https://www.taxtmi.com/circulars?id=10188 A non resident holder of Global Depository Receipts is not a member of the issuing company because they are neither subscriber nor registered holder; the Overseas Depository Bank is not the statutory depository and cannot be deemed a member. Membership arises only upon conversion or redemption of GDRs into underlying equity shares and completion of the Scheme's and Companies Act procedures; until conversion the Overseas Depository Bank's name appears in the Register as legal allottee but is not a nominee of the GDR holder for membership purposes. en-us Tue, 16 Jun 2009 00:00:00 +0530 Sat, 11 Jun 2011 13:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=10188 A non resident holder of Global Depository Receipts is not a member of the issuing company because they are neither subscriber nor registered holder; the Overseas Depository Bank is not the statutory depository and cannot be deemed a member. Membership arises only upon conversion or redemption of GDRs into underlying equity shares and completion of the Scheme's and Companies Act procedures; until conversion the Overseas Depository Bank's name appears in the Register as legal allottee but is not a nominee of the GDR holder for membership purposes. Circulars Companies Law Tue, 16 Jun 2009 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10188