Rana Kapoor Demands for a seat in Board of YES Bank

YES Bank founder Rana Kapoor demands a seat to come back in board and also want the compensation of lost remuneration, Mukesh Sabharwal the chairman of the remuneration had left on Tuesday. Former CEO Ajai Kumar also quit on Monday.

Rana wants re-induction in board and crores in compensation as lost the remuneration. Many people see that the demand is entirely unreasonable and unfair. Rana Kapoor sent the 2 letters in board and it made a battle in boardroom.

Earlier RBI, refused the renewal term as CEO of Rana Kapoor last year. Some of the members believe that the one cannot go against the decision of RBI and now if someone is not fit for the position of CEO how could he perform in board of the same bank.

After RBI rejected Rana Kapoor as next CEO, 5 directors left the position including financial secretary Ashok Chawla.

Sabharwal said that he wants to give quality time on his academic carrier and hence has tendered his resignation.

Further YES Bank reduced the stake in Fortis Healthcare by 2% which is actually around 1.51 crores. The private sector bank has 8.76% shares in Fortis Healthcare. Shares of Fortis Healthcare closed on tuesday at  Rs. 132.55 on BSE( Bombay stock exchange).