https://www.taxtmi.com/acts?id=6903 The scheme exempts holding and transfer of Global Depositary Receipts and the fiduciary holding of underlying shares by the Overseas Depositary Bank from wealth tax and gift tax. Companies seeking permission to float Global Issues must file detailed corporate, financial and foreign exchange information. Governmental approval in principle is conditional on immediate remittance of foreign currency proceeds to India, is time limited, and requires submission of final offering parameters for final approval. Final approvals specify detailed operative terms for FCCBs and GDRs, including issue structure, pricing, conversion, listing, taxation and governing law. en-us Sat, 19 Jan 2008 22:45:54 +0530 Fri, 06 Mar 2009 10:17:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=6903 The scheme exempts holding and transfer of Global Depositary Receipts and the fiduciary holding of underlying shares by the Overseas Depositary Bank from wealth tax and gift tax. Companies seeking permission to float Global Issues must file detailed corporate, financial and foreign exchange information. Governmental approval in principle is conditional on immediate remittance of foreign currency proceeds to India, is time limited, and requires submission of final offering parameters for final approval. Final approvals specify detailed operative terms for FCCBs and GDRs, including issue structure, pricing, conversion, listing, taxation and governing law. Act-Rules Direct Taxes Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=6903