Mumbai police have taken Vaibhav Pandya into custody, alleging his involvement in defrauding cricketers Hardik and Krunal Pandya of approximately Rs 4 crore in a business transaction. According to The Times Of India, Vaibhav, aged 37, purportedly redirected around Rs 4.3 crore from the joint venture, resulting in financial losses for the Pandya brothers.

Authorities from the Economic Offences Wing of Mumbai police have charged Vaibhav with offenses including cheating and forgery, as reported by TOI.

The partnership was established with the aim of operating a polymer business in 2021, with each brother contributing capital according to predetermined terms. Hardik and Krunal each invested 40% of the capital, while Vaibhav provided 20%.

However, Vaibhav allegedly violated the agreed-upon terms by clandestinely establishing another firm engaged in the same trade, without informing his brothers. This action contravened the terms of their business agreement.

By : Kruthiga V S

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