Mumbai Police have taken a significant step in the case involving Vaibhav Pandya, the stepbrother of renowned cricketers Hardik Pandya and Krunal Pandya. Vaibhav stands accused of deceitfully diverting approximately ₹4.3 crore from a business partnership, resulting in substantial financial losses for his stepbrothers.
The Allegations Unveiled
Vaibhav Pandya, aged 37, is accused of misconduct related to a partnership firm, which had the involvement of the Pandya brothers. Three years ago, they jointly ventured into a polymer business under specific terms: both Hardik and Krunal were to contribute 40% of the capital each, while Vaibhav would invest 20% and oversee daily operations.
Breach of Trust and Partnership Terms
However, the partnership took a turn for the worse when Vaibhav purportedly established another firm within the same trade without informing his stepbrothers. This clandestine action breached the partnership agreement, leading to a decline in profits from the original venture and an estimated loss of ₹3 crore.
Manipulation and Concealment
In addition to setting up a competing business, Vaibhav allegedly increased his own profit share from 20% to 33.3% without the knowledge of Hardik and Krunal. This manipulation further exacerbated the financial detriment suffered by the Pandya brothers.
Legal Action Ensues
The Economic Offences Wing of the Mumbai police has responded by charging Vaibhav Pandya with cheating and forgery, citing his actions in connection with the diversion of funds and violation of partnership terms.
Cricketers’ Silence
Despite the gravity of the situation, Hardik and Krunal Pandya have maintained their silence on the matter. Both are currently engrossed in their Indian Premier League commitments, with Hardik leading the Mumbai Indians and Krunal showcasing stellar performances for the Lucknow Super Giants in the 2024 season.
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