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Kotak counsel proposes reducing promoter stake to 20% by May 2020

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Seeking interim protection by Bombay High Court, counsel of Kotak Mahindra Bank on Tuesday proposed to reduce promoter holdings in the lender to 20 per cent by May 2020, according to a report by ET NOW. The court today adjourned the Kotak Mahindra Bank vs the Reserve Bank of India case to April 1, 2019.

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