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Author: Advocate Manvita Malpekar
Introduction In a landmark regulatory move, the Securities and Exchange Board of India (SEBI) has rejected a settlement plea filed by industrialist Anil Ambani in connection with the controversial Yes Bank Additional Tier 1 (AT1) bond investments. This decision underscores SEBI’s increasing willingness to hold high-profile market participants accountable and signals a possible shift towards stricter enforcement in the Indian securities market. Background of the Yes Bank AT1 Bond Case Between 2016 and 2019, Reliance Mutual Fund — then part of the Reliance Anil Dhirubhai Ambani Group (ADAG) — invested approximately ₹21.5 billion in Yes Bank’s AT1 bonds. AT1 bonds…
