Scheme of Amalgamation as approved by RBI

HDFC BANK LIMITED

Regd. Off. : HDFC Bank House, Senapa! Bapa Ma"g, Lo#e" $a"e%, Mu&'a! ()) )*+
SCHED,LE A
SCHEME OF AMALGAMATION
OF
Centurion Bank of Punjab Limited Tranferor Bank
#!-
H!FC Bank Limited """ Tranferee Bank
T-!s S.-e&e of A&a%ga&a!on p"o/!des fo" -e a&a%ga&a!on of Cenu"!on Bank of $un0a' L!&!ed 1fo"&e"%2
kno#n as Cenu"!on Bank L!&!ed3, a .o&pan2 !n.o"po"aed unde" -e Co&pan!es A., *456 1-e"e!nafe"
"efe""ed o as -e 7Co&pan!es A.83 and a 'ank!ng .o&pan2 unde" -e p"o/!s!ons of -e Bank!ng Regu%a!on
A., *4(4 1-e"e!nafe" "efe""ed o as -e 7Bank!ng A.83, -a/!ng !s "eg!se"ed off!.e a S-ana Du"ga N!#as,
Ma-a&a 9and-! Road, $ana0! : ()+ ))*, 9oa 1-e"e!nafe" "efe""ed o as -e 7CBo$8 o" -e 7T"ansfe"o" Bank83
#!- HDFC Bank L!&!ed, a .o&pan2 !n.o"po"aed unde" -e Co&pan!es A. and a 'ank!ng .o&pan2 unde" -e
p"o/!s!ons of -e Bank!ng A., -a/!ng !s "eg!se"ed off!.e a HDFC Bank House, Senapa! Bapa Ma"g, Lo#e"
$a"e%, Mu&'a! ; ()) )*+ 1-e"e!nafe" "efe""ed o as 7HDFC Bank8 o" -e 7T"ansfe"ee Bank83, pu"suan o
Se.!on ((A and o-e" "e%e/an p"o/!s!ons of -e Bank!ng A.. T-e T"ansfe"o" Bank and -e T"ansfe"ee Bank
!nend -a pu"suan o -e .onso%!da!on o 'e effe.ed -"oug- -!s S.-e&e, a s"ong 'ank #!- good '"an.-
<ua%!2, and e&p-as!s on .o&&e".!a% and so.!a% 'ank!ng !n .o&p%!an.e #!- app%!.a'%e La# and po%!.2 of -e
RBI, s-a%% 'e ."eaed, and -e .onso%!daed 'ank s-a%% 'e an e&p%o2ee:f"!end%2 !ns!u!on -a #ou%d 'e a
p"efe""ed e&p%o2e" !n -e 'ank!ng se.o".
* DEFINITIONS
In -!s S.-e&e 1as def!ned -e"e!n 'e%o#3, un%ess !n.ons!sen #!- -e su'0e. o" .one=, -e fo%%o#!ng
e=p"ess!ons s-a%% -a/e -e fo%%o#!ng &ean!ng:
#"# $A%%ointed !ate& &eans Ap"!% *, >))? o" su.- o-e" dae as &a2 'e f!=ed o" san.!oned '2 Rese"/e
Bank of Ind!a@
#"' $Aet& s-a%% &ean and !n.%ude:
(a) all the assets and properties of CBoP including without limitation, assets, residential premises
and properties of all branches and offices of CBoP including but not limited to the extension
counters and automated teller machines (ATMs), whether situated in India or outside India
(b) without pre!udice to the generalit" of sub#clause (a) abo$e, it shall include all the properties
(whether mo$able or immo$able, tangible or intangible), assets, in$estments of all %inds
(including but not limited to shares, scrips, stoc%s, bonds, debentures, debenture stoc%s,
certificate of deposits, units or pass through certificates), all cash balances with the &BI and
other ban%s, mone" at call and short notice, loans, ad$ances, contingent rights or benefits,
deposits (made with an" authorit" or person whatsoe$er), lease and hire purchase contracts and
assets, securiti'ed assets, recei$ables, securit" receipts, benefit of assets or properties or other
Scheme of Amalgamation as approved by RBI
interest held in trust, benefit of an" securit" arrangements, authorities, allotments, appro$als,
re$ersions, buildings and structures, office and residential premises, tenancies, leases, licenses,
fixed assets and other assets, powers, consents, authorities, registrations, exemptions, benefits,
wai$ers, securit" and other agreements, contracts, engagements, arrangements of all %inds,
rights, titles, interests, benefits and ad$antages of whatsoe$er nature and where so e$er situate
belonging to, or in the ownership, power or possession of, or in the control of, or $ested in, or
granted in fa$our of, or held for the benefit of, or en!o"ed b" CBoP, or to which CBoP ma" be
entitled and include but without being limited to trade and ser$ice names and mar%s and other
intellectual propert" rights of an" nature whatsoe$er, permits, appro$als
(including appro$als from the &BI for branches and other offices), authori'ations, rights to use
and a$ail of telephones, telexes, facsimile, email, internet, leased line connections and
installations, utilities, electricit" and other ser$ices, reser$es, pro$isions, funds, benefits of all
agreements, all records, files, papers, computer programs, manuals, data, catalogues, sales and
ad$ertising materials, lists and other details of present and former customers and suppliers,
customers credit information, customer and supplier pricing information and other records in
connection with or relating to CBoP and all other interest of whatsoe$er nature belonging to or
in the ownership, power or possession and in the control of or $ested in or granted in fa$our of
or held for the benefit of or en!o"ed b" CBoP in India(
#"( $Bankin) A*t& &eans -e Bank!ng Regu%a!on A., *4(4 !n.%ud!ng -e gu!de%!nes fo"
&e"ge"A a&a%ga&a!on of p"!/ae 'anks !ssued '2 -e Rese"/e Bank of Ind!a daed Ma2 **, >))5 and
s-a%% !n.%ude an2 sauo"2 &od!f!.a!on, "e:ena.&en o" a&end&en -e"eof fo" -e !&e 'e!ng !n fo".e.
#"+ $Board of !ire*tor of CBoP& &eans -e Boa"d of D!"e.o"s of CBo$, an2 .o&&!ee1s3 .ons!ued o"
o 'e .ons!ued '2 -e Boa"d of D!"e.o"s of CBo$ o" an2 o-e" pe"son au-o"!Bed o" o 'e au-o"!Bed
'2 -e Boa"d of D!"e.o"s of CBo$ o" an2 .o&&!ee -e"eof no&!naed o" au-o"!Bed '2 -e Boa"d of
D!"e.o"s of CBO$ o e=e".!se an2 po#e"s !n.%ud!ng -e po#e"s !n e"&s of -!s S.-e&e.
#", $Board of !ire*tor of H!FC Bank& &eans -e Boa"d of D!"e.o"s of HDFC Bank, an2 .o&&!ee1s3
.ons!ued o" o 'e .ons!ued '2 -e Boa"d of D!"e.o"s of HDFC Bank o" an2 o-e" pe"son au-o"!Bed
o" o 'e au-o"!Bed '2 -e Boa"d of D!"e.o"s of HDFC Bank o" an2 .o&&!ee -e"eof no&!naed o"
au-o"!Bed '2 -e Boa"d of D!"e.o"s of HDFC Bank o e=e".!se an2 po#e"s !n.%ud!ng -e po#e"s !n
e"&s of -!s S.-e&e.
#"- $CBoP& &eans Cenu"!on Bank of $un0a' L!&!ed, a 'ank!ng .o&pan2 !n.o"po"aed unde" -e
Co&pan!es A. and %!.ensed '2 -e Rese"/e Bank of Ind!a unde" -e Bank!ng A. and -a/!ng !s
"eg!se"ed off!.e a S-ana Du"ga N!/as, Ma-a&a 9and-! Road, $ana0! : ()+ ))*, 9oa.
#". $Com%anie A*t& &eans -e Co&pan!es A., *456 and s-a%% !n.%ude an2 sauo"2 &od!f!.a!on, "e:
ena.&en o" a&end&en -e"eof fo" -e !&e 'e!ng !n fo".e.
#"/ $Cut0off !ate& s-a%% 'ea" -e &ean!ng as."!'ed o -e e"& !n C%ause *5 -e"eof@
#"1 $Effe*ti2e !ate& &eans -e dae on #-!.- -e S.-e&e !s san.!oned '2 Rese"/e Bank of Ind!a o" su.-
o-e" dae as &a2 'e spe.!f!ed '2 Rese"/e Bank of Ind!a '2 an o"de" !n #"!!ng passed !n -!s 'e-a%f.
#"#3 $Em%4o5ee8 &eans a%% -e e&p%o2ees of CBo$ !n se"/!.e as on -e Effe.!/e Dae.
#"## $H!FC Bank& &eans HDFC Bank L!&!ed, a 'ank!ng .o&pan2 !n.o"po"aed unde" -e Co&pan!es A.
and %!.ensed '2 -e Rese"/e Bank of Ind!a unde" -e Bank!ng A. and -a/!ng !s "eg!se"ed off!.e a
HDFC Bank House, Senapa! Bapa Ma"g, Lo#e" $a"e%, Mu&'a! ; ()) )*+.
#"#' 7H6 Inte)ration Committee8 &eans -e .o&&!ee o 'e .ons!ued !n e"&s of C%ause C.>.
Scheme of Amalgamation as approved by RBI
#"#( $Inte)ration Committee& &eans -e .o&&!ee o 'e .ons!ued !n e"&s of C%ause ?.+.
#"#+ $La7& &eans and !n.%udes a%% app%!.a'%e saues, ena.&ens, a.s of %eg!s%au"e o" pa"%!a&en,
o"d!nan.es, "u%es, '2e:%a#s, "egu%a!ons, no!f!.a!ons, gu!de%!nes, d!"e.!ons of "egu%ao"2 'od!es and
o"de"s of an2 sauo"2 au-o"!2, o" 0ud!.!a% au-o"!2 !n.%ud!ng an2 <uas!:0ud!.!a% au-o"!2, "!'una%,
.ou" o" su.- o-e" au-o"!2 of -e Repu'%!. of Ind!a.
#"#, $Le)a4 Pro*eedin)& s-a%% 'ea" -e &ean!ng as."!'ed o -e e"& !n C%ause 6 -e"eof.
#"#- 7Liabi4itie& &eans a%% de's, %!a'!%!!es, de&and depos!s, sa/!ng 'ank depos!s, e"& depos!s,
.e"!f!.ae of depos!s, !&e and de&and %!a'!%!!es, "upee and fo"e!gn .u""en.2 'o""o#!ngs,
'!%%s pa2a'%e, !ne"es a.."ued, sauo"2 "ese"/es, p"o/!s!ons and a%% o-e" %!a'!%!!es !n.%ud!ng a= and
.on!ngen %!a'!%!!es, du!es, unde"ak!ngs and o'%!ga!ons of CBo$ #-e-e" o" no d!spued o" -e
su'0e. &ae" of an2 .ou", a"'!"a!on o" o-e" p"o.eed!ngs.
#"#. $Li*ene& &eans an2 of -e %!.enses o .a""2 on 'ank!ng 'us!ness !n Ind!a !ssued '2 -e
Rese"/e Bank of Ind!a unde" Se.!on >>1*3 of -e Bank!ng A..
#"#/ 7Materia4 Ad2ere C8an)e& &eans an2 .-ange, effe., e/en, o..u""en.e o" sae of fa.s o" d!s.o/e"2
-e"eof #-!.- &a2 "esu% !n::
a3 -e L!.ense 'e!ng "e/oked o" suspended@
'3 e!-e" $a"2 'e!ng una'%e o .on!nue -e!" Bus!ness o" ope"a!ons o" a su'san!a% pa" -e"eof@
.3 an o"de" of an2 .ou", go/e"n&en, go/e"n&ena% au-o"!2, &!n!s"2, ad&!n!s"a!/e agen.2 o"
"!'una% of .o&peen 0u"!sd!.!on 'e!ng !ssued -e effe. of #-!.- #ou%d 'e o &ake -e Me"ge"
!%%ega% o" #-!.- o-e"#!se p"e/ens -e .onsu&&a!on of -e Me"ge"@ o"
d3 -e app"op"!a!on o" !ns!u!on of enfo".e&en p"o.eed!ngs aga!ns an2 of -e $a"!es su.- -a !
!s no feas!'%e o .onsu&&ae -e Me"ge" su'san!a%%2 on -e e"&s .one&p%aed '2 -!s
S.-e&e.
#"#1 $Member& &ean -e s-a"e-o%de"s of HDFC Bank o" CBo$, as -e .ase &a2 'e.
#"'3 $Mer)ed Entit5& &eans HDFC Bank !n #-!.- -e ,nde"ak!ng of -e Me"g!ng En!2 s-a%% sand /esed
and "ansfe""ed upon .onsu&&a!on of -e S.-e&e.
#"'# $Mer)in) Entit5& &eans CBo$.
#"'' $Ne7 E9uit5 S8are& s-a%% 'ea" -e &ean!ng as."!'ed o -e e"& !n C%ause 4.* -e"eof.
#"'( $Partie& &eans HDFC Bank and CBo$, .o%%e.!/e%2.
#"'+ 7Part58 &eans HDFC Bank o" CBo$, as -e .ase &a2 'e.
#"', 76BI8 &eans -e Rese"/e Bank of Ind!a.
#"'- $6e*ord !ate& &eans su.- dae o 'e f!=ed '2 -e Boa"d of D!"e.o"s of CBo$ o dee"&!ne -e
Me&'e"s of CBo$ o #-o& e<u!2 s-a"es of HDFC Bank #!%% 'e a%%oed and o ensu"e a%%o&en of
e<u!2 s-a"es of HDFC Bank !n a..o"dan.e #!- C%ause 4.* of -e S.-e&e.
#"'. $ S*8eme& &eans -!s s.-e&e of a&a%ga&a!on as app"o/ed and passed '2 -e Me&'e"s of HDFC
Bank and CBo$ !n -e!" "espe.!/e 9ene"a% Mee!ngs and s-a%% !n.%ude an2 &od!f!.a!ons o"
a&end&ens &ade !n a..o"dan.e -e"e#!- and !n e"&s of app%!.a'%e La#.
#"'/ $:ndertakin)& &eans -e en!"e 'us!nesses of CBo$ !n.%ud!ng #!-ou %!&!a!on a%% -e p"ope"!es
1#-e-e" &o/a'%e o" !&&o/a'%e, ang!'%e o" !nang!'%e3, a%% Asses, L!a'!%!!es, and Lega% $"o.eed!ngs
of and aga!ns CBo$ !n.%ud!ng asses and %!a'!%!!es of -e '"an.-es and off!.es of CBo$.
'" !ATE OF TA;ING EFFECT AN! OPE6ATI<E !ATE
Scheme of Amalgamation as approved by RBI
T-e S.-e&e as se ou -e"e!n !n !s p"esen fo"& s-a%% 'e effe.!/e f"o& -e Appo!ned Dae and s-a%% 'e
ope"a!/e f"o& -e Effe.!/e Dae.
(" SHA6E CAPITAL
("#" T-e s-a"e .ap!a% of CBo$ as on De.e&'e" +*, >))C !s as unde": 1Rupees !n %a.s3
Au-o"!sed Cap!a% >5))).))
$a!d:up Cap!a% *?C>4.64
("' T-e s-a"e .ap!a% of HDFC Bank as a De.e&'e" +*, >))C !s as unde": 1Rupees !n %a.s3
Au-o"!sed Cap!a% (5))).))
$a!d:up Cap!a% +5()C.5+
("( On and f"o& -e Effe.!/e Dae, -e au-o"!sed s-a"e .ap!a% of CBo$ s-a%% sand &e"ged !no -e
au-o"!sed s-a"e .ap!a% of HDFC Bank and s-a%% 'e.o&e a/a!%a'%e fo" !ssuan.e of fu"-e" e<u!2 s-a"es
'2 HDFC Bank, #-e-e" pu"suan o -!s S.-e&e of A&a%ga&a!on o" o-e"#!se.
+" T6ANSFE6 AN! <ESTING OF :N!E6TA;ING
+"# D!- effe. f"o& -e Appo!ned Dae and upon -e S.-e&e 'e.o&!ng effe.!/e, -e en!"e ,nde"ak!ng
of CBo$ !n.%ud!ng a%% !s Asses and L!a'!%!!es of #-asoe/e" nau"e s-a%%,
unde" -e p"o/!s!ons of Se.!on ((A of -e Bank!ng A. and pu"suan o -e o"de" of -e RBI san.!on!ng
-e S.-e&e, #!-ou an2 fu"-e" a. o" deed sand "ansfe""ed o andAo" dee&ed o 'e "ansfe""ed o and
/esed !n HDFC Bank.
+"' T"ansfe" of Asses
,pon .o&!ng !no effe. of -e S.-e&e and #!- effe. f"o& -e Appo!ned Dae and su'0e. o -e
p"o/!s!ons of -e S.-e&e:
1a3 a%% Asses of CBo$ s-a%% pu"suan o -e p"o/!s!ons of -e Bank!ng Regu%a!on A. e=.ep fo" -e
po"!ons spe.!f!ed !n C%ause (.>1.3 and (.>1d3 'e%o# of #-asoe/e" nau"e and #-e"esoe/e"
s!uaed and o#ned '2 CBo$ and !n.apa'%e of pass!ng '2 p-2s!.a% de%!/e"2 and !n.%ud!ng !n
pa"!.u%a" -e L!.ense and a%% o-e" %!.enses, pe"&!s, app"o/a%s, !n.en!/es, "!g-s, .%a!&s,
%eases, enan.2 "!g-s, su's!d!es, %!'e"!es, and o-e" 'enef!s o" p"!/!%eges en0o2ed o" .onfe""ed
upon o" -e%d o" a/a!%ed of '2 and a%% "!g-s and 'enef!s -a -a/e a.."ued o CBo$ s-a%%, unde"
-e p"o/!s!ons of -e Bank!ng A. and pu"suan o -e o"de" of -e RBI, #!-ou an2 fu"-e" a.,
!ns"u&en o" deed, 'u su'0e. o -e .-a"ges, %!ens, %!a'!%!!es o" "es"!.!ons affe.!ng -e sa&e
as on -e Effe.!/e Dae, 'e and s-a%% sand "ansfe""ed o and /es !n and 'e a/a!%a'%e o HDFC
Bank so as o 'e.o&e as and f"o& -e Appo!ned Dae -e esaes, asses, "!g-s, !%e, !ne"ess
and au-o"!!es of HDFC Bank and s-a%% "e&a!n /a%!d, effe.!/e and enfo".ea'%e on -e sa&e
e"&s and .ond!!ons o -e e=en pe"&!ss!'%e unde" La# #!-ou an2 fu"-e" a., !ns"u&en o"
deed, and 'e and sand "ansfe""ed o and /esed !n o" 'e dee&ed o -a/e 'een "ansfe""ed o and
/esed !n HDFC Bank as a go!ng .on.e"n.
1'3 HDFC Bank s-a%% .on!nue o -onou" -e "ade a""ange&ens, and -e .on"a.ua% o'%!ga!ons
-a CBo$ -as ene"ed !no and #-!.- e=!s as on -e Effe.!/e Dae.
Scheme of Amalgamation as approved by RBI
1.3 D!-ou p"e0ud!.e o su':C%ause 1a3 a'o/e, !n "espe. of su.- of -e asses of -e ,nde"ak!ng as
a"e &o/a'%e !n nau"e o" a"e o-e"#!se .apa'%e of "ansfe" '2 p-2s!.a% de%!/e"2 o" '2
endo"se&en andAo" de%!/e"2, -e sa&e &a2 'e so "ansfe""ed '2 CBo$, and s-a%%, upon su.-
"ansfe", 'e.o&e -e p"ope"2, esae, asses, "!g-s, !%e, !ne"es and au-o"!!es of HDFC Bank.
1d3 In "espe. of &o/ea'%e asses of CBo$ o-e" -an -ose spe.!f!ed !n su':C%ause (.>1.3 a'o/e,
!n.%ud!ng sund"2 de'o"s, a.!ona'%e .%a!&s, ousand!ng %oans, ad/an.es "e.o/e"a'%e !n .as- o"
!n k!nd o" fo" /a%ue o 'e "e.e!/ed and depos!s #!- 9o/e"n&en, se&!:go/e"n&en, %o.a% and
o-e" au-o"!!es and 'od!es -e fo%%o#!ng p"o.edu"e s-a%% 'e fo%%o#ed:
!. HDFC Bank s-a%% g!/e a no!.e '2 a pu'%!.a!on !n a #!de%2 .!".u%aed ne#spape" !n
Ind!a o !s .on"a. .oune" pa"!es, de'o"s o" depos!ees, as -e .ase &a2 'e, -a
pu"suan o -e o"de" of -e RBI -a/!ng san.!oned -e S.-e&e, -e sa!d de', %oan,
ad/an.es, e.., 'e pa!d o" &ade good o" -e%d on a..oun of HDFC Bank as -e pe"son
en!%ed -e"eo o -e end and !nen -a -e "!g- of CBo$ o "e.o/e" o" "ea%!se -e
sa&e sands e=!ngu!s-ed and -a app"op"!ae en"2 s-ou%d 'e passed !n -e!" "espe.!/e
'ooks o "e.o"d -e afo"esa!d .-ange.
!!. CBo$ o" !n an e/en of !na'!%!2 of CBo$, HDFC Bank s-a%% a%so g!/e no!.e '2 a
pu'%!.a!on !n a #!de%2 .!".u%aed ne#spape" !n Ind!a o !s .on"a. .oune" pa"!es,
de'o"s o" depos!ee, -a pu"suan o -e o"de" of -e RBI -a/!ng san.!oned -e S.-e&e
'e#een HDFC Bank and CBo$, -e sa!d pe"son, de'o", o" depos!ee s-ou%d pa2 o
HDFC Bank -e de', %oan o" ad/an.e o" &ake -e sa&e on a..oun of CBo$ and -e
"!g- of CBo$ o "e.o/e" o" "ea%!Be -e sa&e sands e=!ngu!s-ed and -a su.- "!g-
sands "ansfe""ed o HDFC Bank.
1e3 A%% -e pos daed and o-e" .-e<ues !ssued !n fa/ou" of CBo$ #-!.- a"e un:en.as-ed o"
ousand!ng upon -e .o&!ng !no effe. of -e S.-e&e s-a%% 'e en.as-ed '2
HDFC Bank on o" afe" -e due dae #-!.- s-a%% 'e en!%ed o -e p"o.eeds -e"eof, as !f su.-
pos daed .-e<ues -a/e 'een d"a#n and &ade !n fa/ou" of HDFC Bank.
1f3 Se.u"!2 o/e" an2 &o/ea'%e andAo" !&&o/ea'%e p"ope"!es and se.u"!2 !n an2 o-e" fo"& 1'o-
p"esen and fuu"e3, !f an2, ."eaed '2 an2 pe"son !n fa/ou" of CBo$
fo" se.u"!ng an2 o'%!ga!on of -e pe"son o CBo$ o" fo" and on #-ose 'e-a%f a gua"anee, %ee"
of ."ed!, %ee" of .o&fo" o" o-e" s!&!%a" !ns"u&en -as 'een e=e.ued o" a""ange&ens
ene"ed !no '2 CBo$ s-a%%, #!-ou an2 fu"-e" a., !ns"u&en o" deed sand /esed !n and 'e
dee&ed o 'e !ssued !n fa/ou" of HDFC Bank and -e 'enef! of su.- se.u"!2 s-a%% 'e a/a!%a'%e
o HDFC Bank as !f su.- se.u"!2 #as a' !n!!o ."eaed !n fa/ou" of HDFC Bank.
+"( T"ansfe" of L!a'!%!!es
1a3 D!- effe. f"o& -e Appo!ned Dae and upon -e S.-e&e 'e.o&!ng effe.!/e, a%% -e
L!a'!%!!es of CBo$ s-a%% #!-ou fu"-e" a., !ns"u&en o" deed a%so 'e and sand "ansfe""ed o"
dee&ed o 'e "ansfe""ed o HDFC Bank, so as o 'e.o&e -e de's, %!a'!%!!es, du!es,
unde"ak!ngs and o'%!ga!ons of HDFC Bank and fu"-e" -a ! s-a%% no 'e ne.essa"2 o o'a!n
-e .onsen of an2 -!"d pa"2 o" o-e" pe"son #-o !s a pa"2 o an2 .on"a. o" a""ange&en '2
/!"ue of #-!.- su.- de's, %!a'!%!!es, du!es and o'%!ga!ons -a/e a"!sen !n o"de" o g!/e effe. o
-e p"o/!s!ons of -e S.-e&e.
Scheme of Amalgamation as approved by RBI
1'3 D!- effe. f"o& -e Appo!ned Dae and upon -e S.-e&e 'e.o&!ng effe.!/e, an2 pos daed
.-e<ues, de'enu"es, 'onds, noes o" o-e" de' se.u"!!es, !f an2, #-e-e" .on/e"!'%e !no
e<u!2, o" o-e"#!se 1-e"e!nafe" .o%%e.!/e%2 "efe""ed o as -e 7T"ansfe"o"Es Se.u"!!es83, !ssued
'2 CBo$, #-!.- "e&a!n un:en.as-ed o" ousand!ng o" #-!.- -a/e no &au"ed on -e s.-e&e
.o&!ng !no effe. s-a%%, #!-ou fu"-e" a., !ns"u&en o" deed 'e.o&e se.u"!!es of HDFC
Bank and a%% "!g-s, po#e"s, du!es and o'%!ga!ons !n "e%a!on -e"eo s-a%% 'e "ansfe""ed o and
/es !n and s-a%% upon .o&!ng !no effe. of -e S.-e&e, 'e e=e".!sed '2 o" aga!ns HDFC Bank
as !f ! #e"e CBo$, !n a..o"dan.e #!- -e e"&s of -!s S.-e&e. In -e e/en of a defau% !n
"e%a!on o -e afo"esa!d o'%!ga!on, HDFC Bank s-a%% !nde&n!f2 and keep !nde&n!f!ed -e
off!.e"s and d!"e.o"s of CBo$ as on -e Effe.!/e Dae f"o& and aga!ns an2 %!a'!%!!es -a &a2
a"!se due o su.- defau% !n "espe. of -e T"ansfe"o"Es Se.u"!!es and !n "e%a!on o an2 'ona f!de
a.!on on -e pa" of su.- off!.e"s and d!"e.o"s !n -e o"d!na"2 .ou"se of 'us!ness, and !n
.onsonan.e #!- -!s S.-e&e.
1.3 D!- effe. f"o& -e Appo!ned Dae and upon -e S.-e&e 'e.o&!ng effe.!/e,
an2 %oans o" o-e" o'%!ga!on 1!n.%ud!ng an2 gua"anees, %ee" of ."ed!, %ee"s of .o&fo" o" an2
o-e" !ns"u&en o" a""ange&en #-!.- &a2 g!/e "!se o a .on!ngen %!a'!%!2 !n #-ae/e" fo"&3,
due 'e#een o" a&ongs CBo$ and HDFC Bank, !f an2, s-a%% sand d!s.-a"ged and -e"e s-a%% 'e
no %!a'!%!2 !n -a 'e-a%f on e!-e" pa"2.
1d3 T-e "ansfe" and /es!ng of L!a'!%!!es, as afo"esa!d, s-a%% 'e su'0e. o su's!s!ng .-a"ges, !f an2,
!n "espe. of an2 Asses. $"o/!ded a%#a2s -a -e S.-e&e s-a%% no ope"ae o en%a"ge -e
se.u"!2 fo" an2 %oan, depos! o" fa.!%!2 a/a!%ed '2 HDFC Bank and CBo$ and -a HDFC Bank
s-a%% no 'e o'%!ged o ."eae an2 fu"-e" o" add!!ona% se.u"!2 -e"efo" afe" -e Effe.!/e Dae
o" o-e"#!se. Fu"-e", -e S.-e&e s-a%% no ope"ae o en%a"ge -e se.u"!2 fo" an2 %oan, depos!
o" fa.!%!2 a/a!%ed '2 HDFC Bank, o" as -e .ase &a2 'e, '2 CBo$.
," CONT6ACTS= !EE!S= ETC
,"# D!- effe. f"o& -e Appo!ned Dae and upon -e S.-e&e 'e.o&!ng effe.!/e and su'0e. o app%!.a'%e
La# and -e p"o/!s!ons -e"eof a%% .on"a.s, deeds, enan.!es, %eases, %!.enses o" o-e" assu"an.es,
ag"ee&ens, a""ange&ens and o-e" !ns"u&ens of #-asoe/e" nau"e 1!n.%ud!ng an2 do.u&en '2
/!"ue of #-!.- se.u"!2 !s ."eaed !n fa/ou" of CBo$3 o #-!.- CBo$ !s a pa"2 o" o -e 'enef! of
#-!.- CBo$ &a2 'e e%!g!'%e and #-!.- a"e su's!s!ng o" -a/!ng effe. !&&ed!ae%2 'efo"e -e Effe.!/e
Dae, s-a%% 'e !n fu%% fo".e and effe. aga!ns o" !n fa/ou" of HDFC Bank as -e .ase &a2 'e and a%% o"
an2 of -e "!g-s, p"!/!%eges, o'%!ga!ons and %!a'!%!!es of CBo$ s-a%% 'e "ansfe""ed o and /es !n HDFC
Bank and &a2 'e enfo".ed as fu%%2 and effe.ua%%2 as !f, !nsead of CBo$, HDFC Bank -ad 'een a pa"2,
'enef!.!a"2 o" o'%!go" -e"eo.
,"' HDFC Bank s-a%%, #-e"e/e" ne.essa"2, ene" !no andAo" !ssue andAo" e=e.ue deeds, #"!!ngs o"
.onf!"&a!ons o" ene" !no "!pa"!e a""ange&ens, .onf!"&a!ons o" no/a!ons o #-!.- CBo$ #!%%, !f
ne.essa"2, a%so 'e a pa"2 !n o"de" o g!/e fo"&a% effe. o -e p"o/!s!ons of -e S.-e&e, on o" p"!o" o
-e Effe.!/e Dae. HDFC Bank s-a%%, unde" -e p"o/!s!ons of -e S.-e&e, 'e dee&ed o 'e au-o"!Bed
o e=e.ue an2 su.- #"!!ngs on 'e-a%f of CBo$ and o !&p%e&en o" .a""2 ou a%% su.- fo"&a%!!es o"
Scheme of Amalgamation as approved by RBI
.o&p%!an.es "efe""ed o -e"e!na'o/e on pa" of CBo$ o 'e .a""!ed ou o" pe"fo"&ed afe" -e Effe.!/e
Dae.
-" LEGAL P6OCEE!INGS
D!- effe. f"o& -e Appo!ned Dae and upon -e S.-e&e 'e.o&!ng effe.!/e, a%% su!s, a.!ons and
%ega% p"o.eed!ngs of #-asoe/e" nau"e '2 o" aga!ns CBo$ pend!ng andAo" a"!s!ng on o" 'efo"e -e
Effe.!/e Dae 17Lega% $"o.eed!ngs83 s-a%% 'e .on!nued and 'e enfo".ed '2 o" aga!ns HDFC Bank as
effe.ua%%2 as !f -e sa&e -ad 'een f!%ed '2, pend!ng andAo" a"!s!ng aga!ns HDFC Bank. On and f"o&
Effe.!/e Dae, HDFC Bank s-a%%, !f "e<u!"ed, !n!!ae o" defend an2 %ega% p"o.eed!ngs !n "e%a!on o
CBo$.
." EMPLO>EES
."# A%% -e E&p%o2ees of CBo$ !n se"/!.e on -e Effe.!/e Dae !n.%ud!ng -e Manag!ng D!"e.o" s-a%%
'e.o&e -e e&p%o2ees of HDFC Bank on su.- dae #!-ou an2 '"eak o" !ne""up!on !n se"/!.e, on
e"&s and .ond!!ons #-!.- a"e no %ess fa/ou"a'%e o -e E&p%o2ees of CBo$
-an -ose on #-!.- -e2 a"e e&p%o2ed #!- CBo$ as on -e dae !&&ed!ae%2 p"e.ed!ng -e
Effe.!/e Dae.
."' T-e E&p%o2ees of CBo$, on 'e.o&!ng e&p%o2ees of HDFC Bank, s-a%% -a/e -e sa&e sand!ng as -e
.on!nu!ng e&p%o2ees of HDFC Bank. To fa.!%!ae eff!.!en and e<u!a'%e !neg"a!on of -e e=!s!ng
e&p%o2ees of HDFC Bank and CBo$ e&p%o2ees, a HR Ineg"a!on Co&&!ee #!%% 'e .ons!ued '2 -e
Boa"d of HDFC Bank !n.%ud!ng "ep"esena!on f"o& -e .u""en sen!o" &anage&en of CBo$ and HDFC
Bank.
."( I !s e=p"ess%2 p"o/!ded -a, -e p"o/!den fund, supe"annua!on fund o" an2 o-e" spe.!a% s.-e&e1s3,
fund1s3 ."eaed o" e=!s!ng fo" -e 'enef! of -e e&p%o2ees of CBo$, on and f"o& -e Effe.!/e Dae,
s-a%% sand "ansfe""ed o HDFC Bank and HDFC Bank s-a%% sand su's!ued fo" CBo$ fo" a%% pu"poses
#-asoe/e" "e%a!ng o -e ad&!n!s"a!on o" ope"a!on of su.- s.-e&es o" funds o" !n "e%a!on o
o'%!ga!ons o &ake .on"!'u!ons o -e sa!d s.-e&es o" funds !n a..o"dan.e #!- -e p"o/!s!ons of su.-
s.-e&es o" funds as pe" -e e"&s p"o/!ded !n -e "espe.!/e "us deeds o" o-e" do.u&ens o -e end
and !nen -a a%% "!g-s, du!es, po#e"s and o'%!ga!ons of CBo$ !n "e%a!on o su.- funds o" s.-e&es
s-a%% 'e.o&e -ose of HDFC Bank. I !s .%a"!f!ed -a -e se"/!.e of -e E&p%o2ees of CBo$ #!%% 'e
"eaed as -a/!ng 'een .on!nued fo" -e pu"pose of -e afo"esa!d funds o" s.-e&es o" p"o/!s!ons.
/" CON!:CT OF B:SINESS
/"# ,pon -e S.-e&e 'e.o&!ng effe.!/e, f"o& -e Appo!ned Dae, and un!% and !n.%ud!ng -e Effe.!/e
Dae:
1a3 CBo$ s-a%% 'e dee&ed o -a/e .a""!ed on a%% !s 'us!ness and a.!/!!es and s-a%% 'e dee&ed o
-a/e -e%d and 'een !n possess!on of and s-a%% -o%d and 'e !n possess!on of a%% -e Asses fo" and
on a..oun of and !n "us fo" HDFC Bank@ and
1'3 a%% p"of!s and !n.o&es a.."u!ng o" a"!s!ng o CBo$ o" e=pend!u"e o" %osses a"!s!ng o" !n.u""ed
1!n.%ud!ng -e effe. of a=es, !f an2, -e"eon3 '2 CBo$ s-a%%, fo" a%% pu"poses, 'e "eaed and
Scheme of Amalgamation as approved by RBI
dee&ed o 'e and a.."ue as -e p"of!s o" !n.o&es o" e=pend!u"e o" %osses o" a=es, as -e .ase
&a2 'e, of HDFC Bank.
1.3 T-e p"oe.!on, !f an2, a/a!%a'%e o d!"e.o"s of CBo$ s-a%% .on!nue o 'e -onou"ed '2 HDFC
Bank !n "e%a!on o a%% a= %!a'!%!!es of CBo$.
/"' HDFC Bank and CBo$ s-a%% 'e en!%ed, pend!ng san.!on of -e S.-e&e, o app%2 o an2 go/e"n&ena%
o" "egu%ao"2 au-o"!2 and o-e" agen.!es as a"e ne.essa"2 unde" La# fo" su.- .onsens, app"o/a%s and
san.!ons #-!.- HDFC Bank &a2 "e<u!"e o o#n and .a""2 on -e 'us!ness of CBo$.
/"( T-e $a"!es ag"ee o .ons!ue an !neg"a!on .o&&!ee .ons!s!ng of an e<ua% nu&'e" of e&p%o2ees
f"o& ea.- $a"2 17Ineg"a!on Co&&!ee83 o 1a3 !&p%e&en o" a. !n fu"-e"an.e of -e p"o/!s!ons of
-!s S.-e&e@ and 1'3 s."u!n!Be un!% -e Effe.!/e Dae -e p"oposa%s fo" p%a.e&en 'efo"e -e
app"op"!ae san.!on!ng au-o"!!es of -e "espe.!/e $a"!es fo" de.!s!on !n.%ud!ng a "e/!e# of -e
e=!s!ng a""ange&ens fo%%o#ed '2 -e $a"!es fo" sou".!ng and ."ed! po%!.2, unde"#"!!ng and
.o%%e.!on.
/"+ T-e Ineg"a!on Co&&!ee &a2 appo!n su':.o&&!ees #!- -e .onsen of -e $a"!es and de%egae o
su.- su':.o&&!ees su.- of !s po#e"s as ! dee&s f!. Sa/e as .one&p%aed !n -!s S.-e&e of
A""ange&en, no p"oposa% s-a%% 'e aken o -e "espe.!/e Boa"ds '2 e!-e" $a"2 un%ess -e sa&e !s !n
.o&p%!an.e #!- C%ause ?.> of -!s S.-e&e. No de.!s!on of -e Ineg"a!on Co&&!ee s-a%% 'e /a%!d
un%ess aken unan!&ous%2. I !s .%a"!f!ed fo" -e a/o!dan.e of dou' -a -e Ineg"a!on Co&&!ee s-a%%
no -a/e po#e"s o a&end -!s S.-e&e.
/", T-e Ineg"a!on Co&&!ee and ea.- su':.o&&!ee s-a%% .o&p"!se a %eas one e&p%o2ee f"o& ea.-
$a"2.
1" CONSI!E6ATION
1"# ,pon .o&!ng !no effe. of -e S.-e&e and !n .ons!de"a!on of -e "ansfe" of and /es!ng of -e
,nde"ak!ng of CBo$ o HDFC Bank !n e"&s of -e S.-e&e, HDFC Bank s-a%% su'0e. o -e
p"o/!s!ons of -e S.-e&e and #!-ou an2 fu"-e" app%!.a!on, a. o" deed, !ssue and a%%o, a -e ea"%!es
!n a..o"dan.e #!- So.k E=.-ange L!s!ng Regu%a!ons, One e<u!2 s-a"e of HDFC Bank of -e fa.e
/a%ue of Rs. *)A: ea.- ."ed!ed as fu%%2 pa!d:up !n -e .ap!a% of HDFC Bank #-!.- "ank pa"! passu f"o&
-e dae of a%%o&en #!- -e e=!s!ng s-a"es of HDFC Bank o -ose Me&'e"s of CBo$ #-ose na&es
a"e "e.o"ded !n !s Reg!se" of &e&'e"s 1-e 7sa!d Me&'e"s83 on -e Re.o"d Dae fo" e/e"2 >4 e<u!2
s-a"es of -e fa.e /a%ue of Re. *A: ea.- -e%d '2 -e sa!d Me&'e"s of CBo$ 1"efe""ed o as 7Ne# E<u!2
S-a"es83. All entitlements to equity shares of CBo$ a"!s!ng ou of ousand!ng .on/e"!'%e
!ns"u&ens su.- as #a""ans and so.k op!ons g"aned p"!o" o De.e&'e" +*, >))C s-a%% sand &od!f!ed
o en!%e&ens o Ne# E<u!2 S-a"es !n -e sa&e p"opo"!on !.e. -e en!%e&en fo" e/e"2 >4 e<u!2
s-a"es of Re. *A: ea.- !n CBo$, s-a%% sand "ep%a.ed '2 an en!%e&en o one e<u!2 s-a"e of a fa.e /a%ue
of Rs. *)A: ea.- !n HDFC Bank #!- -e p"!.e fo" su.- .on/e"s!on sand!ng ad0used !n -e sa&e
p"opo"!on as -e s-a"e s#ap "a!o. A%% app%!.a'%e f"!nge 'enef! a= s-a%% 'e 'o"ne '2 and pa!d '2 -e
"espe.!/e e&p%o2ees. An2 -o%d!ng of s-a"es o" de' '2 e!-e" 'ank !n -e o-e" 'ank s-a%% sand
.an.e%%ed.
Scheme of Amalgamation as approved by RBI
1"' Ne# E<u!2 S-a"es !ssued !n e"&s of -e S.-e&e s-a%%, !n .o&p%!an.e #!- app%!.a'%e "egu%a!ons, 'e
%!sed andAo" ad&!ed o "ad!ng on -e "e%e/an so.k e=.-ange1s3 !n Ind!a #-e"e -e e<u!2 s-a"es of
HDFC Bank a"e %!sed andAo" ad&!ed o "ad!ng.
1"( ,pon -e Ne# E<u!2 S-a"es 'e!ng !ssued and a%%oed o -e s-a"e-o%de"s of CBo$, -e s-a"es -e%d '2
-e sa!d Me&'e"s of CBo$, #-e-e" !n -e p-2s!.a% fo"& o" !n -e de&ae"!a%!Bed fo"&, s-a%% 'e dee&ed
o -a/e 'een auo&a!.a%%2 .an.e%%ed and 'e of no effe., #!-ou an2 fu"-e" a., deed o" !ns"u&en.
1"+ In so fa" as Ne# E<u!2 S-a"es a"e .on.e"ned, -e sa&e #!%% 'e d!s"!'ued !n de&ae"!a%!Bed fo"& o -e
e<u!2 s-a"e-o%de"s of CBo$, p"o/!ded a%% dea!%s "e%a!ng o -e a..oun #!- -e Depos!o"2 $a"!.!pan
a"e a/a!%a'%e o HDFC Bank. A%% -ose e<u!2 s-a"e-o%de"s #-o -o%d e<u!2 s-a"es of CBo$ and do no
p"o/!de -e!" dea!%s "e%a!ng o -e a..oun #!- -e Depos!o"2 $a"!.!pan #!%% 'e d!s"!'ued Ne#
E<u!2 S-a"es !n -e $-2s!.a% A Ce"!f!.ae fo"& un%ess o-e"#!se .o&&un!.aed !n #"!!ng '2 -e
s-a"e-o%de"s on o" 'efo"e su.- dae as &a2 'e dee"&!ned '2 HDFC Bank o" .o&&!ee -e"eof.
1", ,pon -e .o&!ng !no effe. of -e S.-e&e, -e Ne# E<u!2 S-a"es of HDFC Bank o 'e !ssued and
a%%oed o -e sa!d Me&'e"s as p"o/!ded !n -e S.-e&e s-a%% 'e su'0e. o -e p"o/!s!ons of -e A"!.%es
of Asso.!a!on of HDFC Bank and s-a%% "ank pari passu f"o& -e dae of a%%o&en !n a%% "espe.s #!-
-e e=!s!ng e<u!2 s-a"e of HDFC Bank !n.%ud!ng en!%e&en !n "espe. of d!/!dends. No-!ng
.ona!ned -e"e!n s-a%% "es"!. -e !ssuan.e of e<u!2 s-a"es of CBo$ upon e=e".!se of -e so.k op!ons
and #a""ans !ssued p"!o" o De.e&'e" +*, >))C '2 CBo$. T-e !ssue and a%%o&en of Ne# E<u!2
S-a"es '2 HDFC Bank o -e &e&'e" of CBo$ as p"o/!ded !n -!s s.-e&e !s an !neg"a% pa" -e"eof and
s-a%% 'e dee&ed o -a/e 'een .a""!ed ou as !f -e p"o.edu"e %a!d do#n unde" Se.!on ?*1*A3 and an2
o-e" app%!.a'%e p"o/!s!ons of -e Co&pan!es A. and su.- o-e" saues and "egu%a!ons as &a2 'e
app%!.a'%e #e"e du%2 .o&p%!ed #!-.
1"- Sa/e and e=.ep as &a2 o-e"#!se 'e pe"&!ed o" "e<u!"ed unde" -e p"o/!s!ons of -!s S.-e&e o" fo"
-e u!%!Ba!on of 'a%an.es %2!ng !n -e se.u"!!es p"e&!u& a..oun fo" ad0us&en of good#!%% as
appea"!ng !n -e 'ooks of CBo$ as of De.e&'e" +*, >))C o" upon e=e".!se of an2 so.k op!ons o"
#a""ans g"aned p"!o" o De.e&'e" +*, >))C , CBo$ s-a%% no &ake an2 .-ange !n !s .ap!a% s"u.u"e,
e!-e" '2 !ssue of ne# e<u!2 o" $"efe"en.e s-a"es o" Bonus s-a"es, .on/e"!'%e de'enu"es, s-a"e
#a""ans, op!ons o" an2 o-e" se.u"!!es .on/e"!'%e !no e<u!2 s-a"es o" o-e"#!se effe. de."ease, su':
d!/!s!on, "edu.!on, "e:.%ass!f!.a!on, .onso%!da!on, 'u2:'a.k o" !n an2 o-e" &anne" #-!.- &a2 affe.
-e s-a"e e=.-ange "a!o, e=.ep '2 .onsen of -e Boa"d of D!"e.o"s of HDFC Bank. I !s .%a"!f!ed fo"
-e a/o!dan.e of dou' -a HDFC Bank &a2 !ssue fu"-e" e<u!2 s-a"es and A o" #a""ans .on/e"!'%e
!no e<u!2 s-a"es o -e $"o&oe" 9"oup of HDFC Bank Ld. pend!ng -e f!na% app"o/a% of -e RBI o
-!s S.-e&e, #!-ou d!su"'!ng -e s-a"e s#ap "a!o se ou !n C%ause 4.*, su'0e. o an o/e"a%% .ap on
d!%u!on a >,6>,)),>>) s-a"es of HDFC Bank.
1". No#!-sand!ng an2-!ng .ona!ned -e"e!n, !n -e e/en of an2 Me&'e" of CBo$ -a/!ng a s-a"e-o%d!ng
su.- -a su.- Me&'e" 'e.o&es en!%ed o a f"a.!on of a Ne# E<u!2 S-a"e, a%% -e f"a.!ona%
en!%e&ens of /a"!ous Me&'e"s s-a%% 'e agg"egaed and #!-ou an2 fu"-e" a., deed o" -!ng o 'e
done, su.- .onso%!daed Ne# E<u!2 S-a"es s-a%% sand /esed !n a "us o 'e se up '2 -e Boa"d of
HDFC Bank. Su.- "us s-a%% d!spose of -e agg"egae of a%% su.- f"a.!ona% -o%d!ngs and d!s"!'ue -e
Scheme of Amalgamation as approved by RBI
ne p"o.eeds 1afe" dedu.!on of e=penses !n.u""ed3 o -e "espe.!/e Me&'e"s of CBo$ !n p"opo"!on o
-e!" "espe.!/e f"a.!ona% en!%e&ens.
1"/ ,pon -e S.-e&e 'e.o&!ng effe.!/e, !n .onne.!on #!- -e g%o'a% depos!o"2 "e.e!ps #!- -e e<u!2
s-a"es of CBo$ 'e!ng -e unde"%2!ng se.u"!!es, -e Boa"d of HDFC Bank &a2 ake an2 of -e fo%%o#!ng
a.!ons a !s so%e d!s."e!on::
1a3 Ho%de"s of g%o'a% depos!o"2 "e.e!ps #!- -e e<u!2 s-a"es of CBo$ 'e!ng -e unde"%2!ng
se.u"!!es s-a%% 'e.o&e en!%ed o g%o'a% depos!o"2 "e.e!ps of HDFC Bank #!- -e unde"%2!ng
se.u"!!es 'e!ng -e Ne# E<u!2 S-a"es !n -e p"opo"!on of one e<u!2 s-a"e of Rs. *)A: ea.- of
HDFC Bank fo" e/e"2 >4 e<u!2 s-a"es of Re. *A: ea.- of CBo$@ o"
1'3 Ho%de"s of g%o'a% depos!o"2 "e.e!ps #!- -e e<u!2 s-a"es of CBo$ 'e!ng -e unde"%2!ng
se.u"!!es s-a%% 'e.o&e en!%ed o A&e"!.an Depos!o"2 S-a"es of HDFC Bank #!- -e
unde"%2!ng se.u"!!es 'e!ng -e Ne# E<u!2 S-a"es !n -e p"opo"!on of one e<u!2 s-a"e of
Rs. *)A: ea.- of HDFC Bank fo" e/e"2 >4 e<u!2 s-a"es of Re. *A: ea.- of CBo$@ o"
1.3 T-e g%o'a% depos!o"2 "e.e!ps #!- -e e<u!2 s-a"es of CBo$ 'e!ng -e unde"%2!ng se.u"!!es
s-a%% sand "ep%a.ed '2 e<u!2 s-a"es of HDFC Bank !n -e sa&e p"opo"!on as -e s-a"e s#ap
"a!o se ou !n -!s S.-e&e.
1"1 ,pon -e S.-e&e 'e.o&!ng effe.!/e, -e fo%%o#!ng so.k op!ons g"aned '2 CBo$ s-a%% sand /esed
on an a..e%e"aed 'as!s::
T5%e of Sto*k E?tent of O%tion E?tent of
O%tion a4read5 2etin) A**e4erated <etin)
Op!ons !ssued o ke2 Fa"!a'%e A%% su.- op!ons o /es on dae of f!%!ng
e&p%o2ees a an of -e S.-e&e #!- -e RBI.
e=e".!se p"!.e of
Rs.(A: pe" s-a"e of CBo$
Op!ons !ssued on 5)G *)G o /es on -e dae of f!%!ng of -e
Sepe&'e" >?, >))5 S.-e&e #!- -e RBI. T-e "e&a!n!ng
()G o /es on Sepe&'e" >?, >))?.
Op!ons !ssued on 5)G *)G o /es on -e dae of f!%!ng of -e
Hanua"2 >, >))6 S.-e&e #!- -e RBI. T-e "e&a!n!ng
()G o /es on Hanua"2 >, >))4.
Op!ons !ssued on 5)G *)G o /es on -e dae of f!%!ng of -e
Ap"!% *, >))6 S.-e&e #!- -e RBI. T-e "e&a!n!ng
()G o /es on Ap"!% *, >))4.
Op!ons !ssued on 5)G *)G o /es on -e dae of f!%!ng of -e
Hu%2 *), >))6 S.-e&e #!- -e RBI. T-e "e&a!n!ng
()G o /es on Hu%2 *), >))4.
Op!ons !ssued on >)G *)G o /es on -e dae of f!%!ng of -e
No/e&'e" *?, >))6 S.-e&e #!- RBI, +)G o /es on
Scheme of Amalgamation as approved by RBI
No/e&'e" *?, >))? and ()G o /es on
No/e&'e" *?, >))4.
Op!ons !ssued on N!% 5)G o /es on Augus *C, >))?
Augus *C, >))C and 5)G o /es on Augus *C, >))4
Op!ons !ssued on N!% 5)G o /es on O.o'e" +), >))?
O.o'e" +), >))C and 5)G o /es on O.o'e" +), >))4
In -e .ase of so.k op!ons, -e en!%e&ens o -e s-a"es of HDFC Bank afe" -e Effe.!/e Dae s-a%%
sand ad0used !n -e sa&e p"opo"!on as -e s-a"e s#ap "a!o se ou -e"e!n, #!- -e en!%e&ens o -e
unde"%2!ng s-a"es of HDFC Bank 'e!ng "ounded off o -e nea"es -!g-e" !nege".
#3" !ECLA6ATION OF !I<I!EN!S
)*+C Ban% and CBoP shall be entitled to declare or pa" di$idends, whether interim or final, to their
respecti$e e,uit" shareholders in respect of the accounting period prior to the -ffecti$e *ate, such that
the total pa"out is broadl" in line with past pa"out percentages in the ordinar" course( An" declaration
or pa"ment of di$idend inconsistent with past practice and outside the ordinar" course shall be sub!ect
to the prior appro$al of the Board of *irectors of each of )*+C Ban% and CBoP, and in accordance
with applicable .aw(
##" ACCO:NTING T6EATMENT
11.1 /pon the coming into effect of the 0cheme and with effect from the Appointed *ate1
a) All the Assets and .iabilities recorded in the boo%s of CBoP shall be transferred to and $ested
in )*+C Ban% pursuant to the 0cheme and shall be recorded b" )*+C Ban% at their respecti$e
boo% $alues as appearing in the boo%s of CBoP
'3 T-e 'a%an.e !n 7Sauo"2 Rese"/e A..oun8 of CBo$ s-a%% .on!nue o 'e des!gnaed as
Sauo"2 Rese"/e A..oun !n -e 'ooks of HDFC Bank@
.3 7A&a%ga&a!on E=penses $"o/!s!on A..oun8 s-a%% 'e ."ed!ed, !n -e 'ooks of HDFC Bank, '2
an a&oun dee"&!ned '2 -e Boa"d of D!"e.o"s of HDFC Bank fo" -e e=penses and .oss of
-e S.-e&e as pe" C%ause *C and fo" e=penses and .oss a"!s!ng as a d!"e. .onse<uen.e on
a..oun of .-anges !n -e 'us!ness of CBo$ p"oposed o" .ons!de"ed ne.essa"2 '2 -e Boa"d of
D!"e.o"s of HDFC Bank 1!n.%ud!ng 'u no %!&!ed o "a!ona%!Ba!on, upg"ada!on and
en-an.e&en of -u&an "esou".es and an2 .oss !n "e%a!on o so.k op!ons andAo" #a""ans of
CBo$ aken o/e" upon -!s S.-e&e 'e.o&!ng effe.!/e and e="ao"d!na"2 e=penses "e%a!ng o
&od!f2!ng s!gnage, &od!f2!ng sa!one"2, '"and!ng, .-ang!ng s2se&s and ne#o"k,
.o&&un!.a!on !n.%ud!ng &ed!a .oss, !&pa!"&en of e.-no%og2 and f!=ed asses, .ondu.!ng
gene"a% &ee!ngs, pa2&en of %!s!ng fees and o-e" sauo"2 and "egu%ao"2 .-a"ges, an2 .oss
"e%a!ng o e"&!na!on of .on"a.s .onse<uen upon -e !&p%e&ena!on of -!s S.-e&e, .oss of
"a/e% !n "e%a!on o -e .onso%!da!on .one&p%aed !n -!s S.-e&e, /a%ua!on, due d!%!gen.e,
!n/es&en 'ank!ng e=penses and .-a"ges "e%a!ng o p"epa"a!on of -e S.-e&e, .onsu%a!ons !n
"e%a!on o -e .onso%!da!on .one&p%aed !n -!s S.-e&e and "a!n!ng3, and o-e" e="ao"d!na"2
e=penses on !neg"a!on and .onso%!da!on unde" -e S.-e&e, o 'e !n.u""ed '2 HDFC Bank and
-e .o""espond!ng de'! s-a%% 'e "e.koned !n a""!/!ng a -e a&oun o 'e ."ed!ed o -e
A&a%ga&a!on Rese"/e A de'!ed o 9ene"a% Rese"/e as "efe""ed o !n C%ause **.*1d3.
d3 T-e e=.ess of -e /a%ue of -e ne asses of CBo$ o/e" -e pa!d:up /a%ue of -e s-a"es o 'e
!ssued and a%%oed '2 HDFC Bank pu"suan o -e e"&s of C%ause 4 and afe" g!/!ng effe. o
afo"esa!d .%auses and su.- fu"-e" ad0us&ens as &a2 'e dee&ed ne.essa"2 '2 -e Boa"d of
Scheme of Amalgamation as approved by RBI
D!"e.o"s of HDFC Bank, !n.%ud!ng p"o/!s!on aga!ns ."ed! "!sk !n-e"en !n ad/an.esAasses and
p"o/!s!on o#a"ds unp"o/!ded 'us!ness A .on!ngen %!a'!%!!es of CBo$, andAo" "e<u!"ed '2 an2
"egu%ao"2 o" sauo"2 au-o"!2 !n.%ud!ng su.- ad0us&ens as &a2 'e "e<u!"ed o ensu"e -e
un!fo"& app%!.a!on of a..oun!ng sanda"ds and po%!.!es adoped '2 HDFC Bank afe" ad0us!ng
aga!ns -e F%oa!ng $"o/!s!on A..oun o -e e=en a/a!%a'%e, and -e 'a%an.e s-a%% 'e
a..ouned fo" and ."ed!ed '2 HDFC Bank o !s A&a%ga&a!on Rese"/e ne of a= effe. on -e
sa!d ad0us&en o "e.o"d !&!ng d!ffe"en.es as defe""ed a=es. T-e s-o"fa%%, !f an2, !n -e e/en
of a def!.!, o..u""!ng #-!%s g!/!ng effe. o -e ad0us&ens -e"e!na'o/e, s-a%% 'e de'!ed o
9ene"a% Rese"/e. HDFC Bank s-a%% "e.o"d fo" -e defe""ed a= asse, !f an2, #!- "espe. o
p"o/!s!on.
#'" MO!IFICATIONS= AMEN!MENTS= AN! @ITH!6A@AL
#'"# HDFC Bank and CBo$ &a2 pend!ng san.!on of -e S.-e&e '2 RBI &ake o" assen, f"o& !&e o !&e,
on 'e-a%f of a%% pe"sons .on.e"ned o an2 &od!f!.a!ons o" a&end&ens o -e S.-e&e o" o an2
.ond!!ons o" %!&!a!ons #-!.- -e RBI o" an2 o-e" "e%e/an o" .on.e"ned au-o"!2 unde" La# &a2
d!"e. o" !&pose o" #-!.- &a2 o-e"#!se 'e .ons!de"ed ne.essa"2, and &a2 do and e=e.ue a%% a.s,
deeds, !ns"u&ens, &ae"s and -!ngs ne.essa"2 fo" pu!ng -e S.-e&e !no effe., o" fo" -e pu"pose of
'ee" s"u.u"!ng and effe.!/e !&p%e&ena!on of -e S.-e&e. T-e afo"esa!d po#e" of CBo$ and HDFC
Bank &a2 'e e=e".!sed '2 -e!" "espe.!/e Boa"ds of D!"e.o"s, o" '2 an2 su':.o&&!ee of -e Boa"ds
of D!"e.o"s as &a2 'e no&!naed '2 -e "espe.!/e $a"!es.
#'"' Fo" -e pu"pose of g!/!ng effe. o -e S.-e&e as san.!oned '2 -e RBI, -e Boa"d of D!"e.o"s of
HDFC Bank &a2 g!/e a%% su.- d!"e.!ons #-!.- a"e no !n.ons!sen #!- -e p"o/!s!ons of -e S.-e&e
as a"e ne.essa"2, e=ped!en, an.!%%a"2 o" des!"a'%e !n.%ud!ng d!"e.!ons fo" se%!ng o" "e&o/!ng an2
<ues!on of dou' o" d!ff!.u%2 -a &a2 a"!se #!- "ega"d o -e !&p%e&ena!on of -e S.-e&e, as !
-!nks f!, and su.- dee"&!na!on o" d!"e.!ons as -e .ase &a2 'e, s-a%% 'e '!nd!ng on a%% pe"sons
.onne.ed -e"e#!- o" o-e"#!se !ne"esed !n -e S.-e&e.
#'"( T-!s S.-e&e &a2 'e #!-d"a#n 'efo"e -e Effe.!/e Dae !n an2 of -e fo%%o#!ng e/ens 1!3 '2 &uua%
.onsen of -e $a"!es@ o" 1!!3 un!%ae"a%%2 '2 CBo$ on -e o..u""en.e of a Mae"!a% Ad/e"se C-ange !n
"espe. of HDFC Bank@ o" 1!!!3 un!%ae"a%%2 '2 HDFC Bank on -e o..u""en.e of Mae"!a% Ad/e"se
C-ange !n "espe. of CBo$.
#(" CON!ITIONS OF THE SCHEME
#("# HDFC Bank and CBo$ s-a%% &ake app%!.a!ons unde" Se.!on ((A and a%% o-e" app%!.a'%e p"o/!s!ons of
-e Bank!ng A. fo" san.!on!ng of -e S.-e&e '2 -e RBI and o'a!n a%% app"o/a%s as &a2 'e "e<u!"ed
'2 -e La# and fo" d!sso%u!on of CBo$ #!-ou 'e!ng #ound up unde" -e p"o/!s!ons of -e La#.
#("' T-e S.-e&e !s spe.!f!.a%%2 .ond!!ona% upon and su'0e. o:
a3 -e .onsen of a &a0o"!2 !n nu&'e" "ep"esen!ng #o:-!"ds !n /a%ue of -e Me&'e"s of HDFC
Bank and of CBo$ !s o'a!ned a -e!" "espe.!/e &ee!ngs, p"esen e!-e" !n pe"son o" '2 p"o=2
a a &ee!ng .a%%ed fo" -e pu"pose.
'3 a%% ne.essa"2 .onsens, au-o"!Ba!ons o" o-e" app"o/a%s of an2 k!nd #-!.- &a2 'e "e<u!"ed
f"o& an2 go/e"n&ena% o" o-e" .o&peen "egu%ao"2 au-o"!2 fo" -e .onsu&&a!on of
a&a%ga&a!on, !n.%ud!ng #!-ou %!&!a!on -e app"o/a% of -e RBI unde" Se.!on ((A and
o-e" app%!.a'%e p"o/!s!ons of -e Bank!ng A. and -e gu!de%!nes -e"eof.
Scheme of Amalgamation as approved by RBI
.3 a%% o-e" ne.essa"2 .onsens, au-o"!Ba!ons and o-e" app"o/a%s #-!.- &a2 'e "e<u!"ed '2 CBo$
o" HDFC Bank unde" -e p"o/!s!ons of -e Co&pan!es A., an2 o-e" app%!.a'%e La# fo" -e
.onsu&&a!on of -e a&a%ga&a!on.
#+" GENE6AL TE6MS AN! CON!ITIONSA
#+"# An o"de" !n e"&s of C%ause *+.>1'3 -e"e!na'o/e and su':se.!on 16C3 of Se.!on ((A of -e Bank!ng
A. s-a%% 'e .on.%us!/e e/!den.e -a a%% "e<u!"e&ens of Se.!on ((A of -e Bank!ng A. "e%a!ng o
a&a%ga&a!on -a/e 'een .o&p%!ed #!- and a .op2 of -e sa!d o"de" .e"!f!ed !n #"!!ng '2 an off!.e" of
-e RBI o 'e a "ue .op2 of su.- o"de" s-a%% !n a%% %ega% p"o.eed!ngs 1#-e-e" !n appea% o" o-e"#!se3 'e
ad&!ed as e/!den.e o -e sa&e e=en as -e o"!g!na% o"de" and -e o"!g!na% s.-e&e.
#+"' An2 Me&'e" of HDFC Bank o" CBo$, as -e .ase &a2 'e, #-o -as /oed aga!ns -e S.-e&e a -e
&ee!ng of HDFC Bank o" CBo$, as -e .ase &a2 'e, o" -as g!/en no!.e !n #"!!ng a o" p"!o" o -e
&ee!ng of HDFC Bank o" CBo$, as -e .ase &a2 'e, o" o -e p"es!d!ng off!.e" of -e &ee!ng of -e
s-a"e-o%de"s of e!-e" HDFC Bank o" CBo$, as -e .ase &a2 'e, -a -e d!ssens f"o& -e S.-e&e, s-a%%
su'0e. o app"o/a% of -e RBI, 'e en!%ed, upo -e Re.o"d Dae, o .%a!& f"o& HDFC Bank o" CBo$,
as -e .ase &a2 'e, !n "espe. of s-a"es -e%d '2 -!& !n HDFC Bank o" CBo$, as -e .ase &a2 'e, -e!"
/a%ue as dee"&!ned '2 -e RBI #-en san.!on!ng -e S.-e&e and su.- Me&'e", !n .ons!de"a!on
-e"eof, s-a%% .o&pu%so"!%2 ende" -e s-a"es -e%d '2 -!&, !n HDFC Bank o" CBo$, as -e .ase &a2 'e,
o HDFC Bank o" CBo$ "espe.!/e%2 fo" .an.e%%a!on -e"eof and o -a e=en -e s-a"e .ap!a% of
HDFC Bank o" CBo$, as -e .ase &a2 'e, s-a%% sand "edu.ed. T-e dee"&!na!on '2 -e RBI as o -e
/a%ue of -e s-a"es o 'e pa!d o -e d!ssen!ng Me&'e" s-a%% 'e f!na% and '!nd!ng on su.- d!ssen!ng
s-a"e-o%de"s fo" a%% pu"poses.
#," <ALI!IT> OF THE SCHEME
In -e e/en Effe.!/e Dae s-a%% no -a/e o..u""ed '2 Ma".- +*, >))4 o" '2 su.- %ae" dae as &a2 'e
ag"eed o '2 and 'e#een -e "espe.!/e Boa"ds of D!"e.o"s of CBo$ and HDFC Bank 1-e ICu:off
DaeE3, -e S.-e&e s-a%% 'e.o&e nu%% and /o!d and !n -a e/en no "!g-s and %!a'!%!!es #-asoe/e" s-a%%
a.."ue o o" 'e !n.u""ed !ne" se '2 -e pa"!es o" -e!" s-a"e-o%de"s o" ."ed!o"s o" e&p%o2ees o" an2
o-e" pe"son. In su.- .ase 'o-, CBo$ and HDFC Bank, s-a%% 'ea" -e!" o#n .oss.
#-" SA<INGS OF CONCL:!E! T6ANSACTIONS
T-e "ansfe" of p"ope"!es and %!a'!%!!es unde" C%ause ( a'o/e and -e .on!nuan.e of p"o.eed!ngs '2 o"
aga!ns CBo$ s-a%% no affe. an2 "ansa.!on o" p"o.eed!ngs a%"ead2 .on.%uded '2 CBo$ un!% -e
Effe.!/e Dae, o -e end and !nen -a HDFC Bank a..eps and adops a%% a.s, deeds and -!ngs done
and e=e.ued '2 CBo$ !n "espe. -e"eo as done and e=e.ued on 'e-a%f of !se%f.
#." COSTS
Ea.- $a"2 s-a%% 'ea" !s o#n .oss and e=penses !n "espe. of a%% &ae"s a"!s!ng ou of, o" !n .onne.!on
#!-, -!s S.-e&e un%ess o-e"#!se e=p"ess%2 ag"eed !n #"!!ng. E=penses o#a"ds -e 0o!n /a%ua!on
s-a%% 'e 'o"ne '2 -e $a"!es e<ua%%2.