InvestorQ : What happens to Yes Bank now that even Madhu Kapur family has given up the status of promoters of the bank?
Priyanka N made post

What happens to Yes Bank now that even Madhu Kapur family has given up the status of promoters of the bank?

Answer
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NISHA Nayak answered.
4 months ago


After a prolonged and bitter legal battle with Rana Kapur, the Madhu Kapur (wife of Ashok Kapur) has decided to give up their status as Yes Bank promoters. She and her daughter Shagun Gogia had waged a long battle with Rana Kapur to gain board control after blaming Rana Kapur of unfair practices. After the fiasco in Yes Bank, the Madhu Kapur camp has drastically reduced its stake and now the family holds less than 1.5% in the bank. Post the rescue by SBI by infusing Rs.10,000 crore into Yes Bank, it is SBI which is the principal shareholder with a stake of 48.21%. Ashok Kapur was one of the co-promotes of Yes Bank along with Rana Kapoor and things had turned for the worse after Ashok Kapur was killed in the Taj terrorist attack in Nov-08. Clearly, with the latest crop of problems the Kapur family was not interested in continuing as promoters of Yes Bank any longer.