Amendment of the existing policy on issue of shares by unlisted Indian Companies under FCCB/ADR/GDR, pursuant to the Foreign Currency Convertible Bonds and Ordinary shares (Through Depository Receipt Mechanism) (Amendment) Scheme, 2013.

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....rce and Industry Department of Industrial Policy & Promotion  Press Note No. 7 (2013 Series) Subject:- Amendment of the existing policy on issue of shares by unlisted Indian Companies under FCCB/ADR/GDR, pursuant to the Foreign Currency Convertible Bonds and Ordinary shares (Through Depository Receipt Mechanism) (Amendment) Scheme, 2013. 1.0     Present Positio....

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.... have to be kept abroad till actually required in India. Pending repatriation or utilization of the proceeds, the Indian company can invest the funds in:- (a) Deposits, Certificate of Deposits or other instruments offered by banks rated by Standard and Poor, Fitch, IBCA, Moody's etc. with rating not below the rating stipulated by Reserve Bank from time to time for the purpose; (b) Deposits w....

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.... of prior or subsequent listing in India initially for a period for two years subject to the following conditions: (a) Unlisted companies shall list abroad only on exchanges in IOSCO/FATF compliant jurisdictions or those jurisdictions with which SEBI has signed bilateral agreements; (b) The Companies shall file a copy of the return which they submit to the proposed exchange/regulators also t....