Bombay High Court asks Kotak Bank to file affidavit on perpetual share issuance

Name: Bombay High Court asks Kotak Bank to file affidavit on perpetual share issuance
Uploaded: 2019-04-01T12:07:23+00:00
Duration: 2 min 8 s
Channel: CNBC-TV18
Description: The Bombay High Court questioned Kotak Mahindra Bank why RBI should not act against the bank for not bringing promoter shareholding below 20 percent. The court also asked Kotak Bank to file an affidavit to defend its issuance of perpetual non-cumulative preference shares to dilute the promoter holding. This move was rejected by the RBI, reports Yash Jain.

CNBC-TV18

The Bombay High Court questioned Kotak Mahindra Bank why RBI should not act against the bank for not bringing promoter shareholding below 20 percent. The court also asked Kotak Bank to file an affidavit to defend its issuance of perpetual non-cumulative preference shares to dilute the promoter holding. This move was rejected by the RBI, reports Yash Jain.

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