Exhibit 99
May 2, 2024
New York Stock Exchange
11, Wall Street,
New York,
NY 10005
USA
Dear Sir/ Madam,
Sub: Disclosure
It is hereby informed that the penalties as given below has been imposed on the Bank. The details as required to be provided as per sub-para 20 of Para A of Part A of Schedule III of SEBI LODR Regulations are included in the Annexures:
| 1. | Penalty of Rs. 0.02 crore has been imposed on the Bank by Additional Commissioner – Customs & Central Tax, Telangana (Details provided in Annexure 1) |
| 2. | Penalty of Rs. 0.98 crore has been imposed on the Bank by Deputy Commissioner of State Tax, Maharashtra (Details provided in Annexure 2) |
| 3. | Penalty of Rs. 0.003 crore has been imposed on the Bank by Deputy Commissioner of State Tax, Assam (Details provided in Annexure 3) |
The Bank is evaluating appropriate legal remedy, including appeal, as per law.
Yours faithfully,
For HDFC Bank Limited
Sd/-
Santosh Haldankar
Company Secretary
Annexure 1
Details as required to be provided as per sub-para 20 of Para A of Part A of Schedule III of SEBI LODR Regulations w.r.t. Penalty of Rs. 0.02 crore has been imposed on the Bank by Additional Commissioner – Customs & Central Tax, Telangana
| Sr. no | Particulars | Details | ||
| 1. | Name of the authority | Additional Commissioner - Customs & Central Tax, Telangana | ||
| 2. | Period Involved | F.Y. 2018-19 | ||
| 3. | Nature and details of the action(s) taken, initiated or order(s) passed | Alleged excess availment of input tax credit - Order passed under section 73 (9) of CGST Act | ||
| 4. | Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority. | 29-04-2024 | ||
| 5. | Details of the violation(s)/contravention(s) committed or alleged to be committed | Alleged excess availment of input tax credit | ||
| 6. | Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible | Rs. 0.25 crore (includes tax and penalty) |
Annexure 2
Details as required to be provided as per sub-para 20 of Para A of Part A of Schedule III of SEBI LODR Regulations w.r.t. Penalty of Rs. 0.98 crore has been imposed on the Bank by Deputy Commissioner of State Tax, Maharashtra
| Sr. no | Particulars | Details | ||
| 1. | Name of the authority | Deputy Commissioner of State Tax, Maharashtra | ||
| 2. | Period Involved | F.Y. 2018-19 | ||
| 3. | Nature and details of the action(s) taken, initiated or order(s) passed | Alleged short payment of Tax and disallowance of input tax credit - Order passed under section 73 (9) of CGST Act | ||
| 4. | Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority. | 29-04-2024 | ||
| 5. | Details of the violation(s)/contravention(s) committed or alleged to be committed | Alleged short payment of tax and excess availment of input tax credit | ||
| 6. | Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible | Rs. 16.75 crore (includes tax, interest and penalty) |
Annexure 3
Details as required to be provided as per sub-para 20 of Para A of Part A of Schedule III of SEBI LODR Regulations w.r.t. Penalty of Rs. 0.003 crore has been imposed on the Bank by Deputy Commissioner of State Tax, Assam
| Sr. no | Particulars | Details | ||
| 1. | Name of the authority | Deputy Commissioner of State Tax, Assam | ||
| 2. | Period Involved | F.Y. 2018-19 | ||
| 3. | Nature and details of the action(s) taken, initiated or order(s) passed | Alleged excess availment of input tax credit - Order passed under section 73(9) of CGST Act | ||
| 4. | Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority. | 30-04-2024 | ||
| 5. | Details of the violation(s)/contravention(s) committed or alleged to be committed | Alleged excess availment of input tax credit | ||
| 6. | Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible | Rs. 0.03 crore (includes tax, interest and penalty) |
