IndusInd Bank Accounting Lapse: Mumbai EOW Starts Preliminary Enquiry After Management Files Complaint

As per the news reports, Mumbai’s Economic Offences Wing (EOW) has initiated a preliminary enquiry (PE) into an alleged accounting lapse at IndusInd Bank, following a complaint made by the current management. This first step aims to determine whether the matter is legally cognisable before proceeding to any formal FIR.

Staff Statements and Senior Executives to Be Summoned

The EOW has recorded statements from staff members associated with the offices of the bank’s former Chief Financial Officer (CFO) and former Deputy CFO, as confirmed to CNBC-TV18. The agency also indicated it will summon Sumant Kathpalia, Managing Director and CEO of IndusInd Bank, and Arun Khurana, a senior official, in due course to record their version. Additionally, the EOW retains the authority to summon the former CFO and the former Deputy CFO.

Preliminary Enquiry Details and Process

As per reports, this stage is categorised as a preliminary enquiry, not as a First Information Report (FIR). A PE is carried out in order to establish whether the matter is cognisable before registering an FIR. During this process, the EOW can summon individuals and record their statements, ensuring all relevant perspectives are documented before deciding subsequent steps.

Also Read: IndusInd Bank Launches Indus StartUp Banking to Empower Founders!

IndusInd Bank Share Price Performance 

As of August 13, 2025, at 1:54 PM, IndusInd Bank share price is trading at ₹774.45 per share, reflecting a decline of 1.10% from the previous closing price. Over the past month, the stock has declined by 10.74%.

Conclusion

By launching this preliminary enquiry, the Mumbai EOW is thoroughly examining the accounting concerns at IndusInd Bank, gathering statements from former and current staff. The decision on whether to escalate the matter to a formal FIR will follow the outcome and findings of this process.

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