FEMA Compounding Application — Draft Template

To,
The Compounding Authority,
Foreign Exchange Department,
Reserve Bank of India,
[Regional Office Address] / [Central Office, Mumbai]

Date: [Date]

Subject: Application for compounding of contravention under Section 15
         of the Foreign Exchange Management Act, 1999 read with the
         Foreign Exchange (Compounding Proceedings) Rules, 2024

Sir/Madam,

We, [Applicant Name], [a company incorporated under the Companies Act,
2013 / an individual / an LLP], having our registered office/address at
[Address], PAN [PAN], CIN [CIN], hereby apply for compounding of the
contravention(s) detailed below and submit as under:

1. NATURE OF CONTRAVENTION:
   That the applicant has contravened the provisions of [state the
   relevant regulation — e.g. Regulation [___] of the Foreign Exchange
   Management (Non-Debt Instruments) Rules, 2019 / the FDI/ODI/ECB
   regulations], in that [describe the contravention — e.g. delay in
   reporting of foreign inward remittance / delay in filing Form FC-GPR
   beyond the prescribed period / issue of shares without prior
   reporting], as detailed hereunder:

        Regulation/Rule contravened : [___]
        Nature of contravention     : [___]
        Amount involved             : ₹[Amount] / USD [___]
        Period of default           : [From Date] to [To Date]
        Delay                       : [___] days

2. FACTS OF THE CASE:
   [Set out chronologically — the transaction, the date of remittance/
   allotment, the reporting due date, the actual date of filing/
   regularisation, and the reason for the delay (inadvertent/technical,
   no mala fide).]

3. That the said contravention has since been REGULARISED by [filing
   Form [FC-GPR/FC-TRS/ODI/ECB-2] on [Date] / obtaining the necessary
   approval], and the underlying transaction is otherwise in order and
   through banking channels.

4. That the contravention was neither wilful nor with any intent to
   evade, and no proceedings under any other law are pending in respect
   of the same transaction.

5. That the applicant undertakes to remain compliant in future and to
   pay the compounding amount as may be determined by the Compounding
   Authority.

6. The prescribed application fee of ₹[Amount] is remitted vide [Demand
   Draft / NEFT UTR] dated [Date] in favour of "Reserve Bank of India".

7. DECLARATION: We declare that the particulars given above are true and
   correct and that no material fact has been concealed. We further
   declare that no appeal/enforcement proceeding is pending in respect
   of the contravention sought to be compounded.

We request you to kindly compound the above contravention under Section
15 of FEMA, 1999.

                                          Yours faithfully,
                                          For [Applicant Name]


                                          ____________________
                                          [Authorised Signatory]
                                          [Name, Designation]

Enclosures:
1. Prescribed application form and Demand Draft/UTR for the fee.
2. Memorandum on the contravention with details of the transaction.
3. Copy of FIRC / FC-GPR / FC-TRS / ODI / ECB-2 / relevant filings.
4. Board resolution / authorisation to file the application.
5. Copy of Reserve Bank / AD Bank correspondence, if any.
6. Undertaking that the applicant is not under investigation by the
   Directorate of Enforcement for the same contravention.