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Financially troubled Yes Bank on Saturday reported a standalone net loss of ₹ 18,560.31 crore for the third quarter of the financial year 2019-20. This is amongst the biggest losses reported by the India Inc.

At present, the private lender is under a moratorium and is controlled by the office of the administrator appointed by the RBI.

The bank had reported a net profit of ₹1,001.85 crore during the corresponding period of the previous financial year.

Besides, the bank's total income fell to Rs 6,268.50 crore from Rs 8,849.81 crore earned during the October-December quarter of the previous fiscal.

On consolidated basis, Yes Bank reported a net loss of ₹18,564.24 crore for the December quarter from a net profit of Rs 1,000.57 crore in the corresponding period of the previous fiscal.

The independent auditor's review report on the consolidated results pointed out that there is a "material uncertainty related to going concern" of the bank.

"The said assumption of going concern is dependent upon the degree of success of the final reconstruction scheme, the quantum of capital infused into the bank and the bank's ability to stabalise its deposit balances post withdrawal of the moratorium by the RBI. Our conclusion is not modified in respect of this matter," the auditor said.

Furthermore, the bank recognised additional loans of ₹ 5,150.2 crore as NPAs and related provisioning requirements of ₹772.5 crore for the quarter ended December 31, 2019.

The bank has recognised an additional provisions of ₹15,422.0 crore in the quarter ended December 31, 2019.

Last week, the RBI placed Yes Bank under moratorium and capped the withdrawal limit at ₹50,000 till next Wednesday.

Additionally, the central bank also superseded Yes Bank's board of directors and appointed former SBI CFO Prashant Kumar as its administrator.

Meanwhile, Kumar has been appointed as the new Chief Executive Officer of the financially troubled lender. He will take over his new responsibilities once the moratorium on the stressed lender is lifted on Wednesday.

Apart from Kumar, Sunil Mehta, former non-executive Chairman of Punjab National Bank, will take over as the non-executive Chairman of Yes Bank.

Other board members include Mahesh Krishnamurthy and Atul Bheda, both as non-executive Directors.

Additionally, six private lenders have joined the SBI to rescue Yes Bank with Federal Bank committing ₹300 crore by subscribing to 30 crore shares of ₹2 each at a premium of ₹8 per equity share.

The six private lenders have now committed an investment of ₹3,700 crore in the cash-strapped private sector bank.

On Friday, ICICI Bank and Housing Development Finance Corporation (HDFC) Ltd had announced that they will be investing ₹1,000 crore each in Yes Bank's equity. Axis Bank and Kotak Mahindra Bank will be investing ₹ 600 crore and ₹500 crore, respectively, while Bandhan Bank will invest ₹300 crore.

The SBI board has already approved up to 49 per cent stake purchase in Yes Bank, as per the RBI's reconstruction scheme for the lender. It had said on Thursday that an investment of ₹7,250 crore would be made in Yes Bank to pick up₹ 725 crore equity shares.

Aligarh, Jan 14: Uttar Pradesh Minister Raghuraj Singh has courted a major controversy after he said that people who raise slogans against Prime Minster Narendra Modi and Uttar Pradesh Chief Minister Yogi Adityanath "would be buried alive".

The minister said this on Sunday while addressing a rally in Aligarh to muster support for the Citizenship Amendment Act (CAA) 2019.

"If you raise slogans against Prime Minister Narendra Modi or Chief Minister Yogi Adityanath, I will bury you alive," he threatened.

He was apparently referring to protests held by students of Aligarh Muslim University against the CAA during which they allegedly raised slogans against the Prime Minister and the chief minister.

The minister further said: "These one per cent people are opposing the CAA. They stay in India, eat up our taxes and then raise 'murdabad' slogans against the leaders. This country belongs to people of all faiths, but slogan shouting against the Prime Minister or chief minister is unacceptable."

He also launched an attack on India's first Prime Minister Jawaharlal Nehru. "What was Nehru's caste? He did not have a 'khaandan'," he claimed.

Raghuraj Singh is minister of state in the labour ministry in Uttar Pradesh.

New Delhi, Jun 22: The Delhi Police Monday urged the Delhi High Court to grant them a day’s more time for seeking instructions on a plea by Jamia student Safoora Zargar, who was pregnant and arrested under the anti-terror law --UAPA--, seeking bail in a case related to communal violence in northeast Delhi during protests against the Citizenship Amendment Act in February.

Justice Rajiv Shakdher, who conducted the hearing through video conferencing, allowed the request after Zargar’s counsel said she has no objection to it and listed the matter for Tuesday.

Zargar, M Phil student of Jamia Millia Islamia University, is more than four months pregnant.

During the hearing, Solicitor General Tushar Mehta, representing the Delhi Police, sought a day’s time to take instructions on the issue and said it will be in “larger interest” if he is given indulgence.

Additional Solicitor General (ASG) Aman Lekhi also joined Mehta and said they are ready with the arguments on merits of the case but they do not intend to proceed on merits at this stage.

Advocate Nitya Ramakrishnan, appearing for Zargar, said the woman is in a delicate state and is in a fairly advanced stage pregnancy and if the police need time to respond to the plea, she be granted interim bail for the time being.

The high court asked Solicitor General (SG) Tushar Mehta to come back with instructions on Tuesday.

The police has also filed a status report in response to the bail plea.

Jamia Coordination Committee member Zargar, who was arrested by the Special Cell of Delhi Police on April 10, has challenged in the high court the June 4 order of the trial court denying her bail in the case.

The hearing in the high court also witnessed exchange of words between Mehta, Lekhi on one side and Delhi government standing counsel (criminal) Rahul Mehra who objected the appearance of the two senior law officers on behalf of Delhi Police in the case.

Mehra contended that unlike another North East Delhi violence matter in which requisite approval was sought by the Delhi Police to be represented by a team of lawyers led by the Solicitor General, no such procedure was followed in this case.

"They know that my view in such cases will be more humanitarian and not as per their whims and fancies. I am not supposed to be the mouth piece of the Delhi Police, I am an officer of the court," he said.

Lekhi shot back "a client chooses the lawyer and a lawyer cannot impose himself on the client.

He said this controversy would deviate the court from the issue in hand and Mehra's objection can be kept aside in this case.

The high court concluded the hearing, asking the counsel for Delhi Police to sort out their battles by tomorrow.

 The trial court, in its order, had said “when you choose to play with embers, you cannot blame the wind to have carried the spark a bit too far and spread the fire.”

It had said that during the course of investigation a larger conspiracy was discernible and if there was prima facie evidence of conspiracy, acts and statements made by any one of the conspirators, it is admissible against all.

The trial court had said that even if there was no direct act of violence attributable to the accused (Zargar), she cannot shy away from her liability under the provisions of the Unlawful Activities (Prevention) Act (UAPA).

However, the trial court had asked the concerned jail superintendent to provide adequate medical aid and the assistance to Zargar.

The police had earlier claimed that Zargar allegedly blocked a road near Jaffrabad metro station during the anti-CAA protests and instigated people that led to the riots in the area.

It further claimed that she was allegedly part of the “premediated conspiracy” to incite communal riots in northeast Delhi in February.

Communal clashes had broken out in northeast Delhi on February 24 after violence between citizenship law supporters and protesters spiralled out of control leaving at least 53 people dead and scores injured.