Cricket

Cricketer Pandya Brothers' Stepbrother Vaibhav Pandya's Police Custody Extended in Rs 4 Crore Cheating CaseMumbai Police's Economic Offences Wing (EOW) has secured an extension of police custody for Vaibhav Pandya, the stepbrother of Indian cricketers Hardik and Krunal Pandya, until April 19. Vaibhav was arrested on April 8 for allegedly cheating the Pandya brothers of over Rs 4 crore through a joint business venture.According to the police, the Pandya brothers and Vaibhav had established a partnership-based firm in Mumbai in 2021 to launch a polymer business. The brothers invested 40% each, while Vaibhav contributed the remaining 20%. As per the agreement, Vaibhav was responsible for managing the daily operations, and profits were to be distributed equally.However, the police allege that Vaibhav violated the partnership agreement by setting up a separate firm in the same industry without informing his stepbrothers. This allegedly led to a decline in the profits of the original partnership firm, resulting in a loss of approximately Rs 3 crore.Furthermore, Vaibhav is accused of increasing his own profit share from 20% to 33%, causing financial harm to Hardik and Krunal Pandya. He is also alleged to have diverted funds from the partnership account to his own, amounting to around Rs 1 crore.During his previous court appearance, Vaibhav claimed that the case was a "family matter" and the result of a misunderstanding. However, his lawyer did not oppose the EOW's request for an extension of custody, which was granted by the magistrate court.The investigation into the case is ongoing, and the police are expected to gather further evidence to support their allegations against Vaibhav Pandya.

Cricketer Siblings' Stepbrother Arrested for Alleged Rs 4 Crore FraudMumbai police have arrested Vaibhav Pandya, the stepbrother of Indian cricketers Hardik and Krunal Pandya, for allegedly cheating them of Rs 4 crore in a business venture. Vaibhav was arrested on Monday by the Economic Offences Wing (EOW) on charges of criminal breach of trust, criminal intimidation, criminal conspiracy, forgery, and other relevant sections.According to the police, Vaibhav, Hardik, and Krunal established a polymer business in partnership in Mumbai in 2021. Hardik and Krunal invested 40% of the capital each, while Vaibhav invested 20%. The profit-loss ratio was fixed at 2:2:1.However, police allege that Vaibhav violated the partnership agreement by setting up another firm involved in the same business without informing his stepbrothers. This resulted in a decline in the profits of the original firm, causing a loss of Rs 3 crore to Hardik and Krunal. Vaibhav's own profits, on the other hand, increased by 20-33%.The accused is also alleged to have diverted around Rs 1 crore from the firm to his own account, resulting in a total loss of Rs 4 crore to the cricketer siblings.During his remand hearing on Friday, Vaibhav's lawyer claimed that the matter was a family dispute and a misunderstanding. He added that efforts were underway to resolve the issue. The police, however, sought further remand for seven days, arguing that the investigation was incomplete and material information had not been recovered from the accused.The magistrate granted the police's request, noting that the probe agency had shown progress in the investigation and needed more time to interrogate the accused regarding the financial aspects of the case.