A Mumbai court has directed Oshiwara police to register a First Information Report (FIR) against three directors of MyFledge Private Limited following a complaint by television actor Ayush Shah alleging financial fraud of approximately ₹4.44 crore.
The Judicial Magistrate First Class at the Railway Mobile Court in Andheri issued the direction on November 2, 2026. The complaint raises allegations of cheating, forgery and financial deception connected to investments Shah says he made after receiving representations about the company's financial position and business prospects.
Shah, known for appearing in television serials including Mahabharat, Navya and Uttaran, has alleged that misleading information and fabricated documents were used to persuade him to transfer substantial funds to the company.
Three MyFledge Directors Named in the Complaint
The complaint identifies three directors of MyFledge Private Limited as accused:
Biswajit Badal Ghosh
Piyali Shyamalendu Chatterjee
Bijoya Subratakumar Das
According to Shah's allegations, the directors presented documents and business information that misrepresented the company's financial strength and commercial credibility. The disputed material reportedly included bank statements, property documents, details of office premises and claims about corporate achievements.
The complaint further alleges that fabricated business connections and assurances of substantial incoming investments were used to build confidence in the company. Shah claims he relied on these representations before transferring money and subsequently suffered a financial loss of around ₹4.44 crore.
The authenticity of the documents and the circumstances surrounding the investment will now be examined as part of the police investigation.
Six Separate Cheque-Dishonour Cases Also Pending
The latest complaint follows six separate criminal proceedings initiated by Shah against the directors under laws relating to cheque dishonour. According to the report, these matters are pending before a court in Girgaon, Mumbai.
Through the new complaint, Shah has sought a broader investigation into the alleged financial transactions, disputed documents and possible involvement of other individuals.
The proceedings concerning cheque dishonour are separate from the latest allegations of cheating and forgery. The outcomes of these cases will depend on the evidence and the applicable legal process.
Police to Examine Banking Records and Company Documents
Following the magistrate's direction, Oshiwara police are expected to investigate the financial transactions and supporting documentation connected with the disputed investment.
The inquiry will examine several key questions:
How the money was transferred and received.
Whether the bank statements and property documents were authentic.
Whether the company's business claims were accurately represented.
Whether individuals beyond the named directors were involved.
What happened to the funds transferred by the complainant.
Shah reportedly expressed relief following the court's intervention, stating that the episode had caused considerable financial and personal distress. His counsel, Advocate Govind Ghogre, said supporting material relating to the transactions and disputed paperwork had been placed before the court.
The police investigation will be important in establishing the facts behind the allegations. Financial records, transaction trails and document verification are likely to play a central role in determining what occurred.
Investigation Will Determine the Facts
The magistrate's direction for FIR registration marks the beginning of formal police action; it does not establish the guilt of the named individuals. The allegations against the company directors remain subject to investigation and judicial proceedings.
For businesses and investors, the case also highlights the importance of independently checking financial statements, property records, corporate claims and investment representations before committing significant capital. Proper documentation and Shunyatax's financial investigation services can be relevant when reviewing suspected financial irregularities and disputed transactions.
The investigation is expected to establish whether the documents and representations cited in the complaint were genuine, how the funds were handled and whether any additional individuals were involved.