Compounding of FEMA contraventions allows designated authorities to accept payments to foreclose proceedings under prescribed procedure. Compounding of FEMA contraventions is governed by Section 15 and the 2024 Compounding Rules, under which designated RBI and Enforcement Directorate officers act as Compounding Authorities. Applications in the prescribed form with the prescribed fee must be decided within 180 days; the compounding sum is payable within fifteen days by permitted electronic or bank modes. Jurisdictional thresholds determine which officer may compound based on the amount involved. A three-year bar prevents compounding for similar contraventions within three years of a prior compounding. Failure to pay the compounding sum negates the application and exposes the person to the Act's contravention provisions.
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 allows designated authorities to accept payments to foreclose proceedings under prescribed procedure.
Compounding of FEMA contraventions is governed by Section 15 and the 2024 Compounding Rules, under which designated RBI and Enforcement Directorate officers act as Compounding Authorities. Applications in the prescribed form with the prescribed fee must be decided within 180 days; the compounding sum is payable within fifteen days by permitted electronic or bank modes. Jurisdictional thresholds determine which officer may compound based on the amount involved. A three-year bar prevents compounding for similar contraventions within three years of a prior compounding. Failure to pay the compounding sum negates the application and exposes the person to the Act's contravention provisions.
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