File picture of HDFC CEO Sashidhar Jagdishan
| Photo Credit: Special arrangement
HDFC Bank CEO and MD Sashidhar Jagdishan on Thursday (July 3, 2025) moved the Supreme Court challenging an FIR of cheating and fraud registered against him on a complaint filed by the Lilavati Kirtilal Mehta Medical Trust, which runs the prominent Lilavati Hospital in Mumbai.
Senior advocate Mukul Rohatgi, appearing for Mr. Jagdishan, mentioned the matter for urgent listing before a bench of Justices M.M. Sundresh and K. Vinod Chandran.
The bench said the matter would be listed for hearing on Friday.
“This is an urgent matter. I request for listing tomorrow on behalf of the HDFC bank and its MD. A frivolous FIR has been lodged against the MD and the bank by trustees of Lilavati hospital who are litigating against the other group of trustees,” Mr. Rohatgi told the bench.
“The bank has to recover money from them. In order to twist the arm, they have lodged an FIR through a magistrate against the MD,” he submitted.
Mr. Rohatgi said they had moved the Bombay High Court but three benches of the high court have so far recused themselves from hearing the matter.
He said the next tentative date given for hearing in the High Court was July 14.
“Everyday the bank is suffering,” the senior advocate said.
The allegation
According to the complaint filed by the Trust, Mr. Jagdishan allegedly accepted a bribe of ₹2.05 crore in exchange for providing financial advice to help the Chetan Mehta Group retain illegal and undue control over the Trust’s governance.
The Trust has accused Mr. Jagdishan of misusing his position as the head of a leading private bank to interfere in the internal affairs of a charitable organisation.
Mr. Jagdishan’s plea seeking quashing of the first information report (FIR) was first listed in the high court in June.
The FIR against Mr. Jagdishan was registered at the Bandra police station following an order by a Bandra magistrate court under section 175 (3) of the Bharatiya Nagarik Suraksha Sanhita (BNSS), based on an application moved by the Trust.
He was booked under alleged charges of cheating, criminal breach of trust, and criminal breach of trust by a public servant.
In a public statement issued earlier this month, the Trust alleged that the ₹2.05 crore payment was part of a larger conspiracy to “loot” the Trust and manipulate its decision-making processes in favour of the Chetan Mehta Group.
The Trust has also filed a petition before the high court seeking a Central Bureau of Investigation (CBI) probe into the matter.
Published – July 03, 2025 05:02 pm IST
