- The Ministry of Corporate Affairs (MCA) has notified the Companies (Issue of Global Depository Receipts) Rules, 2020 vide notification dated 13th February 2020 in Gazette of India.
- New proviso in rule 7 has been inserted which states that the proceeds of issue of depositories receipts may be remitted in an IFSC banking unit and utilized in accordance with the instructions issued by the EBI on time to time.
- The notification has come into force from the date of notification i.e 13th February 2020
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