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Construction of word financing saves Yes Bank $7 million
Yes Bank, the Mumbai headquartered bank had an unlikely savior in a London Court English grammar. According to a report US based financial advisor and Investment Bank Cantor Fitzgerald filed a 7.5 million dollar lawsuit against the Mumbai-based bank for failing to pay a financing fee for its 2 billion dollar foreign portfolio investment in 2020. Yes Bank had raised around 2 billion dollars in FBO, the bank had picked Canter Fitzgerald and two other firms to help raise the funds as per reports Canter Fitzgerald claimed two percent on the total Capital raised through the FBO arguing that the deal with Yes Bank included not only private financing but also FPO the Crux of the case lies with this term financing. Watch the video to know more.
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