Finance

Sebi examining Yes Bank's spat with UBS, says report

Updated : July 19, 2018 09:50 AM IST

Yes Bank approached the Swiss firm in June to drop coverage of the bank following a UBS research report on eight Indian banks that claimed that the private lender had the highest credit exposure to the troubled energy sector.

Securities and Exchange Board of India (SEBI) is examining a Yes Bank email asking UBS Group's Indian arm to drop a report on the lender for potential violation of securities legal guidelines, reported Mint quoting people familiar with the development.

The bank alleged that the report by the UBS is biased and unrealistic, the report said, adding that Yes Bank threatened the company with legal action unless the Swiss firm corrected the report according to data and a deadline chosen by the lender.

Yes Bank is also preparing to file a complaint against the Swiss firm with Sebi.

Sebi examining Yes Bank's spat with UBS, says report

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