HDFC Bank Limited has informed the Exchange regarding a revised press release dated Jun 08, 2025, titled "Frivolous FIR against MD & CEO of HDFC Bank".
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HDFC Bank has issued a revised press release (corrigendum to an earlier one filed the same day) addressing a fresh FIR/complaint filed against its MD & CEO and other senior officials. The complaint was filed by the Mehta family through Lilavati Kirtilal Medical Trust. HDFC Bank states this is part of a pattern of retaliatory legal actions by the Mehta family aimed at obstructing the bank's recovery of long-outstanding dues of approximately INR 65.22 crore (as of May 31, 2025) from Splendour Gems Limited (formerly Beautiful Diamonds Limited), which defaulted on consortium bank loans back in 1995. The bank calls the allegations 'completely false, outrageous and a gross misuse of the legal process' and says previous complaints and petitions by the Mehta family have already been dismissed. HDFC Bank says it will continue lawful recovery efforts and defend its reputation.
This is largely a reputation-defense communication and is unlikely to have a material financial impact, though it draws attention to an old recovery case and ongoing legal friction with a defaulter's family. Shareholders should monitor whether the FIR leads to any regulatory or judicial action against the bank's leadership, but the bank itself is framing this as nuisance litigation.