The Ministry of Corporate Affairs directed the Serious Fraud Investigation Office to probe IndusInd Bank due to accounting discrepancies totaling about ₹1,960 crore over FY2015-16 to FY2023-24, as flagged through multiple statutory auditor ADT-4 forms under the Companies Act. These irregularities include accounting errors, weak internal controls, manipulation of accounts, fictitious accounts creation, and misclassification of income and assets. While the Mumbai Police’s Economic Offences Wing, after a preliminary inquiry, found no evidence of fund siphoning or diversion, the SFIO’s inquiry aims to safeguard public interest by investigating these allegations, examining related-party transactions, loans, and investments. The investigation coincides with ongoing regulatory and forensic audits, including PwC and Grant Thornton reviews, which named individuals linked to the lapses.