The YES Bank stock opened lower in trade today after its non-executive chairman Ashok Chawla tendered his resignation from the bank's board following his name appearing in a CBI chargesheet in the Aircel-Maxis case. Representations were being made by shareholders and stakeholders to the bank as well as regulators like Sebi questioning his continuance on the bank's board after being named in chargesheet filed in Aircel-Maxis case by the premier investigating agency in July.

The stock fell up to 6.67% to 207.65  in early trade compared to its previous close of 222.50 on the BSE.

At 9:48 am, the stock was trading 6% lower at 209.20.

The large cap stock opened at a loss of 3.37% at 215 level.

The stock has been losing for the last two days and has fallen -5.05% in the period.

The stock is trading below its 50-day moving average of 214.10 and above its 200 day moving average of 315.80.

30 of 49 brokerages rate the stock "buy" or 'outperform', 13 "hold" and four "underperform" and two "sell", according to analysts' recommendations tracked by Reuters.

"Yes Bank announces that Shri Ashok Chawla, Non-Executive Independent Part-Time Chairman, has tendered his resignation from the Bank's Board, with immediate effect, mentioning that during the current transition period, the Bank would need a Chairman who could devote more time and attention," the bank said in a regulatory filing.

The bank shall in due course announce the appointment of a Chairman, post RBI's approval, it added.

Former Finance Secretary Chawla had also worked as Chairman of the Competition Commission of India.

Another independent director Vasant Gujarathi too has tendered his resignation with immediate effect due to personal commitments, said another filing of the bank.

However, sources said Gujarathi, who was heading the audit committee, had resigned because of certain observations made by the RBI on issues related to audit and corporate governance in the bank.

The bank's board has also approved appointment of Uttam Prakash Agarwal as an additional director (Independent) for a period of five years.

The Reserve Bank has already asked the private sector bank to find replacement of founder MD and CEO by January 31.

Last month, Yes Bank had said the panel looking for a successor to MD and CEO Rana Kapoor had finalised potential candidates.