TIDM43FN
RNS Number : 8040H
Housing Development Fin. Corp. Ltd.
02 August 2019
Ref. No.: SE/2019-20/140
August 2, 2019
BSE Limited National Stock Exchange of India Limited
P. J. Towers Exchange Plaza, Plot No. C/1, G Block
Dalal Street Bandra-Kurla Complex
Mumbai 400 001 Bandra (East), Mumbai 400 051
Kind Attn: Sr. General Manager Kind Attn: Head - Listing
DCS - Listing Department
Dear Sirs,
Sub: Intimation under Regulations 30 and 44 of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015 (Listing
Regulations)
We wish to inform you that the 42(nd) Annual General Meeting
(AGM) of the Members of the Corporation was held today at 2.30 p.m.
at Mumbai. The Members present at the AGM transacted the businesses
mentioned in the Notice dated May 13, 2019.
In this connection and as required under the Listing Regulations
and the applicable provisions of the Companies Act, 2013, we submit
the following:
1. Summary of the proceedings of the AGM;
2. Combined e-voting results in the prescribed format; and
3. Report on combined e-voting results dated August 2, 2019
issued by the Scrutinizer i.e. Mr. N. L. Bhatia, Managing Partner,
Messrs N. L. Bhatia & Associates, Practicing Company
Secretaries.
You are requested to kindly take the above documents on
record.
Thank you.
Yours faithfully,
For Housing Development Finance Corporation Limited
Ajay Agarwal
Company Secretary
Encl. a/a
cc. The London Stock Exchange
10, Paternoster Square,
London, EC4M 7LS.
Summary of the Proceedings of the 42(nd) Annual General Meeting
of the Corporation
The 42(nd) Annual General Meeting (AGM) of the Members of the
Corporation was held on Friday, August 2, 2019 at 2:30 p.m. at
Birla Matushri Sabhagar, 19, New Marine Lines, Mumbai 400 020. The
requisite quorum being present, Mr. Deepak S. Parekh, Chairman of
the Corporation called the meeting to order and welcomed the
Members to the meeting. The Corporation had also provided facility
for one-way live web cast of the AGM, which was available on the
Corporation's website www.hdfc.com. The meeting commenced at 2.30
p.m. and concluded at around 5.10 p.m.
On behalf of the Board of Directors, Mr. Deepak S. Parekh
extended a warm welcome to Mr. Bhaskar Ghosh and Ms. Ireena Vittal,
newly appointed independent directors.
Mr. Parekh stated that all the directors of the Corporation were
present at the AGM including Mr. Jalaj Dani, Chairman of the Audit
and Governance Committee, Dr. J.J. Irani, Chairman of the
Stakeholders Relationship Committee and the Nomination and
Remuneration Committee of the Corporation. Representatives of the
statutory and secretarial auditors also attended the meeting.
295 Members attended the AGM in person or through proxy.
Mr. Parekh welcomed all the Members to the AGM of the
Corporation. He further announced that the Corporation has received
10 proxies representing 0.001 % of the total issued and paid-up
share capital of the Corporation.
Mr. Parekh informed that the requisite registers were open for
inspection by the Members till the conclusion of the meeting.
Mr. Parekh then commenced his speech and gave an overview of the
operations and the financial performance of the Corporation for the
financial year ended March 31, 2019 and also for the quarter ended
June 30, 2019. He also provided an insight on the major
developments during the
FY 2018-19 and the current year. Thereafter, he invited
questions from the Members on the financials and the businesses
listed in the Notice to be transacted at the AGM.
After listening to all the queries, Mr. Parekh gave detailed
response to the said queries and concluded his speech by placing on
record his profound gratitude to all the stakeholders for having
reposed their confidence in the Corporation and to the employees of
the Corporation for their hard work and dedication. Thereafter, he
informed the Members that the Corporation had made arrangements for
e-voting at the venue of the meeting for those shareholders who had
not cast their vote through remote e-voting facility.
The following valid businesses as set out in the Notice dated
May 13, 2019 convening this AGM were transacted through
e-voting:
Ordinary Business:
1(a). Adoption of the audited financial statements of the
Corporation for the financial year ended March 31, 2019 together
with the reports of the Board of Directors and Auditors
thereon.
1(b). Adoption of the audited consolidated financial statements
for the financial year ended March 31, 2019 together with the
report of the Auditors thereon.
2. Declaration of final dividend on equity shares of the
Corporation for the financial year ended March 31, 2019 and
confirmation of payment of interim dividend during the said
period.
Special Business:
3. Appointment of Mr. V. Srinivasa Rangan (DIN: 00030248) as an
Independent Director of the Corporation.
4. Fixation of Remuneration of Messrs B S R & Co. LLP,
Chartered Accountants (Firm Registration No. 101248W/W-100022),
Statutory Auditors of the Corporation at Rs 2,00,00,000 plus
applicable taxes and reimbursement of out of pocket expenses.
5. Appointment of Dr. Bhaskar Ghosh (DIN: 06656458) as an
Independent Director of the Corporation.
6. Appointment of Ms. Ireena Vittal (DIN: 05195656) as an
Independent Director of the Corporation.
7. Re-Appointment of Mr. Nasser Munjee (DIN: 00010180) as an
Independent Director of the Corporation.
8. Re-Appointment of Dr. J. J. Irani (DIN: 00311104) as an
Independent Director of the Corporation.
9. Approval of related party transactions with HDFC Bank Limited.
10. Approval of payment of commission to the non-executive directors of the Corporation.
11. Approval of revision in salary range of Mr. Keki M. Mistry,
Managing Director (designated as Vice Chairman & CEO) of the
Corporation from ` 27,00,000 per month to ` 36,00,000 per month
with effect from January 1, 2019.
12. Approval for issuance of redeemable non-convertible
debentures and/or other hybrid instruments on private placement
basis, up to an amount not exceeding `1,25,000 crore.
Based on the Scrutinizer's Report dated August 2, 2019 issued by
Mr. N. L. Bhatia of Messrs N. L. Bhatia & Associates,
practising company secretaries, all the aforementioned business
were passed by the Members with requisite majority.
*******
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END
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