Companies Act

Section 390. Offer Of India Depository Receipts

Companies Act, 2013

Notwithstanding anything contained in any other law for the time being in force, the Central Government may make rules applicable for–

(a) the offer of Indian Depository Receipts;

(b) the requirement of disclosures in prospectus or letter of offer issued in connection with Indian Depository Receipts;

(c) the manner in which the Indian Depository Receipts shall be dealt with in a depository mode and by custodian and underwriters; and

(d) the manner of sale, transfer or transmission of Indian Depository Receipts,

by a company incorporated or to be incorporated outside India, whether the company has or has not established, or will or will not establish, any place of business in India.

READ  Section 242. Powers Of Tribunal

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