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Compounding Under FEMA

Compounding Under FEMA

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  • 1. CA. Sudha G. Bhushan
  • 2. Brief overview FEMAEnforcement under FEMAAdjudication under FEMAAppeal under FEMACompounding under FEMA Meaning Authorities Procedure Application Practical aspects
  • 3. Section 36Section 37Officers of Enforcement Directors of enforcement Special Directorate of Enforcement Additional Director of Enforcement Deputy Directors of Enforcement Deputy Legal Adviser Assistant Director of Enforcement Assistant Legal Adviser
  • 4. Vodafone
  • 5. Following has been appointed as theAdjudicating Authority under FEMA [undersection 16 of the Act vide S.O 535(E), dated 1-6-2000 to hold an enquiry under Section 13 ofthe Act]. Directors of Enforcement Special Directorate of Enforcement Additional Director of Enforcement Deputy Directors of Enforcement
  • 6. Director of Enforcement have the jurisdictionover the cases involving an amount exceedingRs. one crore. Special Director of Enforcement I,II and III have the jurisdiction over the casesinvolving amount exceeding Rs.One Crore[jurisdiction over specified zones] AdditionalDirector have the jurisdiction over the casesinvolving amount of Rs.75 lakhs but not over 1crore. Deputy Director’s jurisdiction is on thecases in which amount involved does not exceedRs. 75 Lakhs.
  • 7. Adjudicating authority for the purpose ofadjudication in respect of contraventionunder Section 6(3)(g) and 7(1)(a) isCommissioner of Customs and CentralExcise.[Section 6(3)(g) relates to restrictionson export, import or holding of currency orcurrency notes] and 7(1)(a) relates tofurnishing of information relating to export toRBI].
  • 8. Special Director (Appeals)Appeal against Order passed by Adjudicating Authority Appellate Tribunal
  • 9. • Adjudicating authority being Assistant Director ofSpecial Director Enforcement or a Deputy (Appeals) Director of enforcement • Adjudicating authority not being Assistant Director Appellate /Deputy Director of Tribunal enforcement
  • 10. Special Director (Appeals) Appellate Tribunal High Court
  • 11. Not defined
  • 12. Sum Involved in Authorized PersonContraventionRs 5 lakhs and below Deputy DirectorAbove Rs.5 lakhs but of below Addl. Director of EnforcementRs.10 lakhs DirectorateAbove Rs 10 lakhs but of below Special DirectorRs. 50 lakhsAbove Rs. 50 lakhs but with Special Director with Legalbelow Rs. 1 crore Adviser of Deputy Enforcement DirectorateRs.1 crore or more Director of Enforcement with Special Director of Enforcement Directorate
  • 13. Sum Involved in Authorized PersonContraventionRs 10 lakhs and below Assistant General Manager of RBIAbove Rs.10 lakhs but ofbelow Rs.40 lakhs Deputy General Manager of RBIAbove Rs 40 lakhs but ofbelow Rs. 1 Crore General Manager of RBIRs.1 crore or more Chief General Manager of RBI
  • 14. Amount involved in Contravention???? ?????FIPB/RBI???????? Procedural Defaults ????? Already admitting of Offence
  • 15. YourExperiences
  • 16. Thanks.