Filmmaker Vikram Bhatt and his wife Shwetambari Bhatt were arrested on Sunday by a joint team of Mumbai and Rajasthan Police in connection with an alleged ₹30 crore fraud case. The couple was taken into custody from a residential apartment in Mumbai’s Yari Road area and will be produced before the Bandra court for transit remand before being shifted to Rajasthan.

The case has been registered on the complaint of Rajasthan-based industrialist and educationist Ajay Murdia, the founder and chairman of the Indira Group of Companies. Murdia is a well-known name in Rajasthan’s healthcare and education sectors and runs several hospitals and institutions across the state.

According to the FIR, Murdia was introduced to a man named Dinesh Kataria at a social event, who suggested making an inspirational biopic on the life of Murdia’s wife. It was claimed that such a film would bring national-level recognition to her work. Following this, on April 24, 2024, Murdia was invited to Vrindavan Studios in Mumbai, where he met Vikram Bhatt to discuss the project.

During the meeting, it was allegedly agreed that Bhatt and his team would take complete responsibility for the production, while Murdia would provide the funding. Two films, titled Bionic and Maharana, were proposed under Shwetambari Bhatt’s firm, VSB LLP. The total project cost was estimated at around ₹40–47 crore. An initial payment of ₹2.5 crore was made on May 31, 2024, after which further demands of ₹7 crore were raised. Murdia was reportedly assured that four films could generate profits between ₹100 and ₹200 crore.

Murdia later alleged that he was instructed to make payments directly to several vendors on the directions of the Bhatt couple. During a subsequent inquiry, many of these vendors were found to be fictitious, with some accounts allegedly linked to auto drivers and daily wage workers. It is further claimed that a significant portion of the funds was eventually transferred into Shwetambari Bhatt’s personal bank account.

Following the complaint, the Udaipur Police issued a lookout notice against six accused, including the Bhatt couple. However, Vikram Bhatt has denied receiving any official notice and has claimed the allegations are false. He has stated that he possesses documentary proof in the form of emails, contracts and communication records. Bhatt has also claimed that project delays occurred due to the complainant’s failure to release payments to technicians.