Who is Sashidhar Jagdishan? The top banking executive facing financial fraud allegations from Lilavati Trust

The Mehta family filed an FIR against HDFC Bank's Managing Director and Chief Executive Officer (CEO) Sashidhar Jagdishan after the Lilavati Trust allegations on Sunday, 8 June 2025, according to an exchange filing.
According to the bank's filing on BSE, HDFC Bank's senior officials are currently being targeted by unscrupulous persons who aim to abuse the legal process of recovering a long-outstanding loan from a defaulter named Splendour Gems Ltd. The bank called the 'frivolous' FIR action 'malicious and baseless' on Sunday.
The MD and CEO of HDFC Bank, Sashidhar Jagdishan took charge in 2020, replacing India's longest-serving CEO Aditya Puri. In 2023, the Reserve Bank of India approved his re-appointment for a period of three more years and he will remain at the post till 26 October 2026.
Fondly known as Sashi, Jagdishan has been a part of the HDFC Bank since 1996. He joined the bank as a manager in the finance division in 1996 and went on to become the finance head in 1999. Subsequently, he was appointed as the chief financial officer of HDFC Bank in 2008. "Sashi has played a critical role in supporting the growth trajectory of the bank," the lender stated.
Prior to his appointment as Managing Director & Chief Executive Officer of the Bank, he was the Group Head of the Bank in addition to overseeing the functions of Finance, Human Resources, Legal & Secretarial, Administration, Infrastructure, Corporate Communications and Corporate Social Responsibility. He was named as the "strategic change agent" of the bank in 2019. With two-decade long experience, Jagdishan oversees the functions of Finance, Human Resources, Legal & Secretarial, Administration, Infrastructure, Corporate Communications and Corporate Social Responsibility.
"He has led the finance function and played a pivotal role in aligning the organisation in achieving the strategic objectives over the years," the bank mentioned.
After graduating in physics, Jagdishan pursued his master's degree in economics, before becoming a chartered accountant by profession.
Jagdishan holds a Bachelor of Science degree in physics from the University of Mumbai and a masters in economics of money, banking and finance from the University of Sheffield, UK. He is also a Chartered Accountant from the Institute of Chartered Accountants of India.

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