Kapur is also opposed to the appointment of the new directors because she, being a co-promoter, was not consulted about it. It will be nice as nobody wants a situation like this. (All in the family) The Kapurs tried to run out of the door but got separated. Since 2013, Madhu Kapur, who inherited the promoter holding from husband Ashok Kapur, has been fighting a legal battle for the joint nomination right and a board seat for her daughter, Shagun. Invoking her late husband in an emotional appeal, Madhu Kapur also addressed Yes Bank managing director and chief executive officer, Rana Kapoor. Radha, the eldest, who studied in the University of Arts in London and Parsons The New School for Design in New York, set up Doit Creations in 2009 to promote new creative ventures. Rakhee, the second, after her MBA from Wharton, did internship with YES Bank after taking permission from the board and worked without any remuneration. He also called it a one-sided dispute raised by Madhu. The Yes Bank's management was overtaken by state-owned State Bank of India in March after the RBI superseded its board. Rana subsequently declined to be interviewed for this article. Srinivasan, Ravish Chopra and Diwan Arun Nanda—were not “fit and proper” to serve on the bank’s board, the petition had said. The next hearing in the one-year-old case is on 19 June. Business Standard is happy to inform you of the launch of "Business Standard Premium Services". They were the shareholders of YES Bank, the countrys youngest private bank, and it was their annual general meeting. The two partners complemented each other well. Digital Editor. Team Business Standard, Remembering Subir Gokarn: The big-frame economist who loved the little things, PFC eyes bank stake to bolster payment security mechanism. In the entire annual report, you will not find any reference to the court order or even the suit filed by me. The SBI later bailed out the bank by infusing Rs 10,000 crore. The fight is decidedly not over money. We will certainly favour an out-of-court settlement, a person close to Madhu says. Kapoor said “Yes” to most risky borrowers till the regulator said “No” to him in late 2018. This tug of war continued for several years. There were ten items listed on the agenda, including the appointment of the three directors. MUMBAI: The Bombay High Court has ruled that Madhu Kapur, the widow of YES Bank’s co-founder Ashok Kapur and the legal heir, has the right to jointly nominate directors to the board of the bank that her late husband founded along with Rana Kapoor. Three days after the letter was sent, the 9th AGM of YES Banks shareholders was scheduled. It started with a premium dry cleaning service, Pressto India, which currently operates 16 stores in Mumbai and New Delhi. Till this year, Ashok Kapur’s name did not exist and now even the litigation does not exist. Madhu Kapur and her family took Rana Kapoor and Yes Bank to court in June 2013 demanding the right to nominate a director to the bank’s board under the articles of association of the bank. MUMBAI: Madhu Kapur, widow of YES Bank co-founder Ashok Kapur, has dragged the Dutch bank, Rabobank, into the family controversy which has now reached the Bombay High Court. The silent disagreements turned to open conflict when Rana Kapoor refused to give a board seat to Shagun Gogia in Yes Bank, the daughter of Ashok Kapur and Madhu Kapur (sister of Rana Kapoor’s wife, Bindu Kapoor). Yes Bank appointed new board and CEO after Rs 10,000 crore capital infusion by the State Bank of India (SBI) and half a dozen other banks post its takeover. Madhumalti Kapoor is an Indian film Actress, who has worked predominantly in Bollywood. The story however changed after the Kapurs decided to exit the status of promoters in Yes Bank. The Kapurs contested this and moved the court. Tomorrow is different. Are you 'fit' enough to be a bank director? Kapur gave strategic directions and left the day-to-day affairs to Rana to manage, says a senior executive of a global consultancy. Ranas wife, Bindu, and Madhu are sisters. "Bank has received a letter dated  May 28, 2020, from (i) Mrs Madhu Ashok Kapur; (ii) Mrs Shagun Kapur Gogia; (iii) Mr Gaurav Ashok Kapur; and (iv) Mags Finvest. A very good JUDGEMENT and reiteration of our faith in higher judiciary. For instance, I was representing the small-scale sector (he worked as secretary in the department of small-scale industries) and Radha Singh (former Union agriculture secretary) represented the farm sector, says he. Kapoor’s fate is hanging in balance as he is fighting a range of charges relating to quid-pro-quo deals, fraudulent transactions and RBI rule violations. 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