Equity investors should take brunt in YES Bank: AMFI

Equity investors should take brunt in YES Bank: AMFI

The asset management companies have made representations to both Sebi and RBI regarding the same, lobby grouping Amfi's chief executive N S Venkatesh said.

AgenciesUpdated: Thursday, March 12, 2020, 08:28 AM IST
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N S Venkatesh |

Mumbai: Equity investors should be the first to take the brunt in case of Yes Bank's restructuring, followed by preference shareholders, and the additional tier-I bondholders should be the last to be touched, Amfi said.

The asset management companies have made representations to both Sebi and RBI regarding the same, lobby grouping Amfi's chief executive N S Venkatesh said.

In the restructuring package proposed last week, the RBI had suggested that over Rs 8,000 crore of investments by MFs and bank treasuries in the AT-1 bonds should be written-off completely, leading to the voices of concern being expressed by fund managers.

In other news, YES Bank has been made a party in petition against proposal to write-down bonds.

Axis Trustee Services has already filed a petition with the Bombay High Court against the RBI proposals.

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