HDFC Bank Board To Review Law Firms' Findings On Former Chairman's Concerns

HDFC Bank's board is scheduled to review findings from law firms Trilegal and Wadia Ghandy & Co, which examined concerns raised by former Chairman Atanu Chakraborty in his March resignation letter. The board will also consider a three-month extension for interim chairman Keki Mistry.

The law firms reportedly did not find governance or ethical issues of the nature suggested by Chakraborty's departure. The RBI had earlier stated it found no material concerns regarding the bank's financial soundness or governance after his resignation. HDFC Bank shares rose 3 percent following positive sentiment around the review outcome.