IndusInd Bank wants ex-CEO and execs to return bonuses after big losses
IndusInd Bank is asking its former CEO Sumant Kathpalia, former deputy managing director Arun Khurana, and former chief financial officer Gobind Jain to give back their bonuses.
Internal checks found accounting issues that caused about ₹2,000 crore in losses from internal derivative trades.
Even though police didn't find anything criminal, an official familiar with the developments says these leaders knew about the problems but still gained from inflated results.
What else is going on?
The bank's move follows RBI rules that let them recover bonuses if there's misconduct, with the payback likely covering the last two to three years.
Current CEO Rajiv Anand highlighted how important accountability is and said they're working closely with authorities.
Meanwhile, market regulator SEBI is also investigating insider trading claims against some of these former execs, adding more pressure for answers.