Amendment in paragraph 5 - GSR 671(E) - Foreign Exchange Management

Notification Dated : 17-11-2005 GSR 671(E) - Central Government hereby amend the Foreign Currency Convertible Bonds and Ordinary Shares (Through Depository Receipt Mechanism) Scheme, 1993 , namely:- (3) This Scheme may be called the issue of Foreign Currency Convertible Bonds and Ordinary Shares (Through Depository Receipt Mechanism) (Amendment) Scheme, 2005. (4) The Scheme shall be deemed to have come into force from the date of publication of Notification; and (5) In the Foreign Currency Convertible Bonds and Ordinary Shares (Through Depository Receipt Mechanism) Scheme, 1993 ; After paragraph 5, sub-paragraph 4(cb), the following sub-paragraph shall be inserted; namely:- 5(4)(cc). The companies going in for an offering in the domestic market and a simultaneous or immediate following on offering (within 30 days of domestic issue) through ADR/GDR issues wherein GDRs/ADRs are priced at or above. The domestic price, would be exempt from the requirement given at (ca)(i) and (ii) above. Companies going for such simultaneous or immediate follow on offering in the ADR/GDR market will have to take SEBI s approval for such issue, which will specify the percentage to be offered in the domestic and ADR/GDR markets.