Supreme Court rules against Yes Bank's write-off of Rs 8,415 crore AT1 bonds

The Supreme Court of India has ruled against Yes Bank's write-off of Rs 8,415 crore in Additional Tier 1 (AT1) bonds. The court confirmed the decision of the Bombay High Court, stating that the bank's administrator lacked the authority to write down these bonds during the bank's 2020 restructuring. Bondholders had contested the write-off, alleging mis-selling of the securities. As a result, Yes Bank is now obligated to repay the bonds.