MINISTRY OF FINANCE

Ministry of Finance (MoF), has vide its notification (number GSR 648[E][F.No.4/13/2012-ECB], 2013) dated 11 October 2013 (Notification), amended the Issue of Foreign Currency Convertible Bonds and Ordinary Shares (Through Depository Receipt Mechanism) Scheme, 1993 (Scheme), to bring the Scheme in line with the press release of the Government of India dated 27 September (Press Release), allowing Indian companies to list and raise capital abroad without the requirement of prior or simultaneous listing in India on pilot basis for a period of two years.