The Board of Credit Committee, the bank will meet on July 13 to consider a joint venture partner (JV) for the Asset Reconstruction Company (ARC), the CNBC-TV18 reports.

The US -based private equity company, JC Flowers emerged as the highest bidder for the arc proposed by a private lender. Foreign private equity companies such as Cerberus Capital and Apollo Global, are also in a commotion to partner with YES Bank for the launch of the bow.

Yes, the bank will hold a Swiss challenge auction to invite counter offers with JC Flowers offers as an anchor of anchor offer, according to CNBC-TV18.

The bank will also request the approval of the Bank of India reserve for 20 percent of its shares at ARC after the Swiss auction and 80 percent of shares that will be held by foreign partners.

The JC Flowers agreement appreciates the Portfolio of Non -Performing Bank Assets (NPA) at RS 12.100 Crore, higher than other applicants – clean from recovery since the evaluation.

Yes, the bank wants to transfer around Rs 51,000 Crore loans to the bow to clean up their books.At 12:39 pm, YES Bank shares were traded 0.45 percent lower in hospital 13.28 each in BSE.