HDFC Bank, India’s largest personal sector financial institution has dismissed allegations against it’s MD & CEO Sashidhar Jagadishan, by Trustees and officers of Lilavati Kirtilal Mehta Medical Trust that runs Mumbai’s Lilavati Hospital at Bandra.
It mentioned unscrupulous individuals had been abusing the authorized course of to thwart the recovery of the lengthy excellent mortgage due to the Bank from recalcitrant defaulters.
Earlier on Saturday (June 7, 2025), officers and representatives of the belief at a press convention demanded the suspension and prosecution of Mr Jagdishan, for his alleged “direct involvement in serious of financial fraud, criminal conspiracy, abuse of fiduciary position, evidence tampering, and obstruction of justice.”
The Trust which is subject material of household feud spanning practically 20 years and has secured a decrease courtroom order for submitting of FIR has alleged that Mr Jagdishan had obtained ₹2.05 crore in unaccounted money funds from former trustees, facilitated “illegal deposit of ₹25 crore of Trust funds into HDFC Bank without any resolution, approval, or oversight” and availed “preferential medical treatment and waivers for him & his family at Lilavati Hospital in exchange for complicity and silence.”
In a press release HDFC Bank spokesperson mentioned, “HDFC Bank’s MD and CEO Mr. Sashidhar Jagdishan is being targeted by unscrupulous persons who are abusing the legal process to thwart the recovery of the long outstanding loan due to the Bank from recalcitrant defaulters.”
“The allegations made by Lilavati Trust, its Trustees and Officials against the Bank’s MD and CEO are baseless and malicious. The outrageous and preposterous allegations are strongly and categorically denied,” the spokesperson mentioned.
“The Trustee, Prashant Mehta and his family members owe substantial amounts to HDFC Bank which were never repaid. Recovery and enforcement actions have been taken by the Bank over two decades and at every stage Prashant Mehta and his other family members have launched numerous vexatious legal actions,” the assertion mentioned.
“Having consistently failed at all levels including the Hon’ble Supreme Court, they have now resorted to the recent mala fide personal attacks on the Bank’s MD & CEO with the sole objective of intimidating and bullying the Bank and its MD & CEO from carrying out the mandate of recovering all outstanding loans in every possible manner permissible under law,” the assertion added.
The Bank mentioned it has obtained complete authorized recommendation and illustration on this regard and is dedicated to pursuing authorized cures and choices to defend its MD & CEO’s repute.
“The Bank takes immense pride in the integrity and leadership of its MD & CEO. The Bank is confident that our judicial process will recognise the fraudulent intention and devious objectives of the Trustee and officials of Lilavati Trust of tarnishing the image of the Bank and its MD and CEO,” it mentioned.
Published – June 08, 2025 12:58 am IST
