udg12

[udg12 @udg12a]

@HDFC_Bank
5% drop in 1 week
28Jul 735.40
27Jul 739.55
24Jul 742.80
23Jul 747.25
22Jul 753.15
21Jul 761.45
20Jul 777.60

29% off peak
half decade of flat return
& board lets Sashidhar Jagdishan off with 1L fine for MSRDC, Ethics & Compliance, Poor Governance & Stock Performance

[Madanlal Dahariya @MDahariya]

Breaking : Honey I killed the story @rajkamaljha

The follow-up story of MSRDC bribery scandal Part 2 killed by @IndianExpress

The arrangement of 2021-2025 between MSRDC and HDFC Bank of paying negotiated interest rate of 6.01% on deposits in saving bank account was not the first and only instance. ( Indian Express covered it earlier )

Its genesis goes back to 2017-18 arrangement when Mr Aditya Puri was the MD & CEO and Mr Sashidhar Jagadisan his long serving CFO.

Arrangement with MSRDC: 2017-18

In 2017, HDFC Bank approached MSRDC showing willingness to manage land acquisition payments for their project. MSRDC wanted HDFC Bank to specify a “compensation amount" that they would pay to MSRDC for getting deposits.

HDFC Branch Manager after discussing internally initiated email proposal mentioning Rs. 1.25 crores of "compensation amount" which was approved on email by the then CFO Mr Sashi Jagadisan on 24th May 2017.

MSRDC CFO negotiated with the Bank and increased “compensation amount” to Rs.1.50 cores which was further approved on email by the then CFO Mr Jagadisan on 3rd June 2017.

Payment of agreed amount of Rs. 1.50 crores was made to MSRDC and then deposits were received by the Bank in the savings account of MSRDC. Commitment to pay negotiated amount of 1.50 crores for getting deposits from MSRDC was made by HDFC Bank and approved by the then CFO, however Rs.1.50 crores pay-out was not paid directly by HDFC Bank.

Instead amount was routed through a third party vendor named “Me-Hin Consultants & Advisors, Mumbai” through four cheques issued by this vendor totalling Rs.1.50 crores to MSRDC in Sept'18 on instructions from @HDFCERGOGIC ( HDFC Group Company at the time when transactions happened and now subsidiary of HDFC Bank post merger) for whom this vendor was actually working as payment facilitator for such dubious payments which HDFC Ergo directly could not execute for obvious reasons.

This vendor is a common empanelled vendor of HDFC Ergo and HDFC Bank. The vendor acted only as a payment facilitator and routed the payment on instructions from HDFC Ergo and not by HDFC Bank.

Vendor Me-Hin did not have visibility of the purpose of this pay-out to MSRDC and simply made this payment through their cheques. This vendor used to get commission ranging between 3-5% from HDFC Ergo for acting as payment facilitator and executing such dubious payments.

HDFC Bank acts as a Corporate Agent and strategic channel partner for HDFC Ergo. Through this bancassurance model, HDFC Bank sells a wide variety of non-life insurance policies across its branches and digital platforms and earns commission income from HDFC Ergo.

These arrangements of 2017-18 and 2021-2025 are forming part of vigilance report and charges Mr Sashidhar Jagadisan on both counts. And this was in knowledge of incumbent MD CEO Aditya Puri.

@RBI @RBIsays needs to immediately seize the email archives of the then CFO and to extract those mails of dates mentioned above.

Journalism of Courage finally lost to the Corporate Power.

cc @DFS_India @PMOIndia @SmalhotraRBI @SES_Governance @IiASAdvisory @InGovern @AmitTandon_in @SandeepParekh @DeeptimanTY @MathewLiz @tavleen_singh @sadafmodak @mazoomdaar @mihirsv

[udg12 @udg12a]

@HDFC_Bank Expenditure on Printing & Stationery
INR 922.5 Cr ~3 times of ICICI Bank
What's all hidden in this? kickbacks, slush monies?
@HDFCBank_Cares @RBI @RBIsays @SmalhotraRBI @PMOIndia cc: B S R & Co. LLP
@CNBC_Awaaz @LifeAfterFI @MDahariya @IndianExpress
@nsitharamanoffc

[Madanlal Dahariya @MDahariya]

Breaking : Payment of 45 crores made by @HDFC_Bank to MSRDC through their marketing vendors in 2022-25 was not the first and only instance.

The arrangement started in 2017-18 when Mr Aditya Puri was the MD-CEO

In 2018, HDFC Bank paid a commission of 1.50 crores to MSRDC for receiving deposits in their savings account. This payment of 1.50 crores to MSRDC was approved by the then CFO Mr Sashi Jagdishan in June 2017.

This 1.50 crores payout was not paid directly by HDFC Bank but routed through a vendor in September 2018 on the instructions of group company HDFC Ergo for whom this vendor is working as payment facilitator.

Bank commits to customer, Bank CFO approves, but Group Company pays through their vendor !! Interesting !!

It seems that Indian Express is doing a detailed follow-up story to their first one on this issue.

My sources confirm that IE reporter already sent a series of questions to HDFC Bank senior Managment and Corporate Communication Department.

This has awaken entire HDFC Bank machinery in trying to stop this story from coming out. Madhu Chibber and PR firms have been given free hand and resource to handle this.

Apparently, MD Mr Sashi Jagdishan had also rushed to Delhi and personally using his resources and contacts and putting pressure on Indian Express management to stop publication of this story.

Will @IndianExpress succumb?

I doubt. But let’s see, who wins “Corporate Money Power” or “Journalism of Courage”.

cc @RBIsays @RBI @DFS_India @anantgoenka @rajkamaljha @IiASAdvisory @SES_Governance @InGovern @reachShriram @AmitTandon_in @SandeepParekh @PMOIndia @SmalhotraRBI @sheela2010

[udg12 @udg12a]

@MDahariya @wilsonsonsini @Cravath @HDFC_Bank share price
11-JUN-21: 743.18
8-JUN-26: 738.65
Why board is trying to shield Mr Sashidhar Jagdishan?
tottering stock price, many ethics & compliance issues, alleged bribery scandals..
time board shows the door
@RBI @RBIsays @PMOIndia @LifeAfterFI @namratagannu @wef

[udg12 @udg12a]

@sumitakale @prajpanshikar @LifeAfterFI @suchetadalal @Dev_Fadnavis @mieknathshinde @HDFC_Bank @RBI @DFS_India @MSRDC_official @HDFC_Bank @HDFCBank_Cares
this time more damning & utterly disgraceful details
@Dev_Fadnavis @mieknathshinde @RBI @RBIsays @DFS_India @PMOIndia
@sumitakale @prajpanshikar @namratagannu @LifeAfterFI @suchetadalal @VijayKumbhar62 @MDahariya @IndianExpress @wef

[udg12 @udg12a]

alleged bribery scandals & names in newspapers
1st time: Lilavati Hosp
2nd time: MSRDC, HDFC Bank Pashan branch this time it is more direct, visible & at our doorstep
@sumitakale @prajpanshikar @LifeAfterFI @suchetadalal
@Dev_Fadnavis @mieknathshinde @HDFC_Bank @RBI @DFS_India

[Madanlal Dahariya @MDahariya]

MSRDC Bank account involved here are 1) MSRDC Infrastructure Projects Ltd ( 501000438856041 ) and 2) MSRDC Ltd Virar Alibhag ( Alibag ) Project. ( A/c No 50100499442121 ) both in Churchgate Branch, Mumbai. Vendors are HUB9M Solutions A/c no 5750000168082 n Top Gear Service Providers A/c no 0107235000416, one in Axis Bank 923020072246157 through whom the kickbacks camouflaged as road safety project was routed to MSRDC Ltd. Hope the @RBI @RBIsays SSM n the DBS team ask for the all statements of last three years n do a forensic audit. In similar fashion one phoney software firm account in Pashan branch Pune was opened up to route kickbacks for high value FD from PMRDA. Here it was shown as software purchase ( which is intangible ) Hope the @HDFC_Bank vigilance team ask for the software details its applicability n were is it downloaded in Bank IT system. cc @SmalhotraRBI @PMOIndia @DFS_India

[udg12 @udg12a]

May2023->May2026 PMC on rampant tree cutting spree
in violation of laws & procedures
Punekars come one come all
Attend public hearing
@SunetraA_Pawar @mohol_murlidhar @navalMH @PMCMCO @PMOIndia @Medha_kulkarni @Dev_Fadnavis
@PuneRivers @ChaloPmc @VTBKS_Pune @moefcc @wef
@RSSorg

[Pune Pulse @pulse_pune]

Read: https://t.co/xOKZ9cvQ4a

#ChipkoAndolan #NGT #RFD #RFDProject #RiverFrontDevelopmentproject

[udg12 @udg12a]

@MDahariya @LifeAfterFI @suchetadalal @HDFC_Bank @wef
There was unwritten rule in the MNC where I had worked, that if someone's name (from Sr Mgmt) appeared in newspapers in bad light his/her limb would be cut (ie asked to go)
& the rule came from CEO of family run American MNC.

[udg12 @udg12a]

@MDahariya @TrilegalLaw The day the name of HDFC Bank MD & CEO Mr Sashidhar Jagdishan appeared in newspapers in alleged bribery case relating to complaint filed by the Lilavati Trust accusing Mr.Jagdishan of allegedly accepting Rs 2.05 crore in bribes from a former trustee, he should have stepped down.

[udg12 @udg12a]

@MDahariya @TrilegalLaw The day the name of HDFC Bank MD & CEO Mr Sashidhar Jagdishan appeared in newspapers in alleged bribery case relating to complaint filed by the Lilavati Trust accusing Mr.Jagdishan of allegedly accepting Rs 2.05 crore in bribes from a former trustee, he should have stepped down.

[udg12 @udg12a]

@MDahariya @HDFC_Bank Q1: How HDFC Bank's CSR pool was used to fund NGOs of wives of top honchos of HDFC Bank?
Q2: How HDFC Bank could keep CERSAI charge (hold) on my property in CERSAI Register (RBI's records) for full ten years from date of complete repayment of hsg loan?
@LifeAfterFI @suchetadalal

[udg12 @udg12a]

who's the chief architect of this mess & why there's hush hush silence?
@ChDadaPatil @mohol_murlidhar @Medha_kulkarni @Dev_Fadnavis @CMOMaharashtra @RSSorg
@PMOIndia @rashtrapatibhvn
@SVYadwadkar @sushmadate @sumitakale @prajpanshikar @MulaMutha @aparanjape @godbole_shilpa @wef

[Pune Mirror @ThePuneMirror]

Pune Municipal Corporation's ambitious 44-kilometre riverfront development project has come under serious scrutiny after the state government ordered a joint inquiry by the PMC, Water Resources Department, and Maharashtra Pollution Control Board into alleged violations of environmental clearance conditions. Environmental activist Sarang Yadwadkar has accused the civic body of narrowing the river channel at several stretches, potentially reducing its flood-carrying capacity and increasing the risk of urban flooding — a direct violation of the Water Resources Department's 2018 circular that prohibits altering the river's cross-section. Yadwadkar also alleges that the flood data used by project consultants is several times lower than scientific assessments by the Maharashtra Engineering Research Institute, warning that the combination of a narrowed river channel and underestimated flood levels could push Pune toward a preventable urban disaster. The state has directed that the complainant be included in the inspection process, signalling that the allegations have been taken seriously at the highest level.

#PuneRiverfront #PuneMunicipalCorporation #EnvironmentalViolation #PuneNews #SavePuneRivers

[udg12 @udg12a]

@BalwadkarAmol @ChandereSpeaks @MDNagpure
@mohol_murlidhar @SidShirole @ChDadaPatil @Dev_Fadnavis @RSSorg @PMCMCO @navalMH

"Most corporators in Pune are crore-patis & irrespective of parties, they have made the corporation a family business !"

and how?
add PMC Officials.

@wef

[Tehseen Poonawalla Official 🇮🇳 @tehseenp]

One rain & my Pune was flooded! What is destroying my beautiful Pune? The corruption & 3rd rate governance! Most corporators in Pune are crore-patis & irrespective of parties, they have made the corporation a family business ! My views on my beloved Pune with @VishalBhargava5

[udg12 @udg12a]

@PMCMCO @navalMH @mohol_murlidhar @SidShirole
@Medha_kulkarni @Dev_Fadnavis @RSSorg
Look how a backyard of Fergusson College Pune, well known alcross India and where Swatantryaveer Savarkar spent some of his years, looks like.
@sushmadate @sumitakale @aparanjape @MulaMutha @wef

[Prajakta Divekar @prajpanshikar]

This is unacceptable!! Is this how cities in one of the “fastest growing economies” should look?? @navalMH @CMOMaharashtra @mohol_murlidhar @SwachhBharatGov @mieknathshinde @MAHA_UDD @AUThackeray

[udg12 @udg12a]

@PMCMCO @navalMH @BalwadkarAmol @ChandereSpeaks @mohol_murlidhar @RSSorg
rampant illegal plotting, fencing, पत्रे लावणे, building structures on as much as 30% Hill Slopes of Baner hills inside BD zone opp quarry
टेकडीची लचकेतोड!
@sushmadate @sumitakale @prajpanshikar @pushkar_k09

[udg12 @udg12a]

@MDahariya @arijitbarman76 @HDFC_Bank @RBI @RBIsays Sasi Jagdishan must go for the lack of tight supervision & many governance issues
Board level
Misselling ATS Tier1 bonds
Funding NGOs of wives of top Execs from CSR
etc
Op level
Keeping CERSAI charges for 10 years
Charging excessive brokerage
etc
@LifeAfterFI @suchetadalal @wef

[udg12 @udg12a]

@PMCMCO @navalMH @mohol_murlidhar @ChDadaPatil @Medha_kulkarni @RSSorg @sushmadate @sumitakale @prajpanshikar @AreaPashan @pushkar_k09 @wef @bavdhancitizens @bplrvs @RCPKothrud @TOIPune @Matapune @moefcc @Dev_Fadnavis @bwfpune @SakalMediaNews @navalMH @PMCMCO @MAHA_UDD @mohol_murlidhar @RSSorg
So it is pvt plot! Legal or illegal? since on HTHS?
This plotowner who has encroached upon ~40% Hill Slope states that strict action will be taken against those who encroach/tresspass. What an irony! @wef
📍 Opp VTP Solitaire 9

[udg12 @udg12a]

@PMCMCO @navalMH @BalwadkarAmol @mohol_murlidhar @ChDadaPatil @Medha_kulkarni @RSSorg
is this plotting/fencing on Baner Hills hill slope approved by PMC ,or illegal? ही तर बाणेर टेकडीची लचकेतोड. त्वरित कारवाई करा.
@sushmadate @sumitakale @prajpanshikar @AreaPashan @pushkar_k09

[udg12 @udg12a]

+1
Pune RFD
Listless Mula-Mutha & the man who killed her soul
@mohol_murlidhar @Medha_kulkarni @Dev_Fadnavis @RSSorg @PMOIndia @rashtrapatibhvn
@sushmadate @sumitakale @prajpanshikar @PKarve_Samuchit @MulaMutha @CR_JICAIndia @pulse_pune @PuneRivers @LifeAfterFI
@ultra__sonic

[Civic Opposition of India @CivicOp_india]

Bimal Patel is building everything:

Kashi Vishwanath
Parliament
Kartavya Path
Central Vista
IIM Ahmedabad new campus
Sabarmati Riverfront
Gujarat High Court
Gandhi Ashram redevelopment
Mumbai Eastern Waterfront
And what not…

He is creating ugly, soulless red stone marriage halls with barely any green cover!

And now this Central Secretariat complex as part of Central Vista.

The only quality Bimal Patel seems to have is that he is from Gujarat!

[udg12 @udg12a]

@navalMH @ChDadaPatil @Medha_kulkarni @mohol_murlidhar @BalwadkarAmol
Tell us why Baner; Pashan; Aundh etc., which were tony areas of Pune, have become bhakas; kangal; and full of filth; squalor; and unkempt today?
@AreaPashan @parisarpune @PMCPune @PMCMCO @ChandereSpeaks @wef

[udg12 @udg12a]

@BalwadkarAmol
Very often, 100%, all the time:
Full of filth, squalor, dry & wet rada roda
The Kode 2-Kumar Sahwas Rd, right side
Kumar Sahwas-Livience Aleenta-Dattamandir Chowk Rd, right side
Magnolia Apt Ln, both sides
Vighnaharta Chowk-Abhinav College-Sus Bridge Rd, left side

[udg12 @udg12a]

@BalwadkarAmol
Very often, 100%, all the time:
Full of filth, squalor, dry & wet rada roda
The Kode 2-Kumar Sahwas Rd, right side
Kumar Sahwas-Livience Aleenta-Dattamandir Chowk Rd, right side
Magnolia Apt Ln, both sides
Vighnaharta Chowk-Abhinav College-Sus Bridge Rd, left side

[PMC Care @PMCPune]

We want to hear from you!

Q. How often do you see unattended garbage dumps or garbage piles near your area?

Comment below:
NEVER / RARELY – if your area stays clean and clear!
OFTEN / VERY OFTEN – if you see frequent garbage piles nearby.

Your feedback helps us identify "black spots" and ensures 100% cleanliness across every lane. Let’s make Pune cleaner together!

#CleanPune #SwachhSurvekshan #punecity #PublicFeedback #MyCityMyResponsibility

[udg12 @udg12a]

@mohol_murlidhar @Dev_Fadnavis @RSSorg @PMOIndia @rashtrapatibhvn @sushmadate @sumitakale @prajpanshikar @htTweets @wef @PuneRivers @VTBKS_Pune @ChaloPmc @ForOikos @parisarpune @AreaPashan @PuneIntCentre @PunePPF @punekarnews @mohol_murlidhar @Dev_Fadnavis @RSSorg @PMOIndia @rashtrapatibhvn
Jakarta shifting
Tehran may also shift
Reason? overexploitation of groundwater & land subsidance
Pune? for whom bells toll?
@AUThackeray @SVYadwadkar @sushmadate @sumitakale @prajpanshikar @CR_JICAIndia @htTweets

[udg12 @udg12a]

@mohol_murlidhar @Dev_Fadnavis @RSSorg @PMOIndia @rashtrapatibhvn
See top 3 long term risks to Global Economy in World Economic Forum's Global Risks Report 2026
Don't these sound too familiar Punekars, yet you turning a blind eye?
@sushmadate @sumitakale @prajpanshikar @htTweets

[sushma date @sushmadate]

My heart breaks over what PMC and its political backers have done to Pune's river.
Yes, people should be connected to rivers - but like this?!

A better version of a riverside recreational space would have been something like this. This is a riverside park in Taipei where
1. Natural materials have been used (not concrete),
2. Flood plains have been preserved
3. Habitats created for birds, insects and small fauna

This would have come at a fraction of the cost of Pune's RFD, is aesthetically more appealing, and could have been designed to suit our native ecosystem with the help of riverine ecologists.
🧵