HDFC Bank CEO moves Bombay HC to quash FIR based on Lilavati Trust’s complaint over ‘Rs 2 crore bribe’
HDFC Bank CEO Sashidhar Jagdishan has approached the Bombay High Court seeking the quashing of an FIR registered against him based on a bribery complaint filed by the trustees of Mumbai's Lilavati Hospital and Research Centre. The case has raised significant questions about internal trust disputes and alleged misuse of corporate influence.
The FIR, lodged earlier this year, alleges that a ₹2 crore bribe was paid to facilitate a trust-related dispute resolution in favor of one faction within Lilavati Trust. According to the complaint, high-level banking officials, including Jagdishan, were implicated in enabling this transaction.
Jagdishan has denied any wrongdoing and called the allegations baseless and motivated. His petition to the Bombay HC argues that the complaint is a result of internal rivalry among trustees and has no direct nexus to his role at HDFC Bank or any personal actions.
The petition also claims that no evidence has been presented linking him to any financial transaction or decision-making related to the alleged bribe. It calls the FIR “malicious prosecution” meant to tarnish his reputation.
Legal experts suggest that the case may fall under the ambit of malicious use of legal tools in corporate disputes. The Bombay High Court is expected to examine whether the FIR meets the threshold for criminal intent or is purely based on internal organizational politics.
The FIR was reportedly filed after a whistleblower within the trust raised concerns over the irregular financial activities and possible external influence. However, subsequent internal audits and investigations have reportedly yielded no clear proof of direct involvement from the HDFC Bank executive.
HDFC Bank has issued a limited statement affirming faith in the legal process and supporting its CEO. The bank emphasized that it has a strong compliance culture and that none of its executives would act outside regulatory frameworks.
As the case develops, it could set a precedent for how banking executives are drawn into trust or nonprofit disputes where financial institutions play a role. It also raises critical questions about corporate reputations and responsibilities in third-party transactions.
The Bombay High Court has yet to decide on the admission of the quashing petition. A hearing is expected in the coming weeks, which could influence not just the future of this case but similar actions involving financial sector executives.
FAQ Section:
Q1. What is the FIR against HDFC Bank CEO about?
The FIR alleges that HDFC Bank CEO Sashidhar Jagdishan was linked to a ₹2 crore bribe to influence a dispute within Lilavati Trust, though no direct evidence has surfaced yet.
Q2. Why has the HDFC Bank CEO moved Bombay High Court?
He has petitioned the court to quash the FIR, calling it false, motivated by internal trust rivalries, and unsupported by evidence.
Q3. What is Lilavati Trust’s role in this case?
Lilavati Trust, which runs Lilavati Hospital, filed the complaint alleging external interference in its internal dispute resolution, reportedly involving financial inducement.
Q4. Has HDFC Bank responded to the allegations?
Yes, the bank has supported its CEO and reiterated its commitment to legal processes and regulatory integrity.
Q5. What’s next in this legal matter?
The Bombay High Court will soon hear the quashing petition. If admitted, the court will assess the merit of the FIR and determine whether it should be dismissed.
Publish on june 19,2025 by :selvi
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