HDFC Bank taps external law firms to review Chakraborty resignation; clarifies Dubai staff removals
HDFC Bank taps external law firms to review Chakraborty resignation; clarifies Dubai staff removals
HDFC Bank engages external law firms to probe Atanu Chakraborty's resignation and explains the removal of three Dubai-based staff linked to a DFSA matter.
HDFC Bank has approved the appointment of external law firms, both domestic and international, to review the resignation letter of former part-time chairman and independent director Atanu Chakraborty, following his sudden exit. This move comes as the bank emphasized that Chakraborty did not mention any happenings or practices inconsistent with his personal values and ethics.
At a board meeting on March 23, 2026, the bank said the external law firms have been directed to provide their report within a reasonable period of time, highlighting the board’s intent to reinforce robust governance standards.
Separately, the bank clarified the removal of three employees in connection with a regulatory matter linked to its Dubai operations. This refers to the earlier intimation made to stock exchanges about a decision notice from the Dubai Financial Services Authority (DFSA) received by the bank’s Dubai International Financial Centre branch. The Governance, Nomination and Remuneration Committee directed an internal investigation under the bank’s Conduct Regulations and submitted its report to the Disciplinary Committee for appropriate action.
