HDFC Bank CEO faces new financial misconduct allegation

Business Jul 12, 2025

HDFC Bank CEO Sashidhar Jagdishan and other senior officials are being investigated by Nagpur's Economic Offences Wing after a trader, Narendra Singru, claimed ₹6 crore vanished from his account.
He says the money was invested in foreign companies without his consent—a pretty serious accusation for one of India's biggest banks.

Complaint details

Singru's lawyer says the bank's Dhantoli branch mishandled a ₹6 crore bond he put in about three years ago, wiping out his account with no warning about risks.
Other officials—Komal Gupta, Ashish Nichani, and Yash Gajaria—are also named in the complaint.
Police have confirmed they've received the case and are digging deeper to see if this counts as intentional fraud.