Bankers bid farewell to YES Bank head

Written by Hemang Palan | Mumbai | Updated: Dec 1 2008, 03:59am hrs
The last rites of YES Bank chairman Ashok Kapur, who succumbed to the terrorist attack while dining with his wife Madhu at The Oberoi on Wednesday, were performed on Saturday at Banganga Crematorium Ground, located in South Mumbai.

The mood at the crematorium ground became very somber when a number of eminent bankers present at the cremation ground witnessed Kapurs last rites, that were performed by his son, and brother-in-law and YES Bank CEO & MD Rana Kapoor. The senior staffers of YES Bank, close friends & family members, member of the media and many veteran bankers including Uday Kotak and Jagdish Capoor paid a visit to the cremation ground to pay respect to the rites.

Bollywood personalities, Vinod Khanna, Shyam Benegal, Ritesh Deshmukh, Zaeed Khan, Afteab Shivdashani and Manoj Joshi were also seen mourning near Kapurs pyre.

Whilst Kapurs last rites were performed, the pyres of business tycoon Pankaj Shah, and sister and brother-in-law of Bollywood actor Ashish Chaudhry too were lit by their respective families at Banganga between 4.30 and 5.30 pm on Saturday. All 4 of them incidentally had succumbed the bullet injuries at The Oberoi on Wednesday.

Kapurs body was found on 19 th floor of The Oberoi, 48 hours after he entered the hotel premises along with his wife who managed to escape the hotel the moment militants started firing at the diners.

YES Bank is owned by Rana Kapoor and Late Ashok Kapur , who have a collective financial stake of 34%. Ashok Kapur was the non executive chairman of the Bank. He was also an Associate of the Institute of Bankers, UK.

He has been in the industry since 1962 and was employed by Grindlays Bank in various capacities. He has also worked as regional manager (Executive Vice-President), ABN Amro Bank, Singapore, where he was involved with the geographical spread of the Asia/Australia branch network and the different business groups including commercial and investment banking. He was also the first Asian to be appointed Country Manager of ABN Amro Bank, India.