Mumbai’s Lilavati Kirtilal Mehta Medical Trust accuses HDFC Bank CEO of ₹2.5 crore harassment payment. Bank denies allegations, calls it loan-recovery diversion. Dispute now heads to court for resolution
Mrudula Narale
Mumbai | June 9, 2025: The ongoing dispute between Mumbai’s Lilavati Kirtilal Mehta Medical Trust (LKMM Trust) and HDFC Bank has escalated, with the Trust levelling serious allegations against the bank’s MD and CEO Shashidhar Jagdishan.
The Trust alleges Jagdishan paid ₹2.5 crore to harass a current trustee’s father, using a former Trust member. The Trust says this is documented in a handwritten diary.
HDFC Bank Denies Allegations
HDFC Bank has strongly denied the allegations, stating that the issue stems from a long-standing outstanding loan linked to the family of trustee Prashant Mehta.
In an official statement, the bank described the accusations as a diversionary tactic by the Trust to shift focus away from the ongoing loan recovery process.
Legal Battle Ongoing
The dispute is now being fought in court. Both sides are preparing their legal arguments as the controversy continues to unfold.
This latest twist adds another layer of complexity to what has already become a bitter legal and financial battle between one of Mumbai’s leading charitable trusts and one of India’s largest private banks.
Mumbai’s Lilavati Kirtilal Mehta Medical Trust accuses HDFC Bank CEO of ₹2.5 crore harassment payment. Bank denies allegations, calls it loan-recovery diversion. Dispute now heads to court for resolution.
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