Sanjay Nambiar, who worked as the top legal officer (general counsel) at Yes Bank for almost 15 years has resigned. Currently he will be on gardening leave (a period where an employee is still on payroll but not actively working, often before officially leaving a job). Before joining Yes Bank, he worked at ICICI Bank.
His resignation comes while the Enforcement Directorate (ED) is investigating a major loan worth ₹3,000 crore granted by Yes Bank, which are suspected to have been wrongly diverted to fake companies (called shell firms) connected to Anil Ambani’s business group. When the fraud happened he was still at the bank.
In March 2020, Yes Bank was about to collapse because of its risky decisions. So, the Reserve Bank of India (RBI) stepped in and took control of the bank’s board. As part of the rescue plan, the AT-1 bonds (a type of high-risk debt that acts like equity) were cancelled, which meant investors lost all their money. Later, a group of other banks came together to help save Yes Bank and keep it from closing down.
Your article about me (Sanjay Nambiar of Group General Counsel of Yes Bank) is absolutely false and baseless. Please see the Clarification posted by Economic Times dated July 26, 2025. Please reach out to me if you need further clarification +91 9930994732
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