Jubilant FoodWorks has issued a statement clarifying reports regarding the registration of an FIR against chairman Shyam S Bhartia. The company said that Bhartia “denies all allegations as they are baseless, false, and disparaging.”

According to the statement, Bhartia believes the allegations have “clear malafide intent”. The Bombay High Court has directed the police to investigate the case on its own merits, while also clarifying that it has not commented on the merits of the complaint in any manner.

Jubilant FoodWorks said that Bhartia will “fully cooperate with the investigation agency as and when called upon to do so.” However, as the investigation is ongoing, the company clarified that no additional comments will be made at this stage.

The FIR was reportedly registered after a Bollywood actor accused Bhartia of rape and fraud. According to reports, the Bombay High Court had questioned the police over a three-month delay in acting on the complaint, following which the FIR was filed against the businessman.

The shares of Jubilant FoodWorks are trading 0.04% in the red at ₹674.5 apiece at 1 pm. The stock is falling for the third day in a row.