Section 1 in Permission to issue Global Depository Receipts/American Depository Receipts
1.
(a)a company incorporated in India which fulfils the eligibility criteria laid down in para 2,(i)to make an international offering of Rupee denominated equity shares of the company by way of issue of Global Depositary Receipts (GDRs)/American Depositary Receipts (ADRs) to persons resident outside India,(ii)to export the said securities to investors outside India and(b)the investors to acquire the securities so purchased.
