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    • Question

      As per Companies Act, a company may issue Depository

      Receipt in a foreign country by passing a ___________?
      A Ordinary resolution in General Meeting Correct Answer Incorrect Answer
      B Special resolution in General Meeting Correct Answer Incorrect Answer
      C Ordinary resolution in Board Meeting Correct Answer Incorrect Answer
      D Special resolution in Board Meeting Correct Answer Incorrect Answer
      E Circular agenda it in Board Meeting Correct Answer Incorrect Answer

      Solution

      Global Depository Receipt means any instrument in the form of a depository receipt, by whatever name called, created by a foreign depository outside India, and authorized by a company making an issue of such depository receipts. Section 41 of the Companies Act, 2013 allows  a  company  to  issue  depository  receipts  in  a  foreign  country  by passing a special resolution in its general meeting.

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