In a statement, the bank said it has obtained comprehensive legal advice and representation in this matter and is committed to exploring all available legal options to defend the reputation of its MD & CEO. The bank added that it takes immense pride in the integrity and leadership of its MD & CEO.
According to media reports, the Lilavati Trust has alleged that one of its former members paid Jagdishan Rs 2.05 crore with the purported intent of harassing the father of a current Trust member. In its response, HDFC Bank strongly rejected the claims, stating that its MD & CEO is being targeted by unscrupulous individuals abusing the legal system to obstruct the recovery of a long-standing loan from wilful defaulters.
The bank stated that the allegations made by the Lilavati Trust, its trustees, and officials are baseless and malicious, and categorically denied what it called outrageous and preposterous accusations.
The Trust, in its own statement issued Saturday, said its actions were based on a May 30 order from the Mumbai Magistrate Court, which directed the Bandra police to file a First Information Report (FIR) against Jagdishan and seven others.
In its response, HDFC Bank claimed that one of the Trust’s trustees, Prashant Mehta, along with his family members, owes significant sums to the bank which remain unpaid. The bank said it has been pursuing recovery and enforcement actions for over two decades.At every stage, HDFC Bank said, Prashant Mehta and his family have launched multiple vexatious legal actions to delay recovery. Having failed consistently, including at the level of the Hon’ble Supreme Court, they have now resorted to personal attacks on the bank’s MD & CEO in a clear attempt to intimidate and deflect.HDFC Bank expressed full confidence in the judicial process and said it believes the courts will recognise the alleged misuse of legal proceedings and the intention to malign the bank’s leadership.
