what is the global depository receipts under companies act 2013 notes

clause (44) of section  2 of the companies act 2013 define global depository receipts (GDR)  as under global depository receipt. any instrument in the form of a depository receipt  by accompany making an of such depository outside India and authorized  by a company making an issue of such depository receipt  convenience of holding foreign  securities in domestic market diversification portfolio no reification  in portfolio no restriction in trading as depository receipts   are treated  as domestic securities avoid  currency source of finance global  reputation extension of shareholders base beyond territory