Section 390 — Offer of India Depository Receipts

Notwithstanding anything contained in any other law for the time being in force, the Central Government may make rules applicable for-- (a) the offer of Indian Depository Receipts; (b) the requirement of disclosures in prospectus or letter of offer issued in connection with Indian Depository Receipts; (c) the manner in which the Indian Depository Receipts shall be dealt with in a depository mode and by custodian and underwriters; and (d) the manner of sale, transfer or transmission of Indian Depository Receipts, by a company incorporated or to be incorporated outside India, whether the company has or has not established, or will or will not establish, any place of business in India.

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