Presently, all applications for compounding are received and processed by the Compounding Authority at RBI Central Office at Mumbai.
This Circular has decentralised compounding contraventions in respect of the following at its Regional Office:
(i) Delay in reporting of inward remittance,
(ii) Delay in filing of form FC-GPR after allotment of shares, and
(iii) Delay in issue of shares beyond 180 days.
All applications must be made to the Regional Offices at:
(i) Bhopal, Bhubaneshwar, Chandigarh, Guwahati, Jaipur, Jammu, Kanpur, Kochi, Patna and Panaji for amount of contravention below Rupees one crore (Rs.10,000,000).
(ii) Ahmedabad, Bangalore, Chennai, Hyderabad, Kolkata, Mumbai and New Delhi for amount of contravention without any limit.
All applications other than those dealt with by the Regional Offices will continue to be dealt with by the Compounding Authority at RBI Central Office at Mumbai.
Also, annexed to this Circular are formats required to be submitted along with the compounding application in respect of the following contraventions :
(1) Details to be furnished along with application for compounding of contravention relating to Foreign Direct Investment in India.
(2) Details to be furnished along with application for compounding of contravention relating to External Commercial Borrowing.
(3) Details to be furnished along with application for compounding of contravention relating to overseas investment.
(4) Details to be furnished along with application for compounding of contravention relating to branch/liaison office in India.
