Sebi has corrected its Could 28 order on IndusInd Financial institution to make clear that KPMG was appointed via an ‘engagement observe’ signed by CFO and executives Arun Khurana and Sumant Kathpalia, not via a ‘board observe’ as earlier said. The unique order steered that the board was conscious of the discrepancies in derivatives valuation.
Mumbai, Reserve Financial institution Governor Sanjay Malhotra on Friday stated fraud-hit IndusInd Financial institution is “doing properly” now, and added that the resignation of MD and CEO Sumant Kathpalia ought to be seen as a “ok” step from an accountability perspective. The RBI additionally stated the financial institution has complied with all of the regulatory…
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executives are accused of buying and selling in IndusInd Financial institution shares whereas in possession of unpublished price-sensitive data (UPSI) Markets regulator Sebi on Wednesday barred former Chief Govt Officer of IndusInd Financial institution, Sumant Kathpalia, and 4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…
Mumbai: Indian inventory markets witnessed a stellar rally within the week ended Might 16, delivering over 4 per cent returns to traders and recording the perfect weekly efficiency because the week ending October 4, 2024. The benchmark Nifty surged by 1,011.80 factors or 4.21 per cent – marking its strongest weekly achieve in additional than…
By Aditya Kalra and Siddhi Nayak NEW DELHI/MUMBAI -A forensic evaluate by audit and advisory agency Grant Thornton discovered two executives of India’s IndusInd Financial institution traded in its shares whereas they have been conscious of accounting lapses on the financial institution however earlier than these have been made public, a doc reviewed by Reuters…
New Delhi: IndusInd Financial institution introduced on Tuesday that its Managing Director and CEO Sumant Kathpalia has resigned from his submit in connections with the derivatives accounting lapse that has eroded the personal sector financial institution’s web price. The event comes a day after Deputy CEO Arun Khurana give up after accounting discrepancies have been…
Amid the continuing fiasco, the IndusInd Financial institution on Tuesday introduced the resignation of Sumant Kathpalia from the place of Managing Director (MD) and chief government officer (CEO) with impact from the shut of working hours on April 29, 2025. “We hereby inform that Mr. Sumant Kathpalia (DIN:01054434), Managing Director & CEO, Key Managerial Personnel…
Apr 28, 2025 10:01 PM IST Arun Khurana headed the worldwide markets division of the financial institution, which included the derivatives portfolio. India’s IndusInd Financial institution on Monday introduced the resignation of deputy CEO Arun Khurana, weeks after the personal lender disclosed accounting lapses in its derivatives portfolio that triggered a rout in its shares….
PwC, a prime skilled companies agency, has wrapped up its accounting assessment of IndusInd Financial institution’s derivatives portfolio and submitted draft findings to the lender’s administration, in keeping with two folks with direct data of the matter. Financial institution officers had been learning the draft findings and will share their observations with PwC, stated the…
Non-public Lender IndusInd Financial institution has refuted latest media studies claiming that its CEO and Deputy CEO are set to step down, calling the data “factually incorrect” and “completely inaccurate.” In an official assertion issued on Friday, the financial institution mentioned, “We want to make clear that the latest media studies relating to the tenure…
