HDFC Bank CEO Moves Supreme Court Against FIR Filed by Lilavati Hospital Trust

Sashidhar Jagdishan, the CEO and Managing Director of HDFC Bank, has filed a petition in the Supreme Court. He has requested the court to cancel a police case (FIR) filed against him by the Lilavati Kirtilal Mehta Medical Trust, which runs the famous Lilavati Hospital in Mumbai.

What is the case about?

The case was mentioned today before two judges of the Supreme Court — Justice MM Sundresh and Justice K Vinod Chandran. Senior lawyer Mukul Rohatgi, who appeared on behalf of the HDFC Bank CEO, told the court that the case is false and made to put pressure on him and the bank.

Rohatgi said: “The FIR is baseless. It was filed by the Lilavati Hospital trustees only because the bank is trying to recover money from them. They are doing this to twist our arm. Even three judges of the Bombay High Court could not hear the case.”

The Supreme Court has agreed to hear the matter on the next day (tomorrow).

The FIR (First Information Report) was filed in Bandra Police Station in Mumbai. It includes serious charges under the Indian Penal Code:

• Section 406: Criminal breach of trust
• Section 409: Criminal breach of trust by a public servant
• Section 420: Cheating

The case was earlier filed in Bombay High Court but why did HDFC Bank MD&CEO filed case in Supreme Court?

Jagdishan had earlier gone to the Bombay High Court to cancel the case. But surprisingly, three judges of the High Court backed out of hearing the matter. On June 30, his lawyers requested urgent protection from arrest or other legal action. However, the High Court said there was no emergency and scheduled the hearing for July 14. Because of the delay, Jagdishan moved the case to the Supreme Court.

What is the case all About? Allegations made by the Lilavati Trust

The lilavati trust has made several allegations on MD&CEO of HDFC Bank. The trust has accused MD&CEO of HDFC Bank of bribery, misuse of position, free medica treatments, conflict of interest and misuse of CSR fund.

1. Bribery:
   The Trust claims that Jagdishan accepted ₹2.05 crore as a bribe. In return, he allegedly gave financial advice that helped a private group (Chetan Mehta Group) keep illegal control over the hospital’s management.
2. Misuse of Position:
   The complaint says he used his position as head of a top private bank to interfere in the internal matters of a charitable trust, which is wrong and unethical.
3. Free Medical Benefits:
   According to the Trust, Jagdishan and his family received free medical treatment at Lilavati Hospital — a benefit that the bank has not officially denied or acknowledged.
4. Conflict of Interest:
   The Trust says it has kept ₹48 crore in deposits and investments with HDFC Bank since 2022. This financial relationship, they claim, makes Jagdishan’s actions suspicious and biased.
5. CSR Fund Misuse:
   The complaint also claims Jagdishan offered ₹1.5 crore as CSR funds (Corporate Social Responsibility money). But they allege it was actually meant to destroy or forge evidence related to the Trust’s internal disputes.

Lilavati Trust has also filed Rs.1,000 Crore Defamation Suit Against HDFC Bank CEO Sashidhar Jagdishan. This case has become a big highlight in the banking sector and all eyes are on this case. Let’s see what happens next – What decision comes from the Supreme Court.