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Anupam Mittal talks about fraud charges against HDFC CEO
Shaadi.com CEO Anupam Mittal has opened up about the financial fraud allegations against HDFC Bank CEO Sashidhar Jagdishan.
Anupam Mittal opens up about the HDFC bank scam
“HDFC’s iconic CEO is now under an FIR for a ₹2.05 crore 'cash diary' payout,” Mittal wrote on LinkedIn.
He further clarified that he is not sure about the allegations.
“But I do know this - the media’s silence is loud,” Mittal remarked. “No viral threads. No breaking-news countdowns. No public outrage.”
He said that the incident was just mentioned in a press release, and nothing more happened.
The Shark Tank judge next asked what the situation would have been if the person involved were a startup founder.
“Now imagine if this were a startup founder,” Mittal wrote on LinkedIn. “Forget ₹2 crore - even an unpaid GST notice can trigger full-blown cancel culture.”
He criticised the “double standard”, saying if it is a legacy institution, it’s “under legal review.” However, when it’s a startup, it’s “fraud, greed, scandal” even before facts are established.
Mittal admitted that not every founder is innocent. But he claimed that not every allegation is a scam.
Startup founders are 'default' scapegoats, claims Anupam Mittal
According to the entrepreneur, the founders have become the default “bakras” of the business landscape because they are “young, public-facing, building in real-time and the easiest to pin blame on when things go sideways”.
The Shaadi.com CEO said board members and investors are never in headlines when a startup collapses. The founder’s “greed” is always the topic.
He further elaborated that he does not know if the allegations in the HDFC case are true but he knows if it were a startup the media would not be silent.
“If it was a startup, there’d already be 20 threads and a Netflix doc in the works,” Anupam Mittal concluded.
This post has received over 3500 likes and 225 comments within 19 hours. Many have supported Mittal's views, while some advised that startup founders should make an effort to develop trust while raising money, which premium institutions do. As a result, they have credibility in the market, which new entrepreneurs don't have.