Mahabharat Actor Aayush Shah Files Rs.4.44 Crore Fraud Complaint Against Singer Biswajit Ghosh

A Mumbai court has reportedly issued 15 notices to aspiring singer Biswajit Ghosh, his wife Piyali Chattopadhyay Ghosh, and business associate Shabab Hussain (aka Shabab Hashim) in connection with an alleged Rs.4.44 crore loan fraud case. The complaint was filed by Mahabharat fame actor Aayush Shah and his sister Mausam Shah under Section 138 of the Negotiable Instruments Act.

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Aayush Shah, known for his roles in Uttaran, Navya, Mahabharat, and Suryaputra Karna, began his career with My Friend Ganesha 2 (2008). The actor is soon to appear in the film Night and Fog alongside Aashiqui star Rahul Roy. The Shah siblings are also the co-founders of Maars Communicates, a Mumbai-based PR agency representing entertainment, lifestyle, and corporate clients.

Alleged Financial Misconduct

According to the complaint, the accused directors of MyFledge Private Limited allegedly obtained loans totaling Rs.4.44 crore over the past few years under the pretext of expanding their aviation and vocational training business. Initially, they reportedly offered small profits to gain trust, backed by fake ICICI Bank statements and forged property documents.

The Shahs claim that 32 cheques issued towards repayment were dishonored, revealing what they describe as a “planned and organized financial fraud.”

False Promises to Investors

MyFledge Pvt Ltd claims to operate multiple training centers across Bengaluru, Lucknow, Bhopal, Guwahati, Raipur, Mangalore, Siliguri, Surat, Chandigarh, Dehradun, Navi Mumbai, and Mumbai. However, the complainants allege that these claims—along with fabricated student success stories—were part of a deliberate attempt to mislead investors, students, and employees.

Court Proceedings Underway

The court has ordered the accused to appear on September 25, October 8, and October 17. If they fail to do so, the complainants plan to request arrest warrants. Legal proceedings are currently ongoing, and the next hearing dates are awaited.

Aayush Shah Speaks Out

Mahabharat fame actor Aayush Shah said, “We trusted them for years because everything from bank statements to property documents was made to look genuine. They even offered small returns initially to build trust. But what emerged was an organized fraud that robbed us of our savings and peace of mind. This isn't just about getting our money back, but about bringing these people to justice so that no one else falls victim to this fraud. We will fight this case until justice is served.”

Entrepreneur Mausam Shah said, “This wasn't just a default, but a deliberate and well-planned fraud. They broke our trust, just as they did with students, employees, and other lenders. The pattern is clear, and the punishment must be clear. Only strict action will ensure accountability and prevent others from such fraud.”

Legal Standpoint

High Court advocate K.P. Dubey, who represents the Shahs, described the case as a “clear-cut financial crime involving forgery and fraud.” Authorities are currently investigating the company’s financial transactions to trace the alleged misappropriation of funds.

This case follows similar fraud allegations in the industry, including complaints from actors Puja Banerjee and Kunal Verma in unrelated matters.

The case is currently under judicial consideration. All accused individuals are presumed innocent until proven guilty by a court of law.

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