In a shocking turn of events that has sent ripples through the cricket community, Hardik Pandya’s stepbrother, Vaibhav Pandya, has been arrested for allegedly cheating the renowned cricketer and his brother Krunal Pandya out of over ₹4 crore in a business venture.
Pandya’s Partnership Gone Wrong
Hardik and Krunal, prominent figures in the cricketing sphere, ventured into the polymer business with their stepbrother Vaibhav. The trio established a partnership firm in Mumbai in 2021, with the Pandya brothers investing 40% each and Vaibhav contributing 20% to the capital. The agreement was clear: Vaibhav would manage the day-to-day operations, and profits would be shared according to their respective investments.
Betrayal in Business
The Financial Foul Play
The Economic Offences Wing (EOW) of the Mumbai Police has laid out the specifics of the fraud. Vaibhav is accused of siphoning approximately ₹1 crore from the partnership account to his own and manipulating profit percentages to his advantage. This deceitful act resulted in a loss of around ₹3 crore for the Pandya brothers.
However, the harmony of this partnership was short-lived. Vaibhav allegedly set up a separate proprietorship firm, dealing in the same line of business, without informing Hardik and Krunal. This clandestine move not only violated the partnership agreement but also diverted profits from the original firm, causing significant financial losses.
The Confrontation and Aftermath
When confronted with the discrepancies, Vaibhav allegedly threatened to tarnish Hardik’s reputation, adding a layer of criminal intimidation to the already complex case. The situation escalated to the point where the accountant of the cricketer lodged a complaint, leading to Vaibhav’s arrest and the subsequent police investigation.
The Legal Proceedings
Vaibhav Pandya now faces charges of criminal breach of trust, forgery, and cheating, among other allegations. The court proceedings are underway, with Vaibhav remanded in police custody as the investigation continues to uncover the full extent of the fraud.
Looking Ahead
As the legal battle unfolds, the cricket world watches with bated breath. The outcome of this case will not only determine Vaibhav Pandya’s fate but will also serve as a cautionary tale about trust and deception in the high-stakes worlds of business and sports.
The Impact on the Cricketing Brothers
The outcome of this case will not only determine Vaibhav Pandya’s fate but will also serve as a cautionary tale about trust and deception in the high-stakes worlds of business and sports.
Reactions from other cricketers
The case involving Hardik Pandya’s stepbrother, Vaibhav Pandya, has certainly caught the attention of the cricketing world. However, the news reports do not specifically mention reactions from other cricketers at this time.
The cricket community often shows solidarity in such personal matters, and it’s likely that fellow cricketers may offer support to Hardik and Krunal Pandya privately. Public statements from other players might be limited due to the sensitive nature of the ongoing legal proceedings.
As the case is still developing, more information and reactions may emerge in the coming days.
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