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Global depository receipts
Can someone please explain what is Global Depository receipt in simple terms and how it works,i am finding it difficult to understand the procedure of issuing GDR in india u/s 41 of companies act 2013.pls dont use law language as i am an ipcc student(beginner) and want to understand.
Replies (3)
Indian company giving shares to foreign people to raise money...((((( Indian company shares will be kept in domestic custodian... Who will act as agent to foreign depository. Foreign depository will issue depository receipts against shares held by custodian... To foreign people)))
DR's given by Foreign depository is know as GDR/ADR. DR's are Trading instruments like share warrents OK...((negotiable instruments.).DR holder is not registered as member(share holder) in Indian company's register of members..
thank u sir
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