IndusInd Bank has recently issued a clarification regarding news reports that suggested the bank was facing a fresh probe. The bank has firmly stated that these reports are not connected to any new investigation and emphasized its compliance with all required disclosures.

Key Points of Clarification

• No New Investigation: IndusInd Bank has confirmed that there is no new investigation being conducted.
• Accounting Irregularity: The bank addressed a Rs 255.00 crore accounting irregularity mentioned in news reports.
• Previous Findings: This irregularity was part of an investigation report submitted by an independent external agency in April 2022.
• Financial Statement Reflection: The impact of these accounting discrepancies has been appropriately reflected in the bank's audited financial statements for FY 2021-22, disclosed on May 21, 2022.

Disclosure Compliance

IndusInd Bank has reiterated its commitment to transparency and regulatory compliance. The bank stated that it has made all necessary disclosures regarding the mentioned accounting irregularities and will continue to comply with its obligations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Official Statement

In its official statement to the stock exchanges, IndusInd Bank clarified:

"We would like to clarify that the accounting irregularity of INR 255 Crores as mentioned in the news report is not part of any new investigation being conducted by the Bank and that these findings were part of the investigation report submitted by the independent external agency to the Bank in April 2022."

The bank's prompt clarification aims to address any concerns that may have arisen from the recent news reports and to maintain transparency with its stakeholders. IndusInd Bank continues to operate under the scrutiny of regulatory bodies and remains committed to upholding high standards of corporate governance and financial reporting.

Investors and stakeholders are advised to refer to official communications from the bank and regulatory filings for accurate and up-to-date information regarding IndusInd Bank's financial position and operations.

The Mumbai Police Economic Offences Wing (EOW) has uncovered a new dimension in the ongoing IndusInd Bank case, investigating a freshly discovered ₹258 crore entry. This development comes in addition to the previously reported ₹1,950 crore accounting mismatch in the bank's derivatives portfolio.

Key Findings

• A Grant Thornton (GT) audit report covering 2015-2024 identified the ₹258 crore figure.
• The amount was allegedly used selectively to boost the bank's net interest income during quarters when results fell short of market expectations.
• The original ₹1,950 crore mismatch appears to be an accounting error, with no evidence of criminality found so far.

Investigation Details

EOW officials have provided insights into the ongoing investigation:

• The ₹1,950 crore mismatch reportedly arose from different accounting methods used by the bank's Asset-Liability Management desk and treasury desk for hedging.
• The agency plans to re-summon former executives Sumant Kathpalia, Arun Khurana, and Gobind Jain for questioning regarding the ₹258 crore entry.
• The audit report reveals that senior management was allegedly aware of accounting discrepancies by 2023 but only informed the board in March 2025.

Current Status of the Investigation

The EOW's investigation is ongoing, with a particular emphasis on determining any potential criminal aspects related to the newly discovered ₹258 crore entry. As the case unfolds, it highlights the importance of robust accounting practices and timely disclosure in the banking sector.

Investors and stakeholders of IndusInd Bank will likely be watching closely as more details emerge from this investigation.