Economy

Supreme Court strikes down Yes Bank AT-1 bond write-off

Hindustan Times2h
THE BRIEF
1

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.

2

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.

3

The bench criticized the Reserve Bank of India and the administrator for questionable conduct and procedural lapses that unfairly shifted administrative losses onto bondholders.