HC for settlement in Yes Bank case
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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.
While Madhu Kapur and her two children (Shagun Gogia and son Gaurav Kapur) jointly hold 12% interest in the bank, the current MD and CEO Rana Kapoor, who along with the late Ashok Kapur, co-founded the bank in 2003, holds 13.7%. Madhu's sister is married to Rana.
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