“Diamonds are forever,” tweeted a confident Rana Kapoor after he was ousted from the once shining private bank, an institution that he founded. These diamonds were Yes Bank’s shares, which he said he would eventually bequeath to his daughters and they’d stay in the family forever. Clearly, he spoke too soon. From over 15% stake that he held a decade ago, along with his promoter firms Yes Capital and Morgan Credits, today he owns a meagre 900 shares. That’s almost negligible, not even worth Rs. 60,000 at its current market price of Rs. 64. The final stake sale on November 12-13 came just days before RBI found that the bank had under-reported bad loans worth Rs. 32.7 billion. As new skeletons continue to fall out of the closet,there are still several questions about what went down at the bank. Outlook Business wrote an in-depth report about how he ran the bank, and Our work is exclusively for discerning readers. To read our edgy stories and access our archives, you’ve to subscribeYou don’t want to be left behind. Do you?
Trend
How Yes Bank's Rana Kapoor made Rs.20 billion from loans worth Rs.60 billion to Indiabulls
The Yes Bank founder easily extended loans to debt-laden Indiabulls Group. But what was in it for him?
Editor's Pick
Most Popular
Relative Value
Prathamesh Mulye - August 16, 2018
How far did Baba Ramdev stretch to bag Ruchi Soya?
V Keshavdev - June 05, 2020
Virtual door to good fortune
Shailaja Mohapatra - June 29, 2020
Why Ashish Kacholia, Mukul Agrawal and Kedaara Capital are hot on Religare Enterprises
Anishaa Kumar - July 16, 2020
Tulsi Tanti built his empire on 'soojh-boojh', loans and one other secret ingredient
Krishna Gopalan - July 17, 2020