Compounding for FEMA contraventions

RBI has vide its circular dated 13th December 2011 delegated the power of compounding for FEMA contraventions to the Regional Offices at Ahmedabad, Bangalore, Chennai, New Delhi, Mumbai, Hyderabad & Kolkata without any amount limits and to the Regional Offices at Bhopal, Bhubaneshwar, Chandigarh, Guwahati, Jaipur, Jammu, Kochi, Patna & Panaji upto an amount of Rs.100,000/-. The contraventions involve delay in reporting inward remittance, delay in filing of form FC-GPR and delay in issue of shares upto 180 days from the receipt of remittance - all FDI concerned. Copy of the RBI circular can be found here