REG - YES Bank Limited - Disclosure under Reg.30ofIndian Listing Regulation

Yes BankAnnouncement

23/01/2023 07:01

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RNS Number : 4697N  YES Bank Limited  21 January 2023

YBL/CS/2022-23/Int/027

 

January 21, 2023

 

 India International Exchange IFSC Limited       The Singapore Exchange Securities Trading Limited

 101 First Floor, Hiranandani Signature Tower,   2, Shenton Way #19-00

 GIFT City IFSC - 382355, Gujarat, India         SGX Centre 1, Singapore 068804
 The London Stock Exchange

 10, Paternoster Square,

 London, EC4M 7LS

 

Dear Sir / Madam,

 

Sub.: Disclosure under Reg. 30 of the Indian Listing Regulations

 

Ref.: Intimation vide letter dated March 14, 2020

 

YES Bank Limited ("the Bank") had written down Additional Tier-1 Bonds ("AT-1
Bonds") aggregating to INR 8,415 Crore. The said decision of the Bank was
intimated to the Indian Stock Exchanges vide letter Ref. No.
YBL/CS/2019-20/186(2) dated March 14, 2020 ("Stock Exchange Intimation"). A
copy of the Stock Exchange Intimation is enclosed.

 

Multiple writ petition(s) were filed before the Hon'ble Bombay High Court
challenging the write down of AT-1 Bonds and the Stock Exchange Intimation.

 

The Hon'ble Bombay High Court vide judgment dated January 20, 2023 has set
aside the Stock Exchange Intimation and decision of the Bank to write down
AT-1 Bonds. At the request of the Bank, the Hon'ble Bombay High Court has
stayed the order for a period of 6 (six) weeks.

 

Basis legal advice, the Bank is in the process of preferring an appeal before
the Hon'ble Supreme Court of India.

 

This is for your information and appropriate dissemination.

 

Thanking you,

 

Yours faithfully,

 

For YES BANK LIMITED

Shivanand R. Shettigar

Company Secretary

 

Encl: A/a

 

 http://www.rns-pdf.londonstockexchange.com/rns/4697N_1-2023-1-21.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/4697N_1-2023-1-21.pdf)

 

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