Government Accepts the Report of the Committee Constituted to Review the Issue of Foreign Currency Convertible Bonds and Ordinary Shares (Through Depository Receipt Mechanism) Scheme 1993

Government Accepts the Report of the Committee Constituted to Review the Issue of Foreign Currency Convertible Bonds and Ordinary Shares (Through Depository Receipt Mechanism) Scheme 1993 https://www.taxtmi.com/news?id=12697 The Government accepted a committee report proposing a revised framework for Depository Receipts allowing issuance against any underlying securities (equity or debt) by any issuer (listed or unlisted), for fresh capital or existing/secondary securities, and either sponsored or unsponsored; Depository Receipts with voting rights will count towards public shareholding. FCCBs remain governed by the existing scheme until further notification and the new scheme will be notified after required tax amendments. en-us Tue, 13 May 2014 15:57:57 +0530 Tue, 13 May 2014 15:57:57 +0530 TaxTMI RSS Generator Government Accepts the Report of the Committee Constituted to Review the Issue of Foreign Currency Convertible Bonds and Ordinary Shares (Through Depository Receipt Mechanism) Scheme 1993 https://www.taxtmi.com/news?id=12697 The Government accepted a committee report proposing a revised framework for Depository Receipts allowing issuance against any underlying securities (equity or debt) by any issuer (listed or unlisted), for fresh capital or existing/secondary securities, and either sponsored or unsponsored; Depository Receipts with voting rights will count towards public shareholding. FCCBs remain governed by the existing scheme until further notification and the new scheme will be notified after required tax amendments. News - Tue, 13 May 2014 15:57:57 +0530 https://www.taxtmi.com/news?id=12697