Yes Bank co-promoters Rana Kapoor and his family owned firm Morgan Credits Pvt. The move follows the mutual fund converting a previously unsecured loan into a secured loan. Kapoor and MCPL hold 4.31% and 3.03%, respectively, in Yes Bank. The loan pact mandates that the value of Yes Bank shares (held by Kapoor and MCPL) should always be greater than double the loan outstanding. Since 20 August, Yes Bank shares have lost almost 80% to ₹81.75 as of Monday on BSE.

Source: Mint July 23, 2019 18:46 UTC