Section 41: Global depository receipt
This section allows a company to issue global depository receipts in a foreign country after passing a special resolution.
The section, clause by clause
What the section says
In plain terms
A company may, after passing a special resolution in its general meeting, issue depository receipts in any foreign country in such manner, and subject to such conditions, as may be prescribed.
PART II.—Private placement
The right-hand column is written from the section text, not quoted from it, and it has no legal force. Where the two differ, the left-hand column is the law.
Amendment notes
- 1. The words “with imprisonment for a term which may extend to one year or” omitted by Act 29 of 2020, s. 7 (w.e.f. 21-12- 2020).
- 2. Subs. by s. 7, ibid., for “three lakh rupees, or with both” (w.e.f. 21-12-2020).
- 3. Subs. by Act 1 of 2018, s. 10 (w.e.f. 7-8-2018).
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Reproduced from the official India Code print for reference. Check the current text on India Code before you rely on it, and read the section alongside its Rules. Nothing here is legal advice.