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Yes Bank fraud case: HC grants bail to Wadhawan brothers

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The Bombay High Court on Thursday granted bail to Dewan Housing Finance Corporation Ltd promoters Kapil Wadhawan and Dheeraj Wadhawan, who have been accused...

Yes Bank to raise up to Rs 15,000 crore through FPO;...

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Private sector lender Yes Bank on Thursday said it has filed a red herring prospectus to raise up to Rs 15,000 crore through issuance...

Moody’s places Yes Bank’s ratings under review, cites ‘slowness in raising...

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New Delhi: Moody's Investors Service has placed Yes Bank's long-term foreign currency issuer rating of B2 under review, with the direction uncertain, citing "slowness in raising new capital".

YES Bank Independent Director and Chairman, Uttam Prakash, Resigned

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YES Bank share value dropped in afternoon trade today amid a media release that Uttam Prakash Agarwal, who was an independent director and chairman of YES Bank's Audit Committee, has resigned. Agarwal was designated as an independent director on Nov 14, 2018, and his tenure was to complete in November 2023.

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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