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2011 (9) TMI 428 - HC - FEMACompounding - Foreign Exchange from NRO for Equity Subscription - Amount received in names of director instead of sending the amount towards credit to the company’s account - Held That:- Facts of each case to be seen before compounding .There is a public interest element in the enactment of regulatory statutes such as the FEMA. Whether compounding of a breach would compromise the public interest involved in the enforcement of law has to be considered in the facts of each case. With regard to the sensitivity nature of the contravention the matter will have to be further investigated by the Directorate of Enforcement
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