Supreme Court reserves verdict again on Yes Bank's Rs.8,415-crore AT1 bond write-off
New Delhi, May 20 -- The Supreme Court on Wednesday reserved its judgment in the long-running dispute over the Rs.8,415-crore write-off of Yes Bank's additional tier-1 (AT1) bonds after concluding hearings and taking on record Cabinet documents linked to the lender's 2020 reconstruction scheme.
A bench of Justice Dipankar Datta and Justice Augustine George Masih concluded hearings after hearing submissions from the Union government, Reserve Bank of India (RBI), Yes Bank, bondholders represented by Axis Trustee Services, and other investors challenging the write-off.
The case is being watched closely for precedent on future bank resolution mechanisms involving AT1 bonds. Introduced worldwide after the 2008 financial crisis, these bonds a...
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