SC upholds ruling against Yes Bank’s ₹8,415 crore bond write-off

The Supreme Court has upheld a Bombay High Court ruling cancelling Yes Bank's decision to write off ₹8,415 crore worth of bonds, sending the lender's shares down 15%. The bank must repay bondholders the amount along with interest at the agreed rates of 9% and 9.5%. Yes Bank had cancelled these bonds in March 2020 as part of its bailout.