The brother of Hardik Pandya has been charged by police with cheating and forgery, and they are currently facing consequences.
According to an official on Thursday, the Mumbai police have detained the stepbrother of cricket player Hardik Pandya for allegedly defrauding him and his brother Krunal out of over ₹4 million in the polymer industry.
Vaibhav Pandya, 37, was taken into custody by the city police’s Economic Offenses Wing (EOW) on Monday, he claimed. He was charged with criminal breach of trust, criminal intimidation, criminal conspiracy, forgery, and other pertinent offenses.
In Mumbai, the cricketer brothers and their stepbrother established a partnership-based business and began selling polymers in 2021. The siblings each contributed 40% of the partnership’s capital, with Vaibhav contributing 20%. The decision was made for Vaibhav to oversee day-to-day operations of the company, and earnings were allocated according to the same percentage, the official stated.
“After that, Vaibhav started his own firm and, without alerting the cricket players, founded another company in the same sector. He broke the terms of their relationship with this, he said.
The official stated that the original partnership firm’s profits decreased as a result of the new business, resulting in a loss of about ₹3 crore.
Hardik and Krunal Pandya's stepbrother Vaibhav has been arrested for allegedly cheating Hardik and Krunal 4.3cr. pic.twitter.com/65KePDFUaA
— Mufaddal Vohra (@mufaddal_vohra) April 11, 2024During this time, he led Hardik Pandya and his brother to lose money while increasing his personal profit by 20 to 33%. He said that Vaibhav also transferred money from the partnership account to his own, which is around ₹1 crore.
He said that upon being approached by the cricket player, he threatened to damage the player’s reputation.
The cricket player’s accountant filed a complaint at the Khar police station on Monday, and the matter was then registered and moved to the EOW.
He said that the same day that Vaibhav Pandya’s involvement in the crime was discovered, the EOW officers put him under custody.
He added that after being shown before a municipal court, he was placed under arrest by the police until Friday.
Hardik Pandya, a cricket player, and his sibling, Krunal Pandya, have been charged with embezzling Rs 4 crore. The article claims that Vaibhav Pandya, their half-brother, is the one who deceived the two Indian players, not any outside party.
Vaibhav arrested
Using information from the media. Vaibhav was taken into custody on April 10 by the Mumbai Police’s Economic Offenses Wing (EOW) following a complaint that Hardik and Krunal filed against him following a loss of Rs 4.3 crore. Vaibhav has been targeted by the police for cheating and forgery, and a case has been filed against him. They have spent the last five days in police detention on remand.
Understand the nature of the entire dispute
Together with Hardik-Krunal, Vaibhav founded a polymer firm in 2021. The Pandya siblings held a 40–40% share in it, with their half-brother Vaibhav holding a 20% interest.
However, Vaibhav is charged with breaching the terms of the contract by launching a different company, which cost the cricket players Rs 4.3 crore.
In addition, it is claimed that Vaibhav changed his profit-sharing percentage from 20 to 33.3 percent without telling anyone, which had a negative financial impact on Hardik and Krunal.
The Pandya brothers didn’t report Vaibhav to the police until after the scam was made public.
In the IPL, the Pandya brothers
Currently, Hardik and Krunal Pandya are occupied with their IPL 2024 duties. The Mumbai Indians are commanded by Hardik. Krunal is playing superbly for the Lucknow Supergiant’s at the same time.
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