Insider deal detected: SEBI takes strict action against 5 senior executives named in the Indusind Bank case
Capital market regulator SEBI whipped five executives over alleged insider trading in Indusind Bank Stock. These people use undisclosed price-sensitive information to unload a certain number of lenders’ shares to illegally avoid impending losses, valued at an estimated Rs 19.78 crore, according to an interim order issued by market regulators. They delayed this information until the stock lost more than 27% of its value.
Sebi’s strict action against 5 officials
Regulators have frozen executives’ bank and transaction accounts, forbidding them from being unable to perform in various transactions on Dalar Street.
According to the order, price sensitive information is related to the period between December 4, 2023 and March 10, 2025.
The above information was released in the public sector on March 10, 2025, and the next day it went from Rs 900.6 to Rs 656 per share, triggering 27.2% of the stock. Preliminary investigations found that the five people sold a large amount of stock before the public announcement.
5 Indusind Bank executives named in internal transaction cases
Former IndusInd Deputy CEO Arun Khurana has a stock of 3,48,500 shares, with an average of Rs 5.299 crore and an average of Rs 1,520 per share.
Former MD and CEO Sumant Kathpalia sold 1,25,000 shares worth Rs 1,917 crore, at Rs 1,534 respectively.
Sushant Sourav, head of Treasury business at IndusInd Bank, sold 2,065 shares for Rs 2.6 lakh, while Rohan Jathanna, head of GMG business, sold shares worth Rs 2.5 lakh.
Anil Marco Rao, chief executive officer of consumer banking for private sector lenders, sold 1,000 units, totaling Rs 1.4 lakh, an average of Rs 1,451 per unit.
All defendants were ordered to disclose information about their property within the next 15 days, according to the former party order.
Park the retained fixed deposit in Rs 1978 crore in the fixed deposit in the name of Sebi
Market regulators have ordered the deposit of Rs 1,977.8 billion in fixed deposits with lien.
According to SEBI, the investigation is underway and the order will remain in effect until further instructions.
