Type of Contravention | Amount of Contravention |
1. Reporting Contravention A. FEMA 20Para 9(1)(A), 9(1)(B), part B of FC(GPR), FCTRS (Reg. 10), and taking on record FCTRS (Reg. 4) B. FEMA 3Non submission of ECB statements C. FEMA 120Non reporting/delay in reporting of acquisition/setup of subsidiaries/step down subsidiaries /changes in the shareholding pattern D. Any other reporting contraventions (except those in Row 2 below) E. Reporting contraventions by LO/BO/PO |
Rs.10,000/- (Fixed and applied once for
each contravention in a compounding application) + Variable: 1. Up to 10 Lakh - 1,000 (Per Year) 2. 10 Lakh - 40 lakh - 2,500 (Per Year) 3. 40 Lakh - 100 Lakh - 7,000 (Per Year) 4. 1 Crore - 10 Crore - 50,000 (Per Year) 5. 10 Crore - 100 Crore - 1,00,000 (Per Year) 6. Above 100 Crore - 2,00,000 (Per Year) In the case of the Project Office, the amount imposed shall be calculated on 10% of the total project cost. |
2. AAC/ APR/ FLAR/ Share certificate
delays In case of non-submission/ delayed submission of APR/ share certificates (FEMA 120) AAC (FEMA 22) FCGPR (B) FLA Returns - FEMA 20 / FEMA 20 (R) / FEMA 120/FEMA 395 |
Rs. 10,000 per delayed return For Delayed receipt of share certificate: Rs.10000/- per year, the total amount being subject to a ceiling of 300% of the amount invested. |
3. A. Allotment/Refund Para 8 of FEMA 20/2000-RB (non-allotment of shares or allotment/ refund after the stipulated 180 days) B. O/BO/PO (Other than reporting contraventions) |
Rs.30000/- + given percentage: 1st year : 0.30% 1-2 years : 0.35% 2-3 years : 0.40% 3-4 years : 0.45% 4-5 years : 0.50% >5 years : 0.75% (For project offices the amount of contravention shall be deemed to be 10% of the cost of the project). |
4. All other contraventions, � including all contraventions of FEMA20(R)/2017/NDIR, 2019/FEMA 395/ 2019/, except contraventions pertaining to FLA returns and corporate guarantees | Rs.50000/- + given percentage: 1st year : 0.50% 1-2 years : 0.55% 2-3 years : 0.60% 3-4 years : 0.65% 4-5 years : 0.70% >5 years : 0.75% |
5. Issue of Corporate Guarantees: Without UIN/ without permission wherever required /open-ended guarantees or any other contravention related to issue of Corporate Guarantees. |
Rs.500000/- + given percentage: 1st year : 0.050% 1-2 years : 0.055% 2-3 years : 0.060% 3-4 years : 0.065% 4-5 years : 0.070% >5 years : 0.075% In case the contravention includes the issue of guarantees for raising loans that are invested back into India, the amount imposed may be trebled. |
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