Direct Tax
Consulting
ESG Advisory
Indirect Tax
Growth Advisory
Internal Audit
BFSI Audit
Industry Audit
Valuation
RBI Services
SEBI Services
IRDA Registration
AML Advisory
IBC Services
Recovery of Shares
NBFC Compliance
IRDA Compliance
Finance & Accounts
Payroll Compliance Services
HR Outsourcing
LPO
Fractional CFO
General Legal
Corporate Law
Debt Recovery
Select Your Location
“Compound” refers to “Settling a matter by money payment, instead of any other liability.” It describes the concept of compounding as a mechanism which offers an opportunity to the offender to avoid prosecution for the offense committed by him after paying off payment.
In the context of law, compounding of an offense refers to an amicable settlement to avoid prosecution. Nevertheless, it is not an intrinsic right, but it is provided by the respective act under which the offense has been committed.
Here is the list of documents:
The procedure is very simple. It involves the following steps:
It is mandatory to file RBI compounding application if you have received Memorandum from the RBI for delayed reporting, then unless the application has been filed, RBI will not approve the forms filed with them.
The prescribed penalty has to be cleared within 15 days, failing of which, the entire process will not be considered and where the consequences will be severe in nature and Directorate Enforcement will take over your case.
With the provisions of RBI compounding application, any lawsuits arising from the offence can be avoided in the future. However, it may be noted that it is not an intrinsic right.
Read our article:Can a struck off company get restored?
The financial sector is changing in the current digital era. Banking is no longer limited to ju...
The Indian financial market is diversifying and fast-changing. Making the right decision for in...
If you are an Indian seeking to live in the beautiful country of Sweden, 2025 is the right time...
Social Stock Exchange (SSE) is a platform where social welfare organizations and social enterpr...
Foreign investors today hold over Rs 80 Lakh crore assets in the Indian markets. However, in re...
Are you human?: 3 + 5 =
Easy Payment Options Available No Spam. No Sharing. 100% Confidentiality
The Foreign Exchange Management Act of 1999, governed by the Reserve Bank of India, governs Foreign Direct Investme...
13 Mar, 2023
As per RBI, the amount loaded in newly launched Prepaid Payment Instruments (PPIs) during any month shall not excee...
30 Dec, 2019