Eligibility conditions for IDR issuance require home-country listing, market compliance, promoter fitness, and prescribed issue safeguards. Issuance of Indian Depository Receipts is permitted only where the issuer meets home-country listing and regulatory compliance criteria, none of its promoters or directors is a fugitive economic offender, and specified operational conditions apply. These include a minimum issue size, single denomination of IDRs, prior listing of underlying shares in the home country with pari passu rights, in-principle listing application and designated stock exchange, a depository dematerialisation agreement, verified financing arrangements for the project portion funded from proceeds, and a cap on amounts for general corporate purposes.
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Provisions expressly mentioned in the judgment/order text.
Eligibility conditions for IDR issuance require home-country listing, market compliance, promoter fitness, and prescribed issue safeguards.
Issuance of Indian Depository Receipts is permitted only where the issuer meets home-country listing and regulatory compliance criteria, none of its promoters or directors is a fugitive economic offender, and specified operational conditions apply. These include a minimum issue size, single denomination of IDRs, prior listing of underlying shares in the home country with pari passu rights, in-principle listing application and designated stock exchange, a depository dematerialisation agreement, verified financing arrangements for the project portion funded from proceeds, and a cap on amounts for general corporate purposes.
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