Yes Bank AT-1 bond case: SAT stays Sebi order of Rs 25-crore tremendous

The Securities Appellate Tribunal (SAT) has stayed the Rs 25-crore tremendous levied by the Securities and Exchange Board of India (Sebi) on Yes Bank Ltd, for alleged misselling of extra tier 1 (AT-1) bonds to buyers. The appellate tribunal has given Sebi 4 weeks to reply and can now hear the case on July 31.
The interim keep order by the SAT is topic to an enterprise by Yes Bank that if the case is set towards the financial institution, it might pay the penalty inside two weeks from the date of such an order.
In April, Sebi fined Yes Bank and two of its senior executives after its probe discovered that the personal financial institution facilitated promoting of AT-1 bonds from institutional buyers to particular person buyers. Sebi discovered that throughout the means of promoting the AT-1 bonds, particular person buyers weren’t knowledgeable about all of the dangers concerned in subscription of those bonds.