Reporting obligations for ADR/GDR issuers under FEMA: mandatory filings and penalties apply for non-compliance enforced by regulators. Issuers of ADRs/GDRs must file Annexure C within thirty days of issue closing and a quarterly Annexure D within fifteen days of quarter end; authorised dealers must advise constituents to comply, and failure to observe these reporting requirements attracts penalties under the foreign exchange law.
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Provisions expressly mentioned in the judgment/order text.
Reporting obligations for ADR/GDR issuers under FEMA: mandatory filings and penalties apply for non-compliance enforced by regulators.
Issuers of ADRs/GDRs must file Annexure C within thirty days of issue closing and a quarterly Annexure D within fifteen days of quarter end; authorised dealers must advise constituents to comply, and failure to observe these reporting requirements attracts penalties under the foreign exchange law.
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