The Serious Fraud Investigation Office (SFIO) has launched an investigation into IndusInd Bank following alleged accounting discrepancies in its derivatives portfolio.
The bank informed stock exchanges that it received a notice under Section 212 of the Companies Act, 2013, and is cooperating fully. Audits and internal reviews flagged irregular accounting of derivative trades, overstated microfinance income, and unexplained “other assets” and “other liabilities.”
These irregularities led to major adjustments in the bank’s financial statements. SFIO’s probe will examine the nature and extent of these discrepancies and whether they involve deliberate misreporting or lapses in compliance.