1. What is Form FC-5?
Form FC-5 is used for Nomination for Indian Depository Receipts. The Indian Depository Receipt (IDR) is a financial instrument in the form of a depository receipt that is denominated in Indian Rupees. IDR is a mechanism to own shares of international companies that are not allowed to list on Indian stock exchanges. In case any contingency takes place in the company then Form FC-5 will be used to transfer the IDR to the nominated person.
2. Why is it important?
Form FC 5 contains the format in which nomination can be filed by the foreign company For the IDR issued to them. The nomination will help in the easy transfer of the IDR and other benefits to the nominee
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