Mistry defends HDFC’s governance standards after part-time chair Atanu Chakraborty’s exit

admin — Sat, 11 Jul 2026 23:18:00 +0000

2 min readMumbaiJul 12, 2026 04:48 AM IST

HDFC Bank’s part-time Chairman Keki Mistry has mounted a full-scale defence of its corporate governance after the dramatic exit of former Chairman Atanu Chakraborty triggered speculation on the bank’s governance standards.

Mistry assured shareholders that the bank remains committed to the “highest standards of transparency, accountability and oversight”, saying any matter warranting review or attention “will continue to receive careful consideration through established processes” and in the long-term interests of shareholders and other stakeholders.

“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,” Mistry said in the bank’s annual Report. He said resignation of Chakraborty as the Part-time Chairman of the bank on March 18, 2026 “led to speculation on the bank’s governance standards”.

After Chakraborty’s exit, the bank acted swiftly to announce the appointment of an interim Part-time Chairman on March 18 with the approval of the Reserve Bank of India, he said.

On June 26, HDFC Bank said external law firms, which conducted a “thorough and objective review” of its former Chairman Chakraborty’s statement about “certain practices and happenings” in the bank, reported that Chakraborty’s statement and its implications were “not substantiated”.

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Mistry defends HDFC’s governance standards after part-time chair Atanu Chakraborty’s exit