Supreme Court Upholds Bombay HC on Yes Bank’s Rs 8,415 Crore AT1 Bond Write-Off
India’s Supreme Court has upheld the Bombay High Court’s ruling against Yes Bank’s decision to write off Rs 8,415 crore of additional tier-1, or AT1, bonds during its 2020 restructuring. The court found that the bank administrator lacked the authority to extinguish the instruments, strengthening bondholders’ claims and forcing the lender to repay the securities with accrued interest.
