https://www.taxtmi.com/acts?id=2403 An Indian party may acquire foreign company shares by exchanging ADRs/GDRs issued under the 1993 depository receipt scheme, provided the Indian party's ADRs/GDRs are listed abroad, the issue is backed by fresh equity, post-issue non-resident holding complies with the sectoral cap, and the investment does not exceed the higher of the amount equivalent of US$ 100 mn or ten times the party's prior-year export earnings; valuation rules and Form ODG reporting to the Reserve Bank within 30 days apply. en-us Sat, 19 Jan 2008 22:45:54 +0530 Wed, 25 Jun 2025 14:27:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=2403 An Indian party may acquire foreign company shares by exchanging ADRs/GDRs issued under the 1993 depository receipt scheme, provided the Indian party's ADRs/GDRs are listed abroad, the issue is backed by fresh equity, post-issue non-resident holding complies with the sectoral cap, and the investment does not exceed the higher of the amount equivalent of US$ 100 mn or ten times the party's prior-year export earnings; valuation rules and Form ODG reporting to the Reserve Bank within 30 days apply. Act-Rules FEMA Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=2403