Procedure for compounding from rbi under fema

Others 1397 views 1 replies

Dear all,

 

Any one can plz provide me the detailed information  about the penalty if person fails to submit form FC-GPR with Designated AD branch within limits. In case of Allotement of shares  to non resident. And the procedure for compounding of Contravention of FEMA , Under whose Authority it is Compounded ??

If any one handle this matter please provide me the DRAFT of petition for Compounding from RBI Authority under FEMA .

Thanks.

 

Replies (1)

Dear Satish,

With respect to compounding of FEMA offences please follow the linl below:-

 A.P. (DIR Series) Circular No. 56 [RBI/2009-10/508] clarifies the method to apply for such compounding, the scope and manner of compounding, issuance of compounding order, prerequisites of compounding process etc. to clarify the framework to this effect. 

Thanks & Regards

Amit Mishra

BSamrish & Co.

New Delhi


CCI Pro

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