InduInd Bank’s chief financial officer Gobind Jain on January 18 resigned from his position to pursue other professional opportunities, the lender said in a stock filing.
The top executive resigned on January 17 and will cease to be key managerial personnel of the bank effective from the closing hours of January 20, the statement said. He will be serving a mandatory notice period of 90 days and assist with the transition process, the company statement said.
Jain will be replaced by Arun Khurana, who is currently the whole-time director (executive director) and deputy CEO. He will take over the role of CFO as an additional charge with effect from January 21 in addition to his present role and responsibilities, the filing said.
Khurana joined the company in November 2011 and has been the deputy CEO of the bank since April 2020. He is also the overall head of the bank’s global markets group (GMG), transaction, banking group (TBG), investment banking, financial institutions & public sector, financial restructuring & reconstruction group (FRRG), centralized fraud monitoring unit (CFMU), pan bank liabilities group (PBLG), according to the filing.
Khurana is qualified as a Chartered Accountant and has over 30 years of banking experience.
Meanwhile, the bank on January 17 had announced that a penalty of Rs 7.08 crore has been imposed for “various GST issues”. The lender said it will appeal the order issued by the Tamil Nadu Sales Tax Appellate Tribunal, (Main Bench), Chennai. The order said the lender did not report the turnover regarding sale of repossessed vehicles in the VAT returns.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
