Depository receipts scheme: new rules cap foreign holdings and require Form DRR reporting after issuance. The circular implements the Depository Receipts Scheme, 2014, designating specified Schedule-listed securities as eligible for issuance/transfer to foreign depositories subject to applicable FEMA foreign holding limits; prohibits issuance of depository receipts at prices below corresponding domestic issue prices; requires compliance with FEMA conditions where issuance increases company capital; and mandates the domestic custodian to file Form DRR with the Reserve Bank within thirty days of close of the issue/programme.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Depository receipts scheme: new rules cap foreign holdings and require Form DRR reporting after issuance.
The circular implements the Depository Receipts Scheme, 2014, designating specified Schedule-listed securities as eligible for issuance/transfer to foreign depositories subject to applicable FEMA foreign holding limits; prohibits issuance of depository receipts at prices below corresponding domestic issue prices; requires compliance with FEMA conditions where issuance increases company capital; and mandates the domestic custodian to file Form DRR with the Reserve Bank within thirty days of close of the issue/programme.
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