PFRDA approves HDFC Bank - HDFC merger

16 Jul 2022 , 11:50 AM

HDFC Bank has received the approval from the Pension Fund Regulatory and Development Authority (PFRDA) (vide its letter dated 07 July 2022 received by the Bank on 15 July 2022) in relation to the proposed composite scheme of amalgamation for the amalgamation of: (i) HDFC Investments and HDFC Holdings, wholly?]owned subsidiaries of Housing Development Finance Corporation (HDFC), with and into HDFC and (ii) HDFC with and into HDFC Bank. The Scheme remains subject to various statutory and regulatory approvals inter alia including approvals from the Competition Commission of India, the National Company Law Tribunal and the respective shareholders and creditors of the companies involved in the Scheme as may be required.Powered by Capital Market – Live News