Indusind Bank today, said that the accusation of the former Bank CFO Gobind Jain “categorically rejects” that the chairman of the Bank Sunil Mehta was involved in obscuring the accounting irregularities, which means that the shares of the creditor dive since the mention.
“This is in connection with a media report based on allegations that were supposedly lifted by the former CFO of Indusind Bank Limited. The bank categorically rejects these allegations against the chairman of the board and others who are completely devoid of merit and an attempt to expand the correct process of law and accountability,” the bank said. According to a media report, Jain asked the center to remove Mehta and others from the bank’s administration for their alleged involvement in obscuring irregularities, which led to material financial losses for the bank.
The lender said that her board made collective decisions to have incidents of gross irregularity, suspected fraud and breach of duty that were brought to their attention. The lender said that it has made disclosures in an honest and transparent way on the basis of studies carried out by independent internal and external experts.
“In addition to the investigations that the bank carried out, the bank has also reported the case to supervisors and law enforcement agencies for which the bank cooperates fully and has submitted all information and documents. The bank continues to take all necessary steps in accordance with the existing rules and regulations and that the responsibility will be determined as per right of the law,” said the statement.
Published on September 4, 2025
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