HDFC Bank Share Price Extends Gains After Private Sector Lender Issues Clarification Regarding FIR Against MD Sashidhar Jagdishan

HDFC Bank Share Price: Shares of private sector lender HDFC Bank extended gains on June 9. The bank's shares continued their gaining spree for the fourth straight session. HDFC bank shares have gained nearly 4 per cent in the last four sessions to trade at Rs 1995 apiece on the NSE on June 9.

The stock extended gains after the private sector lender issued a clarification regarding an FIR registered against the MD & CEO of the bank, Sashidhar Jagdishan. Notably, the FIR was registered following a complaint by the Mehta Family through the Lilavati Kirtilal Medical Trust. The Trust alleged in their complaint that Jagdishan was given Rs 2.05 crore to harass the father of a current trustee. The Trust also urged the Reserve Bank of India and the Securities Exchange Board of India to suspend and prosecute Jagdishan for involvement in several financial frauds concerning the Trust.

"The Trust calls upon the board of HDFC Bank, the RBI, SEBI and the Finance Ministry to suspend Jagdishan from all executive and board roles with immediate effect," the Trust said in a statement.

"FIR No. 818/2025 was registered under orders of the Bombay Magistrate Court after a seized cash diary revealed Rs 14.42 crore misappropriated by trustees, of which Rs 2.05 crore was received by Jagdishan — establishing his direct involvement," the Trust said in a statement.

On June 8, the private sector lender informed the exchanges via a press release that the bank and its senior officials are being targeted to disrupt the recovery of a long outstanding loan.

"HDFC Bank Limited and its senior officials are being targeted by unscrupulous persons who are abusing the legal process to thwart the recovery of the long outstanding loan due to HDFC Bank from recalcitrant defaulters i.e Splendour Gems Limited (formerly known as Beautiful Diamonds Limited)," HDFC said in the release.

The bank mentioned in the release that in the year 2001 Splendour Gems Limited, owned by the Mehta family defaulted on a loan which was granted in 1995. Notably the loan was disbursed by HDFC Bank and a consortium of banks. The private sector lender further claimed that the loan remains unpaid and amounts to nearly Rs 65.22 crore as of May 31, 2025.

HDFC bank also mentioned in the release that amid the two-decade long recovery proceedings the Mehta family has attempted multiple legal actions and complaints against the bank and its senior officials. The bank also claimed that the complaints have either been dismissed or are under legal challenge.

The bank also clarified that it unequivocally rejects the allegations called them malicious, baseless allegations and completely false. The bank added that it will remain involved in pursuing legal remedies to recover the loan amount and address the actions taken by the Mehta family.

HDFC Bank Share Price History

HDFC bank's shares have traded with an upward trajectory in the past year; the stock has gained nearly 27 per cent in a year. In the last six months, shares of the private sector lender rallied over 6 per cent, and on a year-to-date basis, the stock has climbed nearly 12 per cent. In a month shares of HDFC bank have gained over 3 per cent.

At the time of writing shares of HDFC bank traded higher by 0.12 per cent at Rs 1,981.1 apiece on the NSE.