Claims made by HDFC Bank don't add up: Lilavati Trust; HDFC denies charges
In a fresh attack on HDFC Bank MD and CEO Sashidhar Jagdishan, Lilavati Kirtilal Mehta Medical Trust (LKMM Trust) on Wednesday said the claims made by the bank about a single loan are not consistent and it has never produced any official loan ledger or agreement in court regarding its transaction with the Trust.
Refuting allegations, an HDFC Bank spokesperson in a statement said the allegations and insinuations made by the trustees are devoid of any iota of truth whatsoever and neither the bank nor its CEO has engaged in any activity that is illegal, unethical or improper.
The LKMM Trust manages and runs the prestigious Lilavati Hospital in Mumbai. Various documents from the bank reflect widely inconsistent loan amounts for instance, Rs 4.8 crore was cited initially, Rs 450 crore in another filing, and now Rs 65.22 crore, LKMM said in a statement. "How can one of India's largest banks make three different claims about a single loan, and not back it up with a basic loan agreement and ledger?" LKMM Prashant Mehta, Permanent Trustee wondered.
The LKMM Trust and Prashant Mehta maintained that they had never taken a loan from HDFC Bank, and these inconsistencies support that claim, rather than refute it. The bank's refusal to present even basic documents in court undermines the credibility of the entire case and hints at deliberate narrative manipulation, it alleged. The Trust also alleged that the Rs 2.05 crore bribe money was paid to HDFC Bank MD and CEO Sashidhar Jagdishan to help Chetan Mehta group remain illegally in control of the LKMM Trust. However, the HDFC Bank's spokesperson said, "We reiterate our unequivocal, categorical and unambiguous denial and condemnation of these egregiously malicious, false and defamatory allegations and insinuations." The bank said it is concerned about its stakeholders and is on the verge of taking strong legal actions as per expert advice, against those who are initiating these baseless allegations with malafide and ulterior motives or involved in propagating the same. Members of the public and media are urged to exercise their critical judgement in reporting or amplifying the unsubstantiated allegations and insinuations, the spokesperson added.
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