"We, at Colors, are saddened & devastated by the sudden loss of our family member, Sidharth Shukla. He will be immensely missed. His passing is an irreparable loss for us & the whole industry," the TV channel tweeted on Thursday.
Several Indian celebrities and Shukla's fans also took to Twitter to share their shock and condolences.
"I m gonna meet you in heaven brother," tweeted model and actor Asim Riaz alongside a broken heart emoji. "R I P sidharthshukla," Riaz added.
Actress Kiara Advani tweeted her condolences to Shukla's family and loved ones. "Gosh this is Heartbreaking," she wrote. "May your soul RIP #SidharthShukla."
Actress and singer Parineeti Chopra said she was "unable to process" the news, tweeting: "Rest in Peace #SidharthShukla. You were truly loved, by millions."
Shukla started his career as a model and became the first Indian to win the "Best Model of the World" contest in 2005, according to CNN News 18.
In 2008, he moved into the cinema and television industry, according to Colors TV.
He also participated in reality TV shows such as "Big Boss" and "Fear Factor" and hosted "India's Got Talent."
His family told the Mumbai Police they did not suspect "foul play" in the actor's death, according to CNN News 18.
CNN's Swati Gupta contributed to this report.