Mumbai/IBNS, March 27 -- HDFC part-time chairman Atanu Chakraborty's sudden resignation was reportedly triggered by a power struggle with the bank's CEO, Sashidhar Jagdishan, the Financial Times reported.

Sources familiar with the matter said tensions between the two had been brewing for months over strategic disagreements, governance issues, and Jagdishan's impending reappointment.

The discord reportedly included differences over a potential sale of a minority stake to Japan's Mitsubishi UFJ Financial Group in 2024, which Jagdishan supported but Chakraborty opposed.

The disagreement reached a peak over Jagdishan's reappointment, which is pending regulatory approval. Multiple sources said Chakraborty opposed the renewal, while the majo...