Former SBI chairman O.P. Bhatt has resigned from the search panel which was formed to find a successor for Yes Bank MD & CEO Rana Kapoor, citing conflict of interest. Mr. Bhatt has attended three meetings of the search committee.
“The NRC (nomination and remuneration committee) has decided to continue with the existing members to complete the process as per the timeline communicated by RBI,” Yes Bank said in a regulatory filing.
Shares of Yes Bank declined 7.42% on Thursday, a day after its non-executive chairman Ashok Chawla, who was named in the CBI chargesheet in the Aircel-Maxis case, resigned.