The complaint names Samir Agarwal, former zonal head of eastern India at IndusInd. It alleges him of using confidential information to generate gains of around 46 crore on trades worth nearly 815 crore, ahead of key public developments
A fresh whistleblower complaint has been filed against IndusInd Bank, alleging insider trading, governance failures and shortcomings in audit and forensic reviews, Economic Times (ET) reported.
The complaint has been submitted to the Prime Minister's Office, the Reserve Bank of India (RBI), the Serious Fraud Investigation Office (SFIO) and the National Financial Reporting Authority (NFRA), among other regulatory agencies. It was also sent to the bank at the end of May.
The development follows the discovery of around 2,000-crore derivatives accounting discrepancy at the bank in 2024.
It alleges that Agarwal used confidential information obtained through his corporate banking responsibilities to facilitate share transactions by family members and related entities, generating gains of approximately 46 crore on trades worth nearly 815 crore, ahead of key public developments.
The complaint further alleges that family-linked trades totalled around 816 crore with gains exceeding 53 crore, a significant portion of which involved companies within his corporate loan portfolio.
In one cited instance, Agarwal's wife allegedly purchased over 3.4 million shares of Kesoram Industries, a company within his loan portfolio, prior to a major strategic...
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