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The Ministry of Finance ("MOF") has by a recent notification further liberalized the Scheme for Issue of Foreign Currency Convertible Bonds and Ordinary Shares (Through Depositary Receipt Mechanism), 1993 ("Scheme") by permitting unlisted Indian companies, like those engaged in real estate business, to sponsor an issue of American Depository Receipts (ADRs)/ Global Depository Receipts (GDRs) with an overseas depository against shares held by its shareholders

Recently, the Ministry of Consumer Affairs took another step in the direction of protecting consumers' interests by notifying an amendment to the Legal Metrology (Packaged Commodities) Rules, 2011.