HDFC Bank CEO Moves Bombay HC To Quash FIR In Lilavati Hospital Bribery Case
According to the FIR, Jagdishan allegedly accepted a bribe of ₹2.05 crore to help a group, including Chetan Mehta and other erstwhile trustees, retain illegal control over the Trust.
Mumbai : HDFC Bank Managing Director and CEO Sashidhar Jagdishan has filed a petition before the Bombay High Court seeking to quash a criminal First Information Report (FIR) lodged by the Lilavati Kirtilal Mehta Medical Trust (LKMMT), which oversees the prominent Lilavati Hospital in Mumbai. The FIR accuses him of bribery, financial misconduct, and ethical violations.
According to the FIR, Jagdishan allegedly accepted a bribe of ₹2.05 crore to help a group, including Chetan Mehta and other erstwhile trustees, retain illegal control over the Trust. LKMMT also alleged that the HDFC Bank chief offered ₹1.5 crore, under the guise of Corporate Social Responsibility (CSR) funds, to bribe hospital doctors and facilitate the destruction of evidence related to internal disputes. The Trust further claimed that Jagdishan and his family received free medical treatment from Lilavati Hospital and that he facilitated the placement of ₹48 crore in deposits and bonds from LKMMT with HDFC Bank without the approval of the founder trustees.
In response, HDFC Bank issued a detailed rebuttal, labelling the allegations as “malicious, false and defamatory,” and part of a calculated campaign by the Mehta family to derail loan recovery proceedings against Splendour Gems Ltd, a company owned by the family, which has allegedly defaulted on loans worth ₹65.22 crore.
When the matter came up for hearing before a division bench of Justice A.S. Gadkari and Justice Rajesh Patil, both judges recused themselves, prompting reassignment to another bench. However, Justice Sarang V. Kotwal also recused himself, citing his previous legal representation of one of the trustees. The petitioner will now have to approach the High Court administration for assignment of a new bench.
Earlier, in March this year, LKMMT had lodged a formal complaint with the Directorate of Enforcement (ED) against its former trustees, accusing them of misappropriating over ₹1,200 crore. The alleged financial misconduct involves fraudulent investments, illicit offshore transactions, and kickbacks. These revelations emerged from a detailed forensic audit conducted by Chetan Dalal Investigation and Management Services and ADB & Associates, which uncovered widespread financial irregularities.
