SEBI Bans IndusInd Bank's Ex CEO Sumant Kathpalia From Securities Market

SEBI Bans IndusInd Bank's Ex CEO Sumant Kathpalia From Securities Market

The other officials restrained by Sebi are Arun Khurana, Executive Director and Deputy CEO of the bank at the time of the alleged violation; Sushant Sourav, Head- Treasury Operations; Rohan Jathanna, Head- GMG Operations and Anil Marco Rao, Chief Administrative Officer (CAO)- Consumer Banking Operations.

PTIUpdated: Wednesday, May 28, 2025, 10:24 PM IST
article-image
Sumant Kathpalia |

New Delhi: Markets regulator Sebi on Wednesday barred former Chief Executive Officer of IndusInd Bank, Sumant Kathpalia, and four others from accessing the securities markets, in connection with an alleged case of insider trading in the bank's shares.

Also, the regulator has impounded Rs 19.78 crore collectively from the five individuals, according to an interim order passed by Sebi.

The other officials restrained by Sebi are Arun Khurana, Executive Director and Deputy CEO of the bank at the time of the alleged violation; Sushant Sourav, Head- Treasury Operations; Rohan Jathanna, Head- GMG Operations and Anil Marco Rao, Chief Administrative Officer (CAO)- Consumer Banking Operations.

These senior executives are accused of trading in IndusInd Bank shares while in possession of unpublished price-sensitive information (UPSI), a breach of insider trading regulations.

The case stems from a Master Direction issued by the Reserve Bank of India (RBI), which had a significant impact on IndusInd Bank's operations. The bank's internal team had evaluated the financial implications of the directive and possessed non-public information at the time.

Sebi's investigation found that the five individuals executed trades before this sensitive information was made public, using their access to confidential insights for potential personal gain.

Accordingly, SEBI said: "All the Noticees, viz. Noticee Nos. 1 to 5, are hereby restrained from buying, selling or dealing in securities, either directly or indirectly, in any manner whatsoever, until further orders."

(Except for the headline, this article has not been edited by FPJ's editorial team and is auto-generated from an agency feed.)

RECENT STORIES

Godrej Properties Restructures Top Team in Mumbai Amid Executive Exits

Godrej Properties Restructures Top Team in Mumbai  Amid Executive Exits

Supreme Court Refuses To Quash Insolvency Case Against Byju’s, Cites Lack Of CoC Approval For...

Supreme Court Refuses To Quash Insolvency Case Against Byju’s, Cites Lack Of CoC Approval For...

IDBI Bank Q1 Net Profit Rises 17% To ₹2,007 Crore; Asset Quality And Capital Buffers Improve

IDBI Bank Q1 Net Profit Rises 17% To ₹2,007 Crore; Asset Quality And Capital Buffers Improve

EPFO Sees Record 20.06 Lakh Net Additions In May 2025, Driven By Surge In Youth & Female Workforce...

EPFO Sees Record 20.06 Lakh Net Additions In May 2025, Driven By Surge In Youth & Female Workforce...

Finance Ministry Allows Individual Taxpayers To Claim TDS Refunds By Filing I-T Returns After The...

Finance Ministry Allows Individual Taxpayers To Claim TDS Refunds By Filing I-T Returns After The...