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NLCT approves HDFC merger with the HDFC Bank

Published on March 18, 2023
Current context: The national company law tribunal has approved the merger of the Housing development finance corporation with HDFC bank. The shares of each hdfc constituents rose by 1% each.
NLCT approves HDFC merger with the HDFC Bank
  • A joint company scheme had been filed with NLCT seeking the sanction of NLCT. The merger process will be completed by July.
  • HDFC announced its merger on 4th april, 2022
  • HDFC will become the 100% owned by public shareholders and the existing shareholders of HDFC will get 41% of the bank
  • HDFC closed at 1.14% on BSE stock exchange and gained 1.36% to close at 1572.55rs.

Question :

Q.1 National company law tribunal has approved the merger of the Housing development finance corporation with HDFC bank.
a. SBI
b. National company law tribunal
c. RBI
d. Government of India
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