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IndusInd fiasco: CEO made ₹100 cr in share sale
The New Indian Express Kozhikode
|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 Kozhikode.
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