YES Bank Hits 52-Week Low on Corporate Governance Issue

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Promoters relative Madhu Kapur raised corporate governance issues at bank in an affidavit filed in the Bombay high court, report.

YES Bank has tanked over 14% to Rs 299, also its 52-week low on BSE, on PTI reports that the Reserve Bank of India (RBI) said that it is seized of the ongoing boardroom battle at private lender and may make necessary changes in the required norms on appointment of directors on bank boards, if needed.

Yes-BankMeanwhile, the Mint report suggests that Madhu Kapur,  widow of Ashok Kapur, one of the promoters of Yes Bank, raised corporate governance issues at the bank in an affidavit filed in the Bombay High Court.

These issues related to what she alleged were favorable treatment to the wife and daughter of managing director and chief executive officer Rana Kapoor. The court will hear the case on 12 August.

The stock opened at Rs 350 and has seen a combined 4.94 million shares changing hands till 0944 hours on BSE and NSE.

(Media Report)

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