Sebi Clears IndusInd Execs of Trading Charge

The stock market regulator has closed its investigation into potential insider trading violations by top IndusInd Bank executives, a person aware of the matter said, as it found all disclosures in place and no evidence of wrongdoing.

- Gopika Gopakumar

MUMBAI:

The Securities and Exchange Board of India (Sebi) had sought information from the private lender about the trades executed by Sumant Kathpalia and Arun Khurana—IndusInd Bank's chief executive officer (CEO) and deputy CEO who have since resigned—while they were in possession of unpublished price-sensitive information.

"Sebi asked for some data, but nothing was found. Because it (the trade) was done after they vested the Esops. It was announced. They didn't do it without informing," the person said on the condition of anonymity, adding all disclosures were made.