By Grace Cyril,News18

Copyright news18

Actor Aayush Shah, known for his journey from a child artist in My Friend Ganesha 2 to notable television roles in Uttaran (Colors), Navya and Mahabharat (Star Plus), and Suryaputra Karn (Sony TV), has filed a criminal case alleging a Rs 4,44,48,000 loan fraud. Shah, who is set to appear in the upcoming film Night and Fog alongside Aashiqui fame Rahul Roy, co-filed the complaint with his sister, Mausam Shah. The siblings are co-founders of a Mumbai-based public relations firm, Maars Communicates.
The complaint, filed under Section 138 of the Negotiable Instruments Act, names MyFledge Private Limited directors Bishwajit Ghosh, who is also an aspiring singer, his wife Piyalee Chatterjee Ghosh, and Shabab Husain (aka Shabab Hashim) as the accused. The case alleges that over the past four to five years, they obtained financial loans amounting to Rs 4,44,48,000 under false pretenses, promising lucrative returns for business expansion of their aviation and vocational training company.
According to the Shah siblings, MyFledge directors initially paid small profits to build trust and presented ICICI Bank statements and property documents to establish credibility. However, these documents were later alleged to be forged. The loans were secured against 32 cheques, all of which reportedly bounced upon deposit.
MyFledge claims to operate training centers in multiple cities, including Bangalore, Lucknow, Bhopal, Guwahati, Raipur, Mangalore, Siliguri, Surat, Chandigarh, Dehradun, Navi Mumbai, and Mumbai. However, the Shahs allege that these representations, along with student success stories and property ownership claims, were part of a larger scheme to mislead both investors and students.
In the latest update, the court has issued 15 notices to the accused, ordering them to appear on September 25, October 7, and October 17. If the accused fail to present themselves, the complainants will move forward with a request for an arrest warrant.
Mahabharat actor Aayush Shah said in an exclusive statement to News18 Showsha, “We trusted them for years because everything, from forged bank statements to property papers, was crafted to look authentic. Initially, they even gave small returns to win confidence. What later unfolded was a well-planned fraud that robbed us of our savings and peace of mind. This isn’t just about recovering money; it’s about ensuring such people face the law so that no one else becomes a victim of this deception. We will pursue this case until justice is served.”
Entrepreneur Mausam Shah said, “This was not an accidental default but a deliberate and systematic scam. They exploited our trust, just as they have done with students, employees, and other lenders. The pattern is clear, and so should be the punishment. Strict action is the only way to ensure accountability and to stop others from falling prey to similar fraudulent schemes.”
The case is being represented by Advocate K.P. Dubey of the High Court, who described it as “a clear case of financial fraud executed through deception and forgery.” Investigations into the accused’s financial dealings are ongoing.