HDFC CEO Jagdishan Challenges Lilavati Trust’s FIR in Supreme Court
HDFC Bank CEO Fights Back
Sashidhar Jagdishan, the Managing Director and CEO of HDFC Bank, has taken his battle to the Supreme Court, seeking to quash a contentious FIR lodged against him by the Lilavati Kirtilal Mehta Medical Trust, which operates Mumbai’s Lilavati Hospital.
The case, set for an urgent hearing on Friday before Justices M.M. Sundresh and K Vinod Chandran, follows the recusal of three Bombay High Court judges from Jagdishan’s plea to dismiss the criminal complaint, as argued by his counsel, senior advocate Mukul Rohatgi. The Trust alleges that Jagdishan received Rs 2.05 crore from a former trustee to harass the father of a current trust member, a claim purportedly backed by entries in a handwritten diary uncovered by the Trust.
Further accusations point to HDFC Bank offering Rs 1.5 crore in Corporate Social Responsibility (CSR) funds to hospital staff, allegedly to suppress evidence and obstruct the investigation. The dispute traces back to HDFC Bank’s claims of financial irregularities by the Trust, specifically targeting trustee Prashant Mehta and his family for failing to repay substantial loans. The bank asserts that the Trust’s legal actions, including the FIR, are retaliatory moves to intimidate and tarnish the reputation of both Jagdishan and the institution.
Also Read: Supreme Court Rules No Insurance Compensation for Deaths Due to Rash Driving
“Over two decades, the bank has pursued recovery and enforcement actions, only to face repeated frivolous lawsuits from Prashant Mehta and his family,” HDFC Bank stated, expressing confidence that the judiciary will see through the Trust’s “fraudulent intentions.”
Adding fuel to the fire, the Lilavati Trust has slapped a Rs 1,000 crore defamation suit against Jagdishan, accusing him of making “malicious and false” statements aimed at damaging the Trust and its permanent trustee, Prashant Mehta.
The Trust claims these remarks are part of a deliberate campaign to undermine the credibility and operations of the charitable organization. As the legal showdown looms, all eyes are on the Supreme Court’s hearing tomorrow, which could set the tone for resolving this high-stakes clash between one of India’s banking giants and a prominent medical trust.
Also Read: Kharge Slams Modi Govt Over China’s Exit from Indian Manufacturing, Export Curbs
