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of <h1>Foreign company prospectus and Indian Depository Receipts: Sections 34-36 liability applies; business closure barred until investors repaid.</h1> Sections 34 to 36 apply to a foreign company's prospectus issued in India under section 389 in the same manner as they apply to a prospectus issued by an Indian company, and they also apply to the issue of Indian Depository Receipts by a foreign company; accordingly, foreign issuers and their offer documents are subject to the same liability and compliance framework governing misstatements and related prospectus obligations. Subject to section 376, Chapter XX applies mutatis mutandis to the closure of a foreign company's place of business in India, treating it as if incorporated in India, where the foreign company has raised monies through an offer or issue of securities under Chapter XX that have not been repaid or redeemed; consequently, such closure is regulated under the Chapter XX framework until outstanding investor obligations are satisfied.
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