💨 Abstract

The Supreme Court has referred pleas challenging a Bombay High Court order that quashed Yes Bank's decision to write off AT-1 bonds worth Rs 8,415 crore as part of a bailout to another bench. The AT-1 bonds are riskier perpetual bonds issued by banks to increase their capital base. The top court will hear the pleas next week, and has assured AT-1 bond investors of finding a solution to their financial trouble.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖