HDFC Bank CEO Sashi Jagdishan Moves to Bombay HC to Quash Lilavati Trust FIR; Details Here

HDFC Bank MD and CEO Sashidhar Jagdishan has moved to the Bombay High Court to get the FIR lodged against him quashed. In a plea filed by the HDFC Bank CEO before the HC, Jagdishan sought the court’s intervention to quash the FIR lodged against him by the Lilavati Kirtilal Mehta Medical Trust, which owns the Lilavati Hospital, the Bar and Bench reported. 

The hearing first came before the division bench of Justice AS Gadkari and Justice Rajesh Patil. But both the judges recused themselves and then matter was listed to be heard before Justice Sarang Kotwal and Justice Shyam Chandak. However, Justice Kotwal also recused himself from hearing the matter.

HDFC Bank MD and CEO’s plea will now be assigned to another bench by an administrative order of Bombay HC’s Chief Justice, the Bar and Bench reported.

Case Background 

The FIR against Jagdishan was lodged by the Kirtilal Mehta Medical Trust earlier this month, alleging he accepted a Rs 2.05 crore bribe. The trust in a statement reportedly accused the CEO of being part of a broader plot in which he assisted the Chetan Mehta Group in “looting the Trust” and helped them to retain illegal control over the Trust.

Besides this, the trust alleged that it made deposits and investments worth Rs 48 crore with the bank since the financial year 2022 and implied a conflict of interest. Additionally, the hospital’s governing body alleged that Rs 1.5 crore was offered by Jagdishan under the pretext of corporate social responsibility (CSR).

The HDFC, however, denied allegations against its chief and said the accusations do not stand the test of truth. 

“The allegations and insinuations made by the Trustees are devoid of any iota of truth whatsoever. Neither the bank nor its CEO has engaged in any activity that is illegal, unethical or improper,” said an HDFC Bank spokesperson, according to ET.