Rule 8 - Conditions for the issue of prospectus and application. - Companies (Issue of Indian Depository Receipts) Rules, 2004

Conditions for the issue of prospectus and application. 08. (i) No application form for the securities of the issuing company shall be issued unless the form is accompanied by a memorandum containing the salient features of prospectus in the specified form. (ii) An application form can be issued without the memorandum as specified in clause (i) above if it is issued in connection with an invitation to enter into an underwriting agreement with respect to the IDRs. (iii) The prospectus for subscription of IDRs of the issuing company which includes a statement purporting to be made by an expert shall not be circulated, issued or distributed in India or abroad unless a statement that the expert has given his written consent to the issue thereof and has not withdrawn such consent before the delivery of a copy of the prospectus to the SEBI and Registrar of Companies, New Delhi, appears on the prospectus. (iv) The person(s) responsible for issue of the prospectus shall not incur any liability by reason of any non-compliance with or contravention of any provision of this rule, if (a) as regards any matter not disclosed, he proves that he had no knowledge thereof; or (b) the contravention arose in respect of such matters which in the opinion of the Central Government were not material.