Filmmaker Vikram Bhatt and his wife, Shwetambari Bhatt, have been in judicial custody for over a month in connection with an alleged fraud case amounting to ₹44.70 crore. The complaint was filed by Dr. Ajay Murdia, the founder of Indira IVF and Fertility Centre, one of India's largest fertility chains. Dr. Murdia, aged 73, was reportedly 'cheated' by Bhatt in his endeavor to produce films, including a biopic to honor his late wife, Indira, and their work in infertility treatment. The fraud allegations stem from an agreement for multiple film projects, for which Murdia initially transferred ₹2.5 crore and later expanded the project to four films for a total of ₹47 crore. It is alleged that fake bills and vouchers were generated, and funds were deliberately diverted, leading to a total of ₹44.27 crore in cleared bills under dubious circumstances. Murdia's lawyer claims that payments were made based on receipts approved by a middleman, Dinesh Kataria, who allegedly had links with the film industry. Vikram Bhatt and Shwetambari were arrested by Rajasthan Police from Mumbai on December 7, 2025. Their bail pleas have been repeatedly rejected by courts, including the Rajasthan High Court, which observed that the allegations extended beyond a mere contractual dispute, indicating "deliberate diversion of funds, lack of transparency, and elements of dishonesty." Police have collected evidence, though they claim Bhatt's team did not fully cooperate. Furthermore, a film titled 'Tumko Meri Kasam', directed by Vikram Bhatt and based on Dr. Murdia's life, was released on March 21, 2025, but proved to be a significant box office flop, earning only ₹65 lakh. This film's release also reportedly led to the Securities and Exchange Board of India (SEBI) raising concerns that it might be a promotional tool, ultimately causing Indira IVF to withdraw its ambitious ₹3500 crore Initial Public Offering (IPO). The case highlights the intersection of a successful IVF business, a controversial Bollywood film venture, and serious financial fraud allegations.