HDFC Bank- In a dispute arising between Lilavati Kirtilal Mehta Medical Trust, now the bank’s managing director and CEO Shashidhar Jagdishan has knocked out the doors of Bombay High Court. He has appealed to cancel the FIR lodged by the trust. Lilavati Kirtilal Mehta Medical Trust (LKMM Trust) operates Lilavati Hospital in Mumbai. In its FIR, the trust has accused Jagadishan of taking a bribe of Rs 2.05 crore to help the Chetan Mehta Group to help the Lilavati Trust allegedly maintain illegal control.
The trust has claimed in its FIR that Jagadishan took Rs 2.05 crore from a former member of the trust to allegedly harass the father of an existing trustee. The transaction is reportedly recorded in a hand-written diary received by the current trust members. The Mumbai Magistrate Court directed the Bandra police to register an FIR against Jagdishan and 7 others in the May 30. The police were also instructed to collect further evidence.
Appeal to RBI to suspend Jagdishan immediately
The Trust has appealed to the Reserve Bank of India (RBI) and the Enforcement Directorate (ED) to suspend Jagdishan with immediate effect. He has also urged him to prosecute. Apart from the CEO of HDFC Bank, the trust also accused 8 people, including former bank officials, that senior officials of the bank allowed the bank to be manipulated by Rs 25 crore through suspected property transactions. Despite the red alert, they failed to stop the transfer and allowed the account to be closed without proper investigation.
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What is HDFC Bank to say
A spokesperson for HDFC Bank has denied the allegations as baseless. It is said that neither the bank nor its CEOs are not involved in any illegal, immoral or unfair conduct. The bank said in its statement, “HDFC Bank’s MD and CEO Shashidhar Jagdishan are targeting dishonest people. They are misusing the legal process to prevent the bank from recovering the outstanding debt for a long time.” The bank says that HDFC Bank has a lot of outstanding outstanding on trustee Prashant Mehta and his family members. Mehta never repaid this dues. The bank has taken action and enforcement action in the last two decades and at all levels Prashant Mehta and other members of his family have taken several disturbing legal action. After continuous failure at all levels including the Supreme Court, he has now adopted such a tactic against the MD and CEO of the bank.
