General Announcement::Update on Regulatory Approvals

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
14-Nov-2022 21:20:26
Status
New
Announcement Sub Title
Update on Regulatory Approvals
Announcement Reference
SG221114OTHRXJ6P
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 Scheme under Sections 230 to 232 of the Companies Act, 2013 ( Companies Act ), 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, Reserve Bank of India, SEBI, PFRDA and Competition Commission of India.

In this connection, we wish to inform you that PFRDA vide its letter dated November 11, 2022 to HDFC Life, has granted its approval for proposed change in shareholding of HDFC Life, sponsor of HDFC Pension due to proposed amalgamation i.e. change in promoter from HDFC Limited to HDFC Bank, in terms of Regulation 12(j) of Pension Fund Regulatory and Development Authority (Pension Fund) Regulations, 2015 and subsequent amendement thereto subject to the conditions prescribed.

The Scheme remains subject to various statutory and regulatory approvals inter alia including approvals from the NCLT and the respective equity shareholders of the Bank and other companies involved in the Scheme as may be required.
We request you to bring the above to the notice of all concerned.

Attachments

SGX PFRDA approval12nov2022.pdf
Total size =568K