The Securities and Exchange Board of India (Sebi) on Friday imposed a penalty of Rs 2 crore on Rana Kapoor, former MD & CEO, Yes Bank in a case pertaining to mis-selling of Additional Tier 1 (AT1) bonds of the lender.
The market regulator in its order has alleged that Kapoor pressured officials of its Private Wealth Management (PWM) team to “device devious scheme to dump the AT1 bonds on hapless customers of YBL/individual investors.”
The AT1 bonds of Yes Bank were entirely written off as a part of a restructuring scheme. This caused huge losses to retail
The market regulator in its order has alleged that Kapoor pressured officials of its Private Wealth Management (PWM) team to “device devious scheme to dump the AT1 bonds on hapless customers of YBL/individual investors.”
The AT1 bonds of Yes Bank were entirely written off as a part of a restructuring scheme. This caused huge losses to retail