KNOW LAW on Violation Under FEMA & Compounding of Offences
1
KNOW LAW Labz Notification 1 of 2011 Yours’ corporate legal position as on date brought to you by lawlabz.com (get your lawlabz login now) For Private Circulation Only. The copyright of this notification is retained by Lawlabz. Notwithstanding anything contained herein, this notification does not amount to opinion or consultation of any nature. One Pager To become your legal partner in laying your legal path ahead, Lawlabz intensively studies your expectation, analyses the requirement under various laws applicable and offers a PERSONALISED corporate solution on FEMA (India Entry laws & legal expansion abroad), Industrial Laws (for your factory), Corporate Laws, Securities/SEBI Laws (for listed), FIPB, Due Diligence & other Specialised Corporate Legal Makeover services. Happy consulting with www.lawlabz.com VIOLATION UNDER FEMA & COMPOUNDING OF OFFENCES Whenever you do a transaction involving foreign exchange, it may so happen that certain reporting requirement is missed out or transaction should have been done only with certain approvals which were not known at the time of carrying out such transaction. [click here to Understand more...] Watch video on Compounding... At Lawlabz, we offer 360 O Personalised VIRTUAL Corporate Solutions by offering COMPLETE online legal support for your organisation since its set-up as your entrepreneurial venture, during its management as a corporate entity or a manufacturing industry and closure of unwanted company’s which are not having any significant business of its own. Lawlabz Foreign Exchange Services Starting a Joint Venture or Subsidiary in India Company > FEMA & Corporate Law Loan to India from Foreign Country > FEMA > External Commercial Borrowings related Compliances Foreign Investment into India Company > FDI > FEMA Compliances FEMA applicability is based on Residential status of Individual/Company/Entity/Branch Investment in Proprietorship or Partnership firms or any other association in IndiaFDI>FIPB Foreign Exchange Payments Foreign Exchange Receipts Investment in Venture Capital Fund or Undertaking SEBI > FDI Investment in trust or other entities in India FDI > FIPB Dealing/transferring/stamping or issue of share certificates or appointment/removal of shareholders Have a place in India for the purpose of setting up your company on a permanent or temporary basis Setting up/expanding a business unit/operations/manufacturing/trading in goods or services in India Fast track set up-of industry under a umbrella by consolidating the approvals as an unit in SEZ Legally Yours, Happy Consulting with www.lawlabz.com ƪ FEMA ƪ Corporate Law ƪ Industry Law ƪ SEBI ƪ Diligence 360 o Personalised Corporate Solutions Requirement under Indian laws: FEMA requires the defaulting corporate to voluntarily agree & pay the prescribed sum to Government and Government in turn agrees NOT to continue prosecution for the committed default or withdraws the prosecution where a show cause notice was sent. Myth buster: Don’t wait until your company receives a SHOW CAUSE NOTICE from RBI. Remember, the magnitude of the penalty will be comparatively LESS on voluntary self-disclosure of violations rather than RBI proceeding with an action against your company. Caution point!!! Even a delay in filing of a form or omission of any other minor reporting requirement is an offence. So remember, you may have to compound for delayed filing too!!! What is the penal action for non- filing of FCGPR? Whether RBI takes FEMA violation seriously? What if RBI requirement is not complied with? How to set right FEMA violation made earlier? Have you made payments to your employees borrowing from your foreign holding company? Did you borrow for working capital of your Indian subsidiary company? Consult @ Lawlabz for your Solutions now… (Click here ) Lawlabz Solutions FEMA Lawlabz Services Entrepreneur
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KnowLaw shall be a medium covering basic practical aspects of the requirements under Indian laws with caution points that every company should consider while setting up or functioning in India. Lawlabz has segmented this OnePager to serve as a reminder on legal compliance aspects by demystifying & creating awareness on the legal jargon's & available legal facilities through reading & listening mechanism.Yes, we are excited to introduce before you "KNOW LAW" [a video-cum-writing initiative] as a OnePager. This will serve as "Yours’ corporate legal position as on date" forever.Happy online consulting with Lawlabz!!!Legally yours,www.lawlabz.com
Transcript of KNOW LAW on Violation Under FEMA & Compounding of Offences
KNOW LAW Labz Notification 1 of 2011
Yours’ corporate legal position as on date brought to you by lawlabz.com (get your lawlabz login now)
For Private Circulation Only. The copyright of this notification is retained by Lawlabz. Notwithstanding anything
contained herein, this notification does not amount to opinion or consultation of any nature. One Pager
To b
eco
me
you
r le
gal
par
tner
in
lay
ing
you
r le
gal
pat
h a
hea
d,
Law
lab
z in
ten
sive
ly s
tud
ies
you
r ex
pec
tati
on
, an
alys
es t
he
req
uir
emen
t u
nd
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ario
us
law
s
app
licab
le a
nd
off
ers
a P
ERSO
NA
LISE
D c
orp
ora
te s
olu
tio
n o
n F
EMA
(In
dia
En
try
law
s &
leg
al e
xpan
sio
n a
bro
ad),
In
du
stri
al L
aws
(fo
r yo
ur
fact
ory
), C
orp
ora
te
Law
s, S
ecu
riti
es/S
EBI L
aws
(fo
r lis
ted
), F
IPB
, Du
e D
ilige
nce
& o
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Sp
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Co
rpo
rate
Leg
al M
akeo
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. Hap
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.law
lab
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m
VIOLATION UNDER
FEMA & COMPOUNDING
OF OFFENCES
Whenever you do a transaction involving foreign
exchange, it may so happen that certain reporting
requirement is missed out or transaction should have
been done only with certain approvals which were not
known at the time of carrying out such transaction.
[click here to Understand more...]
Watch video on Compounding...
At Lawlabz, we offer 360O Personalised VIRTUAL Corporate
Solutions by offering COMPLETE online legal support for
your organisation since its set-up as your entrepreneurial
venture, during its management as a corporate entity or a
manufacturing industry and closure of unwanted company’s
which are not having any significant business of its own.
Lawlabz Foreign Exchange Services Starting a Joint Venture or Subsidiary in India Company > FEMA &
Corporate Law
Loan to India from Foreign Country > FEMA > External Commercial Borrowings related Compliances
Foreign Investment into India Company > FDI > FEMA Compliances
FEMA applicability is based on Residential status of Individual/Company/Entity/Branch
Investment in Proprietorship or Partnership firms or any other association in IndiaFDI>FIPB
Foreign Exchange Payments Foreign Exchange Receipts Investment in Venture Capital Fund or Undertaking SEBI > FDI Investment in trust or other entities in India FDI > FIPB Dealing/transferring/stamping or issue of share certificates or
appointment/removal of shareholders Have a place in India for the purpose of setting up your company
on a permanent or temporary basis Setting up/expanding a business
unit/operations/manufacturing/trading in goods or services in India Fast track set up-of industry under a umbrella by consolidating the
approvals as an unit in SEZ Legally Yours,
Happy Consulting with www.lawlabz.com
ƪ FEMA ƪ Corporate Law ƪ Industry Law ƪ SEBI ƪ Diligence
360o Personalised Corporate Solutions
Requirement under Indian laws:
FEMA requires the defaulting
corporate to voluntarily agree &
pay the prescribed sum to
Government and Government in
turn agrees NOT to continue
prosecution for the committed
default or withdraws the
prosecution where a show cause
notice was sent.
Myth buster: Don’t wait until your
company receives a SHOW CAUSE
NOTICE from RBI. Remember, the
magnitude of the penalty will be
comparatively LESS on voluntary
self-disclosure of violations rather
than RBI proceeding with an action
against your company.
Caution point!!!
Even a delay in filing of a form or
omission of any other minor
reporting requirement is an
offence. So remember, you may
have to compound for delayed
filing too!!!
What is the penal action for non-
filing of FCGPR? Whether RBI takes
FEMA violation seriously?
What if RBI requirement is not
complied with? How to set right
FEMA violation made earlier?
Have you made payments to your
employees borrowing from your
foreign holding company? Did you
borrow for working capital of your
Indian subsidiary company?
Consult @ Lawlabz for your
Solutions now… (Click here)
Law
lab
z So
luti
on
s
FEM
A
Law
lab
z Se
rvic
es
En
trep
ren
eur
