Saturday, April 14, 2007

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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