Go to Bombay HC for quashing of FIR lodged by Lilavati Trust, SC tells HDFC Bank CEO

Noting that the matter was already listed for hearing on July 14 before the Bombay High Court, the Supreme Court on Friday refused to entertain HDFC Bank CEO-cum-MD Sashidhar Jagdishan’s petition seeking quashing of an FIR registered against him by Lilavati Kirtilal Mehta Medical Trust, which runs Lilavati Hospital in Mumbai.

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"We are not inclined to entertain the matter. We will not apply our mind to the merits. If the matter is not heard on the 14th, you come back. We hope and trust that the high court will take the matter up on the designated date," a Bench of Justice PS Narasimha and Justice R Mahadevan told senior advocate Mukul Rohatgi, representing Jagdishan.

"The idea is to summon the MD to the police station. No proceedings should be taken against the MD," Rohatgi said, adding, the bank has been unnecessarily dragged into a private dispute.

Rohatgi said Jagdishan had approached the top court as three Benches of the Bombay High Court recused themselves from hearing the matter.

HDFC Bank CEO and MD Sashidhar Jagdishan on Thursday moved the Supreme Court seeking quashing of an FIR for alleged cheating and fraud registered against him by the Lilavati Kirtilal Mehta Medical Trust, which runs Lilavati Hospital in Mumbai.

The Lilavati Kirtilal Mehta Medical Trust alleged that Jagdishan accepted a bribe of Rs 2.05 crore in exchange for providing financial advice to help the Chetan Mehta Group retain illegal and undue control over the Trust's governance.

The Trust accused Jagdishan of misusing his position as the head of a leading private bank to interfere in the internal affairs of a charitable organisation.

The FIR against Jagdishan was registered at the Bandra police station following an order by a Bandra magistrate court under section 175(3) of the Bharatiya Nagarik Suraksha Sanhita (BNSS), based on an application moved by the Trust.

He was booked under alleged charges of cheating, criminal breach of trust, and criminal breach of trust by a public servant.

The Trust alleged that the Rs 2.05 crore payment was part of a larger conspiracy to "loot" the Trust and manipulate its decision-making processes in favour of the Chetan Mehta Group. It has also filed a petition before the high court seeking a CBI probe into the matter.