Madhu Kapur raises corporate governance issues at YES Bank

Madhu Kapur raised corporate governance issues at Yes Bank Ltd in an affidavit filed in the Bombay high court on Monday in the case over the rejection of her daughter’s nomination as a director, Mint reported. These issues related to what she alleged was favourable treatment to the wife and daughter of managing director and chief executive officer Rana Kapoor. The court will hear the case on 12 August.

Madhu Kapur is the widow of Ashok Kapur, one of the promoters of Yes Bank along with Rana Kapoor. Rana Kapoor’s wife Bindu Kapoor and Madhu Kapur are sisters. Madhu Kapur’s daughter Shagun Gogia had been denied a seat on the board by Yes Bank.

Mint has reviewed the affidavit filed on Monday. In it, Kapur questioned whether the bank had applied the same corporate governance standards to Kapoor’s family as it did while considering Gogia’s nomination as a director.

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