India, March 19 -- Keki Mistry has sought to calm nerves of investors to employees and customers of HDFC Bank Ltd. alike after the sudden resignation of part-time chairman Atanu Chakraborty over "ethical concerns".

"None of us are aware of the issues raised by Chakraborty in the letter," said Mistry, who served as chief executive of Housing Development Finance Corp. Ltd. (HDFC Ltd.) before the mega HDFC Bank merger in 2023. "There's no power struggle within the bank."

HDFC Bank shares slid 8.7% in pre-open trade on Thursday, after India's largest private-sector lender said its part-time chairman Atanu Chakraborty resigned citing differences over "values and ethics".

"Certain happenings and practices within the bank, that I have observe...