Company Announcements

Ref. No.: SE/2021-22/122

July 20, 2021

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 44^th Annual General Meeting (AGM) of the Members of the Corporation was held today at 11.00 a.m. via two-way Video Conference. The Members who participated at the AGM transacted the businesses mentioned in the Notice dated June 18, 2021.

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 July 20, 2021 issued by the Scrutinizer i.e. Mr. Bhaskar Upadhyay, 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 44^th Annual General Meeting of the Corporation

The 44^th Annual General Meeting (AGM) of the Members of the Corporation was held on Tuesday, July 20, 2021 at 11:00 a.m. via two-way Video Conference (VC) in compliance with the General Circular Nos. 14/2020, 17/2020, 20/2020 and 02/2021 dated April 8, 2020, April 13, 2020, May 5, 2020 and January 13, 2021 respectively issued by the Ministry of Corporate Affairs (MCA Circulars) and applicable provisions of the Companies Act, 2013 and the Rules made thereunder.

239 Members (including corporate representatives) attended the AGM through VC. The requisite quorum being present through VC at 11.00 a.m., Mr. Deepak S. Parekh, Chairman of the Corporation commenced the AGM and welcomed the Members to the meeting. The Chairman confirmed that the Corporation had taken adequate steps and all efforts feasible, to enable Members to participate and vote on the resolutions being considered at the AGM.

The Chairman confirmed that all the directors of the Corporation were present at the AGM including Mr. Jalaj Dani, Chairman of the Audit and Governance Committee and Dr. J.J. Irani, Chairman of the Stakeholders Relationship Committee and the Nomination and Remuneration Committee of the Corporation. He further confirmed that certain members of senior management, the Company Secretary and Representatives of the statutory and secretarial auditors, who were also invited to participate in the proceedings of the Meeting, participated through VC.

The Chairman thereafter informed that the Corporation has enabled the Members to participate at the said AGM through the VC facility provided by National Securities Depository Limited (NSDL) and stated that the proceedings of the AGM could be viewed through the website of the Corporation via one way live webcast.

The Chairman informed that the requisite registers were available for inspection by the Members till the conclusion of the meeting.

The Chairman then commenced his speech and gave an overview of the operations and the financial performance of the Corporation during the financial year ended March 31, 2021. He also provided an insight on the major developments during the financial year 2020-21 and the current year, including impact of the COVID-19 pandemic on the Corporation. Thereafter, he invited questions from the Members on the financials and the businesses listed in the Notice to be transacted at the AGM.

After all the queries were raised, Mr. Parekh along with Mr. Keki M. Mistry, Vice Chairman & CEO gave detailed responses to the said queries. Mr. Parekh in response to a query raised by a shareholder with regard to the performance of the Corporation stated that the retail disbursements during the quarter ended June 30, 2021 were 181% higher than the corresponding quarter of the previous financial year.

Mr. Parekh thereafter concluded his speech by placing on record his profound gratitude to all the stakeholders for having reposed their confidence in the Corporation, to the employees of the Corporation for their hard work and dedication. Thereafter, he informed that the Members who had not cast their vote through the remote e-voting, may cast their vote through the e-voting platform being provided by NSDL within next 30 minutes i.e. upto 2.48 p.m. The AGM accordingly was concluded at 2.48 p.m.

The following businesses as set out in the Notice dated June 18, 2021 convening this AGM were transacted through e-voting (remote e-voting and e-voting during the AGM):

Ordinary Business:

1(a). Adoption of the audited financial statements of the Corporation for the financial year ended March 31, 2021 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, 2021 together with the report of the Auditors thereon.

2.       Declaration of dividend on equity shares of the Corporation for the financial year ended March 31, 2021.

3.      Re-appointment of Mr. Keki M. Mistry (DIN: 00008886) as a Director of the Corporation, who retires by rotation and being eligible offers himself for re-appointment.

Special Business:

4.      Revision in salary range of Ms. Renu Sud Karnad, Managing Director of the Corporation.

5.      Revision in salary range of Mr. V. Srinivasa Rangan, Whole-time Director (designated as 'Executive Director') of the Corporation.

6.      Re-appointment of Mr. Keki M. Mistry as the Managing Director (designated as 'Vice Chairman & Chief Executive Officer') of the Corporation for a period of 3 years with effect from May 7, 2021.

7.      Approval of related party transactions with HDFC Bank Limited.

8.      Approval for increasing the borrowing limits of the Board of Directors of the Corporation.

9.      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 July 20, 2021 issued by Mr. Bhaskar Upadhyay, Partner of Messrs N. L. Bhatia & Associates, practising company secretaries, all the aforementioned businesses were passed by the Members with requisite majority.

http://www.rns-pdf.londonstockexchange.com/rns/8661F_1-2021-7-20.pdf