| Date: |
26-09-2000
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| Notification No: |
RBI A P D (Series)Circular No 14/2000
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| Issuing Authority: |
RBI
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| Type: |
A.P.D.(Series) Circulars
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| File No: |
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| Subject: |
Details of GDR/ ADR issue launched
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Details of GDR/ ADR issue launched
Attention
of authorised dealers is invited to Reserve Bank Notification No. FEMA-20/
2000-RB dated 3rd May 2000. In terms of paragraphs 4(2) and (3) of
Schedule I to the above Notification, Indian companies issuing ADRs/ GDRs shall
furnish to Reserve Bank full details of such issue in the form specified in
Annexure �C� within 30 days from the date of closing of the issue and a
quarterly return in the form specified in Annexure �D� within fifteen days
from the close of the calendar quarter, respectively. However, it is observed
that some of the companies are not submitting Annexures �C� and �D�
within the stipulated time.
2.
Authorised dealers may advise their constituents who have issued ADRs/
GDRs or who are going for ADR/ GDR issues to submit Annexures �C� and
�D� within the stipulated time.
3.
The directions contained in this circular have been issued under Section
10(4) and section 11(1) of the Foreign Exchange Management Act, 1999 (42 of
1999) and any contravention or non-observance thereof is subject to the
penalties prescribed under the Act.
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