This is second in the series of what is an Idr..let us see who are the participants:

Main Players: Issuer Company, Overseas Custodian, the domestic depository, and the Registrar and Transfer Agent

Issuer company: Foreign Listed Company – i do not know whether there is any quality criteria.

The investor gets an exposure to the GLOBAL COMPANY, so remember there is global risk. If Stanchart (Standard Chartered Bank) has a problem in any part of the world and the Stan C shares fall in UK, Indian IDR will fall.

Domestic Depository: Is a Sebi registered Custodian will issue the IDR and acts as a trustee for the IDR holders – for more details read the Deposit Agreement.

Overseas Custodian: Issuer Company issues shares to the Overseas Custodian who holds it on behalf of the Domestic Depository on the basis of which the DD issues IDR in India. It is a foreign entity appointed by the DD

Registrar and Transfer Agent: Provides services to the issuer company, DD, and IDR holders in India. Does record keeping, coordinating corporate actions, handling investor grievances, etc.

In the Standard Chartered Bank IDR the participants are:

Issuer Company: Standard Chartered PLC, UK

Domestic Depository: Standard Chartered Bank, Mumbai.

Overseas Custodian: The Bank of New York Mellon

could not confirm the Registrar. Not sure if it is KARVY consultants.