Yes Bank board to meet on Wednesday to settle row

MUMBAI: Yes Bank board that meets in Mumbai on Wednesday may discuss possible ways to settle the conflict between co-promoters Rana Kapoor and Madhu Kapur on nominating directors to the board, two people familiar with the matter said.

Recently, the Bombay High Court had asked the co-promoters of Yes Bank, Rana Kapoor and Madhu Kapur, widow of Ashok Kapur, to amicably settle their dispute. "The bank had mentioned that it needs time to come up with a concrete settlement plan. This would be done in consultation with the board," said a senior official in the know of the development. The bank board would meet in Mumbai on Wednesday to discuss the financial results for the year ended March 2014.

Yes Bank and Kapoor, its managing director and chief executive, did not respond to an email seeking comment. In an earlier interview to ET, Shagun Kapur Gogia, daughter of Madhu Kapur, who is also a party to the suit, had said any settlement should recognise her family's right to nominate directors. "Even if a settlement has to take place, it cannot be based on the withdrawal of the case," she had said.