RBI compounds FEMA violations in Touras India case

The Reserve Bank of India (RBI) has issued a compounding order under Section 15 of the Foreign Exchange Management Act (FEMA), in the case of Touras India Private Limited, which has resulted in the termination of proceedings against the company for contraventions of the law’s provisions with a one-time payment of Rs 26,950, according to a statement issued by the Directorate of Enforcement (ED) on Monday

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