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?Fhe G a z e t t emlT"l o f &diaEXRAORDMARYWl JI-W5 3-aP-W5 (i)

P A R T ~ J A ~ A ~ u&-seaion (9mfBan*asrRraPUBLISWBBY AUTBOlW Ye. 3671 ;idm,Wl7, WlW 31, 2wS/lm 9, 1927

No. 3671 NEW DELHl WEDNESDAY, AUGUST 31, M03/BEADRA 9,1927m+mm .

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4- 'IIB GAZET?EOF NDIA :EXTRAORDINARY PART4 c . (i)]

MINISTRY OF FINANCE(Department of Economic Affairs)

NOTlFlCATlONNew Delhi, the 31st August, 2005

Forei n Currency Convertible Bonds and Ordinary Shares (Throygh DepositaryRece pt Mechanism) (Amendment) Scheme, 2005.I Government hereby amend the Foreign Currency Convertible BondsShares (Through Depositary Receipt Mechanism) Scheme, 1993, namely: -

Scheme may be called the issue of Foreign Currencyares (Through Depositary Receipt Mechanism)2. Th Scheme shall be deemed to have come into force from the date of publication ofNotiicatio ; andt3. In e Foreign Currency Convertible Bonds and O r d i n a ~ hares (Throuph DepositatyReceipt M chanism) Scheme, 1993;tAfl r paragraph 3(1), the following subparagraph shall be inserted; nam$ly:-t company, which is not eligible to raise funds fmm the lndian pp it a l marketwhich has been restrained from accessing the securities karket by theBoard of lndia (SEBI) will not be eligible to issand (ii) Ordinary Shares through GlobalConvertible Bonds and Ordinary Shares

listed lndian Companies issuing Global Depositary ReceiptsIForeign CurrencyBonds shall be required to simultaneously list in the lndian Stock Exchange@ ).Overseas Corporate Bodies (OCBs) who are not eligibleprohibited to buy, sell M. deal into (i) Foreign Currency Convertible BondsReceipts under the Foreign CurrencyReceipt Mechanism) Scheme, 1993.

In aragraph 5 sub-paragraph (4) (c) shall read as f6llows:-5(4)(ca) Li ted Companies - The pricing should not be less than thetwo av ra es:4

(i)(ii)

The average of the weekly high and low of the closing prices bf the relatedshares quoted on the stock exchange during the six months preceding therelevant date;The average of the weekly high and low of the closlng pnces af the relatedshares quoted on a stock exchange during the two weeks +receding therelevant date.

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The "relevant date" means the date thirty days prior to the date on which the meeting ofthe! general body of shareholders is held, in terms of section 81 IIA) of the Comoanies. .Act, 1956, to consider the proposed issue.5(4)(cb) Unlisted Companies - The pricing should be in accordance with Reserve Bank oflndia Regulations notified under Foreign Exchange ManagementAct, 1999.

lln Paragraph 5 sub-paragraph (4) (e) (i) and (4) (e) (ii) shall be inserted, namely:-5(4)(e)(il Listed Companies - The conversion price of the Foreign Currency ConvertibleBonds should be in accordance with para 5(4)(ca) ibid.5(4)(e)(iu) Unlisted Companies - The conversion price of the Foreign Currency ConvertibleBonds should be in accordance with Reserve Bank of lndia Regulations notified under ForeignExchange Management Act, 1999.

IF. NO. 15/4/2uUe~RijU. K SINHA, Jt. Secy.

Foot Nate :-(I) The Principal Scheme, viz., Issue of Foreign Currency Convertible Bondsand Ordina~yShares (Through Depositary Receipt Mechanism) Scheme, 1993, was publishedin the Gazette of lndia, Extraord~nary, Part 11, Section 3, Sub-section (i) on the 12thNovember, 1993lKartika 21, 1915. [Notification No. G.S.R. 700(E), dated 12th November,19931.(7 ) Amend~mentn thp nri~ina!&ame carriprl in Fnreizn C?!rpn~t~n~,pejrt!p Rnnri-i 2ndOrdinary Shares (Through Depositary Receipt Mechanism) (Amendment) Scheme, 1999 waspublished im the Gazette of lndia, Extraordinary, Part II- Section 3 - Subsection (i) on the 11"November 19991Kartika 20, 1921. (Notification GSR. NO. 164 (E), dated 10" November1999).(3) Amendment in the Oliginal Scheme canied in Foreign Currency Convertible, Bonds andOrdinary Shares (Through Depositary Receipt Mechanism) (Amendment) Scheme, 1999-waspublished in the Gazette of lndia, Extraordinary, Part II- W o n -Subsec tion (i) on the 19*June 20001Jyaistha 29,1922. (Notification GSR. NO. 544 (E), dated 16" June 2000).(4) Amendment in the Original Scheme canied in Foreign Currency Convertible Bonds andOrdinary Shares (Through Depositary Receipt Mechanism) (Amendment) Scheme-ll, 2000was published in the Gazette of lndia (Extraordinary) under Part ll Section-3 Subsectionon 14th November, 20001Karlika 23,1922. (Notification GSR. NO. 865 (E), dated 1November 2000).(5) Amendment in the Original Scheme carried in Foreign Currency Convertible Bonds andOrdinary Shares (Through Depositary Receipt Mechanism) (Amendment) Scheme-Ill, 2000was published in the Gazette of lndia (Extraordinary) under Part-ll Section-3 Sub-section (Ion 14th November, 2000Ka rtika 23,1922. (Notification GSR. NO. 866 (E), dated 1November 2000). oil,(6) Amendment in the Original Scheme ca r r ia in Foreign Currency Convertible Bonds andOrdinary Shares (Through Depositary Receipt Mechanism) (Amendment) Scheme, 2001 was~ubl ishedn the ~a ze tt&o fndia (~xt~kordinarv)nder p a i- l i Section-3 &-ion (i) on 21'keptember, 20011Bhadra 30,lg23. ( N o f m d n GSR. No. 687(E), dated 18* September,2001).

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Printed by the Managm, Govt. of India P r c q ~ i n g oad, Mayapuri, New DeIhi-110064and Published by the ControUcr of Publications, Dcei-110054. ,