AXIS TRUSTEE SERVICES LIMITED Vs. UNION OF INDIA

JUDGEMENT

(1.) Rule.

(2.) The substratum of the challenge is the communication dated March 14, 2020 under which the Administrator of the Yes Bank Ltd., informed the (Bombay Stock Exchange) BSE Limited and National Stock exchange the decision ( "impugned decision ") of the writing off of the Additional Tier 1 Debenture bonds.

(3.) The petitioner therein seeks that the impugned decision be set aside and quashed. It further seeks directions against the National Securities Depositories Limited and Central Depository Services to take such steps to reverse the effect of any accounting, entries, noting, write-offs, cancellations, or any such steps that may have been undertaken pursuant to the impugned decision to write off the Additional Tier 1 bonds.