YES BANK Limited Regulatory Clarification
Company's Response to Exchange Query
YES BANK Limited submitted this clarification on October 15, 2026, in response to the National Stock Exchange of India Limited's letter Ref. No. NSE/CM/Surveillance/17718 dated 15 October 2026. The query sought clarification regarding a news item appearing on CNBC-TV18 on 15 October 2026, captioned "Yes Bank share price sees sharp fall of 10% after Supreme Court ruling on ₹8,400 crore AT-1 bond write-off".
Clarification on Trading Volume and Supreme Court Proceedings
The Bank confirmed that the matter concerns judicial proceedings relating to the write-down of Additional Tier-1 Bonds (AT-1 Bonds) aggregating ₹8,415 crore undertaken in March 2020. The Bank provided the following sequence of events:
- On 14 March 2020, the Bank informed Stock Exchanges via letter no. YBL/CS/2019-20/186(2) regarding the write-down of AT-1 Bonds
- Writ petitions were filed before the Bombay High Court challenging the write-down
- On 26 May 2020, the Bank responded to exchange query stating Axis Trustee Services Limited had filed a writ petition on behalf of bondholders
- On 20 January 2023, the Bank informed exchanges that the Bombay High Court had set aside the write-down decision, with operation stayed for six weeks
- On 4 March 2023, the Bank informed exchanges that Special Leave Petitions were filed before the Supreme Court, which extended the stay
- On 15 October 2026, the Supreme Court pronounced its judgment in the appeals
The Bank is currently obtaining and examining the final order copy of the judgment and will make further disclosures as required.
Regulatory Compliance with SEBI Regulations
The Bank specifically addressed compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015:
- The Bank is not aware of any information concerning the Bank, other than the judgment pronouncement, that has not been announced to Stock Exchanges
- The Bank respectfully submits there has been no failure to disclose material events under Regulation 30
- All material developments in the proceedings were disclosed to Stock Exchanges from time to time
- The outcome before the Supreme Court arose only upon pronouncement of the judgment on 15 October 2026
Details of Financial Impact Assessment
The Bank noted the movement in the market price of its equity shares following publication of the news article and pronouncement of the judgment. Regarding the impact of the underlying Supreme Court judgment:
- The Bank is in the process of obtaining and examining the final order copy
- The Bank is assessing the judgment's implications
- The Bank will make further disclosures as may be required
The Bank remains committed to ensuring timely, accurate and adequate disclosure of material information to Stock Exchanges.
Topic Tags: Regulatory Response, Supreme Court Judgment, AT-1 Bonds, SEBI Compliance, Stock Price Movement