Overview
- IndusInd Bank said it received an SFIO letter dated December 23 initiating a Section 212 investigation and seeking information.
- The probe covers internal derivative trades, unsubstantiated balances in ‘other assets’ and ‘other liabilities’, and microfinance interest and fee income.
- Auditors flagged a cumulative adverse impact of about Rs 1,959.98 crore to profit and loss as of March 31, 2025, while an external agency estimated a Rs 1,979 crore hit to net worth.
- The bank reported these matters to the SFIO on June 2 under RBI fraud‑reporting directions and says it is cooperating with the inquiry.
- Reports said the Corporate Affairs Ministry directed the case to SFIO, the Mumbai Police EOW is set to close a preliminary enquiry without finding fund diversion, and the stock ended slightly lower and is down nearly 12% this year.