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2016 (12) TMI 1805 - GUJARAT HIGH COURTCompounding application of the petitioner Company and/or its Director/s - HELD THAT:- It is provided that in case if the petitioner Company and its Director/s file an independent application under the provisions of the Foreign Exchange Management Act, 1999 and/or the Foreign Exchange (Compounding Proceedings) Rules, 2000, before respondent No.2 - Authority, the same shall be considered on their own merits, within a period of 180 days statutorily provided under the Rules. The order that may be passed and communicated to the petitioner Company or its Director/s should be a reasoned order. Learned counsel for the petitioners states that compounding application of the petitioner Company and/or its Director/s shall be filed with all complete details and documents latest by 02nd January, 2017.
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