 "Kotak buys out Old Mutual's 26% stake for Rs 1,293 cr in insurance arm")
The Bombay High Court on Monday refused to provide interim relief to Kotak Mahindra Bank in the matter of reducing its promoter holding to below 20 per cent by December 31.
A division Bench headed by Justice B P Dharmadhikari and Justice S V Kotwal directed the Reserve Bank of India (RBI) to file its affidavit by January 17. From the bank's side, senior counsel Darius Khambata requested the Bench to direct the central bank to not take any coercive action against Kotak Mahindra Bank till the pending hearing and final disposal of the writ petition. The RBI had
A division Bench headed by Justice B P Dharmadhikari and Justice S V Kotwal directed the Reserve Bank of India (RBI) to file its affidavit by January 17. From the bank's side, senior counsel Darius Khambata requested the Bench to direct the central bank to not take any coercive action against Kotak Mahindra Bank till the pending hearing and final disposal of the writ petition. The RBI had
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