Section 5

Companies (Issue of Global Depositories Receipts) Rules, 2014Central Rules · 1992

(1) The depository receipts can be issued by way of public offering or private placement or in any other manner prevalent abroad and may be listed or traded in an overseas listing or trading platform.

(2) The depository receipts may be issued against issue of new shares or may be sponsored against shares held by shareholders of the company in accordance with such conditions as the Central Government or Reserve Bank of India may prescribe or specify from time to time.

(3) The underlying shares shall be allotted in the name of the overseas depository bank and against such shares, the depository receipts shall be issued by the overseas depository bank abroad.

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Where this provision sits

Act	Companies (Issue of Global Depositories Receipts) Rules, 2014
Section	5
Jurisdiction	Central
Status	In force as published by the source

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