YES Bank files SC review plea over AT-1 bonds: What does it mean for investors after stock's 15% rebound?

Resumen detallado

YES Bank has asked the Supreme Court to review its October 15 ruling against the write-down of ₹8,415 crore in AT-1 bonds. The move follows a bondholders’ trustee’s contempt petition seeking restoration of the bonds. The ruling has weighed on the bank’s capital outlook and share price.

aimeShares of YES Bank are likely to remain in focus on Monday after the private sector lender approached the Supreme Court seeking a review of its October 15 judgment concerning the write-down of Additional Tier-1 (AT-1) bonds worth ₹8,415 crore, reopening a legal battle over the controversial financial instruments.

In a regulatory filing on Friday, the lender said it had filed a review petition under Article 137 of the Constitution of India, seeking a review of the Supreme Court's judgment and order dated October 15, 2026.

The review petition comes days after Axis Trustee Services, acting on behalf of bondholders, filed a contempt petition in the Supreme Court, alleging that the lender had failed to provide a "concrete roadmap" for restoring the bonds and implementing the court's judgment.

In a notice dated October 28, Axis Trustee Services Ltd, which represents investors holding the bonds, asked YES Bank's managing director and board to restore the bonds in its register of holders to their status before the March 2020 write-down. The development was reported in a letter the trustee sent to the bondholders' association on Thursday, accessed by Mint.

Earlier, Reuters reported, citing sources, that YES Bank was preparing to seek a review of the ruling after it refused to pay coupons due this year on its AT-1 bonds, despite the Supreme Court's judgment.

The latest development follows a series of disclosures made by the bank between October 15 and October 30 regarding the Supreme Court's ruling on the AT-1 bonds issued by the lender.

YES Bank said it would make further disclosures about material developments in the matter as required under the listing regulations.

Yes Bank plunged into a liquidity crisis in March 2020 as bad loans mounted, prompting the Reserve Bank of India (RBI) to take control of the lender and impose restrictions on withdrawals.

As part of the reconstruction, the bank’s administrator wrote down around ₹8,415 crore worth of Additional Tier-1 (AT-1) bonds…

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