Bank may freeze Lilavati accounts

Bandra’s Lilavati Hospital, a super-speciality facility, faces the risk of its services being halted with the hospital’s banker, Union Bank of India (UBI), threatening to freeze its accounts amid raging disputes between two sets of trustees.

Bandra’s Lilavati Hospital, a super-speciality facility, faces the risk of its services being halted with the hospital’s banker, Union Bank of India (UBI), threatening to freeze its accounts amid raging disputes between two sets of trustees.

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UBI has threatened to freeze the accounts of Lilavati Kirtilal Mehta Medical Trust including those of Lilavati Hospital and Research Centre, if the groups of trustees do not “decide amongst themselves and submit a joint fresh mandate for operation” within seven days of the receipt of a legal notice served by the bank.

The trustees received the notice, dated April 9, on April 13, which gives them time until Wednesday, April 20, to file the joint mandate. Bank sources said they had not received any joint mandate till date.

The bank has already frozen the fixed deposit accounts worth around Rs120 crore of the trust that runs the hospital.