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of <h1>Central Government Sets Rules for Issuance and Management of Indian Depository Receipts under Section 605A of Companies Act.</h1> Section 605A of the Companies Act, 1956, allows the Central Government to establish rules for the issuance and handling of Indian Depository Receipts (IDRs) by companies incorporated outside India. These rules can cover the offering of IDRs, disclosure requirements in prospectuses or offer letters, the management of IDRs in a depository mode by custodians and underwriters, and the processes for selling, transferring, or transmitting IDRs. This provision applies regardless of whether the foreign company has or intends to establish a business presence in India.
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