Shetty was taken to the nearby Kokilaben Ambani Hospital.
A senior crime branch official said although there was no specific threat to Shetty’s life, the incident is suspected to be the handiwork of an underworld gang. The Amboli police have registered an attempt to murder case.
Sources said Shetty’s association with a dismissed encounter specialist was well known. Shetty owns several hotels, pubs and shopping complexes in the western suburbs.