Hardik Pandya’s Stepbrother, Vaibhav Pandya, Arrested for Allegedly Cheating Family in Rs. 4.3 Crore Scam. Vaibhav Pandya, who is the stepbrother of Mumbai Indians’ skipper Hardik Pandya, has been taken into custody by the Economic Offence Wing (EOW) of Mumbai Police. The arrest, made on April 10, stems from accusations that Vaibhav deceived his brothers, Hardik and Krunal Pandya, in a business deal, leading to a loss of over Rs. 4 crore.

The dispute revolves around a polymer business venture established in 2021, where Hardik and Krunal were to invest 40% of the capital each, while Vaibhav would contribute 20%. However, Vaibhav allegedly violated the partnership agreement by secretly launching a similar business without informing his brothers, causing profits to dwindle for the original venture.

Violation of partnership agreement leads to legal consequences

Facing charges of cheating and forgery, Vaibhav’s arrest follows a complaint filed against him. It’s alleged that his actions resulted in a Rs. 3 crore loss for the original partnership. Reports suggest that Vaibhav diverted funds from the partnership firm’s account to his own, pocketing around Rs. 1 crore. Upon being confronted by Hardik, he purportedly resorted to threats against tarnishing his reputation.

MI set to clash with RCB amidst Pandya family scandal

In another development, Mumbai Indians are scheduled to take on Royal Challengers Bengaluru at the Wankhede Stadium on April 11. Having secured their first victory after three initial losses, Mumbai Indians seek to improve their standing in the points table. Meanwhile, Royal Challengers Bengaluru, currently at the bottom of the table with four losses out of five matches, faces an uphill battle. Google’s win probability favors Mumbai Indians with a 57% chance of clinching victory.

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Vaibhav Pandya’s arrest underscores the significance of upholding partnership agreements and ethical business conduct. The incident serves as a cautionary tale, emphasizing the importance of transparency and responsibility in business dealings to evade legal repercussions.