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of <h1>Amendment to Rule 10: New Procedures for Transfer and Redemption of Indian Depository Receipts Now in Effect.</h1> The Companies (Issue of Indian Depository Receipts) Amendment Rules, 2012, amends Rule 10 of the 2004 Rules regarding the procedure for transfer and redemption of Indian Depository Receipts (IDRs). The amendment allows IDR holders to transfer or redeem their IDRs and permits reissuance through conversion of underlying equity shares. These actions are subject to compliance with the Foreign Exchange Management Act, 1999, the Securities and Exchange Board of India Act, 1992, and other relevant laws and regulations. The amendment takes effect from the date of its publication in the Official Gazette.
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