Introducing the “In Favour Of” filter in Case Laws.
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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Foreign companies can issue Indian Depository Receipts to residents and non-residents with SEBI compliance and rupee denomination requirements.</h1> Eligible foreign companies may issue Indian Depository Receipts through domestic depositories to residents and non-residents, subject to compliance with Companies Rules 2004 and SEBI regulations. IDRs must be denominated in Indian Rupees with proceeds immediately repatriated outside India. Financial companies require prior sectoral regulator approval. Foreign institutional investors and non-resident individuals may purchase IDRs using designated accounts. Limited two-way fungibility is permitted, but IDRs cannot be redeemed into underlying equity shares before one year from issue date.
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