Fino Payments Bank Limited informed stock exchanges that its Managing Director and CEO, Rishi Gupta, was arrested on February 27, 2026, under provisions of the CGST and SGST Act, 2017. The bank clarified that the investigation relates to business partners, with no current impact on operations.
Fino Payments Bank Limited has officially disclosed to BSE Limited and the National Stock Exchange of India Limited that its Managing Director and CEO, Rishi Gupta, has been arrested under Section 132(1)(a) and 132(1)(i) of the CGST and SGST Act, 2017, respectively.
The arrest took place on February 27, 2026, with the Ground of Arrest issued at 03:55 a.m. (IST). The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
In response, the Board convened a special meeting and appointed Chief Financial Officer Ketan Merchant as Head of the Organization to oversee daily operations until further resolution or until Rishi Gupta resumes office.
Key Highlights
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Arrest executed under Section 132(1)(a) and 132(1)(i) of the CGST and SGST Act, 2017
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Investigation pertains to business partner(s) of the bank, not the bank’s GST compliance
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No other bank officials are involved; management is cooperating with authorities
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No immediate financial or operational impact reported on the bank
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Matter disclosed to the Reserve Bank of India and stock exchanges
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The bank stated that it is actively taking appropriate measures to address the situation and will make further disclosures if required.
Source: Fino Payments Bank Limited Regulatory Filing To BSE And NSE