Latest news with #LilavatiKirtilalMehtaMedical
India Today
3 hours ago
- Business
- India Today
Who is Sashidhar Jagdishan? HDFC Bank CEO under financial fraud lens
Sashidhar Jagdishan, the Managing Director and Chief Executive Officer of HDFC Bank, is under investigation after an FIR was filed against him in connection with a financial fraud complaint was filed by the Lilavati Kirtilal Mehta Medical (LKKM) Trust, which runs the well-known Lilavati Hospital in Mumbai. The Trust has accused Jagdishan of receiving money in a matter that it claims was aimed at troubling the family of one of its current FIR was registered following a May 30 order from the Mumbai Magistrate Court, which directed the Bandra police to act on the complaint and file a formal case against Jagdishan and seven others. According to the Trust, a former member allegedly paid Jagdishan Rs 2.05 crore. The Trust claims to have provided handwritten diary entries as proof of this allegations say that this money was taken to support actions that were meant to harass the father of a current member of the Trust. As part of the complaint, the Trust has demanded strict action against the HDFC Bank IS SASHIDHAR JAGDISHAN?Sashidhar Jagdishan has been a part of HDFC Bank since 1996. He joined as a manager in the finance division and quickly rose through the ranks. By 1999, he had become the head of finance and, in 2008, was made the Chief Financial 2019, the bank named him as its 'strategic change agent', a role that placed him in charge of shaping future plans and key internal changes. The following year, in 2020, he was appointed as the Managing Director and CEO, taking over from Aditya Puri, who had led the bank for many holds a bachelor's degree in physics from the University of Mumbai. He also has a master's degree in economics of money, banking, and finance from the University of Sheffield in the UK. In addition, he is a Chartered Accountant, certified by the Institute of Chartered Accountants of 2023, the Reserve Bank of India approved his reappointment as MD & CEO for another three years. His term is now set to run until October 26, BANK RESPONDS TO THE FIRIn response to the FIR, HDFC Bank has defended its CEO. The bank issued a statement calling the charges 'baseless and malicious'. It said that Prashant Mehta, one of the Trust's current trustees, and his family members owe a large amount of money to the bank. These dues, according to the bank, have not been cleared bank also said it has taken legal advice and will fight the claims to protect its CEO's name and position. 'The Bank takes immense pride in the integrity and leadership of its MD & CEO,' the statement added. advertisement
Mint
9 hours ago
- Business
- Mint
Stocks to watch: HDFC Bank, BEL, L&T, MCX, Bharti Airtel among shares in focus today
HDFC Bank plans to take legal action following accusations from the Lilavati Kirtilal Mehta Medical (LKMM) Trust, which has urged financial regulators to suspend and prosecute the bank's Managing Director and CEO, Sashidhar Jagdishan. According to reports, Suzlon Energy's promoters, the Tanti Family and Trust, are expected to sell 20 crore shares through a block deal on Monday. Adani Group's Ambuja Cements, India's second-largest cement manufacturer, supplies close to 30% of the cement used in the country's residential and infrastructure projects, according to its latest annual report. Tata Steel, a homegrown company, plans to begin construction of its low-carbon, electric arc furnace (EAF)-based steel production facility in the UK starting July 2025, with operations expected to launch by 2027. Infrastructure giant L&T has unveiled a ₹ 500 crore ESG bond offering, marking the first Indian corporate to issue such bonds under SEBI's newly launched framework for ESG and sustainability-linked bonds. Mahindra & Mahindra recorded a 17% year-on-year increase in total sales for May 2025, with volumes rising to 80,458 units from 69,011 units in the same month last year. Production also experienced a strong growth of 28%, reaching 89,626 units compared to 70,261 units in May 2024. However, exports fell by 27% year-on-year to 2,671 units, down from 3,652 units a year earlier. Birla Opus Paints, a subsidiary of the Birla Group, has lodged a complaint with the Competition Commission of India (CCI), accusing Asian Paints, the market leader, of abusing its dominant position. Tata Electronics and Navratna company BEL have entered into a Memorandum of Understanding (MoU) to jointly work on semiconductor and electronics solutions. This partnership aims to support India's self-reliance efforts in areas such as chip design, fabrication, OSAT (Outsourced Semiconductor Assembly and Test), and defence-grade electronic components. MCX has obtained approval from the Securities and Exchange Board of India (SEBI) to introduce electricity derivatives. Telecom operator Airtel has reached out to more than 40 banks, along with the RBI and NPCI, suggesting a close partnership and a unified effort to combat digital fraud, including the exchange of information on a repository of identified fraudulent financial domains. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
