The three had approached the HC last week, challenging a special CBI court order of September 18 which refused them bail while noting that they had, prima facie, caused a loss of Rs 4,000 crore to the Yes Bank through illegal acts.
The company said it received the notice from Yes Bank on e-mail after it had intimated the exchanges on Thursday morning confirming that it had not received any request from the bank for holding an EGM
Closing sharply lower, the Indian equity benchmarks Sensex and Nifty, saw a major fall as the volatility index rose 12 per cent on Monday. The fall in the market is seen in line with losses across global markets as investors wait for cues from the US Federal Reserve Bank this week
The order comes after the entities approached Sebi to settle the proceedings initiated against them "without admitting or denying the findings of fact and conclusions of law", through a settlement order
Immediate beneficiaries of DICGC Act amendments will be thousands of depositors of banks like PMC Bank, Yes Bank and Lakshmi Vilas Bank. It will also ensure timely repayment to DICGC and expedite recoveries
Last week, India's Supreme Court effectively blocked Future Group's $3.4 billion sale of retail assets to Reliance Industries, jeopardising nearly $2.69 billion the retail conglomerate owes to Indian banks