Bombay High Court defers Kotak Mahindra Bank vs RBI matter to March 12

In the matter between Kotak Mahindra Bank and Reserve Bank of India (RBI) on dilution of shareholding held by promoter Uday Kotak, the division Bench of the Bombay High Court (HC) deferred the matter till March 12.

The counsel representing the RBI sought more time from the court to file the affidavit in reply to the writ petition filed by the private lender in the HC. The counsel from the bank’s side conceded to the request.

In the previous hearing, the court had not allowed interim relief for Kotak Mahindra Bank and observed that the RBI was a responsible regulator