MINISTRY OF FINANCE
(Department of Company Affairs)
NOTIFICATION

New Delhi, the 23rd February, 2004

G.S.R 131(E).—In exercise of powers conferred by clause (a) of sub-section (1) of section 642 read with section 605A of the Companies Act, 1956, the Central Government hereby makes the following rules, namely :-

1. Short Title and Commencement .‑

(i) These Rules may be called the Companies (Issue of Indian Depository Receipts) Rules, 2004.

(ii) They shall come into force from the date of their notification in the Official Gazette.

2. Applicability .‑

These rules shall apply only to those companies incorporated outside India, whether they have or have not established any place of business in India.

3. Definitions .-

(a) “Chief Accounts Officer” means the chief accounts and financial officer of a company, by whatever name known;

(b) “Depository” means a depository as defined in clause (e) of sub-section (1) of section 2 of Depositories Act, 1996;

(c) “Domestic Depository” means custodian of securities registered with the Securities and Exchange Board of India, hereinafter referred to as SEBI and authorised by the issuing company to issue Indian Depository Receipts;

(d) “Indian Depository Receipt” (hereinafter referred to as “IDR”) means any

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