 "RBI")
The Bombay High Court on Tuesday deferred the Kotak Mahindra vs Reserve Bank of India (RBI) matter on reducing promoter stake to April 1.
After senior counsel Harish Salve, representing Kotak Mahindra Bank, said that the private lender is ready to issue an undertaking to limit its promoter voting rights to 20 per cent until May 2020 as concentration of power by the promoter is the main issue for the banking regulator, the court said the matter is not as simple as the petitioner is making it out to be, and posted the matter for further hearing to April 1.
The bank
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