Power to compound contraventions sets delegated monetary thresholds and procedural requirements under foreign exchange law. Power to compound contraventions under FEMA is delegated to specified Reserve Bank officers according to monetary thresholds; compounding requires the amount to be quantifiable. A contravention is not eligible for compounding if it occurs within three years of a previously compounded contravention by the same person, with later contraventions treated as first contraventions. Designated officers act under the Governor's direction and compounding applications must be filed in the prescribed form with the Exchange Control Department alongside the prescribed demand draft fee.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Power to compound contraventions sets delegated monetary thresholds and procedural requirements under foreign exchange law.
Power to compound contraventions under FEMA is delegated to specified Reserve Bank officers according to monetary thresholds; compounding requires the amount to be quantifiable. A contravention is not eligible for compounding if it occurs within three years of a previously compounded contravention by the same person, with later contraventions treated as first contraventions. Designated officers act under the Governor's direction and compounding applications must be filed in the prescribed form with the Exchange Control Department alongside the prescribed demand draft fee.
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