Yes Bank crisis: Bombay High Court quashes RBI-appointed administrator’s order writing down over ₹8,000 crore bonds

The Court opined that the administrator did not have powers to write down once the bank stood reconstituted and hence, the said decision ought to be quashed and set aside.
yes bank
yes bank

The Bombay High Court on Friday quashed and set aside a decision of the administrator appointed by the Reserve Bank of India (RBI) for Yes Bank Pvt Ltd. to write down Additional Tier-1 (AT1) bonds of ₹8,300 crore subscribed by shareholders. [Axis Trustee Services Limited v. UOI & Ors.]

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