HDFC Bank has issued a strong statement in support of its Managing Director and CEO, Sashidhar Jagdishan, after being accused by the Lilavati Kirtilal Mehta Medical Trust. The bank called the allegations completely false and said it will take all necessary legal steps to protect its CEO’s reputation.
According to the trust, a former member gave Rs 2.05 crore to Mr. Jagdishan. The trust claims the money was used to trouble the father of a current trustee. They say this transaction was recorded in a handwritten diary now in possession of current trustees. Based on this, they demanded suspension and legal action against the CEO.
In response, HDFC Bank denied all allegations and said they were made with bad intentions. The bank explained that this matter is linked to an old loan taken by Prashant Mehta (a trustee of the trust) and his family, which has not yet been repaid. The bank said that for more than 20 years, it has been trying to recover this loan through legal channels.
The Mehta family, according to the bank, has filed several false and disturbing legal complaints to delay repayment. The bank also mentioned that the family has lost court cases at every level, including the Supreme Court. Now, it believes they are targeting the CEO personally to stop the recovery process.
HDFC Bank confirmed it has taken full legal advice and is ready to defend its CEO through all means necessary. The bank expressed full confidence in the judicial system, stating that the courts will see through the false claims and identify the real motives behind them.
This is not the first time there has been conflict between HDFC Bank and the Lilavati Trust. The bank said the trust and its members have avoided repaying loans for years, which forced the bank to take legal steps. It believes the new accusations are another attempt to build pressure and distract from the financial dispute.
In conclusion, HDFC Bank has firmly rejected all claims against its CEO, stating that they are part of a long-standing effort by the trust to avoid loan repayment. The bank stands by its top leadership and is prepared to defend their integrity through the legal system.
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