Issue conditions for Indian Depository Receipts require foreign exchange compliance, restricted redemptions, issuance caps, and rupee denomination. Issuance of Indian Depository Receipts is subject to foreign exchange laws for repatriation of proceeds; IDRs must be denominated in Indian rupees; IDRs cannot be redeemed into underlying equity until after a mandated minimum holding period from issue; and aggregate IDRs issued by an issuing company in a financial year are capped relative to its paid up capital and free reserves.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Issue conditions for Indian Depository Receipts require foreign exchange compliance, restricted redemptions, issuance caps, and rupee denomination.
Issuance of Indian Depository Receipts is subject to foreign exchange laws for repatriation of proceeds; IDRs must be denominated in Indian rupees; IDRs cannot be redeemed into underlying equity until after a mandated minimum holding period from issue; and aggregate IDRs issued by an issuing company in a financial year are capped relative to its paid up capital and free reserves.
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