REG - Housing Dev Fin Corp - HDFC Bank Limited receives forbearances from RBI

Housing Development FinanceAnnouncement

21/04/2023 12:30

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RNS Number : 0870X  Housing Development Fin. Corp. Ltd.  21 April 2023

Ref. No. SE/2023-24/25

 

April 21, 2023

 

BSE
Limited
National Stock Exchange of India Limited

P. J. Towers,
 
 
Exchange Plaza, Plot No. C/1,

Dalal
Street,
Bandra-Kurla Complex, Bandra (East),

Mumbai 400
001.
Mumbai 400 051.

 

Kind Attn: - Sr. General Manager
                                Kind Attn: Head
- Listing

                             DCS - Listing
Department

 

Dear Sirs,

 

Sub:     HDFC Bank Limited ("HDFC Bank") receives forbearances from Reserve
Bank of India ("RBI")

 

Ref:     Composite scheme of Amalgamation ("Scheme") for the amalgamation
of: (i) HDFC Investments Limited and HDFC Holdings Limited, wholly-owned
subsidiaries of Housing Development Finance Corporation Limited ("HDFC
Limited"), with and into HDFC Limited; and (ii) HDFC Limited with and into
HDFC Bank (together, "Proposed Amalgamation")

 

This is in connection with our letter dated April 4, 2022, informing about the
decision taken by the board of directors of HDFC Limited approving the Scheme
under Sections 230 to 232 of the Companies Act, 2013, the Companies
(Compromises, Arrangements and Amalgamations) Rules, 2016 and other rules and
regulations framed thereunder, subject to receipt of various statutory and
regulatory approvals.

 

We also refer to our earlier letters, wherein we had informed you about
receipt of no-objection/ approval letters including from stock exchanges, RBI,
SEBI, Competition Commission of India and Hon'ble National Company Law
Tribunal, Mumbai bench.

 

In this connection, we wish to inform you that HDFC Bank has received a letter
dated April 20, 2023 from RBI on certain forebearances sought by it, in
relation to the ongoing amalgamation of the HDFC Limited with and into HDFC
Bank. HDFC Bank, basis the same, has today made a disclosure to the stock
exchanges, a copy of the same is enclosed. Further, HDFC Bank would organise
an investor/analyst meet today i.e. April 21, 2023 at 4.30 p.m. in relation to
the said letter, details of which is enclosed.

 

The Proposed  Amalgamation is subject to receipt inter alia of final
approvals from SEBI in respect of change in control of certain subsidiaries of
HDFC Limited.

 

We request you to bring the above to the notice of all concerned.

 

Thank you,

 

Yours faithfully,

For Housing Development Finance Corporation Limited

 

 

Ajay Agarwal

Company Secretary

 

Encl. a/a

http://www.rns-pdf.londonstockexchange.com/rns/0870X_1-2023-4-21.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/0870X_1-2023-4-21.pdf)

http://www.rns-pdf.londonstockexchange.com/rns/0870X_2-2023-4-21.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/0870X_2-2023-4-21.pdf)

 

CC: London Stock Exchange

10, Paternoster Square, London, EC4M 7LS

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