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July 2025

From Published Accounts

By Himanshu Kishnadwala, Chartered Accountant
Reading Time 7 mins

COMPILER’S NOTE

In the last few weeks, a large bank in India was in the news for several accounting lapses resulting in a discrepancy in its derivatives portfolio, interest income and other matters. The regulators were also actively monitoring the developments for the same. Given below are the relevant disclosures in the financial results of the Bank for the quarter and year ended 31st March, 2025.

INDUSIND BANK LIMITED

From Independent Auditors’ Report on Standalone Financial Results pursuant to Regulation 33 and Regulation 52 of SEBI (LODR) (extracts)

Emphasis of Matters

4. We draw attention to Notes 12 to 16 to the Statement, which explain that the Board commissioned an investigation/review into the alleged discrepancies, covering the following significant matters:

a. Internal Trades Derivative Accounting under the head “Other Assets” amounting to ₹1,959.98 crores being accumulated notional profits since FY 2015-16 have been written off as a prior period item in the current financial year.

b. Incorrect accounting and subsequent reversal of cumulative interest income of ₹673.82 crore and Fee Income

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