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FEMA - Highlights / Catch Notes

Home Highlights January 2020 Year 2020 This

Contravention of FEMA - Investment in three step-down ...


Entity Violated FEMA by Investing in Subsidiaries Without RBI Approval; Penalty Imposed Lower Than Usual Amount.

January 15, 2020

Case Laws     FEMA     AT

Contravention of FEMA - Investment in three step-down subsidiaries through Wholly Owned Subsidiary (WOS) without the permission of the RBI - the Adjudicating Authority has taken a lenient view and has imposed penalty lessor than the proportionate penalty - Order confirmed.

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