https://www.taxtmi.com/news?id=31067 Challenge concerns the legality of the write-off of Additional Tier-1 (AT-1) bonds imposed during a bank reconstruction; the high court quashed the administrator's March 2020 decision for lack of authority and found the final reconstruction scheme did not provide for writing down AT-1 bonds. The Supreme Court has referred the appeals by the central bank and others to another bench, earlier stayed the high court order, and signalled possible use of extraordinary powers under Article 142 to address investor prejudice. en-us Wed, 22 Jan 2025 12:31:03 +0530 Wed, 22 Jan 2025 12:31:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=31067 Challenge concerns the legality of the write-off of Additional Tier-1 (AT-1) bonds imposed during a bank reconstruction; the high court quashed the administrator's March 2020 decision for lack of authority and found the final reconstruction scheme did not provide for writing down AT-1 bonds. The Supreme Court has referred the appeals by the central bank and others to another bench, earlier stayed the high court order, and signalled possible use of extraordinary powers under Article 142 to address investor prejudice. News - Wed, 22 Jan 2025 12:31:03 +0530 https://www.taxtmi.com/news?id=31067