Definitions of Indian Depository Receipts framework clarify issuer, depository, custodian and intermediaries roles and regulatory reference to governing statutes.

Rule 3 defines key terms for the IDR regime: Indian Depository Receipt (IDR) as a depository receipt issued by a Domestic Depository against underlying equity of a foreign issuing company; identifies Domestic Depository, Overseas Custodian Bank, Merchant Banker, Chief Accounts Officer and SEBI; and mandates that undefined terms take meanings from the Companies Act, Income tax Act, SEBI Act, Depositories Act or their rules and regulations.

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