Mumbai Indians Captain Hardik Pandya Loses Crores in Alleged Business Fraud by Stepfather

Mumbai Police Arrest Vaibhav Pandya in Business Dispute with Cricketers Hardik Pandya & Krunal Pandya

Indian cricketer Hardik Pandya and his brother Krunal Pandya were allegedly defrauded by their stepbrother Vaibhav Pandya in a business deal. Vaibhav has been arrested on charges of cheating and financial crimes.

Hardik & Krunal Pandya

Hardik Pandya

Hardik is a flamboyant all-rounder who has become a household name in Indian cricket. Feared for his explosive batting with the power to clear boundaries with ease, he’s also a handy right-arm fast-medium bowler capable of swinging the new ball and bowling tight spells. Pandya’s aggressive style and charismatic personality have made him a fan favorite. He has been a key member of India’s white-ball teams, playing a pivotal role in their 2017 Champions Trophy victory and featuring prominently in World Cups. While injuries have hampered his consistency, Hardik Pandya remains a crucial player for India, currently leading the Mumbai Indians in the IPL.

Krunal Pandya

Krunal Pandya, the elder brother of Hardik Pandya, is a skilled left-handed all-rounder who has represented India across all formats. Following in his brother’s footsteps, Krunal established himself as a vital cog in limited-overs teams, known for his aggressive left-handed batting and his accurate left-arm spin bowling. He rose to prominence in domestic cricket before making his international debut in 2016. While not currently part of the national setup, Krunal remains a valuable asset in domestic tournaments like the IPL, where he has played for the Lucknow Super Giants.

Indian cricket star Hardik Pandya and his brother Krunal Pandya have reportedly been the victims of a business scam allegedly perpetrated by their stepbrother, Vaibhav Pandya. According to Mumbai Police, Vaibhav has been arrested on charges of cheating and financial crimes. 

Details of the Alleged Misconduct: 

  • In 2021, the Pandya brothers entered into a business partnership with Vaibhav to establish a polymer company in Mumbai. 
  • The agreement stipulated a profit-sharing ratio of 40-40-20, with Hardik and Krunal each holding a 40% stake and Vaibhav holding the remaining 20%. Vaibhav was entrusted with managing the day-to-day operations. 
  • However, Vaibhav is accused of diverting funds from the joint company to a separate firm he set up without informing his stepbrothers. This allegedly led to a decline in profits for the original company. 
  • Furthermore, Vaibhav is alleged to have increased his own profit share from the agreed-upon 20% to 33.3%, further impacting the Pandya brothers financially. 
  • When confronted about the discrepancies, Vaibhav reportedly threatened the brothers in an attempt to silence them. 
Hardik & Krunal Pandya

Legal Proceedings: 

Following the alleged misconduct, the Mumbai Police’s Economic Offences Wing apprehended Vaibhav in early April 2024. He faces charges of cheating, criminal breach of trust, forgery, and criminal intimidation. 

Important Note: 

It is crucial to acknowledge that this is just one side of the story. Vaibhav Pandya may have his own explanation for the events that unfolded. The ongoing legal proceedings will determine the veracity of the allegations.  

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