Cannot consider Madhu Kapur as co-promoter: Yes Bank board

.....“Madhu Kapur being successor of late Ashok Kapur cannot be considered as Indian partner or Indian promoter and accordingly, cannot inherit the rights under articles of association or the status of promoter of Yes Bank,” the spokesman said. “Since the advocates of Madhu Kapur as start up to any amicable resolution requires the bank to recognize her rights as Indian partner, the board is not in a position to accede to any such request for the reason mentioned above.”..........

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