REG - Housing Dev Fin Corp - Outcome of Annual General Meeting - July 30, 2020

Housing Development FinanceAnnouncement

30/07/2020 18:05

RNS Number : 6782U
  
Housing Development Fin. Corp. Ltd.
  
30 July 2020
  
 

Ref. No.: SE/2020-21/112
 
July 30, 2020
 
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,
 
Sub:    Intimation under Regulation 30 and 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations)
 
We wish to inform you that the 43rd Annual General Meeting (AGM) of the Members of the Corporation was held today at 2.30 p.m. via two-way Video Conference. The Members who participated at the AGM transacted the businesses mentioned in the Notice dated June 19, 2020.
 
In this connection and as required under the Listing Regulations and the applicable provisions of the Companies Act, 2013, we submit the following:
 
1.   Summary of the proceedings of the AGM;
2.   Combined e-voting results in the prescribed format; and
3.   Report on combined e-voting results dated July 30, 2020 issued by the Scrutinizer i.e. Mr. N. L. Bhatia, Managing Partner, Messrs N. L. Bhatia & Associates, Practicing Company Secretaries.
 
You are requested to kindly take the above documents on record.
 
Thank you.
 
Yours faithfully,
For Housing Development Finance Corporation Limited
 
 
Ajay Agarwal
Company Secretary
 
Encl. a/a
 
cc.        The London Stock Exchange
            10, Paternoster Square,
            London, EC4M 7LS.
 
 
Summary of the Proceedings of the 43rd Annual General Meeting of the Corporation
 
The 43rd Annual General Meeting (AGM) of the Members of the Corporation was held on Thursday, July 30, 2020 at 2:30 p.m. via two-way Video Conference (VC) in compliance with the General Circular Nos. 14/2020, 17/2020 and 20/2020 dated April 8, 2020, April 13, 2020 and May 5, 2020 respectively issued by the Ministry of Corporate Affairs (MCA Circulars) and applicable provisions of the Companies Act, 2013 and the Rules made thereunder.
 
178 Members being present through VC at 2.30 p.m., Mr. Deepak S. Parekh, Chairman of the Corporation commenced the AGM and welcomed the Members to the meeting. The Chairman confirmed that the Corporation had taken adequate steps and all efforts feasible, to enable Members to participate and vote on the items being considered at the AGM.
 
Mr. Parekh stated that all the directors of the Corporation were present at the AGM including

Mr. Jalaj Dani, Chairman of the Audit and Governance Committee and Dr. J.J. Irani, Chairman of the Stakeholders Relationship Committee and the Nomination and Remuneration Committee of the Corporation. Representatives of the statutory and secretarial auditors, who were also invited to participate in the proceedings of the Meeting, participated through VC. 
 
Mr. Parekh thereafter informed that the Corporation has enabled the Members to participate at the said AGM through the VC facility provided by National Securities Depository Limited (NSDL) and stated that the proceedings of the AGM could be viewed through the website of the Corporation via one way live webcast. 
 
Mr. Parekh informed that the requisite registers were available for inspection by the Members till the conclusion of the meeting. 
 
Mr. Parekh then commenced his speech and gave an overview of the operations and the financial performance of the Corporation during the financial year ended March 31, 2020 and also during the quarter ended June 30, 2020. He also provided an insight on the major developments during the financial year 2019-20 and the current year, including impact of the COVID-19 pandemic on the Corporation. Thereafter, he invited questions from the Members on the financials and the businesses listed in the Notice to be transacted at the AGM. 
 
After all the queries were raised, Mr. Parekh gave detailed responses to the said queries and concluded his speech by placing on record his profound gratitude to all the stakeholders for having reposed their confidence in the Corporation, to the employees of the Corporation for their hard work and dedication. Thereafter, he informed the Members who had not cast their vote through the remote e-voting, may cast their vote through the e-voting platform being provided by NSDL within next 30 minutes i.e. upto 5.00 p.m. The AGM accordingly was concluded at 5.00 p.m.
 
The following businesses as set out in the Notice dated June 19, 2020 convening this AGM were transacted through e-voting (remote e-voting and e-voting during the AGM):
 
Ordinary Business:
 
1(a). Adoption of the audited financial statements of the Corporation for the financial year ended March 31, 2020 together with the reports of the Board of Directors and Auditors thereon.
 
1(b). Adoption of the audited consolidated financial statements for the financial year ended March 31, 2020 together with the report of the Auditors thereon.
 
2.       Declaration of dividend on equity shares of the Corporation for the financial year ended March 31, 2020.
 
3.      Appointment of Ms. Renu Sud Karnad (DIN: 00008064) as a Director of the Corporation. 
 
Special Business:
 
4.      Re-appointment of Ms. Renu Sud Karnad (DIN: 00008064) as the Managing director of the Corporation.
 
5.      Re-appointment of Mr. V. Srinivasa Rangan (DIN: 00030248) as the Whole-time Director of the Corporation (designated as 'Executive Director').
 
6.      Approval of related party transactions with HDFC Bank Limited.
 
7.      Approval for issuance of redeemable non-convertible debentures and/or other hybrid instruments on private placement basis, up to an amount not exceeding `1,25,000 crore.
 
8.      Approval for sale of shares held in HDFC Life Insurance Company Limited, a material listed subsidiary of the Corporation, pursuant to the specific direction issued by the Reserve Bank of India.
 
9.      Approval for sale of shares held in HDFC ERGO General Insurance Company Limited, a material subsidiary of the Corporation, pursuant to the specific direction issued by the Reserve Bank of India.
 
Based on the Scrutinizer's Report dated July 30, 2020 issued by Mr. N. L. Bhatia of Messrs N. L. Bhatia & Associates, practising company secretaries, all the aforementioned businesses were passed by the Members with requisite majority.
 
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http://www.rns-pdf.londonstockexchange.com/rns/6782U_1-2020-7-30.pdf


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