Supreme Court rules against Yes Bank's write-off of Rs 8,415 crore AT1 bonds
The Supreme Court confirmed the decision of the Bombay High Court regarding Yes Bank's AT1 bonds. This ruling impacts ₹8,415 crore in bonds written off during the bank's 2020 restructuring. The court noted that the administrator lacked the authority to write down these bonds. Bondholders had contested the write-off, citing mis-selling of the securities. Yes Bank...
Key Takeaways
- The Supreme Court confirmed the decision of the Bombay High Court regarding Yes Bank's AT1 bonds.
- This ruling impacts ₹8,415 crore in bonds written off during the bank's 2020 restructuring.
- The court noted that the administrator lacked the authority to write down these bonds.
The Supreme Court confirmed the decision of the Bombay High Court regarding Yes Bank's AT1 bonds. This ruling impacts ₹8,415 crore in bonds written off during the bank's 2020 restructuring. The court noted that the administrator lacked the authority to write down these bonds. Bondholders had contested the write-off, citing mis-selling of the securities. Yes Bank is now obligated to repay the bonds along with accrued interest.
Original Publisher Attribution
This summary was curated from Economic Times.