DISPUTES IN RELATION TO THE IDRs How can IDR Holders enforce the obligations of the Depository and the Company?
The Company has executed a Deed Poll which entitles an IDR Holder to enforce any provision(s) of the Deposit Agreement with which the Company fails to comply as if the IDR Holder were a party to the Deposit Agreement and was the Depository. The Deed Poll and the Deposit Agreement are governed by English law. IDR Holders may refer such dispute to arbitration in India in accordance with the Arbitration and Conciliation Act. Under the terms of issue of the IDRs, the Company, the Depository and IDR Holders from time to time agree that any dispute, controversy, cause of action or proceeding brought by any of them (including, for the avoidance of doubt, any former IDR Holders) arising out of or relating to the Deposited Shares or other Deposited Property, the IDRs or the Deposit Agreement, or any breach thereof, including any question regarding existence, validity, termination, and any counterclaims that may be related thereto, must be referred to, and finally resolved by, binding arbitratio
