**Title:** HDFC Bank CEO Accused in Lilavati Trust Dispute
**Meta Description:** The CEO of HDFC Bank faces allegations of harassment and embezzlement linked to the Lilavati Medical Trust’s ongoing trustee conflict.
**URL Slug:** hdfc-bank-ceo-accused-lilavati-trust-dispute
**Headline:** HDFC Bank CEO Faces Serious Allegations Amid Lilavati Medical Trust Dispute
The conflict between the current trustees of the Lilavati Kirtilal Mehta Medical Trust (LKMMT), which oversees the well-known Lilavati Hospital in Bandra West, Mumbai, and former trustees has intensified. The CEO of HDFC Bank has been named as a defendant in a case involving allegations of harassment against founder trustee Kishor Mehta. Prashant Mehta, the current permanent trustee, has lodged a First Information Report (FIR) against HDFC Bank’s CEO, Sashidharan Jagdishan, along with seven former trustees, including Chetan Mehta, for criminal breach of trust and cheating related to a significant embezzlement case amounting to Rs 1,250 crore.
The FIR was filed following a directive from a Bandra magistrate court, which Prashant Mehta approached to address the alleged misconduct of Sashidharan and the former trustees. In March, Prashant accused Chetan Mehta and others of misappropriating trust funds, engaging in money laundering, and committing various financial irregularities. This led to the registration of FIRs and a request for an investigation by the Enforcement Directorate.
During a press conference on June 7, Prashant Mehta claimed that Sashidharan and the former trustees had subjected Kishor Mehta to harassment, issuing over 100 court summonses in retaliation for his whistleblowing on the trust’s activities. Tragically, Kishor Mehta passed away amid ongoing legal and health challenges. Prashant Mehta further alleged that a bribe of Rs 1.5 crore, disguised as a corporate social responsibility (CSR) donation, was paid to influence senior hospital doctors to conceal or destroy vital records.
“This is not merely a private dispute or a commercial misunderstanding. It represents a profound criminal betrayal of fiduciary duties, charity law, public funds, and the rule of law. Mr. Sashidhar Jagdishan has misused his institutional authority not only to suppress the truth but also to obstruct justice. We demand his immediate removal to restore trust in India’s banking and legal systems,” Prashant Mehta stated.
He emphasized that the allegations against Jagdishan are supported by substantial documentary evidence, including Rs 2.05 crore in unaccounted cash payments recorded in a seized cash diary, the illegal deposit of Rs 25 crore of trust funds into HDFC Bank without proper authorization, and preferential medical treatment granted to Jagdishan and his family at Lilavati Hospital in exchange for their silence and complicity.
**FAQ Section:**
**Q: What are the main allegations against the HDFC Bank CEO?**
A: The CEO is accused of harassment, criminal breach of trust, and involvement in a Rs 1,250 crore embezzlement case linked to the Lilavati Medical Trust.
