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Settle dispute, YES Bank promoters told

The Bombay High Court has asked the co-promoters of YES Bank, Rana Kapoor and Madhu Kapur, to amicably settle their dispute over the right to nominate directors. A bench of justices S.J. Vazifdar and B.P. Colabawalla told the parties to ‘try and work out a solution’ within a week and posted the hearing in the matter on 15 April. Madhu Kapur is the widow of YES Bank co-founder Ashok Kapur, who was killed in the 2008 terrorist attack in Mumbai. She had approached the court after the bank allegedly refused to recognise her right to nominate board members. The conflict began in 2009 when the board declined to appoint Madhu Kapur’s nominee as a member, saying she might not pass muster with the Reserve Bank of India’s ‘fit-and proper’ criterion.

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