MS Dhoni sues business partners for allegedly defrauding him of Rs 15 cr

According to an NDTV report, Dhoni has sued Mihir Diwakar and Soumya Vishwas of Aarka Sports and Management Limited in Ranchi court in connection with a business deal signed in 2017.

Diwakar had allegedly signed a contract with the Indian cricket icon in 2017 to set up cricket academies across India and in foreign countries in the cricketer's name.

However, he failed to meet the conditions stipulated in the agreement, as per the complaint.

Aarka Sports was liable to fulfill the franchise fee and adhere to the profit-sharing ratio outlined in the agreement, said Dhoni’s lawyer Dayanand Singh, according to NDTV.

However, they breached all the terms and conditions laid down in the agreement.

The partners continued to establish academies without sharing any information with Dhoni and failed to make the required payments.

Furthermore, the authority letter granted to them was revoked on August 15, 2021.

Dhoni, through his lawyer, has claimed that the firm failed to honour the agreement norms, causing him to lose more than Rs 15 crore, the report said.

The sports company's website has a huge photo of MS Dhoni as its cover image and asserts it specialises in athlete and player management along with offering "top-class consultancy," reported NDTV.

According to the website, Diwakar holds the position of managing editor in the company, and Dhoni is highlighted as a mentor in the firm.