New Delhi: The Supreme Court on Friday declined to entertain a petition filed by HDFC Bank’s CEO and Managing Director, Sashidhar Jagdishan, seeking to quash a First Information Report (FIR) registered against him on allegations of cheating and fraud. The complaint was filed by the Lilavati Kirtilal Mehta Medical Trust, which operates the well-known Lilavati Hospital in Mumbai.
A bench comprising Justices P.S. Narasimha and R. Mahadevan observed that the case is already scheduled for hearing before the Bombay High Court on July 14.
Senior advocate Mukul Rohatgi, representing Jagdishan, stated that although the matter had been moved to the High Court, three separate benches had recused themselves from hearing the plea. He emphasized that “the idea is to summon the MD to the police station,” and requested that no coercive steps be taken against his client in the interim.
The FIR was lodged at the Bandra police station based on an order from a Bandra magistrate court under Section 175 of the Bharatiya Nagarik Suraksha Sanhita (BNSS), following an application by the Trust.
According to the Trust’s complaint, Jagdishan allegedly received a bribe of ₹2.05 crore in return for financial consultancy services aimed at enabling the Chetan Mehta Group to maintain illegal control over the Trust’s governance. It further accuses Jagdishan of misusing his leadership position at a top private bank to interfere in the internal affairs of a charitable institution.
Jagdishan’s petition to quash the FIR was initially listed before the Bombay High Court in June.
The charges registered against him include cheating and criminal breach of trust by a public servant. In a public statement earlier this month, the Trust described the ₹2.05 crore transaction as part of a larger conspiracy to misappropriate its resources and manipulate governance decisions in favour of the Chetan Mehta Group.
The Trust has also filed a separate petition with the Bombay High Court seeking a Central Bureau of Investigation (CBI) probe into the case.
