MCA orders SFIO probe into IndusInd Bank
Change
The Ministry of Corporate Affairs ordered the Serious Fraud Investigation Office to investigate IndusInd Bank over accounting discrepancies and related forensic monitoring reports.
Why it matters
Multiple ADT-4 filings under Section 143(12) of the Companies Act, 2013 were cited in the government's order. An ADT-4 dated May 12, 2025 flagged accounting discrepancies aggregating about ₹1,959.78 crore for FY2015-16 through FY2023-24. Forensic monitoring reports submitted to the Reserve Bank of India and the SFIO are included in the material the SFIO will examine. The Mumbai Police Economic Offences Wing plans to close its preliminary enquiry after finding no evidence of fund siphoning or diversion.
Implications
- — Bank finance and audit records will be subject to detailed SFIO review.
- — Statutory auditors' ADT-4 filings under Section 143(12) will be a central focus of examination.
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Source
Economic Times
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