| Consider the following statements |
| 1. Indian Depository Receipt is an instrument denominated in Indian Rupees in the form of a depository receipt created by' the custodian of securities registered with the Securities and Exchange Board of India against the underlying equity of issuing company. |
| 2. Standard Chartered PLC became the first global company to file for an issue of Indian depository receipts in India. Which of the statements given above is/are correct? |
A) Only 1
B) Only 2
C) Both 1 and 2
D) neither 1 nor 2
Correct Answer: C
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