Compounding under FEMA: time-bound hearings and orders specifying contraventions, required copies, and public summary publication. The Compounding Authority under FEMA must afford an opportunity of being heard and pass a compounding order, ordinarily within 180 days of receipt of a ... Summary
Compounding under FEMA: time-bound hearings and orders specifying contraventions, required copies, and public summary publication.
The Compounding Authority under FEMA must afford an opportunity of being heard and pass a compounding order, ordinarily within 180 days of receipt of a complete application, based on application averments and hearing submissions. Applicants are encouraged to appear personally or virtually and representation by legal experts is discouraged; absence allows decision on available documents. The compounding order must specify the provisions contravened and details of the contravention. One copy is provided to the applicant and, where applicable after a complaint under section 16(3), to the Adjudicating Authority, and summary information of orders is to be published on the Reserve Bank's website.
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