Supreme Court strikes down Yes Bank's ₹8,415-crore AT-1 bond write-off
Anupama VM
- 0 min read
Last Updated: 15th October 2026 - 05:39 pm
The Supreme Court on October 15 upheld the quashing of Yes Bank's ₹8,415-crore write-off of additional tier-1 (AT-1) bonds, rejecting the lender's challenge in the Yes Bank AT-1 bond write-off case.
The Supreme Court specified coupon rates of 9.5% and 9% for the AT-1 bonds that Yes Bank must honour. The lender is liable to pay bondholders ₹8,415 crore plus interest, according to the court.
The Yes Bank share price plunged 12.5% in the session’s trade after the verdict. Yes Bank’s stock was last trading at Rs18.55 on the session’s data at 2:45 pm on October 15.
On January 20, 2023, the Bombay High Court had cancelled Yes Bank’s decision to write off its bonds. The Administrator was not authorized to take this decision.
The Bombay High Court also held that the Reserve Bank of India's Final Reconstruction Scheme did not include writing down or writing off the AT-1 bonds.
Yes Bank had written off the bonds as part of its bailout in March 2020, according to the lender.
For the next stage of the case, the Supreme Court bench directed the parties to submit a list of dates and a common compilation of records and case laws. The matter was listed for hearing on March 20.
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