SC grants bail to Vikram Bhatt, wife in cheating case
What's the story
The Supreme Court of India has granted interim bail to filmmaker Vikram Bhatt and his wife Shwetambari in a cheating case involving a ₹30 crore investment. The couple was earlier denied bail by the Rajasthan High Court. The top court's decision on Friday came after it questioned the jurisdiction of Rajasthan in this case and observed that criminal proceedings should not be used as a means for financial recovery.
Next hearing
Notices issued to complainant, Rajasthan government
The Supreme Court has issued notices to complainant Ajay Murdia and the Rajasthan government for February 19. The court will next week examine a broader challenge to the High Court's order denying regular bail. The couple was arrested in December after Rajasthan Police took them from their Mumbai residence.
Case details
Case filed by Murdia
The case against the Bhatts was filed by Murdia, who alleged that they induced him to invest over ₹30 crore in a biopic project with promises of high returns. He claimed the promised profits never materialized, leading to allegations of cheating. The Rajasthan High Court had earlier denied bail to the couple, stating that granting bail at this stage would not be appropriate.
Defense argument
Financial dispute, argues Bhatts's lawyer
Senior Advocate Mukul Rohatgi, representing the couple, argued that the police had traveled to Mumbai for their arrest and that the dispute was primarily financial. He claimed Murdia wanted films made on himself and his late wife but the two films made did not perform well. "Both movies flopped. It is not my fault. You cannot put the director and his wife in jail," he argued.
Allegations
Murdia's allegations against the Bhatts
Murdia, the owner of Indira IVF and a former partner in Indira Entertainment LLP, Udaipur, alleged that the Bhatts misappropriated funds taken in the name of a film project. He claimed they prepared fake bills under various names to get money transferred from him. Apart from Bhatt and Shwetambari, Udaipur-based Dinesh Kataria and Bhatt's manager Mehboob Ansari were also arrested by Rajasthan Police on December 7.