**HDFC Bank Faces ₹1,000 Crore Defamation Lawsuit from Lilavati Trust**
The Lilavati Kirtilal Mehta Medical Trust (LKMM Trust) has initiated a ₹1,000 crore civil defamation lawsuit against Sashidhar Jagdishan, the Managing Director and CEO of HDFC Bank. The Trust accuses Jagdishan of making a series of “malicious, false, and defamatory” statements regarding the Trust and its permanent trustee, Prashant Mehta.
In a statement, the LKMM Trust emphasized that the lawsuit is a response to what it describes as a coordinated effort to tarnish its reputation and hinder its operations as a public charitable institution. The Trust oversees the Lilavati Hospital in Mumbai and claims that Jagdishan’s actions are part of a deliberate smear campaign against it.
In addition to the civil suit, the Lilavati Trust has filed a criminal complaint with the Metropolitan Magistrate of Girgaon, Maharashtra. The magistrate has issued a notice to Jagdishan, along with HDFC Bank’s spokesperson and corporate communication head. The Trust views this legal action as a crucial step in holding the HDFC CEO accountable for the alleged smear campaign.
The Trust asserts that its actions are not retaliatory but rather a necessary response to ongoing attempts to discredit a respected charitable institution and its founding family, without any substantial evidence from HDFC Bank to support its claims. The Trust firmly denies any connection to the affairs of Splendour Gems, which Jagdishan has allegedly implicated in his statements.
Earlier this week, Jagdishan sought relief from the Bombay High Court to quash an FIR filed by the Lilavati Trust. This FIR was prompted by a magistrate court’s directive for police investigation into allegations of financial fraud. The Trust claims that of the ₹14.42 crore misappropriated by its trustees, ₹2.05 crore was received by Jagdishan, and it alleges that a ₹1.5 crore offer disguised as Corporate Social Responsibility (CSR) funds was intended to destroy evidence and obstruct justice.
As this legal battle unfolds, both parties are poised to present their cases, with significant implications for the reputation and operations of the Lilavati Trust and HDFC Bank.
**FAQ**
**What is the basis of the lawsuit filed by the Lilavati Trust against HDFC Bank’s CEO?**
The Lilavati Trust alleges that HDFC Bank’s CEO, Sashidhar Jagdishan, made false and defamatory statements that harmed the Trust’s reputation and obstructed its charitable operations.
