Last Updated:June 09, 2025, 09:39 IST
HDFC Bank shares are in focus after its CEO was named in a police complaint filed by the Mehta family through Lilavati Medical Trust
HDFC Bank Share Price
HDFC Bank Share Price: HDFC Bank shares are likely to be in focus on Monday after its Managing Director and CEO, Sashidhar Jagdishan, was named in a police complaint filed by the Mehta family through the Lilavati Kirtilal Mehta Medical Trust (LKMM Trust), which manages Mumbai’s Lilavati Hospital.
According to an NDTV Profit report, the FIR was filed after a court order on May 30, 2025, which directed police to investigate financial fraud charges. The Mehta family alleges that Jagdishan received Rs 2.05 crore from a former LKMM trustee to harass the father of a current trustee. They claim this payment is documented in a handwritten diary, submitted as evidence. Further, they alleged in court that other key evidence was destroyed by former trustees. The court found grounds to file the FIR and directed authorities to investigate.
HDFC Bank, in an official statement on Sunday, strongly denied the allegations, calling them “malicious,” “baseless,” and a “gross misuse of the legal process.”
“These allegations are completely false, outrageous, and a deliberate attempt to derail the bank’s ongoing loan recovery efforts,” the bank said.
The complaint, according to the bank, relates to an old loan recovery case involving Splendour Gems (formerly Beautiful Diamonds), a company promoted by the Mehta family. As of May 31, 2025, dues from the company stood at Rs 65.22 crore, and a recovery certificate was issued by the Debt Recovery Tribunal (DRT) in 2004. The bank added that members of the Mehta family have filed several legal and criminal complaints in response to recovery efforts, most of which have either been dismissed or are under legal challenge.
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Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
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