ADVERTISEMENTIn his resignation letter, Chakraborty cited "certain happenings and practices within the bank" that he said were "not in congruence" with his personal values and ethics. Also Read Law firms to review chairman exit at HDFC Bank amid governance concernsHe did not elaborate. India's rules for listed companies require independent directors to assess the quality and timeliness of information flow between management and the board. Earlier this week, SEBI Chairman Tuhin Kanta Pandey, without commenting on individual cases, said independent directors must follow the code of conduct set ​out in regulations. HDFC Bank said on Tuesday it had appointed external law firms to independently assess the concerns raised in the resignation letter.

Source: The Telegraph March 26, 2026 11:15 UTC