SASHIDHAR JAGDISHAN
Lilavati Trust files Rs 1,000 cr defamation suit against HDFC Bank CEO
Lilavati Kirtilal Mehta Medical Trust has filed a Rs 1,000 crore defamation suit. The suit is against HDFC Bank CEO Sashidhar Jagdishan. The Trust alleges malicious statements. It also filed a criminal complaint. HDFC Bank refutes the charges. The bank claims it is targeting loan defaulters. It plans legal action against those making baseless allegations. The dispute involves Splendour Gems.
Stocks in news: Siemens Energy, Jio Financial, Hero MotoCorp, ESAF SFB, Abbott India
Markets experienced a slight downturn, prolonging the consolidation period. Siemens Energy India listed post-demerger, while Jio Financial Services acquired Jio Payments Bank shares from SBI. ESAF SFB approved the sale of non-performing loans to an ARC. Hero MotoCorp is set to launch VIDA VX2 with a 'Battery-As-A-Service' model in July.
HDFC Bank CEO moves Bombay HC to quash FIR filed by Lilavati Trust over ₹2.05 cr bribery allegations
HDFC Bank's CEO, Sashidhar Jagdishan, finds himself facing serious allegations from Lilavati Hospital. The institution claims that Jagdishan accepted bribes in exchange for facilitating a group’s operations.
HDFC Bank shares in focus amid loan record, bribery allegations by Lilavati Trust
HDFC Bank shares: The trust that runs the renowned Lilavati Hospital in Mumbai has claimed that the bank has given inconsistent figures regarding a single loan—first stating it as ₹4.8 crore, then ₹450 crore, and now ₹65.22 crore—without providing any formal loan agreement or ledger as evidence.
Stocks in news: Wipro, HDFC Bank, Nazara Tech, Maruti Suzuki, Bank of Baroda
Amid market volatility, promoter entities exchanged Wipro shares. Vijay Kedia invested in Advait Energy, while Bank of Baroda bid for Jet Airways' office space. HDFC Bank faces scrutiny over loan claims. NTPC raised funds for expansion, and ICICI Bank divested its stake in NIIT-IFBI. Zydus Life received US FDA approval, and NCLT approved Maruti Suzuki's merger.
Claims made by HDFC Bank don't add up: Lilavati Trust; HDFC denies charges
Lilavati Kirtilal Mehta Medical Trust has accused HDFC Bank and its CEO Sashidhar Jagdishan of loan inconsistencies. The Trust alleges discrepancies in loan amounts and bribery. HDFC Bank denies all allegations. The bank calls the claims malicious and false. HDFC Bank threatens legal action against those making the allegations. The bank urges the public to be critical of the claims.
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HDFC Bank says timing of allegations against CEO Sashidhar Jagdishan reveals 'devious' motive of Lilavati Trust
HDFC Bank has called the timing and intent of allegations by the Lilavati Trust a deliberate attempt to obstruct its legal recovery process. The bank's MD and CEO, Sashidhar Jagdishan, was named in a police complaint filed by the Mehta family via the Lilavati Kirtilal Mehta Medical Trust, which runs Mumbai’s Lilavati Hospital.
Chetan Mehta has no relation to Mehta family defaulters mentioned by HDFC Bank, says lawyer
Chetan Mehta, a trustee of Lilavati Kirtilal Mehta Medical Trust, denies any connection to Splendour Gems Limited, identified by HDFC Bank as a defaulter. His lawyer asserts he's unrelated to Kishore Mehta and his sons, who own the company. This denial follows allegations from the Trust against HDFC Bank's CEO and the bank's clarification regarding unpaid loans and legal obstruction.
Lilavati Trust says no dues owed to HDFC Bank
Lilavati Kirtilal Mehta Medical Trust accuses HDFC Bank's Sashidhar Jagdishan of accepting a bribe. The trust denies any outstanding dues to the bank. They claim no connection to Splendour Gems Ltd. HDFC Bank counters, stating the trust is trying to block loan recovery. The bank says Splendour Gems defaulted in 1995. Outstanding dues are approximately Rs 65.22 crore.
Stocks in news: HDFC Bank, Suzlon Energy, Tata Steel, BEL, MCX
HDFC Bank Share: Markets closed the week positively, buoyed by favorable domestic factors. HDFC Bank will pursue legal action against allegations from the LKMM Trust. Suzlon Energy's promoters are expected to sell a significant number of shares, while Tata Steel anticipates commencing its low-carbon project in the UK by 2025.
Who is Sasidhar Jagdishan, MD and CEO of HDFC Bank named in Lilavti Trust FIR?
HDFC Bank's MD and CEO, Sashidhar Jagdishan, faces allegations of financial fraud after an FIR was filed by the Lilavati Kirtilal Mehta Medical Trust, claiming his involvement in misappropriating funds. The Trust seeks his suspension and regulatory action, while HDFC Bank vehemently denies the charges, asserting they are baseless and linked to a loan recovery attempt.
HDFC Bank shares in focus after CEO named in alleged fraud linked to Lilavati Trust
HDFC Bank’s CEO, Sashidhar Jagdishan, was named in a police complaint by the Mehta family linked to alleged financial fraud involving the Lilavati Kirtilal Mehta Medical Trust. The bank denies the claims, calling them baseless and a misuse of legal processes amid an ongoing loan recovery dispute with the Mehta family over dues from Splendour Gems.
HDFC Bank MD & CEO named in alleged fraud linked to Lilavati Trust: What are allegations?
HDFC Bank's CEO, Sashidhar Jagdishan, faces allegations in a Mumbai Police FIR. The Lilavati Kirtilal Mehta Medical Trust alleges he received money to harass a trustee's father. HDFC Bank denies the charges, linking them to a loan recovery case involving Splendour Gems. The bank claims the Mehta family is attempting to derail recovery efforts.
HDFC Bank to take legal action after fraud allegations against CEO Sashidhar Jagdishan
HDFC Bank will pursue legal remedies against allegations by the Lilavati Kirtilal Mehta Medical Trust, which called for the suspension of CEO Sashidhar Jagdishan over alleged financial fraud. The bank strongly denies the claims, stating they are attempts to obstruct loan recovery from defaulters. HDFC asserts the Trust's actions are a malicious attempt to defame its CEO.
RBI's cash influx seen a small relief amid global uncertainty
India’s recent monetary easing and liquidity push are unlikely to immediately revive domestic demand, according to bankers and analysts, despite the Reserve Bank of India (RBI) cutting policy rates and injecting over $70 billion into the banking system. The measures, including a second consecutive 25 bps rate cut on April 9, are seen more as cushioning steps amid slowing growth and global uncertainty.
Things at HDFC weren't going according to plan post merger, says MD & CEO Sashidhar Jagdishan
Jagdishan acknowledged that the banking landscape changed dramatically after the lender decided to merge with parent HDFC in April 2022, but he defended the decision.
HDFC Bank to grow deposits aggressively, slowdown loan growth
HDFC Bank MD Sashidhar Jagdishan stated advances will grow slower post-HDFC merger to lower the 110% credit-deposit ratio. The bank plans 900 new semi-urban branches and saw a drop in attrition despite a social media controversy. RBI’s Das cautioned against aggressive lending. Liquidity buffers and prepaying borrowings are vital steps.
RBI approves re-appointment of Sashidhar Jagdishan as MD, CEO of HDFC Bank
The Reserve Bank of India has approved the re-appointment of Sashidhar Jagdishan as MD and CEO of HDFC Bank. Jagdishan, a chartered accountant with over 31 years of experience, joined the bank in 1996 and has played a critical role in its growth.
Here is the salary HDFC Bank CEO Sashidhar Jagdishan took home in FY23
HDFC Bank CEO and MD, Sashidhar Jagdishan, earned an annual remuneration of Rs 10.55 crore for the year ending March 31, 2023, compared to Rs 6.52 crore earned in 2022, as revealed in the annual report. The package included a basic salary of Rs 2.82 crore, allowances and perquisites of Rs 3.31 crore and a performance bonus worth Rs 3.63 crore. Meanwhile, Executive Director Kaizad Bharucha earned an annual remuneration of Rs 10.03 crore in the same period.
HDFC Bank to open 1,500-2,000 branches every year, says CEO Sashidhar Jagdishan
"The branch will be digital from a customer on-boarding and transaction/servicing perspective. It will provide the emotional connect and relationship management necessary for offering financial solutions to our customers. These branches will be small in size and will be phygital relationship centres," Jagdishan said.
Foreign investment may rise in HDFC Bank
The proposed HDFC Ltd and HDFC Bank amalgamation will involve HDFC Investments and HDFC Holdings merging with the parent mortgage company. Subsequently, HDFC will merge with its banking arm, resulting in all group companies becoming direct subsidiaries of HDFC Bank.
Thank you, RBI for embargo: HDFC Bank CEO Sashidhar Jagdishan
HDFC Bank CEO Sashidhar Jagdishan has said that the RBI embargo has enabled the bank to reimagine its IT systems and processes and “turbo-charge” the pace of its technology transformation. He reiterated the bank’s plan to be “back with a bang” in the card space and regain lost market share.
Will bounce back strongly after pandemic behind us: HDFC Bank MD
“We have seen a decent healthy growth in our business metrics when we consider that this is one of the worst times in history and for the June quarter we were able to step out only 40 days,” said Sashidhar Jagdishan, MD, HDFC Bank while addressing shareholders at its annual general meeting. “Once the pandemic is behind us I am sure that your bank will bounce back strongly.”
HDFC Bank ups lending to state-run entities
“While we continue to focus on the Corporate Cluster and Government Business to increase penetration, we have created a new business segment of Commercial (MSME) and Rural Banking to capture the next wave of growth,” Sashidhar Jagdishan, MD, HDFC Bank, said in the latest annual report.
Sashidhar Jagdishan to take charge as MD & CEO of HDFC Bank from Tuesday
Sashidhar Jagdishan will replace India's longest-serving bank CEO, Aditya Puri, who retired on Monday.
Can create another middle-class in rural, says HDFC Bank founder CEO Aditya Puri
The founder CEO of HDFC Bank, will hand over the reins to his colleague Sashidhar (Sashi) Jagdishan in October
HDFC Bank delivered 25,000% return under Aditya Puri. Can Jagdishan beat that feat?
Shares of HDFC Bank got listed on BSE in May 1995, six months after his appointment. Since then, the stock has delivered 25,000 per cent returns to investors till date.
HDFC Bank surges 5% as RBI approves appointment of the new CEO
A board meeting will also be convened in due course to approve his appointment.
Readying for life after Aditya Puri's retirement: HDFC Bank rejigs top management
Terms Sashidhar Jagdishan ‘change agent’, also makes him the head of all important portfolios.
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