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Delegation of compounding powers expanded so regional and New Delhi offices may compound specified FEMA contraventions. Delegation of compounding authority under the Foreign Exchange Management Act, 1999 and the Compounding Rules, 2000 is extended so Regional Offices (except Kochi and Panaji) may compound delays in submission of Form FC TRS and taking on record transfers without certified FC TRS without limit; Kochi and Panaji may compound such contraventions below a specified monetary threshold while higher value matters and all other FEMA contraventions remain with CEFA, Mumbai. FED, CO Cell, New Delhi officers are authorised to compound contraventions relating to immovable property acquisitions/transfers, establishment of branch/liaison/project offices, and deposit regulations, with applications to be filed to the appropriate office by territorial jurisdiction.
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Delegation of compounding powers expanded so regional and New Delhi offices may compound specified FEMA contraventions.
Delegation of compounding authority under the Foreign Exchange Management Act, 1999 and the Compounding Rules, 2000 is extended so Regional Offices (except Kochi and Panaji) may compound delays in submission of Form FC TRS and taking on record transfers without certified FC TRS without limit; Kochi and Panaji may compound such contraventions below a specified monetary threshold while higher value matters and all other FEMA contraventions remain with CEFA, Mumbai. FED, CO Cell, New Delhi officers are authorised to compound contraventions relating to immovable property acquisitions/transfers, establishment of branch/liaison/project offices, and deposit regulations, with applications to be filed to the appropriate office by territorial jurisdiction.
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