National Company Law Tribunal (NCLT) reserved its order in the HDFC-HDFC Bank merger. The Housing Development Finance Corporation and HDFC Bank Counsel on Monday informed the NCLT that the merger has been approved by shareholders with an overwhelming majority.

The counsel of the two companies told the National Company Law Tribunal (NCLT) that no objections were received by anyone on the merger.

Prior to the shareholders, HDFC Ltd had already received approval letters from the Reserve Bank of India, Securities and Exchange Board of India (SEBI), PFRDA and Competition Commission of India (CCI). It had earlier also received no objection certificate from both the stock exchanges.

The HDFC-HDFC Bank merger, dubbed as one of the largest transactions in India’s corporate history, was announced on April 4, 2022, when HDFC Bank declared that its board has approved the amalgamation of HDFC Investments and HDFC Holdings with HDFC and that of HDFC into HDFC Bank.