General Announcement::Intimation under Regulation 30 of SEBI LODR Regulations, 2015

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
28-Dec-2023 14:31:11
Status
New
Announcement Sub Title
Intimation under Regulation 30 of SEBI LODR Regulations, 2015
Announcement Reference
SG231228OTHRNVNK
Submitted By (Co./ Ind. Name)
Dhanjit Thaivallapil
Designation
Deputy Vice President
Description (Please provide a detailed description of the event in the box below)
Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Securities and Exchange Board of India ( SEBI ) vide its email dated December 27, 2023 has considered the Settlement Application made by HDFC Bank Limited ( Bank ) dated August 18, 2023 in respect of a show cause notice dated June 19, 2023 received from SEBI on June 20, 2023 and the settlement has been recommended upon payment of Rs. 9,18,750 by the Bank to SEBI, within 30 calendar days.
The details as required to be provided as per sub-para 20 of Para A of Part A of Schedule III of SEBI LODR Regulations is as follows:

1. Name of the authority Securities and Exchange Board of India
2. Nature and details of the action(s) taken, initiated or order(s) passed The Bank had filed a settlement application dated August 18, 2023 ( Settlement Application ) in respect of a show cause notice dated June 19, 2023 received from SEBI on June 20, 2023 ( SCN ). SEBI s committees have considered the Bank s Settlement Application and the settlement has been recommended upon payment of INR 9,18,750 (Nine Lakh Eighteen Thousand Seven Hundred Fifty Rupees) by the Bank. Accordingly, SEBI has communicated to the Bank, vide its email dated December 27, 2023, that it has been agreed in principle to accept the terms of the settlement recommended by its committees, subject to Regulations 28 and 31 of the SEBI (Settlement Proceedings) Regulations, 2018 ( Settlement Regulations ). Accordingly, the Bank has been advised to comply with the non-monetary terms, if any, and pay INR 9,18,750 (Nine Lakh Eighteen Thousand Seven Hundred Fifty Rupees) to SEBI, within 30 calendar days (in terms of Regulation 14(3) of the Settlement Regulations).
3. Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority- December 27, 2023
4. Details of the violation(s)/contravention(s) committed or alleged to be committed;- The SCN issued to the Bank alleged that the Bank permitted a foreign portfolio investor to transact in the Indian securities market, despite being ineligible in terms of the SEBI (Foreign Portfolio Investors) Regulations, 2019 ( FPI Regulations ), thereby violating provisions of Regulation 4(f) of the FPI Regulations.
5. Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible Nil (Except to the extent of payment of the settlement amount of INR 9,18,750/-).

This is for your information and appropriate dissemination.

Attachments

Singapore.pdf
Total size =514K