TIDM60CX
RNS Number : 6329E
Housing Development Fin. Corp. Ltd.
30 June 2023
Ref. No.: SE/2023-24/131
June 30, 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 Sir/ Madam,
Sub: Disclosure under Regulations 30, 42 and 60 of the
Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015 ("Listing
Regulations")
Re: Effectiveness of the composite scheme of amalgamation
("Scheme") for the amalgamation of: (i) HDFC Investments Limited
("HDFC Investments"), and HDFC Holdings Limited ("HDFC Holdings"),
wholly owned subsidiaries of the Housing Development Finance
Corporation Limited ("Corporation"), with and into the Corporation;
and (ii) the Corporation, with and into HDFC Bank Limited ("HDFC
Bank")
This is in connection with our letter dated April 04, 2022
informing about the decision taken by the Board of Directors of the
Corporation approving the Scheme under Sections 230 to 232 of the
Companies Act, 2013, and rules and regulations thereunder, subject
to receipt of various statutory and regulatory approvals.
This is also in connection with our letter dated March 17, 2023,
whereby we informed that the National Company Law Tribunal, Mumbai
bench ("NCLT") vide its order of the same date, has sanctioned 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 . The NCLT,
thereafter vide its order dated April 20, 2023, approved extension
of filing of the said order with Registrar of Companies ("RoC") for
a period of 90 days with effect from April 27, 2023, so that
necessary pending approvals can be obtained by the Corporation and/
or HDFC Bank within the said period.
In this regard, we wish to inform you that since all the
required approvals have been obtained, the board of directors of
the Corporation at its meeting held today i.e., June 30, 2023, has
inter alia considered and noted/ approved the following:
(a) Receipt of the certified copy of the order of the NCLT
sanctioning the Scheme.
(b) Saturday, July 1, 2023, to be the 'Effective Date' of the
Scheme, on which date the certified order of the NCLT sanctioning
the Scheme will be filed by HDFC Investments, HDFC Holdings, the
Corporation and HDFC Bank with the RoC.
(c) Appointed Date 1 under the Scheme for the amalgamation of
HDFC Investments and HDFC Holdings with and into the Corporation,
will thus be end of Friday, June 30, 2023 (being end of the day
immediately preceding the Effective Date).
(d) Appointed Date 2 under the Scheme for the amalgamation of
the Corporation with and into HDFC Bank, will thus be Saturday July
1, 2023 (being the same as Effective Date).
(e) Vacation of office of all directors and key managerial
personnel of the Corporation immediately on filing of certified
order of the NCLT sanctioning the Scheme with the RoC.
We further wish to inform you that the board of directors of
HDFC Bank in consultation with the board of directors of the
Corporation has fixed the following as the Record Dates:
(i) Thursday, July 13, 2023, for determining the shareholders of
the Corporation who shall be issued and allotted the shares of HDFC
Bank;
(ii) Thursday, July 13, 2023, for continuation of warrants of
the Corporation in the name of HDFC Bank;
(iii) Wednesday, July 12, 2023 for transfer of non-convertible
debentures of the Corporation in the name of HDFC Bank; and
(iv) Friday, July 7, 2023 for transfer of commercial papers of
the Corporation in the name of HDFC Bank.
The board of directors of the Corporation collectively places
its gratitude to all key stakeholders of the Corporation - its
shareholders, borrowers, channel partners, depositors, deposit
agents, lenders and regulators for their unstinting support that
has contributed to the successful track record of the Corporation
over the years.
Thanking you,
Yours faithfully,
For Housing Development Finance Corporation Limited
Ajay Agarwal
Company Secretary
CC: London Stock Exchange
10, Paternoster Square, London, EC4M
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