Comments
YES Bank will declare the result of the voting on the resolution relating to the appointment of three directors on Monday.
A group led by Madhu Kapur, one of the largest shareholders with 12 per cent stake, forced a vote over the appointment of Ravish Chopra, Diwan Arun Nanda and M.R. Srinivasan as whole-time directors.
Madhu Kapur, widow of late Ashok Kapur, co-founder of the bank, and a few other shareholders had called for a vote on the issue after Madhu said they were not consulted on the appointment. A close associate of the family said that this is against the bank’s Article of Association.
Shares of bank closed at Rs 503.10, down 0.88 per cent, on the Bombay Stock Exchange on Friday.
>satyanarayan.iyer@thehindu.co.in
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.