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Uday Kotak tells Bombay High Court his bank meets ownership norms, says report

Updated : June 04, 2019 10:09 AM IST

In the affidavit, seen by The Economic Times, Kotak challenged the Reserve Bank of India's (RBI) directive asking the promoters to reduce their shareholding in the bank, the report said.
Kotak said the RBI never intimated the promoters on the issue of shareholding and that the owner's stake in Kotak was in line with the rules, as per the report. 
Uday Kotak tells Bombay High Court his bank meets ownership norms, says report
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