BREAKING | Bombay High Court Quashes FIR Against HDFC Bank CEO Sashidhar Jagdishan By Lilavati Trust

The Bombay High Court on Tuesday quashed the FIR registered against Sashidhar Jagdishan, Managing Director and CEO of HDFC Bank, in connection with allegations of bribery made by the Lilavati Kirtilal Mehta Medical Trust, which manages the Lilavati Hospital

A division bench of Justices M. S. Karnik and N. R. Borkar allowed Jagdishan's plea seeking quashing of the FIR lodged by the Bandra police on  along with the magistrate's order that had directed registration of the case.

The FIR had been registered pursuant to a May 29, 2025 order passed by Judicial Magistrate First Class Komalsing Rajput, invoking offences under Sections 406, 409 and 420 of the IPC and directing a probe under Section 175(3) of the Bharatiya Nagarik Suraksha Sanhita (BNSS).

The complaint was filed by Prashant Mehta on behalf of the trust. As per the FIR, it was alleged that Jagdishan had accepted Rs 2.05 crore as a bribe from a group led by Chetan Mehta and other erstwhile trustees to help them retain control over the trust.

According to the Mehta, the allegations stemmed from events during loan recovery proceedings involving Splendour Gems Limited, a company owned by the Mehta family, which had allegedly defaulted on dues of over Rs 65 crore to HDFC Bank. It was claimed that after assuming office, Prashant Mehta discovered a diary purportedly recording payments made to Jagdishan on the directions of Chetan Mehta.

The magistrate, while directing registration of the FIR, had noted that the allegations disclosed cognizable offences and that a police probe was required to verify the transactions and ascertain the source of funds.

Jagdishan had approached the High Court seeking the quashing of the FIR and the magistrate's order, contending that the complaint was baseless and malicious.