a) The detail explanation is available in the below link
http://en.wikipedia.org/wiki/American_depositary_receipt
b) Is there any ADR kind of facility available in Indian stock Market. To trade in foreign secutities.
American depository Receipt mean any indian compnay issuing its Equity Stocks Only in America. Other than America its termed has Global Depository Receipt.
In case, if any foriegn Comapny wants to issue Equity Shares in INDIA it has to through the INDIAN DEPOSITORY RECEIPTS. An Indian Depository Receipt (IDR) is a financial instrument denominated in Indian Rupees in the form of a depository receipt created by a Domestic Depository (custodian of securities registered with the Securities and Exchange Board of India) against the underlying equity of issuing company to enable foreign companies to raise funds from the Indian securities Markets.
As of Now in india STANDARD CHARTERED BANK NSEScrip Code STAN, series DR, BSE:- STANSL Group:- B is the only stock through IDR's, the same is listed in NSE& BSE. There is procedure to be followed as it is followed by indian companies while issuing shares. Check SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND
DISCLOSURE REQUIREMENTS) REGULATIONS, 2009 .
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Thank you Praveen, this is really helpful.
you are welcome vinay