HDFC Bank Faces Allegations Amidst Bribery Scandal

Lilavati Kirtilal Mehta Medical Trust accused HDFC Bank's CEO, Sashidhar Jagdishan, of accepting a bribe to aid the Chetan Mehta group. HDFC Bank counterclaims the Trust and its associates aim to avoid loan repayments. Legal proceedings for defamation and financial recovery are underway from both sides.

Devdiscourse News Desk | Mumbai | Updated: 09-06-2025 22:49 IST | Created: 09-06-2025 22:49 IST

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In a fresh controversy, Lilavati Kirtilal Mehta Medical Trust accused HDFC Bank's MD and CEO, Sashidhar Jagdishan, of receiving a bribe to help the Chetan Mehta group control the Trust illegally. The Trust clarified its non-relatedness to the borrowing entity, Splendour Gems Ltd.

The Trust oversees Lilavati Hospital in Mumbai, initiated civil and criminal defamation proceedings citing a Rs 1,000 crore loss due to Jagdishan's alleged actions. HDFC Bank refuted these claims, stating they're combating attempts by defaulters to evade repayment.

The bank revealed Splendour Gems Ltd, belonging to the Mehta family, defaulted on loans since 1995 with dues exceeding Rs 65.22 crore. HDFC Bank remains resolute in recovering these dues, defending its reputation against deceptive maneuvers by the Mehta family.

(With inputs from agencies.)