New Delhi: Fair Trade Regulator Competition Commission of India ,CCI) has approved the merger proposal of and its parent Ltd. The proposed combination envisages the merger of HDFC Investments and HDFC Holdings with HDFC Ltd In the first phase and later, the merger of HDFC Ltd with HDFC Bank.
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In a tweet on Friday, the CCI said it has “approved the proposed amalgamation of HDFC Ltd., HDFC Bank, HDFC Investments and HDFC Holdings.”
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In April, the country’s largest housing finance company HDFC Ltd announced that it would merge with HDFC Bank.
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Deals above a certain threshold require approval from the regulator, which monitors unfair trade practices in the market. PTI HG DRR