Try GOLD - Free
IndusInd fiasco: CEO made ₹100 cr in share sale
The New Indian Express Bhubaneswar
|March 14, 2025
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.
This story is from the March 14, 2025 edition of The New Indian Express Bhubaneswar.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM The New Indian Express Bhubaneswar
The New Indian Express Bhubaneswar
Dynastic politics a grave threat to democracy in India, says Tharoor
IN what could trigger a political storm within the Congress, senior leader Shashi Tharoor has come out against dynasty politics, terming it a grave threat to democracy.
1 min
November 04, 2025
The New Indian Express Bhubaneswar
K Vijaya Kumar appointed as CEO of IIMS
AS India embarks on an infrastructure and mining expansion, Innovative Infra & Mining Solutions (IIMS), part of the diversified CKA Birla Group, has appointed industry veteran K Vijaya Kumar as its new CEO.
1 min
November 04, 2025
The New Indian Express Bhubaneswar
Zubeen murdered, chargesheet by Dec 17, says Himanta
ASSAM Chief Minister Himanta Biswa Sarma said that Zubeen Garg's death was not accidental but a case of murder on Monday. “I won't call it an accident but murder.
1 min
November 04, 2025
The New Indian Express Bhubaneswar
₹1L cr fund to boost pvt investment in research
PRIME Minister Narendra Modi on Monday launched a ₹1 lakh crore Research, Development and Innovation Scheme for high-risk and high-impact projects, marking a significant shift in India's research sector.
2 mins
November 04, 2025
The New Indian Express Bhubaneswar
Rybakina rallies to beat Swiatek in WTA Finals
ELENA Rybakina recorded an impressive 3-6, 6-1, 6-0 victory over second-seeded Iga Swiatek in round-robin play at the WTA Finals in Riyadh on Monday.
1 min
November 04, 2025
The New Indian Express Bhubaneswar
ERADICATING POVERTY: A JOB NOT FULLY DONE
K ERALA has declared itself free of extreme poverty-a bold claim which, if true, marks a major milestone even for a state that takes pride in its human development achievements.
1 mins
November 04, 2025
The New Indian Express Bhubaneswar
Chief secys say sorry for not filing compliance report in stray dog case
THE chief secretaries of states and Union Territories have tendered an unconditional apology before the Supreme Court for not filing a compliance affidavit on the issue of the menace of stray dog bites.
1 min
November 04, 2025
The New Indian Express Bhubaneswar
India plans to bring eight cheetahs from Botswana
INDIA plans to bring another batch of eight cheetahs from Botswana by the third week of December that are currently under quarantine.
1 min
November 04, 2025
The New Indian Express Bhubaneswar
A LINGUISTIC GAME OF DEFINITIONS
OFTENTIMES definitions can limit you, imposing unnecessary constraints, enclosing things within the four corners of a narrow, arbitrary boundary that you set for yourself. Other times, they provide no real meaning as the thing defined may not mean anything by itself.
3 mins
November 04, 2025
The New Indian Express Bhubaneswar
SC rejects creditor's plea against Aakash rights issue
THE Supreme Court on Monday dismissed an appeal filed by US-based lender GLAS Trust Company LLC, a creditor of Think & Learn Pvt Ltd, parent company of BYJU’s, against the rights issue proposed by Aakash Educational Services Limited (AESL), clearing the way for the capital raise that will reduce Byju’s holding in the company from 25.75% to about 5%.
1 mins
November 04, 2025
Listen
Translate
Change font size