IndusInd Bank Ltd.’s board has approved relieving Arun Khurana from the additional responsibility of chief financial officer with effect from the close of business hours on Thursday, according to an exchange filing.
This change comes amid the private lender being under regulatory lens for discrepancies in its derivative portfolio.
In place of Khurana, the board approved the elevation of Santosh Kumar as the deputy CFO and special officer of finance and accounts. He will head these functions of bank with effect from Friday, April 18.
“Mr. Santosh Kumar is authorised in such capacity, to head the finance and accounts functions of the Bank till a full time CFO is appointed. The Board thanks Mr. Arun Khurana for discharging additional responsibility of CFO since January 21, 2025 and at the aforesaid meeting, relieved Mr. Khurana from this additional responsibility, with effect from close of business hours on April 17, 2025,” the lender said in an exchange filing.
On January 18, the board had appointed Khurana, who is currently serving as the whole-time director, as the deputy chief executive officer and key managerial personnel of the bank. He was also given charge of CFO from January 21.
Khurana’s appointment of the CFO had come right after erstwhile CFO Gobind Jain had resigned from his post, citing to pursue opportunities outside the bank or within the promoter group after having put in close to 3.25 years.
Khurana joined the lender in November 2011, and has been the deputy CEO since April 2020. He has also served as overall head of the bank’s global markets group.
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