General Announcement::Disclosure - Effectiveness of the composite scheme of amalgamation

Issuer & Securities

Issuer/ Manager
HDFC BANK LIMITED
Securities
HDFCBANK INR23B 8.1%N250322 - XS1794215696 - 8NPB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
01-Jul-2023 01:10:19
Status
New
Announcement Sub Title
Disclosure - Effectiveness of the composite scheme of amalgamation
Announcement Reference
SG230701OTHR8S6J
Submitted By (Co./ Ind. Name)
Dhanjit Thaivalappil
Designation
Deputy Vice President
Description (Please provide a detailed description of the event in the box below)
This is in connection with our letter dated April 04, 2022 informing about the decision taken by the board of directors of HDFC Bank approving the Scheme under Sections 230 to 232 of the Companies Act, 2013 ( Companies Act ), and rules and regulations thereunder, subject to receipt of various statutory and regulatory approvals.

Vide our letter dated March 17, 2023, 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, 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 HDFC Limited 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 HDFC Bank 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, HDFC Limited 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 HDFC Limited, 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 HDFC Limited with and into HDFC Bank, will thus be Saturday July 1, 2023 (being the same as Effective Date).

We further wish to inform you that the board of directors of HDFC Bank in consultation with the board of directors of HDFC Limited has fixed the following as the Record Dates under the Scheme:

(i) Thursday, July 13, 2023, for determining the shareholders of HDFC Limited who shall be issued and allotted the shares of HDFC Bank;




(ii) Thursday, July 13, 2023, for continuation of warrants of HDFC Limited in the name of HDFC Bank;

(iii) Wednesday, July 12, 2023 for transfer of non-convertible debentures of HDFC Limited in the name of HDFC Bank; and

(iv) Friday, July 7, 2023 for transfer of commercial papers of HDFC Limited in the name of HDFC Bank.

We request you to bring the above to the notice of all concerned.

Attachments

SGXEffective date before INC28.pdf
Total size =738K