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of <h1>Compounding Authority under section 15(1) includes ED officers above Deputy Director rank and RBI officers above AGM rank</h1> The Foreign Exchange Compounding Proceedings Rules 2000 defines 'Compounding Authority' as persons authorized by the Central Government under section 15(1) of the Act. This includes Enforcement Directorate officers not below Deputy Director or Deputy Legal Adviser rank, and Reserve Bank of India officers not below Assistant General Manager rank. These authorities have the power to compound foreign exchange violations under the statutory framework.
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