Indian Depository Receipts regulation empowers rule making for offers, disclosure, depository dealings and transfers by foreign companies. The Central Government may make rules governing the offer of Indian Depository Receipts by companies incorporated outside India, including requirements for disclosures in prospectuses or letters of offer, the depository mode of dealing and roles of custodians and underwriters, and the manner of sale, transfer or transmission of such receipts, applicable regardless of whether the issuing company has or will establish a place of business in India.