Hardik Pandya and Krunal Pandya. PTI file
Chandigarh, April 11
The Mumbai Police have reportedly arrested Vaibhav Pandya, the stepbrother of cricketers Hardik Pandya and Krunal Pandya, for allegedly duping them of Rs 4.3 crore by diverting funds in a business partnership.
According to a report by The Times of India, 37-year-old Vaibhav is accused of diverting money from a partnership firm based in Mumbai, leading to financial loss for Hardik and Krunal Pandya.
The TOI report states that the Economic Offences Wing of the Mumbai police has charged Vaibhav Pandya with cheating and forgery in connection with these actions.
According to the report, the three had jointly set up a polymer business in 2021, in which the cricketer brothers were to invest 40 per cent of the capital each, while Vaibhav would contribute 20 per cent and manage daily operations as part of the partnership terms.
However, the accused stepbrother reportedly established another firm in the same trade without informing Pandya brothers, violating the terms of agreement.
With this, the profits of the original partnership firm came down and caused a loss approximate Rs 3 crore, said an official.
It was also alleged that Vaibhav secretly increased his own profit share to 33.3 per cent, further causing loss to Hardik and Krunal. He also diverted funds from the partnership account to his own, which is around Rs 1 crore, added an official.
Officials said when Vaibhav was confronted by Hardik, he allegedly threatened to tarnish the cricketer's reputation.
A case was registered on a complaint lodged by the accountant of the cricketer and it was transferred to the EOW. — with PTI
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