New Delhi
HDFC Bank CEO and Managing Director Sashidhar Jagdishan has approached the Supreme Court to cancel an FIR filed against him by the Lilavati Kirtilal Mehta Medical Trust. The Trust accused him of taking a bribe of Rs 2.05 crore to influence its governance matters.
Senior Advocate Mukul Rohatgi, representing Jagdishan, argued that the case was filed to pressure the bank. The Supreme Court, led by Justice MM Sundresh, has listed the matter for hearing on July 4 (today).
Rohatgi called the FIR “frivolous” and told the court that at least five Bombay High Court judges had stepped away from hearing Jagdishan’s petition to cancel the FIR. Earlier, on June 30, the Bombay High Court heard the plea but did not find any urgency and set the next date for July 14, pushing Jagdishan to approach the Supreme Court.
The FIR was filed last month at Bandra police station in Mumbai under serious charges, including criminal breach of trust and cheating. The Trust claims that Jagdishan accepted the bribe in exchange for financial advice that helped the Chetan Mehta Group control the Trust improperly. It also accused him of misusing his position as HDFC Bank’s head to interfere in a charitable organization’s internal affairs.
Jagdishan strongly denied all charges, calling them false and meant to damage his and the bank’s reputation. He explained that HDFC and other banks gave loans to Splendor Gems Limited in 1995. When the company failed to repay, recovery started in 2002 against the guarantors. After one guarantor died in 2024, proceedings continued against his sons.