Rentala Chandrashekhar who is an independent director in the Yes Bank board has resigned from the bank, as per the regulatory filing. “We would like to inform that Rentala Chandrashekhar, non-executive, independent director has tendered his resignation from the board of directors of Yes Bank on November 19, 2018 with immediate effect,” the bank said in the filing.
This makes the third resignation of a top official from the within past 10 days. Earlier last week, O.P. Bhatt, a former SBI chairman, resigned from the panel set up by Yes Bank to find a successor for Rana Kapoor. Reportedly, Bhatt is under CBI’s scanner in connection with loans given then then Kingfisher airline owner and now a fugitive, Vijay Mallya.
He is also a global board member of Standard Chartered Bank which rose a case of conflict of interest. Also on 14 November, Ashok Chawla, the bank’s non-executive chairman, resigned as his name in a CBI Charge sheet filed in the Aircel-Maxis case surfaced.
The bank cited, “The Nomination & Remuneration Committee of the bank will look for a suitable replacement in the field of Information Technology & Cyber Security in terms of applicable provisions of SEBI regulations, Companies Act and RBI Act.”
The Reserve Bank of India has asked the private sector Bank to find a replacement for its founder MD and CEO by 31 January.