The Lilavati Kirtilal Mehta Medical Trust (LKMM Trust) has strongly refuted claims by HDFC Bank regarding outstanding dues, escalating a legal dispute that has now led to civil and criminal defamation proceedings worth ₹1,000 crore.
🔴 Key Highlights:
- LKMM Trust denies owing any money to HDFC Bank, stating it has never borrowed from the lender or had any connection to Splendour Gems Ltd, the company at the center of the loan default case.
- The Trust alleges that HDFC Bank MD & CEO Sashidhar Jagdishan accepted a ₹2.05 crore bribe, enabling the Chetan Mehta Group to retain illegal control over the Trust.
- HDFC Bank maintains that Splendour Gems Ltd defaulted on loans worth ₹65.22 crore, and insists its recovery actions are lawful and ongoing.
- The Trust has filed an FIR against Jagdishan, accusing him of financial fraud, evidence tampering, and obstruction of justice.
- HDFC Bank has dismissed the allegations as “baseless and malicious”, calling them a deliberate attempt to evade repayment.
📢 LKMM Trust’s Statement:
“Neither the Trust nor its permanent trustee, Prashant Kishor Mehta, has ever borrowed a single rupee from HDFC Bank. The allegations are false, and we will pursue legal action to defend our reputation.”
⚠️ Strategic Impact:
- The dispute raises concerns over corporate governance and financial transparency, with both parties locked in a high-stakes legal battle.
- HDFC Bank’s reputation is under scrutiny, while LKMM Trust faces pressure to substantiate its claims.
👉 What do you think? Is this a case of financial fraud or an attempt to evade repayment? Drop your thoughts in the comments!
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