Compounding of offences under FEMA, 1999
Contravention and Penalties under FEMA, 1999 Section 13- Penalties If any person contravenes any provisions of the act, or rule, regulation made their under or contravenes any order of the RBI be liable to be penalty as follow Amount is quantifiable Amount is not quantifiable up to thrice the sum involved in such contravention Up to 2 Lakh Rupees If contravention is continuing one, further penalty which may extend to 5000/- for every day after the first day during which contravention continues. Any adjudicating authority adjudging any contravention, if he think fit in addition to any penalty which may impose for such contravention direct that any currency, security or any other money or property in respect of which contravention has taken place shall be confiscated to the Central Government and further direct that the foreign exchange holding if any, of person committing the contraventions or any part thereof, shall be brought...