|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) +
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
In case of non-submission/ delayed submission of
APR/ share certificates (FEMA 120)
AAC (FEMA 22)
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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