India, May 6 -- The Bombay High Court on Tuesday quashed the first information report (FIR) lodged against HDFC Bank managing director and chief executive officer (CEO) Sashidhar Jagdishan, asset reconstruction firm Phoenix ARC Pvt Ltd and two of its senior executives, Keki Elavia and Venkattu Srinivasan, for allegedly defrauding the Lilavati Kirtilal Mehta Medical (LKMM) Trust, which manages the Lilavati Hospital in Bandra.

While striking down the criminal proceedings, a division bench of justices MS Karnik and NR Borkar said that the complaint lodged by LKMM trustee Prashant K Mehta, based on which the FIR was registered, was nothing but an abuse of the process of law.

"We are more than satisfied that the filing of the complaint by re...