RBI compounding order under FEMA for compliance lapse
TIGERLOGS · price
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Tiger Logistics received a Compounding Order from RBI Foreign Exchange Department under Section 15 of FEMA for non-compliance with post disinvestment valuation reporting requirements. The contravention relates to Regulation 16(1)(iii) of FEMA Transfer or Issue of Foreign Security Regulations, 2004. The company paid INR 59,981 to compound the matter. The issue is fully settled with no material impact on operations or financials.
Minor regulatory matter closed. Compounding fee of INR 59,981 paid. No material impact on operations or financials.