Gobind Jain, the former Chief Financial Officer of IndusInd Bank, has initiated a ₹70 crore lawsuit against the bank in the Bombay High Court, alleging wrongful termination. Jain is claiming ₹20 crore for lost earnings and an additional ₹50 crore for reputational damage, loss of employment opportunities, and mental trauma. The Reserve Bank of India (RBI) has also been named in the case. Jain's legal team from Wadia Ghandy argues that the bank should be directed to deposit ₹20 crore to ensure that the compensation does not become illusory. Jain's petition outlines a series of events leading to his resignation, including multiple resignation letters starting in April 2024, where he urged the bank's then Managing Director and CEO, Sumant Kathpalia, to appoint an external auditor to investigate serious lapses within the bank's treasury operations. Jain's first resignation letter was sent on June 11, 2024, nearly ten months before the bank disclosed accounting issues to stock exchanges.