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HDFC Bank CEO Sashidhar Jagdishan Embroiled in Defamation Suit with Lilavati Trust

Strategic Insights

— 1 min read

The Lilavati Kirtilal Mehta Medical Trust (LKMM Trust) has filed a defamation suit against HDFC Bank and its Managing Director and CEO Sashidhar Jagdishan, seeking Rs 1,000 crore in damages. The Trust claims that the bank was running a "deliberate and sustained smear campaign" against it. Jagdishan has also been accused of making malicious and derogatory statements against the Trust and its permanent trustee. The Trust has filed a criminal defamation complaint before the magistrate court in Girgaon, and the magistrate court has issued a notice to the bank, Jagdishan, and others. Jagdishan has challenged the FIR filed against him in the Bombay High Court, alleging that he was accused of accepting a bribe of Rs 2.05 crore to help a group of individuals retain illegal control over the Trust.

Key Takeaways:

  • The Lilavati Kirtilal Mehta Medical Trust (LKMM Trust) has filed a defamation suit against HDFC Bank and its Managing Director and CEO Sashidhar Jagdishan for Rs 1,000 crore in damages.
  • The Trust claims that the bank was running a "deliberate and sustained smear campaign" against it, and has also filed a criminal defamation complaint before the magistrate court in Girgaon.
  • The magistrate court has issued a notice to the bank, Jagdishan, and others, and has posted further hearing to July 18.
  • Jagdishan has challenged the FIR filed against him in the Bombay High Court, alleging that he was accused of accepting a bribe of Rs 2.05 crore to help a group of individuals retain illegal control over the Trust.
  • The FIR was registered on May 31, and the Bandra police has been directed to probe the matter as per section 175 (3) of the Bharatiya Nagrik Suraksha Sanhita (BNSS).
  • The Trust's authorized representative and trustee Prashant Mehta has filed the suit in the Bombay High Court against Jagdishan, HDFC Bank, and others.

Statistics:

  • Rs 1,000 crore: the amount of damages sought by the Lilavati Trust against HDFC Bank and Jagdishan.
  • Rs 2.05 crore: the alleged bribe taken by Jagdishan to help a group of individuals retain illegal control over the Trust.
  • May 29: the date on which the magistrate court ordered the Bandra police to register offences against Jagdishan.
  • May 31: the date on which the Bandra police registered the FIR against Jagdishan.
  • July 18: the date on which the magistrate court has posted further hearing in the case.

Sources:

  • IE Online Media Services Pvt. Ltd., distributed by Contify.com (no date mentioned)

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