Yes Bank said on November 13 that it has filed a review petition in the Supreme Court against the judgment and order relating to the write-down of Additional Tier-1 (AT-1) bonds worth Rs 8,415 crore.
In a regulatory filing, the private sector lender said it had filed the petition under Article 137, seeking a review of the Supreme Court's October 15 order concerning the write-down of the AT-1 bonds.
The Supreme Court's October 15 ruling has significant implications for the bank's capital position, as restoration of the bonds could affect its regulatory capital ratios.
Yes Bank had earlier disclosed the implications of the judgment through regulatory filings. The bank has now approached the apex court seeking a review of the order.
The lender said it would make further disclosures on material developments.
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Supreme Court upheld Bombay High Court order
The dispute goes back to March 2020, when Yes Bank's administrator decided to write down Rs 8,415 crore worth of AT-1 bonds as part of the bank's restructuring.
Axis Trustee had challenged the decision before the Bombay High Court, which quashed the write-off in January 2023. YES Bank, the RBI and the Union government subsequently challenged the order before the Supreme Court.
On October 15, 2026, the Supreme Court dismissed the appeals and upheld the Bombay High Court judgment.
Yes Bank has also rejected allegations of wilful disobedience made by Axis Trustee Services over the delay in restoring the AT-1 bonds. The trustee has threatened to initiate contempt proceedings against the lender if the bonds are not reinstated.
