Yes Bank bondholders seek court enforcement of AT-1 bond order
In short
Yes Bank bondholders went to the Supreme Court and filed a contempt petition over the bank’s AT-1 bonds. The case relates to an order that set aside Yes Bank’s write-off of ₹84 billion in bonds.
Axis Trustee Services, which represents the bondholders, asked the court to make Yes Bank follow the ruling. The move puts fresh legal pressure on the lender.
What the reporting says
Yes Bank bondholders filed a contempt petition in the Supreme Court over the restoration of AT-1 bonds. The petition follows a ruling that upheld the setting aside of the lender’s write-off of ₹84 billion in bonds. Axis Trustee Services, acting for the bondholders, sought directions to enforce the court order after Yes Bank did not comply with the restoration decision.
Why it matters
Bondholders in Yes Bank have taken the dispute over AT-1 bonds back to the Supreme Court through a contempt petition. The filing seeks enforcement of a ruling that set aside the bank’s write-off of ₹84 billion in bonds. Axis Trustee Services is representing the bondholders and says the bank has not complied with the restoration order, making the legal fight a live issue for creditors and the lender.