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 with a pan India presence across all 29 states and 7 Union Territories of India, headquartered in the Lower Parel Innovation District (LPID) of Mumbai, is the outcome of the professional & entrepreneurial commitment of its Founder Rana Kapoor and its Top Management team, to establish a high quality, customer centric, service driven, private Indian Bank catering to the future businesses of India.
YES BANK has adopted international best practices, the highest standards of service quality and operational excellence, and offers comprehensive banking and financial solutions to all its valued customers.
YES BANK has a knowledge driven approach to banking, and offers a superior customer experience for its retail, corporate and emerging corporate banking clients. YES BANK is steadily evolving as the Professionals’ Bank of India with the long term mission of “BUILDING THE FINEST QUALITY LARGE BANK OF THE WORLD IN INDIA”.
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