Vaibhav Pandya, the lesser-known stepbrother of cricketers Hardik and Krunal Pandya, has been remanded to Financial Offenses Wing (EOW) guardianship until April 16, a day after he was captured for purportedly cheating his kin in polymer commerce to the tune of more than ₹4 crore. Vaibhav Pandya, 37, was secured by Mumbai police on Monday on charges of criminal breach of belief, criminal terrorizing, criminal scheme, fraud, and other important areas of the Indian Corrective Code.

A police official familiar with the case said that the Pandya brothers, along with Vaibhav, had set up a partnership-based firm in Mumbai for polymer commerce operations in 2021. The course of action directed that each kin would contribute 40 per cent capital, whereas Vaibhav contributed 20 per cent. It was agreed that Vaibhav would manage day-to-day commerce operations, with benefits to be disseminated accordingly.

However, Vaibhav purportedly built up another company in the same industry without advising his brothers, in this way breaching the organization’s agreement. This activity is supposedly driven by a diminishment in benefits for the unique firm, resulting in an inexact misfortune of ₹3 crore. During this period, Vaibhav supposedly expanded his claim benefit by 20 to 33 per cent and caused misfortune to Hardik and Krunal.

Also Read: ‘That’s bad bowling’: Yohan Blake criticizes Royal Challengers Bengaluru after poor performance in Mumbai

It is also affirmed that Vaibhav occupied reserves from the association account to his individual accounts, measuring around ₹1 crore. When gone up against by Hardik and Krunal for almost his activities, Vaibhav supposedly turned to danger, claiming he would discolour their notorieties if they sought after the matter. Following a complaint held up by the Pandya brothers’ bookkeeper at Khar police station, an examination was started, and the case was hence exchanged to the Financial Offenses Wing. Vaibhav has been charged under segments 420 (cheating), 406 (criminal breach of belief), 408 (criminal breach of belief by a worker), 465 (fraud), 467 (fraud of important security), 471 (utilizing as veritable a manufactured archive or electronic record), 34 (common purposeful), 120 B (criminal scheme), and 506 (criminal terrorizing) of the Indian Correctional Code.