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India's Supreme Court upholds ruling quashing YES Bank's ₹8,415-crore AT1 bond write-off

The Economic Times reports the bank's administrator lacked authority to write off the bonds under its 2020 reconstruction plan.

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TLDR

The Economic Times reports that India's Supreme Court upheld a 2023 ruling quashing YES Bank's ₹8,415-crore AT1 bond write-off during its 2020 reconstruction. The court found that the bank's administrator lacked authority to write off the bonds. The verdict does not require immediate repayment of the full amount; its financial impact depends on how it is implemented. Japan's SMBC holds a 24.9% stake in YES Bank.

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ET Economic Times@EconomicTimes 1:50 AM · Oct 17, 2026
SBI helped save YES Bank, Japan came aboard, and now an Rs 8,415-crore ghost is crashing its comeback
Economic TimesSBI helped save YES Bank, Japan came aboard, and now an ₹8,415-crore ghost is crashing its comebackYES Banks ₹8,415-crore AT1 bond write-off, carried out during its 2020 reconstruction, has returned to the spotlight after the Supreme Court upheld a ruling quashing the decision. The verdict could have implications for the lenders capital position, earnings and bondholders, with the eventual financial impact depending on how the ruling is implemented. The development comes as YES Bank continues its recovery and Japans SMBC holds a 24.9% stake, making the outcome significant for the bank, its investors and its future financial position.