MUMBAI: The Mumbai police have confirmed that their Economic Offence Wing has arrested Vaibhav Pandya, stepbrother of cricketers Hardik Pandya and Krunal Pandya for allegedly cheating them of around Rs 4 crore in business.
Vaibhav allegedly diverted around Rs 4.3 crore from the partnership firm, causing a loss to both the Pandya brothers. The incident took place in 2021.
The accused Vaibhav had started a polymer business with the Pandya brothers, Hardik and Krunal’s stake in this company was 40-40 pc, and Vaibhav had a 20% stake. According to the allegations, Vaibhav illegally raised his own profit share from 20 pc to 33.3 pc, which further harmed Hardik and Krunal Pandya financially.
The profit from the company was to be divided into three in the same ratio. Instead of giving the company’s profit money to the Pandya brothers, the accused Vaibhav formed a separate company and transferred the profit amount to it, due to which the Pandya brothers suffered a loss of about Rs 4.3 crore.
The Indian Premier League (IPL) responsibilities of both cricketer brothers are keeping them quite busy at the moment; Hardik Pandya is leading the Mumbai Indians, while Krunal has been playing well for the Lucknow Super Giants in the 2024 season.
Hardik recovered from an ankle injury that he suffered during the 2023 World Cup. The all-rounder had a difficult few months. Not only that, but the fans of the MI team themselves strongly opposed his appointment to the post of captain. The 30-year-old player had a difficult start to his captaincy as MI lost their first three games before beating the Delhi Capitals by 29 runs last week to register their first victory. (ANI)