Mumbai Police Arrests Hardik Pandya’s Stepbrother Vaibhav Pandya for Alleged Cheating in Business Partnership
The Economic Offence Wing (EOW) of the Mumbai Police has taken Vaibhav Pandya, stepbrother of cricket star Hardik Pandya, into custody over accusations of cheating his brothers in a business venture. According to reports from the news agency ANI, Vaibhav Pandya stands accused of diverting approximately ₹4.3 crore from their partnership firm, resulting in significant financial losses for Hardik and his brother Krunal Pandya.
Vaibhav’s arrest on April 10th comes in light of allegations of cheating and forgery, as stated by officials within the EOW wing, as reported by the Times of India.
The intricate web of allegations revolves around a polymer business established by the three brothers in 2021. Per the TOI report, the terms of the partnership agreement outlined that each Pandya brother would contribute 40 percent of the capital, with Vaibhav responsible for 20 percent. Profit sharing was also structured along the same lines.
However, the harmony in the partnership allegedly shattered when Vaibhav purportedly violated the terms of the agreement. He clandestinely founded another firm within the same trade sector without prior notification to his brothers, thereby breaching the established agreement.
Sources close to the investigation revealed that during this period, the profits of the original partnership enterprise experienced a notable decline, leading to an estimated loss of ₹3 crore for the Pandya brothers.
The arrest of Vaibhav Pandya has sent ripples through the cricketing and business communities, with many expressing shock and dismay over the alleged betrayal within the family.
Hardik Pandya, known for his aggressive batting style on the cricket field, has yet to issue a public statement regarding the developments involving his stepbrother. Similarly, Krunal Pandya, an established cricketer in his own right, has maintained silence on the matter.
The unfolding saga has also sparked discussions on the intricacies of family-run businesses and the challenges they face, especially concerning trust and accountability among relatives turned business partners.
Legal experts anticipate a rigorous legal battle ahead, as the Mumbai Police, armed with evidence and testimonies, proceed with their investigation into the alleged financial misconduct.
As the case gains traction in both legal and public spheres, questions linger about the potential ramifications for the Pandya family’s reputation and the future of their business ventures.
For now, Mumbai Police continue their inquiry into the allegations against Vaibhav Pandya, as the city watches closely, awaiting further developments in this high-profile case of familial discord turned legal dispute.
