Kotak Mahindra Bank which is run by Billionaire Uday Kotak who known for his contribution in improving corporate governance norms for India inc apart from his business ventures, has ruled out CEO’s son, Jay Kotak, as contender for next CEO of the Bank. 

Jay Kotak, son of founder Uday Kotak who has led the business since establishing it in 1985, is not a contender for the role, according to KVS Manian, the firm’s whole-time director. The billionaire will transition from his chief executive position by the end of next year, after central bank guidelines capped tenures for Indian business heads. 

The Board of Directors of the bank will finalize candidates for the top position within next five to six months. 

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