Two way fungibility restricted: OCB participation suspended pending government review, scheme continues for other foreign investors. Two way fungibility of ADRs/GDRs is temporarily restricted for Overseas Corporate Bodies (OCBs); the Reserve Bank of India and the Government have decided to keep OCB participation on hold pending a full review, while the scheme remains operable for foreign investors other than OCBs, and market intermediaries are asked to inform their members of this restriction.
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.
Two way fungibility restricted: OCB participation suspended pending government review, scheme continues for other foreign investors.
Two way fungibility of ADRs/GDRs is temporarily restricted for Overseas Corporate Bodies (OCBs); the Reserve Bank of India and the Government have decided to keep OCB participation on hold pending a full review, while the scheme remains operable for foreign investors other than OCBs, and market intermediaries are asked to inform their members of this restriction.
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