Ammendment to Companies (Issue of Global Depository Receipts) Rules, 2014

flo be published in the Gazette of India Extraordinary, Part II, Section 3, Sub-section (01 Government of India Ministry of Corporate Affairs Notification New Delhi, the l3 febr uary,2020 G.S.R. _ (E).- In exercise of the powers conferred by section 41 read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules to amend the Companies (Issue of Global Depository Receipts) Rules, 2014, namely:-

1. Short title and commencement.- (1) These rules may be called the Companies (Issue of Global Depository Receipts) Amendment Rules, 2020. (2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Companies (Issue of Global Depository Receipts) Rules, 2014 (hereinafter referred to as the said rules), in rule Z- (i) for the words, brackets and figures "Foreign Currency Convertible Bonds and Ordinary Shares (Through Depository Receipt Mechanism) Scheme, 1993" at both the places where they occur, the words and figures "Depository Receipts Scheme,2014" shall be substituted; (ii) in sub-rule (1), after clause (a), the following clause shall be inserted, namely:- '(aa) "overseas depository" or "overseas depository bank" shall mean 'foreign depository' as defined in the Scheme.'.

b-rule (1), after clause (a), the following clause shall be inserted, namely:- '(aa) "overseas depository" or "overseas depository bank" shall mean 'foreign depository' as defined in the Scheme.'. 3. In the said rules, in rule 5,- (i) for sub-rule (1), the following sub.rule shall be substituted, namely:- "(1) The depository receipts can be issued by way of public offering or private placement or in any other manner prevalent in the concerned jurisdiction and may be listed or traded on the listing or hading platform in the concerned jurisdiction.";

(ii) in sub-rule (3), the word " abroad" shall be omitted. 4. In the said rules, in rule Z the following proviso shall be inserted, namelyi "Provided that proceeds of issue of depository receipts may be remitted in an Intemational Financial Services Cenhe Banking Unit (IBU) and utilised in accordance with the instructions issued bv the Reserve Bank of India from time to time.". 5. In the said rules, in rule 9, in sub-rule (1), the word " abtoad" shall be omitted. [File No. | / 21. / 2o13CL-v -part] tA^ rr.vdilffif*l's- Joint Seoetary to the Government of India Note: - The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide notification number G.S.R. 252(E), dated the 31.t March, 201.4.

t of India Note: - The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide notification number G.S.R. 252(E), dated the 31.t March, 201.4.

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