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This article is more than 2 year old.

Yes Bank promoter Madhu Kapur urges board to send Rana Kapoor on leave, says report

Yes Bank promoter Madhu Kapur urges board to send Rana Kapoor on leave, says report
Yes Bank promoter and wife of cofounder, the late Ashok Kapur, Madhu Kapur has written a letter to the board urging that MD and CEO Rana Kapoor should be sent on leave as she feels that he may influence the selection of new CEO, reported Economic Times.
"The board must take a strict view of matters and not even permit Mr Rana Kapoor to attend the board meeting,” Kapur has stated in the letter addressed to eight board members, the company secretary and Rana Kapoor, the report said.
Kapur's letter came right after the Reserve Bank of India's (RBI) directive that Rana Kapoor should step down by end-January.
"There is information in public domain that influential defaulting customers accounts have been camouflaged to avoid the disclosures to the RBI and to make a report to the board and RBI in that behalf and to recommend the remedial steps to ensure that the same do not occur again,” she wrote.
"It is absolutely necessary at this juncture that the board gives a message not only to the Reserve Bank of India as the banking regulator but also to all stakeholders that the board is serious in addressing the real issues that affect the bank and are taking decisions and actions accordingly," the letter stated.
Yes Bank was started by Ashok Kapur and Rana Kapoor and after Kapur's death in the 26/11 terrorist attack, his widow Madhu entered into a legal battle with Rana Kapoor.
“The media publicity has increased the fears of all shareholders in the well-being of the bank and its uncertain future and the ability of the bank to remedy the wrongs that have occurred due to deliberate machinations rather than any other factors,”  Madhu Kapur added.