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YES Bank crisis: Indiabulls Housing moves court seeking relief on AT1 bonds

According to court documents, the matter was mentioned on Monday. The plea will be clubbed with the petition filed by Axis Trustee, which represents the majority of the bondholders.

Indiabulls had its compulsions: It desperately wanted a banking licence but why would any bank in their right mind want to acquire LVB?

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YES Bank in an exchange disclosure stated that AT1 bonds aggregating to Rs 8,415 crore will be fully written down, with immediate effect.

Jash Kriplani Mumbai

2 min read Last Updated : Mar 17 2020 | 1:03 AM IST

Indiabulls Housing Finance moved the Bombay High Court on Monday, seeking relief on YES Bank's additional tier-1 (AT-1) bonds that be written down when the Reserve Bank of India (RBI) completes the reconstruction of the private lender.

Indiabulls Housing has an exposure of Rs 662 crore to YES Bank's AT-1 bonds.

An e-mail query sent to Indiabulls Housing Finance didn't elicit any response at the time of going to press.

According to court documents, the matter was mentioned on Monday. The plea will be clubbed with the petition filed by Axis Trustee, which represents the majority of the bondholders.

Topics : YES Bank Crisis YES Bank Indiabulls Housing Finance Mutual Funds

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