Supreme Court Declines HDFC Bank CEO's Plea Against FIR

New Delhi, Jul 4 (PTI) – The Supreme Court has chosen not to entertain a petition filed by HDFC Bank CEO and Managing Director, Sashidhar Jagdishan, who sought to challenge an FIR accusing him of cheating and fraud. This complaint was filed by the Lilavati Kirtilal Mehta Medical Trust, operators of the prominent Lilavati Hospital in Mumbai. The case is scheduled for a hearing on July 14 in the Bombay High Court.

A bench consisting of Justices P S Narasimha and R Mahadevan mentioned that they would not delve into the case's merits at this juncture. They assured that if the matter is not taken up by the High Court on the mentioned date, the petitioner could return to the Supreme Court. "We hope and trust that the high court will take the matter up on the designated date," the bench remarked.

Senior advocate Mukul Rohatgi, representing Jagdishan, argued that the bank was being implicated in what he described as a private dispute. "The idea is to summon the MD to the police station. No proceedings should be taken against the MD," Rohatgi stated. He expressed concerns that, so far, three benches of the Bombay High Court have recused themselves from hearing this matter.

The accusation against Jagdishan, as per the Trust's complaint, revolves around an alleged acceptance of a bribe amounting to Rs 2.05 crore to supposedly provide financial guidance that would enable the Chetan Mehta Group to retain unwarranted control over the Trust's governance. The Trust accuses Jagdishan of exploiting his position as the head of a major private bank to meddle in the internal matters of a charitable organization.

Jagdishan's legal attempt to quash the FIR was first brought before the high court in June. The FIR was lodged at the Bandra police station following directives from a Bandra magistrate court under section 175 (3) of the Bharatiya Nagarik Suraksha Sanhita (BNSS), hinged on an application by the Trust. The charges against him entail alleged cheating and criminal breach of trust by a public servant.

In a public declaration released earlier, the Trust accused that the Rs 2.05 crore transaction was part of a larger plot to "loot" the Trust and steer its decision-making mechanisms in favor of the Chetan Mehta Group. Furthermore, the Trust has petitioned the high court seeking a Central Bureau of Investigation (CBI) probe into the affair.