TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>RBI Issues Guidelines for ADR/GDR Sponsorship by Indian Firms, Emphasizing Compliance with SEBI Takeover Code and FDI Policies.</h1> The circular issued by the Reserve Bank of India outlines guidelines for Indian companies sponsoring American Depository Receipts (ADRs), Global Depository Receipts (GDRs), and Foreign Currency Convertible Bonds (FCCBs). Indian companies can sponsor ADR/GDR issues against shares held by shareholders, adhering to the 1993 scheme and government guidelines. The circular provides detailed guidelines on the divestment process, shareholder equity, and regulatory compliance, including approvals from the Foreign Investment Promotion Board (FIPB) and adherence to the SEBI Takeover Code. It also addresses the use of ADR/GDR proceeds in the disinvestment of public sector undertakings (PSUs), emphasizing strategic importance and compliance with foreign direct investment (FDI) policies.
TaxTMI 
TaxTMI 
