There have been some clarifications made regarding the ability of RBI to compound contraventions under FEMA, the ability of enforcement directorate to compound contraventions under FEMA, and delegation of powers to regional offices regarding the compounding of contraventions under FEMA. Those individuals who contravene any of the provisions outlined in the Act or any laws, announcements, restrictions, orders, or advice published by the RBI while practicing the powers of the Act, or those individuals who contravene any situations subject to RBI permissions, shall be liable for as much as three times the amount involved in such a contravention. There is […]