NCLT okays HDFC, HDFC Bank merger, paving way for creation of finance giant

HDFC Bank awaiting clarity from the RBI on forbearances as merger gets last regulatory approval

The Mumbai bench of National Company Law Tribunal (NCLT) has approved the merger of mortgage financier HDFC Ltd into HDFC Bank, paving the way for one of the largest financial behemoths in India.

The merger already has approvals from the Securities and Exchange Board of India (Sebi) and the Competition Commission of India (CCI), shareholders of both entities. It has also approval from the Reserve Bank of India (RBI) and the two stock exchanges.

The merger was announced in April 2022, wherein HDFC Investments Ltd and HDFC Holdings Ltd, which are wholly owned subsidiaries of HDFC, would merge with and