SFIO Expands IndusInd Bank Probe, Summons Audit Firms
Key Highlights
The Serious Fraud Investigation Office (SFIO) has widened its investigation into IndusInd Bank, summoning audit firms over ₹2,000 crore in derivatives irregularities. The probe follows questioning of former bank officials and aims to uncover corporate governance and accounting issues.
The Serious Fraud Investigation Office (SFIO) is broadening its investigation into IndusInd Bank, focusing on irregularities within the bank’s derivatives portfolio.
As part of the expanded probe, the SFIO has summoned major audit firms that have been associated with IndusInd Bank over the past decade. This action follows the questioning of former officials from the bank.
The investigation centers on irregularities estimated to have resulted in losses of approximately ₹2,000 crore. Authorities are seeking to uncover potential corporate governance issues and accounting discrepancies that may have contributed to the losses.