Lock-in for existing shareholders may face legal challenges

NEW DELHI: The government's decision to lock-in investments of all investors, including existing ones, holding more than 100 shares in Yes Bank may create room for a legal tussle, with analysts suggesting that minority shareholders of the private sector bank could approach the courts against this differential treatment.

As per the reconstruction scheme for the Yes Bank notified by the government, apart from State Bank of India and other new private investors picking up equity in the cash strapped bank, all existing shareholders who are holding 100 or more shares will also face a three-year lock-in for their 75 percent investment. (IANS)

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