YES Bank files review petition in SC over ₹8,415 crore AT-1 bond write-down
In its 15 October ruling, the Supreme Court dismissed appeals by YES Bank, the Reserve Bank of India (RBI) and the Centre, upholding a Bombay High Court order that held that the bank’s administrator had no authority to write down the bonds as part of the lender’s 2020 rescue.
YES Bank has filed a review petition with the Supreme Court, challenging a Bombay High Court ruling that upheld the write-down of ₹8,415 crore of additional tier-1 (AT-1) bonds. The write-down, which occurred as part of the YES Bank Reconstruction Scheme in 2020, is being contested by bondholders and the trustee, Axis Trustee Services.
The Supreme Court initially directed YES Bank to restore the bonds to bondholders with immediate effect, but the lender has yet to comply. The bank has stated it will take necessary legal actions, including seeking the Supreme Court's review of its October 15, 2026 order. Reinstating the bonds is expected to have a significant impact on the bank's capital and margin.
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Also reported by 1 other outlet
- YES Bank seeks SC review of ruling on ₹8,415 crore AT-1 bond write-down business-standard.com
