https://www.taxtmi.com/acts?id=6892 An issuing company must obtain prior permission from the Department of Economic Affairs to issue Foreign Currency Convertible Bonds or ordinary shares through the Global Depositary Receipt mechanism; eligibility requires a consistent multi-year track record and final Departmental approval of the issue structure after consultation with the Lead Manager. Bonds are denominated in convertible foreign currency and shares in Indian rupees. Shares or bonds must be delivered to a Domestic Custodian Bank to enable issuance of Global Depositary Receipts by an Overseas Depositary Bank, which may be negotiable and listed abroad. Applicable capital-issue laws and required permissions or exemptions must be observed. en-us Sat, 19 Jan 2008 22:45:54 +0530 Wed, 04 Mar 2009 11:16:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=6892 An issuing company must obtain prior permission from the Department of Economic Affairs to issue Foreign Currency Convertible Bonds or ordinary shares through the Global Depositary Receipt mechanism; eligibility requires a consistent multi-year track record and final Departmental approval of the issue structure after consultation with the Lead Manager. Bonds are denominated in convertible foreign currency and shares in Indian rupees. Shares or bonds must be delivered to a Domestic Custodian Bank to enable issuance of Global Depositary Receipts by an Overseas Depositary Bank, which may be negotiable and listed abroad. Applicable capital-issue laws and required permissions or exemptions must be observed. Act-Rules Direct Taxes Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=6892