Issue of Indian Depository Receipts (IDRs) - Limited two way fungibilty.

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.... A.P. (DIR Series) Circular No.5 dated July 22, 2009, in terms of which, the guidelines regarding issue of IDRs by eligible companies resident outside India have been laid out. 2. It has now been decided to allow a limited two way fungibility for IDRs (similar to the limited two way fungibility facility available for ADRs/GDRs) subject to the following terms and conditions: i. The conversion of ....

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.... redemption and fungibilityof IDRs would also be subject to the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended from time to time as well as other relevant guidelines issued in this regard by the Government, the SEBI and the RBI from time to time. 4.AD Category - I banks may bring the contents of the circular to the notice of their customers/constituents concerne....