As directed by Bombay high court, Yes Bank held its board meeting on Thursday to consider the nomination of Shagun Kapur, daughter of one of the bank’s co-founders. The board met in the afternoon and finished after 8 pm, it is learnt.

Earlier in the day, Yes Bank's corporate communications team said the outcome of the meeting would be conveyed only to the high court since the matter was sub judice.

The high court had earlier this month directed the bank to advance its scheduled board meeting from July 24 to June 27 after hearing the arguments for Madhu and Shagun Kapur.

Madhu Kapur had alleged in a suit that Rana Kapoor, CEO and MD of the bank, had attempted to keep them out of the bank’s functioning after the death of her husband, Ashok Kapur, in the Mumbai terror attack on November 26, 2008.

She alleged that Rana Kapoor had not consulted her in the nomination of three directors to the bank's board, in violation of the Articles of Association of the Bank and shareholders' agreements, which her late husband had signed with Rana Kapoor as promoter.