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IndusInd Bank's subsidiary defers review of decision to relieve top 2 execs

Last week, the bank had said that the two top executives of BFIL cannot be relieved from their positions until the review of certain transactions at the company is completed

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3 min read Last Updated : Nov 30 2021 | 12:54 AM IST

Private sector lender IndusInd Bank on Monday said two of the top executives of its subsidiary, Bharat Financial Inclusion (BFIL), have tendered their resignation but have offered their assistance in the ongoing review of certain transactions that happened at the company, which resulted in the bank appointing an international audit firm to conduct an independent review.

Having said that, the bank informed the stock exchanges that the board of BFIL has put off the consideration of the decision to relieve these two executives off their positions until the ongoing review of certain transactions at Bharat Financial Inclusion is completed.

In an exchange filing, the bank said, “Mr Shalabh Saxena and Mr Ashish Damani, currently employed with BFIL in the capacity of the Managing Director & CEO and the Executive Director & CFO, respectively, have tendered their resignations pursuant to emails addressed to the Chairman of the Board of BFIL on Nove