CNBC-TV18 learns from the council that Rana Kapoor is currently out of the country and he is expected back on Friday. So, one could expect some movement on conciliation on the weekend - April 12 and 13.
After a long standing dispute between the promoters of Yes Bank , some headway has been made in the form a conciliation settlement. Rana Kapoor of Yes Bank moved the division bench of the Bombay High Court in a promoter feud and the court has advised parties to settle dispute amicably through talks.
Yes Bank's Rana Kapoor has moved the Bombay High Court against the previous Bombay High Court order, which refused Rana Kapoor's appeal of dismissing Madhu Kapur's appeal. While hearing the matter, the judge made an important observation and said that the parties could consider not necessarily an out of court settlement, but some kind of conciliation. Both the parties took a note of this idea and responded positively.
Also Read: Yes Bank raises $500m in foreign currency loans, deposits
CNBC-TV18 learns from the council that Rana Kapoor is currently out of the country and he is expected back on Friday. So, one could expect some movement on conciliation on the weekend - April 12 and 13.
After Madhu Kapur's daughter was denied a seat on the board of directors of Yes Bank first in 2009 then in 2012, she filed a suit in the Bombay High Court challenging the appointment of three directors on the board of Yes Bank, which played out in the form of an ugly spat between the two promoters. Madhu Kapur is the widow of the former Yes Bank promoter who passed away in 26/11 attack. This ugly dispute has played out for the better half of the last one year, but one is now beginning to see some signs of conciliation.
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