IndusInd Bank Shake-up: Board to re-align top management roles after ₹1,959.98 crore accounting impact

IndusInd Bank Shake-up: IndusInd Bank's board of directors announced on Sunday, April 27, that the company is taking the necessary steps to realign top management roles and responsibilities, according to the exchange filing. 

“The Report also examined the roles and actions of key employees in this context. The Board is taking necessary steps to fix accountability of the persons responsible for these lapses and re-align roles and responsibilities of senior management,” said IndusInd Bank in the BSE filing.

The board, on March 20, 2025, appointed an external independent professional firm to conduct a comprehensive investigation to identify the cause of the financial discrepancies.

The independent professional firm submitted its report to the Bank on April 26, 2025, after which the Bank determined that the cumulative financial impact was at ₹1,959.98 crores as of the financial year ended March 2025. 

“The Bank will appropriately reflect the resultant impact of the accounting discrepancies in the financial statements for FY 2024-25 and take measures to strengthen internal controls accordingly,” they said in the exchange filing.

IndusInd Bank Share Price

IndusInd Bank shares closed 0.32 per cent lower at ₹822.25 after Friday's stock market session, compared to ₹819.65 at the previous market session. 

IndusInd Bank shares have given stock market investors more than 75 per cent returns on their investment in the last five years. However, the stock has lost 44.86 per cent in the last one-year period.

The shares have gained 26.18 per cent in the last one-month period. IndusInd Bank's shares hit their 52-week high level at ₹1,550 on June 2024, while the 52-week low level was at ₹605.40 on March 12, 2025, according to data collected from BSE website.

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