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Top Law Firms in Yes Bank Bailout Plan [Read Yes Bank Reconstruction Scheme 2020]

Bar & Bench

The Ministry of Finance has notified the reconstruction scheme proposed by the Reserve Bank of India (RBI) for private sector lender YES Bank, that will be led by State Bank of India (SBI), the investor bank.

The other investors in the plan include HDFC, ICICI Bank, Axis Bank, Kotak Mahindra Bank, The Federal Bank, Bandhan Bank and IDFC First Bank.

The SBI board has cleared the plan for the Public Sector Bank to invest Rs. 7,250 crore in YES Bank.

According to the Yes Bank release to the Bombay Stock Exchange, here are the equity strength of new investors.

Yes Bank Shareholders
Yes Bank Shareholders

Here are the Top law firms are involved in this bailout plan:

Cyril Amarchand Mangaldas led by Managing Partner Cyril Shroff along with Partners L Viswanathan, Ruetveij Pandya , Dhananjay kumar, Gautam Gandotra is advising the investor bank, State Bank of India.

AZB & Partners is acting for Yes Bank, led by Partner Varoon Chandra.

Cyril Shroff
Cyril Shroff

Argus Partners acted for HDFC and the team was led by Managing Partner Krishnava Dutt, Partner Adity Chaudhury and Associates Ashish Patel and Kshitija Naik.

ICICI Bank was represented by its in-house team.

As per the RBI notified scheme, the authorized capital of Yes Bank has been increased from 1,100 crore to 6,200 crore.

SBI, the investor bank will have to retain a minimum 26% stake in YES Bank for three years, as per the RBI scheme. As for the other investors, they will have to keep 75% of their holdings for minimum three years.

The moratorium on YES Bank would cease to have effect on the third working day at 18:00 hours from the date of commencement of this scheme.

Read The Reconstruction Scheme

Yes Bank Reconstruction Scheme 2020.pdf
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