SC directs HDFC Bank CEO Sashidhar Jagdishan to pursue FIR quashing plea at Bombay HC

The Supreme Court on Thursday declined to intervene with an ongoing FIR against HDFC Bank CEO and MD Sashidhar Jagdishan, directing him to pursue his plea for quashing the FIR before the Bombay High Court, where the matter is already scheduled for a hearing on July 14. A bench of Justices P.S. Narasimha and R. Mahadevan stated that it would be "improper" for the apex court to intervene when the petition is listed before the High Court.

Jagdishan had approached the Supreme Court seeking to quash an FIR lodged against him by the Lilavati Kirtilal Mehta Medical Trust, which manages the prominent Lilavati Hospital in Mumbai. The Trust's complaint alleges that Jagdishan accepted a bribe of ₹2.05 crore in exchange for providing financial advice to help the Chetan Mehta Group retain illegal and undue control over the Trust's governance. Furthermore, it accuses Jagdishan of misusing his position as the head of a leading private bank to interfere in the internal affairs of a charitable organization. The FIR was registered at the Bandra police station following a Bandra Magistrate Court order under relevant sections of the Bharatiya Nagarik Suraksha Sanhita (BNSS), including charges of cheating and criminal breach of trust.

Senior advocate Mukul Rohatgi, representing Jagdishan, pressed for interim protection, arguing that the FIR was "frivolous" and that the bank had been "roped into a private dispute" between the trustees. Rohatgi also highlighted that several benches of the Bombay High Court had previously recused themselves from hearing the matter, causing delays. While expressing sympathy for the delays faced by Jagdishan, the Supreme Court bench reiterated its stance, stating, "We hope and trust that the matter will be taken up on July 14." This decision emphasizes the Supreme Court's judicial restraint when a matter is already slated for hearing in a lower court.