https://www.taxtmi.com/acts?id=18482 Proceeds of issue of Global Depository Receipts must be remitted to an Indian bank account, deposited with an Indian bank operating abroad, or with a foreign scheduled bank having operations in India that agrees to furnish required information; for sponsored issues, sale proceeds are to be credited to shareholders' bank accounts. Proceeds may alternatively be remitted to an International Financial Services Centre Banking Unit and used according to monetary regulator instructions. en-us Tue, 01 Apr 2014 12:29:01 +0530 Thu, 19 Feb 2026 14:29:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=18482 Proceeds of issue of Global Depository Receipts must be remitted to an Indian bank account, deposited with an Indian bank operating abroad, or with a foreign scheduled bank having operations in India that agrees to furnish required information; for sponsored issues, sale proceeds are to be credited to shareholders' bank accounts. Proceeds may alternatively be remitted to an International Financial Services Centre Banking Unit and used according to monetary regulator instructions. Act-Rules Companies Law Tue, 01 Apr 2014 12:29:01 +0530 https://www.taxtmi.com/acts?id=18482