New Delhi: Film director Vikram Bhatt, who was arrested last month in connection with an alleged ₹30-crore fraud, has once again been accused of cheating a Pune-based film investor of ₹13.5 crore. A case has been registered against Bhatt and his daughter, Krishna Bhatt, at the Versova police station in Mumbai.
The Pune-based investor, identified as Shivraj Prithviraj Khawade, alleged that Bhatt persuaded him to invest in his upcoming film projects by promising high returns.
Mislead for nearly four years
According to the complaint, Bhatt took Rs13.5 crore from Khawade in 2021, assuring him of substantial returns within a specified period. However, the situation soured when Bhatt allegedly failed to return the money despite repeated follow-ups.
As per Versova police, Bhatt allegedly misled investors over the past four years, citing delays in production and financial constraints as excuses. Khawade claimed that the promised amount has not been refunded even after four years.
An FIR has been registered under Section 420 (cheating) of the Indian Penal Code against the father-daughter duo. The Mumbai Police have transferred the case to the Economic Offences Wing (EOW) for further investigation.
The Rajasthan case
In December 2025, Vikram Bhatt and his wife were arrested in a separate cheating case. Police teams are now probing whether there are more investors who were allegedly duped using promises of high returns from film projects.
Bhatt and Shwetambari Bhatt from their Juhu residence. Police said their security staff initially tried to obstruct the operation, claiming the couple was not at home, but both were eventually taken into custody.
The case was registered on the basis of an FIR filed by Dr Ajay Murdia, founder of the Indira Group and Indira IVF. According to the complaint, Bhatt and his associates allegedly collected funds on the pretext of producing a biopic based on Dr Murdia’s wife. Dr Murdia stated that he was first introduced to the project by Dinesh Kataria and later met Vikram Bhatt at Vrindavan Studio in Mumbai.
Bhatt allegedly assured him that an investment of ₹7 crore would result in the production of four films, with projected returns ranging between Rs100 crore and Rs200 crore.