Mumbai police have made a significant arrest, detaining Vaibhav Pandya, the stepbrother of renowned cricketers Hardik and Krunal Pandya, in connection with a high-profile case. He stands accused of allegedly defrauding them of approximately Rs 4.3 crore in a business collaboration, as reported by the Times of India. The charges against Vaibhav involve diverting funds from a partnership firm, resulting in significant financial losses for the Pandya brothers.
The alleged misconduct centers around fund diversion and breach of partnership terms. According to the report, the trio initiated a polymer business three years ago, with specific investment percentages agreed upon: each of the cricketer brothers contributing 40% of the capital, while Vaibhav was responsible for 20% and overseeing daily operations. However, it’s claimed that Vaibhav formed another firm in the same sector without informing his stepbrothers, thus violating the partnership agreement and leading to a decline in profits from the original venture.
These covert actions purportedly resulted in an estimated loss of Rs 3 crore for the Pandya brothers, with Vaibhav allegedly increasing his own profit share from 20% to 33.3%. Consequently, Mumbai’s Economic Offences Wing has charged Vaibhav Pandya with cheating and forgery in connection with these allegations. Despite the ongoing legal proceedings, Hardik and Krunal Pandya, renowned for their cricketing prowess, have remained silent on the matter, focusing instead on their Indian Premier League commitments.
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