On October 15, 2026, the Supreme Court of India upheld the Bombay High Court’s decision to quash the write-off of Yes Bank’s Additional Tier-1 (AT1) bonds worth ₹8,415 crore. The write-off was part of the bank’s reconstruction scheme in March 2020. The ruling ends a multi-year legal battle brought by bondholders and means Yes Bank must address the reinstated debt claims.
Yes Bank shares fell as much as 20% in intraday trading after the verdict. The claims could affect the bank’s capital buffers. Yes Bank said it is examining the judgment and its implications. The ruling also sets a major legal precedent for the treatment of bondholders in Indian bank rescue operations.