On July 4, the Supreme Court refused to entertain HDFC Bank CEO Shashidhar Jagdishan's plea to quash the FIR filed by the Lilavati Kirtilal Mehta Medical Trust. A bench of Justices PS Narasimha and R Mahadevan said the matter is scheduled to be heard in the Bombay High Court on July 14.
"We have been informed that the matter is scheduled to be heard on July 14. Therefore, there is no occasion for us to entertain this special leave petition," the court said.
Senior advocate Mukul Rohatgi, appearing for Jagadeesan, argued that the FIR was baseless and aimed at dragging the bank into a private dispute between the Lilavati trustees. He sought interim protection till July 14, citing damage to the bank's reputation and the delay in the high court hearing due to several judges recusing from the case.
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"Their only intention is to call the MD to the police station and create havoc for the bank… I want interim protection till July 14," Rohatgi said.
Despite expressing sympathy for the delay caused by judges recusing from the case, the Supreme Court held firm that it cannot interfere at this stage.
Justice Narasimha said:
“We sympathise with the fact that the revocation proceedings were initiated only on June 12, and since then one bench after another has recused itself from it. We understand that. It is unfortunate. But now that it is listed…”
The court also added a note of hope in its official order:
“We hope and trust that the matter will be taken up on the scheduled date, that is July 14, 2025.”
Senior advocate Abhishek Manu Singhvi, representing the Lilavati Trust, opposed the plea and reminded the court that the July 14 listing was agreed to by the petitioner himself.
The FIR alleges that Jagdishan received a bribe of Rs 2.05 crore from former trustee Chetan Mehta and suggested to him ways that would help him retain control over the management of the trust. It also accuses the HDFC CEO of interfering in internal matters by abusing his official position.
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The case has faced considerable procedural delays in the Bombay High Court:
- On June 18, Justice Rajesh Patil recused himself from the case.
- Later, Justice Sarang Kotwal also recused himself.
- Then, Justice Jitendra Jain disclosed a conflict of interest due to his ownership of HDFC Bank shares and recused himself following objections.
Additionally, an earlier administrative order barred listing of cases related to the Lilavati Trust before six other judges.
During the first mention before a bench led by Justice MM Sundresh, it was submitted that the FIR was part of a larger power struggle between warring trustee factions, and that the bank’s legal actions to recover money from one group led to the retaliatory FIR.
The next hearing has now been scheduled for July 14, with the Supreme Court making it clear that all disputes can be raised before the Bombay High Court on that date.
Case Title: SASHIDHAR JAGDISHAN Versus STATE OF MAHARASHTRA AND ORS., SLP(Crl) No. 9602/2025
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