February 14, 2020
Summary of Notification issued by MCA on 13/02/2020
1. Companies (Issue of Global Depository Receipts) Amendment Rules, 2020
MCA vide its notification dated February 13, 2020 has amended Companies (Issue of Global Depository Receipts) Rules, 2014 to align them with Depository Receipts Scheme, 2014 as against the erstwhile Foreign Currency Convertible Bonds and Ordinary Shares (Through Depository Receipt Mechanism) Scheme, 1993.
This amendment also additionally facilitates remittance of issue proceeds in an International Financial Services Centre Banking Unit for utilisation in accordance with the instructions of the Reserve Bank of India.
The said Notification is integrated in our free-to-use website ca2013.com for your easy reference.
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