Which among the following is an incorrect statement:

[A] The regulations relating to the issue of Indian Depository Receipts contained in Securities and Exchange Board of India.
[B] The Standard Chartered PLC became the first global company to file for an issue of Indian depository receipts in India
[C] The Indian Depository Receipts derive their value from the shares deposited with custodians.
[D] In case of Indian Depository Receipts, The Custodian is always a foreign entity

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