'The book captures Rana Kapoor's hunger for real estate leading to bungalows in Delhi, Mumbai, London and other cities; the multiple companies -- over 100 -- to fund his family's various ventures; the attempt to game the system by showing lower non-performing assets,' notes Joydeep Ghosh.
Kapoor was among the founding team of Yes Bank, along with Ashok Kapur who died in 2008.
The voting results were concluded on Sunday and will be sent to the exchanges on Monday morning. YES Bank could not be reached for comment.
The CBI has filed a charge sheet against former Chief Executive and Managing Director of Yes Bank Rana Kapoor as well as Avantha Group promoter Gautam Thapar in the Rs 466.51 crore alleged fraud in the bank, officials said. Kapoor was not named a suspect in the FIR registered on June 2 last year in the case. His role, however, surfaced during the investigation, they said.
The bank has hired US-based advisory firm Korn Ferry to help with the selection process.
The collection of mostly small and medium sized businesses is a hotchpotch of ventures and include design schools, schools, villas for hire in Goa and a country club in Gurgaon.
The bank was worth over Rs 80,000 crore as recently as September 2017. The lender had grown at breakneck speed, helped perhaps by Rana Kapoor's reputation as a banker, willing to aggressively write checks.
'What made him different was that he was not a banker at all by temperament.' 'He was a businessman, a typical lalaji at that.' 'He had to win at any cost.'
The properties overseas include two luxury hotels - one in New York and one in London - two residential apartments in London valued at 15 million each, and a yacht stationed in the UK. In India, Kapoor's six bungalows in Delhi's upscale localities, including Jor Bagh, Hauz Khas, and Kautilya Marg, were also identified.
Sources close to the bank said non-executive and non-independent director Ajai kumar had been recommended for the interim CEO role.
Schemes among the six wound up by the fund house had given a loan of Rs 518 crore against non-convertible debentures to the firm in March 2019, according to ED's chargesheet.
YES Bank said that it has not paid any bonus to Kapoor for FY17 and FY18. He drew a salary of Rs 6.48 crore for the ten months he served as MD & CEO, before his tenure ended in January.
The RBI has cited corporate governance and regulatory issues for not extending Kapoor's term. Further, the lender has been directed to search for a successor.
The ED said that the investigation further revealed that there are 78 companies owned by the accused and his family members and it needed to probe whether the money went into these companies.
Other than Kapoor, the complaint, running into more than 10,000 pages, named his wife, Bindu; three daughters Rakhee, Roshini, and Radha; and three firms, Morgan Credits, RAB Enterprises, and Doit Urban Ventures, allegedly controlled by them.
The Quorum in Mumbai aims to introduce and extend its blend of hospitality and philosophy of being community-led, content-driven, design-focused and experiential.
Rana Kapoor gets interim relief from Bombay HC but directors' appointment subject to final order.
Private sector lender Yes Bank has chalked out an aggressive plan to offer a host of retail products over the next few months, which could include home, auto and education loans, to grab a larger share of the retail market.
Rabo India, the 100 per cent arm of Netherlands-based Rabo Bank, will start merchant banking from March.\n\n\n\n
Yes Bank, the new private sector banking entity, has filed a draft Red Herring Prospectus with the Securities and Exchange Board of India for its initial public offering of seven crore equity shares.
Nyrraa Banerji's reason for staying away from Bollywood for a while: 'In Bollywood, there was a phase where all the movies were getting very bold. Physical intimacy was the criteria at that time for films. I didn't want to be part of that.'
Rana Kapoor, founder, managing director and chief executive officer of Yes Bank talks about his success mantras, lessons he has learnt in his career and gives tips to succeed to young entrepreneurs.
Madhu Kapur is fighting the case against the bank as it refused to accept her daughter as a nominee director.
Reliance ADA Group chairman Anil Ambani on Monday appeared before the Enforcement Directorate (ED) in Mumbai and recorded his statement in connection with an investigation linked to the alleged contravention of the foreign exchange law, official sources said. Ambani, 64, deposed at the office of the federal agency in south Mumbai. Ambani's statement was recorded as part of a fresh case filed under various sections of the Foreign Exchange Management Act (FEMA), the sources said without elaborating.
CEO Rana Kapoor said no such discussion or proposition has ever transpired.
The fight between Madhu Kapur, widow of bank's co-founder Ashok Kapur, and current Managing Director and CEO Rana Kapoor is not about money.
The Budget should serve as a trigger to kick-start the investment cycle in the economy, says Rana Kapoor managing director and chief executive office of Yes Bank.
Tina Ambani, wife of Reliance ADA Group chairman Anil Ambani, on Tuesday appeared before the Enforcement Directorate (ED) in Mumbai for questioning and recording her statement in connection with an investigation linked to the alleged contravention of the foreign exchange law, official sources said. Anil Ambani had recorded his statement in the case on Monday under sections of the Foreign Exchange Management Act (FEMA) and he is expected to appear before the central agency again later this week for completion of the exercise.
Rajiv Kapoor did not do many films in his career but he is still remembered for his solid hit, Ram Teri Ganga Maili.
Yes Bank Ltd, a new private sector bank, will make its commercial launch in second quarter of 2004 with one branch each in Mumbai and Delhi.
With a balance sheet size of Rs 22,000 crore (Rs 220 billion), we are a meaningful player in our home country, says Rana Kapoor.
Yes Bank Founder, Managing Director and CEO Rana Kapoor is confident that the potential is huge and risks close to none. The bank has around 8,000 relationships in this segment and claims to have mapped about 150,000 such relationships.
Eyeing growth of at least 40 per cent in loans in the current financial year, Yes Bank on Friday said it would recruit 900 people, including 500 specialists, in the next nine months to drive expansion in six key segments.
Bombay High Court upholds rejection of Shagun Gogia as board member, terms two director appointments invalid.
Growing up in the Mumbai of 1970s, Uday Kotak aspired to be a cricketer and trained under legendary coach Ramakant Aachrekar. However, it was an on-field injury which resulted in a shift to finance. He started off with bill discounting, turned to lending and successfully applied to start a universal bank in the first decade of the millennium, as India was warming up to private play in banking.
Transiting from "survival mode", which took most of the management time in FY21, the bank has been able to take a long-term view in terms of growth and preparing technology in the past 12 months.
These businessmen represent the top five firms that have taken loans from the crisis-hit Yes Bank and these debts were either in the red or were stressed, officials said.
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The repo rate continues to be at 8 per cent while the cash reserve ratio has also been retained at 4 per cent despite inflation based on the Wholesale Price Index coming down to a 5-year low of 1.77 per cent in October.
