RBI compounds FEMA violations in Apothecon Pharmaceuticals case
The Reserve Bank of India has issued a compounding order for Apothecon Pharmaceuticals to resolve FEMA violations, leading to the closure of an Enforcement Directorate investigation. This process is intended to encourage voluntary compliance and reduce litigation.
Why it matters
The case illustrates the regulatory mechanism for handling foreign exchange violations and the government's push for ease of doing business.
The Reserve Bank of India (RBI) has issued a compounding order in the case of Apothecon Pharmaceuticals Private Limited, which has resulted into closure of investigation against the company by the Enforcement Directorate under the Foreign Exchange Management Act (FEMA).
The article neutrally describes a regulatory action and the legal framework behind it.
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