YES Bank said it had recovered 184 crore in debt following the sale of Bhushan Steel Limited to Tata Steel Limited under the recently-concluded NCLT (National Company Law Tribunal)/ Insolvency and Bankruptcy Code (IBC) proceedings.
YES Bank originally filed a claim for ₹325 crore in this instance.
Earlier, it recovered 32 crore through sale of pledged shares. Thus, it recovered in all ₹216 crore. Consequent to this recovery, YES Bank wrote back provisions to the tune of 36 crore.
`` With this recovery, the bank now has an exposure to only one account, aggregating to only ₹23.4 crores (with 50% provision) as on March 31, 2018, from borrowers referenced in the List 1 of the RBI IBC NCLT Process,'' YES Bank said in a filing with the BSE.
