New Delhi, June 3 (IANS) Shares of private lender IndusInd Bank fell 3 per cent on Wednesday after reports emerged of a fresh whistleblower complaint seeking an investigation into alleged insider trading, governance lapses and audit shortcomings at the bank.
The stock declined as much as 3.01 per cent to hit an intraday low of Rs 884.75 apiece on the BSE as of 2:30 pm. At the last count, the banking stock was trading at Rs 895.80, down about 2 per cent.
The selling pressure followed reports suggesting that a whistleblower had approached multiple authorities, including the Prime Minister’s Office (PMO), the Reserve Bank of India (RBI), the Serious Fraud Investigation Office (SFIO), the National Financial Reporting Authority (NFRA) and other agencies.
According to reports, the complaint alleged insider trading, manipulation of financial records, evergreening of microfinance loans, suppression of audit findings and attempts by senior management and board members to conceal irregularities.
The whistleblower reportedly accused Samir Agarwal, former zonal head of eastern India at IndusInd Bank, of generating gains of around Rs 46 crore through share transactions worth nearly Rs 815 crore carried out by family members and related entities using confidential information before key developments became public.
Meanwhile, both the BSE and NSE sought clarification from the bank regarding reports related to the whistleblower complaint.
However, the lender’s response is awaited, according to the exchanges.
The latest developments come months after IndusInd Bank disclosed accounting discrepancies related to internal derivative trades, which triggered a sharp correction in the stock and resulted in multiple senior-level exits, including former CEO Sumant Kathpalia.
Moreover, in December 2025, the bank said that the SFIO had initiated an investigation into its affairs under Section 212 of the Companies Act, 2013, and sought relevant information related to accounting issues flagged earlier. The lender had then disclosed receiving a letter from the agency seeking specific details as part of the probe.
--IANS
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