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Mumbai police have made an arrest in a high-profile case involving Vaibhav Pandya, the stepbrother of cricketers Hardik and Krunal Pandya, who allegedly cheated them of approximately ₹4.3 crore in a business partnership.
According to a report from The Times of India, 37-year-old Vaibhav is accused of diverting around ₹4.3 crore from a partnership firm, leading to a significant financial loss for Hardik and Krunal Pandya.
The alleged misconduct includes the diversion of funds and violation of partnership terms. According to the report, the three individuals jointly established a polymer business three years ago, with specific terms: the cricketer brothers were to invest 40% of the capital each, while Vaibhav would contribute 20% and manage daily operations.Â
Profits were to be distributed according to these shares. However, Vaibhav reportedly established another firm in the same trade without informing his stepbrothers, thus violating the partnership agreement.
As a result, profits from the original partnership declined, leading to an estimated loss of ₹3 crore. Additionally, it is alleged that Vaibhav secretly increased his own profit share from 20% to 33.3%, further impacting the financial interests of Hardik and Krunal Pandya.
The Economic Offences Wing of the Mumbai police has charged Vaibhav Pandya with cheating and forgery in connection with these actions.
The Pandya brothers, known for their cricketing prowess, have not publicly commented on the matter.Â
Hardik, Krunal currently taking part in IPL
Both cricketer brothers are currently busy with their Indian Premier League commitments; while Hardik Pandya leads the Mumbai Indians, Krunal has produced impressive performances in the 2024 season with the Lucknow Super Giants.Â
Hardik had a tough last few months as he recovered from an ankle injury sustained during the 2023 World Cup. Additionally, his ascension as the captain of MI was met with significant opposition from the franchise’s own fans. The all-rounder had a tough start as captain as MI faced three successive losses before registering their first win last week, defeating the Delhi Capitals by 29 runs.
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