HC proposes amicable solution to Yes Bank Tussle
Ms Kapoor, widow of Ashok Kapur, is fighting a legal battle against bank’s MD and CEO Rana Kapoor over the directorship of the bank.
By ET Online | Updated:
MUMBAI: The Bombay High Court today proposed an amicable settlement to the ongoing legal tussle between Ms Kapoor, widow of Yes Bank co-promoter Ashok Kapur and Yes bank's MD and CEO Rana Kapoor over the directorship of the bank.
The Court has suggested that both the shareholders can explore the possibility of reducing their stake to below 10 per cent. The Court will next hear the case on May 12.
In 2009, Yes Bank's board had rejected the candidature of Shagun Kapur Gogia, daughter of late Ashok Kapur on the ground that she may not meet the requirements of the fit-and-proper clause.
In June 2013, Madhu Kapur group objected to the appointment of six directors and pressed for the nomination of Gogia.
At 11:35 a.m.; the stock was at 809.40, down 1.44 per cent, on the BSE. It fell 1.83 per cent to touch intraday low of Rs 806.15.
The Court has suggested that both the shareholders can explore the possibility of reducing their stake to below 10 per cent. The Court will next hear the case on May 12.
In 2009, Yes Bank's board had rejected the candidature of Shagun Kapur Gogia, daughter of late Ashok Kapur on the ground that she may not meet the requirements of the fit-and-proper clause.
In June 2013, Madhu Kapur group objected to the appointment of six directors and pressed for the nomination of Gogia.
At 11:35 a.m.; the stock was at 809.40, down 1.44 per cent, on the BSE. It fell 1.83 per cent to touch intraday low of Rs 806.15.
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