In the fraud case filed by brother, the Mumbai Police’s Economic Offences Wing has extended the custody of Vaibhav Pandya until April 19, following allegations of cheating leveled against him by his stepbrothers, cricketers Hardik and Krunal Pandya. Vaibhav Pandya, aged 37, stands accused of orchestrating a deceitful scheme that allegedly defrauded the Pandya brothers of a staggering ₹4 crore through a joint business venture.
This is how it all begins between Vaibhav Pandya & Pandya brothers:-
The saga began when the Pandya brothers, in collaboration with Vaibhav Pandya, embarked on a partnership-based venture centered around the polymer business in Mumbai in 2021. Each party was to invest a specific percentage of capital, with Vaibhav entrusted to oversee the day-to-day operations.
However, allegations emerged suggesting that Vaibhav Pandya clandestinely established another firm within the same industry, a move that purportedly violated the terms of their partnership agreement.
As the new company flourished, the profits of the original venture purportedly dwindled, resulting in significant financial losses estimated at around ₹3 crore for the Pandya brothers. Furthermore, it is alleged that Vaibhav Pandya, in a bid to enrich himself, manipulated profit margins and diverted funds from the partnership account to his personal coffers, amounting to approximately ₹1 crore.
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Vaibhav’s arrest on April 8 unleashed a flurry of legal proceedings, with the magistrate court now extending his custody to facilitate further investigation by the authorities.
Despite claims of a “misunderstanding” and labeling the issue as a “family matter,” Vaibhav finds himself entangled in a web of criminal charges, including criminal breach of trust, criminal conspiracy, forgery, and criminal intimidation, among others, under the Indian Penal Code.
The unfolding narrative sheds light on the complexities of familial relationships intertwined with business ventures and underscores the importance of transparency and trust in such endeavors.
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As the legal battle ensues, the spotlight remains firmly fixed on Vaibhav Pandya, whose actions have not only strained familial ties but also sparked a reckoning with the consequences of alleged betrayal and breach of trust.
In a quest for justice, the truth behind the accusations against Vaibhav Pandya awaits revelation, with the wheels of justice turning inexorably towards resolution.