IndusInd Bank's Ex-Deputy Arun Khurana Deposits 50% Of Alleged Insider Trading Gains With SEBI

The Mumbai-headquartered IndusInd Bank's ex-deputy chief Arun Khurana has deposited 50% of alleged insider trading gains with Securities Exchange Board of India (SEBI).

The restrictions on the former IndusInd Bank personnel's bank account have been lifted, according to a stock exchange filing.

The private sector lender faced a crisis earlier this year post accounting and governance issues came to light, that ultimately led to the departures of its ex-CEO Sumant Kathpalia and Khurana.

The market regulator had initiated an investigation on Khurana and five others for insider trading.

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These banking officials were banned from securities markets in the interim and ordered to deposit so-called illegal gains of Rs 19.78 crore with the bulk of the amount attributed to Kathpalia and Khurana.

These officials were barred from the securities markets in the interim and ordered to deposit so-called illegal gains of ₹19.78 crore, with the bulk of the amount attributed to Kathpalia and Khurana.

The Securities Appellate Tribunal in a September 25 order had granted partial relief to Khurana and asked him to deposit half of the alleged gains in favour of SEBI.