YES Bank Ltd to challenge Bombay HC order against AT1 bons in Supreme Court

YES Bank Limited ("the Bank") had written down Additional Tier-1 Bonds ("AT-1 Bonds") aggregating to INR 8,415 Crore.

Multiple writ petition(s) were filed before the Hon'ble Bombay High Court challenging the write down of AT-1 Bonds.

The Hon'ble Bombay High Court vide judgment dated January 20, 2023 has set aside the Stock Exchange Intimation and decision of the Bank to write down AT-1 Bonds. At the request of the Bank, the Hon'ble Bombay High Court has stayed the order for a period of 6 (six) weeks.

Basis legal advice, the Bank is in the process of preferring an appeal before the Hon'ble Supreme Court of India.

Shares of Yes Bank Limited was last trading in BSE at Rs. 19.80 as compared to the previous close of Rs. 20.15. The total number of shares traded during the day was 14991179 in over 20695 trades.

The stock hit an intraday high of Rs. 20.15 and intraday low of 19.65. The net turnover during the day was Rs. 298219805.00.

Source : Equity Bulls

Keywords

YesBank INE528G01035 AT1Bonds Writedown SupremeCourt Appeal HighCourtOrder