On Wednesday, the shares of Yes Bank increased by 2 percent in the early trade after Madhu Kapur’s family took bank the lawsuit suit filed against the bank in Bombay high court. At 10.19 IST, the bank shares were up by 1.5 percent trading at Rs. 30.3 per share value.
The trading session is currently led by financials with IndusInd Bank and Kotak Mahindra among the top gainers. Moreover, the lawsuit was withdrawn on Tuesday after being disputed since 2013.
The families of Ashok Kapur and Rana Kapoor, founders of Yes Bank, were involved in a dispute over the nomination of people on the board of the Bank. Further, Madhu Kapur, wife of Ashok Kapur, who died in the Mumbai terrorist attack in 2008, along with her daughter and son had filed a petition in the Bombay High court asking for three main reliefs.
The three relief that the family sought were—to participate in the management, to restrain individual directors from acting or holding themselves as directors, and to restrain the bank from making any application to any regulator for reclassifying their family shareholding into the non-promoter category.
In addition, the market session on Wednesday opened on positive global cues. Currently, Nifty is trading at 10,124 and Sensex at 34,247, at 10.42 IST.
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