Observation of non-zero spontaneous polarization in paraelectric phase in multiwalled carbon nanotubes doped deformed helix ferroelectric LC is reported. Electro-optical response, spontaneous polarization, rotational viscosity, dielectric permittivity, dielectric loss factor, and electrical resistance of pure and multiwalled carbon nanotubes doped deformed helix ferroelectric LC have been measured. Non-zero spontaneous polarization in paraelectric phase has been attributed to the possible short range orientational order of deformed helix ferroelectric LC surrounding the multiwalled carbon nanotubes through surface anchoring and ionic impurities. The results presented will help to understand the basic mechanism of interaction of multiwalled carbon nanotubes with deformed helix ferroelectric LC.