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of <h1>Listed Entities Must Quarterly Report IDR Holdings, Governance, and Fungibility Compliance per New Circular Requirements.</h1> The circular outlines the requirements for listed entities regarding the quarterly reporting of Indian Depository Receipts (IDRs) holding patterns, corporate governance disclosures, and compliance with two-way fungibility of IDRs. Entities must submit IDR holding patterns to stock exchanges quarterly and provide a comparative analysis of corporate governance practices across jurisdictions. The circular also mandates disclosure of this information on the entity's website. Two-way fungibility guidelines allow IDRs to be converted into underlying equity shares and vice versa, with specific procedures and timelines detailed for both new and existing IDR issuances. Compliance with these regulations is required within 90 days from the notification date.
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