Police arrested Vikram Bhatt and wife in December 2025; Supreme Court granted interim and later regular bail
New Delhi: The Supreme Court of India has granted regular bail to filmmaker Vikram Bhatt and his wife Shwetambari Bhatt in a ₹30 crore fraud and cheating case filed by Ajay Murdia, the founder of Indira IVF. While giving them relief, the court said the matter appears to be mainly a commercial dispute and asked both sides to try mediation to settle the issue.
A bench of Chief Justice of India Sanjiv Khanna, Justice Joymalya Bagchi and Justice Vipul M. Pancholi cancelled the Rajasthan High Court’s January 31 order that had refused bail to the couple.
How Case Started
The case began with a complaint filed at Bhupalpura Police Station in Udaipur, Rajasthan. Ajay Murdia said he had signed an agreement with Vikram Bhatt and Shwetambari Bhatt to make a biopic on the life of his late wife, Indira.
As part of the deal, they formed Indira Entertainment LLP and planned to produce four films. Murdia claimed he paid more than ₹42.70 crore in instalments for the project.
Allegations Made
According to the FIR, only one film was released. The second film remained incomplete, the third was about 25 percent finished, and the fourth film was never started.
Murdia alleged that nearly ₹30 crore was misused. He also claimed that fake bills and vouchers were created in the names of different vendors and that the money was transferred into personal accounts instead of being used for film production.
Based on these claims, police registered a case under sections related to cheating, criminal breach of trust and conspiracy.
Arrest And Bail
In December 2025, Rajasthan Police arrested Vikram Bhatt and Shwetambari Bhatt from Mumbai and brought them to Udaipur. They applied for bail in the Rajasthan High Court, but the High Court rejected their plea on January 31, 2026.
After that, they approached the Supreme Court. On February 13, 2026, the Supreme Court granted interim bail to Shwetambari Bhatt. Later, on February 19, 2026, the court granted regular bail to both Vikram Bhatt and Shwetambari Bhatt.
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Court’s Observation
During the hearing, the Supreme Court said that although the FIR mentions cheating and other criminal offences, the main issue seems to be related to a business agreement and financial transactions.
The judges said the dispute mainly comes from a commercial contract and therefore mediation could help both sides resolve the matter peacefully.
The court directed both parties to appear before the Supreme Court Mediation Centre and try to reach a settlement.
Arguments In Court
Lawyers for Vikram Bhatt and Shwetambari Bhatt argued that this is a business dispute and not a case of intentional cheating. They said two of the four films were completed and that the remaining projects were delayed due to financial problems, market conditions and other production challenges. They also argued that keeping the couple in custody was not necessary.
On the other side, senior advocate Vikas Singh, appearing for Ajay Murdia, said that the money was wrongly used. He argued that funds were transferred to a company that was facing financial trouble and under liquidation.
Mediation Ordered
While granting bail, the Supreme Court also said that no one should try to influence the legal process. The court added that if any misuse of power or interference is found, the case could be transferred to another place to ensure fairness.
By sending the matter for mediation, the court showed that commercial disputes can sometimes be resolved outside long court battles. Mediation allows both parties to sit together with neutral mediators and try to settle the issue.
Current Situation
After the Supreme Court’s order, Vikram Bhatt and Shwetambari Bhatt are now out on regular bail. The case is still pending, but both sides will now attempt to resolve their dispute through mediation at the Supreme Court Mediation Centre.
The final outcome will depend on whether both parties reach an agreement during mediation or continue the legal fight in court.
khushisikarwar is an award-winning journalist and content creator who thrives on telling stories that matter. As a key contributor to Newsisland, [she] focus on cultural commentary, providing readers with thought-provoking insights.
