FOREIGN EXCHANGE MANAGEMENT (TRANSFER OR ISSUE OF ANY FOREIGN SECURITY) REGULATIONS, 2000Foreign Exchange Management (Transfer Or Issue of Any Foreign Security) Regulations, 2000
FOREIGN EXCHANGE MANAGEMENT (TRANSFER OR ISSUE OF ANY FOREIGN SECURITY) REGULATIONS, 2000Foreign Exchange Management (Transfer Or Issue of Any Foreign Security) Regulations, 2000
Foreign security swap by ADR/GDR permits Indian parties to acquire foreign shares subject to issuance, valuation and reporting conditions. An Indian party may acquire foreign company shares by exchanging ADRs/GDRs issued under the 1993 depository receipt scheme, provided the Indian party's ... Summary
Foreign security swap by ADR/GDR permits Indian parties to acquire foreign shares subject to issuance, valuation and reporting conditions.
An Indian party may acquire foreign company shares by exchanging ADRs/GDRs issued under the 1993 depository receipt scheme, provided the Indian party's ADRs/GDRs are listed abroad, the issue is backed by fresh equity, post-issue non-resident holding complies with the sectoral cap, and the investment does not exceed the higher of the amount equivalent of US$ 100 mn or ten times the party's prior-year export earnings; valuation rules and Form ODG reporting to the Reserve Bank within 30 days apply.
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