Compounding under FEMA

This query is : Resolved

Abhishek Chawla (Querist)
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04 August 2009 Kindly tell me that if we apply for compounding with RBI then what are the implications which could arise and to what extent after application being made.

CA. Anuj Gupta

CA. Anuj Gupta (Expert)
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10 February 2013 The RBI shall give you personal hearing to give your version of reasons for the offence for which compounding is sought for, then after that normally within week you shall get the compounding order and you are required to pay the compounding amount within 15 days of receipt of order.

If compounding amount is not paid within 15 days then the compounding order becomes NULL.

Anuj
Femaquery@gmail.com

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