The Bombay High Court on Monday refused to stay the Reserve Bank of India’s deadline of December 31 for dilution of promoter stake in Kotak Mahindra Bank. The RBI had ordered the bank to reduce its promoter shareholding to 20% of paid-up capital by December 31, 2018, and 15% by March 31, 2020.A division bench of Justice BP Dharmadhikari and Justice SV Kotwal said there was no need to pass...