Mumbai: In the latest turn of events, Mumbai Police's department of Economic Office Wing have arrested Hardik Pandya's brother Vaibhav Pandya, in the case for an alleged business scam worth INR 4 crore. What makes the arrest highly surprising is that as per the latest developments and facts, Vaibhav Pandya scammed his own brother in the Polymer business.
The incident dates back to the calendar year of 2021, where the Pandya brothers came in partnership to start their Polymer business. The shares owned by Hardik Pandya and Krunal Pandya was 40 percent each and the rest of the 20 percent was owned by Vaibhav Pandya. The brothers reportedly agreed to share the profit in the above-mentioned ratio.
However, after the success of their business, it was Vaibhav Pandya, who was majorly looking after the operations of the company and upon receiving the profit, instead of sharing the profit as per the pre-agreement of the ratio, Vaibhav transferred the funds into another company. The company wasn’t a pre-existing one and was a startup, whose foundation was laid up by Vaibhav Pandya.
The decision reportedly met a huge disagreement and outrage from the two Pandya brothers (Hardik and Krunal) and upon the loss incurred of around INR 4.3 crore, the Mumbai Indians skipper lodged a complaint against his brother, deeming it a business scam. The complaint was made to the Mumbai Indians, who have now arrested Vaibhav Pandya and is under the police remand for at least 5 days.
The Mumbai Indians captain, who is already going through a lot on and off the field, finally found some much needed relief as his side won their first match of IPL 2024 and the skipper had the following to say during the post-match presenation ceremony:
"I would like to have this feeling more often. It was a great hard work. We did well to execute the plans and glad that everything clicked. We will be making some tactical changes. But this will be our 12 and everyone is excited to come in and chip whenever they get an opportunity. There is a lot of love and care going around. We have the belief and everyone is backing everyone. Everyone knew we wanted a win and today is the start. To get 77 or 80 after the first six overs, you don't ask for more. It was great and it was fantastic to see everyone chipping in whenever an opportunity arises," said Hardik Pandya, who gave the interview for the first time as a winning captain in IPL 2024.