Private sector lender IndusInd Bank clarified on Wednesday that it has “not received the communication from any government or regulatory authority” regarding a fresh whistleblower complaint.

Shares of IndusInd Bank fell as much as 3.12% to a day’s low reacting to a media report which said a whistleblower was seeking probe into alleged insider trading, governance failures and shortcomings in forex and audit reviews in the bank. The scrip recovered marginally towards the end, closing 1.44% lower at ₹899.4 on the BSE.

“We also clarify that all concerns raised in the news item have been duly examined in the past, and appropriate actions have been undertaken in accordance with the Bank’s internal policies and applicable regulatory requirements,” a statement to the stock exchanges said.

“The Bank has also proactively reported certain matters to the relevant authorities and continues to extend full cooperation, in line with its regulatory obligations. Further, the Bank has consistently followed established governance and oversight processes in addressing such matters. Any conclusions based on unverified allegations may not present a complete or accurate picture of the matter,” the IndusInd Bank statement added.

IndusInd declined to comment separately on the issue.

The Bank is facing ongoing probes related to alleged accounting irregularities and frauds by former senior officials in 2023.

The Securities and Exchange Board of India has been investigating the role of former IndusInd Bank officials over an insider trading case. In October 2025, IndusInd Bank’s former deputy CEO Arun Khurana was ordered by the Securities Appellate Tribunal to deposit 50% of the insider trading gains of ₹14.39 crore, with Sebi.

Khurana, along with former CEO Sumant Kathpalia, was allegedly involved in insider trading by selling shares while being in possession of unpublished price-sensitive information (UPSI) regarding the bank's derivatives accounting.

IndusInd Bank, which faces an investigation from the fraud investigation agency, Serious Fraud Investigation Office (SFIO), has been told about missing a deadline in presenting a forensic audit report by PwC to the Bank’s board.

Veteran banker Rajiv Anand, formerly deputy managing director at Axis Bank, joined IndusInd Bank as managing director and CEO on August 25, 2025, for a three-year term, following approval by the Reserve Bank of India.

He has been involved in building a fresh team and reducing the trust deficit which plagued the bank earlier.

Ganesh Sankaran and Jagdeep Mallareddy were elevated to executive director roles, to take charge of wholesale banking and consumer banking, respectively. Sunil Kumar Singh, earlier with Mizuho Bank for 11 years, was appointed as chief compliance officer at the Bank.