Important Points for IC 89 - Management Accounting Exam
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Depository receipt is a transferable instrument evidencing a fixed number of equity share of an issuing company being an Indian company, denominated in the foreign currency, which is traded in foreign exchange.
The basic purposes for issuance of depository receipts are as follows: Raising foreign capital, Diversification and spread of shareholders base in the cross border geographies, Gaining recognition of corporate entity and activities in the international market, Creating global image, Emphasizin g ESOP(Employees stock options plans), Facilitating merger and acquistion activity with desirable foreign currency.
AIF means any fund established in India in the form of a trust, company, limited liability partnership, or a body corporate which is a privately pooled investment vehicle that collect funds from investors, whether Indian/Foreign, for investing it in accordance with a defined investment policy for the benefit of its investors.
As per the regulation, venture capital fund means a fund established in the form of a trust or a company including a body corporate and registered under these regulations which: Has a dedicated pool of capital, Raised in a manner specified in the regulation and Invests in venture undertaking in accordance with the regulations.
Venture Capital Undertaking means a domestic company whose shares are not listed on a recognized stock exchange in India and which is engaged in business for providing services, production, or manufacture of articles or does not include such activities or sectors which specified in the negative list by SEBI with the approval of the Central Government by notification in the Official Gazette in this regard.
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