25.5 C
Monday, May 20, 2024

JKCA Senior Men’s League: Imtiyaz Ganai takes five-wicket-haul

Left-arm spinner Imtiyaz Ganai on Sunday picked...

History Made: Manchester City win Premier League for record 4th consecutive time

Srinagar: Writing another chapter in history, Manchester...

Pandya brothers cheated of INR 4.3 crore, stepbrother Vaibhav Pandya gets arrested

CricketPandya brothers cheated of INR 4.3 crore, stepbrother Vaibhav Pandya gets arrested

Srinagar: The Hardik Pandya and Krunal Pandya have suffered a cheating that has resulted in a financial loss to the the duo.

Now Mumbai Police have arrested Vaibhav Pandya, the stepbrother of Hardik and Krunal Pandya, who allegedly cheated them of approximately ₹4.3 crore in a business partnership.

According to a report from The Times of India, 37-year-old Vaibhav is accused of diverting around ₹4.3 crore from a partnership firm, leading to a significant financial loss for Hardik and Krunal Pandya.

The alleged misconduct includes the diversion of funds and violation of partnership terms. According to the report, the three individuals jointly established a polymer business three years ago, with specific terms: the cricketer brothers were to invest 40% of the capital each, while Vaibhav would contribute 20% and manage daily operations.

Profits were to be distributed according to these shares. However, Vaibhav reportedly established another firm in the same trade without informing his stepbrothers, 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.

Check out our other content

Check out other tags:

Most Popular Articles