https://www.taxtmi.com/circulars?id=1959 Indian issuers of ADRs/GDRs may retain proceeds abroad to meet future forex needs and may invest those funds in deposits or certificates of deposit with banks rated not less than AA(-)/Aa3, deposits with branches outside India of authorised dealers, and treasury bills and monetary instruments of up to one year maturity meeting the same rating criteria; corporates must report details in soft copy to the Chief General Manager, Exchange Control Department within 30 days of issue closure. en-us Mon, 13 Jan 2003 00:00:00 +0530 Fri, 10 Oct 2008 17:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=1959 Indian issuers of ADRs/GDRs may retain proceeds abroad to meet future forex needs and may invest those funds in deposits or certificates of deposit with banks rated not less than AA(-)/Aa3, deposits with branches outside India of authorised dealers, and treasury bills and monetary instruments of up to one year maturity meeting the same rating criteria; corporates must report details in soft copy to the Chief General Manager, Exchange Control Department within 30 days of issue closure. Circulars FEMA Mon, 13 Jan 2003 00:00:00 +0530 https://www.taxtmi.com/circulars?id=1959