New Delhi:

Vaibhav Pandya, stepbrother of Mumbai Indians captain Hardik Pandya, has been detained by the Economic Offenses Wing (EOW) of Mumbai Police on charges of cheating to the tune of Rs 43 crore . The case was filed against him by his brothers Hardik Pandya and Krunal Pandya.

Hardik Pandya, known for his explosive batting and all-round ability, has filed a complaint against his stepbrother, accusing him of fraud and cheating. The charges revolve around financial discrepancies within a partnership the three formed in 2021.

According to the complaint, the Pandya brothers were involved in the polymer business along with Vaibhav and both siblings had a clear stake in the business. Hardik and Krunal will contribute 40% each in the capital, while Vaibhav’s share will be 20%. The arrangement provides that profits will be divided among the partners in proportion to their investments.

However, sources said Vaibhav allegedly diverted profits from the partnership to his personal account, thus reducing the returns to Hardik and Krunal. He also secretly increased his profit share to 33.3%, causing Pandya’s other brothers to suffer heavy losses.

The situation further escalated when Vaibhav allegedly transferred funds from the partnership account to another company without his brother’s knowledge or consent, exacerbating the financial pressure on Hardik and Krunal’s business interests. They lost nearly Rs 4.3 crore.

After discovering the discrepancies, Hardik and Krunal confronted Vaibhav but were threatened with defamation if they took legal action against him.

In response, the Pandya brothers’ accountant filed a first information report (FIR) with the Khar police station, prompting authorities to launch an investigation. The case was subsequently transferred to the Economic Crime Brigade for further review.

After thorough investigation, Vaibhav Pandya was arrested and remanded to police custody for five days.

Hardik Pandya has been making headlines since the Indian Premier League kicked off on April 22. He succeeds Rohit Sharma, who led the Indian Premier League to five championships, as the captain of the Indian Premier League team. The management’s decision to change the captain did not go down well with some fans, with Hardik Pandya being booed in all MI’s matches, including at home at Wankhede. Mumbai lost the first three games, which didn’t help his cause.