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HDFC Bank's board review has cleared allegations, but former chairman Atanu Chakraborty disputes the process, claiming the board ignored queries regarding the legal review after his resignation. The controversy surrounds the bank's internal governance.
Investors were left bewildered by the sudden resignation of HDFC Bank chairman Atanu Chakraborty, which triggered a 5% drop in the bank's shares.
Keki Mistry appointed as interim part time Chairman for three months
Former HDFC Bank chairman Atanu Chakraborty has disputed MD Sashidhar Jagdishan's claims regarding staff action on high-risk bond sales, asserting his resignation stemmed from 'deeper governance issues' and a lack of alignment on ethics and values.
Keki Mistry, the new HDFC Bank chairman following Atanu Chakraborty's resignation, has reassured stakeholders of the bank's commitment and shared insights into his four decades of banking experience.
India's Securities and Exchange Board (SEBI) has initiated a review of the resignation of Atanu Chakraborty, the former Chairman of HDFC Bank, who reportedly quit due to a power struggle and clash of styles with CEO Sashidhar Jagdishan.
The abrupt resignation of Atanu Chakraborty as HDFC Bank's part-time chairman sent shockwaves through Dalal Street, prompting HDFC board members to assert the bank's corporate governance remains robust.