The Bombay High Court has intervened to resolve a financial dispute between IndusInd Bank and the Lilavati Trust. The matter stemmed from internal disagreements among the trustees regarding the funds held with the bank. In its decision, the Court directed IndusInd Bank to release ₹65.68 crore to the trust, which manages Lilavati Hospital within three days.
What is the Case?
- The trust had kept money in a fixed deposit with the bank.
- The deposit matured in June 2024, but the bank did not release the money.
- The bank was worried because there was a dispute among the trustees and wanted official approval before releasing the funds.
What did the trust say?
- The trust argued that the bank’s demand was unnecessary.
- It assured the court that the money belongs only to the trust
- It also said that trustee Charu Mehta is fully authorised to handle the funds.
What did the court decide?
- The court accepted the trust’s assurance (called an undertaking).
- The trust promised to use the money only for legal hospital purposes and to protect the bank from any future legal problems.
The Bombay High Court resolved the the dispute and ensured the hospital trust gets its money quickly, while also protecting the bank from future legal risks.
