Page 8 - Indusind Bank

How IndusInd Bank's profit push and lax controls drove it into crisis

IndusInd disclosed in March accounting discrepancies in its derivatives portfolio whose impact roughly equated to an entire quarter's profits

IndusInd Bank fiasco prompts large state-run banks to tap CD market

Market sources indicated that the fiasco at IndusInd Bank may have prompted large state-owned banks to tap the CD market to raise funds for investing in IndusInd Bank's CDs

RCap lenders withdraw petition against IndusInd International at NCLAT

Lenders of debt-ridden Reliance Capital have withdrawn petition filed against IndusInd International Holdings Ltd (IIHL) before appellate tribunal NCLAT. The Committee of Creditors (CoC) of Reliance Capital has informed NCLAT that the resolution plan was completely implemented by IIHL with the transfer of complete payment amounts in terms of the resolution plan. The CoC sought permission of the National Company Law Appellate Tribunal to withdraw its appeal filed against the NCLT order, in consideration of the completion of the implementation of the resolution plan by IIHL. While allowing CoC's application for withdrawal, NCLAT noted counsel appearing for the administrator as well as IIHL had no objection towards this. "In the circumstances, the said application stands allowed. Accordingly, the appeal is disposed of as withdrawn. Pending applications, if any, are also disposed of," said a two-member bench comprising Justice Yogesh Khanna and Ajai Das Mehrotra in its order passed on

IndusInd Bank slips 3% ahead of PwC's likely report on accounting issues

Reports suggest that external auditor PwC would submit its report to IndusInd Bank's board regarding accounting discrepancies in its derivatives portfolio today

Mazagon, Paytm, IndusInd: These are top wealth creators, destroyers of FY25

After a period of being net buyers in the first half of the fiscal year, FIIs reversed their stance in the second half, unloading over ₹1.5 lakh crore worth of Indian equities

Insider trading glare on senior IndusInd Bank officials. What do rules say?

Between May 2023 and June 2024, IndusInd Bank CEO Sumant Kathpalia sold nearly 950K shares valued at approximately Rs 134 cr, while Dy CEO Arun Khurana sold 550K shares worth around Rs 82 cr

Pre-clearance seen as key defence for IndusInd Bank execs in Sebi probe

Sebi probes potential insider trading in bank's share sales

Marico, Lodha, AU SFB see high rollovers, IndusInd Bk low; check full list

Bank Nifty rollovers stood at 69.3 per cent, which was higher than the 3-month average and indicates positive sentiment at the counter, said Axis Securities report.

IndusInd Bank raises $2 billion in higher-cost bulk deposits in March

The discrepancies have led to concerns over governance at the bank and the appointment of Grant Thornton to conduct a forensic review into the accounting lapses

IndusInd Bank slips 5% ahead of accounting discrepancies report on Mar 28

External auditor PwC is likely to submit its report to IndusInd Bank's board on Friday March 28, regarding accounting discrepancies in its derivatives portfolio, PTI reported quoting sources

PwC may submit report on IndusInd's accounting discrepancies on Mar 28

External auditor PwC is likely to submit its report to IndusInd Bank's board on Friday regarding accounting discrepancies in its derivatives portfolio, sources said. As per an estimate, Rs 2,100 crore discrepancy in accounting may impact 2.35 per cent of the bank's net worth. The comprehensive report by PwC is expected to point out actual loss to the bank due to accounting discrepancies, lapses at various levels and remedial action, sources said. Banking sector regulator, Reserve Bank had directed the board and the management of IndusInd Bank to take remedial action during the current quarter itself after making required disclosures to all stakeholders. The current quarter comes to an end on March 31. Meanwhile, the IndusInd Bank's board has also hired Grant Thornton to conduct a forensic audit into accounting lapses. As per the mandate, Grant Thornton would conduct a comprehensive investigation to identify the root cause of the discrepancies and assess the correctness and impact

Stocks to Watch, March 24: IndusInd, ONGC, L&T, RIL, Power Grid, NCC, Ola

Stocks to Watch on Monday: IndusInd, ONGC, L&T, RIL, Power Grid, NCC, Raymond, Ola and Welspun Corp are among the stocks to watch today, March 24, 2025

IndusInd Bank taps Grant Thornton for fraud checks in accounting case

The accounting discrepancy contravened Reserve Bank of India rules, though the central bank has said IndusInd is well-capitalised

IndusInd Bank to hire independent firm to probe derivatives discrepancies

The firm will assess the correctness and impact of accounting treatment of derivative contracts in accordance with prevailing accounting standards, identify any lapses, and establish accountability

IndusInd Bank refutes media report on CEO and deputy stepping down

IndusInd Bank strongly denied the claims, however, stating they are "factually incorrect"

Stocks to Watch, March 21: IndusInd, Manappuram Fin, Bajaj Fin, JSW Energy

Stocks to Watch on Friday: IndusInd Bank, Manappuram Finance, Bajaj Finance, HUL, JSW Energy and Hindalco Industries are among the top stocks to watch today, March 21, 2025

CD rates top 8% for smaller banks amid banking system liquidity tightness

Indusind raises nearly Rs 15,000 via CDs this week with PSBs take a major chunk

Business of trust: IndusInd Bank events raise concerns over governance

While the bank has tasked an external agency to review the issues, reports suggest that discrepancy arose on account of derivatives positions taken by the bank to hedge its foreign-exchange exposure

IndusInd Bank appoints independent firm to probe accounting discrepancies

The independent firm, which the bank did not name, will identify the root cause of the discrepancies, assess the correctness of the accounting treatment of the derivative contracts

IndusInd bank raises additional Rs 2,750 crore via CDs, says CCIL data

On Monday, the lender had raised Rs 11,000 crore by issuing CDs across a range of maturities, with coupon rates varying between 7.80 per cent and 7.90 per cent