The business partner of the former Indian captain committed a fraud of more than 15 crores
On Dhoni’s complaint, his former business partner Maher Diwakar was arrested (Photo: File).
Former Indian captain Mahendra Singh Dhoni’s former business partner has been arrested for allegedly cheating.
According to media reports, former Indian captain Mahendra Singh Dhoni, who represented Chennai Super Kings in the Indian Premier League (IPL), Meher Diwakar, a former business partner, was arrested on charges of fraud.
On behalf of the legendary cricketer, a complaint was filed in the District Court Ranchi against former business partners Meher Diwakar and Soumya Das and it was stated that many cricket academies have been established by using the name of (Dhoni) abroad to establish cricket academies.
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The former cricketer’s business partner Maher Diwakar, director of Arca Sports Management Private Limited, was taken into police custody yesterday.
Diwakar is also accused of taking money for MS Dhoni’s cricket and sports academies, resulting in an alleged fraud of over Rs 15 crore.
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Arca Sports was liable to pay the franchise fee and share in the profits as per the ratio specified in the agreement, however all the terms and conditions were violated.
The Chennai Super Kings captain had claimed that the cricketer academies were set up by the partners without their knowledge, besides the authorization letter provided by Dhoni to the partners was revoked on 15 August 2021.
Despite the cancellation of the letter, the business partners continued to set up cricket academies and sports complexes in Dhoni’s name.
Dhoni has filed a case under Sections 120, 406B, 420, 467, 468, 471 of the Indian Penal Code (IPC) against Arca Sports Management Pvt. .