The clarification comes in the wake of reports that Shah Rukh's character in the film is inspired by about Gujarat-based gangster Abdul Latif.
"We are overwhelmed with the positive and encouraging response showered on the trailer of 'Raees' and we certainly hope that the pouring of love shall continue upon the release of the film as well," read a joint statement issued on behalf of Shah Rukh, Ritesh Sidhwani, Farhan Akhtar and director Rahul Dholakia.
The statement further read: "In view of certain media reports that claim that the film 'Raees' is based on a real life story and rumours to that effect being circulated, we take this opportunity to clarify that the story of the film 'Raees' is a pure work of fiction, Not based on any person; living or dead.
"All those making such claims, will realise it themselves, once they see the film. It is an imagined crime thriller set against the backdrop of Gujarat."
Set in 1980s Gujarat, "Raees" tells the story of a bootlegger whose business is thwarted by a tough policeman. The film is produced by Excel Entertainment and Red Chillies Entertainment.
The film also features Nawazuddin Siddiqui and marks the Bollywood debut of Pakistani actress Mahira Khan.