In the process of issue of the Indian Depository Receipts (IDRs), various Agencies are required to be engaged. Prepare a brief note.

The following agencies are involved in the process of issue of the Indian Depository Receipt: "Indian Depository Receipt" (means any instrument in the form of a depository receipt created by a Domestic Depository in India and authorized by a company incorporated outside India making an issue of such depository receipts. "Domestic Depository" means custodian of securities registered with the Securities and Exchange Board of India and authorized by the issuing company to issue IDRs. "Merchant Banker" means a Merchant Banker as defined in sub-regulation (cb) of regulation 2 of the Securities and Exchange Board (Merchant Bankers) Regulations, 1992. "Overseas Custodian Bank" means a banking company which is established in a country outside India and which acts as custodian for the equity shares of Issuing Company, against which IDRs are proposed to be issued, by having a custodial arrangement or agreement with the Domestic Depository or by establishing a place of business in India.