Morgan Credit (MCPL) and YES Capital (India) (YCPL) — the promoter entities of YES Financial institution — on Wednesday expressed “dejection” on Reliance Nippon Life AMC’s (RNam) resolution to invoke and promote pledged shares of Rana Kapoor by its debenture trustee, Milestone Trusteeship. “These were pledged by our father Rana Kapoor to support the borrowings of MCPL, a company owned by his three daughters for investing in start-up ventures in our capacity as women entrepreneurs,” stated the press notice issued by MCPL and YCPL.

This sale of Kapoor’s …

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