REG - Housing Dev Fin Corp - NCLT Order sanctioning the scheme of Amalgamation

Housing Development FinanceAnnouncement

17/03/2023 13:15

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RNS Number : 4081T  Housing Development Fin. Corp. Ltd.  17 March 2023

Ref. No.: SE/2022-23/337

 

March 17, 2023

 

BSE
Limited
National Stock Exchange of India Limited

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

Dalal
Street
Bandra-Kurla Complex

Mumbai 400
001
Bandra (East), Mumbai 400 051

 

Kind Attn: Sr. General Manager                               Kind Attn: Head - Listing
DCS - Listing Department
 
Dear Sirs/Madam,

 

Sub:    Final Order dated March 17, 2023 ("Order") passed by the Hon'ble
National Company Law Tribunal, Mumbai Bench, Mumbai ("NCLT") for inter alia
sanctioning the 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 Limited ("HDFC Bank")

 

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 ("Companies Act"), 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 further refer to our letter dated December 8, 2022, vide which, we had
informed that a Joint Company Scheme Petition had been e-filed on December 7,
2022 with NCLT, in accordance with Sections 230-232 of the Companies Act, 2013
and rules thereunder by HDFC Investments Limited, HDFC Holdings Limited, HDFC
Limited and HDFC Bank, seeking the sanction of the NCLT for the Scheme.

 

We now wish to inform you that the  NCLT has, vide its Order of today i.e.
March 17, 2023, sanctioned the Scheme. The Order has been uploaded on the NCLT
website today and is available at

 

https://nclt.gov.in/gen_pdf.php?filepath=/Efile_Document/ncltdoc/casedoc/2709138130842022/04/Order-Challenge/04_order-Challange_004_167905390416146478746414545060f06.pdf
(https://nclt.gov.in/gen_pdf.php?filepath=/Efile_Document/ncltdoc/casedoc/2709138130842022/04/Order-Challenge/04_order-Challange_004_167905390416146478746414545060f06.pdf)

 

The Order as available on the NCLT website has also been uploaded on the
website of HDFC Limited. The certified copy of the Order is awaited.

 

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

 

Cc. London Stock Exchange

10, Paternoster Square, London, EC4M 7LS

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