HDFC Bank says timing of allegations against CEO Sashidhar Jagdishan reveals 'devious' motive of Lilavati Trust
HDFC Bank
on Wednesday said the timing and manner of allegations against the bank's Managing Director and CEO, Sashidhar Jagdishan, by the Lilavati Trust demonstrate the devious objective of preventing the bank from carrying out its legal mandate of recovery and enforcement.
"The allegations and insinuations made by the trustees are devoid of any iota of truth whatsoever. Neither the Bank nor its MD & CEO have engaged in any activity that is illegal, unethical or improper," HDFC said in a statement.
The bank is fully compliant with the laws of the land and follows the highest standards of governance and ethics, it said further.
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"The Bank does not see any necessity to respond/clarify on daily basis in respect of such baseless, frivolous and malicious campaign initiated by the Mehta family through Lilavati Kirtilal Mehta Medical Trust (LKMM Trust), which is done with a sole purpose of maligning the image/reputation of the Bank and its MD & CEO."
The bank's Managing Director and CEO, Sashidhar Jagdishan, was named in a police complaint filed by the Mehta family through the Lilavati Trust, which manages Mumbai's Lilavati Hospital.
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