Indian Vice Captain Hardik Pandya’s stepbrother Vaibhav Pandya has been arrested by Mumbai police on charges of stealing INR 43 million from his brothers.
The arrest was made after Hardik Pandya filed a formal complaint against Vaibhav, citing the terrible family discord caused by financial mismanagement, Indian media reported on Thursday.
The Pandya brothers and Vaibhav had recently formed a business partnership in 2021, with an agreed-upon profit-sharing agreement. Each Pandya brother was entitled to 40 percent of the income and Vaibhav 20 percent. But Vaibhav allegedly took money out of the business to a new company he had formed.
Mumbai police said Vaibhav violated the terms of the agreement with the Pandya brothers by establishing his own firm in the same business (in the name of another person), without informing anyone.
The police apprehended Vaibhav on April 8 and presented him before a court. He has been placed in police custody until April 12 (today).