The Bombay High Court on Monday adjourned the hearing of Madhu Kapur’s amended petition against Yes Bank to August 12.

Madhu Kapur, widow of co-founder Ashok Kapur, on July 15 had contested the appointment of three directors – Rajat Monga, Sanjay Palve and Pralay Mondal on the bank’s Board at the meeting held on June 27.

The court had also allowed Madhu Kapur to seek additional documents from Yes Bank.

The Madhu Kapur’s family wanted the minutes of Yes Bank’s board meetings in 2009, 2012 along with and video recording of the meeting held on 27 June.

The private sector lender had sent its replies on July 23 to the amended petition filed by Madhu Kapur before the HC. The final hearing of which, now postponed, was to take place on July 29.

According to Yes bank, “in the context of rights to appoint directors or with respect to rights with regard to the management of the Bank, the reference to Indian Partners was to the two individuals (Late Ashok Kapur and Rana Kapoor) specifically” and does not hold true to the legal successors as per the Articles of Association of the bank.

On 15 July, the HC had directed Madhu Kapur’s lawyers to put the reply of the bank on record in the court. The copy of the same was received by the bank on Monday.

Earlier in June, Kapur moved court opposing appointment of three directors – Diwan Arun Nanda, Ravish Chopra and M.R. Srinivasan – did not meet he RBI’s guidelines citing the articles of association of the bank that say directors have to be appointed with the mutual consent of both the promoters.

As per the Articles of Association, the rights of the promoters get transferred to their legal successors, the Kapur camp claims.

The HC had allowed Madhu Kapur to nominate her daughter Shagun Gogia as Kapur’s representative on the bank’s Board. This was rejected by the bank saying she did not meet the “fit and proper” criteria of the Reserve Bank of India guidelines.

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