India's Kotak Mahindra leads Nifty 50 losers after unit named in regulatory notice
** Shares of Kotak Mahindra Bank KTKM.NS down 3.5%, steepest intraday decline in a month
** Private lender top loser on benchmark Nifty 50 index .NSEI, which is trading flat
** U.S.-based short-seller Hindenburg Research says Mauritius-registered subsidiary of Kotak Mahindra Bank created and oversaw the offshore fund structure used by its investor partner to bet against Adani group
** Show-cause notice sent by Securities and Exchange Board of India (SEBI) to Hindenburg alleges Kotak Mahindra Bank unit violated code of conduct rules for foreign portfolio investors
** Kotak has not yet replied to a Reuters email for comment
** Shares of KTKM down 8.6% in 2024, underperforming Nifty Bank .NSEBANK which is up 8%; Nifty 50 up 11.1% this year - LSEG data
Reporting by Bharath Rajeswaran in Bengaluru
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