Rights issue of IDRs restricted where issuer breaches listing or deposit agreement obligations; listing application and designated exchange required. Regulation 106B prohibits an issuer from making a rights issue of IDRs if it is in breach of ongoing material obligations under the applicable IDR Listing Agreement or the deposit agreement entered with the domestic depository at initial offering, and requires the issuer to apply to all recognised Indian stock exchanges where its IDRs are listed and to choose one as the designated stock exchange for listing the rights.