Relief flooded Mumbai’s film circles as director Vikram Bhatt and wife Shwetambari Bhatt received Supreme Court nod for permanent bail in an explosive over-Rs-30-crore fraud imbroglio. Alongside, the court wisely recommended arbitration to untangle the financial knot.
At heart, a betrayed partnership: Dr. Ajay Murdia of Indira IVF fame poured funds into four Bhatt productions, headlined by his late wife’s biopic. Glossy profit projections fizzled; partial shoots abandoned projects, refund demands ignored.
Post-December 7 arrest and high court setback, the Supreme Court stepped in February 13 with temporary bail, slamming jail-as-recovery-tool logic and summoning Rajasthan cops.
In Thursday’s decisive verdict, the apex bench reversed the detention, empowering Udaipur court for conditions. It signals a recalibration in handling economic offenses, favoring dialogue.
From Udaipur’s clinics to national IVF dominance, Murdia sought cinematic legacy, only to face evasion.
Trouble brews further with Bhatt pere et fille in the dock for a Rs 13.5 crore duping by yet another suitor, exposing film finance’s underbelly.
Bail breathes new life, but mediation’s success will test resolve. The industry reflects on safeguards amid rising investor disputes.