Vaibhav Pandya, the 37-year-old stepbrother of renowned Indian cricketers Hardik and Krunal Pandya, has been apprehended by the Mumbai Police on allegations of defrauding the cricketing duo of a staggering ₹4.3 crore. According to reports, the three had established a polymer business venture three years ago, with Vaibhav contributing 20% of the capital and overseeing day-to-day operations, while Hardik and Krunal invested 40% each.
The crux of the matter lies in Vaibhav's alleged violation of the partnership agreement. It is alleged that he covertly launched a separate business in the same industry without informing his stepbrothers, leading to a decline in profits from the initial collaboration and an estimated loss of ₹3 crore. Furthermore, Vaibhav is accused of surreptitiously increasing his personal profit share from the agreed 20% to 33.3%, thereby causing substantial financial harm to Hardik and Krunal Pandya.
Confrontation and Legal Charges on Hardik Pandya’s Stepbrother
Initially, the trio had agreed to distribute the profits according to their respective investment shares. However, when the cricketer brothers discovered the losses incurred in the company, one of them confronted Vaibhav, who allegedly responded with threats of dire consequences, according to a police officer quoted by Business Insider.
Consequently, the Mumbai Police's Economic Offences Wing has charged Vaibhav Pandya with offenses related to cheating and forgery based on the allegations made by Hardik and Krunal Pandya.
The case has sparked widespread interest, as the alleged financial misdeeds involve two prominent figures in Indian cricket, who have represented the national team on numerous occasions. The investigation is ongoing, and the legal proceedings are expected to shed light on the intricacies of the alleged fraud and the subsequent actions taken by the authorities.
