Yes Bank files Supreme Court review petition on AT-1 bond write-down

Yes Bank has filed a review petition in the Supreme Court under Article 137 against the October 15, 2026 judgment that quashed its March 2020 write-down of Rs 8,415 crore in Additional Tier-1 (AT-1) bonds. The bank disclosed the filing in an exchange filing on Friday, 13 November 2026, and said any material developments will be disclosed as per listing regulations.

Business Standard reports that the dispute involves two bond issuances: Rs 3,000 crore at 9.5% coupon issued in December 2016 and Rs 5,415 crore at 9% coupon issued in October 2017. The bank had written down the instruments in March 2020 as part of RBI's reconstruction exercise when it was grappling with bad loans. The Supreme Court upheld the Bombay High Court's January 2023 ruling that restored the bonds.

Axis Trustee Services had threatened contempt proceedings over alleged non-compliance with the judgment. Yes Bank has described the trustee's assertions as baseless and without merit. The bank had earlier indicated that reinstatement of the principal could impact its Common Equity Tier-1 capital ratio by around 250 basis points based on the June 2026 position.

Update, 13 November 2026: Business Standard reports that the review petition was filed on 13 November 2026, and that the bond issuances were worth Rs 3,000 crore and Rs 5,415 crore. It adds that the bank had earlier indicated reinstatement could impact its Common Equity Tier-1 ratio by around 250 basis points based on the June 2026 position.