Sebi, on Wednesday, passed an interim order against former IndusInd Bank MD and CEO Sumant Kathpalia and Deputy CEO Arun Khurana over alleged insider trading, restraining them from accessing the securities market. The market regulators found that they traded during the existence of sensitive information on Unpublished Price.
The other people barred by Sebi from the securities market in the same matter are Sushant Saurav, Anil Marco Rao, and Rohan Jathanna.
In March, IndusInd Bank disclosed that years of incorrect accounting of internal derivative trades led to a $230 million hit to its accounts. Separately, an internal audit of its microfinance business found that around $80 million was incorrectly recorded as interest over three quarters.