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Supreme Court Overturns Yes Bank AT-1 Bond Write-off
15 Oct
Summary
- Supreme Court upheld Bombay High Court's judgment.
- Yes Bank's AT-1 bond write-off valued at ₹8,415 crore was quashed.
- Yes Bank shares experienced a sharp decline following the ruling.
The Supreme Court has delivered a significant setback to Yes Bank by upholding a Bombay High Court judgment. This ruling officially quashes the private lender's plan to write off ₹8,415 crore in Additional Tier-1 (AT-1) bonds.
Following the Supreme Court's decision on Thursday, Yes Bank shares experienced immediate and sharp selling pressure. The stock price plummeted from ₹21.25 to ₹19.08 per share on the NSE within minutes, reflecting investor concern over the court's verdict.
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