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Retention of Proceeds of ADRs/GDRs abroad

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Full Text of the Document

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.... is invited to Clause (4) of Regulation 4 of Schedule I to Notification No.FEMA.20/2000-RB dated May 3, 2000, in terms of which, Indian companies issuing shares to overseas depository for the purpose of issuing ADRs/GDRs are permitted to invest funds abroad for a temporary period pending repatriation to India, subject to the conditions stipulated therein. 2. It has now been decided that Indian co....

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