Sashidhar Jagdishan, the Managing Director and Chief Executive Officer of HDFC Bank, is facing serious financial fraud allegations after a First Information Report (FIR) was filed against him and seven others. The controversy stems from a dispute involving the Lilavati Kirtilal Mehta Medical (LKKM) Trust, which manages one of Mumbai’s top private hospitals.
⚖️ The Allegations: Diary Entries, Harassment Claims
The FIR, registered following a Mumbai Magistrate Court directive dated May 30, accuses Sashidhar Jagdishan of accepting Rs 2.05 crore from a former trust member to allegedly harass the father of a current trustee. The complaint reportedly includes handwritten diary entries as key evidence.
The FIR also names multiple individuals alleged to be involved in the transaction and coercive pressure tactics.
🛡️ HDFC Bank Responds: “Baseless and Malicious”
In a sharp rebuttal, HDFC Bank issued an official statement denying all allegations and defending Sashidhar Jagdishan’s integrity:
“The Bank has obtained comprehensive legal advice and representation in this regard and is committed to pursuing legal remedies and options to defend its MD & CEO’s reputation. The Bank takes immense pride in the integrity and leadership of its MD & CEO.”
Media Statement from HDFC Bank
The bank also accused Prashant Mehta, a trustee of the Lilavati Hospital, of filing the FIR to obstruct the recovery of significant unpaid loans.
👤 Who is Sashidhar Jagdishan?
Sashidhar Jagdishan took over as CEO in 2020, succeeding long-time leader Aditya Puri. A chartered accountant with a background in physics and economics, he has been with the bank since 1996, serving in key financial roles, including CFO.
Known for his steady leadership during the HDFC-HDFC Bank merger, Jagdishan is widely credited with maintaining operational stability and expanding the bank’s digital footprint.
🔍 Legal Battle Ahead
With both parties lawyering up and public opinion split, the case is expected to enter intense legal scrutiny. As India’s largest private-sector bank by market capitalisation, any reputational damage could have broader financial implications.
Sashidhar Jagdishan FIR, HDFC Bank CEO fraud, Lilavati Trust dispute, HDFC Bank controversy, financial fraud India 2025
Discover more from News 24 Media
Subscribe to get the latest posts sent to your email.
