In a high-profile case, Mumbai police have made an arrest involving Vaibhav Pandya, who is the stepbrother of cricketers Hardik and Krunal Pandya, who were allegedly cheating them of approximately 4.3 crore in a business partnership.
According to the report, 37-year-old Vaibhav is accused of diverting 4.3 crore from a partnership firm, which led to a major financial loss for both Hardik and Krunal Pandya.
The supposed misconduct involved the diversion of funds and the violation of partnership terms. According to the report, these three individuals jointly established a polymer business around three years ago with specific terms. The cricketer brothers were going to invest 40% of the capital each, whereas Vaibhav would contribute only 20% and manage the daily operations.
Profit was going to be distributed according to these shares; however, Vaibhav established another firm in the same trade without informing his step brothers, which violated the partnership agreement.
As a result of this, the profit from the original partnership declined, which led to an estimated loss of Rs 3 crore. Additionally, it is alleged that Vaibhav was secretly increasing his own profit share from 20% to 33.3%, which further impacted the financial interests of both Hardik and Krunal Pandya.
The Mumbai police economic offenses wing has charged Vaibhav Pandya with cheating and forgery in connection with these actions. The Pandya brothers have not made any public comment on the matter till now. Both of the brothers are currently busy with their Indian Premier League commitments, as Hardik Pandya is leading the Mumbai Indians and Krunal Pandya has produced an amazing performance in the 2024 season with his franchise Lucknow Supergiants.
Hardik Pandya had a tough last few months as he was recovering from an ankle injury that he got during the 2023 ODI World Cup, which was held in India. Also, his position as the captain of the Mumbai Indians was criticized by the fans of the franchise. Along with this, the all-rounder had a tough start as the captain of the franchise because their team lost the first three matches before registering their first victory last week by defeating the Delhi Capitals by 29 runs.
