Overview

• The LKMM Trust has launched a ₹1,000 crore civil defamation suit alleging that Jagdishan made malicious, false statements against the Trust and its Permanent Trustee, Prashant Mehta.
• A criminal defamation complaint filed in Girgaon has prompted notices to Jagdishan, HDFC Bank’s spokesperson and its Corporate Communication Head.
• The Trust disputes HDFC Bank’s claim of a ₹65 crore loan, insisting it never borrowed funds and instead deposited ₹48 crore in fixed deposits and bonds with the bank.
• The lawsuit details allegations that Jagdishan accepted free medical treatment, facilitated a ₹2.05 crore bribe and made unauthorized CSR payments during an existing court injunction.
• HDFC Bank has denied the charges as absurd and urged the Bombay High Court to view the Trust’s legal actions as retaliation for its recovery proceedings.