https://www.taxtmi.com/circulars?id=1864 Two-way fungibility of ADRs/GDRs is authorised under the foreign exchange framework, permitting conversion between Indian equity and depository receipts subject to the Issue of Foreign Currency Convertible Bonds and Ordinary Shares (Through Depository Receipt Mechanism) Scheme, 1993 and related Central Government guidelines; RBI issued operative guidelines implementing a limited two-way fungibility mechanism and confirmed the notifications provide the statutory basis, directing authorised dealers to inform constituents and relying on powers under the Foreign Exchange Management Act. en-us Wed, 13 Feb 2002 00:00:00 +0530 Fri, 03 Oct 2008 13:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=1864 Two-way fungibility of ADRs/GDRs is authorised under the foreign exchange framework, permitting conversion between Indian equity and depository receipts subject to the Issue of Foreign Currency Convertible Bonds and Ordinary Shares (Through Depository Receipt Mechanism) Scheme, 1993 and related Central Government guidelines; RBI issued operative guidelines implementing a limited two-way fungibility mechanism and confirmed the notifications provide the statutory basis, directing authorised dealers to inform constituents and relying on powers under the Foreign Exchange Management Act. Circulars FEMA Wed, 13 Feb 2002 00:00:00 +0530 https://www.taxtmi.com/circulars?id=1864