YES Bank shareholders pass all resolutions
Posted on 17th June 2014 |
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| YES Bank’s shareholders have approved all the 12 resolutions that were put to vote on Saturday at the bank’s 10th annual general meeting (AGM). Apart from the financials, the resolution on re-appointment of Rana Kapoor as managing director and chief executive officer (MD & CEO) of YES Bank, along with the appointment of other directors was also put to vote. This year, 67 per cent of the shareholders had participated in the voting, compared to 57 per cent in 2013. M R Srinivasan, non-executive chairman, YES Bank, said, “The result of the AGM is thereby a self-explanatory reflection of the shareholders’ (institutional and retail) view out rightly rejecting the untenable and base issues raised by the second largest shareholder.” Madhu Kapur, the second-largest shareholder, had moved court, claiming her right as the bank’s co-promoter was violated and she wasn’t consulted before the bank had appointed a few directors on its board. Kapur’s daughter, Shagun Kapur Gogia, had also applied to be a member of the bank’s board in June 2013, but the board had rejected her nomination on the basis that she lacked sufficient experience. Rana Kapoor, MD & CEO of YES Bank, reiterated in a statement that that no member of his family would ever be part of the bank’s management or board. Currently, Rana Kapoor has 11.87 per cent stake whereas Madhu Kapur and her company owns 10.37 per cent. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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