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Supreme Court upheld the Bombay High Court ruling that Yes Bank's AT1 bond write-off during its 2020 reconstruction was invalid, leaving shareholders to bear the cost; stock fell nearly 8.5%
By ScoutQuest · · 1 min read
- Equity share capital
- 6200 crore rupees
- Stock reaction today
- 8.5 percent
- AT1 bonds at stake
- 8400 crore rupees
Heard on business television between 14:24:38 - 14:27:38 IST.
- Yes Bank stock fell almost 8.5% after the Supreme Court declined to interfere with the Bombay High Court's judgment invalidating the AT1 bond write-off.
- Senior Supreme Court lawyer Swapnil Kothari said the High Court had examined all cabinet and meeting records before ruling, and the Supreme Court found no error apparent on the face of the record to warrant interference.
- Solicitor General Tushar Mehta had argued the write-off was necessary to save the bank, but this argument was rejected by both courts.
- Kothari said the administrators acted beyond their authority in writing off bonds worth Rs 8,400 crore, and allowing this would invite other banks to seek similar relief.
- He said the ruling was important for corporate jurisprudence and transparency, holding the bank accountable to bondholders and the public.
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Source: Live TV News Channel · 15 Oct 2026
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