Indusind Bank Limited has informed the Exchange about General Updates
INDUSINDBK · price
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IndusInd Bank has received RBI approval to appoint M/s. Borkar & Muzumdar as a Joint Statutory Auditor for FY 2025-26, replacing M/s MSKA & Associates which has completed its three-year statutory term as mandated by RBI guidelines. M/s. Chokshi & Chokshi LLP has been re-appointed for its second year as the other Joint Statutory Auditor. Borkar & Muzumdar will serve from the conclusion of the 31st AGM in 2025 until the 34th AGM in 2028, subject to annual RBI approval and shareholder approval at the upcoming AGM. The new auditor firm has over 75 years of experience, 18 partners, and more than 230 staff with a presence across 10+ states in India.
This is a routine auditor rotation as required by RBI's guidelines capping a statutory auditor's tenure at three consecutive years for banks. No governance concerns for shareholders — the change is procedural and was initiated by the regulator's framework. Pending shareholder approval at the 31st AGM.