Supreme Court upholds HC order quashing Yes Bank’s ₹8,415 cr AT-1 bond write-off

In a setback to private lender Yes Bank, the Supreme Court on Thursday upheld the Bombay High Court’s judgment quashing the bank’s ₹8,415 crore AT-1 bond write-off.The verdict has implications for how banks use these instruments to absorb losses during a financial crisis and for investors who hold them. It could clarify the extent to which banks can write off these instruments during a financial crisis and the legal procedures they must follow.A bench of Justices Dipankar Datta and Augustine…