YES Bank Limited Disclosure under Reg.30ofIndian Listing Regulation (4697N)

TIDM16ER

RNS Number : 4697N

YES Bank Limited

21 January 2023

YBL/CS/2022-23/Int/027

January 21, 2023

 
 India International Exchange              The Singapore Exchange Securities 
  IFSC Limited                              Trading Limited 
  101 First Floor, Hiranandani Signature    2, Shenton Way #19-00 
  Tower,                                    SGX Centre 1, Singapore 068804 
  GIFT City IFSC - 382355, Gujarat, 
  India 
 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

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCBBGDBLGDDGXB

(END) Dow Jones Newswires

January 23, 2023 02:00 ET (07:00 GMT)