Cricketer siblings Hardik and Krunal Pandya’s stepbrother Vaibhav, who was arrested for allegedly dishonest them of Rs 4 crore in a enterprise enterprise, on Friday instructed a Mumbai court docket all the matter was a household one and only a misunderstanding. Vaibhav Pandya (37) made the submission via his lawyer throughout his remand listening to. His police custody was prolonged until April 16. He was held by Mumbai police’s Financial Offences Wing (EOW) on Monday on the fees of prison breach of belief, prison intimidation, prison conspiracy, forgery and different related sections.

He was produced earlier than extra chief metropolitan Justice of the Peace (Esplanade court docket) L S Padhen on the finish of his preliminary police remand on Friday.

Through the listening to, Vaibhav’s lawyer Niranjan Mundargi instructed court docket “it was a household matter and the case has been filed on account of misunderstanding” and added that efforts have been on to resolve the matter.

Mundargi additional submitted that his consumer was cooperating with the probe and had no objection to the remand extension sought by police. The EOW had sought additional remand for seven days claiming that the probe was not full and materials info had not been recovered from the accused as but.

The Justice of the Peace, after listening to each side, famous the probe company has proven progress within the investigation and it wanted extra time to interrogate the accused as there have been numerous monetary features related to the case.

In response to police, Vaibhav, Hardik and Krunal arrange a polymer enterprise in partnership in Mumbai in 2021. Whereas Hardik and Krunal invested 40 per cent of the capital every, Vaibhav invested 20 per cent and the profit-loss was mounted in the identical 2:2:1 ratio.

As per police, it was determined that Vaibhav would deal with every day operations of the enterprise, however he allegedly arrange one other agency concerned in the identical enterprise with out informing Hardik and Krunal, within the course of violating the partnership provisions.

Resulting from this improvement, income of the unique agency got here down, which resulted in a lack of Rs3 crore to Hardik and Krunal, whereas Vaibhav’s personal revenue elevated by 20-33 per cent.

The accused additionally allegedly diverted round Rs 1 crore from the agency to his personal account, police mentioned, leading to whole lack of Rs 4 crore to the cricketer siblings.

(This story has not been edited by NDTV employees and is auto-generated from a syndicated feed.)