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      Question

      A company may, ____________________, issue depository

      receipts in any foreign country in such manner, and subject to such conditions, as may be prescribed
      A After passing an ordinary resolution in its general meeting Correct Answer Incorrect Answer
      B After passing a special resolution in its general meeting Correct Answer Incorrect Answer
      C After passing an extra ordinary resolution Correct Answer Incorrect Answer
      D After approval of the Central Government Correct Answer Incorrect Answer
      E None of the above Correct Answer Incorrect Answer

      Solution

      After passing a special resolution in its general meeting, Explanation: Section 41 Global depository receipt- 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 Depository Receipts means a foreign currency denominated instrument listed on an international exchange issued by a foreign depository in a permissible jurisdiction on the back of permissible securities issued or transferred to a domestic custodian

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