Private sector lender HDFC Bank does not intend to file legal suit or seek damages against its former non-executive chairman Atanu Chakraborty following his strongly worded resignation letter in March, sources say.
The lender is instead focused on improving its third-party sales practises and enhancing governance standards, they told NDTV Profit.
The bank has till now taken action against three senior executives by suspending them and penalised 12 other employees for their role in alleged mis-selling of AT-1 bonds in 2018-19.
Following Chakraborty's resignation as certain practises at the bank were not in line with his internal values, the lender appointed external legal firms, who sources say, are assessing the minutes of the meetings when AT-1 bond issue was flagged and finding whether the lender took corrective actions and held people accountable in a timely manner.
HDFC Bank was in September 2025 barred from soliciting or conducting any business with new clients.
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