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5d ago

SEBI Bans Ex-IndusInd Bank CEO and Four Officials for Insider Trading

The regulator has also impounded Rs 19.78 crore after finding that top managers sold shares using unpublished data on a Rs 1,960 crore derivative accounting discrepancy.

Sebi's investigation found that the five individuals executed trades before this sensitive information was made public, using their access to confidential insights for potential personal gain.
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Overview

  • SEBI’s interim order bars Sumant Kathpalia, Arun Khurana, Sushant Sourav, Rohan Jathanna and Anil Marco Rao from trading in the securities market.
  • Regulators seized Rs 19.78 crore of gains avoided by the executives through trades executed between December 2023 and the March 2025 disclosure.
  • Internal emails show management knew of a Rs 1,960 crore mismatch in the bank’s derivative portfolio over 15 months before the public announcement.
  • IndusInd Bank recorded a Rs 2,236 crore loss in Q4 FY25 after recognizing multiple accounting irregularities, and its shares plunged 27% on the day of disclosure.
  • ICICI Securities downgraded the stock to “Sell,” citing concerns over delayed reporting and governance flaws.