Yes Bank shares slump 6.5% after independent director R Chandrashekhar's resignation

New Delhi: Shares of Yes Bank Tuesday slumped 6.5 percent after independent director Rentala Chandrashekhar put in his papers marking the third resignation from the company's board.

The stock dived 6.48 percent to Rs 191.75 on BSE.

At NSE, shares of the company slumped 6.44 percent to Rs 191.60 apiece.

Representational image. Reuters.

Representational image. Reuters.

The stock was the worst hit among the blue chips on both the key indices during the morning trade.

"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 19 November, 2018 with immediate effect," the bank had said in a filing.

The bank cited personal reasons for Chandrashekhar's resignation.

On 14 November, the bank's non-executive chairman Ashok Chawla had resigned as his name figured in a CBI chargesheet filed in the Aircel-Maxis case.

Another independent director Vasant Gujarathi too had tendered his resignation on the same day over audit committee performance issues.

The Reserve Bank has asked the private sector lender to find a replacement for its founder MD and CEO by 31 January.

Firstpost is now on WhatsApp. For the latest analysis, commentary and news updates, sign up for our WhatsApp services. Just go to and hit the Subscribe button.

Updated Date: Nov 20, 2018 13:25:42 IST

Also See