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HDFC annual report discloses Chakraborty FY26 pay
CNBC-TV18··12 Jul
HDFC Bank's FY26 annual report said former part-time Chairman Atanu Chakraborty received Rs 59 lakh in sitting fees and Rs 48.25 lakh in fixed remuneration before resigning on March 18, 2026. CEO Sashidhar Jagdishan called the exit a challenging event. A Special Committee legal review shared on June 26 said resignation letter claims were not substantiated.
Prism
What It Means For You
- If you hold HDFC Bank shares or accounts, the annual report addresses governance questions raised by a former chairman's resignation letter.
- The board commissioned an independent legal review after Atanu Chakraborty resigned on March 18, 2026.
- Interim Chairman Keki Mistry reaffirmed the lender's corporate governance standards in messages to shareholders.
What's Happening
- HDFC Bank's FY26 annual report disclosed Chakraborty received Rs 59 lakh in sitting fees and Rs 48.25 lakh in fixed remuneration.
- CEO Sashidhar Jagdishan called the resignation a challenging event and described a Special Committee review of board records.
- Findings shared on June 26 said claims in Chakraborty's resignation letter were not substantiated by records reviewed.
Governance Review After Exit
- The RBI had approved Rs 50 lakh fixed remuneration for the full year, but Chakraborty was paid proportionately until March 18.
- Domestic and international law firms examined board minutes and witness interviews covering two preceding years.
- Keki Mistry was appointed interim part-time chairman after RBI approval following the resignation.
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