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HDFC Bank CEO Sashidhar Jagdishan Challenges FIR Alleging Bribery and Illegal Control

Strategic Insights

— 1 min read

HDFC Bank managing director and CEO Sashidhar Jagdishan has approached the Bombay High Court seeking to quash an FIR filed by Prashant Mehta, a trustee of Lilavati Kirtilal Mehta Medical Trust, alleging that Jagdishan accepted a Rs2.05 crore bribe to help the Chetan Mehta Group retain control of the trust. The FIR, lodged on June 6, alleged that Jagdishan provided financial and strategic advice that allowed the Mehta family to manipulate trust affairs. In response, the Trust claimed the purported payment was part of a wider plan to loot the Trust and accused Jagdishan of offering Rs1.5 crore in CSR funds to destroy and forge evidence in an internal dispute.

Key Takeaways:

  • HDFC Bank CEO Sashidhar Jagdishan has approached the Bombay High Court to quash an FIR filed by Prashant Mehta, alleging bribery and illegal control of the Lilavati Kirtilal Mehta Medical Trust.
  • The FIR, lodged on June 6, alleged that Jagdishan provided financial and strategic advice that allowed the Mehta family to manipulate trust affairs and accused him of accepting a Rs2.05 crore bribe.
  • The Trust claimed the purported payment was part of a wider plan to loot the Trust and accused Jagdishan of offering Rs1.5 crore in CSR funds to destroy and forge evidence in an internal dispute.
  • HDFC Bank labelled the complaint "malicious and baseless" and asserted it was a tactic to derail legitimate efforts to recover longstanding dues from the Mehta group.
  • Jagdishan's petition not only seeks to set aside the FIR but also asks the court to bar the police from taking any coercive steps against him while the petition is pending.

Statistics:

  • Rs2.05 crore: Alleged bribe accepted by HDFC Bank CEO Sashidhar Jagdishan.
  • Rs1.5 crore: Alleged amount of CSR funds offered by Jagdishan to destroy and forge evidence in an internal dispute.
  • Rs48 crore: Deposits and investments kept by Lilavati Kirtilal Mehta Medical Trust with HDFC Bank since 2022, suggesting a conflict of interest.
  • Rs65.22 crore: Outstanding loan amount due from Splendour Gems Ltd., a Mehta-controlled company.
  • June 6: Date on which the FIR was lodged by Prashant Mehta.
  • June 9: Date on which the Trust issued a statement claiming the purported payment was part of a wider plan to loot the Trust.

Sources:

  • Indian National Press (Bombay) Pvt. Ltd. (2025) - Copyright distributed by Contify.com.

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