YES Bank approaches Supreme Court against Bombay HC decision on AT-1 bonds

On January 20, the Bombay High Court had quashed YES Bank's decision to write off AT-1 bonds in March 2020

YES Bank has approached the Supreme Court to challenge the Bombay High Court's January 20 order quashing the write-off of the additional tier-1 (AT-1) bonds, a report by BQ Prime said quoting two people aware of the developments. The bank has said that its administrator had the power to write off these bonds worth Rs 8,415 crore. 

On January 20, the Bombay High Court quashed YES Bank's decision to write off AT-1 bonds in March 2020.  

"The final scheme sanctioned by the Central government did not contain the clause or provision for writing down AT-1 bonds," the court had said.

The court had