Hardik Pandya's stepbrother held for cheating brothers

THE Economic Offence Wing of Mumbai police has arrested Vaibhav Pandya, stepbrother of Mumbai Indians skipper Hardik Pandya, for allegedly cheating the Pandya brothers of over ₹4 crore in business, news agency ANI has reported.

As per the Mumbai Police, Vaibhav allegedly diverted around ₹4.3 crore from the partnership firm, causing a loss to Hardik Pandya and his brother Krunal Pandya. Officials in the EOW wing told Times of India that, Vaibhav was arrested on April 10 and has been charged with cheating and forgery.

The three bothers Hardik, Krunal and Vaibhav had set up a polymer business in the year 2021. As per the TOI report, the partnership deal was that the Pandya brothers would infuse 40 per cent each capital in the business while Vaibhav would put 20 per cent. The deal also that the profit that would come would also be divided in the same manner.

However, Vaibhav went and broke the agreement and opened another firm that engaged in the same trade without notifying the Pandya brothers, thus breaching the agreement. A source also told TOI, “Around this time, profits of the original partnership dropped, causing a loss of Rs.3 crore."