IndusInd Bank will be examining the possibility of insider trading based on the findings of an independent review report by Grant Thornton which stated that the lender's CEO Sumant Kathpalia and deputy CEO Arun Khurana traded in its shares while being aware of accounting lapses at the bank but before those were made public.

Both Kathpalia and Khurana resigned from the bank soon after Grant Thornton submitted its report on 26 April.

The global audit and advisory firm had in an independent review found issues that may need to be examined from an "insider trading perspective".

"The report has identified certain aspects which may require a determination from an insider trading perspective," IndusInd Bank said in an exchange filing.

"The bank is examining these findings in the report. Based on the outcome of such examination, the bank will take the necessary steps under applicable law including the bank's Insider Trading Code," the lender added.

Grant Thornton was hired by IndusInd Bank to conduct an independent forensic investigation. 

In his resignation letter last month, Kathpalia said he was taking "moral responsibility", while Khurana resigned citing "unfortunate developments".