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IndusInd Bank Rs 2,000-Crore Accounting Lapse: Former Officials Admit Book Adjustments
Mumbai Police’s Economic Offences Wing (EOW) has intensified its preliminary investigation into alleged Rs 2,000-crore accounting lapses at IndusInd Bank. Sources reveal that former top officials, including CEO Sumant Kathpalia, Deputy CEO Arun Khurana, and CFO Gobind Jain, admitted to making adjustments in the bank’s books.
Statements were recorded last week, with Khurana summoned again for further questioning due to his pivotal role. Investigators are examining whether these adjustments inflated the bank’s stock price, allegedly allowing insiders to profit through privileged trading.
While some former executives deny wrongdoing, employees and ex-management personnel reportedly confirmed that accounting adjustments were made in ways that influenced stock movements, drawing parallels to the Satyam scam.
The irregularities were initially flagged in the bank’s derivatives portfolio and later found in microfinance operations. The scandal led to the resignations of CEO Kathpalia and Deputy CEO Khurana in April 2025. So far, 7-8 employees and former senior officials have been questioned.
Adding to the controversy, ex-CFO Gobind Jain had written to the Prime Minister’s Office in August, alleging treasury-related manipulations worth over Rs 2,000 crore spanning nearly a decade. EOW may call the same executives for further questioning as the probe continues.
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Published: Sep 29, 2025
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