News: Yes Bank's MD attempts truce, meets Madhu Kapur

C-Suite

Yes Bank's MD attempts truce, meets Madhu Kapur

Yes Bank Ltd managing director (MD) and chief executive officer Rana Kapoor on Saturday met Madhu Kapur in an attempted reconciliation, a person familiar with the matter told Mint. This is the first such meeting between the two promoter groups of the bank since Madhu Kapur filed a case in the Bombay High Court demanding the right to nominate a director on Yes Bank’s board.

Yes Bank Ltd managing director (MD) and chief executive officer Rana Kapoor on Saturday met Madhu Kapur in an attempted reconciliation, a person familiar with the matter told Mint. This is the first such meeting between the two promoter groups of the bank since Madhu Kapur filed a case in the Bombay High Court demanding the right to nominate a director on Yes Bank’s board.

“In the meeting Rana Kapoor verbally agreed to recognize Madhu Kapur’s right as a co-promoter in the bank but refused to allow nomination of a director in the bank’s board,” the person quoted above said. The meeting took place at the Worli flat of Madhu Kapur’s son Gaurav Kapur, the person said, adding that the meeting failed to reach any conclusion.

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Topics: C-Suite, #National

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