Mumbai Police to Summon HDFC Bank CEO Sashidhar Jagdishan in Lilavati Hospital Trust Fraud Probe

Mumbai Police’s EOW is set to summon HDFC Bank CEO Sashidhar Jagdishan in the Lilavati Trust’s alleged ₹1,300-crore fraud case. Both Jagdishan and the bank have firmly rejected all accusations.Sashidhar Jagdishan, Managing Director and CEO of HDFC Bank, is expected to be summoned by the Mumbai Police in connection with the Lilavati Hospital Trust case, according to a CNBC-TV18 report. The channel reports that the Economic Offences Wing (EOW) plans to call in all accused individuals for questioning. The EOW is probing allegations of financial fraud and misuse of funds at the Lilavati Kirtilal Mehta Medical Trust. In July, Jagdishan had approached the Bombay High Court seeking interim protection from police summons and challenging the FIR filed against him for alleged cheating and fraud. In July this year, the trustees of the Lilavati Kirtilal Mehta Medical Trust— which runs Mumbai’s renowned Lilavati Hospital—alleged that former trustees had diverted and misused nearly ₹1,300 crore belonging to the trust. The FIR lodged by the current trustees of the Lilavati Kirtilal Mehta Medical Trust alleges that Sashidhar Jagdishan received ₹2.05 crore in cash from the former trustees. It also claims that he aided in placing a ₹25-crore deposit of the Trust’s funds without obtaining the necessary approval or oversight from the trustees. 𝐑𝐞𝐬𝐩𝐨𝐧𝐬𝐞 𝐟𝐫𝐨𝐦 𝐉𝐚𝐠𝐝𝐢𝐬𝐡𝐚𝐧 𝐚𝐧𝐝 𝐛𝐚𝐧𝐤 In a hearing at the Bombay High Court in July, Sashidhar Jagdishan described the FIR against him as “vexatious, frivolous, and absurd.” HDFC Bank, in an official statement, also denied all allegations made by the Lilavati Medical Trust. “The allegations and insinuations made by the trustees are completely baseless. Neither the Bank nor its CEO have engaged in any illegal, unethical, or improper activity,” the statement read.