IndusInd Bank said on Sunday that the board is taking necessary steps to fix the account lapse. The bank has announced the significant restructuring of its top management following the revelation of a Rs 1,959.98 crore accounting discrepancy in its derivatives portfolio.
The reports were submitted on April 26, which found that the P&L of the firms as of March 31, 2025, is Rs 1,959.98, similar to the amount disclosed on April 15, 2025. IndusInd Bank said this in a regulatory filing. Â
“The bank will appropriately reflect the resultant impact of the accounting discrepancies in the financial statements for FY 2024-25 and take measures to strengthen internal controls accordingly,” it said in the filing. The bank has already discontinued internal derivative trades as of April 1, 2025.
The bank said that the accounting lapse would impact the bank’s net worth. IndusInd Bank has assessed the adverse impact of 2.27% on its net worth as of December 2024. The bank’s net worth as of December 2024 was Rs 65,102 crore.
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In response to the findings, IndusInd Bank has appointed Santosh Kumar, who replaced Arun Khurana, as Deputy Chief Financial Officer, overseeing the finance and accounts departments.
