Page 54 - Yes Bank

YES Bank shares plunge 12%, lowest in 32 months, on ratings downgrade

Ratings agency Moody's on Tuesday downgraded the bank's instruments and changed its outlook on the bank from stable to negative

Yes Bank's promoter shareholders deny commercial dealings with the lender

Morgan Credits and Yes Capital are holding companies owned by Rana Kapoor's daughters

Will name new chairman, independent directors to RBI on Dec 13: Yes Bank

Yes Bank Wednesday said its board on December 13 will recommend names for new chairman to be approved by the RBI as well as consider appointment of independent directors. The private sector lender, which is grappling with governance as well as NPA issues, has seen resignations of three independent directors, including Chairman Ashok Chawla. In a regulatory filing, the bank said its Nomination & Renumeration Committee (N&RC) of the board and the board of directors are scheduled to meet on December 13. During the meetings, they would consider proposals for appointment of independent directors and also recommend name(s) of the new chairman for approval of the RBI, it added. Yes Bank also reiterated that it is on track to find a successor to MD and CEO Rana Kapoor and said the resignations of the three board members will have no impact on the succession plan. Chairman Ashok Chawla, Vasant Gujarathi and Rentala Chandrashekhar have quit the bank on various reasons including on ...

YES Bank falls over 14% in two days as Moody's downgrades bank's rating

The stock slipped 12% to Rs 162 on Wednesday, extending its 2.5% decline in the previous session on BSE in an otherwise firm market.

Moody's slashes YES Bank's rating to junk status; bonds see record drop

Bank is in midst of management transition amid resignations

Equal rights sticking point in YES Bank promoters' talks to end conflict

If the peace proposal goes through, the two promoter groups will jointly recommend the successor to Rana Kapoor

YES Bank promoters conflict: Kapoor may smoke peace pipe with Kapur

According to sources close to Kapoor, whose new- three-year term was curtailed by RBI in mid-September, progress has been made following an "exchange of notes" last Thursday with Madhu Kapur

Moody's downgrades YES Bank, changes outlook to negative on governance woes

Board resignations, coupled with RBI cutting Rana Kapoor's term, raise corporate governance concerns, says ratings agency

YES Bank slips over 2% as RBI begins inspecting bank's exposure to NBFCs

Shares of YES Bank slipped as much as 2.1 per cent to Rs 184 in the intra-day trade on NSE after a news report suggested that the RBI on Monday began examining the private bank's exposure to NBFCs

YES Bank's promoter firms prepay Rs 4 billion of loans to mutual funds

Interestingly, the day the rating was reaffirmed, the share price of YES Bank was down 50% in three months

YES Bank's Kapoor family repays Rs 4 billion to two mutual funds

Rana Kapoor had said he did not intend to sell his holding in the bank, even after he leaves the bank

Governance questions

Independent directors are doing little to enhance their reputation

Yes Bank board to meet on December 13, look to replace board members

Experts say The bank's outlook and governance record has been marred after the resignation of three board members over the last two weeks

Quit YES Bank board over no focus on finding next MD & CEO: Chandrashekhar

Former independent director of YES Bank Rentala Chandrashekar quit the board as he was not happy with the recent developments in the bank, which seemed non-focussed to find a successor of its MD & CEO Rana Kapoor, sources said Wednesday. The former bureaucrat wanted the bank to focus on finding a successor for Kapoor rather than indulging in issues such as shake up in the board composition and the likes, sources told PTI. When contacted, Chandrashekhar confirmed in the affirmative on the reason behind his departure from YES Bank and refused to divulge anything further. Also, he also confirmed that the management, including Kapoor, had wanted him to stay with the bank. "That's correct," said the former telecom secretary. Sources said that Chandrashekar was of the view that the bank should have been focussing on the transition and making sure that there was an orderly transition instead of having all the turbulence, including churn in the board and the selection committee to find a

Rattled by resignations, YES Bank calls crucial board meeting on Dec 13

Rattled by the resignation of three Board members, Yes Bank, India's fourth largest private sector lender has got into the damage control exercise. The Board meeting will now take place on December 13 to discuss among other things the appointment of chairman, chief executive and independent director.After the resignation of three Board members-Ashok Chawla, Vasant Gujarathi and Rentala Chandrashekhar-Yes Bank on Tuesday said the Board would now "consist of 7 members with the addition of one Board member Uttam Prakash Agarwal concurrently."In the statement issued by Brahm Dutt, chairman, Nomination and Remuneration Committee (N&RC) and Rana Kapoor, MD and CEO, the duo said: "All the 7 Board members are fully committed to discharging their duties on the Board, as also enabling Yes Bank to manage and emerge from the current transition period."The duo have reiterated in the letter that the latest resignations "bear no impact on the new MD and CEO selection process. Therefore, the new .

All you need to know about YES Bank-RBI tussle over Rana Kapoor's extention

RBI cuts short Kapoor's term till January 31, 2019

YES Bank's Rana Kapoor, Madhu Kapur in talks for truce amid spate of exits

Kapoor and Kapur have an acrimonious past and have also battled in the Bombay High Court

YES Bank falls 6% as R Chandrasekhar resigns from board

In past one week, the stock underperformed the market by falling 15%, as compared to a 1.5% rise in the S&P BSE Sensex.

YES Bank's R Chandrashekhar resigns; promoters seek board overhaul

In a clean-up exercise, private sector lender YES Bank is expected to overhaul its board after receiving nod from its promoters, sources said. Besides, former telecom secretary R Chandrashekar is also likely to resign from the board Monday, they added. "The YES Bank's Nomination & Remuneration Committee is reviewing the performance of the board members," the sources said. As per the preliminary information available, both the promoters groups led by its MD and CEO Rana Kapoor and Madhu Kapur are in favour of a clean-up and overhaul of the Yes Bank board. A board meeting was held on November 13 and the latest developments are the result of the same, the sources noted. "The new board members will be acceptable to both the promoters group. Both promoters are in favour of overhauling the Yes Bank board to weed out under-performing members and address past governance issues," they said. Earlier last week, former SBI chairman O P Bhatt resigned from the panel set up by the bank to find

Icra places Yes Bank's rating on watch with negative effect over RBI order

Apex bank's fiat to appoint new CEO could impact lender's capital raising ability