IndusInd Bank Chairman Sunil Mehta Steps Down in January 2026: Leadership Transition Underway

Sunil Mehta was appointed Part-time Chairman effective January 31, 2023, following shareholder approval. He guided the bank through challenges like a massive quarterly loss from treasury errors and derivatives in early 2025. Directors, including Mehta, held frequent board meetings (over 180 in mid-2025), boosting sitting fees amid scrutiny.​

Key Highlights

Term End: Concludes January 30, 2026; FY25 compensation included ₹96.25 lakh sitting fees and ₹30 lakh fixed pay for oversight role.​

Governance Issues: Ex-CFO Gobind Jain accused cover-up of accounting lapses dating back years, seeking Mehta's removal; bank refuted claims and reported to regulators.​

Executive Changes: Oversaw resignations of CEO Sumant Kathpalia, Deputy CEO Arun Khurana, and CHRO; Rajiv Anand appointed MD & CEO from August 2025.​

Strategic Steps: Focused on retail lending shift, compliance strengthening, and FY26 recovery plan post-scandals.​

This smooth exit signals stability efforts.

Sources: The Economic Times, Moneycontrol, Business Standard, NDTV Profit.​