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Special Audit in YES Bank against the Whistleblower’s Complaints Received in...

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BSR &Co., the statutory auditor of Yes Bank Ltd has asked for a fresh audit, to have a detailed investigation in the complaint filed by the whistleblower against Rana Kapoor, founder of Yes Bank. This move came when the special audit done by JLN US & Co resulted into a nonconclusive process. In September 2018 a complaint was filed by a whistleblower against Rana Kapoor, and it was alleged that there is a gross irregularity in the working of the Bank and there is a conflict of interest in misclassifying of the bad loans and founder, Rana Kapoor. After that, the Bank’s audit committee ordered to have a special audit done into the whistleblower’s complaints, but that seems to have done no good. Not only a special audit but also an internal audit was done after the complaint was received, which was done by management which Kapoor led, and the Board supervised it. After the internal inquiry, Vadodara-based JLN was hired to take over the matter and conduct an independent inquiry.
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