Mumbai: The Bombay high court on Friday said two directors eligible for reappointment on the board of Yes Bank Ltd should not assume office till 18 June.

The appointments of Diwan Arun Nanda and M.R. Srinivasan as directors were among the resolutions put forward to the shareholders for the bank’s annual general meeting (AGM), which is to be held on Saturday. The order means both directors cannot assume office even if investors approve a fresh term.

After two years, the Bombay High Court passed an order in the YES Bank and Madhu Kapur case on Thursday. However, the order is yet to be made public. The judge has asked the two parties to go in for a further round of mediation. Both parties will receive a copy of the order and the round of mediations will be based on it. The next hearing is scheduled for June 17.

In 2013, the dispute between the promoters of YES Bank over board-level appointments had come to light ahead of the bank’s annual general meeting (AGM). The judgment was passed two days ahead of the AGM scheduled on Saturday.

Mumbai: The Bombay high court on Wednesday said that the court-convened meeting between the two parties in the Yes Bank Ltd versus Madhu Kapur case will continue on 2 June.

The case relates to the two-year-long family dispute between Yes Bank’s two largest shareholders Rana Kapoor and Madhu Kapur.

MUMBAI: The Bombay high court has proposed an amicable settlement to the tussle in the Yes Bank case. The high court has posted the next hearing in the case for May 12.

The Madhu Kapur camp had earlier filed a revised petition before the HC against the appointment of three new whole-time directors. Alleging lack of corporate governance at the bank, the Madhu Kapur faction, whose request for appointment of Shagun Gogia as a director had been rejected by Yes Bank, also sought the court intervention to protect their interest.

The near two-year old court battle between YES Bank and Madhu Kapur may finally come to an end in the Bombay high court on May 12.

On Thursday, the court suggested that both the parties should try and settle the dispute amicably but the final order has been reserved for Tuesday.

Private sector lender YES Bank announced its international foray by launching its first International representative office in Abu Dhabi, UAE.

Here, the bank will provide services for unique investment needs of the Indian diaspora in the Gulf city through their flagship Global Indian Banking program which comprises of NRE/ NRO savings account & fixed deposits, foreign currency fixed deposit and YES First wealth management programme among others.

MUMBAI: Yes Bank is gearing up to become the third Indian bank to have its shares listed on American stock exchanges. The youngest private bank has received a go-ahead from its board to raise up to $1 billion by way of American Depository Receipts or through a Qualified Institutional Placement. The permission follows a proposal to hike investment by foreign investors to 74% of the bank's paid-up share capital from the existing limit of 49%.

Shares of YES Bank were trading higher by 4% at Rs 825, extending its previous day’s 1.5% gain on the National Stock Exchange (NSE), after reporting a 28% year-on-year (y-o-y) rise in net profit at Rs 551 crore for the quarter ended March 2015 (Q4), on back of higher interest income and a healthy growth in advances to retail and small and medium enterprises (SME).

Net interest income rose 36% to Rs 977 crore despite a flat net interest margin sequentially at 3.2%, marginally up from 3% from the year-ago period. The non-interest income grew 32% to Rs 590 crore on yoy basis.

Private sector lender YES Bank today reported a Q4 net profit of Rs 551 crore, an annual rise of 28%.

The asset quality ratios were flat, with net NPA at 0.12% compared to 0.10% in the previous quarter. Gross NPA came in at 0.41% compared to 0.42% in Q3.

YES Bank on Friday launched the RuPay Debit Card, in association with NPCI. It is a domestic debit card and will be accepted at over 190,000 ATMs and one million point of sale (PoS) terminals in the country.

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