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Learn MoreThis circular states that powers of compounding have been further delegated to Regional Offices with immediate effect as under: –
Since three divisions of Foreign Investment Division (FID) viz. Liaison/Branch/Project office (LO/BO/ PO) division, Non Resident Foreign Account Division (NRFAD) and Immovable Property (IP) Division has been transferred to FED, CO Cell, Reserve Bank of India, 6, Sansad Marg, New Delhi – 110001 with effect from 15th July, 2014, the officers attached to the FED, CO Cell, New Delhi office are now authorised to compound the contraventions as under: –
The powers, as mentioned above, to compound contraventions have been delegated to all Regional Offices (except Kochi and Panaji) and FED, CO Cell, New Delhi respectively without any limit on the amount of contravention. Kochi and Panaji Regional offices can compound the above contraventions for amountof contravention below Rupees one hundred lakh (Rs.1,00,00,000/-). The contraventions of Rupees one hundred lakh (Rs.1,00,00,000/-) or more under the jurisdiction of Panaji and Kochi Regional Offices and all other contraventions of FEMA, not covered above, will continue to be compounded at Cell for Effective Implementation of FEMA (CEFA), Foreign Exchange Department, 5th floor, Amar Building, Sir P. M. Road, Fort, Mumbai 400001.