Merger of Centurion Bank of Punjab and HDFC Bank • Altaf Hussain Siddiqui • Rahul Dhandania • Pankaj Singh • Vikram Duggal • Rajendra. created value to the shareholders. Hence this study of the merger of Centurion Bank of Punjab with HDFC bank. Keywords: Banks, Merger and Acquisition, EVA. Scheme of Amalgamation of Centurion Bank of Punjab Limited with HDFC Off.: HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai

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This page was last edited on 14 Juneat Choose your reason below and anf on the Report button. It is expressly provided that, the provident fund, superannuation fund or any other special scheme sfund s created or existing for the benefit of the employees of CBoP, on and from the Effective Date, shall stand transferred to HDFC Bank and HDFC Bank shall stand substituted for CBoP for all purposes whatsoever relating to the administration or operation of such schemes or funds or in relation to obligations to make contributions to the said schemes or funds in accordance with the provisions of such schemes or funds as per the terms provided in the respective trust deeds or other documents to the end and intent that all rights, duties, powers and obligations of CBoP in relation to such funds or schemes shall become those of HDFC Bank.

In the case of stock options, the entitlements to the shares of HDFC Bank after the Effective Date shall stand adjusted in the same proportion as the share swap ratio set out herein, with the entitlements to the underlying shares of HDFC Bank being rounded off to the nearest higher integer. The Scheme is specifically conditional upon and subject to: HDFC Banm and CBoP centurikn be entitled to declare or pay dividends, whether interim or final, to their respective equity shareholders in respect of the accounting period prior to the Effective Date, such that the total payout is broadly in line with past payout percentages in the ordinary course.


CBoP shall be deemed to have carried on all its business and activities and shall be mrrger to have held and been in possession of and shall hold and be in possession of all the Assets for and on account of and in trust for HDFC Bank; and.

No decision of the Integration Committee shall be valid unless taken unanimously.

HDFC Bank, Centurion Bank of Punjab merger swap fixed at 1:29

To see your saved stories, click on link hightlighted in bold. The determination by the RBI as to the value of the shares to be paid to the dissenting Member shall be final and binding on such dissenting shareholders for all purposes. From Wikipedia, the free encyclopedia.

The share-swap deal, worth over Rs 10, crore, may be worked around the current market price of Rs 57 a share of CBoP. Retrieved from ” https: Centurion Bank of Punjab now operates on a strong nationwide franchise of branches and ATMs in locations fo the country, supported by employee base of over 7, employees.

The biggest merger in Indian banking is about to happen.

Mr Bhandari will join the board of the new bank while Rana Talwar is likely to be its non-executive chairman. Sources said, the HDFC group had a more ambitious deal in mind: Never miss a great news story! Holders of global depository receipts with the equity shares of CBoP being the underlying securities shall become entitled to American Depository Shares of HDFC Bank with the underlying securities being the New Equity Shares in the proportion of one equity share of Rs.

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Centurion Bank of Punjab merges with HDFC Bank – Banknet India

HDFC Bank shall, under the provisions of the Scheme, be deemed to be authorized to execute venturion such writings on behalf of CBoP and to implement or carry out all such formalities or compliances referred to hereinabove on part of CBoP to be carried out or performed after the Effective Date. Banking Insurance Capital Markets and allied industries. The bank’s competitive strength clearly lies in the use of technology and the ability to deliver world-class service with rapid response time.


India Inc to face difficulty in fund raising.

Any holding of shares or debt by either bank in the other bank shall stand cancelled. Will be displayed Will not be displayed Will be displayed.

As of March 31, total deposits were INR 1, There was a lock-in period for these shares. NIFTY 50 10, Centurion Bank of Punjab is one of the leading new generation private sector banks in India.

HDFC has a HDFC Bank shall record for the deferred tax asset, if any, with respect to provision.

HDFC Bank shall give a notice by a publication xnd a widely circulated newspaper in India to its contract counter parties, debtors or depositees, as the case may be, that pursuant to the order of the RBI having sanctioned the Scheme, cejturion said debt, loan, advances, etc. For the year ended March 31,the bank reported a net profit of INR With mergrr from the Appointed Date and upon the Scheme becoming effective, any loans or other obligation including any guarantees, letter of credit, letters of comfort or any other instrument or arrangement which may give rise to a contingent liability in whatever formdue between or amongst CBoP and HDFC Bank, if any, shall stand discharged and there shall be no liability in that behalf on either party.