Latest news with #SashidharJagdishan
Indian Express
2 hours ago
- Indian Express
Lilavati Trust files Rs 1,000-crore defamation suit against HDFC Bank, its CEO
The Lilavati Kirtilal Mehta Medical Trust (LKMM Trust), which oversees the Lilavati Hospital in Bandra (West), has filed a defamation suit against the HDFC Bank and its Managing Director and CEO Sashidhar Jagdishan, seeking Rs 1,000 crore in damages. The Trust along with its authorised representative and trustee Prashant Mehta filed the suit in the Bombay High Court against Jagdishan, HDFC Bank and others. The Trust filed the suit last week, claiming the bank was running a 'deliberate and sustained smear campaign' against it. The Trust has also filed a criminal defamation complaint before the magistrate court in Girgaon under sections 356 (1) (defamation), 357 (breach of contract), among others, of the Bharatiya Nyaya Sanhita (BNS). As per case records, the magistrate court on June 16 issued notice to the bank, Jagdishan and others, and posted further hearing to July 18. The criminal complaint against Jagdishan alleges that he made malicious and derogatory statements against the Trust and its permanent trustee. 'The legal action aims to counter what the Trust views as a coordinated campaign to malign its reputation and obstruct its operations as a public charitable institution,' a statement by the Trust stated. Earlier this week, Jagdishan approached the Bombay High Court, challenging the FIR filed against him on a complaint filed by the Trust, which has accused him of accepting a bribe of Rs 2.05 crore to help a group consisting of one Chetan Mehta and other erstwhile trustees to retain illegal control over the Trust. On May 29, the magistrate court had ordered the Bandra police to register offences punishable under sections 406, 409 (criminal breach of trust) and 420 (cheating) of the Indian Penal Code (IPC) and had directed the police to probe the matter as per section 175 (3) of the Bharatiya Nagrik Suraksha Sanhita (BNSS). The Bandra police registered the FIR on May 31.
Time of India
6 hours ago
- Business
- Time of India
Lilavati Trust files Rs 1,000 cr defamation suit against HDFC Bank CEO
Mumbai: Lilavati Kirtilal Mehta Medical Trust (LKMM Trust) on Friday said it has filed a Rs 1,000 crore civil defamation lawsuit against HDFC Bank MD & CEO Sashidhar Jagdishan , over a series of malicious, and false statements made against the Trust and its permanent trustee, Prashant Mehta . The legal action aims to counter what the Trust views as a coordinated campaign to malign its reputation and obstruct its operations as a public charitable institution , the Trust, which manages and runs the prestigious Lilavati Hospital in Mumbai said in a statement. In addition to the civil suit, the Trust has also filed a criminal complaint before the Metropolitan Magistrate, Girgaon, who has issued notice to the CEO, spokesperson, and Corporate Communication Head of HDFC Bank. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like If You Eat Ginger Everyday for 1 Month This is What Happens Tips and Tricks Undo The LKMM Trust and Prashant Mehta have never been a borrower to HDFC Bank but rather a lender depositing Rs 48 crore in the form of fixed deposits and bonds, it said. The Trust and Prashant Mehta are not connected to the affairs of Splendour Gems in any manner whatsoever as fraudulently espoused by the CEO of HDFC, it said. Live Events However, HDFC Bank had earlier refuted charges saying the bank and its senior officials are being targeted by unscrupulous persons who are abusing the legal process to thwart the recovery of the long outstanding loan due to the bank from recalcitrant defaulters i.e Splendour Gems Ltd (formerly known as Beautiful Diamonds Ltd). The bank had said it was concerned about its stakeholders and is on the verge of taking strong legal actions as per expert advice, against those who are initiating these baseless allegations with malafide and ulterior motives or involved in propagating the same.
News18
9 hours ago
- Business
- News18
Lilavati Trust Slaps Rs 1,000-Crore Defamation Suit On HDFC Bank CEO Sashidhar Jagdishan; Details Here
The Lilavati Kirtilal Mehta Medical Trust filed a Rs 1,000 crore defamation lawsuit and a criminal complaint against HDFC Bank CEO Sashidhar Jagdishan for alleged false statements. In an escalation of the ongoing dispute, the Lilavati Kirtilal Mehta Medical Trust (LKMM Trust) has filed a Rs 1,000 crore civil defamation lawsuit against HDFC Bank Managing Director & CEO Sashidhar Jagdishan, accusing him of making 'malicious, false and defamatory" statements against the Trust and its permanent trustee Prashant Mehta. In an official statement, the Trust said, 'The Lilavati Kirtilal Mehta Medical Trust (LKMM Trust) has filed a Rs 1,000 crore civil defamation lawsuit against Mr. Sashidhar Jagdishan, Managing Director & CEO of HDFC Bank, over a series of malicious, false, and defamatory statements made against the Trust and its Permanent Trustee, Mr. Prashant Mehta." The Lilavati Hospital, one of Mumbai's best-known healthcare institutions, operates under the aegis of the LKMM Trust. 'Coordinated Smear Campaign' The Trust alleged that Jagdishan launched a 'coordinated campaign to malign its reputation and obstruct its operations as a public charitable institution." In a parallel move, the Trust has also filed a criminal complaint before the Metropolitan Magistrate of Girgaon, Maharashtra. The court has issued notices to Sashidhar Jagdishan, HDFC Bank's spokesperson, and its corporate communication head. The Trust described the legal action as a vital step forward. 'The criminal complaint and subsequent notice mark a significant step in holding the HDFC CEO accountable for what the Trust alleges is a deliberate and sustained smear campaign," it said. The Trust further clarified that the legal action is not retaliatory: 'But are in response to a sustained effort to discredit a respected charitable institution and its founding family without any supporting documentation or conclusive evidence from HDFC Bank to validate its claims." FIR and Financial Fraud Allegations Denying all allegations linking it to a company under scrutiny, the Trust said, 'The Trust and Prashant Mehta are not connected to the affairs of Splendour Gems in any manner whatsoever as fraudulently espoused by the CEO of HDFC." In response, earlier this week, HDFC Bank MD and CEO Sashidhar Jagdishan approached the Bombay High Court, seeking quashing of the FIR registered against him based on the financial fraud allegations made by the Lilavati Trust, which oversees the Mumbai-based Lilavati Hospital. The plea was mentioned before the court on Wednesday and will be heard in due course of time. The FIR stems from a magistrate court's order, directing the police to investigate the charges of alleged financial fraud. The Lilavati Kirtilal Mehta Medical Trust (LKMM Trust) has alleged in the complaint that of the Rs 14.42 crore misappropriated by its trustees, Rs 2.05 crore were received by Jagdishan. It also claimed that the offer of Rs 1.5 crore disguised as Corporate Social Responsibility (CSR) funds to hospital staff shows the intent to destroy evidence and obstruct justice. Despite judicial findings and multiple complaints, HDFC Bank failed to act, violating Section 166 of the Companies Act and SEBI governance mandates, the Trust alleged. The bank, however, has denied the allegations, calling it 'outrageous and preposterous".
Mint
11 hours ago
- Business
- Mint
Lilavati Trust files ₹1,000 crore defamation suit against HDFC Bank CEO Sashidhar Jagdishan over ‘malicious' statement
In a fresh twist in the HDFC Bank vs Lilavati Trust row, the Lilavati Kirtilal Mehta Medical Trust (LKMM Trust) has filed a ₹ 1,000 crore civil defamation lawsuit against HDFC Bank MD and CEO Sashidhar Jagdishan. The Lilavati Trust has accused the HDFC Bank CEO of making a series of 'malicious, false and defamatory' statements against it and its permanent trustee, Prashant Mehta. 'The Lilavati Kirtilal Mehta Medical Trust (LKMM Trust) has filed a ₹ 1,000 crore civil defamation lawsuit against Mr. Sashidhar Jagdishan, Managing Director & CEO of HDFC Bank, over a series of malicious, false, and defamatory statements made against the Trust and its Permanent Trustee, Mr. Prashant Mehta,' the Trust said in a statement. The Lilavati Hospital in Mumbai is overseen by the Lilavati Kirtilal Mehta Medical Trust. The Trust accused Jagdishan of undertaking a 'coordinated campaign to malign its reputation and obstruct its operations as a public charitable institution'. In addition to the ₹ 1,000 crore defamation suit, the Lilavati Trust has also filed a criminal complaint before the Metropolitan Magistrate of Girgaon, Maharashtra. The magistrate has issued a notice to HDFC Bank CEO Sashidhar Jagdishan, its spokesperson, and the corporate communication head. The Trust said that the criminal complaint and subsequent notice mark 'a significant step in holding the HDFC CEO accountable for what the Trust alleges is a deliberate and sustained smear campaign'. The Lilavati Trust said its actions were not retaliatory, 'but are in response to a sustained effort to discredit a respected charitable institution and its founding family without any supporting documentation or conclusive evidence from HDFC Bank to validate its claims'. Denying HDFC Bank's allegations, it said, 'The Trust and Prashant Mehta are not connected to the affairs of Splendour Gems in any manner whatsoever as fraudulently espoused by the CEO of HDFC.' Earlier this week, HDFC Bank CEO Sashidhar Jagdishan moved the Bombay High Court, seeking the quashing of an FIR filed by the Lilavati Trust. The FIR stems from a magistrate court's order, directing the police to investigate the charges of alleged financial fraud. The Lilavati Trust has alleged in the complaint that of the ₹ 14.42 crore misappropriated by its trustees, ₹ 2.05 crore was received by Jagdishan. It also claimed that the offer of ₹ 1.5 crore disguised as Corporate Social Responsibility (CSR) funds to hospital staff shows the intent to destroy evidence and obstruct justice.
India Today
2 days ago
- Business
- India Today
Stocks to watch June 19: HDFC Bank, Jio Financial, Hero, Abott, Tata Elxsi
Stock markets ended slightly in the red on Tuesday, continuing a phase of consolidation. With the US Federal Reserve deciding to keep its key lending rate unchanged, traders and investors in India may react cautiously in today's session. On June 19, several companies will be in focus due to corporate actions, new developments, or earnings Aegis Logistics and Aegis Vopak Terminals will announce their quarterly results today. Investors will closely watch their performance, especially in light of global supply chain movements and energy BANK HDFC Bank may draw attention as its CEO Sashidhar Jagdishan has approached the Bombay High Court seeking to cancel an FIR filed against him by the Lilavati Trust. The matter is likely to stay in focus until further updates come MOTOCORPHero MotoCorp has announced the launch of its Vida VX2 electric scooters. The rollout will begin on July 1, 2025. The scooters will be offered with a Battery-as-a-Service model, which means customers can use the battery on a subscription basis rather than buying it outright. This move could improve the affordability and reach of electric vehicles in INDIAAbbott India has entered into a distribution agreement with MSD Pharmaceuticals. The partnership aims to widen access to MSD's oral anti-diabetes medicines in India. The agreement includes Sitagliptin-based products that are used to manage Type 2 diabetes. This deal is expected to strengthen Abbott's reach in the diabetes treatment ENERGYShares of Siemens Energy India will debut on the stock market today following its demerger from parent company Siemens. The listing comes after months of preparation, and investors will be watching how the shares perform on the first day of FINANCIAL SERVICESJio Financial Services acquired over 7.9 crore equity shares worth Rs 104.54 crore of Jio Payments Bank (JPBL) from the State Bank of India (SBI). This transaction took place after receiving approval from the Reserve Bank of India on June 4. The deal strengthens Jio Financial's position in the digital banking and payments SMALL FINANCE BANKESAF Small Finance Bank has approved the sale of a group of non-performing and technically written-off loans worth Rs 735.18 crore to an asset reconstruction company (ARC). The move is part of the bank's plan to clean up its balance sheet and reduce bad ELXSITata Elxsi has partnered with Infineon Technologies to co-develop application-ready electric vehicle (EV) solutions for the Indian market. The partnership will focus on designing systems that are tailored for local needs, helping manufacturers build efficient and affordable estate developer Puravankara has secured a new project in Bengaluru. The company bagged a contract worth Rs 272 crore for a residential development, which could support its revenue growth in upcoming LIFESCIENCESZydus Lifesciences is also in focus after the US Food and Drug Administration (US FDA) issued two observations following an inspection at the company's oncology injectable unit located at SEZ 1 near Matoda, Ahmedabad. Investors will be awaiting further clarity on the impact of these observations.
