Jul 10, 2013, 09.57 PM IST
The Yes Bank family feud over board membership refuses to die. Madhu Kapur, who is the widow of late Ashok Kapur, one of the promoters of Yes Bank; on Wednesday filed an amended petition before the Bombay High Court challenging the corporate governance of the bank, reports CNBC TV18.
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Yes Bank feud: Madhu Kapur files amended petition in court
The Yes Bank family feud over board membership refuses to die. Madhu Kapur, who is the widow of late Ashok Kapur, one of the promoters of Yes Bank; on Wednesday filed an amended petition before the Bombay High Court challenging the corporate governance of the bank, reports CNBC TV18.
Like this story, share it with millions of investors on M3
Yes Bank feud: Madhu Kapur files amended petition in court
The Yes Bank family feud over board membership refuses to die. Madhu Kapur, who is the widow of late Ashok Kapur, one of the promoters of Yes Bank; on Wednesday filed an amended petition before the Bombay High Court challenging the corporate governance of the bank, reports CNBC TV18.
The Yes Bank family feud over board membership refuses to die. Madhu Kapur, the widow of late Ashok Kapur, one of the promoters of Yes Bank; on Wednesday filed an amended petition before the Bombay High Court challenging the corporate governance of the bank, reports CNBC TV18.
Earlier in June, Madhu Kapur filed a case against Yes Bank alleging that her family was denied its right to be consulted on the appointment of three directors — Ravish Chopra, Diwan Arun Nanda and MR Srinivasan — on the bank's board as provided for in the bank's Articles of Association. Later, she claimed a seat for her daughter Shagun Kapur Gogia in the bank's board.
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In the amended petition, her counsel raised questions on the appointment of six directors on the board. They include the above mentioned three directors and Sanjay Palve, Ravish Chopra as well as Pralay Mondal.
The bank had refused Shagun's entry into the board on grounds of merit. She had to make a lot of disclosures while applying for the post of director on the board. The new petition sought clarification as to why a similar process was not followed in case of other appointed directors.
It is learnt that the petition also questioned the appointment of Srinivasan, citing age limit as per the company laws.
Ashok Kapur was killed in the Mumbai terrorist attack in 2008. Madhu currently holds 12 percent stake in the bank while Rana Kapoor, MD & CEO of the bank holds 13.72 percent. Rana Kapoor's wife Bindu Kapoor and Madhu Kapur are sisters.
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