Shares of privates sector lender Yes Bank on Tuesday, slumped over six percent after its independent director Rentala Chandrashekhar resigned from the company’s board and also marked his third resignation.
On Bombay Stock Exchange (BSE) record, it has plunged down 6.10 percent to about Rs 192.55. During the daytime, Yes Bank share plunged 6.73 percent to approximately s 191.25. The share of Yes Bank tanked up to 6 percent to at Rs 192.50 on the National Stock Exchange (NSE). Yes Bank’s market valuation has dropped down Rs 2,849.63 crore to Rs 44,501.37 crore on BSE.
In the directorial file, bank had said, “We would like to inform that Rentala Chandrashekhar, Non-Executive, Independent Director has tendered his resignation from the board of directors of YES Bank on November 19, 2018 with immediate effect.” The bank also cited “personal problem” of Chandrashekhar, as a reason for his resignation.
When talk about equity volume term, the company trades 39.21 lakh shares on BSE and today at NSE, over 7 crore shares changed.
Yes Bank’s non-executive chairman Ashok Chawla had on November 14, resigned as CBI charge sheet has filed his name in the Aircel-Maxis case. On the same day, another independent director Vasant Gujarathi had too submitted his resignation over audit committee issues.
The Reserve Bank of India has ordered the private sector lender Yes Bank to soon find a replacement for its CEO and founder MD by January 31.
Bank said, “The Nomination and Remuneration Committee (N&RC) of the bank will look for a suitable replacement in the field of Information Technology and Cyber Security in terms of applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Companies Act, 2013 and Banking Regulation Act, 1949.”