Compliance Champions: IndusInd Bank Taps Alwyn Jay & Co. for Half a Decade of Secretarial Audits

Image Source: The Economic Times

In a noteworthy move for governance, IndusInd Bank has revealed that it has appointed M/s. Alwyn Jay & Co., Practicing Company Secretaries, as its Secretarial Auditor for a five-year term starting from the financial year 2025-26. This decision highlights the Bank’s dedication to maintaining strong compliance and transparency as it continues to grow.

Key Highlights:

Long-Term Appointment: Alwyn Jay & Co. will take on the role of Secretarial Auditor for IndusInd Bank for five consecutive financial years beginning in FY26, ensuring a consistent and thorough approach to secretarial oversight.
Track Record of Compliance: The firm has previously performed secretarial audits for the Bank, including for FY 2023-24, and their reports have consistently shown no qualifications, reservations, adverse remarks, or disclaimers—demonstrating IndusInd Bank’s solid compliance culture.
Regulatory Alignment: This appointment is in line with the latest requirements under Indian corporate law and SEBI Listing Regulations, reinforcing the Bank’s commitment to meeting statutory obligations.
Comprehensive Audit Scope: Alwyn Jay & Co. will handle annual secretarial audits, provide secretarial compliance reports, and certify other regulatory requirements, thereby enhancing the Bank’s governance framework.
Recent Board Approvals: In addition to this appointment, IndusInd Bank’s Board has also approved changes in statutory auditors, with new firms set to take over from FY 2025-26, ensuring a refreshed and independent audit environment.

This strategic appointment is anticipated to further strengthen IndusInd Bank’s compliance mechanisms and boost stakeholder confidence as the Bank navigates an ever-evolving regulatory landscape.

Source: IndusInd Bank Corporate Announcements, Integrated Annual Report 2024.