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Beleaguered lender IndusInd Bank's shares will be in focus in early trade on Tuesday, April 29, after the bank's Deputy CEO resigned from his position, amid the ongoing discrepancies in the lender's derivatives portfolio.

"Considering the recent unfortunate developments, wherein the Bank determined an adverseaccounting impact on P&L, on account of incorrect accounting for internal derivative trades, I having oversight of the Treasury Front office function, as the Whole Time Director, Deputy CEO and a part of Senior Management of the bank, hereby resign, effective immediately," said Arun Khurana, the former senior management personnel, in his resignation letter.

Arun Khurana further wrote that he will help in transitioning his responsibilities to ensure a smooth handover.

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The resignation comes after IndusInd Bank's board of directors announced that they are taking 'necessary steps' to fix accountability of the persons responsible for the accounting lapses and realign roles and responsibilities of senior management after an independent firm submitted its report to the bank on April 26, 2025.

"The bank will appropriately reflect the resultant impact of the accounting discrepancies in the financial statements for FY 2024-25 and take measures to strengthen internal controls accordingly," it said in the filing. The Bank has already discontinued internal derivative trades.

Earlier, IndusInd Bank said that accounting lapses in the derivative portfolio will have a negative impact of Rs 1,979 crore on the bank’s networth. The bank has assessed an adverse impact (on a post-tax basis) of 2.27 per cent to its net worth as of December 2024 on account of discrepancies relating to derivative deals.

The private sector lender last month reported the accounting lapses in the derivative portfolio estimated to have an adverse impact of approximately 2.35 per cent of the bank’s net worth as of December 2024.

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