https://www.taxtmi.com/acts?id=6896 Ordinary shares and Foreign Currency Convertible Bonds issued against Global Depositary Receipts are treated as direct foreign investment; the aggregate of foreign investment made directly or indirectly through the Global Depositary Receipts mechanism shall not exceed a majority of the issued and subscribed capital of the issuing company, with investments through Offshore Funds and by Foreign Institutional Investors excluded from this limit. en-us Sat, 19 Jan 2008 22:45:54 +0530 Wed, 04 Mar 2009 11:50:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=6896 Ordinary shares and Foreign Currency Convertible Bonds issued against Global Depositary Receipts are treated as direct foreign investment; the aggregate of foreign investment made directly or indirectly through the Global Depositary Receipts mechanism shall not exceed a majority of the issued and subscribed capital of the issuing company, with investments through Offshore Funds and by Foreign Institutional Investors excluded from this limit. Act-Rules Direct Taxes Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=6896