Investment in a Foreign Security by Swap or Exchange of Shares of an Indian Company https://www.taxtmi.com/acts?id=2094 Acquisition of foreign company shares by an Indian party through exchange of ADRs/GDRs was permitted under Regulation 8 subject to eligibility, sectoral cap compliance, backing by fresh equity, prescribed valuation methods (investment banker recommendation for unlisted shares or three month average market capitalization plus any recommended premium for listed shares) and a reporting obligation to the Reserve Bank within thirty days of the ADR/GDR issue. en-us Sat, 19 Jan 2008 22:45:54 +0530 Fri, 20 Jun 2025 10:51:44 +0530 TaxTMI RSS Generator Investment in a Foreign Security by Swap or Exchange of Shares of an Indian Company https://www.taxtmi.com/acts?id=2094 Acquisition of foreign company shares by an Indian party through exchange of ADRs/GDRs was permitted under Regulation 8 subject to eligibility, sectoral cap compliance, backing by fresh equity, prescribed valuation methods (investment banker recommendation for unlisted shares or three month average market capitalization plus any recommended premium for listed shares) and a reporting obligation to the Reserve Bank within thirty days of the ADR/GDR issue. Act-Rules FEMA Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=2094