SEBI bans former IndusInd Financial institution CEO Sumant Kathpalia, 4 others from securities market
Might 28, 2025 09:10 PM IST
IndusInd Financial institution executives are accused of buying and selling in IndusInd Financial institution shares whereas in possession of unpublished price-sensitive data (UPSI)
Markets regulator Sebi on Wednesday barred former Chief Govt Officer of IndusInd Financial institution, Sumant Kathpalia, and 4 others from accessing the securities markets, in reference to an alleged case of insider buying and selling within the financial institution’s shares.
Additionally, the regulator has impounded ₹19.78 crore collectively from the 5 people, in accordance with an interim order handed by Sebi.
The opposite officers restrained by Sebi are Arun Khurana, Govt Director and Deputy CEO of the financial institution on the time of the alleged violation; Sushant Sourav, Head- Treasury Operations; Rohan Jathanna, Head- GMG Operations and Anil Marco Rao, Chief Administrative Officer (CAO)- Client Banking Operations.
These senior executives are accused of buying and selling in IndusInd Financial institution shares whereas in possession of unpublished price-sensitive data (UPSI), a breach of insider buying and selling rules.
The case stems from a Grasp Course issued by the Reserve Financial institution of India (RBI), which had a major influence on IndusInd Financial institution’s operations. The financial institution’s inside crew had evaluated the monetary implications of the directive and possessed private data on the time.
Sebi’s investigation discovered that the 5 people executed trades earlier than this delicate data was made public, utilizing their entry to confidential insights for potential private achieve.
Accordingly, SEBI mentioned: “All of the Noticees, viz. Noticee Nos. 1 to five, are hereby restrained from shopping for, promoting or dealing in securities, both straight or not directly, in any method in any way, till additional orders.”
