Govt amends rules for IDR conversion into shares

0Shares

New Delhi – Government has amended the rules governing Indian Depository Receipts issued here by foreign companies, after financial regulators RBI and Sebi allowed part-conversion of securities into equity shares by investors.

The amendment, notified by the Ministry of Corporate Affairs (MCA) in the Companies (Issue of Indian Depository Receipts) Rules, have come into effect from October 1, as per a ministry notification.

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