IndusInd Bank

the former CEO of IndusInd Bank, has offered to pay Rs 5.21 crore as settlement charges to market regulator SEBI in order to settle the insider trading case against him, the Economic Times reported. Earlier in May, SEBI barred the former top executive of the private lender and few other officials from the buying, selling or dealing in securities for alleged insider trading. SEBI in its interim order noted that they traded in IndusInd Bank shares even after knowing that the derivative accounting issue will have a negative impact on the lender and its share price. SEBI alleged that these officials sold the shares to avoid the losses.