China exim bank, Bank

He also tendered his resignation from all other committees of the Board raising serious concerns on falling of standards of corporate governance.Agarwal has blamed Gill and other senior management for serious concerns about corporate governance, management practices and how the company is being run."There are serious concerns as regards deteriorating standards of the corporate governance, failure of compliance, management practices and the manner in which the state of affairs of the Company are being conducted by Ravneet Gill-MD/CEO, Rajiv Ubeoi-Senior Group President Governance &Controls, Sanjay Nambiar-Legal Head and Board of Directors," Agarwal said in his resignation letter."I have raised my concerns on these very critical matters from time to time in the overall interest of Yes Bank Ltd., and millions of its small and large depositors, investors, shareholders and all other stakeholders. I have left no stone unturned to discharge my duties and thus wrote a letter detailing all these matters in the attached letter dated 9th January, 2020 (which is submitted to all the regulatory authorities)", Agarwal said pointing out that the letter is marked to the regulators since the matter relates to corporate governance failures."Irrespective of my resignation, I hope, our Bank gets stabilised and protects the interests of all shareholders and stakeholders, under your able leadership," he said in the letter to Chairman of the Board, Brahm Dutt.Yes Bank said in a filing that Agarwal has made certain observations on the Bank's governance and the same shall be duly examined by the Board. It retorted by saying that Agarwal's "fit and proper" status was under review and on the same day when the opinions from lawyers were to be examined, the director quit."In this regard, the Bank would like to further intimate that the Bank was reviewing the 'fit and proper' status of Mr. Agarwal as directed by the Reserve Bank of AIndia. In this respect, the Bank had obtained legal opinions from eminent jurists. These opinions were to be considered by the Nomination and Remuneration Committee of the Board ('NRC')/the Board of the Bank in their meetings scheduled for today, i.e., January 10, 2020. However, prior to the commencement of the proceedings of these meetings, the Bank received the resignation of Mr. Agarwal," Yes Bank said.( With inputs from IANS )

China Exim BankFOLLOW

China exim bank, Latest News

With normal banking services in Yes Bank to resume at 6 p.m. on Wednesday, the private sector bank's administrator and new investors assured all deposit holders that their savings in the bank were absolutely safe and customers would have much better ...

State Bank of India Chairman Rajnish Kumar on Tuesday said that the state-run bank will not sell any of its shares in the crisis-hit Yes Bank in the next three years. ...

Yes Bank will resume normal operations from 6 pm on March 18 and it has no liquidity problem, Administrator of the troubled private sector lender Prashant Kumar said on Tuesday. ...

Stocks of the crisis-hit Yes Bank have surged over 60 per cent, a day after Moody's upgraded its outlook for the bank and the Reserve Bank Governor assured that the bank's revival plan is credible bank and it may infuse more liquidity if required. ...

A special court here on Monday extended the Enforcement Directorate (ED) custody of Yes Bank founder Rana Kapoor up to March 20. ...

The moratorium on crisis-hit Yes Bank imposed early this month will be lifted on Wednesday at 6 pm, said Reserve Bank of India (RBI) Governor Shaktikanta Das here on Monday. ...

Noida-based Neha Chandra had a shock of her life when, on a New Year vacation to Paris, got her wallet stolen in the Metro and within 15-20 minutes, hackers stole over Rs 1.5 lakh from her debit and credit cards without any OTP or PIN. ...

In a major blow to Yes Bank and its CEO Ravneet Gill, Uttam Prakash Agarwal, Chairman of the bank's Audit Committee and Independent Director, resigned on Friday with immediate effect, citing the falling standards of corporate governance and complianc ...