Sashidhar Jagdishan Denied SC Protection In FIR Case

Sashidhar Jagdishan Named in ₹14 Crore FIR by Lilavati Trust

In a major development that has sent ripples through India’s banking sector, Sashidhar Jagdishan, the MD and CEO of HDFC Bank, has been named in an FIR filed by the Lilavati Kirtilal Mehta Medical Trust. The trust manages Mumbai’s prestigious Lilavati Hospital.

According to the complaint, a seized cash diary reveals ₹14.42 crore misappropriated, with ₹2.05 crore allegedly linked directly to Jagdishan. The FIR was registered on the directions of a magistrate’s court and also implicated former HDFC Bank employees.

No Relief from Apex Court for Jagdishan

Facing arrest, Sashidhar Jagdishan approached the Hon’ble Supreme Court of India for interim protection. However, the court declined to intervene, and further directing him to raise his concerns before the Hon’ble High Court at Delhi on the next listed date – July 14.

Despite senior counsel Mukul Rohatgi arguing that the delays in hearings were unfair, the bench firmly held back from offering any relief:

“Go make all the submissions there. We are not entertaining this now,” the bench observed.

HDFC Bank Defends Jagdishan, Calls Allegations ‘Malicious’

HDFC Bank has come out in full defence of Sashidhar, calling the FIR a malicious legal move. According to the bank, the complaint is part of a pattern of harassment by Prashant Mehta. He is a trustee of the Lilavati Trust, who allegedly owes a large sum to the bank.

In its official statement, the bank said, “These are preposterous and outrageous allegations designed to derail recovery proceedings against long-time defaulters.”. The bank has signaled that it may take strong legal action to defend both its leadership and its long-standing reputation in the financial sector.

With the spotlight now firmly on Sashidhar Jagdishan, he finds himself navigating a growing legal and public storm – his next move will be closely watched by regulators, investors, and the wider public.

By:

Sneha Awasthi