You are here: Home » Companies » News
Business Standard

Yes Bank crisis: Indiabulls Housing says bank owes it Rs 662 cr in bonds

The investments in AT-1 bonds of Yes Bank were made in 2017, as part of its treasury management of over Rs 20,000 crore of cash and when the bank was worth over USD 10 billion in value, it said

Press Trust of India  |  New Delhi 

Photo- Dalip Kumar
The statement from Indiabulls Housing comes amid arrest of Yes Bank co-founder and former CEO Rana Kapoor. Photo- Dalip Kumar

Housing Finance on Sunday said owes Rs 662 crore in the form of bonds to the company and it has no term loans outstanding from the lender.

"We wish to inform that owes to Housing Finance Rs 662 crore via additional tier 1 (AT-1) bonds," it said in a regulatory filing.

The investments in AT-1 bonds of were made in 2017, as part of its treasury management of over Rs 20,000 crore of cash and when the bank was worth over USD 10 billion in value, it said.

"Housing Finance has no term loans outstanding from Yes Bank," it said.

Sameer Gehlaut, promoter of Indiabulls Housing Finance, or any of his or any of his family member have no loans outstanding from Yes Bank, the non-banking finance company said further.

The statement from Indiabulls Housing comes amid arrest of Yes Bank co-founder and former CEO Rana Kapoor, on alleged money laundering charges and that the loans by the lender to DHFL turned sour.

Yes Bank has been put under moratorium until April 3, during which period customers will not be allowed to make withdrawal of more than Rs 50,000, as also the board has been superseded by the Reserve Bank of India (RBI) through appointment of an administrator, Prashant Kumar, former executive of SBI.

A plan of reconstruction of Yes Bank is underway under the RBI, wherein SBI will stake claim of 49 per cent equity in the crippled private sector lender through an investment of Rs 2,450 crore.

First Published: Sun, March 08 2020. 16:24 IST
RECOMMENDED FOR YOU