India, June 9 -- In a filing with the Bombay Stock Exchange (BSE), HDFC Bank Limited has strongly condemned what it describes as a frivolous and malicious First Information Report (FIR) filed against its Managing Director & CEO and other senior officials. The Bank stated that it is being targeted by unscrupulous individuals who are misusing legal channels in an attempt to derail the recovery of a long-outstanding loan from Splendour Gems Limited (formerly Beautiful Diamonds Limited), a company owned by the Mehta family.
According to the BSE filing, Splendour Gems Limited defaulted on credit facilities granted by HDFC Bank and a consortium of banks back in 1995. As of May 31, 2025, the outstanding dues owed to HDFC Bank, including accrued i...