Exhibit 99
August 21, 2024
New York Stock Exchange
11, Wall Street,
New York,
NY 10005
USA
Dear Sir,
Sub: Disclosure
We hereby inform that a penalty of Rs. 3.22 crore has been imposed on the Bank by Commercial Tax Officer, Chandigarh for matter/s mentioned in the below table.
Sr. no | Particulars | Details | ||
1. | Name of the authority | Commercial Tax Officer, Chandigarh | ||
2. | Period Involved | F.Y. 2019-20 | ||
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. | 21-August-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. 63.84 crore (includes tax, interest and penalty) | ||
The Bank is evaluating appropriate legal remedy, including appeal, as per law.
We request you to bring the above to the notice of all concerned.
Yours faithfully,
For HDFC Bank Limited
Sd/-
Ajay Agarwal
Company Secretary & Head – Group Oversight
