HDFC CEO's appointment letter under scrutiny
The Lilavati Kirtilal Mehta Medical Trust has called for a forensic investigation into claims that HDFC Bank CEO Sashidhar Jagdishan was secretly made their financial advisor in 2022, allegedly without trustee approval.
The trust says Jagdishan took ₹2.05 crore in bribes to help ex-trustee Chetan Mehta stay in power and moved trust funds into HDFC accounts.
'Big questions about charities and powerful business leaders...'
This isn't just about one hospital—these are big questions about how charities and powerful business leaders handle money and accountability.
With police now involved and the Economic Offences Wing starting an investigation, the case is shining a light on nonprofit governance at the highest levels.
HDFC Bank calls accusations 'malicious'
Chetan Mehta denies knowing about any appointment letter but says he's open to a forensic audit.
Meanwhile, HDFC Bank has called the accusations "baseless and malicious."
As Jagdishan tries to get the police complaint thrown out, all eyes are on how this plays out for both him and the trust.
Jagdishan has been with HDFC Bank since it started
Jagdishan has been with HDFC Bank since it started back in 1994 and became CEO of India's biggest private bank.
Now, his alleged role in this nonprofit drama is raising fresh questions about transparency when top corporate names get involved with charity work.