Yes Bank shares nosedive 20% after SC declares Rs 8,415 crore AT-1 bond write-off illegal

What happened: India's Supreme Court declared the write-off of Yes Bank's AT-1 bonds unlawful. Yes Bank shares fell 20 percent after the ruling, which went against the positions of the RBI and the central government. Key numbers: Rs 8,415 crore in AT-1 bonds written down to zero, Why it matters: The ruling offers solace to bondholders who argued their investments were misrepresented. It raises questions about regulatory practices and bondholder rights, and Yes Bank may face obligations from the disputed bonds, though the impact depends on the detailed judgment and its implementation.

India's Supreme Court declared the write-off of Yes Bank's AT-1 bonds unlawful. Yes Bank shares fell 20 percent after the ruling, which went against the positions of the RBI and the central government.

The ruling offers solace to bondholders who argued their investments were misrepresented. It raises questions about regulatory practices and bondholder rights, and Yes Bank may face obligations from the disputed bonds, though the impact depends on the detailed judgment and its implementation.