The rise of blank cheque companies: It's about time the government sat up and took note

Currently, access to foreign capital markets for Indian companies is possible only through global depository receipts (GDRs), or American depositary receipts (ADRs). These require companies to be listed on the Indian stock exchange(s). While GoI has recently given a go-ahead to the long-pending demand of direct listing of Indian companies in overseas stock exchanges, detailed guidelines are yet to be issued. Meanwhile, special purpose