REG - Housing Dev Fin Corp - Result of AGM <Origin Href="QuoteRef">HDFC.NS</Origin>

Housing Development FinanceAnnouncement

26/07/2017 17:55

RNS Number : 2133M
Housing Development Fin. Corp. Ltd.
26 July 2017
Ref. No.: SE/2017-18/146
July 26, 2017
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 Regulations 30, 34 and 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations)
We wish to inform you that the 40th Annual General Meeting (AGM) of the Members of the Corporation was held today at 2.30 p.m. at Mumbai. The Members present at the AGM transacted the businesses mentioned in the Notice dated May 4, 2017.
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 said AGM;
2. Combined e-voting results in the prescribed format;
3. Report of combined e-voting results dated July 26, 2017 issued by Mr. N. L. Bhatia, Partner, Messrs N. L. Bhatia & Associates, Practicing Company Secretaries, Scrutinizer; and 
4. Annual Report for the financial year 2016-17.
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 40th Annual General Meeting of the Corporation:
The 40th Annual General Meeting (AGM) of the Members of the Corporation was held on Wednesday, July 26, 2017 at 2:30 p.m. at Birla Matushri Sabhagar, 19, New Marine Lines, Mumbai 400 020. The meeting was attended by 244 Members in person or by proxy. The requisite quorum being present, Mr. Deepak S. Parekh, Chairman of the Corporation called the meeting to order and welcomed the Members to the meeting. 
All the remaining directors including Dr. S. A. Dave, the Chairman of the Audit Committee and Stakeholders Relationship Committee, Mr. Bansi Mehta, Chairman of the Nomination and Remuneration Committee of the Corporation, representatives of the statutory and secretarial auditors attended the meeting.
Mr. Parekh informed that the requisite registers were open 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 for the financial year ended March 31, 2017 and also for the quarter ended June 30, 2017. Thereafter, he invited questions from the Members on the financials and the business listed to be transacted at the meeting.
After listening to all the queries, Mr. Parekh gave detailed response to the said queries and concluded his speech by placing on record his appreciation to all the stakeholders for having reposed their confidence in the Corporation and to the employees of the Corporation for their hard work and dedication. All the resolutions were then proposed and seconded. He also informed the Members that the Corporation has made arrangements for e-voting at the venue of the meeting.
The following items of business as set out in the Notice dated May 4, 2017 convening this meeting were transacted through remote e-voting and e-voting at the AGM venue:
Ordinary Business:
1(a). Adoption of the audited financial statement of the Corporation for the financial year ended March 31, 2017 together with the reports of the Board of Directors and auditors thereon.
1(b). Adoption of the audited consolidated financial statement for the financial year ended March 31, 2017 together with the report of the auditors thereon.
2. Declaration of final dividend on equity shares of the Corporation for the financial year ended March 31, 2017 and confirmation of payment of interim dividend during the said period.
3. Re-appointment of Ms. Renu Sud Karnad (DIN: 00008064) as a director of the Corporation, liable to retire by rotation. 
4. Re-appointment of Mr. V. Srinivasa Rangan (DIN: 00030248) as a director of the Corporation, liable to retire by rotation.
5. Appointment of Messrs B S R & Co. LLP, Chartered Accountants as the Statutory Auditor of the Corporation for a period of 5 (five) consecutive years and approval of their remuneration for the financial year 2017-18.
Special Business:
6. Approval for issuance of redeemable non-convertible debentures and/or other hybrid instruments on a private placement basis, up to an amount not exceeding ` 85,000 crore.
7. Approval of the related party transactions with HDFC Bank Limited.
8. Approval of revision in the salary range of the Managing Directors and Executive Director of the Corporation.
9. Adoption of new set of Articles of Association of the Corporation.
Based on the Scrutinizer's Report dated July 26, 2017 issued by Mr. N. L. Bhatia of Messrs N. L. Bhatia & Associates, practising company secretaries, all the aforementioned business were passed by the Members with requisite majority.
http://www.rns-pdf.londonstockexchange.com/rns/2133M_-2017-7-26.pdf
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