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.'.

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.
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