Chairman Sunil Mehta earned Rs 96.25 lakh in sitting charges throughout FY25, greater than doubling from Rs 47.95 lakh within the yr earlier than. This payout is along with Mehta’s Rs 30-lakh fastened annual remuneration, which remained unchanged, confirmed the financial institution’s FY25 annual report. Mehta’s three-year time period is ready to finish on January 30, 2026. Individuals conversant in the matter advised ET that between March and August 2025, the board is known to have convened 180-200 conferences, considerably greater than in the identical interval final yr. In a number of situations, prolonged classes had been marked as recent conferences moderately than continuations, resulting in the upper payouts, the folks famous.
Board member Pradeep Udhas, senior advisor at KPMG, took residence Rs 84 lakh in sitting charges in FY25, a greater than threefold soar from Rs 25.20 lakh in FY24. One other board member, Bhavna Doshi, former senior advisor at KPMG, earned Rs 74.75 lakh, a 79% rise from Rs 41.65 lakh in FY24.
Responding to ET’s queries, IndusInd Financial institution mentioned the board had collectively discharged its fiduciary duties to totally safeguard the pursuits of the financial institution and its stakeholders amid the extraordinary and weird circumstances that arose following the disclosures on March 10, 2025.
“Following the exit of many of the designated key managerial personnel, the operations of the financial institution had been actively overseen by an oversight committee of the board, as directed by the regulator,” the financial institution mentioned. “As to remuneration and sitting charges, all funds are in full accordance inside the current limits, accredited by the shareholders and prescribed underneath rules.”
“Any allegations and insinuations on the contrary are fully repugnant, ill-informed, and baseless. The Financial institution rejects them outright,” it mentioned.
IndusInd administrators are paid Rs 1 lakh for attending every board assembly and Rs 75,000 for every board committee assembly. Among the many different board members, Akila Krishnakumar, former nation head at SunGard, earned Rs 66.50 lakh as sitting charges in FY25, a 64% surge from Rs 40.6 lakh within the yr earlier than. One other board member, Rajiv Agarwal earned Rs 60.25 lakh, a 70% rise from Rs 35.55 lakh in FY24.
Jayant Deshmukh earned Rs 45 lakh as sitting charges in FY25, up 79% from Rs 25.2 lakh within the earlier yr.
Rakesh Bhatia, who joined the IndusInd board in FY25, earned Rs 90 lakh in sitting charges throughout the yr, making him among the many highest-paid administrators when it comes to meeting-related payouts. Sudip Basu earned Rs 62.25 lakh in sitting charges in FY25, reflecting the sharp rise in board and committee conferences throughout the yr.
By way of conferences, the board convened 31 instances in FY25, up from 21 in FY24. The audit committee met 30 instances, in contrast with 25 within the earlier yr, whereas compensation committee held 15 conferences versus 12 earlier. The chance administration committee noticed the sharpest soar, assembly 14 instances in FY25 in opposition to simply 5 in FY24.
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