HDFC Bank, a major organization in the country’s private banking sector, has been engulfed in disputes. Lilavati Kirtilal Mehta Medical Trust has made serious allegations against the bank’s managing director and Chief Executive Officer Shashidhar Jagadishan and demanded legal action against him.
The complaint lodged by the trust alleged that the bank not only took irregularities in financial transactions, but also transacted a large amount of money with the aim of mentally torturing the family of a trust member.
Key evidence made for hand written diary, court order for FIR
The trust has claimed in its allegations that a former trustee was given Rs 2.05 crore to the CEO of the bank, to harass the father of an existing member. The transaction was recorded in a hand -written diary, which has now been introduced as evidence.
In this case, the trust has obtained permission from the Mumbai Magistrate Court to register an FIR and it has been said that they will proceed towards legal action against 8 other persons including Jagdishan.
HDFC Bank told allegations conspiracy, trustee accused of not paying dues
In an official statement issued by the bank on Saturday, these allegations have been denied outright. The bank has said that the case is actually related to the recovery of an old outstanding loan, in which a trustee of the trust Prashant Mehta and his family have been missing for a long time.
The bank spokesman said, “Efforts have been made to recover this loan for almost 20 years. Some members of the trust are repeatedly misusing the legal process to prevent the bank’s legitimate recovery action. Now, after the Supreme Court failed, they are targeting the CEO of the bank personally.”
The bank said – ‘Will resort to law, protect reputation’
HDFC Bank in its statement made it clear that it would take all necessary legal steps to protect the reputation of its MD and CEO. The bank expressed confidence that the truth would be revealed through the justice process and the malicious conspiracies made by the trustees of the Lilavati Trust will be exposed.
