Yes Bank BGs totaling Rs 281.44 Crores Invoked by Department of Telecommunications
Yes Bank Limited is currently evaluating its course of action following the invocation of Bank Guarantees (BGs) by the Department of Telecommunications (DoT). The BGs, which were issued in favor of DoT, relate to deferred annual spectrum payment obligations.The outstanding Bank Guarantees aggregating to Rs 281.44 crores were issued in 2018 in favour of the DoT on behalf of a borrower who is currently undergoing a corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016. The borrower has been managed by the Resolution Professional since 2018.
The Bank's claim for the amount secured by these BGs has already been admitted in the ongoing insolvency proceedings.
The Department of Telecommunications invoked the BGs via a letter dated August 14, 2026. In light of the active insolvency proceedings involving the borrower, Yes Bank is currently reviewing the appropriate course of action in consultation with its legal advisors regarding this invocation.
YESBANK Stock Price Movement
On Friday, shares of Yes Bank Limited slipped by 1.35%, settling at ₹22.67 after trading down by ₹0.31 from the previous close. The stock saw heavy activity during the session, with a total traded volume reaching 38.94 million shares as it hit its daily low of ₹22.67.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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