YES Bank told to hand over all documents to Madhu Kapur

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.

Once these are received, Kapur’s counsel will be filing an amended petition in court in the next hearing, on Tuesday. In the amended petition, Kapur is likely to challenge the resolutions passed at the bank’s annual general meeting.

Kapur’s counsel confirmed late on Friday they had received the correspondence from YES Bank.

YES Bank’s shareholders had approved all the 12 resolutions that were put to vote on June 14.

Apart from the financials, the resolution on the re-appointment of Rana Kapoor as managing director and chief executive officer of the bank, along with the appointment of other directors, was also put to vote.

Kapur, the second-largest shareholder had moved court, claiming her right as the bank’s co-promoter was violated and she wasn’t consulted before the bank had appointed a few directors on its board.

Currently, Kapoor has 11.87 per cent stake, whereas Kapur and her company owns 10.37 per cent.

Yes Bank