Actor Aayush Shah Defrauded in ₹4.44 Crore Scam — Court Issues Process in MyFledge Case
• Court Action in ₹4.44 Crore MyFledge Fraud Case
• Fake Bank Statements and Forged Documents Used to Lure Victims
• 32 Bounced Cheques Trigger Legal Action Under Negotiable Instruments Act
Mahabharat actor Aayush Shah and entrepreneur Mausam Shah were defrauded of ₹4.44 crore in a MyFledge Pvt. Ltd. scam. A Mumbai court has issued process against the accused directors for running a “Bunty Aur Babli”-style financial fraud using forged documents. The accused directors face charges under the Negotiable Instruments Act, following 32 bounced cheques and mounting evidence.
A Mumbai court has issued process in a ₹4.44 crore fraud case involving MyFledge Pvt. Ltd. and its directors. The petition names them in a ‘Bunty Aur Babli’-style con targeting actor Aayush Shah.
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Fraud Allegations Unveiled: Use of Forged Documents and False Claims
The Shah siblings, who operate PR firm Maars Communicates in Mumbai, allegedly fell prey after being shown fake ICICI Bank statements, forged property documents, and staged student success stories to build credibility.
Early trust was cemented with small returns before defaults. According to the complaint, 32 cheques presented by the accused were dishonoured, invoking the Negotiable Instruments Act.
Related Article: ‘Mahabharat’ Actor Aayush Shah Files Complaint Against MyFledge Pvt. Ltd. Directors.
Accused Parties and Legal Frameworks
The formal complaint to the Mumbai Police Commissioner invokes Sections 316, 318, 338, 61 of the Bharatiya Nyaya Sanhita (BNS) 2023.
Accused are:
•Bishwajit Badal Ghosh (singer and MyFledge director)
•Piyalee Shyamlendu Chatterjee
•Bijoya Subrat Kumar Das
•Badal Chandra Ghosh
•Shabab Hussain (aka Shabab Hashim)
The court has issued 15 notices across related cases. Nonappearance may trigger arrest warrants. Scheduled hearings: October 17, November 29, December 3.
Voices from the Victims
Actor Aayush Shah said they initially trusted the pitch: “Everything looked genuine at first, but it was a planned deception.”
His sister, entrepreneur Mausam Shah, emphasized: “This was not a simple default — it was a systematically orchestrated scam. The accused must face strict punishment.”
Broader Reach: Multiple Targets and Legal Strategy
Official sources suggest the perpetrators used similar tactics against students, employees, and other lenders.
Advocate K.P. Dubey, representing the Shahs, called it “a clear financial fraud executed through forged documents, false promises, and deliberate deception.”
Sprouts News will continue reporting updates as the investigations and trials proceed.
