HDFC-Lilavati Hospital Saga

HDFC Bank CEO Sashidhar Jagdishan faces an FIR over alleged Rs 2.04 crore cash payments from the Lilavati Trust, where he was appointed as Financial Advisor. He denies wrongdoing, calling the evidence fabricated, but the Supreme Court has allowed the police investigation to continue. The FIR stands. We unpack the details in a 10-part story on the Lilavati saga of how a banker turned hitman, played sides in a family dispute, availed pecuniary benefits and as quid pro quo indulged in recovery tactics meant to terrorize.

A glance at the beginnings: Kirtilal Manilal Mehta who made his fortunes in diamond trade in post independent India was driven by empathy and the compassionate nature of his wife, Lilavati and in commemoration formed the Lilavati Kirtilal Mehta Medical Trust, leading to the creation of Lilavati Hospital in Mumbai (opened in 1997, now a major healthcare institution). The Trust was structured to keep control with Kirtilal’s son, Kishor’s family through Permanent Trustees. After all it was Kishor who was instrumental in developing the Lilavati Hospital project.