In a significant development on Friday, the Supreme Court granted interim bail to filmmaker Vikram Bhatt and his wife Shwetambari V Bhatt in a ₹30 crore cheating case registered in Rajasthan.
The relief came from a Bench led by Chief Justice of India Surya Kant, along with Justice Joymalya Bagchi, after the couple challenged the Rajasthan High Court’s refusal to grant them bail.
The case, titled Shwetambari V Bhatt and Anr v. State of Rajasthan, will now be heard again next week.
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Background of the Case
The controversy stems from an agreement between Bhatt and businessman Ajay Murdia, head of the Indira Group of Companies, which runs fertility chain Indira IVF and the entertainment arm Indira Entertainment LLP.
According to the complaint, Bhatt entered into an arrangement to produce four films for a total investment of ₹47 crore. A company was formed for the purpose, and over ₹42.70 crore was reportedly paid in phases, often routed through vendors.
However, the complainant alleges that only one film was released, the second remained incomplete, the third was only partially shot, and the fourth never began production. It is further alleged that around ₹30 crore was siphoned off through fake bills and payments made in collusion with vendors.
An FIR was registered at Police Station Bhupalpura in Udaipur under multiple provisions of the Bharatiya Nyaya Sanhita, including criminal conspiracy and cheating. Bhatt and his wife were arrested in December 2025 and have since been in judicial custody.
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Rajasthan High Court Refuses Bail
Earlier, the Rajasthan High Court’s Jodhpur Bench had rejected their plea for regular bail. The High Court noted that large sums were allegedly transferred into accounts belonging to the accused and their family members instead of being used for film production.
The court also observed that crucial parts of the investigation were still pending, making it inappropriate to grant bail at that stage.
With relief denied, the couple approached the Supreme Court.
Arguments Before the Supreme Court
Senior Advocate Mukul Rohatgi, appearing for the Bhatts, argued that the dispute was essentially commercial in nature and had been wrongly given a criminal colour.
“He cannot put the director, his wife, everybody in jail… What is going on?” Rohatgi told the Bench, questioning the arrests.
He also pointed out that film production is a risky business and financial setbacks do not automatically amount to fraud.
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The State’s counsel strongly opposed the plea. “It’s not so simple. ₹30 crore fraud!” he said, stressing the gravity of the allegations.
Court’s Observations
During the hearing, Justice Bagchi made a pointed remark that seemed to shape the direction of the proceedings.
“But you cannot use these cases to recover money,” the judge observed, indicating concern over the possible misuse of criminal law for settling financial disputes.
The Bench issued notice to the Rajasthan government and directed that the owner of Indira Entertainment LLP be impleaded as a respondent so that the complainant could present his response.
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The Supreme Court’s Decision
After hearing both sides, the Bench granted interim bail to Vikram Bhatt and Shwetambari Bhatt.
“Issue Notice. The petitioner and his wife be released on interim bail forthwith, subject to furnishing bail bonds. List next Thursday,” the Court ordered.
With this, the couple secured temporary relief from custody. The matter has been posted for further hearing on February 19.
Case Title: Shwetambari V Bhatt and Anr v. State of Rajasthan
Case No.: SLP (Criminal) – Number not specified
Case Type: Criminal – Interim Bail Plea
Decision Date: February 13, 2026
