Exhibit 99
November 7, 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. 18.39 crore has been imposed on the Bank by Deputy Commissioner of State Tax, Andhra Pradesh for matter/s mentioned in the below table.
Sr. no | Particulars | Details | ||
| 1. | Name of the authority | Deputy Commissioner of State Tax, Andhra Pradesh | ||
| 2. | Period Involved | F.Y. 2017-18 to F.Y. 2021-22 | ||
| 3. | Nature and details of the action(s) taken, initiated or order(s) passed | Alleged excess availment of input tax credit, ineligible input tax credit - Order passed under section 74 of CGST and APGST Act | ||
| 4. | Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority. | 06-11-2024 | ||
| 5. | Details of the violation(s)/contravention(s) committed or alleged to be committed | Alleged excess availment of input tax credit, ineligible input tax credit | ||
| 6. | Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible | Rs. 45.93 crore (includes tax, interest and penalty) |
The Bank is evaluating appropriate legal remedy, including appeal, as per law.
Yours faithfully,
For HDFC Bank Limited
Sd/-
Ajay Agarwal
Company Secretary & Head – Group Oversight
