Yes Bank to inform HC on decision to induct Shagunhttps://indianexpress.com/article/news-archive/web/yes-bank-to-inform-hc-on-decision-to-induct-shagun/

Yes Bank to inform HC on decision to induct Shagun

The board of Yes Bank met here on Thursday to discuss and vote on the nomination of Shagun Kapur Gogia,the daughter of late co-founder Ashok Kapur

The board of Yes Bank met here on Thursday to discuss and vote on the nomination of Shagun Kapur Gogia,the daughter of late co-founder Ashok Kapur,to the board of the bank. Yes Bank,however,did not release the results of the vote,saying the decision would be submitted to the court.

“As the matter is sub-judice,the final decision of the board of directors of Yes Bank on the subject will be submitted to the Bombay High Court at its scheduled hearing on July 1 as per the court order,” the bank said in a release.

Yes Bank was told by the high court to advance its board meet from the scheduled date of July 24 after Madhu Kapur,wife of late Ashok Kapur,filed a petition seeking that the family’s nomination on the board of Yes Bank be considered.

Kapur had also sought to block the nomination of three directors appointed by Yes Bank saying the family,which holds over 12 per cent stake in the bank,had not been consulted.

The court in response had asked Yes Bank to consider the nomination of Gogia at its board meet. FE