Hardik Pandya's stepbrother Vaibhav has been arrested by the Mumbai police after he reportedly cheated him and Krunal Pandya in business. According to a report in the Times of India, the 37-year-old committed a fraud of Rs 4.3 crore against the cricketers and was subsequently charged by the cops with cheating and forgery. Both Hardik and Krunal are currently competing in the IPL 2024, representing Mumbai Indians and Lucknow Super Giants, respectively. Hardik Pandya and Krunal Pandya Host Bhajan Session At Their Home Amidst IPL 2024, Sing and Dance to the Tunes of ‘Hare Rama-Hare Krishna’ (Watch Video).

According to a report in the Times of India, Vaibhav started a polymer business with Hardik and Krunal in 2021. As per the terms of the partnership agreement, both the cricketers would put in 40% of the capital required while the step-brother would contribute 20% and also handle all the work. The profits of this business would be shared by the three brothers in the same ratio as their investment. However, the report adds that Vaibhav violated their agreement by starting a similar business. His sales subsequently shot up while the profits of the business, which had been set up by the three brothers, nosedived. A loss of Rs 3 crore was reported while Vaibhav's own profit increased. Hardik Pandya Reacts After Mumbai Indians Register Their First Win of IPL 2024 With 29-Run Victory Over Delhi Capitals (See Post).

Not just this but he also is said to have diverted funds from the account of the business firm which the three brothers had set up originally and took away Rs 1 crore from there. Vaibhav was subsequently charged with cheating and forgery by the Economic Offences Wing of Mumbai Police for violating the agreement and also diverting the funds. Meanwhile, Hardik earlier, got his first win as Mumbai Indians captain after three losses to start the season. Krunal also has played a crucial role for his franchise, Lucknow Super Giants this season.

(The above story first appeared on LatestLY on Apr 11, 2024 10:29 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).