HDFC Board Meets on Chakraborty Concerns

HDFC Bank's board is scheduled to meet on June 18, 2026, to review the conclusions of legal firms regarding concerns articulated by former chairman Atanu Chakraborty in his resignation letter. Preliminary findings from these firms suggest that the issues flagged by Chakraborty do not constitute governance irregularities or ethical breaches.

In parallel, the board will consider requesting a three-month extension for the interim part-time chairman, Keki Mistry. Mistry's current term is set to expire on June 18, 2026, and the bank awaits approval from the Reserve Bank of India for the requested extension.

The legal review was initiated following Chakraborty's resignation on March 18, 2026, where he cited deviations incongruent with his ethical standards. The firms engaged in the review examined board meeting records, whistleblower letters, and other relevant documents from the past two years.

Members of the bank's audit committee convened recently to discuss the preliminary findings before they are presented to the full board. The outcome of the board meeting and the RBI's decision on Mistry's extension will shape the bank's future leadership.