Hardik Pandya committed fraud of Rs 4.3 crore, step brother Vaibhav Pandya arrested on charges of forgery.

Hardik Pandya
Mumbai Indians skipper Hardik Pandya celebrates with fans after winning the Indian Premier League (IPL) cricket match against Delhi Capitals at the Wankhede Stadium
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Hardik Pandya

Hardik Pandya’s half-brother Vaibhav Pandya was arrested for allegedly defrauding the cricketer and his brother Krunal of Rs 4.3 crore.
Mumbai Police has made an arrest in a high-profile case involving Vaibhav Pandya, stepbrother of cricketers Hardik and Krunal Pandya, who allegedly defrauded them of around ₹4.3 crore in a business partnership.

According to a report in Times of India, 37-year-old Vaibhav is accused of misappropriating around ₹4.3 crore from a partnership firm, causing huge financial loss to Hardik and Krunal Pandya.

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The alleged misconduct included misappropriation of funds and violation of partnership terms. According to the report, the three men had jointly set up a polymer business three years ago with specific terms: the cricketer brothers were to invest 40% of the capital, while Vaibhav was to contribute 20% and manage the daily operations. .

Profits were to be distributed according to these shares. However, Vaibhav allegedly set up another firm in the same business without informing his half-brothers, thus violating the partnership agreement.

As a result, profits from the original partnership declined, leading to an estimated loss of ₹3 crore. Additionally, it is alleged that Vaibhav secretly increased his own profit share from 20% to 33.3%, further impacting the financial interests of Hardik and Krunal Pandya.

The Economic Offenses Wing of Mumbai Police has charged Vaibhav Pandya with fraud and forgery in connection with these operations.

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The Pandya brothers, known for their cricketing talent, have not commented publicly on the matter.

Hardik, Krunal are currently participating in IPL

Both the cricketer brothers are currently busy with their Indian Premier League commitments; While Hardik Pandya leads the Mumbai Indians, Krunal has impressed with the Lucknow Super Giants in the 2024 season.

The last few months have been tough for Hardik as he recovers from the ankle injury he sustained during the 2023 World Cup. Additionally, his elevation as MI captain was met with significant opposition from the franchise’s own fans. The all-rounder had a tough start as captain as MI suffered three consecutive defeats before registering their first win last week, beating Delhi Capitals by 29 runs.

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