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Supreme Court set aside Yes Bank's AT1 bond write-off decision, rejecting the bank's administrative order; stock fell about 8.5%
By ScoutQuest · · 1 min read
- Stock decline today
- 8.5 percent
- AT1 bond write-off amount
- 8,481 crore rupees
- Equity share capital
- 6,200 crore rupees
- Rights issue price in past
- 12 rupees
Heard on business television between 14:21:38 - 14:24:38 IST.
- The Supreme Court rejected Yes Bank's administrative order allowing write-off of ₹8,481 crore worth of AT1 bonds, upholding the Bombay High Court's earlier ruling.
- Yes Bank stock fell about 8.5% on the news.
- Corporate lawyer HP Ranina said the Supreme Court took an objective view, finding the write-off not proper or in the interest of the bank and stakeholders.
- Senior Supreme Court lawyer Swapnil Kothari said the Bombay High Court's decision was based on detailed examination of records and the Solicitor General's argument that the write-off was necessary to save the bank was not accepted; the administrators lacked authority to write off the bonds.
- Kothari added that allowing this would set a precedent for other banks to seek similar write-offs, and the court emphasized corporate transparency and accountability to bondholders.
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Source: Live TV News Channel · 15 Oct 2026
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