Compounding of Contraventions under FEMA, 1999 - As on Oct 01, 2024

Chapters / List

1. What is meant by contravention and compounding of contravention?

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2. Who can apply for compounding?

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3. When should one apply for compounding?

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4. What is the procedure for applying for compounding?

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5. Are any fees required to be paid for seeking compounding?

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6. What are the details required to be filled in the application form?

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7. Where should one apply for compounding?

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8. Can an application for compounding be sent to the Reserve Bank pending fulfillment of certain obligations?

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9. What are sensitive contraventions?

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10. Is it mandatory to appear for the personal hearing?

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11. Can the applicant authorise another person to attend the personal hearing?

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12. How is the compounding process brought to conclusion?

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13. What is the criteria for calculation of compounding amount?

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14. When should the amount indicated in the order be paid?

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15. How does the application for compounding finally get disposed of?

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16. What happens if the amount is not paid within 15 days of the order?

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17. Can there be an appeal against the order of the Compounding Authority?

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18. What is the timeframe for completing the compounding process?

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19. Where can one get more details about compounding?

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