Relief for Yes Bank in AT-1 bonds case; SAT imposes interim stay on SEBI penalty order

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In a temporary reprieve for Yes Bank in the AT-1 (additional tier-1) bonds case, the Securities Appellate Tribunal (SAT) has imposed an interim stay on an earlier Securities and Exchange Board of India (SEBI) order which had slapped a monetary penalty of Rs 25 crore on Yes Bank, and three of its executive–Rs One crore on Vivek Kanwar and Rs 50 lakh each on Ashish Nasa and Jasjit Singh Banga.

The market regulator had alleged misrepresentation and fraud by the bank for not informing investors of risk factors while facilitating the sale of the AT -1 bonds in the secondary market.

Yes Bank was quoting at Rs 13.82, up Rs 0.48, or 3.60 percent on the BSE.

News Source:- Moneycontrol

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