₹1,959.98 Crore Impact: Arun Khurana Steps Down As Indusind Bank Deputy Ceo With Immediate Effect

IndusInd Bank announced resignation of Deputy CEO Arun Khurana pursuing nan disclosure of accounting discrepancies leading to a ₹1,959.98 crore effect connected nan bank’s earnings. 

In ray of nan caller accounting issues related to soul derivative trades, "I having oversight of nan Treasury Front agency function, arsenic nan full clip director, Deputy CEO and a portion of elder guidance of nan bank, hereby resign, effective immediately," Khurana wrote successful a missive to IndusInd Bank's committee that was included successful a banal marketplace filing. 

“Pursuant to Regulation 30, Schedule III, Part A, Para A(7C) and different applicable provisions of nan SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 arsenic amended, we hereby pass that Mr. Arun Khurana, Whole-time Director (Executive Director) & Dy. CEO, Key Managerial Personnel of nan Bank, has by his missive dated April 28, 2025, resigned pinch contiguous effect,” nan filing read. 

IndusInd Bank, done an charismatic disclosure to banal exchanges connected April 27, confirmed that an independent master firm, appointed by its Board of Directors, submitted its investigative study connected April 26. The firm’s study validated nan cumulative adverse accounting effect of ₹1,959.98 crore connected nan bank's Profit and Loss relationship arsenic of March 31, 2025, intimately aligning pinch nan fig earlier disclosed connected April 15. 

According to nan report, nan discrepancies were chiefly stemmed from nan incorrect accounting of soul derivative trades particularly during early terminations. These practices led to nan premature nickname of notional profits, marking nan main guidelines origin of nan financial misstatements. It besides evaluated nan roles and actions of cardinal labor involved. 

"The committee is taking basal steps to hole accountability of nan persons responsible for these lapses and re-align roles and responsibilities of elder management," nan slope informed nan bourses. 

IndusInd Bank has already discontinued each soul derivative trading activities from April 1, 2024. Furthermore, nan resultant financial effect will beryllium duly reflected successful nan bank’s FY24-25 financial statements, alongside measures to fortify soul controls. 

Published on: Apr 28, 2025 9:56 PM IST