New Delhi: Securities and Exchange Board of India (SEBI) on Wednesday issued instructions to ban former IndusInd Bank CEO, and four other persons from participating in securities market activities. The regulatory body has also imposed Rs 19.78 crore from them through interim instructions.Other officials facing sanctions include Arun Khurana, who served as Executive Director and Deputy CEO; Sushant Sourav, who led the Treasury Operations; Rohan Jathana, who managed GMG operations; And Anil Marco Rao, who held the post of Chief Administrative Officer in Consumer Banking Operations.SEBI said in his statement, “All notice, that is,. Notice nos. 1 to 5, by this to buy, sell or deal in securities, either direct or indirectly, in any manner, to further orders, “.News agency PTI reported that senior officials allegedly operated trades in IndusInd Bank shares during reaching unpublished price-sensitive information (UPSI), violating the Insider Trading Rules, the news agency PTI said.The issue arose from a master direction issued by the Reserve Bank of India (RBI), which greatly influenced the operation of IndusInd Bank. The bank’s internal personnel assessed the financial results of the instructions and organized non-public information during this period.SEBI investigation reportedly revealed that these five persons conducted business activities before sensitive information, became public knowledge, used their privileged access for confidential information for potential financial benefits.SEBI had announced that it was investigating the potential violations by the senior management of the bank, it came a few days later, estimating Rs 3,400 crore.Read more: SEBI investigated senior management of IndusInd Bank for ‘arrogant violation’
