Mumbai, June 5, 2015:
The Hon’ble Bombay High Court has not granted an injunction against the business to be taken up at the 11th AGM as sought by the Plaintiffs – Madhu Kapur and Others. The appointments to the Board at the AGM can all be taken up for voting.
The matter has been listed next on June 17, 2015. In a spirit consistent with an intention to amicably resolve the matter, the Bank has offered that Shri. M.R.Srinivasan and Shri. Diwan Arun Nanda, upon election, at the AGM will not assume office time June 17, 2015.
The Bank is not in a position to state anything further in this regard, given the directions of the Hon’ble Bombay High Court.
Therefore the AGM process shall be conducted in accordance with the AGM notice sent to the Shareholders for convening the 11th AGM.
About YES BANK
YES BANK, India’s fourth largest private sector bank is a high quality, customer centric and service driven Bank. Since inception in 2004, YES BANK has grown into a ‘Full Service Commercial Bank’ providing a complete range of products, services and technology driven digital offerings, catering to corporate, MSME & retail customers. YES BANK operates its Investment banking, Merchant banking & Brokerage businesses through YES SECURITIES and its Mutual Fund business through YES Asset Management (India) Limited, both wholly owned subsidiaries of the Bank. Headquartered in Mumbai, it has a pan-India presence across all 28 states and 9 Union Territories in India including an IBU at GIFT City, and a Representative Office in Abu Dhabi.
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