"For funding of restructuring, various foreign currency denominated instruments are available". In this context explain in brief the concept of Depository receipts and eligibility conditions for issuance of the same.

'Depository Receipt' means a foreign currency denominated instrument, whether listed on an international exchange or not, issued by a foreign depository in a permissible jurisdiction on the back of permissible securities issued or transferred to that foreign depository and deposited with a domestic custodian. Here, Permissible Securities means equity shares and debt securities, which are in dematerialized form and rank pari passu with the securities issued and listed on a Recognized Stock Exchange. 'Depository Receipt' includes 'Global Depository Receipt' as defined in section 2(44) of the Companies Act, 2013 'as any instrument in the form of a depository receipt, by whatever name called, created by a foreign depository outside India and authorised by a company making an issue of such depository receipts'. A company may issue depository receipts provided it is eligible to do so in terms of the Scheme and relevant provisions of the Foreign Exchange Management Rules and Regulations. The rules relating to the GDR are contained in Depository Receipts Scheme, 2014, which was issued vide Notification No. F. No. 9/1/2013-ECB dated 21st October, 2014. Eligibility: The following persons are eligible to issue or transfer permissible securities to a foreign depository for the purpose of issue of depository receipts: any Indian company listed or unlisted, private or public; any other issuer of permissible securities; any person holding permissible securities; which has not been specifically prohibited from accessing the capital market or dealing in securities. Unsponsored depository receipts on the back of listed permissible securities can be issued only if such depository receipts: give the holder the right to issue voting instructions; and are listed on an international exchange. A company may issue depository receipts provided it is eligible to do so in terms of the Scheme and relevant provisions of the Foreign Exchange Management Rules and Regulations.