Compounding of contraventions under FEMA allows administrative settlement preventing further proceedings once compounded. Compounding under FEMA provides an administrative settlement whereby the Compounding Authority may compound specified contraventions on application, after which no further proceedings shall be initiated or continued; the Reserve Bank is empowered to compound most contraventions (excluding certain hawala related contraventions retained by the Directorate of Enforcement), and applicants must submit prescribed form, fee and documents to the Compounding Authority, which will decide within 180 days and require payment of the compounding sum within fifteen days of the order.
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 contraventions under FEMA allows administrative settlement preventing further proceedings once compounded.
Compounding under FEMA provides an administrative settlement whereby the Compounding Authority may compound specified contraventions on application, after which no further proceedings shall be initiated or continued; the Reserve Bank is empowered to compound most contraventions (excluding certain hawala related contraventions retained by the Directorate of Enforcement), and applicants must submit prescribed form, fee and documents to the Compounding Authority, which will decide within 180 days and require payment of the compounding sum within fifteen days of the order.
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