https://www.taxtmi.com/circulars?id=11756 When a contravention is identified or brought to the Reserve Bank other than via the prescribed compounding application, the Bank will determine whether it is technical/minor (administrative/cautionary advice), material (requires compounding under the prescribed procedure), or sensitive/serious (refer to the Directorate of Enforcement). If an entity files a suo moto compounding application admitting the contravention, it shall not be treated as technical or minor and the compounding process will be initiated under section 15(1) of FEMA read with the compounding rules. en-us Tue, 31 Jul 2012 00:00:00 +0530 Wed, 01 Aug 2012 11:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=11756 When a contravention is identified or brought to the Reserve Bank other than via the prescribed compounding application, the Bank will determine whether it is technical/minor (administrative/cautionary advice), material (requires compounding under the prescribed procedure), or sensitive/serious (refer to the Directorate of Enforcement). If an entity files a suo moto compounding application admitting the contravention, it shall not be treated as technical or minor and the compounding process will be initiated under section 15(1) of FEMA read with the compounding rules. Circulars FEMA Tue, 31 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/circulars?id=11756