Private sector lender IndusInd Bank clarified on Wednesday that it has “not received the communication from any government or regulatory authority” regarding a fresh whistleblower complaint.

Shares of IndusInd Bank fell as much as 3.12% to a day’s low reacting to a media report which said a whistleblower was seeking probe into alleged insider trading, governance failures and shortcomings in forex and audit reviews in the bank. The scrip recovered marginally towards the end, closing 1.44% lower at 899.4 on the BSE.

“We also clarify that all concerns raised in the news item have been duly examined in the past, and appropriate actions have been undertaken in accordance with the Bank’s internal policies and applicable regulatory requirements,” a statement to the stock exchanges said.

“The Bank has also proactively reported certain matters to the relevant authorities and continues to extend full cooperation, in line with its regulatory obligations. Further, the Bank has consistently followed established governance and oversight processes in addressing such matters. Any conclusions based on unverified allegations may not present a complete or accurate picture of the matter,” the IndusInd Bank statement added.

IndusInd declined to comment separately on the issue.

The Bank is facing ongoing probes related to alleged accounting irregularities and frauds by former senior officials in 2023.

The Securities and Exchange Board of India has been investigating the role of former IndusInd...

Read Full Story: https://news.google.com/rss/articles/CBMi5gFBVV95cUxPMVRiTm1RUXJiMUtWdGhfTDdt...