Court extends police custody remand of Hardik Pandya’s stepbrother, Vaibhav

Vaibhav Pandya, the stepbrother of cricketers Hardik Pandya and Krunal Pandya, allegedly duped the brothers of ₹4.25 crore

MUMBAI: A metropolitan magistrate court on Friday extended the police custody remand of 37-year-old Vaibhav Pandya, the stepbrother of cricketers Hardik Pandya and Krunal Pandya till April 17, arrested by the Economic Offences Wing (EOW) of the Mumbai police for allegedly duping the brothers of ₹4.25 crore.

Mumbai, India – April 12, 2024: Mumbai police have arrested Vaibhav Pandya, the lesser-known stepbrother of cricketers Hardik and Krunal Pandya for allegedly cheating them of around ₹4 crore in business, it has been produced in Killa Court, in Mumbai, India, on Friday, April 12, 2024. (Photo by Bhushan Koyande/HT Photo)

EOW requested an extension of EOW’s remand by an additional seven days, citing ongoing investigations and the need to recover material information. The agency informed the court of their intent to interrogate and confront Vaibhav with certain company directors, as the money from the LLP had been transferred to their accounts. They emphasised the necessity to trace the diversion of funds by Vaibhav and to determine if there were any more individuals involved in the alleged diversion.

Vaibhav’s counsel, advocate Niranjan Mundargi, however, claimed that the case was filed due to some misunderstanding, and they are trying to settle the matter amicably. The lawyer submitted that the accused had cooperated with the investigators.

“It is a family matter that they were trying to resolve amicably. The complaint was filed due to some misunderstanding. Everything was recovered and nothing remains to be recovered,” said Mundargi.

After hearing both sides, additional chief metropolitan magistrate LS Padhen extended Vaibhav’s police custody remand, observing that the agency had shown progress in the investigation. The court noted the financial aspects of the case and determined that the agency required additional time for a thorough investigation and interrogation of the accused in custody. Consequently, Vaibhav’s remand was extended until April 16.

According to the EOW officials, the Pandya brothers, along with Vaibhav, established an LLP in 2021 to manage their business company, Polymers. Vaibhav, entrusted with daily operations, allegedly breached agreements by secretly establishing a competing business under a false identity. He purportedly diverted funds from the partnership, increased his stake, and forged his brothers’ signatures. When confronted, he allegedly threatened them, prompting the brothers to file a complaint with the Khar police. The case was later transferred to the EOW for investigation.

Vaibhav has been charged under sections 420 (cheating), 406 (criminal breach of trust), 408 (criminal breach of trust by an employee), 465 (forgery), 467 (forgery of valuable security), 471 (using as genuine a forged document or electronic record), 34 (common intention), 120 B (criminal conspiracy), and 506 (criminal intimidation) of the Indian Penal Code.