General Announcement::Approval from Competition Commission of India in relation to the proposed composite scheme

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
13-Aug-2022 18:46:20
Status
New
Announcement Sub Title
Approval from Competition Commission of India in relation to the proposed composite scheme
Announcement Reference
SG220813OTHRTNTN
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 4, 2022, informing about the decision taken by the Board of Directors of HDFC Bank approving the proposed 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 and Reserve Bank of India and Securities and Exchange Board of India under various applicable regulations.
In this regard, please note that the CCI vide its letter dated August 12, 2022 has communicated that it in its meting held on August 12, 2022, considered the combination and approved the same under Section 31(1) of the Compeition Act, 2022, pursuant to the notice jointly filed by HDFC Limited, HDFC Bank, HDFC Holdings Limited and HDFC Investments Limited.

The Scheme remains subject to various statutory and regulatory approvals inter alia including approvals from the National Company Law Tribunal and the respective shareholders and creditors of the companies involved in the Scheme as may be required.
We request you to bring the above to the notice of all concerned.

Attachments

SGXApprovalCCI.pdf
Total size =176K