Mumbai: The Bombay High Court Tuesday once again refused to give any interim relief to Kotak Mahindra BankNSE -0.03 % in its row with the RBI over a regulatory diktat to pare promoter's holding in the fourth largest private sector lender.
The court turned down the bank's plea for an interim protection from regulatory action saying 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.
When the petition came up ..
The bank had moved the court on December 10, 2018, challenging an RBI directive of August 13, 2018, which had directed it to dilute the promoter's shareholding from around 30 per cent to a maximum of 20 per cent of its paid-up voting equity capital by December 31, 2018 and to 15 per cent by March 31, 2020.
This is the second time that the bank failed to get any interim relief from the court. On the first day of the hearing on December 10, 2018, the bank had sought a stay on the December ..
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