The promoters of Yes Bank Ltd, India’s fourth largest private sector bank by assets, may be set for a battle in the courts over the appointments of directors since Madhu Kapur, wife of the late promoter Ashok Kapur, is unlikely to succeed in stalling their nominations through a postal ballot, two people close to the development told Mint.
“We know that we will not be able to swing this vote. Yes Bank has enough shareholders, not to forget their company staff with employee stock options who will not go against their boss and, hence, have gone to court. Ultimately, the court order will have to be adhered to,” said one of the people who is authorized to speak on behalf of the Madhu Kapur group. Both the people declined to be named.
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