2016 (12) TMI 1805

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..... ng Proceedings) Rules, 2000, before respondent No.2 - Authority, the same shall be considered on their own merits, within a period of 180 days statutorily provided under the Rules. The order that may be passed and communicated to the petitioner Company or its Director/s should be a reasoned order. Learned counsel for the petitioners states that compounding application of the petitioner Company .....

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..... Company and its Director/s file an independent application under the provisions of the Foreign Exchange Management Act, 1999 and/or the Foreign Exchange (Compounding Proceedings) Rules, 2000, before respondent No.2 - Authority, the same shall be considered on their own merits, within a period of 180 days statutorily provided under the Rules. The order that may be passed and communicated to the pet .....

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