Question

Against what can depository receipts be issued, according to the rules?

a.

Only against issue of new shares

b.

Only against issue of existing shares

c.

Only against issue of bonus shares

d.

Against issue of new shares or sponsored against shares held by shareholders of the company

Answer: (d).Against issue of new shares or sponsored against shares held by shareholders of the company Explanation:Depository receipts may be issued against issue of new shares or may be sponsored against shares held by shareholders of the company.

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Q. Against what can depository receipts be issued, according to the rules?

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