The Supreme Court struck down a six-year-old decision by an administrator to cancel Yes Bank’s additional tier-1 bonds worth ₹8,415 crore during its 2020 bailout.
Following the ruling, Yes Bank shares plunged 14.5% to ₹18.12 on the NSE, as investors worried about potential financial impacts and required annual coupon payments.
The bench criticized the Reserve Bank of India and the administrator for questionable conduct and procedural lapses that unfairly shifted administrative losses onto bondholders.