IndusInd Bank Share Price Today: In a regulatory filing, the firm said this balance was, later in January 2025, set off against corresponding balances appearing in “other liabilities” accounts.
Mumbai: IndusInd Bank Share Price Today: Shares of IndusInd Bank are under pressure today as the firm has stated that its Internal Audit Department (IAD) has found “unsubstantiated balances” of Rs 595 crore in “other assets” of its balance sheet. The bank said that the IAD has also examined the roles and actions of key employees in this context. As a result, the stock shed nearly 6 per cent in the opening trade and started the session at Rs 735.95 on the BSE. This is a fall of 5.68 per cent from the previous close of Rs 780.30. However, the stock recovered later and touched the intraday high of Rs 775.15. Last seen, it was trading at Rs 765.35.
At the NSE, shares of IndusInd dropped 3.90 per cent to Rs 750.
In a regulatory filing on Thursday, the firm said this balance was, later in January 2025, set off against corresponding balances appearing in “other liabilities” accounts.
It said following receipt of a whistleblower complaint, the IAD was asked by the Audit Committee of the Board to review transactions recorded in “other assets” and “other liabilities”.
This was in addition to the review of the Bank’s MFI business, which the beleaguered lender had disclosed to the stock exchanges on April 22.
“Pursuant to receipt of a whistleblower complaint, the IAD was asked by the Audit Committee of the Board to review transactions recorded in ‘other assets’ and ‘other liabilities’.
The IAD has submitted its report on May 8, 2025 that there were unsubstantiated balances aggregating to Rs 595 crore in ‘other assets’ accounts of the Bank.
These were set off against corresponding balances appearing in ‘other liabilities’ accounts in January 2025,” IndusInd Bank said.
The IAD has also examined the roles and actions of key employees in this context, it added.
Earlier on April 22, IndusInd had said that as part of the process of finalisation of accounts, the bank’s IAD is conducting a review of the bank’s MFI business to examine certain concerns and it has engaged EY to assist the IAD.
With PTI inputs
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
