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.