Kapoor vs Kapur: No truce talks between Yes Bank promoters

There is no dialogue for truce underway between Yes Bank's Rana Kapoor and his estranged sister-in-law Madhu Kapur or any of her children. This is what a source in the Madhu Kapur camp told ET Now on the condition of anonymity, and in reaction to recent media reports on truce talks being on between the two founding families of Yes Bank.

The source goes on to say Rana Kapoor's close aide has reached out on two separate occasions for a meeting but failed to confirm a date, time or venue for the same.

ET Now also learns that this close aide is Yes Bank Group President Rajat Monga, who has been with the company since inception.


"Mr Monga first wanted to meet on Friday Oct 5th but never did. He then sought to meet on Monday October 8th but never got in touch again to neither cancel nor fix another date, time and venue for a meeting. We never heard back," said the insider in the Madhu Kapur camp.

Rajat Monga reaching out is logical, says the source. "The Yes Bank Board at its last meeting decided to elevate Mr Monga to To Executive Director but for that to become a reality he will need our approval as per the Yes Bank Articles Of Association approved by the RBI and upheld by the Bombay High Court," said the source in the Madhu Kapur camp.

The Madhu Kapur camp had recently asked for Rana Kapoor to step down as MD & CEO with immediate effect and to overlap with the search for his successor. It also is against an insider being his successor.