Pandya brothers sue stepbrother over disputed business partnership

Vaibhav Pandya, the stepbrother to cricketers Krunal and Hardik Pandya, was arrested on the charges of cheating today. According to a statement from the Economic Offences Wing (EOW) of the Mumbai Police, stepbrother Vaibhav Pandya allegedly embezzled around ₹4.3 crore from a partnership firm owned by the three brothers.

A polymer business was set up by the brothers in 2021, with Hardik and Krunal contributing 40% capital each, and Vaibhav bringing in the remaining 20%. According to the partnership agreement, the profits from the business were to be distributed in the same proportion, i.e. 40% each for Krunal and Hardik Pandya, and 20% for Vaibhav.

These conditions, however, were violated by Vaibhav, who opened another subsidiary of the firm without informing the other two, causing a loss of ₹3 core.

Moreover, Vaibhav was taking a 33.3% share instead of his 20% and also withdrew an amount of ₹1 crore from the business.

According to reports, Hardik and Krunal had tried talking to Vaibhav about the issue, after which he allegedly threatened them. This led to Krunal and Hardik Pandya taking action against the stepbrother.

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