Compounding of contraventions under FEMA

This PwC Alert summarizes the recent Reserve Bank of India (RBI) Circular which has delegated powers to its Regional Offices for compounding certain contraventions in respect of foreign direct investments.  

This News alert would be of relevance to companies that have contravened regulations of Foreign Exchange Management Act, 1999, specially to one that have received share subscription moneys from non-resident investors and have not reported receipt of the same within the prescribed timelines, and/or failed to issue/report shares within prescribed timelines.

For more details, please click on the attachment below...

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