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The Companies Act, 2013

Chapter XXII - Companies Incorporated Outside India (379 - 393)

Section 390- Offer of Indian Depository Receipts.

[Notification Date: 26.03.2014; Effective from: 01.04.2014]

Section 390- Offer of Indian Depository Receipts. [Corresponds to Section 605A of the Companies Act, 1956]; [Relevant Rule: 13 of The Companies (Registration of Foreign Companies) Rules, 2014]

Notwithstanding anything contained in any other law for the time being in force, the Central Government may make rules - [Rule 13] applicable for—

(a) the offer of Indian Depository Receipts;

(b) the requirement of disclosures in prospectus or letter of offer issued in connection with Indian Depository Receipts;

(c) the manner in which the Indian Depository Receipts shall be dealt with in a depository mode and by custodian and underwriters; and

(d) the manner of sale, transfer or transmission of Indian Depository Receipts,

by a company incorporated or to be incorporated outside India, whether the company has or has not established, or will or will not establish, any place of business in India.