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Tuesday, July 2, 2013

Yes Bank.... in news.... Shagun Gogia's nomination rejected....

In the busy Triplicane High road, the other day saw a glass door etched with letters…….which made an interesting read….. the words so printed is the meaning of English word ‘Yes’ – from the picture you can decode that it is a bank ATM and no prize for guessing – whose ?!?!? ~ and sadly it has a connection with the Mumbai carnage too…..

Every one of us know and use these words… ‘Yes and No’ – the English words for expressing the affirmative and the negative respectively in modern English. The words yes and no are not easily classified into any of the eight conventional parts of speech. Although sometimes classified as interjections, they do not qualify as such, and they are not adverbs. ………… these words were printed in the ATM of Yes Bank… probably they have it everywhere, I noticed it only now.

Here is what you would find for Yes in a dictionary.

YES :—adv.
1. (used to express affirmation or assent or to mark the addition of something emphasizing and amplifying a previous statement): Do you want that? Yes, I do.
2. (used to express an emphatic contradiction of a previously negative statement or command): Don't do that! Oh, yes I will!
3. (used, usually interrogatively, to express hesitation, uncertainty, curiosity, etc.): “Yes?” he said as he opened the door. That was a marvelous show! Yes?
4. (used to express polite or minimal interest or attention.)
an affirmative reply.

On that ill-fated day in Nov 2008 – when Mumbai was held hostage by Pak trained terrorists, Ashok Kapur, the non-executive chairman of  Yes Bank was killed by terrorists in the Trident-Oberoi hotel complex in Mumbai.  Kapur had gone for dinner with his wife at the hotel’s Kandahar restaurant in the 19th floor of the hotel when shooting broke out. In the shooting, the couple were separated and his wife was led out by security officers with a group of other guests. The news of his death came  later.

The private sector ‘Yes Bank’ was founded by Ashok Kapur and Rana Kapoor, with the duo holding a collective financial stake of 27.16%. The Bank has received significant national and international recognitions.   The bank is in news for wrong reasons….

ET reports that YES Bank's four-year-old family feud that spilled over to streets may play out in courts for a long time as Madhu Kapur prepares for a prolonged battle to establish her claim as an equal business partner to Managing Director and Chief Executive Rana Kapoor.  "This will be a long drawn court battle,'' said a legal advisor to Madhu Kapur after her daughter's nomination was rejected. "Madhu and the family are aware of it. They are fighting for joint nomination rights along with Rana, and not just a board seat for Shagun,'' said the person who did not want to be identified because of the legal issues involved.  YES Bank last week dismissed Madhu Kapur's daughter Shagun Gogia's nomination to the board of directors as the legal heir of one of the two founders. It said it was not in line with practice at other institutions such as ICICI Bank, HDFC Bank, and family-promoted Kotak Mahindra Bank. The Bombay High Court directed the bank to consider Kapur's nomination after the family challenged the nomination of two directors by co-founder Rana Kapoor.  The late Ashok Kapur family also sought the stay of the appointment of the third director.

For now, ‘Yes’ seemingly is not ‘affirmative’ at least for the feuding family.

With regards – S. Sampathkumar.

1st July 2013.


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