Housing Development Fin. Corp. Ltd. HDFC Bank Limited receives forbearances from RBI (0870X)

TIDM60CX

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_2-2023-4-21.pdf

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April 21, 2023 07:29 ET (11:29 GMT)