YES Bank to hand over AGM recording to HC
Posted on 25th June 2014 |
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| The high court on Tuesday directed YES Bank to give it a video recording of the bank's AGM held on June 14 by Wednesday morning. The order pertains to a plea filed by Madhu Kapur, wife of the bank's late co-promoter, Ashok Kapur. In the plea, Madhu Kapur claimed her right as co-promoter was violated, adding she wasn't consulted before the lender had appointed directors on its board. The court also asked Madhu Kapur to furnish documents pertaining to her correspondence with the Reserve Bank of India and the Securities and Exchange Board of India regarding the status of the promoters. The high court also said from now, any correspondence between the regulators and either of the parties regarding Kapur's change in classification status had to be exchanged by both sides. Earlier, YES Bank had written to RBI and Sebi, urging Kapur be declassified as a promoter. Kapur will be filing an amended suit in court by Wednesday. In the suit, she will challenge the resolutions passed at the bank's AGM. Apart from the resolution on financials, one on the re-appointment of Rana Kapoor as the bank's managing director and chief executive, along with the appointment of other directors, was also passed. The next hearing in the case is scheduled for Friday. With 11.87 per cent stake, Rana Kapoor is the bank's largest shareholder, while Madhu Kapur and her company own 10.37 per cent. Rana Kapoor had co-founded YES Bank with his brother-in-law Ashok Kapur. Madhu Kapur and Bindu, Rana Kapoor's wife, are sisters. |
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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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