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IndusInd fiasco: CEO made ₹100 cr in share sale
March 14, 2025
|The New Indian Express Thrissur
CEO Sumant Kathpalia and deputy CEO Arun Khurana sold shares worth ₹157 crore during 2023 and 2024
INDUSIND BANK chief executive Sumant Kathpalia and deputy chief executive Arun Khurana sold net worth ₹157 crore during 2023 and 2024. During this period, they had also bought shares worth ₹59 crore.
Both executives are beneficiaries of the employees stock option scheme (Esops) and they sold and bought back the shares of the bank under this option.
The fifth-largest private sector lender has been in trouble since this Monday when it had declared that it did not make provisions for its losses — running into at least ₹2,000 crore according to analysts — or 2.35% of its networth, which as of December 2024 had stood at ₹64,000 crore — for its forex derivatives book. The Hinduja promoted bank said it had conducted the review of its book after the Reserve Bank has asked it to do so.
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