https://www.taxtmi.com/circulars?id=1945 Sponsored issues of ADRs/GDRs/FCCBs against existing shares are permitted for divestment, subject to compliance with depository receipt scheme rules and government guidelines; companies must offer the facility pari-passu, secure a special resolution, repatriate proceeds within one month, limit escrow retention to three months, treat tranches as separate transactions, furnish full particulars to the Exchange Control Department within 30 days, and obtain required approvals including FIPB clearance where foreign equity induction occurs. en-us Sat, 23 Nov 2002 00:00:00 +0530 Fri, 03 Oct 2008 15:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=1945 Sponsored issues of ADRs/GDRs/FCCBs against existing shares are permitted for divestment, subject to compliance with depository receipt scheme rules and government guidelines; companies must offer the facility pari-passu, secure a special resolution, repatriate proceeds within one month, limit escrow retention to three months, treat tranches as separate transactions, furnish full particulars to the Exchange Control Department within 30 days, and obtain required approvals including FIPB clearance where foreign equity induction occurs. Circulars FEMA Sat, 23 Nov 2002 00:00:00 +0530 https://www.taxtmi.com/circulars?id=1945