The move came hours after he was booked by the police for "molesting" the leading actress at a function on Friday evening at the venue of President's Trophy boat race in Kollam.
"In the wake of Mr Peetambhara Kurup's repeated public and personal apology about the incident at the President's Boat Race at Kollam, I am withdrawing all legal and other actions against him," the 39-year old actress said in an e-mail message to media in Kochi tonight.
The actress sincerely thanked the media and the film fraternity for extending their support to her.
Leaders of CPI(M)'s youth outfit DYFI, on whose complaint police initiated action, however, said the legal process could continue even if Shewta withdrew her charge.
Shweta made the climb down within hours after she stood by the charge against Kurup in her statement given to the police, based on which a case was registered against him.
She had last night said that she would forward a detailed complaint to Chief Minister Oommen Chandy about the incident.
Today he said though he did not indulge in such a mean act "by look or by touch" he regretted if the actress felt offended during the function.
Earlier, police registered a case against Kurup based on Shweta's statement, given to the police at her apartment in Kochi this morning.
Police had charged Kurup with IPC sections 354 and 354 (A) for assault or criminal force to a woman with intent to outrage her modesty.
Acting on a complaint lodged by the DYFI, a police team led by a woman Circle Inspector had gone to Kochi this morning to record Shewta's statement.
Shewta told the police team at her apartment in Kochi that she was insulted by Kurup and another person during the function.
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