Earlier on November 20, 2018, the bank had stated that efforts were being undertaken for mutual resolution and truce between Rana Kapoor Group and Madhu Kapur and family, the two co-promoter groups of the bank.
The board has scheduled a special meeting on January 29 to finalise on the delegation of powers for transition management in the interim period commencing from February 1, 2019 until Ravneet Gill assumes office.
As communicated by the bank on September 24, 2018, the MD & CEO will be fully guided by its board of directors, the Reserve Bank of India and other relevant stakeholders, the bank said in a stock exchange filing.
The tussle is between the families of Yes Bank founders -- Rana Kapoor and Ashok Kapur. After the death of Kapur, his wife Madhu Kapur wanted her daughter Shagun Kapur Gogia to be nominated on the bank's board but the proposal was rejected, following which the matter reached the Bombay High Court.
The RBI had last month curtailed the three-year term that Yes Bank's board had sought for its MD and CEO Rana Kapoor, also one of the promoters of the bank, to January 31, 2019, and asked the bank to find a replacement.