India Supreme Court Upholds Ruling Against YES Bank AT1 Bond Write-Off
The Supreme Court upheld a Bombay High Court verdict that YES Bank’s AT1 bonds should not have been written off in March 2020. The court also raised concerns about the RBI and YES Bank management at the time.
The Supreme Court has upheld the Bombay High Court’s January 2023 verdict that YES Bank’s AT1 bonds should not have been written off, or written down, on March 14, 2020. The apex court has raised serious concerns over how the Reserve Bank of India and the YES Bank management at that time did not ob…