Rajasthan High Court Rejects Bail of Filmmaker Vikram Bhatt, Wife in ₹30-Crore Fraud Case

Jodhpur: In a major setback for filmmaker Vikram Bhatt, the Rajasthan High Court, Jodhpur, has rejected the bail applications of Bhatt, his wife Shwetambari Bhatt, and co-accused Mehboob Ansari in connection with a multi-crore fraud case. The court cited the serious nature of allegations and the pendency of investigation as key reasons for denying relief.

With the rejection of bail, all three accused will remain in judicial custody, even as severe winter conditions prevail in the state.

Court Finds Bail Inappropriate at This Stage

The matter was heard by Justice Vinod Kumar Bharwani, who observed that granting bail at the present stage would not be appropriate, given that several crucial aspects of the investigation are still underway.

The Special Public Prosecutor strongly opposed the bail pleas, submitting that the probe into the alleged fraud is ongoing and that important financial trails and evidence are yet to be examined.

Allegations of Fake Bills and Money Transfers

According to the investigation conducted by the Rajasthan Police, Vikram Bhatt and his wife allegedly prepared forged bills under different names and used them to induce the complainant to transfer funds into multiple bank accounts.

The prosecution claimed that the money was subsequently routed into accounts controlled by the accused and utilized for personal expenses, including repayment of debts.

₹30-Crore Fraud, ₹4.23 Crore Illegally Transferred

The Special Public Prosecutor informed the court that in the ₹30-crore fraud case, the accused allegedly transferred ₹4,23,13,424 from the complainant into various accounts. Out of this amount, ₹1,65,69,955 was reportedly credited to the accused’s own accounts and used to settle personal liabilities.

Role of Co-Accused and Witness Intimidation Alleged

The prosecution further stated that co-accused Mehboob Ansari played an active role in executing the fraudulent transactions. Investigators have reportedly gathered substantial evidence indicating his involvement.

Serious allegations were also made that the accused were attempting to influence and intimidate witnesses, which could compromise the fairness of the investigation. The prosecution cautioned the court that granting bail at this juncture could obstruct justice.

High Court Dismisses All Bail Applications

After hearing arguments from all sides, the High Court dismissed the bail applications of:

• Vikram Bhatt, son of Praveen Bhatt
• Shwetambari V. Bhatt, wife of Vikram Bhatt
• Mehboob Ansari, son of Usman Ansari

The court concluded that the gravity of the offence, the financial magnitude involved, and the ongoing investigation do not justify granting bail at present.

Legal Battle Continues

With the High Court’s refusal, the accused remain behind bars as the investigation progresses. The case is being closely watched due to the high-profile nature of the accused and the scale of the alleged financial fraud.