Shagun Gogia has received a joint nomination from Rana Kapoor, Co-Founder and former Managing Director and Chief Executive Officer, YES Bank and his mother Madhu Kapur, who inherited the promoter holding from her late husband Ashok Kapur.
Further, the lender has also named Ravinder Kumar Khanna as a non-executive, non-independent director on the board after joint nomination from both promoter families.
Since 2013, Madhu Kapur had been fighting a legal battle and claiming that post her husband Ashok Kapur’s demise, daughter Shagun Gogia should also have been given a seat on the board.
At that point in time, Rana Kapoor, who was then heading the bank, as well as members of the board had the opinion that Gogia did not have the necessary experience.
In 2015, the Bombay High Court gave decision in favor of the Kapur family and said that the promoters must nominate three directors on the board, jointly.
After fighting a long legal battle, Shagun is finally a part of the bank’s board