Indian cricket stars Hardik and Krunal Pandya have found themselves embroiled in a legal battle with their stepbrother, Vaibhav Pandya, over allegations of financial deceit amounting to ₹4.3 Crore.
Reports suggest that Vaibhav, who shared a close relationship with the late father of Hardik and Krunal, allegedly breached a partnership agreement involving a polymer company established three years ago. Under the terms, Hardik and Krunal each invested 40% of the capital, while Vaibhav contributed 20% and managed the company's daily operations. Profits were to be shared proportionally.
However, Vaibhav purportedly violated the agreement by initiating a separate business in the same industry without informing his brothers. This action led to significant financial losses for the company, estimated at ₹3 Crore.
Moreover, Vaibhav allegedly raised his profit share from 20% to 33.3% without consent, resulting in an additional ₹4.3 Crore diverted from Hardik and Krunal's rightful earnings.
The situation worsened when it came to light that Vaibhav had transferred approximately ₹1 Crore from the company's account to his personal account.
Upon discovery of these discrepancies, Hardik confronted Vaibhav, who allegedly responded with threats to tarnish Hardik's reputation.
Taking legal action, Hardik lodged a complaint against Vaibhav at the Khar police station on April 10, 2024. Subsequently, the case was referred to the Economic Offences Wing (EOW).
Vaibhav was arrested by the EOW on charges including criminal breach of trust, criminal intimidation, criminal conspiracy, and forgery. He was presented before the court on the same day and remanded to police custody until April 12, 2024.
Neither Hardik nor Krunal has publicly commented on the matter thus far.
This incident highlights yet another case of financial fraud involving Indian cricket personalities. Just weeks ago, former U-19 cricketer Rishabh Pant was allegedly scammed of ₹1.63 Crore. (ISH) released a video addressing the issue, which can be viewed [ish.news/wb-30-12-2022_3].
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