Ppt on adr and gdr in india

Fundamentals of Capital Market. What is a share / stock? A type of security that signifies ownership in a corporation and represents a claim on part.

at a glance An Indian company can raise foreign currency resources overseas through ADRs or GDRs Foreign Institutional Investors are allowed to invest in India under the Foreign Institutional Investment scheme Portfolio investment limits in individual companies can be raised by Board resolution keeping the overall sect oral cap in view Indian Economy and Capital Market at a glance Investments can be made through foreign venture capital/


Company Overview  India’s largest paint company and Asia’s third largest paint company  Turnover of Rs 96.32 billion.  Asian Paints operates in 17.

integrate all its plants, regional distribution centres, outside processing centres and branches in India. - All the companys paints plants in India, two chemical plants, 18 processing centres, 350 raw material and intermediate goods suppliers, 140 packing material vendors, 6 regional / the shareholders capital and not the owner FCCBs / ECBs  Company does not have exposure to FCCBs ECBs.  Did not accepted any fixed deposits 2011-12  Does not have any outstanding GDRs/ ADRs/ Warrants/ Convertible/


Ankur Aggarwal Senior Associate KL Aggarwal & Associates NSP, Pitampura, Delhi FDI in India.

market such as Indian stock exchanges or purchase of ADR/GDR’s  Sch 2,2A and 3 of FEMA 20/2000-RB  Largely anonymous relationship between the holders and the issuers  No specialization/ expertise brought in the country.  Liquid investment  Stock market gets/NR (excluding NRI) can sell/gift NRBut the Company should be operating in a sector which is under Automatic Route ResidentThrough a Recognized Stock Exchange in India, through a stock broker registered with Stock Exchange or a merchant banker /


P.K. Modi & Co. Chartered Accountants P.K. Modi & Co. Chartered Accountants Presented : Pradip K Modi Business Strategy and Tax/Legal Aspects for Joint.

in India IF IT DOES NOT SATISFY ANY OF THE ABOVE CONDITION THEN RBI APPROVAL REQUIRED P.K. Modi & CO. 7 Transfer of Shares of JV/WOS – No Write-off Presented : Pradip K Modi - MARKET PURCHASE -CAPITALIZATION OF EXPORT DUES, Royalty, Technical Fees etc -BALANCE IN RFC ACCOUNT -IN EXCHANGE OF ADR/GDR -BALANCE IN/, etc. Single Brand Retail Trading (up to 49%) Infrastructure / Shipping Hotels and Tourism Pharmaceuticals – Greenfield NBFC (minimum capitalization norms) Telecommunications (49%) Insurance 49%/


LIBERALISATION, FDI FLOWS AND DEVELOPMENT. Evolution of Government policy towards FDI 1948-late 60s Import substitution (with local products) prevalent;

capitalisation allowed. Cash remittances are allowed only in select cases. Equity participation through ADR/GDR allowed. Overseas JVs must be in the same line of business Allowed for any business activity (with exceptions) * - used to refer to the developing nations (also called “Global South”) which shared their resources Changes in patterns of OFDI Geography Concentrated in developing nations in 70s and 80s India & these nations – same colonial heritage & presence/


1 Reserve Bank of India Compounding of contraventions under FEMA, 1999 By Neeta Behramfram.

the contravention is serious in nature and warrants compounding of the contravention; and 7 Nature and Scope c. whether the contravention, prima facie, involves money-laundering, national and security concerns involving serious infringement of the regulatory framework. 8 Technical Contravention Delay of period up to six months in submission of returns /statements to Central Office like i ). Indian Company issuing shares under ADR / GDR Scheme ii) Annual Activity/


Outbound Investments – Tax and regulatory perspectives Jatin Kanabar October 6, 2013.

Merchant Banker registered with SEBI or an Investment Banker registered in the host country ADR/GDR exchanged for shares of foreign company – the holding of non-resident in the Indian company represented by underlying shares cannot exceed /though IHC is beneficial  Dividend, interest and capital gains income may be received with low/ nil withholding tax and accumulated in low tax jurisdiction  Ability to time receipt of dividend, interest and capital gains in India  Overall group level taxation could be/


Foreign Trade Policy February 2013 NCA.

in the current financial year also entitled for SFIS NCA SFIS – Duty credit entitlements Ineligible remittances for entitlements: Related to Financial Services Sector, foreign currency loans Export proceeds realization of clients Labour remittances for employment Issuance of foreign bonds and equity intruments such as ADRs, GDRs etc and/from indigenous sources An EOU may import from DTA or bonded warehouses in DTA / international exhibitions held in India, without payment of duty, all types of goods for its /


An Overview of Domestic and Overseas Markets In House Congress, Mumbai At Grand Hyatt, April 29, 2008.

(“GDRs”) American Depository Receipts (“ADRs”) Depository Receipts Foreign Currency Convertible Bonds (“FCCBs”) Foreign Currency Exchangeable Bonds (“FCEBs”) Euro Bonds Bonds  Companies Act, 1956  SEBI DIP Guidelines  Issue of Foreign Currency Convertible Bonds and /in India  Preferred by companies for raising funds for overseas expansions and acquisitions  FCEB Scheme was notified on February 15, 2008  A security offered by an issuing company and subscribed to by investors living outside India and /


1 Mutual Funds Concept and characteristics. 2 Concept What is a mutual fund? Common pool of money Joint or “mutual” ownership Similarity with shares of.

Yield Curve What should be the rate for reliance or IOB 41 Credit Quality & Yield Curve 42 Bond Trading In India Government securities Corporate securities PTCs 43 Government Bonds Can be traded for yield curve When interest rate falls the /to index funds Sectoral funds will have weights of stock in that sectoral index Maximum investment in unlisted equity is 10pct for close-ended schemes and 5pct for open-ended schemes Investments in ADR / GDR Maximum limit to all mutual funds is USD500million For each /


Presented by: Jayesh Kariya Partner - International Tax and Regulatory 5 September 2015 Funding Avenues for Real Estate Sector Real Estate Conclave - Kolkata.

provide an alternate channel for raising funds offering a structured and perpetual source of capital Major Channels of Financing in Real Estate Development in India ► Extrinsic and intrinsic factors determine the cost of funding ► Extrinsic factors /and Operations? Funding instruments for Real Estate sector EQUITY CCPs CCDs Optionally Convertibles Redeemables DEBT ECB MEZZ CapitalAuto Route ECB, conditions and restrictions apply Currently, Mezz FDI is permissible only in form of CCPS and CCD Equity/ADR/GDR/


Unit IV Financing And Dividend Decisions Introduction Cost of Capital – Meaning, Definition Basic assumptions of Cost of Capital Importance of Cost of.

– Global Depository Receipts (GDRs) American Depository Receipts (ADRs) Foreign Currency Convertible Bonds (FCCBs) and External Commercial Borrowings (ECBs/and government guidelines In 1988 the Securities and Exchange Board of India (SEBI) was established by the Government of India through an executive resolution, and was subsequently upgraded as a fully autonomous body (a statutory Board) in the year 1992 with the passing of the Securities and Exchange Board of India Act (SEBI Act) on 30th January 1992. In/


Evolution and Regulatory Framework of Mutual Funds K.Suresh Babu Vice President – Treasury Reliance Capital Ltd. Sunday, July 26, 2009 at SIES Management.

the savings to fund investments confidential 17 of 19 Evolution of MF industry in India 1993-1996 – Entry of Private Sector  The entry of private sector and foreign players allowed in 1993. Kothari Pioneer was the first private fund house to start operations/Scheme  No MF shall invest > 30% of its net assets in MMIs of an Issuer except for investments in GSec, TBs and CBLOs. confidential 45 of 19 Regulations on Investments in ADRs/ GDRs/ Foreign Securities  Overall ceiling limit of USD 7 bln.  Individual/


Foreign Trade Policy Export Promotion Schemes. Foreign Trade Policy, 2009-14 NCA 2 Legal Framework General Provisions regarding Import and Export Special.

in the current financial year also entitled for SFIS NCA 22 SFIS – Duty credit entitlements Ineligible remittances for entitlements:  Related to Financial Services Sector, foreign currency loans  Export proceeds realization of clients  Labour remittances for employment  Issuance of foreign bonds and equity intruments such as ADRs, GDRs etc and/ sources An EOU may import from DTA or bonded warehouses in DTA / international exhibitions held in India, without payment of duty, all types of goods for /


Session VI Auditor’s concern in Corporate Governance, Compliance certificate by Statutory Auditors RTI,Allahabad.

… ·        ·        Market Price Data: High, Low during each month in last financial year. ·        Performance in comparison to broad-based indices such as BSE Sensex, CRISIL index, etc. ·        Registrar and Transfer agents. ·        Share Transfer Systems. ·        Distribution of shareholding. ·        Dematerialization of shares and liquidity. ·        Outstanding GDRs/ ADRs/ Warrants or any convertible instruments, conversion dates and likely impact on equity. ·        Plant Locations. Address for/


Index 1. The Concept and Role of Mutual Funds.The Concept and Role of Mutual Funds 2. Funds Structure and Constituents.Funds Structure and Constituents.

as Trust. Asset Management Company. Other fund constituents. Custodian and Depositories. Bankers. Transfer Agent. Distributors. Index What is the regulatory structure of MF in India? The structure of mutual funds in India is governed by SEBI(Mutual Fund)Regulations, 1996. It is/ 10% of its NAV in a single company.( Exception – Index and Sectoral funds) Debt funds - single issuer not more than 15% of NAV, can be relaxed to 20% with approval of trustees and AMC MF Can invest in ADR / GDRs upto a max. limit of/


MODULE - VII. PORTFOLIO  A grouping of financial assets such as stocks, bonds and cash equivalents, as well as their mutual, exchange-traded and closed-fund.

?  State the regulatory funcations of stock exchange  What is SEBI  Define risk.  What is CAPM  What is ADR and GDR?  What is Growth shares  What is sweat equity?  What is certificate of deposits  What is capital Gain  State/financial assets? Expalin the different financial assets available in india for investment  Explain the Role of SEBI in indian capital market  Discuss the role of Stock exchanges in india  What is IPO? Discuss the proceedure involved in the IPO.  Discuss the functions of /


NYSE Euronext France-India Conference Mumbai - May 2007.

NYSE Euronext France-India Conference Mumbai - May 2007 2 NYSE Euronext – Global Exchange Leadership  /GDR, ADR) Corporate bonds Derivative instruments, including Convertibles, Options, Warrants and Futures  Currency of listing Euro - the world’s second most important currency Or any other major currency 12 Eurolist – the main board  One cross-border regulated market - one rule book Choice of regulatory entry point to cross-border platform  Borderless:  Companies are classified in alphabetical order and/


Unit III. Unit C International trade and FDI Unit C Topic 1 -Role of FDI in international trade Unit C Topic 2 -Norms of FDI and their justifications.

(FPIs), Qualified Foreign Investors(QFIs), Non-Resident Indians (NRIs), Foreign Currency Convertible Bonds (FCCBs), American Depository Receipts (ADRs), Global Depository Receipts (GDRs) and convertible preference shares held by foreign entities. August 2014 latest FDI Policy of GOI FDI cap in India: Page 49 onwards sector wise FDI ban in India 1 FDI ST_110412.pdf Pg 9 Sector-wise distribution of FDI inflows During August 2014, top 10/


Leading Tax Advice in Cyprus... and across the World Cross Border transactions via Cyprus Case analysis Prague, 17 th June 2010.

, Swap on titles, Depositary receipts on titles – ADR + GDR, Rights of claim on bonds and debentures, Repurchase agreements or Repos on titles, Participation / shares in companies like Russian OOO, OAO and ZAO, the American LLC provided (taxed on their profits), the Romanian SE and SRL and the Bulgarian AD and OOD, Units in both, open and closed end collective investment schemes founded, registered and are operating according to the provision of/


Training and Consulting Solutions for IT Organisations and BPOs from Centre for Development of Managerial Skills.

–Retail banking –Wholesale banking –Mortgages –Wealth Management Presentation on Financial Domain Training Programmes in Financial Domain conducted for IT / BPO clients (contd) Capital Markets in U.S., U.K. and India –Primary Markets Issue of Stock and Bonds, Government Securities –Public issues, Rights issues, Bonus issues Issue of ADRs and GDRs Investment Banking, Depository Services and related services Regulatory environment –Secondary Markets Trading Mechanism Stock Exchanges, Over the Counter/


Asset management through Cyprus – Advantages from the new DTT and the road ahead November 2012 - Poznan.

Azerbaijan Austria Belarus Belgium Bosnia and Herzegovina Bulgaria Canada Croatia China Czech Republic Denmark Egypt FYROM France Germany Greece Hungary India Ireland Italy Kyrgyzstan Kuwait Lebanon /ADRs and GDRs Index participations only if they represent titles Repurchase agreements or Repos on titles Participations in companies (Russian OOO and ZAO, USA LLC (provided that they are not transparent for taxation purposes), Romanian SA and SRL and Bulgarian AD and OOD among others) Units in Investment and/


Companies’ Act 1956. Meaning of the company According to section 3(1) (i) of The Companies Act, 1956, “Company means a company formed and registered under.

Committees of the Board CLB – Company Law Board RoC – Registrar of Companies SEBI – Securities and Exchange Board of India Sensex, Nifty, BSE, NSE Price Band Minimum Subscription Over Subscription Features of Debentures The rates/ADR GDR, Proxy, Others Company Secretary Company Auditors Interim Dividend Ordinary Resolutions Special Resolutions Winding Up of the Company Special Resolutions Default in holding statutory meeting Failure to Commence Business Reduction in Membership Inability to Pay Debts Just and/


205 – Amit 207 – Chandni Dev 210 – Devarsh Mapuskar 215 – Karan Shetty

Singapore Exchange Hong Kong Exchange Difference between ADR and GDR Both ADR and GDR are depository receipts, and represent a claim on the underlying shares. The only difference is the location where they are traded. Depositary receipts traded in USA – ADR Depositary receipts traded in a country other than USA - GDR India- ADR and GDR ADRs and GDRs are an excellent means of investment for NRIs and foreign nationals wanting to invest in India By buying these, they can invest directly/


1 International Financial Management P G Apte. 2 Introduction The twentieth century has seen massive cross- border flows of capital. Cross border equity.

ADR program, while in an unsponsored ADR, the issuance of the ADR is demand driven. –ADRs are directed at US based investors and issued in US while GDRs are issued outside US and are targeted at global investors. The main difference is in/-Return Substitute, simplify, ignore cross products to get that US investor would invest in India if – ŝ e > (  US -  IN ) + (  US -  IN ) –Thus even with lower dividend yield and capital gains, foreign equities can be attractive if the foreign currency is expected to/


Banking institutions Commercial Public sector Private Banks Foreign Banks RRB Coop. Urban State Central PACS NO PSL PSL, MSF 40% | 32% Depending on.

ADR [$ paid, $ dividend] ADR GDRGDR= Global depository receipts @EU  1st GDR: Reliance 92  1st ADR: Infosys 99 ADR GDR Budget 2014 reform  Reduce restrictions on ADR GDR  We’ll introduce Bharat Depository receipts Shares IDR Bh.DR IDR Bh.DR Dividend Indian Stock Exchange IDR, Bharat Depository receipts  2004: IDR permitted  So far only 1, via Standard chartered  FM MS Sahoo panel  Bharat Depository receipt (BhDR)  Both debt and equity/


Euromoney Markets 1 Euro-money Markets. Euromoney Markets2 (concept of euromoney)  Eurodollar is a dollar deposit outside the US  Euroyen is a yen deposit.

slide ) Euromoney Markets32 GDR :Potential benefits to investors On the other hand : Currency risk Risks inherent in equity investments ( dividend uncertainty and capital loss) Withholding taxes ( not in India ) Tax on capital gains ( now limited to 10% on ST capital gains ), applicable only in case of conversion to underlying shares and sale in the secondary market Euromoney Markets33 American Depositary Receipt (ADR) What is an ADR? A negotiable certificate or/


G ROUP M EMBERS Roll No.: Name 5002Neha Agarwal 5052Aakash Shah 5096Vidhi Gandhi 5144Yash Shah 5212Saurabh Shah KSSBM MBA 5 th year Finance Seminar on.

counter or among Qualified International(Institutional) Buyers (QIB). It is denominated in US Dollars and represents shares issued in the local currency. Indian Companies using ADR/GDR GDR operates in the following way: 1. An Indian company issues ordinary equity shares/ Finance Corporation (Washington) Investment by Foreign Institutional Investors (FIIs) in dedicated debt funds FCCBs Foreign Currency Exchange Bonds In a country like India, where the interest on the domestic bank loan is distinctly higher/


International Banking International Capital Flows Session 10 --Hilla Shahpur Maneckji.

. 5. Labor Laws: The labor laws in Pakistan give companies reasonable hedge in terms of hiring and firing employees without seeking the permission of the state government, unlike in India. International Banking Issues Relating to FDIs (4/ between the issuing company and the GDR holders. International Banking American Depository Receipts (ADRs) International Banking American Depository Receipts (ADRs) (1) Until 1990, companies had to issue separate receipts in the US (ADRs) and in Europe (IDRs) to /


Outward Foreign Direct Investment Policy (‘ODI’) – Basics of FEMA August 16, 2011 Vijay Gupta AICWA, FCS, FCA VKGN & Associates Chartered Accountants Mobile:

Limits Approach Authorized Dealer with Form ODI Financial services sector, prior approval is required from the regulatory authority concerned both in India and abroad UP TO 400 % OF NET WORTH as per the last audited Balance Sheet. Ceiling not applicable for EEFC account or out of funds raised through ADRs/GDRs. Net worth clubbed for its Indian subsidiary/holding company holding at least 51% stake/


10 July 2007 PRELIMINARY LEGAL CONSIDERATIONS ON THE LISTING OF AN INDIAN BUSINESS ON AIM.

Jurisdiction India SPV ICo 1ICo 3 16 GDR Route  Issue of Foreign Currency Convertible Bonds and Ordinary Shares (Through Depository Receipt Mechanism) Scheme, 1993 as amended  from time to time  FDI Policy and sector specific guidelines  Listing Agreements  SEBI (Disclosure and Investor Protection) Guidelines, 2000 (SEBI DIP Guidelines)  Companies Act, 1956  Some important considerations:  Listing: Requires to be prior or simultaneously listed in India  Investors: OCBs and Indian/


Foreign Direct Investment. Foreign Direct Investment or FDI Is the process whereby residents of one country (the source country) acquire ownership of.

hold more than 5% of the stake. Keeping Indias civilian nuclear ambitions in mind, India has also allowed 100% FDI in mining of titanium, a mineral which is abundant in India. Statutory Limits Foreign direct investment (FDI) up to 49 percent is permitted in Indian private sector banks under “automatic route” which includes Initial Public Issue (IPO), Private Placements, ADR/GDRs; and Acquisition of shares from existing shareholders. Automatic route/


Amity School Of Business Sources of Long Term Finance Module-1.

stock exchange They are bought and sold in the American markets just like regular stocks ADRs are generally listed on the NYSE, AMEX, or Nasdaq. However, some ADRs are not listed on an /and deposit it on the accounts Global Depository Receipt facilitates trade of shares, especially those from emerging markets. Prices of GDRs are often close to values of related shares 34 Amity School Of Business IDR IDR means any instrument in the form of depository receipt created by the domestic depository in India/


Presented By: Sandip Dhatrak 11 Harshada Dhuri 12 Raj Kumar Dwivedi 13 Amruta Gondhalekar 14 Rohit Jadhav 16.

, it is referred to as portfolio investment  There are mainly two routes of portfolio investments in India 1. Foreign Institutional Investors (FIIs) like mutual funds 2. Through global Depository Receipts (GDRs), American Depository Receipts (ADRs) and foreign currency Convertible Bonds (FCCBs).  A depository Receipt is basically a negotiable certificate, denominated in US dollars, that represents a non-US companys publicly-traded Local currency (Indian Rupee) equity/


Submitted By: Brahmbhatt Ankita (04) Chhabhaya Yogita (05) Submitted To : ( Group : 2 ) Prof. Hiren Patel.

the provisions of the Export and Import policy in force. Other Modes of Foreign Direct Investments Global Depository Receipts(GDR)/American Deposit Receipts (ADR)/Foreign Currency Convertible Bonds (FCCB): Foreign Investment through GDRs/ADRs, Foreign Currency Convertible Bonds (/for automatic approval are considered by the Government through the FIPB. Attracting Foreign Direct Investment to India. Economic policymakers in most countries go out of their way to attract foreign direct investment (FDI). A high/


Submitted to: Submitted by: Prof. Harpreet Kaur PRIYA VERMA 1115.

Route  Government Route  Indian companies can raise foreign currency resources abroad through the issue of ADRs/ GDRs, in accordance with the Scheme for issue of Foreign Currency Convertible Bonds and Ordinary Shares (Through Depository Receipt Mechanism) Scheme, 1993 and guidelines issued by the Government of India thereunder from time to time.  A company can issue ADRs / GDRs, if it is eligible to issue shares to persons resident outside/


Securities Market Dr. Rana Singh 9811828987 www.ranasingh.org.

Offer and Bankers to the Offer and the bank handling refund business. Credit Rating Sebi Credit rating regulations ACT 1999 Promoted by PFI, SCB, Foreign Banks operating in India, /and traded in $ in U S markets Allows issuer to raise capital in two or more markets simultaneously To facilitate the purchase, holding and sale of non U S Securities by U S investors. Underlying shares correspond to GDR are fixed in ratio i.e. 1 GDR = 10 shares ADRs and GDRs are identical in legal, technical,operational and/


January 13, 2007 Cross- Border Bharat Vasani Group General Counsel Tata Sons.

behalf of the JV / WoS Direct and indirect investment in agricultural operations January 13, 2007 Financing an Acquisition Funding Methods  Drawal of foreign exchange from AD  Swap of ADRs/GDRs  Utilization of proceeds of ECBs / FCCBs  Balances in EEFC account  Utilization of foreign currency funds raised through ADR / GDR issues 200% net worth ceiling not applicable in case of funding by:  Balances in EEFC account  Utilization of foreign currency/


SCOPE Overview of Cross-Border M & A transactions Process involved Deal structuring issues Due Diligence issues Legal aspects FEMA Provisions Transaction.

means services related to transaction which involve two or more countries. In India there are two Acts which primarily seems to show concern when a person/and indirect investment in agricultural operations Financing an Acquisition Funding Methods Drawal of foreign exchange from AD Swap of ADRs/GDRs Utilization of proceeds of ECBs / FCCBs Balances in EEFC account Utilization of foreign currency funds raised through ADR / GDR issues 200% net worth ceiling not applicable in case of funding by: Balances in/


Discussion Material For Initial Public Offerings Presentation by: Abhiram Bhattacharjee March 27, 2009.

and provide significant liquidity  Additional recognition in case of presence in Sensex/ Nifty/ A group Flexibility for future capital raising opportunities  Multiple choice: QIP, Rights, Follow-on public issue, GDR, ADR, FCCB Establishes profile  Sharing history, business operations, strategy and growth plans helps develop franchise value  Enables branding and/ Ads 21 Marketing Strategy (Cont’d.) Retail and Non Institutional Marketing in India Communication of the equity story to the investors prior/


CROSS BORDER MERGERS & ACQUISITIONS The Legal Landscape Madhurendra Nath Jha.

& Associates, Advocates Destination India Liberal FDI Policy Framework FDI allowed in most sectors Entry Routes for Investment in India –Approval –Automatic © Paras Kuhad & Associates, Advocates FDI and Portfolio Flows to India Source: RBI © Paras Kuhad/ Bonds (FCCBs); –in exchange of ADRs/GDRs –Balances held in EEFC account of the Indian party; –Utilisation of proceeds of foreign currency funds raised through ADR / GDR issues. © Paras Kuhad & Associates, Advocates India’s Direct Investment Abroad/


1 Globalization, Finance & China Jian Chen Prepared for ESEUNE gemMBA Program Beijing Campus Beijing Campus November 4 th, 2013.

to certificates traded outside the USGlobal Depositary Receipts (GDRs) – refers to certificates traded outside the US American Depositary Receipts (ADRs) – are certificates traded in the US and denominated in US dollarsAmerican Depositary Receipts (ADRs) – are certificates traded in the US and denominated in US dollars ADRs are sold, registered, and transferred in the US in the same manner as any share of stock with each ADR representing some multiple of the underlying foreign shareADRs/


Shah & Modi CHARTERED ACCOUNTANTS FEMA – New Vision & Approach The Committee on Economic, Commercial Laws & WTO of the ICAI jointly with NIRC October 18.

)Maintenance of foreign currency accounts in India and outside India by a person resident in India h)Taking out of insurance policy by a person resident in India from an insurance company outside India. i)Loans and overdrafts by a person resident in India to a person resident outside India. j)Remittance outside India of capital assets of a person resident in India. k)Sale and purchase of foreign exchange derivatives in India and abroad and commodity derivatives abroad by a/


April 20, 2001L&L/MDI/FDI-JV1 Legal Aspects of FDI & Joint Ventures Presented by: Mohit Saraf, Partner Luthra & Luthra Law Offices.

&L/MDI/FDI-JV4 Modes of FDI Direct Investments in Indian Companies by Foreign Companies/ Non-resident Global Depository Receipt (GDR)/ American Deposit Receipts (ADR)/ Foreign Currency Convertible Bonds (FCCB) April 20, 2001L&L/MDI/FDI-JV5 Manner of Direct Investment FDI is freely allowed in all sectors including the services sector, except where the existing and notified sectoral policy does not permit FDI beyond/


Overseas Direct Investment July 9, 2011. Agenda  Routes of Investment  Automatic route  Approval Route  Funding Mechanism  Pledge of Shares of JV/WOS.

ADR / GDR issue Exchange of ADR/GDR FCCB proceeds 400% ceiling doesn’t apply Funding Mechanism D ESAI & D IWANJI Pledge of shares of overseas company permitted to: Indian Bank / public financial institution for loan for Indian party itself or for the JV/ WOS abroad. Overseas Lender subject to: The lender being regulated and// WOS Sale after > 1 full year of operations and APR for said year has been submitted Indian party is not under investigation in India Shares sold on a Stock Exchange or if unlisted, /


HONG KONG DEPOSITARY RECEIPTS (HDRs)

GDRs – “Global depositary receipts” – Usually – a US leg (ADRs) settled in DTC – a European leg under Reg S settled in ICSD and traded on London’s IOB – Used by many foreign companies listing in London or Luxembourg – Concessionary regulation – viewed as professional product and/ overseas companies. Roadshows / marketing trips to Russia, Vietnam, Kazakhstan, India, Mongolia, etc. Feedback: HKEx Listing Rules mandating shares and Hong Kong share register considered a barrier. Solution: HDR framework Nature /


REAL ESTATE FINANCING- OPTIONS & ISSUES

EQUITY FCCB/ADR/GDR/QIP(For Listed Co.’s) Listing in International markets such as AIM EURO CORPORATE SERVICES EURO CORPORATE SERVICES BANK CREDIT - GENERAL Lending by Banks continues to be the biggest sources of financing for real estate companies in India. They/ Indiareit (Piramal Group) EURO CORPORATE SERVICES FOREIGN DIRECT INVESTMENTS FDI are investments made in home country by foreign investors. Total FDI in India’s housing and real estate sector till date is about 19 bn USD Besides the Foreign Funds /


International Briefing Series: Nigeria Friday 28 May 2010.

ADR) b. Alternative Dispute Resolution (ADR) 6. Summary THE ROCK AND PARTNERS THE ROCK AND PARTNERS HISTORICAL OVERVIEW Oil was discovered in commercial quantities in Oloibiri in Rivers state in 1958. Oil was discovered in commercial quantities in Oloibiri in Rivers state in 1958.  Nigeria is the 11th largest producer of crude oil in/ bank’s GDR will become holders of the holding company’s GDR. In the case of a spin-off or a sale, obligations will remain with the entity as will existing assets and lines of /


FOREIGN DIRECT INVESTMENT Atul Mittal Associate Director PricewaterhouseCoopers Pvt. Ltd. July 9, 2011.

followed has to be obtained. NRI Non-resident holding shares of Indian Company may pledge shares in favour of AD bank in India to secure credit facilities being extended to resident Investee Company for bona fide purpose, subject to certain/ down in Escrow agreement, Share Purchase Agreement etc. Reporting and Remittances Reporting and Remittance Reporting Investment Stage: 30 RBI reporting on receipt of money : FC(GPR) to RBI in 30 day through AD for FDI, ESOP, Right, Bonus, M&A, ECB FCCB/ADR/GDR Transfer /


Valuation of HCC For Acquisition by Gammon Group # 6 Ritu Mehlawat (034) Sabyasachi Panda (039) Saumya Prakash (045) Stambhit Saha (055) Nishant Kumar.

in India Pioneer of pre-stressed concrete in India Builder of the largest number of bridges and flyovers in India Builder of the largest number of bridges and flyovers in India Pioneered cantilever construction and pre-cast segmental bridge construction Pioneered cantilever construction and/Rs.419.5/share Shareholding Pattern: Promoters = 32% FIIs = 18% Mutual Funds = 7% ADRs/GDRs/Other Foreign = 19% Institution = 4% Public and Others = 20% Current Status Part Debt…Part Equity 51% of HCC to be acquired by /


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