Yes Bank recovers Rs 184 crore from sale of Bhushan Steel to Tata Steel

Against claims of Rs 325 crore

Yes Bank has recovered an amount of Rs 184 crore, against an original claim filed for Rs 325 crore, pursuant to sale of Bhushan Steel to Tata Steel under the recently concluded NCLT/ Insolvency and Bankruptcy Code proceedings.

With this recovery, the Bank has an exposure to only one account, aggregating to only Rs 23.4 crore (with 50% provision) as on 31 March 2018, from borrowers referenced in the List 1 of the RBI IBC NCLT process.

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