Mumbai Police Arrests Step-Brother of MI Captain Hardik Pandya in Multi-Million Rupee Fraud Case

The Mumbai police have taken into custody Vaibhav Pandya, the step-brother of Indian cricketers Hardik and Krunal Pandya, on charges of purportedly defrauding them in a business partnership to the tune of approximately 4.3 crore rupees. 

This development has sent shockwaves through the cricketing community, as Vaibhav Pandya’s alleged involvement in deceiving his step-brothers has raised serious concerns about trust and familial relationships within the cricketing fraternity.

Allegations of Financial Wrongdoing Against Vaibhav Pandya: Hardik and Krunal Report Substantial Financial Losses

According to a report by The Times of India, 37-year-old Vaibhav Pandya stands accused of engaging in transactions totaling around 4.3 crore rupees with a partnership firm. 

This alleged wrongdoing has resulted in significant financial losses for Hardik and Krunal Pandya. The allegations include discrepancies in financial transactions and violations of partnership agreements.

Deception Unveiled: Vaibhav Pandya Allegedly Deceived the Pandya Brothers

According to reports, three years ago, three individuals jointly established a polymer business under specific terms. The cricketing brothers were supposed to invest 40% of the capital, while Vaibhav was to contribute 20% and manage daily operations.

Profits were to be distributed according to these shares. However, allegedly without informing his step-brothers, Vaibhav set up another firm within the same business domain and breached the terms of the partnership agreement.

Pandya Brothers Suffer Financial Losses

As a result, the actual profit from the partnership decreased, leading to a loss of approximately 3 crore rupees. Additionally, allegations surfaced that Vaibhav quietly increased his share of profits from 20% to 33.3%, causing significant financial harm to Hardik and Krunal Pandya.

The Economic Offences Wing of the Mumbai Police has accused Vaibhav Pandya of fraud and deceit in connection with these actions. However, the Pandya brothers have not issued any public statement regarding this matter.

Busy Pandya Brothers in the IPL

Hardik Pandya and Krunal Pandya are currently engrossed in the Indian Premier League (IPL). Hardik Pandya is leading the Mumbai Indians, while Krunal Pandya is representing the Lucknow Super Giants