Supreme Court Declines Interim Relief To HDFC Bank CEO In FIR By Lilavati Trust: “Approach High Court First”
Supreme Courtroom Right now (July 4) refused to quash FIR in opposition to HDFC Financial institution CEO Sashidhar Jagdishan, filed by Lilavati Kirtilal Mehta Medical Belief. The Courtroom tells him to attend for Excessive Courtroom listening to on July 14, 2025.
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NEW DELHI: The Supreme Courtroom of India heard a petition filed by Sashidhar Jagdishan, the Managing Director and CEO of HDFC Financial institution, who requested the court docket to cancel an FIR filed in opposition to him by the Lilavati Kirtilal Mehta Medical Belief. He claimed that the case is fake and filed just for private motives.
A bench of Justice PS Narasimha and Justice R Mahadevan listened to the matter.
The FIR accused Jagdishan of misusing his place within the financial institution to intervene within the inner affairs of the medical belief.
In the beginning of the listening to, Senior Advocate Dr Abhishek Manu Singhvi, representing the respondent (the belief), raised some extent:
“I’ve a preliminary objection there’s one thing on report from yesterday that must be addressed.”
Senior Advocate Mukul Rohatgi, showing for Jagdishan, defined that they weren’t given a good likelihood to talk within the Excessive Courtroom:
“We haven’t been heard within the Excessive Courtroom for the previous 3 weeks. I’m the Managing Director and haven’t any involvement within the inner dispute between the trustees. I’m going through hardship and in search of interim aid.”
Jagdishan additionally requested to talk immediately:
“Can I make a submission”
The court docket responded firmly:
“I believe it is best to make all of the submissions earlier than the HC”
The petitioner then said that the grievance was faux and personally motivated:
“It is a frivolous case lodged in opposition to the MD of the financial institution for private causes. It’s listed on the 14th however I don’t even know if it might be taken up.”
The bench gave a transparent route:
“Then you definately come to us after that. We perceive that the proceedings started in June 2025 and acknowledge that a number of benches have recused since then. Nevertheless, now that the matter is lastly listed for listening to, we see no motive to entertain this petition.”
Rohatgi additional argued that the financial institution’s identify was being misused in a private matter between trustees:
“The financial institution has been dragged into a personal dispute. The intention appears to be to summon the MD to the police station. No coercive steps ought to be taken in opposition to him.”
Nevertheless, Justice Narasimha declined to get into the matter at this stage:
“We received’t go into the deserves now. If the matter isn’t heard on the 14th, you could return to us.”
Ultimate Order of the Supreme Courtroom:
“We word that the case is listed for listening to on the required date. We hope and anticipate that the Excessive Courtroom will take it up as scheduled.”
With this, the listening to was closed for now. The court docket made it clear that Jagdishan should look ahead to the Excessive Courtroom listening to on July 14, 2025, and may method the Supreme Courtroom once more if crucial.
CASE TITLE:
SASHIDHAR JAGDISHAN vs STATE OF MAHARASHTRA AND ORS.
SLP(Crl) No. 9602/2025
Dwell Protection-
YESTERDAY IN TOP COURT
HDFC Financial institution’s Chief Govt Officer and Managing Director, Sashidhar Jagdishan, Yesterday (July 3) filed a case within the Supreme Courtroom of India. He desires to cancel a prison case (FIR) filed in opposition to him by the Lilavati Kirtilal Mehta Medical Belief, which runs Lilavati Hospital in Mumbai.
This matter was talked about right now in entrance of a Supreme Courtroom Bench of Justice MM Sundresh and Justice Vinod Chandran.
Senior Advocate Mukul Rohatgi, who’s talking for the HDFC CEO, advised the Courtroom that the case filed by the hospital belief isn’t actual and is barely getting used to create stress.
“That is by HDFC Financial institution and the managing director. Frivolous FIR was filed in opposition to the managing director by the trustees of Lilavati Hospital. It is because now we have to get better cash from them…Such arm-twisting. Three Benches of Bombay Excessive Courtroom couldn’t hear it,”
-Rohatgi mentioned within the Supreme Courtroom.
The highest court docket agreed to look into the matter and can take it up for listening to tomorrow.
“Orders have been handed to record it tomorrow,”
-said Justice MM Sundresh.
The FIR was filed final month at Bandra Police Station in Mumbai. It consists of severe accusations below the Indian Penal Code (IPC) Sections 406 (prison breach of belief), 409 (prison breach of belief by public servant), and 420 (dishonest).
As per the grievance by the Lilavati Belief, they declare that Jagdishan accepted a bribe of Rs 2.05 crore to offer monetary recommendation. They are saying this was carried out to assist the Chetan Mehta Group preserve unlawful management over the Belief’s working. The Belief has additionally mentioned that Jagdishan misused his excessive place as a personal financial institution head to intervene of their inner charity issues.
They additional declare that he gave monetary and strategic assist to handle the Belief’s inner selections in incorrect methods, which they are saying is a misuse of energy.
The Belief has additionally mentioned that Jagdishan and his household obtained “free medical therapy” at Lilavati Hospital. They declare that HDFC Financial institution has not denied or responded to this profit.
The Belief added that they’d invested about Rs 48 crore with HDFC Financial institution since 2022, and this raises questions on a potential battle of curiosity. Furthermore, the grievance says Rs 1.5 crore was supplied by Jagdishan as CSR (company social duty) funds to assist destroy and alter paperwork associated to inner Belief disputes.
Earlier, Jagdishan had gone to the Bombay Excessive Courtroom to cancel the case. However, three completely different judges stepped away from listening to it.
On June 30, when the matter was introduced up within the Excessive Courtroom once more, Jagdishan’s lawyer requested for fast aid.
Nevertheless, the Excessive Courtroom mentioned the matter was not pressing and listed it for listening to on July 14. This delay pushed Jagdishan to go to the Supreme Courtroom for quicker aid.
EARLIER IN BOMBAY HIGH COURT
MUMBAI: The well-known Lilavati Hospital in Mumbai, run by the Lilavati Kirtilal Mehta Medical Belief, on June 24 filed a authorized petition within the Bombay Excessive Courtroom. They’re asking for the investigation in opposition to HDFC Financial institution MD and CEO, Sashidhar Jagdishan, to be handed over to the Central Bureau of Investigation (CBI).
The Belief has made a severe allegation that Sashidhar Jagdishan took Rs 2.05 crore as a bribe. They declare this cash was given to assist some ex-trustees preserve unlawful management over the hospital belief.
The matter first got here up on Friday in entrance of a division bench led by Justice Sarang Kotwal, however he determined to not hear the case and recused himself. Now, the case might be given to a brand new bench.
This complete challenge began after a grievance by Prashant Mehta, one of many trustees. He mentioned that his father, a former trustee, was harassed for a very long time over a mortgage restoration challenge associated to an organization related to the present trustees. Prashant Mehta additionally claimed that this fixed stress led to his father’s demise.
On Might 29, the Bandra Justice of the Peace Courtroom advised the police to register an FIR below severe costs like:
- Part 406 (prison breach of belief),
- Part 409 (prison breach of belief by a public servant),
- Part 420 (dishonest) of the Indian Penal Code,
based mostly on Part 175(3) of the Bharatiya Nagrik Suraksha Sanhita (BNSS).
Following this, on Might 31, an FIR was formally registered. The principle a part of the grievance is a diary that was discovered by Prashant Mehta. It reportedly has written information of Rs 2.05 crore in funds made to Sashidhar Jagdishan by Chetan Mehta and 6 different ex-trustees.
The Justice of the Peace accepted that these information weren’t supported by additional paperwork, however nonetheless mentioned that the allegations had been very severe, so an investigation was wanted.
Due to this, the Belief filed a brand new petition, saying that Sashidhar Jagdishan is a public servant below the Prevention of Corruption Act, so the CBI ought to examine the matter, not the native police.
In the meantime, Sashidhar Jagdishan has additionally gone to the Bombay Excessive Courtroom and requested to cancel the FIR. He says that:
“Photocopied diary entries, that are unverified and uncorroborated, don’t represent legitimate grounds for initiating prison proceedings.”
Aside from this, the Belief has additionally filed a Rs 1,000 crore civil defamation case and a prison defamation grievance in opposition to each Sashidhar Jagdishan and HDFC Financial institution.
The prison defamation case is now scheduled to be heard on July 18 in Girgaon Justice of the Peace Courtroom.
BACKGROUND
HDFC Financial institution Managing Director and CEO Sashidhar Jagdishan on June 18 went to the Bombay Excessive Courtroom to request the cancellation of a police case (FIR) registered in opposition to him by the Lilavati Kirtilal Mehta Medical Belief, the proprietor of Lilavati Hospital in Mumbai.
When the case got here up for listening to within the Excessive Courtroom earlier than a division bench consisting of Justice AS Gadkari and Justice Rajesh Patil, each judges determined to not hear the case.
Now, the case might be assigned to a unique bench for additional listening to.
The FIR was filed earlier this month and consists of severe allegations. It accuses Jagdishan of accepting a bribe of Rs 2.05 crore to assist the Chetan Mehta Group preserve unlawful management over the hospital Belief.
The grievance additionally says that this cash was given to him for providing monetary and strategic recommendation in a approach that helped manipulate the Belief’s inner issues. Based on the Belief, this was a misuse of his place as the top of HDFC Financial institution.
In a protracted and detailed assertion launched by the Belief on June 9, it claimed the Rs 2.05 crore cost was only one a part of an even bigger conspiracy the place Jagdishan helped the Mehta Group in “looting the Belief” and sustaining unfair affect in how it’s managed.
The Belief additionally accused Jagdishan and his household of having fun with “free medical therapy” at Lilavati Hospital. Based on the Belief, this profit was by no means formally acknowledged by HDFC Financial institution and stays unaddressed.
The Belief additional added that it has positioned deposits and investments price Rs 48 crore with HDFC Financial institution for the reason that monetary 12 months 2022. It implied that this ongoing monetary relationship reveals a battle of curiosity in Jagdishan’s actions.
Moreover, the grievance talked about that Jagdishan allegedly supplied Rs 1.5 crore below the identify of company social duty (CSR) funds. The aim of this cash, the Belief claimed, was to assist destroy and pretend proof in inner disputes contained in the Belief.
In court docket right now, Senior Advocate Amit Desai, who’s representing Jagdishan, strongly denied all of the allegations and mentioned they’re fully false and illogical.
He referred to as them “one of the crucial absurd” accusations.
“It’s one of the crucial absurd allegations that he acquired cash from trustees. The absurdity of the allegation is that he allegedly acquired Rs 2 crore to harass HDFC Financial institution debtors,”
-Desai argued.
He additional advised the court docket that this FIR was filed solely as a result of HDFC Financial institution had taken authorized steps to get better unpaid loans from Splendour Gems Restricted — an organization belonging to the Mehta household. As of Might 31, that firm has not paid again Rs 65.22 crore.
Desai said-
“These actions observe restoration proceedings initiated by the financial institution in opposition to an organization owned by the daddy of one of many trustees.”
He additionally advised the court docket that the grievance was made solely after the Belief didn’t get a beneficial response from the Union Finance Minister, the Reserve Financial institution of India, or the Anti-Corruption Bureau.
“They now use the facade of Lilavati Belief to take motion in opposition to us,”
-he added.
In the meantime, HDFC Financial institution has additionally given a public assertion, rejecting all of the allegations and calling them “malicious and baseless.”
The financial institution mentioned that the grievance is a part of a plan to cease its efforts in accumulating long-overdue funds from the corporate managed by the Mehta household.
CASE TITLE:
Lilavati Kirtilal Mehta Medical Belief Via Prashant Mehta vs Union of India and Ors.
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