Page 13 - Yes Bank

SC issues notices on pleas against HC order on YES Bank's AT1 bonds

The Supreme Court on Friday issued notices to Axis Trustee Services Ltd on a batch of appeals filed by the Reserve Bank of India (RBI) and others challenging a Bombay High Court order quashing a decision of the Yes Bank Administrator to write off Additional Tier 1 (AT-1) bonds. The top court also extended the stay on the operation of the Bombay High Court order quashing the decision of the Yes Bank Administrator to write off AT-1 bond worth Rs 8,415 crore as part of the bailout in March 2020. A bench headed by Chief Justice D Y Chandrachud, however, assured the AT-1 bond investors that it would try to find out some kind of solution to the financial trouble being faced by them after senior advocate Mukul Rohatgi, appearing for Axis Trustee Services Ltd, said the invested money has become zero for no fault of theirs. It was the top officials of the bank who brought down the bank. Their men are in jail. Our money has become zero... we are not Tata-Birla. We are institutional investors.

SC issues notice to Axis on a batch of RBI appeals to write off AT-1 bonds

The Supreme Court on Friday issued notices to Axis Trustee Services Ltd on a batch of appeals filed by the Reserve Bank of India (RBI) and others challenging a Bombay High Court order quashing a decision of the Yes Bank Administrator to write off Additional Tier 1 (AT-1) bonds. A bench headed by Chief Justice D Y Chandrachud took note of the submissions of Solicitor General Tushar Mehta, appearing for RBI, and senior advocate Kapil Sibal, representing Yes Bank, and extended the stay on the high court order quashing the decision of writing off AT-1 bonds. The Bombay High Court, while quashing the decision of the Yes Bank Administrator, had however said its decision will be in abeyance so the central bank and Yes Bank may appeal against it in the apex court. Issue notice. The stay granted (by the Bombay HC on its decision) will continue, said the bench, which also comprised justices P S Narasimha and J B Pardiwala. AT-1 bonds have no maturity date. These debt instruments offer highe

YES Bank moves SC against Bombay HC ruling on AT1 bond write-off

The HC had given the bank six weeks' time to challenge the order in the apex court

NCLT directs Insolvency proceeding against Zee Learn, after Yes Bank's plea

The National Company Law Tribunal (NCLT) has directed to initiate insolvency proceedings against Zee Learn, following a petition filed by private sector lender Yes Bank Ltd. Yes Bank Ltd (YBL) had claimed a default of Rs 468.99 crore by the Essel Group company. Out of the default amount of Rs 468.99 crore, the principal amount was Rs 410.67 crore and Rs 58.32 was interest. The date of default was August 2, 2021. A two-member bench of the Mumbai NCLT said the application made by the financial creditor Yes Bank is complete in all respects as required by law. "It clearly shows that the Corporate Debtor (Zee Learn) is in default of a debt due and payable, and the default is in excess of the minimum amount stipulated under section 4(1) of the IBC," said NCLT. Therefore, the debt and default stand established and there is no reason to deny the admission of the Petition. "In view of this, this Adjudicating Authority (NCLT) admits this Petition and orders initiation of CIRP against the .

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, PolicyBazaar added to FPI cart in October-December quarter

FPI holding rose to 20.18%, reinforced by Rs 47,349-crore inflows

RBI okays appointment of sitting YES Bank exec Rajan Pental as ED

Pental, who has been with YES Bank since November 2015, will continue to head retail banking; he is also non-executive director at YES Securities

SC sets aside Allahabad HC order refusing to entertain YES Bank's plea

The Supreme Court Tuesday set aside the Allahabad High Court order refusing to entertain the Yes Bank plea challenging police investigation into an FIR lodged by the Essel Group in connection with the bank-Dish TV dispute on pledging of shares. A bench comprising Chief Justice DY Chandrachud and Justices PS Narasimha and JB Pardiwala also directed that its earlier order of November 30, 2021 staying police investigation in the FIR shall remain in operation till the high court has disposed of the Yes Bank's plea against the FIR. The top court remanded the case to the high court for fresh disposal on merits within a period of two months after the receipt of the certified copy of its order. We are of the considered view that the Allahabad High Court was not justified in not dealing with the petition (of Yes Bank) on the ground that the alternative remedy was available under section 451 and 457 of the CrPC (Code of Criminal Procedure). The high court ought to have addressed itself the ..

AT1 bond setback: Carlyle, Advent supportive, says YES Bank MD & CEO

The stock tanks 8.33% following Bombay HC order and weak Q3 showing

YES Bank tanks 12% on heavy volumes as Q3 net plunges 81%

The management said it would be difficult to give guidance on margins (NIMs) due to pressure from pricing deposits.

Stocks to watch: ICICI Bank, RIL, UltraTech, Adani Ent, SBI Life, Petronet

Stocks to Watch: Shares of Axis Bank, Canara Bank, IDBI, Jindal Stainless and Tata Communications will be in focus ahead of Q3 results on Monday.

YES Bank Q3 net down 80.7% at Rs 52 crore as ageing bad loan hurt

YES Bank's net interest income was up 11.7% YoY in Q3 to Rs 1,971 crore. Sequentially, NII declined from Rs 1,991 crore

YES Bank reports surprise 80% plunge in Q3 profit to Rs 51 cr as NPAs rise

Net profit fell to Rs 51.52 crore for the three months through December from Rs 266 crore

Rs 8,000-crore YES Bank AT1 bond write-off set aside by Bombay HC

Order stayed for six weeks; bank may challenge the verdict in SC

Bombay High Court quashes write-off of YES Bank's additional AT1 bonds

The final order is yet to be uploaded on the court website and the bank can choose to appeal in Supreme Court

Sebi probes investments between Nippon Mutual Fund, YES Bank: Report

As of December 2022, Nippon India was the seventh-largest mutual fund in India with assets under management of 2.9 trillion rupees ($35.46 billion) as well as the biggest foreign-owned mutual fund

YES Bank transfers invoked shares of 7 cos including Dish TV to JC Flowers

Yes Bank has transferred invoked shares of seven companies, including Dish TV, Asian Hotels (North) and Avantha Realty, to JC Flowers Asset Reconstruction, which has been assigned to recover debt worth over Rs 48,000 crore of the private sector lender. The invoked equity shares held by Yes Bank aggregating to 44,53,48,990, representing 24.19 per cent of the total share capital of Dish TV India, have now been transferred to JC Flowers Asset Reconstruction Pvt Ltd, the lender said in a regulatory filing on Thursday. The transfer of invoked shares is pursuant to assignment of loans sanctioned by the bank to Essel group companies (in respect of which default is subsisting and pledge on company's shares was invoked by Yes Bank), it added. Besides, it has transferred 14,02,991 shares, representing 7.21 per cent of the total share capital of Asian Hotels (North) to the asset reconstruction company (ARC), the bank said in a separate filing. In the case of Avantha Realty, Yes Bank said it h

Yes Bank completes transfer of $5.81 bn worth bad loans to JC Flowers

Yes Bank's gross bad loan ratio edged down to 12.89% at the end of the Sept quarter from 13.45% at the end of June

Yes Bank assigns Rs 48k cr stressed asset loan portfolio to JC Flowers ARC

Yes Bank has concluded assignment of the Rs 48,000-crore stressed asset loan portfolio of the bank to JC Flowers Asset Reconstruction company. The bank had earlier declared JC Flowers Asset Reconstruction Private Limited (JC Flowers ARC) as the winner of the Swiss Challenge process for sale of its identified portfolio of stressed assets. "The bank has now concluded assignment of identified stressed loan portfolio of the bank aggregating to up to Rs 48,000 crore as on March 31, 2022 under 15:85 structure, after adjusting recoveries between 1st April 2022 to 30th November 2022," Yes Bank said in a regulatory filing on Saturday.

Sensex gains 145 pts ahead of US Fed outcome; YES Bank slumps 8%, Paytm 2%

CLOSING BELL: The broader markets, on the other hand, outperformed the benchmark indices as the BSE MidCap and SmallCap indices advanced 0.59 per cent and 0.68 per cent, respectively