The Supreme Court granted interim bail to Shwetambari Bhatt, wife of filmmaker Vikram Bhatt, in a Rs 44-crore fraud case, describing her arrest as “unfortunate” and raising concerns over the use of criminal
proceedings in the matter. Vikram Bhatt’s bail plea will be heard separately next week.
A bench led by Chief Justice of India Surya Kant and Justice Joymalya Bagchi issued notice on the couple’s petition challenging the Rajasthan High Court order that had denied them bail and directed that Shwetambari Bhatt be released immediately on interim bail.
Senior advocate Mukul Rohatgi, appearing for the Bhatt couple, told the court that the Rajasthan Police had traveled to Mumbai to arrest them from their residence. He argued that the case arose from a business arrangement related to film production that failed commercially and should not have been treated as a criminal offence. Rohatgi said the complainant had invested in film projects that did not succeed at the box office, and that financial losses alone could not justify imprisonment.
During the hearing, the bench questioned why criminal proceedings were being invoked for what appeared to be a recovery of money. The judges also expressed concern over the choice of jurisdiction, describing the situation as “very unfortunate.” The Chief Justice noted that the petitioners had not sought quashing of the FIR and made pointed remarks while hearing arguments.
Counsel for the complainant, Ajay Murdia, owner of Indira IVF and former Indira Entertainment LLP, opposed the bail, stating that the case involved alleged cheating of Rs 44 crore. According to the complaint, Murdia had invested over Rs 30 crore in various film projects, including a proposed biopic on his late wife, after being promised substantial returns that never materialized.
The Supreme Court has now made Murdia a party to the proceedings and scheduled the next hearing for Wednesday when Vikram Bhatt’s bail plea will be considered.
