NDTV Profit reported that Axis Trustee Services Ltd. has pressed Yes Bank to restore ₹8,415 crore in bonds after a court ruling; the bank’s filing shows a possible ₹5,217 crore pro forma loss.
The outlet said the Oct. 28 notice sought to restore the bonds for their original holders or legal successors and reverse the write-off. It also reported that the trustee called for both series to be reactivated through the National Securities Depository Ltd. and Central Depository Services Ltd., then returned to trading on BSE and NSE.
The Supreme Court of India dismissed appeals by Yes Bank, the Reserve Bank of India (RBI) and the Union of India on Oct. 15. A Bombay High Court order from Jan. 20, 2023, setting aside the write-down therefore remains operative.
The Supreme Court judgment points to a difference between draft and final versions of the reconstruction scheme. The version notified March 13, 2020, did not retain a proposed clause for writing down the AT-1 bonds; the bank’s administrator wrote them down the following day. The disputed debt comprises a ₹3,000 crore tranche issued Dec. 23, 2016, and a ₹5,415 crore tranche issued Oct. 18, 2017. AT-1 bonds count toward bank capital and may absorb losses under specified conditions.
Yes Bank’s Q2 FY27 filing says the judgment’s potential financial effect was not included in results for the quarter ended Sept. 30, 2026. Its indicative, unaudited standalone pro forma figures show a post-tax net loss of ₹5,217 crore if the estimated impact had been recognized, compared with reported net profit of ₹1,080 crore. The bank said the figures are subject to revision.
The Supreme Court said annual coupon payments must follow the bonds’ Information Memoranda. Yes Bank said in its Oct. 24 filing that it retained discretion over coupon payments and was still assessing the judgment. The court set no timetable for restoring the securities.
