IndusInd Bank issues clarification on old ED probe

Private lender, IndusInd Bank on Wednesday issued clarification pertaining to an old investigation lodged by the Enforcement Directorate. The case relates to remittance transactions between 2011 to 2014 in which the ED is investigating certain entities and some bank employees in connection with financial irregularities.

IndusInd Bank clarified that an FIR was filed by the ED on July 9, 2022, with Chennai Police against some of those entities and a few employees of the Bank, most of whom have already separated from the bank.

"The bank had suo motu filed Suspicious Transaction Reports (STRs) with the regulatory authorities during the relevant period for many of these entities," the lender said in an exchange filing. "The bank had also filed complaints with the police authorities in 2015 against some of the unscrupulous entities. Incidentally, the matter was subject of scrutiny by the RBl in October 2015 and a penalty was levied on the bank."


The lender also clarified that it has no exposure to the entities that are being investigated and is extending full cooperation to the investigative agencies.