Yes Bank has asked India’s Supreme Court to revisit the ruling overturning its write-off of 84.15 billion rupees (₹8,415 crore, about $894 million) in additional tier-1 (AT-1) bonds. The bank said on November 13, 2026, that it had filed the review petition, Reuters reported in The Economic Times. Source
The move follows a contempt petition from Axis Trustee Services, acting for bondholders. The trustee alleged that Yes Bank had failed to provide a “concrete roadmap” for restoring the bonds and implementing the judgment, Reuters reported. Source
The bank has warned that the ruling could knock about 2.5 percentage points off a key capital ratio, Bloomberg reported. Source
Why the courts rejected the write-off
The bank wants the Supreme Court to reconsider its October 15, 2026, order dismissing appeals against the Bombay High Court’s January 20, 2023, judgment. That judgment threw out the administrator’s March 2020 decision to write off the bonds, The New Indian Express reported. Source
According to Reuters, the Supreme Court said the administrator had acted under the “erroneous impression” that he still had the power to write down the bonds after the restructuring scheme was finalized. The court called the write-off “impermissible.” Source
Risky bonds, unresolved restoration
AT-1 bonds are high-risk bank debt with no fixed maturity. They help strengthen a bank’s capital base and offer higher returns. The catch: they can be written off or converted into equity when a bank comes under financial stress. Source Source
Neither Reuters nor The New Indian Express gives a hearing date or a confirmed timetable for restoring the bonds. Source Source
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