Who pays taxes arising in relation to the IDRs?
The Company will pay all taxes and stamp duties in the United Kingdom and India associated with the initial issuance of the Deposited Shares to the Custodian in accordance with the terms of the IDR Facility. IDR Holders will be responsible for all other taxes or other governmental charges payable on the IDRs or on the Deposited Shares. The Depository is not liable for any taxes, duties in the United Kingdom and India, charges, costs or expenses which may become payable in respect of the Deposited Shares or other Deposited Property or the IDRs. Such part thereof as is proportionate or referable to an IDR shall be payable by the IDR Holder to the Depository at any time on request or may be deducted from any amount due or becoming due on such IDR in respect of any dividend or other distribution. A failure to comply with such request may result in the sale of the Deposited Shares represented by the IDRs of the defaulting IDR Holder. Payments to IDR Holders of dividends or other distributio
