A.D. (M.A. Series) Circular No.02/2000, dt. 14/03/2000

Amalgamation of Times Bank Ltd. with HDFC Bank Ltd.

To

All Authorised Dealers in Foreign Exchange

Dear Sirs,

Consequent to the amalgamation of Times Bank Ltd. with HDFC Bank Ltd. with effect from 26th February 2000, Times Bank Ltd. has ceased to exist and hence licence to deal in Foreign Exchange issued under Section 6 of the Foreign Exchange Regulation Act, 1973 to Times Bank Ltd. has been treated as cancelled.

2. The name of Times Bank Ltd. appearing in the Annexure to Chapter 1 of Exchange Control Manual may be deleted.

3. Authorised dealers may bring the contents of this circular to the notice of their constituents concerned.

4. The directions contained in this circular have been issued under Section 73(3) of the Foreign Exchange Regulation Act, 1973 (46 of 1973) and any contravention or non-observance thereof is subject to the penalties prescribed under the Act.

Yours faithfully,
B. MAHESHWARAN
Chief General Manager

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