The roles and works of major employees were also investigated
Private sector IndusInd Bank said on Thursday that its internal audit department has found ‘without documentary proof’ of Rs 595 crore in other books of book and faction. The roles of prominent employees have also been investigated in this connection. IndusInd Bank said in a notice to the stock market that this balance of books was further adjusted in January 2025 with the same amount seen in ‘other liabilities’ accounts.
Review was done after receiving complaints of whistleblower
The bank said that after receiving a complaint of whistleblower in this case, the audit committee of the board had asked the internal audit department to review the transactions registered in ‘other assets’ and ‘other liabilities’. This was in addition to reviewing the bank’s micro finance business, which was given by the bank to the stock markets on 22 April. The bank said, “The Internal Audit Department has submitted its report on 8 May 2025. According to this, there was an amount without documentary proof of up to Rs 595 crore in the bank’s ‘other assets’ accounts. It was adjusted with the same amount seen in ‘other liabilities’ accounts in January 2025.’
The roles and works of major employees were also investigated
IndusInd Bank said that the Audit Department has also investigated the roles and works of prominent employees in this context. Earlier on April 22, the bank said that as part of the process of finalizing the accounts, the bank’s audit department is reviewing the bank’s MFI business to investigate some concerns and the help of EY is also being taken in it.
Bank shares closed with a slight decline on Thursday
Let us tell you that on Thursday, IndusInd Bank shares closed down 0.16 percent (Rs 1.25) on BSE at a price of Rs 780.30. Private bank shares are trading below their 52 weeks high. The 52 weeks of IndusInd Bank shares is Rs 1550.00, while its 52 week is 605.40 rupees. According to BSE data, the current market cap of IndusInd Bank of Hinduja Group is Rs 60,789.62 crore.
With PTI inputs
Latest business news