https://www.taxtmi.com/circulars?id=7305 Foreign companies resident outside India may issue Indian Depository Receipts (IDRs) through a Domestic Depository subject to Companies (Issue of Depository Receipts) Rules, 2004 and SEBI (DIP) Guidelines; IDRs must be denominated in Indian Rupees, proceeds immediately repatriated, automatic fungibility is not permitted, and IDRs cannot be redeemed into underlying equity before one year. Investor participation rules specify FEMA-based conditions for residents, FIIs and NRIs, and redemption/conversion requires compliance with FEMA (Transfer or Issue of Any Foreign Security) Regulations, 2004, including limited holding periods for resident individuals and specified treatment for listed companies and mutual funds. en-us Wed, 22 Jul 2009 00:00:00 +0530 Fri, 30 Oct 2009 16:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=7305 Foreign companies resident outside India may issue Indian Depository Receipts (IDRs) through a Domestic Depository subject to Companies (Issue of Depository Receipts) Rules, 2004 and SEBI (DIP) Guidelines; IDRs must be denominated in Indian Rupees, proceeds immediately repatriated, automatic fungibility is not permitted, and IDRs cannot be redeemed into underlying equity before one year. Investor participation rules specify FEMA-based conditions for residents, FIIs and NRIs, and redemption/conversion requires compliance with FEMA (Transfer or Issue of Any Foreign Security) Regulations, 2004, including limited holding periods for resident individuals and specified treatment for listed companies and mutual funds. Circulars FEMA Wed, 22 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/circulars?id=7305