Govt holds stake in Axis bank through Specified Undertaking of UTI (SUUTI). Shareholding was transferred to SUUTI (an investment vehicle) in 2003 when a scheme of the Unit Trust of India failed and was bailed out. At that time, SUUTI held investments in more than 40 companies, which it has been slowly exiting since then. … Read more
The controversy around the write-off of the additional tier-one bonds (AT-1) by Yes Bank Ltd during the March quarter has continued unabated. In fact, the rift between the bondholders and the lender has now widened. Axis Trustee Services Ltd, which represents several direct and indirect retail bondholders, has issued a notice to Yes Bank, alleging … Read more
Mystery around Yes Bank’s future fails to die down… Over last few months everyone including investors, analysts, consumers and competitors are equally confused as to the future of Yes Bank. Lender’s capital raising plan is also passing through uncertainties and there are speculations on whether Yes Bank is an acquisition target, which has been denied … Read more