Mumbai, 4/4: Housing Development Finance Corporation Limited (HDFC) will merge into HDFC Bank, according to the company’s filing with the Bombay Stock Exchange.
“We refer to our intimation made today i.e. on April 4, 2022, informing that the Board of Directors of Corporation at its meeting held today inter alia approved a composite scheme of amalgamation of: (i) HDFC Investments Limited and HDFC Holdings Limited, wholly-owned subsidiaries of the Corporation, with and into the Corporation and (ii) the Corporation with and into HDFC Bank Limited, and their respective shareholders and creditors, under Sections 230 to 232 of the Companies Act, 2013, the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 and other rules and regulations framed the reunder,” the filing read.
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