The Bombay High Court on Friday quashed the write-off of additional Tier-1 (AT1) bonds issued by Yes Bank Ltd , according to a court order.
A customer tries to look into a Yes Bank branch in Mumbai, India, March 6, 2020. REUTERS/Francis Mascarenhas
Additional Tier-1 bonds are high-yield securities that typically have loss-absorbing features, meaning they can be written off if a lender's capital falls below a crucial level, which was invoked in Yes Bank's case. However, the court offered relief to bondholders with exposure of 84.5 billion rupees to these bonds.
"It appears that administrator exceeded his powers and authority in writing off AT-1 bonds after the bank was reconstructed on March 13, 2020," according to the court order.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Exclusive: India regulator probes investments between Nippon Mutual Fund, Yes Bank, sources sayAn Indian regulator is investigating investments between Nippon India Mutual Fund, the largest foreign-owned fund in the country, and Yes Bank between 2016 and 2019 for suspected misuse of investors' money, sources said.
Leer más »
DAVOS 2023 Crypto collapse brings focus to digital assets' 'true value' - ex-India central bank governorThe collapse in the prices of digital assets over the past year will allow investors to focus on the 'true value' of this new technology, the distributed ledger and the smart contracts that can be built on them, former Reserve Bank of India Governor Raghuram Rajan said on Wednesday.
Leer más »
National Australia Bank Becomes Second Australian Bank to Build Stablecoin: ReportThe National Australia Bank (NAB) will be launching its stablecoin AUDN in the middle of 2023 to allow its customers to settle transactions on blockchain. By amitoj.
Leer más »
India says BBC documentary on India PM Modi is 'propaganda'India's foreign ministry spokesperson on Thursday said a recently broadcast BBC documentary on Prime Minister Narendra Modi, which questions his leadership during the 2002 Gujarat riots, was 'propaganda.'
Leer más »
CBDCs Are Dividing Opinion. Are They the Future of Money... or a Gimmick? | CoinMarketCapcryptonews: With the Davos World Economic Forum in full swing, central bank digital currencies received a chorus of support from the business, banking and government leaders. 🧐 CBDCs Are Dividing Opinion 👇
Leer más »
FTX-linked Moonstone bank to exit the crypto spaceMoonstone Bank, a rural bank with links to FTX is exiting the crypto space and rebranding, citing “recent events in the crypto assets industry and the changing regulatory environment surrounding crypto asset businesses.”
Leer más »