Compounding of FEMA contraventions: delegation to regional offices with updated classification and disclosure under the Master Direction. Compounding powers under FEMA have been delegated to the Reserve Bank's Regional Offices/Sub Offices to compound specified contraventions under the FEM (Non Debt Instruments) Rules, 2019 and FEM (Mode of Payment and Reporting of Non Debt Instruments) Regulations, 2019, covering issuance of shares without approvals, receipt of investment, and specified reporting/payment obligations. The Reserve Bank has discontinued the separate 'technical' classification and will regularise such contraventions by imposing minimal compounding amounts per the Master Direction. For compounding orders on or after the stated date, only summary information (applicant name, provisions compounded, date of order and compounding amount) shall be published on the Bank's website.
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Provisions expressly mentioned in the judgment/order text.
Compounding of FEMA contraventions: delegation to regional offices with updated classification and disclosure under the Master Direction.
Compounding powers under FEMA have been delegated to the Reserve Bank's Regional Offices/Sub Offices to compound specified contraventions under the FEM (Non Debt Instruments) Rules, 2019 and FEM (Mode of Payment and Reporting of Non Debt Instruments) Regulations, 2019, covering issuance of shares without approvals, receipt of investment, and specified reporting/payment obligations. The Reserve Bank has discontinued the separate 'technical' classification and will regularise such contraventions by imposing minimal compounding amounts per the Master Direction. For compounding orders on or after the stated date, only summary information (applicant name, provisions compounded, date of order and compounding amount) shall be published on the Bank's website.
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