https://www.taxtmi.com/notifications?id=116849 Issuance of depository receipts abroad is permitted where companies meet eligibility under the foreign currency convertible scheme and foreign exchange rules, obtain board and shareholder approval by special resolution, appoint an overseas depository and a domestic custodian for underlying shares, and engage a specified professional to oversee compliance with Reserve Bank guidelines; holders vote only upon conversion while the overseas depository votes pre-conversion under the governing agreement, proceeds must be deposited with qualifying banks and certain domestic public issue and prospectus requirements do not apply to such overseas issues. en-us Mon, 31 Mar 2014 00:00:00 +0530 Sat, 19 Jul 2014 16:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=116849 Issuance of depository receipts abroad is permitted where companies meet eligibility under the foreign currency convertible scheme and foreign exchange rules, obtain board and shareholder approval by special resolution, appoint an overseas depository and a domestic custodian for underlying shares, and engage a specified professional to oversee compliance with Reserve Bank guidelines; holders vote only upon conversion while the overseas depository votes pre-conversion under the governing agreement, proceeds must be deposited with qualifying banks and certain domestic public issue and prospectus requirements do not apply to such overseas issues. Notifications Companies Law Mon, 31 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/notifications?id=116849