What is compounding of contraventions under FEMA?
BRIEF INTRODUCTION The Foreign Exchange Management Act, 1999 (FEMA) is an act of the Parliament of India to consolidate and amend the laws regarding exchange with the target of facilitating external trade & payments and promoting the orderly development and maintenance of exchange market in India. Contravention may be a breach or non-compliance of the provisions of The Foreign Exchange Management Act, 1999 (FEMA), and therefore the rules, regulations, notifications, orders …