Bombay HC to hear Kotak’s plea on stake dilution in March

The Bombay High Court on Thursday adjourned the hearing of Kotak Mahindra Bank's petition against the Reserve Bank of India (RBI) over promoter stake reduction to March 12. The RBI has sought more time to file its reply to the bank's petition. The Uday Kotak-led bank was barred from reducing promoter holding to mandated level through a preference share sale.