Compounding of FEMA contraventions enables voluntary settlement upon quantification and payment, subject to eligibility and process safeguards. Compounding under FEMA, 1999 is a voluntary, discretionary mechanism permitting settlement of admitted contraventions by payment of a quantified sum; the RBI may compound all FEMA contraventions except clause (a) of Section 3, which is handled by the Directorate of Enforcement. Applications must be in prescribed form with supporting annexures and fee, and will be disposed within 180 days. Compounding is unavailable where amounts are not quantifiable, where a similar contravention was compounded within three years, where required statutory approvals are not obtained, or where money laundering, national security or serious regulatory concerns require referral to enforcement agencies.
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.
Compounding of FEMA contraventions enables voluntary settlement upon quantification and payment, subject to eligibility and process safeguards.
Compounding under FEMA, 1999 is a voluntary, discretionary mechanism permitting settlement of admitted contraventions by payment of a quantified sum; the RBI may compound all FEMA contraventions except clause (a) of Section 3, which is handled by the Directorate of Enforcement. Applications must be in prescribed form with supporting annexures and fee, and will be disposed within 180 days. Compounding is unavailable where amounts are not quantifiable, where a similar contravention was compounded within three years, where required statutory approvals are not obtained, or where money laundering, national security or serious regulatory concerns require referral to enforcement agencies.
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