Entity Violated FEMA by Investing in Subsidiaries Without RBI Approval; Penalty Imposed Lower Than Usual Amount. https://www.taxtmi.com/highlights?id=51227 Contravention of FEMA - Investment in three step-down subsidiaries through Wholly Owned Subsidiary (WOS) without the permission of the RBI - the Adjudicating Authority has taken a lenient view and has imposed penalty lessor than the proportionate penalty - Order confirmed. en-us Wed, 15 Jan 2020 06:15:08 +0530 Wed, 15 Jan 2020 06:15:08 +0530 TaxTMI RSS Generator Entity Violated FEMA by Investing in Subsidiaries Without RBI Approval; Penalty Imposed Lower Than Usual Amount. https://www.taxtmi.com/highlights?id=51227 Contravention of FEMA - Investment in three step-down subsidiaries through Wholly Owned Subsidiary (WOS) without the permission of the RBI - the Adjudicating Authority has taken a lenient view and has imposed penalty lessor than the proportionate penalty - Order confirmed. Highlights FEMA Wed, 15 Jan 2020 06:15:08 +0530 https://www.taxtmi.com/highlights?id=51227