Vikram Bhatt Arrested in ₹30 Crore Biopic Fraud Case

Filmmaker Vikram Bhatt Arrested in ₹30 Crore Fraud Case Filed by IVF Pioneer Dr Ajay Murdia

Renowned filmmaker Vikram Bhatt has been arrested in Mumbai following allegations of a ₹30 crore fraud linked to the production of a biographical film. A joint team from Rajasthan and Mumbai Police detained the director at his sister-in-law’s home after a lookout notice was issued for Bhatt and several associates.
Officials confirmed that he will be presented before Bandra Court to obtain transit remand for transfer to Udaipur, where the complaint originated.

The arrest comes after police instructed Bhatt, his wife Shwetambari Bhatt, and six others to appear before investigators by December 8.

Complaint Filed by Indira IVF Founder Dr Ajay Murdia

The case was triggered by a complaint from Dr Ajay Murdia, founder of Indira IVF Group, who alleged that Bhatt and his associates deceived him into investing ₹30 crore under the pretext of making a biopic about his late wife.

An FIR lodged at Bhopalpura Police Station in Udaipur named eight accused, including Bhatt, his wife, daughter Krishna Bhatt, Udaipur resident Dinesh Kataria, Thane-based producer Mehboob Ansari, Delhi’s Mudit Buttan, DSC Chairman Gangeshwar Lal Srivastava, and Ashok Dubey of the Federation of Western India Cine Employees.

Dr Murdia claimed he was assured the film could generate profits up to ₹200 crore.

How the Alleged Fraud Began

According to the police, the connection began when Dr Murdia approached Dinesh Kataria for guidance on producing a biopic.
Kataria facilitated a meeting with Vikram Bhatt at Vrindavan Studio, Mumbai, on April 25, 2024.

During this interaction, Bhatt allegedly promised to supervise all creative and production aspects and requested funds to begin pre-production. He also introduced his wife and daughter as project collaborators.

The funds were routed through VSB LLP, a firm registered in his wife’s name, and other linked accounts. Over several months, Dr Murdia transferred around ₹30 crore believing it was being invested in the project.

Film Release Raises Doubts Over Fund Usage

Bhatt’s recent release, “Tumko Meri Kasam,” starring Anupam Kher, Ishwak Singh, Adah Sharma, and Esha Deol, was reportedly inspired by the doctor’s personal story.
However, after the film’s release, Dr Murdia alleged that he was neither acknowledged as a producer nor given any share in the profits.

He accused Bhatt’s team of diverting the money intended for joint production and subsequently filed the complaint that led to the lookout notice.

Lookout Notice and Ongoing Investigation

A nationwide lookout notice was issued a week before the arrest, restricting all eight accused from travelling abroad and requiring them to appear before investigators.
Police teams from Rajasthan and Mumbai are now examining bank statements, email exchanges, contracts, and communication records to establish how the funds were used and whether multiple intermediaries were involved.

Sources indicate that several transactions flowed through a web of production entities, intensifying concerns about large-scale financial misappropriation.

Film Industry Reacts as Case Expands

The arrest of Vikram Bhatt—known for titles such as Raaz, 1920, Haunted, and Ankahee—has sent shockwaves across the film industry.
The involvement of high-ranking industry officials, including FWICE General Secretary Ashok Dubey, has further escalated the controversy.

A Mumbai police officer stated, “This appears to be part of a broader pattern of investment-linked deception within certain production networks. More arrests are likely as we trace the financial chain.”

The Rajasthan Police continue to gather evidence, signalling that the investigation may expand across multiple states.

Cases like this highlight the importance of transparent financial structuring and proper documentation—both in creative industries and in mainstream business operations. Organizations across India increasingly rely on accurate record-keeping and periodic financial reviews to avoid governance risks.

For enterprises planning regulated growth or exploring international opportunities, including those evaluating business setup in Dubai, strong financial processes and clear compliance frameworks are essential. Shunyatax Global remains committed to helping businesses establish secure, efficient, and well-governed operational practices.