HDFCBANK

not mulling legal action against Atanu Chakraborty, focuses on governance review: Sources

HDFC Bank has clarified that it is not considering any legal action against former chairman Atanu Chakraborty, sources familiar with the matter told ET Now. The bank said that it will focus on an internal review of issues raised in his resignation letter. While the bank is unlikely to seek damages despite the alleged reputational impact, the board has mandated external law firms to independently examine governance processes, accountability and internal controls, as part of an effort to strengthen its governance framework and oversight mechanisms