Supreme Court Overturns RBI Write-Off of Yes Bank Bonds
The Supreme Court ruled against the Reserve Bank of India and government by invalidating a six-year-old decision that canceled Yes Bank's additional tier-1 bonds worth ₹8,415 crore. The court criticized the manner of the write-off, stating the administrator lacked authority to act on RBI's powers. This follows the Bombay High Court's 2023 quashing of the write-off. Yes Bank shares fell 14.5% after the ruling.
HT Business·



