahadev Sawant, an accountant at Mahaveer Jain Films Pvt Ltd, which is headed by Mahaveer Jain and his wife, Neetu Jain.
Fraud details
Accused allegedly received commissions and mobile handsets from vendors
The accused are alleged to have inflated a vendor's bill from ₹85,000 to ₹1.3 lakh and paid ₹45,000 to a company called ANM Global that provided no services for the film.
They also allegedly cleared over ₹1.5 lakh in fake bills prepared with the help of a production assistant.
The investigating officer informed the court that the accused received commissions and mobile handsets from vendors in exchange for awarding contracts and clearing bills.
Film details
About the film 'Naagzilla'
The film Naagzilla, which stars Kartik Aaryan and is co-produced by Karan Johar's Dharma Productions and Mahaveer Jain Films, has been mired in a financial scandal.
The movie has a budget of ₹82.5 crore and is directed by Mrighdeep Singh Lamba. It also features Gautam Mehra as the writer.
The film is set to hit theaters in February 2027.