• Source:JND
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The Economic Offence Wing of the Mumbai Police has arrested Vaibhav Pandya, the stepbrother of cricketers Hardik Pandya and Krunal Pandya, on charges of cheating them of approximately Rs 4 crore in business dealings. Vaibhav Pandya is accused of diverting around Rs 4.3 crore from a partnership firm, resulting in financial losses for both Hardik and Krunal Pandya.

The alleged incident occurred in 2021 when Vaibhav, along with the Pandya brothers, started a polymer business company. In this venture, Hardik and Krunal each held a 40% stake, while Vaibhav held a 20% stake.

According to the accusations, Vaibhav unlawfully increased his own profit share from 20% to 33.3%, leading to financial harm to Hardik and Krunal Pandya.

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 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.

Inputs from ANI