Depository receipts eligibility: issuers and holders may transfer permissible securities to foreign depositories, subject to market access restrictions. Eligibility to issue or transfer depository receipts is limited to persons not prohibited from market access, including any Indian company (listed or unlisted, private or public), other issuers of permissible securities, and holders of permissible securities. Unsponsored depository receipts backed by listed permissible securities require that holders have the right to issue voting instructions and that those receipts be listed on an international exchange.
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.
Depository receipts eligibility: issuers and holders may transfer permissible securities to foreign depositories, subject to market access restrictions.
Eligibility to issue or transfer depository receipts is limited to persons not prohibited from market access, including any Indian company (listed or unlisted, private or public), other issuers of permissible securities, and holders of permissible securities. Unsponsored depository receipts backed by listed permissible securities require that holders have the right to issue voting instructions and that those receipts be listed on an international exchange.
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