In the two-year-old suit filed by Madhu Kapur against Yes Bank, the Bombay High Court Wednesday asked both the sides to settle their dispute amicably by June 2 with regard to the right to nominate directors on the Bank's board.
The long-drawn legal battle over a board membership in the Yes Bank may come to an end next week. The Bombay High Court is expected to deliver its final judgment in the case between Yes Bank and Madhu Kapur as well as her daughter Shagun Kapur Gogia, a source told moneycontrol.com.
Private sector lender Yes Bank on Tuesday sent its replies to the amended petition filed by Madhu Kapur before the Bombay High Court two weeks back. The bank is going to serve the same with the register of the court on Wednesday. The final hearing is due on July 29.
The unbridled public spat among family members over board membership will not dent Yes Bank's performance. However, the lender will not allow the feud to linger while its brand image takes a hit. The bank shall try end the chapter on Thursday (June 27) when its board will meet at 3pm in Mumbai to consider Shagun Kapur Gogia's induction.
In an interview to CNBC TV18, SL Kapur reiterated that Shagun Kapur Gogia was not qualified enough to be inducted in the Yes Bank board.
The ongoing family feud to take control of Yes Bank board room is unlikely to dent its performance. However, the claim to include Shagun Kapur Gogia, daughter of Mrs Madhu Kapur has found some support.