GOVT. TO CHANGE NORMS FOR IDRs
On advice from SEBI, the Government
announced plans to change the eligibility
criteria for foreign companies to issue
Indian Depository Receipts (IDRs)
and raise funds from the capital market
in India. The government has invited
suggestion from ICAI and others to take
a final view on the matters. A relation in
these norms is being shot with a view to
attract foreign companies to list in India.
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