KNOW LAW on Violation Under FEMA & Compounding of Offences
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Transcript of KNOW LAW on Violation Under FEMA & Compounding of Offences
KNOW LAW Labz Notification 1 of 2011
Yours’ corporate legal position as on date brought to you by lawlabz.com (get your lawlabz login now)
For Private Circulation Only. The copyright of this notification is retained by Lawlabz. Notwithstanding anything
contained herein, this notification does not amount to opinion or consultation of any nature. One Pager
To b
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me
you
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gal
par
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in
lay
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you
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gal
pat
h a
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Law
lab
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ten
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tud
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you
r ex
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on
, an
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req
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emen
t u
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us
law
s
app
licab
le a
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off
ers
a P
ERSO
NA
LISE
D c
orp
ora
te s
olu
tio
n o
n F
EMA
(In
dia
En
try
law
s &
leg
al e
xpan
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n a
bro
ad),
In
du
stri
al L
aws
(fo
r yo
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fact
ory
), C
orp
ora
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Law
s, S
ecu
riti
es/S
EBI L
aws
(fo
r lis
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), F
IPB
, Du
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ilige
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& o
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Sp
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Co
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Leg
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lab
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VIOLATION UNDER
FEMA & COMPOUNDING
OF OFFENCES
Whenever you do a transaction involving foreign
exchange, it may so happen that certain reporting
requirement is missed out or transaction should have
been done only with certain approvals which were not
known at the time of carrying out such transaction.
[click here to Understand more...]
Watch video on Compounding...
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which are not having any significant business of its own.
Lawlabz Foreign Exchange Services Starting a Joint Venture or Subsidiary in India Company > FEMA &
Corporate Law
Loan to India from Foreign Country > FEMA > External Commercial Borrowings related Compliances
Foreign Investment into India Company > FDI > FEMA Compliances
FEMA applicability is based on Residential status of Individual/Company/Entity/Branch
Investment in Proprietorship or Partnership firms or any other association in IndiaFDI>FIPB
Foreign Exchange Payments Foreign Exchange Receipts Investment in Venture Capital Fund or Undertaking SEBI > FDI Investment in trust or other entities in India FDI > FIPB Dealing/transferring/stamping or issue of share certificates or
appointment/removal of shareholders Have a place in India for the purpose of setting up your company
on a permanent or temporary basis Setting up/expanding a business
unit/operations/manufacturing/trading in goods or services in India Fast track set up-of industry under a umbrella by consolidating the
approvals as an unit in SEZ Legally Yours,
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ƪ FEMA ƪ Corporate Law ƪ Industry Law ƪ SEBI ƪ Diligence
360o Personalised Corporate Solutions
Requirement under Indian laws:
FEMA requires the defaulting
corporate to voluntarily agree &
pay the prescribed sum to
Government and Government in
turn agrees NOT to continue
prosecution for the committed
default or withdraws the
prosecution where a show cause
notice was sent.
Myth buster: Don’t wait until your
company receives a SHOW CAUSE
NOTICE from RBI. Remember, the
magnitude of the penalty will be
comparatively LESS on voluntary
self-disclosure of violations rather
than RBI proceeding with an action
against your company.
Caution point!!!
Even a delay in filing of a form or
omission of any other minor
reporting requirement is an
offence. So remember, you may
have to compound for delayed
filing too!!!
What is the penal action for non-
filing of FCGPR? Whether RBI takes
FEMA violation seriously?
What if RBI requirement is not
complied with? How to set right
FEMA violation made earlier?
Have you made payments to your
employees borrowing from your
foreign holding company? Did you
borrow for working capital of your
Indian subsidiary company?
Consult @ Lawlabz for your
Solutions now… (Click here)
Law
lab
z So
luti
on
s
FEM
A
Law
lab
z Se
rvic
es
En
trep
ren
eur