Sumant Kathpalia (former MD & CEO), Arun Khurana (former ED & Deputy CEO), and Govind Jain (former CFO) have been asked to appear between Monday (September 22) and Wednesday (September 24) next week.

IndusInd Bank & Hero MotoCorp | The private lender and the two-wheeler giant will both be excluded from the Nifty 50 index as part of the bi-annual index rejig from the end of September.

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Published Sep 17, 2025 | 6:26 AM GMT-04

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Mumbai’s Economic Offences Wing (EOW) has stepped up its probe into accounting irregularities at IndusInd Bank and has issued summons to its former top executives.

Sumant Kathpalia (former MD & CEO), Arun Khurana (former ED & Deputy CEO), and Govind Jain (former CFO) have been asked to appear between Monday (September 22) and Wednesday (September 24) next week.

The investigation follows a complaint filed by the current bank management, relating to a disclosed loss of approximately ₹1,960 crore tied to misaccounted derivative trades.

EOW is currently gathering evidence to assess whether a cognisable offence has taken place. It has not yet crossed into an FIR, although staff from the bank have already been questioned by the police.

Attempts to reach Sumant Kathpalia for comment did not yield a response.

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