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The history of the YES Bank feud

Timeline of developments since bank was incorporated in 2003 to the current feud

BS Reporter  |  Mumbai 

November, 2003
- YES Bank is incorporated

March, 2004
- Promoters Rana Kapoor and Ashok Kapur, and key investors including Rabobank infused capital.

November 2008
- Ashok Kapur, the then chairman of YES Bank passes away in 26 /11 Mumbai attacks

April 2009
- Madhu Kapur expresses interest to be inducted into the bank board
- Proposal gets rejected citing RBI's 'fit and proper' criteria

June 5, 2013
- Madhu Kapur sends written request to YES Bank chairman M R Srinivasan and to Rana Kapoor to induct her daughter Shagun Kapur Gogia as her nominee on the bank's board.

June 6, 2013
- Rana Kapoor writes letter to Madhu Kapur citing regulatory issues to induct Gogia on the board
- Madhu Kapur files petition in Bombay High Court to issue a stay on the AGM where there is a resolution to appoint three new directors of the Bank

June 7,2013
- Bombay HC refuses to grant stay on AGM; however says that the appointments of these three individuals shall be subject to the further directions of the Court

June 8, 2013
- YES Bank holds ninth AGM; Madhu Kapur attends it with daughter Shagun Kapur Gogia and son Gaurav Kapur
- 7 out of 10 resolutions passed by majority shareholder
- 3 resolutions to appoint Ravish Chopra, Diwan Arun Nanda and M R Srinivasan opposed
- Ballot voting conducted on these issues, which is closely monitored by both parties (outcome in 48 hours)

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First Published: Sat, June 08 2013. 20:04 IST