India Bans Former IndusInd CEO, Others in Insider Trading Case
India's securities market regulator has banned some former as well current top executives of IndusInd Bank Ltd., backed by the billionaire Hinduja brothers, from accessing the capital markets in a case of alleged insider trading, according to an initial order.
The regulator found former Chief Executive Officer Sumanth Kathpalia and former Deputy CEO Amit Khurana allegedly indulged in trading of the lender's shares while in possession of price-sensitive information, the Securities and Exchange Board of India order said. The regulator's directions are also applicable to the bank's head of treasury, head of global markets group and the chief administrative officer.
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