Hdfc Bank On Lilavati Trust Allegations Against Ceo: 'malicious Bid To Derail Loan Recovery'

HDFC Bank responded to allegations from Lilavati Kirtilal Mehta Medical Trust, dismissing demands for nan suspension and prosecution of its CEO Sashidhar Jagdishan arsenic a “malicious” effort to derail a two-decade indebtedness betterment battle.

In a statement, nan slope defended Jagdishan, calling nan allegations “outrageous and preposterous.” 

A spokesperson said nan claims were nan latest maneuver by Prashant Mehta, a trustee of Lilavati Trust, and his family to dodge repayment of “substantial” dues owed to nan bank.

“Mr. Sashidhar Jagdishan is being targeted by unscrupulous persons who are abusing nan ineligible process,” nan slope said. It accused Mehta and his relatives of many times launching “vexatious ineligible actions” aft failing to triumph alleviation from immoderate judicial body, including nan Supreme Court.

HDFC Bank described nan move arsenic portion of a “mala fide” run to intimidate its activity and debar financial accountability.

HDFC Bank said it has secured “comprehensive ineligible advice” and remains committed to defending its CEO’s reputation. “The Bank takes immense pridefulness successful nan integrity and activity of its MD & CEO,” nan connection added.

Jagdishan, who has led nan slope since 2020, was not individually quoted, but nan connection made clear that nan institution sees nan onslaught arsenic portion of a broader, long-running effort to undermine lawful betterment actions.

Full statement:

HDFC Bank’s MD and CEO Mr. Sashidhar Jagdishan is being targeted by unscrupulous persons who are abusing nan ineligible process to thwart nan betterment of nan agelong outstanding indebtedness owed to nan Bank from recalcitrant defaulters.
 
The allegations made by Lilavati Trust, its Trustees and Officials against nan Bank’s MD and CEO are baseless and malicious. The outrageous and preposterous allegations are powerfully and categorically denied.
 
The Trustee, Prashant Mehta and his family members beryllium important amounts to HDFC Bank which were ne'er repaid. Recovery and enforcement actions person been taken by nan Bank complete 2 decades and astatine each shape Prashant Mehta and his different family members person launched galore vexatious ineligible actions. 

Having consistently grounded astatine each levels including nan Hon’ble Supreme Court, they person now resorted to nan caller mala fide individual attacks connected nan Bank’s MD & CEO pinch nan sole nonsubjective of intimidating and bullying nan Bank and its MD & CEO from carrying retired nan instruction of recovering each outstanding loans successful each imaginable mode permissible nether law.
 
The Bank has obtained broad ineligible proposal and practice successful this respect and is committed to pursuing ineligible remedies and options to take sides its MD & CEO’s reputation. The Bank takes immense pridefulness successful nan integrity and activity of its MD & CEO.
 
The Bank is assured that our judicial process will recognise nan fraudulent volition and devious objectives of nan Trustee and officials of Lilavati Trust of tarnishing nan image of nan Bank and its MD and CEO.

Published on: Jun 8, 2025 11:13 AM IST