Sebi bars former IndusInd CEO, four others from market
Mumbai, May 29 -- India's capital markets watchdog cracked down on IndusInd Bank Ltd's (IBL) former managing director and chief executive officer (CEO) Sumant Kathpalia, with four other senior officials for alleged insider trading, impounding gains of Rs.19.78 crore and restraining them from trading in securities until further notice.
The five executives were issued show-cause notices over allegations of offloading shares while in possession of unpublished price sensitive information (UPSI) related to a massive accounting discrepancy.
Apart from Kathpalia, the Securities and Exchange Board of India's (Sebi's) order on Wednesday barred former executive director and deputy CEO Arun Khurana, treasury operations head Sushant Sourav, global mark...
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