Mumbai: HDFC Bank has appointed domestic law firms Wadia Ghandy and Trilegal, along with a marquee US-based firm, to review the circumstances around former chairman Atanu Chakraborty's abrupt resignation, two people familiar with the development said.
The scope of the review includes a detailed examination of board meeting video recordings, minutes and agendas over the past two years, to ascertain whether any concerns relating to unethical practices or governance issues were raised by the former chairman during his tenure, they said.
It will also cover all whistle-blower letters received and escalated to the board during this period, to assess whether they raised substantive concerns and whether adequate action was taken in response, the people said.
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The law firms may interview current board members and senior management to determine whether anyone has information pertaining to unethical practices or governance issues at the bank, the people said.
HDFC Bank, Wadia Ghandy and Trilegal did not respond to ET's emails seeking comment.
The bank in a stock exchange filing on Tuesday said it appointed domestic and international law firms to review Chakraborty's resignation. Without naming the law firms, the bank said it has asked them to submit their reports within a reasonable timeframe.
HDFC Bank in a separate statement also said the appointment was a proactive measure to ensure an objective and...
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