You are here: Home » Companies » News
Business Standard

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)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

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