No fear of arrest as case is malafide, says HDFC Bank CEO's lawyer Rohatgi

Mukul Rohatgi, representing HDFC Bank CEO Sashidhar Jagdishan, assures no threat of arrest, calls FIR "malafide" as Supreme Court defers case to Bombay High Court for hearing on July 14

While the Supreme Court on Friday did not entertain the plea by HDFC Bank MD & CEO Sashidhar Jagdishan seeking the quashing of the FIR against him, it ensured that his case would be heard by the Bombay High Court on 14 July, said senior advocate Mukul Rohatgi, who is representing Jagdishan.

 

He further stated that during this interim period, there is no threat of arrest, as the case is malafide.

 

Jagdishan did not seek interim relief in the form of anticipatory bail from the Supreme Court, even though he sought the quashing of an FIR filed by the Lilavati Kirtilal Mehta Medical Trust, which runs Mumbai’s Lilavati Hospital.

 

Speaking to Business Standard, Rohatgi, when asked whether Jagdishan could be arrested during the interim period before the Bombay High Court hearing on 14 July, said, “Not at all. The case is malafide.”

 

An email sent to the bank seeking comments on today’s developments did not elicit a response by press time. 

 

On Friday, the Supreme Court declined to quash the FIR lodged against HDFC Bank’s Jagdishan. The two-judge bench refrained from intervening in the matter, noting that the Bombay High Court is scheduled to hear the case on 14 July.

 

This decision follows after three judges in the Bombay High Court recused themselves from hearing the matter.

 

The FIR, filed by the Lilavati Medical Trust, accused Jagdishan of accepting a bribe of ₹2.05 crore from erstwhile Trustee Chetan Mehta, in exchange for giving him financial advice and assisting him in retaining control over the Trust's governance. The FIR also accused Jagdishan of interfering in internal affairs by misusing his position.

 

Previously, the bank accused the Mehta family of attempting to obstruct and undermine legitimate recovery proceedings related to substantial, long-standing dues owed by the family-owned Splendor Gems through the LKMM Trust.

 

The bank has “unequivocally” rejected and condemned the “malicious and baseless” allegations levelled against Jagdishan, calling them completely false, outrageous, and a gross misuse of the legal process.