A division bench of the Bombay high court hearing a dispute between Kotak Mahindra Bank and the Reserve Bank of India (RBI) has adjourned the matter to January 9, 2020, because of “paucity of time”.

The division bench was hearing a petition filed by the private sector lender challenging an RBI directive of August 13, 2018.

The contract research and manufacturing services (CRAMS) business is the bread earner for the company, and has grown strongly over the past three years (CAGR 9 % FY15-18). This business has established a new base with the help of increased number of projects in phase II and phase I coupled with commercial/ pre-commercial supplies from FY14 onwards. Our analysis highlights that company’s earnings have reached a sustainable base (three drugs commercialised over past three years) and will continue to improve on this base going ahead.

KIAL, an arm of Kotak Mahindra Bank, said in a statement that it has launched a new fund which will partner with Bengaluru-based realty firm DivyaSree Developers to develop and acquire commercial office assets. “The USD 400 million India Office Assets Fund I, is anchored by a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and is one of the largest dedicated commercial office development platforms announced in India,” it added.

Kotak Mahindra Bank has appointed KVS Manian and Gaurang Shah as whole-time directors for a three-year term effective from the date of approval from the Reserve Bank of India.

The appointment of Manian and Shah is also subject to share­holders’ approval, the bank informed the BSE.

The Bombay high court on Tuesday declined to give any interim relief to Kotak Mahindra Bank in its dispute with the Reserve Bank of India (RBI) over the latter’s direction to pare promoter's holding in the private sector lender.

The court turned down the bank's plea for an interim protection from regulatory action and posted the matter for further hearing to April 1.

Uday Kotak-led Kotak Mahindra Bank on Monday said that it has become the first private sector lender to join the platform — psbloansin59minutes.com — to offer loans of up to Rs 1 crore to micro, small & medium enterprises (MSME).

Kotak Mahindra Bank now joins the other public sector banks (PSBs) to offer loans to the small businesses that receive approval in less than 60 minutes.

Kotak Mahindra Bank (KMB) on Monday reported a 22.5% year-on-year (y-o-y) rise in its standalone net profit at Rs 1,291 crore for the third quarter of FY19. The profits were driven up by a good growth in the top line and also due to a write-back in provisions.

While provisions in Q3FY18 totalled `212.77 crore, in the December 2018 quarter there was a write-back of `32.3 crore.

Private lender Kotak Mahindra Bank reported 13.5 per cent rise in its third quarter (Q3) consolidated net profit on account of higher interest and fee income. The asset quality of the bank’s loan book also improved during the quarter.

Profit after tax at the consolidated level rose to Rs 1,844 crore for the quarter ended December 2018 (Q3FY19), from Rs 1,624 crore in the year-ago period (Q3FY18).

The Bombay High Court Monday refused to grant stay on the December 31 deadline to private sector lender Kotak Mahindra Bank for promoter stake dilution.

A division bench of justices B P Dharmadhikari and S V Kotwal directed the Reserve Bank of India (RBI) to file its affidavit by January 17, 2019, on a petition filed by the Kotak Mahindra Bank against the dilution directive.

Mumbai: Kotak Mahindra Bank shares fell over 3% on Monday after the Bombay high Court refused to grant stay on 31 December deadline given by the Reserve Bank of India for promoter stake dilution. The next hearing will be on 17 January, Bloomberg reported. In intraday, Kotak Mahindra Bank shares declined as much as 3.6% to hit a low of ₹1,209.30 apiece. The Kotak Bank stock closed at 1,223.90 per share, down 2.50% from its previous close, while the Sensex rose 0.85% to 36,270.07 points.

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