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Madhu Kapoor will no longer be promoter of YES Bank, Rana Kapoor has only so many shares left

Madhu Kapoor will no longer be promoter of YES Bank, Rana Kapoor has only so many shares left
Madhu Kapoor will no longer be promoter of YES Bank, Rana Kapoor has only so many shares left

The country’s private bank Yes Bank will now see a big change. The bank’s co-founder Ashok Kapoor’s wife Madhu Kapoor and his family include Shagun Kapoor, Gogia and Gaurav Ashok Kapoor, as well as Mags Finvest Pvt Ltd, now owned by the bank’s promoter Mags Finvest Pvt Ltd Will not be considered as regulatory filing, Yes Bank has said that the Madhu Kapoor Group has reclassified its shareholding in the bank as non-promoters or public shareholders. Have given consent to do. Madhu Kapoor is the wife of Yes Bank founder Ashok Kapoor.

How much stake in Madhu Kapoor?
As of 31 March, Madhu Kapoor has 14 crores 1.12 percent shares and Mags Finvest holds 3.72 crore or 0.30 percent shares in the bank. Yes, Bank has said in the regulatory filing on Saturday that the bank will receive the date of May 28, 2020 (received on May 29, 2020) Madhu Ashok Kapoor, Shagun Letter written by Kapoor Gogia, Gaurav Ashok Kapoor and Mags Finvest Private Limited has been received. In which it is written that they have agreed to reclassify their shareholding in the bank as non-promoter shareholders i.e. public shareholders. SBI will invest 10 thousand crore rupees

When the Reserve Bank of India dissolved the Board of Directors of Yes Bank. This decision of his 3 months Madhu Kapoor and his family has come. In March, State Bank of India had set a maximum limit of Rs 10,000 crore for investment in Yes Bank.

After the investment, SBI’s stake in Yes Bank has gone up to 49%. Prashant Kumar, the former Chief Financial Officer – CFO of SBI, is the CEO of Yes Bank.

Yes Bank founder Rana Kapoor is facing ED investigation. However, as promoter, Rana Kapoor has only 900 shares. Please tell that Rana Kapoor, along with Madhu Kapoor’s late husband Ashok Kapoor, founded Yes Bank as a new-age private bank in the year 2004.

Rana Kapoor and Ashok Kapoor’s wives are sisters. Rana Kapoor remained at the top level of Yes Bank for a long time. He is currently in police custody in a corruption case. Yes Bank is currently being operated by many other banks headed by State Bank.

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