yes bank seeks sc review of ORDER ON Rs.8,415 crore a.t.-1 bond
NEW DELHI, Nov. 15 -- Yes Bank has moved the Supreme Court seeking review of its order that upheld Bombay High Court's direction quashing the bank's administrator decision to write off Additional Tier 1 (AT-1) bonds worth Rs.8,415 crore in March 2020. The bank has sought review of October 15 order of the top court which dismissed appeals challenging the Bombay HC's January 20, 2023 judgment, which had quashed the write-off. AT-1 are perpetual bonds issued by banks to increase their capital base and they are riskier than traditional bonds having higher interest rates. The top court had said the triumvirate of the RBI, the Yes Bank administrator and the Yes Bank in conducting the entire affair of dealing with the bonds was questionable. P4...
To read the full article or to get the complete feed from this publication, please
Contact Us.