Did Lilavati Trust Really File a Rs 1,000 Crore Defamation Case Against HDFC Bank CEO Jagdishan?
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Synopsis
The Lilavati Trust has taken legal action against HDFC Bank's CEO, Sashidhar Jagdishan, over alleged defamatory statements. They claim his remarks are aimed at damaging the Trust's reputation and operations. The case, worth Rs 1,000 crore, also includes a criminal complaint. This situation showcases the ongoing issues surrounding financial management and accountability in charitable organizations.
Key Takeaways
- Lilavati Trust has filed a Rs 1,000 crore defamation case.
- Accusations against Sashidhar Jagdishan include false statements.
- The Trust claims a coordinated smear campaign exists.
- Legal actions include both civil and criminal complaints.
- The controversy involves alleged financial mismanagement.
New Delhi, June 20 (NationPress) – In a significant turn of events, the Lilavati Kirtilal Mehta Medical Trust, which operates Mumbai's Lilavati Hospital, has initiated a defamation lawsuit amounting to Rs 1,000 crore against Sashidhar Jagdishan, the Managing Director and CEO of HDFC Bank.
The Trust accuses Jagdishan of disseminating false and harmful statements about the organization and its permanent trustee, Prashant Mehta.
In their statement, the Trust emphasized that the lawsuit was prompted by a series of malicious, false, and defamatory remarks made by Jagdishan, which they assert are part of a broader scheme to damage the reputation and operations of the charitable organization.
The Trust claims that Jagdishan orchestrated a coordinated effort to besmirch their reputation and disrupt their activities.
Additionally, they clarified that the legal action is not driven by vengeance, but rather a reaction to what they describe as an unsubstantiated smear campaign against a respected institution and its founding family.
In conjunction with the civil defamation lawsuit, the Trust has also lodged a criminal complaint with the Metropolitan Magistrate of Girgaon, Maharashtra.
The court has since issued notices to Jagdishan, along with representatives from HDFC Bank’s corporate communications.
The Trust firmly denied prior assertions made by HDFC Bank, stating that neither they nor Mehta have any ties to Splendour Gems, a company implicated in alleged financial misconduct.
They characterized these allegations as fraudulent and lacking any supporting evidence.
The controversy emerged when HDFC Bank raised inquiries regarding alleged financial mismanagement connected to the Trust.
In response, the Trust accused that Rs 14.42 crore had been misappropriated, with Rs 2.05 crore reportedly received by Jagdishan himself.
Moreover, the Trust accused the bank of presenting Rs 1.5 crore as part of their Corporate Social Responsibility (CSR) initiatives to hospital staff, claiming this was an attempt to destroy evidence and interfere with the investigation.
Earlier in the week, Jagdishan approached the Bombay High Court seeking to quash a First Information Report (FIR) filed against him by the Trust.
The FIR was founded on a magistrate's order directing police to investigate the alleged financial fraud.
Point of View
It is crucial to approach this matter with impartiality. The allegations made by the Lilavati Trust against HDFC Bank's CEO reveal a complex interplay of reputational damage and financial oversight. It is essential to monitor how this legal situation unfolds, as it could set significant precedents for accountability and transparency in charitable organizations and corporate communications.
NationPress
20/06/2025
Frequently Asked Questions
What is the reason behind the defamation case?
The Lilavati Trust alleges that HDFC Bank's CEO, Sashidhar Jagdishan, made false and defamatory statements aimed at damaging the Trust's reputation and operations.
How much is the defamation case worth?
The defamation lawsuit filed by the Lilavati Trust amounts to Rs 1,000 crore.
What other legal actions have been taken by the Trust?
In addition to the civil defamation suit, the Trust has also filed a criminal complaint with the Metropolitan Magistrate of Girgaon in Maharashtra.
What are the Trust's accusations against HDFC Bank?
The Trust accuses HDFC Bank of conducting a smear campaign and misappropriating funds, including alleging that Rs 2.05 crore was received by Jagdishan himself.
What is the current status of the case?
The court has issued notices to Jagdishan and HDFC Bank's representatives regarding the defamation case and the criminal complaint is under investigation.
