Companies Act

Section 390. Offer Of India Depository Receipts

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

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(a) the offer of Indian Depository Receipts;

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

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

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

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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.

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