India, Jan. 23 -- Music composer and filmmaker Palash Muchhal, accused of a Rs.40 lakh fraud, has responded to the allegations. Taking to his Instagram Stories on Friday, Palash called the claims "baseless and factually incorrect." He also said that he will take legal action.

Palash added that the allegations were made with "malicious intent to tarnish my reputation." He wrote, "In light of the allegations made by Sangli-based Vidnyan Mane on social media, I wish to state that these claims against me are entirely baseless and factually incorrect."

"They have been made with malicious intent to tarnish my reputation, and they will not go unchallenged. My lawyer, Shreyansh Mithare, is exploring all legal avenues, and this matter will be de...