The abrupt resignation of HDFC Bank's ex-chairperson Atanu Chakraborty was a "challenging event" but corporate governance standards remain high at the lender, CEO Sashidhar Jagdishan, noted in the bank's FY26 annual report.
"Towards the end of the Financial Year 2025- 26, the Bank faced a challenging event with the resignation of Mr. Atanu Chakraborty, Part-time Chairman and Independent Director of the Bank, on March 18, 2026. The Bank moved quickly and appointed Mr. Keki Mistry as interim Part-time Chairman and Non-Independent Director of the Bank, effective March 19, 2026, with approval from RBI," Jagdishan said.
"To reinforce the robust governance standards of the Bank, the Board of Directors of the Bank took the proactive step of appointing external law firms to conduct a review regarding the statement made by Mr. Chakraborty in his resignation letter...the Bank on June 26, 2026, shared the findings of the external law firms which, in essence was that Mr. Chakraborty's statement in his resignation letter and its implications were not substantiated by the record reviewed and witness interviews...," he added.
HDFC Bank remains committed to the "highest standards of corporate governance" and continued to enhance internal frameworks and refresh key control processes through FY26, Jagdishan said. HDFC Bank's ex interim chair Keki Mistry, too, said that corporate governance remains strong at HDFC Bank.
"In my capacity as the interim Part-time Chairman of HDFC Bank, I, together with the Board of the Bank, would like to assure you that the Bank remains strongly rooted in strong corporate governance principles and values. We would like to take the opportunity to thank the regulators, especially the Reserve Bank of India for their support in ensuring an orderly transition," he said.
ALSO READ: LTM Q1 Results: Net Profit Grows 5.3 Percent, Meets Estimates
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
