Foreign currency accounts: funds raised through ECB ADRs GDRs or international listings may be held abroad pending repatriation. Funds procured through External Commercial Borrowings, American Depository Receipts, Global Depository Receipts or by direct international listing of equity of Indian companies may, pending their utilisation in accordance with applicable rules or repatriation to India, be held in foreign currency accounts with a bank outside India, subject to compliance with the conditions governing the raising of such funds.
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.
Foreign currency accounts: funds raised through ECB ADRs GDRs or international listings may be held abroad pending repatriation.
Funds procured through External Commercial Borrowings, American Depository Receipts, Global Depository Receipts or by direct international listing of equity of Indian companies may, pending their utilisation in accordance with applicable rules or repatriation to India, be held in foreign currency accounts with a bank outside India, subject to compliance with the conditions governing the raising of such funds.
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