Mumbai, May 23, 2018: YES BANK has recovered an amount of INR 184 Crores, against an original claim filed for INR 325 Crores, pursuant to the sale of Bhushan Steel Limited to Tata Steel Limited under the recently concluded NCLT / Insolvency and Bankruptcy Code (IBC) proceedings.
The details of the recoveries are as follows
| Description | Amount (INR) |
| Recoveries from sale of Bhushan Steel to Tata Steel | 184 Crores |
| Earlier Recoveries through sale of pledged shares | 32 Crores |
| Total Recoveries (against claims of 325 Crores) | 216 Crores (66%) |
| Write Back of Provisions consequent to the above recoveries (against total provisions held in this account as on March 31,2018) | 36 Crores |
With this recovery, the Bank now has an exposure to only ONE account, aggregating to only INR 23.4 Crores (with 50% provision) as on March 31, 2018, from Borrowers referenced in the List 1 of the RBI IBC NCLT Process.