FORENSIC AUDIT INDUSIND BANK
Stock market update: Nifty Bank index falls 0.37%
The Nifty Bank index closed 0.37 per cent down at 56629.1.
Stock market update: Nifty Bank index falls 0.38% in a weak market
The Nifty Bank index was trading 0.38 per cent down at 56622.85.
Stock market update: Stocks that hit 52-week lows on NSE
ICICI Bank, Eternal, Asian Paints, Bajaj Finserv and SBI Life were among the top losers on NSE.
In a first in 14 years, PSU banks beat private ones in loan growth
ICICI Bank's price-to-book (P/B) ratio is currently around 3.5. In contrast, State Bank of India P/B is around 1.5, reflecting differing market perceptions of the two banks' growth prospects, profitability, and risk profiles.
CBI arrests man in child sexual assault case from Aizawl
The CBI arrested an individual in Aizawl, Mizoram, for sexually assaulting a minor and possessing Child Sexual Abuse Material (CSAM). The arrest followed a CBI investigation initiated after identifying CSAM through international databases and cyber tipline reports. Forensic analysis revealed the assault, leading to the rescue of the victim who was threatened and exploited to create CSAM.
Rs 4.58 crore stolen from ICICI bank customers: Broke FDs, created overdraft and personal loan; how relationship manager executed fraud
A 26-year-old ICICI Bank relationship manager in Kota, Rajasthan, was arrested for stealing Rs 4.58 crore from customers, including senior citizens between 2020 and 2023. This issue came to light as the bank reported the matter to police. The RM used the funds for speculative stock market trading in future and options (F&O). As per bank, after it came to know about the fraud it has refunded money to all depositors. Read below to know more.
- Go To Page 1
Stocks in news: HDFC Bank, Suzlon Energy, Tata Steel, BEL, MCX
HDFC Bank Share: Markets closed the week positively, buoyed by favorable domestic factors. HDFC Bank will pursue legal action against allegations from the LKMM Trust. Suzlon Energy's promoters are expected to sell a significant number of shares, while Tata Steel anticipates commencing its low-carbon project in the UK by 2025.
IndusInd Bank shares in focus after Sebi issues correction in insider trading case
Sebi issued a corrigendum to its recent interim order in the insider trading case involving the bank, clarifying that a crucial document previously referred to as a “board note” was actually an “engagement note.”
HDFC Bank shares in focus after CEO named in alleged fraud linked to Lilavati Trust
HDFC Bank’s CEO, Sashidhar Jagdishan, was named in a police complaint by the Mehta family linked to alleged financial fraud involving the Lilavati Kirtilal Mehta Medical Trust. The bank denies the claims, calling them baseless and a misuse of legal processes amid an ongoing loan recovery dispute with the Mehta family over dues from Splendour Gems.
HDFC Bank MD & CEO named in alleged fraud linked to Lilavati Trust: What are allegations?
HDFC Bank's CEO, Sashidhar Jagdishan, faces allegations in a Mumbai Police FIR. The Lilavati Kirtilal Mehta Medical Trust alleges he received money to harass a trustee's father. HDFC Bank denies the charges, linking them to a loan recovery case involving Splendour Gems. The bank claims the Mehta family is attempting to derail recovery efforts.
Sebi issues correction in IndusInd Bank insider trading case
Sebi has issued a corrigendum in the IndusInd Bank insider trading case, clarifying that a key document referred to as a “board note” in its interim order should have been called an “engagement note.” The case involves allegations of UPSI-based share sales by top executives before disclosing Rs 1,572 crore in derivative losses, helping them avoid nearly Rs 20 crore in losses.
India's digital forensics market to triple global growth, hit $1.39 billion by FY30: Report
Mobile forensics now dominates the sector, accounting for about 51% of the market, driven by the boom in smartphone usage, digital payments and mobile-centric cybercrime. With 81% of demand coming from the public sector, particularly law enforcement, the report highlights the growing reliance on forensic tech to combat sophisticated digital threats.
IndusInd Bank shares rise 5% as RBI officials hope things will settle soon
IndusInd Bank shares jumped up to 5.3% on Friday, marking their best day in nearly two months, after RBI officials expressed confidence that recent issues at the bank would soon stabilize. RBI Deputy Governor J. Swaminathan said the situation at IndusInd "should soon settle down," while Governor Sanjay Malhotra noted the bank had taken sufficient steps to improve accounting practices.
IndusInd Bank shares rise 5% as RBI officials hope things will settle soon
IndusInd Bank shares: Governor Sanjay Malhotra emphasized that the central bank will fulfill its responsibilities if additional measures are required. The issue originated from a forensic audit by Grant Thornton, which identified irregularities in the bank’s accounting of specific internal currency derivative transactions over the last six years.
IndusInd Bank shares rise 5% as RBI officials hope things will settle soon
IndusInd Bank shares jumped up to 5.3% on Friday, marking their best day in nearly two months, after RBI officials expressed confidence that recent issues at the bank would soon stabilize. RBI Deputy Governor J. Swaminathan said the situation at IndusInd "should soon settle down," while Governor Sanjay Malhotra noted the bank had taken sufficient steps to improve accounting practices.
IndusInd Bank expands hyper-personalised digital banking experience to all customers with INDIE app
IndusInd Bank expands its digital banking platform, ‘INDIE’, to over 15 million retail customers, integrating core banking services into a unified interface. The app features numberless debit cards, virtual single-use cards, and dynamic ATM PINs for enhanced security.
Grocery delivery app KiranaPro faces cyberattack, servers deleted; CEO says legal proceedings on
The startup, which enables users to order groceries from nearby kirana stores, got to know of the incident on May 26. KiranaPro lost a huge amount of data in the incident, where hackers gained root access to the startup's accounts on Amazon Web Services (AWS) and GitHub.
NCLAT sets aside direction for forensic audit of Golden Tobacco, reinstates Resolution Professional
The National Company Law Appellate Tribunal (NCLAT) has overturned the National Company Law Tribunal's (NCLT) orders regarding Golden Tobacco. These orders included a forensic audit and a change in the resolution professional. NCLAT has also extended the Corporate Insolvency Resolution Process (CIRP) timeline to October 17, 2025.
Amit Shah unveils plan for 7 CFSLs, 9 new NFSUs
Union Home Minister Amit Shah announced the establishment of seven new Central Forensic Science Laboratories (CFSLs) across multiple states with an ₹807 crore investment, including forensic mobile vans for each state. A new CFSL building was inaugurated in Kolkata to serve West Bengal, Jharkhand, and the Northeast, expediting investigations through a cluster-based system.
ICAI to review IndusInd Bank’s financial statements amid fraud concerns
The Institute of Chartered Accountants of India (ICAI) will review private lender IndusInd Bank’s financial statements for the financial years 2023–24 and 2024–25 in the wake of recent fraud allegations, reported PTI citing ICAI President Charanjot Singh Nandal on Thursday.
DPS Dwarka case: HC pronounces key ruling, orders school to let disenrolled students back in on part payment of hiked fees
The Delhi High Court has ordered DPS Dwarka to reinstate students removed for unpaid fees, contingent on paying 50% of the increased amount. This ruling addresses a petition by over 100 parents protesting fee hikes and expulsions, amidst allegations of land allotment breaches and DoE guideline violations.
IndusInd Bank shares in focus amid NFRA complaint over audit discrepancies
NFRA has received a complaint highlighting audit lapses tied to the bank’s forex derivatives. The irregularities, flagged internally, may have a financial impact of Rs 2,100 crore pre-tax. Regulatory bodies, including the RBI, SEBI, and ICAI, are scrutinising the matter. Meanwhile, key resignations have followed amid accounting gaps in the microlending business.
NFRA gets complaint against audit lapses at IndusInd Bank
National Financial Reporting Authority received a complaint against IndusInd Bank. The complaint is about accounting issues in forex derivative portfolio. Reserve Bank of India is providing inputs to NFRA. Securities and Exchange Board of India and Institute of Chartered Accountants of India are also reviewing the bank's books. IndusInd Bank reported losses due to these discrepancies.
Looking into 'egregious violations' by IndusInd Bank officials: Sebi chief
Sebi Chairman Tuhin Kanta Pandey on Thursday said the market regulator is looking into any "egregious violations" by senior management of IndusInd Bank, hit hard by accounting frauds, which according to estimates involve a staggering about Rs 3,400 crore.
Looking into "egregious violations" by IndusInd Bank officials: Sebi chief
Markets regulator Sebi is investigating potential serious violations by senior management at IndusInd Bank, which is grappling with accounting fraud. While the RBI addresses broader issues, Sebi focuses on securities market breaches by bank officials. IndusInd Bank's board suspects employee involvement in the fraud, prompting internal audits, forensics probes, and reports to investigative agencies.
IndusInd Bank shares in focus as 6 officials face insider trading probe
IndusInd Bank shares: The investigation seeks to establish whether these officials sold employee stock options while having knowledge of accounting irregularities at the bank—prior to the disclosure of this information—according to two sources with knowledge of the matter, Reuters reported.
6 officials of IndusInd Bank under investigation for insider trading: Reports
India's markets regulator, SEBI, is investigating six IndusInd Bank officials for potential insider trading. The probe focuses on whether these officials sold stock options with knowledge of undisclosed accounting irregularities. SEBI is examining the timing of trades and has requested a report from the bank regarding the accounting lapses and delayed disclosure, which led to executives stepping down.
IndusInd Bank shares slip 6% after internal audit flags Rs 595 crore discrepancy in 'other assets'
IndusInd Bank shares: In a regulatory filing on Thursday, the bank disclosed that a discrepancy was identified following a whistleblower complaint. The Audit Committee then instructed the Internal Audit Department (IAD) to investigate transactions recorded under both "other assets" and "other liabilities."
IndusInd Bank probes yet another accounting issue
IndusInd is facing scrutiny over past accounting reversals flagged in a whistleblower letter to the RBI and the board. The letter also highlighted a discrepancy in interest income from the microfinance portfolio and an inappropriate relationship between a senior executive and an employee. These issues led to internal and forensic audits, executive resignations, and a significant financial provision.
Load More
