In Indusind Bank, suspicion of insider trading deepened, the bank sought information about asset and liability from the employee – Indusind Bank Case Doubt of Insider Trading Deepens Deepens Bank Assets and Liabilities Information

IndusInd Bank has sought details of assets and liabilities of its senior and middle level employees. This time the bank sent an email to the employees in March itself. He has been sent to a reminder this month. Employees have been asked to reply by 31 May. A source associated with the case gave this information. The source said that earlier the IndusInd Bank had not sought such information from its employees. However, some banks demand asset deactivorks from their employees under the policy.

Bank employees will keep the information confidential

Indusind bank The email sent to the staff of the Ki Staff states, “The code of conduct under morality and good governance practice demands that there should be transparency in the dealing of our employees.” The email also states that under the instructions of the management, all the employees are requested to submit the information. It is said that employees have been asked to give correct information about assets and liabilities. They will have to give complete information about this to the HR department. The bank has asked the employee that the information given by their behalf will be kept completely confidential.

Many senior employees on SEBI radar

IndusInd Bank did not respond to the email sent for more information about this. Some senior officers and executives of the bank are on the SEBI radar. They are suspected of joining Insider Trading. SEBI is investigating these employees to involve the shares of its bank as well as in the insider trading in the shares of clients. Moneycontrol had said in its news that 6 employees of the bank are on SEBI radar for insider trading in shares of clients companies.

Also read: Indusind Bank Fraud: What is the new fraud in IndusInd Bank, how worrying is it for customers and investors?

After investigation, 1-2 months SEBI can issue orders

SEBI had sought details in this regard from April. Information about all the complaints opening the case and the minutes of the audit committee of the board was also sought. SEBI is under investigation in this case. Based on the results of the investigation, SEBI can issue an order in the next 1-2 months. SEBI is also investigating whether the management or board of the bank has tried to save these employees after receiving complaints. It is alleged that some applications of IndusInd Bank used to trading in shares of clients companies and they had some insider information.