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A big news has come out in the banking and corporate world of the country. Private sector leading HDFC Bank Chief Executive Officer (CEO) and Managing Director (MD), Shasidhar Jagdish An FIR has been lodged at Kherwadi police station in Mumbai, accusing them of financial irregularities and fraud. This FIR connected to the prestigious Liladevi Hospital and Research Center Liladevi Kirtanlal Mehta Medical Trust (Lilavati Kirtilal Mehta Medical Trust) A faction of the Mehta family has been conducted.

Complainant SorrowWhich is also a trustee of Liladevi Trust, alleged that three persons including HDFC Bank officials together almost ₹ 214 crore alleged financial fraud and criminal betrayal Has done

Who are involved in the FIR?

CEO in FIR registered Shashidhar jagdish Along with, Vice President of HDFC Bank Deepu Hiranandani And advisor to law firm ‘Isa Jakaafee & Associates’ Rajiv dubey Has also been accused. Police said this FIR various serious sections of the Indian Penal Code (IPC) 420 (fraud), 406 (criminal betrayal), 409 (criminal betrayal by public servant/banker) and 120B (criminal conspiracy) Has registered under

What are the allegations?

On behalf of the Mehta family, it has been alleged that HDFC Bank associated with Liladevi Trust Foreign portfolio investment (fPI) rules Allegedly misused. He claims that the bank “illegally transferred” and “removed” the money of several investors through an old fund of the trust, causing great financial loss to the trust. The FIR especially mentions “embezzlement of funds in illegal methods”.

Reference to dispute:

It is important to note that the Liladevi Trust and Hospital have long been implicated in a complex and tough legal dispute over management control and division of property between Mehta family members. Niket Mehta has claimed in his complaint that HDFC Bank took advantage of this “legal and domestic dispute” going on among his family members.

However, there is no immediate official comment on these allegations from HDFC Bank or its officials. Typically, the bank has been presenting such cases as an internal dispute of the trust.

This FIR has become a subject of debate in banking and corporate corridors due to serious allegations against the country’s largest private sector bank’s top official. The police has started investigating the case, and more information on it is expected to come out in the coming days.