Additional Chief Metropolitan Magistrate Lokesh Kumar Sharma allowed exemption application filed by Shetty's counsel on his behalf on the ground that he was indisposed.
The court had on May seven issued fresh summons to Shetty after previous summons had returned unserved because he was not residing at the given address in Mumbai.
Earlier, it had sought the presence of the actor after Purn Chauhan, a stunt man who claimed to have helped Shetty as assistant director in the making of the upcoming film 'Little Godfather', put forth a CD purportedly containing the threats issued to him by Shetty and the underworld.
In a complaint filed in the court in 2008, Chauhan, who is physically-challenged, alleged Shetty, who runs a production company in the name of Popcorn Entertainment, did not disburse the money to him despite taking his services in the Bollywood venture.
Chauhan claimed he had filed the complaint in the court against Shetty after Delhi police refused to register an FIR in the matter.
He had claimed the actor owed about Rs 50 lakh to him as per the term and conditions of the contract.