From The Economic Times
Owned by Bennett, Coleman & Co.Yes Bank files Supreme Court petition seeking review of AT-1 bond order
What's behind this
YES Bank has filed a review petition in the Supreme Court challenging the October 15 ruling that overturned the ₹8,415 crore write‑off of its additional tier‑1 (AT‑1) bonds. The Supreme Court had earlier dismissed appeals by the bank, the Reserve Bank of India and the Centre, upholding a Bombay High Court order that the bank’s administrator lacked authority to write down the bonds as part of the 2020 rescue. The review petition follows a contempt petition by bondholders, filed through Axis Trustee Services, seeking a concrete roadmap to restore the written‑off bonds.
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RSS excerpt
Yes Bank has approached the Supreme Court seeking a review of its October judgment that overturned the ₹8,415 crore write-off of its additional tier-1 (AT-1) bonds. The move follows a contempt petition filed by Axis Trustee Services on behalf of bondholders, accusing the bank of failing to provide a…
