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

Updated : April 01, 2019 08:38:06 IST

The Bombay High Court has questioned Kotak Mahindra Bank as to why the RBI should not act against the bank for not bringing promoter shareholding below 20 percent. The court also asked the bank to file an affidavit to defend its issuance of perpetual non-cumulative preference shares to dilute the promoter holding. CNBC-TV18's Yash Jain gives the details.

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