Yes Bank board meets on Shagun nomination; decision to be relayed 'only to HC'

GN Bureau | June 28, 2013



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. 

Comments

 

Other News

In Arunachal, a river we call mother

In Arunachal Pradesh, the Siang is not just a river. For many of us, especially the Adi people, it is part of our family. Our grandparents fished in it. Children learned to swim in it. Our farms drink from it. When someone says a huge dam will be built on it, we do not hear the word "project".

A new retelling of the Mahabharata delves into key moments

In a time when every decision carries consequences and questions of ambition, power, loyalty, identity and moral choice continue to shape our lives, Dr. Arun Krishnan’s new book, ‘Mahakshana’ (Penguin India) offers a strikingly relevant retelling of the Mahabharata.  

Cabinet approves viability gap funding to develop grid-scale energy storage systems

The Union Cabinet, chaired by PM Narendra Modi, has approved the Viability Gap Funding (VGF) Scheme for Development of Grid-Scale Energy Storage Systems, with a total financial support of Rs.14,500 crore for the period FY 2026-27 to FY 2030-31. The scheme aims to support the development o

Cabinet creates a pathway to absorb Agniveers in Defence Forces

An objective assessment in terms of organisational requirements and operational efficiency has brought out the outstanding performance of Agniveers in terms of skills, motivation levels, physical fitness and technological prowess. As envisaged earlier, based on merit, 25% of Agniveers will be offered reg

Modi inaugurates, lays foundation stone of Pune Metro projects

Prime minister Narendra Modi inaugurated and laid the foundation stone for Pune Metro projects worth around ₹21,800 crore on Tuesday through video conferencing. Addressing the gathering on the occasion, the PM extended warm Diwali greetings to the people of Pune and Maharashtra and remarked that f

Wired for good: Building sustainable cities with AI

The First Industrial Revolution in the 18th-19th centuries ushered in a paradigm shift in how cities were imagined. Fueled by railways, factories and grids, and obsessed with speed and scale, it was an ode to efficiency, which spurred unprecedented economic growth. Now, as the Fourth Industrial Revolutio

Upcoming Conferences



-->

Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter