*SEBI bans Ex-IndusInd CEO alleging Insider Trading linked to Rs. 1500 Cr accounting error!* Here’s what happened 👇 India’s market regulator SEBI has dropped a regulatory bombshell, barring Sumant Kathpalia, the former CEO of IndusInd Bank, along with four senior executives, from trading in the securities market. But why did the regulator do this? Well, SEBI found that these executives sold IndusInd shares while in possession of unpublished price-sensitive information (UPSI). Let's break it down. There was a massive discrepancy in the bank’s derivatives accounting, one that wasn’t disclosed to the public until months later. The accounting issue reportedly involved over Rs 1,500 crore in potential losses. After the disclosure of this news, IndusInd Bank’s stock plunged nearly 27%. SEBI believes the accused were aware of this information before it was disclosed, and they made gains by selling shares before this hit the news.