Disgorgement - Business Outrank

Sebi has taken disciplinary action against five top executives of IndusInd Bank including former CEO Sumant Kathpalia and former deputy CEO Arun Khurana for insider trading. The regulator ordered them to pay back a total of ₹20 crore. The stock price dropped by 27.2% after IndusInd Bank revealed on March 10 that it had suffered significant derivative losses which reduced its net worth by 2.35% to ₹1,530 crore. The Sebi investigation revealed that these officials sold large volumes of shares during the period from September 12, 2023, to March 10, 2025 while being aware of unpublished price-sensitive information (UPSI) about derivative mismanagement. Despite this, they offloaded large volumes of shares. Khurana sold 348,500 shares for ₹53 crore, while Kathpalia sold 125,000 shares for ₹19.2 crore—both without pre-declared trading plans. Sebi concluded they avoided major losses by selling shares before the stock crash. The disgorgement amount was calculated by applying the 27.165% fall to the proceeds—₹14.4 crore for Khurana, ₹5.21 crore for Kathpalia, and smaller amounts for others. Sebi's firm stance reinforces its commitment to market transparency and fair play.

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