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Yes Bank examining Supreme Court ruling that upheld Bombay High Court's decision setting aside its Rs 8,415 crore write-off of AT1 bonds; may seek legal review
By ScoutQuest · · 1 min read
- AT1 bonds written off
- Rs 8,415 crore
- Estimated one-time earnings impact
- Rs 5,300 to 5,400 crore
- Normal quarterly profit run rate
- approximately Rs 1,000 crore
- Q1 FY27 standalone net profit
- Rs 1,071 crore
- Hit without profit offset
- about Rs 6,300 crore
Heard on business television between 09:50:05 - 09:53:05 IST.
- Supreme Court upheld Bombay High Court's decision setting aside Yes Bank's Rs 8,415 crore write-off of AT1 bonds done in March 2020, ruling the administrator lacked authority to write them down.
- Sources said Yes Bank is examining legal options including a possible review petition to the Supreme Court, which would require views from government and RBI.
- Reinstating the bonds could cause a one-time net earnings impact of about Rs 5,300-5,400 crore, several times the bank's quarterly profit run rate of about Rs 1,000 crore; Yes Bank's Q1 FY27 standalone net profit was Rs 1,071 crore.
- Judgment's paragraph 81 says coupon payments must remain unaffected, but the bond memorandum leaves coupon payment at the bank's discretion, so payouts may not be mandatory.
- Reinstatement does not mean immediate cash outflow since these are perpetual instruments with a call option; the hit is expected in Q2 (results due tomorrow) or deferred to Q3.
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