IndusInd Bank share price gains 2% after Deputy CEO Arun Khurana resigns amid discrepancies in derivatives portfolio

IndusInd Bank share price gained over 2% in early trade on Tuesday after its Deputy Chief Executive Officer (CEO) Arun Khurana resigned from his position. IndusInd Bank shares rallied as much as 2.64% to ₹852.40 apiece on the BSE.

Khurana tendered his resignation at a time when the private lender plans to rearrange top management after it reported discrepancies in derivatives portfolio which had adverse accounting impact on its profit and loss account amounting to ₹1,959.98 crore.

On Monday, IndusInd Bank informed stock exchanges that its Whole-time Director (Executive Director) and Deputy CEO Arun Khurana has resigned from his position with immediate effect.

“... we hereby inform that Mr. Arun Khurana, Whole-time Director (Executive Director) & Dy. CEO, Key Managerial Personnel of the Bank, has by his letter dated April 28, 2025, resigned with immediate effect,” IndusInd Bank said in a regulatory filing on April 28.

Khurana’s resignation also comes after the private lender on Sunday said that its Board was taking “necessary steps to fix accountability of the persons responsible for these lapses and re-align roles and responsibilities of senior management”.

In his resignation letter addressed to the Board of Directors, Khurana cited recent developments involving adverse accounting impacts on the bank’s P&L.

“Considering the recent unfortunate developments, wherein the Bank determined an adverse accounting impact on P&L, on account of incorrect accounting for internal derivative trades, I having oversight of the Treasury Front office function, as the Whole Time Director, Deputy CEO and a part of Senior Management of the bank, hereby resign, effective immediately,” his resignation letter said.

IndusInd Bank Share Price Update

IndusInd Bank share price recouped some of the losses and gained 29% in the past one month. However, IndusInd Bank shares are still down 13% on a year-to-date (YTD) basis, and have fallen 44% in one year.

At 9:30 AM, IndusInd Bank shares were trading 1.50% higher at ₹843 apiece on the BSE.

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