Yes Bank’s promoters-Rana Kapoor and Madhu Kapur may consider settling the legal battle outside the court. Both the promoters have initiated a discussion to take back their decade-old case filed against each other.
Reportedly, The truce will result is erasing the uncertainties about bank’s growth plan. Moreover, It will help the bank to choose its new directors on the board which require consent from both the promoters followed by RBI’s permission.
An anonymous source told Live mint, “Rana Kapoor has approached Madhu Kapur and her family and both parties are willing to opt for an out-of-court settlement, keeping in mind the long-term vision that was set by Ashok Kapur and Rana Kapoor for the bank, which has grown into an institution today. Withdrawal of the legal battle will benefit the bank’s board, shareholders, employees and ultimately the customers.”
The settlement is followed by a recent instruction to restrict Rana Kapoor’s tenure till 31 January 2019.Yes Bank was the top player in the morning trade today post buzz about out-of-court settlement.