YES Bank on Thursday agreed not to make any changes in the composition of its board till the hearing on the petition filed by Madhu Kapur questioning the appointment of six directors is going on in the Bombay High Court. This comes after the court expressed displeasure over the appointment of retired Indian Administrative Service officer Radha Singh as the non-executive chairperson.

On Day One of the final hearing of the ongoing court case between YES Bank and Madhu Kapur, the latter's counsel said the lender tried to de-classify her as promoter of the bank, citing communications between the bank and the Reserve Bank of India (RBI).

Kapur's counsel presented copies of the correspondence between the two institutions during 2010-13 to challenge the promoter status of Kapur, the second largest shareholder.

YES Bank has reported a 9.6 per cent growth in net profit to Rs 439 crore for the April-June quarter.

Gains from treasury income have been muted, though net interest income (NII) was higher by 13 per cent. The net profit was three per cent below the Bloomberg estimate of Rs 452.6 crore.

Mumbai: Yes Bank Ltd on Tuesday approached the Supreme Court challenging an order by a two-judge bench of the Bombay high court on the maintainability of a suit filed by Madhu Kapur, the widow of Yes Bank co-founder Ashok Kapur.

The Supreme Court admitted the bank’s plea and has scheduled a hearing in January 2015, Yes Bank said in an emailed statement on Tuesday.

Madhu Kapur, the second-largest shareholder of YES Bank, filed an amended suit in the high court here on Friday, challenging the resolutions passed at YES Bank's annual general meeting (AGM) on June 14.

Kapur has challenged the appointment of directors and the reappointment of Rana Kapoor as managing director and chief executive.

The high court on Tuesday directed YES Bank to give it a video recording of the bank's AGM held on June 14 by Wednesday morning. The order pertains to a plea filed by Madhu Kapur, wife of the bank's late co-promoter, Ashok Kapur. In the plea, Madhu Kapur claimed her right as co-promoter was violated, adding she wasn't consulted before the lender had appointed directors on its board.

The Bombay High Court directed YES Bank on Friday to hand over all the documents pertaining to the bank’s communications with the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (Sebi) on challenging Madhu Kapur’s promoter status, to her counsel by the evening.

On June 12, the bank had given the same direction but Kapur’s counsel said not all the letters were received.

YES Bank’s shareholders have approved all the 12 resolutions that were put to vote on Saturday at the bank’s 10th annual general meeting (AGM). Apart from the financials, the resolution on re-appointment of Rana Kapoor as managing director and chief executive officer (MD & CEO) of YES Bank, along with the appointment of other directors was also put to vote.

YES Bank’s shareholders, at their annual general meeting on Saturday, approved the official resolution on re-appointment of Rana Kapoor as managing director and chief executive officer, along with other directors, sources told Business Standard.

The high court here on Thursday said Madhu Kapur, widow of YES Bank co-founder Ashok Kapur, would be allowed to challenge all the resolutions that might be approved at YES Bank’s annual general meeting (AGM) on Saturday.

At the AGM, shareholders will vote on seven resolutions, including the appointment of directors, which had first led Kapur to challenge Rana Kapoor, the bank’s managing director and chief executive, in court.

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