External review clears HDFC Bank of ex-chairman’s concerns
An independent legal review commissioned by HDFC Bank has cleared the institution of ethical concerns raised by its former chairman, Atanu Chakraborty. The review, conducted by two external law firms, found no evidence to support the allegations made during his resignation.
Why it matters
The findings help restore investor confidence in the governance and ethical standards of India's second-largest lender.
HDFC Bank said an independent legal review conducted by two external law firms found no evidence to substantiate concerns raised by former chairman Atanu Chakraborty in his resignation letter or subsequent public statements.
The report neutrally summarizes the bank's findings and the context of the resignation without taking a side.
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