Axis Trusteeship Services Limited (ATSL) issues a notice to Yes Bank seeking the restoration or reactivation of the bank’s written-down Additional Tier 1 (AT1) bonds, following a Supreme Court judgment. ATSL asks the bank to reinstate the bonds in its books and in debenture-holder records in favour of the original bondholders or their legal successors. The notice is aimed at reversing the March 2020 write-off that was later ruled invalid by the Supreme Court.
Yes Bank acknowledges receiving the trustee’s communication and says it is examining the Supreme Court judgment and its implications. In one report, the trustee demands reinstatement within three days and warns that non-compliance could lead to contempt proceedings before the Supreme Court, while Yes Bank disputes claims of wilful disobedience and says its review of permissible steps is still ongoing. Another outlet highlights that the notice is also copied to multiple regulators and market infrastructure entities.
Across the coverage, outlets agree on the core sequence: the Supreme Court’s decision invalidating the AT1 write-off and ATSL’s subsequent demand for reinstatement. The main differences are the emphasis on deadlines, the threat of contempt proceedings, and which administrative and regulatory details are foregrounded.
