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ADR/GDR guideline alignment with domestic capital norms updates issuance and compliance requirements for FCCBs and depository receipts. Amendment aligns the ADR/GDR guidelines under the Foreign Currency Convertible Bonds and Ordinary Shares (Through Depositary Receipt Mechanism) Scheme, 1993 with domestic capital-issue norms framed by SEBI, refers to the Government press note and notification implementing those changes, and notes that consequential amendments to FEMA transfer/issue of securities rules will follow; Authorised Dealer banks must inform constituents and the directions are issued under FEMA powers.
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ADR/GDR guideline alignment with domestic capital norms updates issuance and compliance requirements for FCCBs and depository receipts.
Amendment aligns the ADR/GDR guidelines under the Foreign Currency Convertible Bonds and Ordinary Shares (Through Depositary Receipt Mechanism) Scheme, 1993 with domestic capital-issue norms framed by SEBI, refers to the Government press note and notification implementing those changes, and notes that consequential amendments to FEMA transfer/issue of securities rules will follow; Authorised Dealer banks must inform constituents and the directions are issued under FEMA powers.
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