Short Title and Commencement (1) These rules may be called the Companies (Share Capital and Debentures) Rules, 2014. (2) They shall come into force on the 1st day of April, 2014. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return […]

Non Applicability of Certain Provisions of the Act (1) The provisions of the Act and any rules issued thereunder insofar as they relate to public issue of shares or debentures shall not apply to issue of depository receipts 1[abroad]. (2) The offer document, by whatever name called and if prepared for the issue of depository receipts, shall not

Depository Receipts Prior to Commencement (1) A company which has issued depository receipts prior to commencement of these rules shall comply with the requirements under this rule within six months of such commencement. (2) Any issue of depository receipts after six months of commencement of these rules shall be in accordance with the requirements of

Proceeds of Issue The proceeds of issues of depository receipts shall either be remitted to a bank account in India or deposited in an Indian bank operating abroad or any foreign bank (which is a Scheduled Bank under the Reserve Bank of India Act, 1934) having operations in India with an agreement that the foreign

Voting Rights (1) A holder of depository receipts may become a member of the company and shall be entitled to vote as such only on conversion of the depository receipts into underlying shares after following the procedure provided in the Scheme and the provisions of this Act. (2) Until the conversion of depository receipts, the overseas depository shall be entitled

Manner and Form of Depository Receipts [(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.] (2) The depository receipts may be issued against

Conditions for Issue of Depository Receipts (1) The Board of Directors of the company intending to issue depository receipts shall pass a resolution authorising the company to do so. (2) The company shall take prior approval of its shareholders by a special resolution to be passed at a general meeting: Provided that a special resolution

Eligibility to Issue Depository Receipts A company may issue depository receipts provided it is eligible to do so in terms of the Scheme and relevant provisions of the Foreign Exchange Management Rules and Regulations. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST

Definitions (1) In these Rules, unless the context otherwise requires, — (a) “Act” means the Companies Act, 2013 (18 of 2013); 2[(aa) “overseas depository” or “overseas depository bank” shall mean ‘foreign depository’ as defined in the Scheme.] (b) “Section” means section of the Act; (c) “Scheme” means the 1[Depository Receipts Scheme,2014] or any modification or re-enactment thereof; (2) Words and expressions

Short Title and Commencement To be Published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-Section (i)] Government of India Ministry of Corporate Affairs New Delhi, the 31st March, 2014 G.S.R. 252(E).- In exercise of the powers conferred by section 41 read with 469 of the Companies Act, 2013, the Central Government hereby makes the following rules,