In a relief to Uday Kotak of Kotak Mahindra Bank, the Telangana High Court on Monday stayed all further proceedings pending before a trial court in Secunderabad.
The court took into cognisance a complaint filed by Bharat Kumar of Universal Packers and Movers alleging that Magma Fincorp and Kotak bank have cheated him.
After hearing the case, the judge stayed all further proceedings in the case before the trial court and adjourned the matter.