Hardik Pandya's stepbrother held for cheating cricketer of over Rs 4 crore in business
Mumbai, Apr 11: The Mumbai police have arrested cricketer Hardik Pandya's stepbrother for allegedly cheating him and his brother Krunal in polymer business to the tune of more than Rs 4 crore, an official said on Thursday.
The Economic Offences Wing (EOW) of the city police arrested 37-year-old Vaibhav Pandya on Monday on the charges of criminal breach of trust, criminal intimidation, criminal conspiracy, forgery and other relevant sections, he said.
"The cricketer brothers along with their stepbrother set up a partnership-based firm in Mumbai and started polymer business in 2021. As per the partnership terms, the siblings invested 40 per cent each, while Vaibhav invested 20 percent capital. It was decided that Vaibhav would handle daily operations of the business and the profits were distributed in the same ratio," the official said.
"Vaibhav then set up another firm dealing in the same business without informing the cricketers and started the business. With this, he violated the partnership agreement," he said.
Due to the new company, the profits of the original partnership firm came down and caused a loss approximate Rs 3 crore, the official said.
During this period, he increased his own profit by 20 to 33 per cent and caused loss to Hardik Pandya and his brother. Vaibhav also diverted funds from the partnership account to his own, which is around Rs 1 crore, he added.
When he was confronted by the cricketer, he allegedly threatened to tarnish the latter's reputation, he said.
A complaint was lodged by the accountant of the cricketer at the Khar police station on Monday, based on which a case was registered and it was transferred to the EOW.
As the involvement of Vaibhav Pandya came to light in the crime, he was placed under arrest by the EOW officials on the same day, he said.
He was produced in a local court, which remanded him in police custody till Friday, he said.
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South zone finalists announced at WAVES VFX challenge in Bengaluru
Bengaluru: The South Zone round of the WAVES VFX Challenge took place today in Bengaluru, organized by the Association of Bangalore Animation Industry (ABAI).
The day-long competition brought together talented participants from across southern India, with the goal of selecting top finalists who will go on to represent the region at the national finals next month during the WAVES Summit in Mumbai.
Finalists were selected in three categories:
Student Category
Winner: Soumya Das
Runner-up: Gagan HP
Professional Category
Winner: Mohamad Javeed
Runner-up: S Sai Chandan
Enthusiasts Category
Winner: Gagan Ajai
Over 1,500 entries were received from students, working professionals, and VFX enthusiasts, all centered around the theme “Super Hero Power.” Out of these, 14 entries were shortlisted to compete in today’s final round. One winner and one runner-up from each category were chosen to represent the South Zone in Mumbai.
ABAI Secretary R.K. Chand appreciated the strong participation and encouraged industry professionals to attend the Mumbai summit, which will host well-known personalities from films, advertising, and creative sectors. He also mentioned that the WAVES Challenge was recently launched in Bengaluru by Sanjay Jaju, Secretary, Ministry of Information and Broadcasting.
The event was inaugurated by Dr. Sagar Gulati, Director of the School of Creative Design and Information Technology at Jain (Deemed-to-be University), the zonal partner for the competition.
The day also featured two special sessions led by industry experts. Vijay Selvam from the global VFX studio MPC held a masterclass titled “Concept Reality,” where he discussed lighting, animation, compositing, and photorealistic effects. Students got the chance to interact with him during a Q&A session.
Another session was conducted by Rakesh H, Lead Head at The Mill, who spoke about how visual effects are used in advertising. Nearly 100 students attended these sessions, gaining valuable industry insights and learning opportunities.
