New Delhi/Mumbai: In a high-profile legal face-off, HDFC Bank’s Managing Director and CEO, Sashidhar Jagdishan, has moved the Supreme Court of India challenging an FIR filed against him by the trustees of Mumbai’s prominent Lilavati Hospital.
The complaint, which Jagdishan has termed “frivolous and malicious”, stems from an ongoing dispute involving pending payments that the hospital reportedly owes to the bank. Jagdishan’s legal counsel, Senior Advocate Mukul Rohatgi, told the Supreme Court that the FIR had no legal foundation and was merely an attempt to apply pressure during financial recovery proceedings.
“The FIR is nothing but a pressure tactic, meant to intimidate the bank and its officials because they are trying to recover dues lawfully,” Rohatgi said during the hearing.
According to sources familiar with the case, HDFC Bank had issued multiple reminders and initiated standard recovery procedures regarding the hospital’s financial obligations. In response, the hospital trustees reportedly lodged an FIR implicating Jagdishan, which includes allegations that legal experts have described as tenuous and retaliatory in nature.
Rohatgi also expressed frustration that despite multiple attempts, the matter was not taken up by any of the three benches of the Bombay High Court, leaving Jagdishan with no option but to approach the apex court.
The Supreme Court is now expected to consider whether the FIR amounts to harassment and whether it should be quashed or stayed. Legal experts are closely watching the case, as it could set a precedent in disputes involving banks and institutional borrowers, especially in matters of alleged retaliatory legal actions.
The outcome of this case could have significant implications for corporate governance, bank-client relations, and the limits of legal redress in commercial disputes.
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