India Markets closed

Uttam Agarwal resigns as Independent Director of Yes Bank

Uttam Prakash Agarwal has resigned as an Independent Director of Yes Bank. His resignation comes in the wake of pook governance of the bank.

"I have already submitted my resignation this morning and I have sent a copy to Reserve Bank of India, SEBI, BSE, NSE and auditor KPMG," said Agarwal, in an interview with CNBC-TV 18.

As reported by CNBC TV 18, Agarwal said that he had dissented on fundraising proposal and the Managing Director and CEO of the private lender did not disclose the name of the investor in a meeting on Thursday.

He also said that the NSE had written to Yes Bank to seek investor details, CNBC-TV 18 reported.

SEBI is also likely to seek clarification on the resignation of Agarwal, sources said.

Agarwal was appointed on November 14, 2018 and his tenure was to end in November 2023.