IndusInd Bank announced on Sunday that its Deputy CEO and Executive Director, Arun Khurana, has resigned with immediate effect. The resignation comes in the wake of an internal issue related to the incorrect accounting of internal derivative trades, which had an adverse impact on the bank’s profit and loss (P&L) statement.
In his resignation letter addressed to the Board, Khurana stated, “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 hereby resign effective immediately.” Khurana, who had oversight of the Treasury Front Office function, said he was stepping down taking responsibility for the developments.
The bank clarified that the resignation was formally accepted at a board meeting held on April 28, 2025. IndusInd Bank also confirmed that Khurana has offered his assistance to ensure a smooth transition.
In its regulatory filing, IndusInd Bank emphasized that Khurana’s resignation pertains solely to the issues related to accounting processes and that no other disclosures, including conflict of interest or related-party concerns, were necessary under SEBI norms.
