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MCA notifies Cos. (Issue of Global Depository Receipts) Amendment Rules, 2020

February 14, 2020
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The Ministry of Corporate Affairs (MCA) has notified the Companies (Issue of Global Depository Receipts) Rules, 2020 wherein 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.
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