HDFC Bank chairman's sudden resignation sparks investor panic. Atanu Chakraborty stepped down Wednesday citing "happenings and practices" misaligned with his ethics, sending shares down five percent. During Thursday's investor call, the new interim chairman and board members insisted no material irregularities exist, yet provided minimal detail on Chakraborty's specific concerns. Investors expressed frustration at the lack of clarity, with one noting the conference call left them no wiser than before. Corporate governance experts are now calling for an independent committee investigation and detailed disclosure. The vague reassurances from management have failed to restore market confidence, highlighting the need for transparency when senior leadership raises ethical concerns. Shareholders remain uncertain whether to trust the departing chairman's allegations or the board's denials.
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