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'Pre-clearance' shield for IndusInd execs
Business Standard
|March 28, 2025
Taking A Hit
The Securities and Exchange Board of India (Sebi) is investigating potential insider trading violations at IndusInd Bank, where the "pre-clearance" of trades may emerge as a pivotal defense for senior executives.
Sebi is reportedly examining whether five senior IndusInd executives possessed unpublished price-sensitive information (UPSI) when they sold shares on the open market. The regulator has also requested details of trades executed by these executives.
Stock exchange disclosures reveal that between May 2023 and June 2024, IndusInd Chief Executive Officer (CEO) Sumant Kathpalia offloaded nearly 950,000 shares worth roughly ₹134 crore, while Deputy CEO Arun Khurana sold 550,000 shares valued at ₹82 crore. These shares were acquired through their employee stock ownership plan.
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