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Journalism of Courage
The Bombay High Court today deferred the hearing on petition filed by Madhu Kapur seeking a direction to Yes Banks board to appoint her daughter Shagun Kapur-Gogia as a nominee director,as the banks lawyers opposed certain amendments made by Kapur to her petition.
Last week Madhu Kapur had sought leave to amend the petition,following the banks decision not to appoint Gogia daughter of Madhu and her late husband,Yes Banks co-founder Ashok Kapur as a director.
The list of amendments sought to be made was submitted today before Justice S J Kathawala. But the banks lawyers opposed the amendments,saying they disclose a different cause of action,which is not a part of the petition. Following this,the court postponed hearing to July 15.
Madhu and the Yes Bank board are embroiled in a dispute over the nomination of directors. After Ashok Kapur died in the November 2008 Mumbai terror attacks,Madhu nominated Shagun as the legal heir to Ashoks 12 per cent stake in the bank.
Yes Bank was founded by Ashok Kapur and Rana Kapoor,who is married to Madhus younger sister Bindu. The tussle between the two families is over a board seat. Rana Kapoor,who owns 13.7 per cent in the bank,is the managing director and chief executive.
