Depository receipt eligibility requires offshore issuers to have home-jurisdiction authority and unencumbered, fully paid dematerialised underlying securities. Depository receipt issuance by an issuer incorporated outside an IFSC is permitted only where the issuer is authorised under applicable laws of its home ... Summary
Depository receipt eligibility requires offshore issuers to have home-jurisdiction authority and unencumbered, fully paid dematerialised underlying securities.
Depository receipt issuance by an issuer incorporated outside an IFSC is permitted only where the issuer is authorised under applicable laws of its home jurisdiction to issue such receipts. The underlying securities represented by the depository receipts must be held in dematerialised form, be fully paid, and remain free from all encumbrances.
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