https://www.taxtmi.com/circulars?id=64613 SEBI clarifies that permissible holders of Depository Receipts must be non residents and not NRIs, but creates exceptions allowing NRIs to hold DRs issued under share based employee benefit schemes and to receive DRs via bonus or rights issues. Beneficial Owner retains the Prevention of Money Laundering Rules definition, and both permissible holders and beneficial owners remain responsible for compliance. Listed companies must identify NRI DR holders under employee schemes and provide that information to the designated depository for monitoring; exchanges and depositories must amend rules and notify market participants. en-us Fri, 18 Dec 2020 00:00:00 +0530 Fri, 18 Dec 2020 17:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=64613 SEBI clarifies that permissible holders of Depository Receipts must be non residents and not NRIs, but creates exceptions allowing NRIs to hold DRs issued under share based employee benefit schemes and to receive DRs via bonus or rights issues. Beneficial Owner retains the Prevention of Money Laundering Rules definition, and both permissible holders and beneficial owners remain responsible for compliance. Listed companies must identify NRI DR holders under employee schemes and provide that information to the designated depository for monitoring; exchanges and depositories must amend rules and notify market participants. Circulars SEBI Fri, 18 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/circulars?id=64613