Applicability of Indian Depository Receipts rules: most ICDR provisions apply with specified disclosure and advertising exceptions under SEBI regulations. Regulation 96 prescribes that SEBI's Chapter on IDRs applies to issues under the Companies Act and Rules, makes most ICDR provisions applicable to IDR issues while enumerating specific regulations, sub-regulations, chapters and parts that are exempt, and limits the territorial application of advertising-related sub-regulations to materials issued, published or circulated in India, leaving other advertising provisions applicable.
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Provisions expressly mentioned in the judgment/order text.
Applicability of Indian Depository Receipts rules: most ICDR provisions apply with specified disclosure and advertising exceptions under SEBI regulations.
Regulation 96 prescribes that SEBI's Chapter on IDRs applies to issues under the Companies Act and Rules, makes most ICDR provisions applicable to IDR issues while enumerating specific regulations, sub-regulations, chapters and parts that are exempt, and limits the territorial application of advertising-related sub-regulations to materials issued, published or circulated in India, leaving other advertising provisions applicable.
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