Nippon Life India AMC gets regulatory nod to settle Yes Bank bond case

SENSEX 73,249.39

 -460.30

NIFTY 22,687.65

 -123.70

CRUDEOIL 9,445.00

+ 237.00

GOLD 144,600.00

 -1,479.00

SILVER 203,261.00

 -5,907.00

SENSEX 73,249.39

 -460.30

NIFTY 22,687.65

 -123.70

NIFTY 22,687.65

 -123.70

CRUDEOIL 9,445.00

+ 237.00

CRUDEOIL 9,445.00

+ 237.00

GOLD 144,600.00

 -1,479.00

'; } document.getElementById("lgdv").innerHTML = htmlElements; } function numberformat(i) { return Number(parseFloat(i).toFixed(2)).toLocaleString('en', { minimumFractionDigits: 2 }) } async function gatherResponse(response) { const { headers } = response; const contentType = headers.get('content-type') || ''; if (contentType.includes('application/json')) { return await response.json() } return response.text(); } function getWidth() { if (Math.max(document.body.scrollWidth,document.documentElement.scrollWidth,document.body.offsetWidth,document.documentElement.offsetWidth,document.documentElement.clientWidth) > 991) { document.getElementById("mob").style.display = "none"; document.getElementById("lgdv").style.display = "block"; } else { document.getElementById("mob").style.display = "block"; document.getElementById("lgdv").style.display = "none"; } } getWidth(); THIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS.THIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS.

Nippon Life AMC said any money recovered following the court ruling would go to investors in the relevant mutual fund schemes and would not affect the company’s financial results

By Reuters

Updated - October 22, 2026 at 04:53 PM. | BENGALURU

Nippon Life India Asset Management said on Thursday it has received in-principle approval from India’s markets regulator to settle a dispute over alleged fraudulent investments in Yes Bank additional tier-1 bonds after paying ₹96.76 crore ($10.2 million).

The asset manager, a unit of Japanese insurer Nippon Life Insurance, said it had paid the settlement charges during the September quarter, but was awaiting a formal settlement order.

India’s markets regulator had alleged that between 2016 and 2019 Reliance Mutual Fund, now known as Nippon Life India Mutual Fund, invested ₹2,150 crore in Yes Bank’s AT-1 bonds in return for industrialist Anil Ambani-backed companies receiving loans.

Anil Ambani, the younger brother of billionaire Mukesh Ambani, sold Reliance Mutual Fund to Nippon Life in October 2019.

Reliance Mutual Fund’s investment in AT-1 bonds became worthless after Yes Bank was declared insolvent in 2020.

Incidentally, earlier this month, India’s Supreme Court set aside Yes Bank’s write-off of ₹8,400 crore in AT-1 bonds, dealing a blow to the lender but providing relief to bondholders.

Nippon Life AMC said any money recovered following the court ruling would go to investors in the relevant mutual fund schemes and would not affect the company’s financial results.

The one-time settlement charge weighed on the asset manager’s September-quarter earnings, with net profit falling nearly 6 per cent to ₹324 crore.

Nippon Life AMC’s quarterly average assets under management rose 20 per cent to ₹7.87 lakh crore during the quarter, driven by continued inflows from domestic retail investors. Its operating profit rose 25 per cent to ₹523 crore.

Published on October 22, 2026

THIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS. THIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS. THIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS. THIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS.Sign into Unlock benefits!

• Access 10 free stories per month
• Get notified by email for early preview to new features, discounts & offers