| Sr.No | Name of the applicant | Year | Legislature | Notification | Violation | Default Period | Brief issue | Summary | Amount Involved | Penalty Amount | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Biocon Limited | Jun/2016 | ODI | FEMA 120/RB-2004 | Contravention of regulations | 6 to 11 years | The contravention sought to be compounded relates to investment in the preferred stock of an overseas entity without prior equity contribution in the said entity | The applicant was initially incorporated as Biocon India Private Limited on November 29, 1978 under the Companies Act, 1956. The applicant is engaged in the business of manufacture and sale of biopharmaceutical and pharmaceutical products. With a view to collaborating for research and development purposes, the applicant entered into a joint venture (JV) with Vaccinex Inc., USA (UIN BGJAZ20040414) by way of investment in Series B1 and B2 preferred stock of the said entity. The investment was made without prior equity contribution in the said entity in contravention of the provisions of Regulation 6(4) of Notification No. FEMA.120/2004-RB dated July 7, 2004, as applicable. | 209,386,373 | 1,620,000 | |
| 2 | Debayan Banerjee | Jun/2016 | ODI | FEMA 120/RB-2004 | ODI- Swapping of shares without prior approval of RBI | 3 years | The applicant obtain the 1760000 shares of Uberland Inc USA by way of swapping the 59 shares of Uberlabs Software Technology Sarl,Switzerland without prior approval of RBI | Three resident individuals named as Shri Debayan Banerjee, Shri Deobrat Singh and Shri Saurab Paruthi had obtained 59 shares each from the Uberlabs Software Technology, (UST) Sarl, Switzerland towards their professional fee pursuant to the Service Agreement executed on June 26, 2012. Subsequently, US based overseas entity namely Uberlabs Inc, USA incorporated under the Laws of Delaware, USA, on September 26, 2012, had acquired UST, Sarl, Switzerland on September 28, 2012. The business activity of the overseas entities is computer software development. On account of acquisition of UST Sarl Switzerland, the Uberlabs Inc had allotted 17,60,000 shares to each of them (three resident individuals) on October 12, 2012 against the 59 shares of UST held by each of them by way of swap of shares .Out of these shares 5,13,333 shares were repurchased by Uberlabs Inc, USA on November 25, 2014 in connection with termination of services. The applicant individual now holds only 12,46,667 shares. Prior permission for obtaining the shares was not taken. It is considered that the resident individuals had rendered services and in lieu received shares of overseas entity “UST”. The shares so acquired were swapped with another overseas entity namely “Uberlabs Inc”. The method of acquisition of the shares of new overseas entity and disinvestment of shares acquired in lieu of professional services is not enabled under FEMA Notification No.120. Such type of swapping of shares without prior approval of RBI | 9,275 | 3,000 | |
| 3 | Deobrat Singh | Jun/2016 | ODI | FEMA 120/RB-2004 | ODI- Swapping of shares without prior approval of RBI | 3 years | The applicant obtain the 1760000 shares of Uberland Inc USA by way of swapping the 59 shares of Uberlabs Software Technology Sarl,Switzerland without prior approval of RBI | Three resident individuals named as Shri Debayan Banerjee, Shri Deobrat Singh and Shri Saurab Paruthi had obtained 59 shares each from the Uberlabs Software Technology, (UST) Sarl, Switzerland towards their professional fee pursuant to the Service Agreement executed on June 26, 2012. The business activity of the overseas entities is computer software development. On account of acquisition of UST Sarl Switzerland, the Uberlabs Inc had allotted 17,60,000 shares to each of them (three resident individuals) on October 12, 2012 against the 59 shares of UST held by each of them by way of swap of shares .It is considered that the resident individuals had rendered services and in lieu received shares of overseas entity “UST”. The shares so acquired were swapped with another overseas entity namely “Uberlabs Inc”. The method of acquisition of the shares of new overseas entity and disinvestment of shares acquired in lieu of professional services is not enabled.it is observed that Shri Saurab Paruthi one of the three resident individuals has obtained the shares by way of swapping without obtaining the prior approval from RBI. | 9,275 | 3,000 | |
| 4 | Saurab Paruthi | Jun/2016 | ODI | FEMA 120/RB-2004 | ODI- Swapping of shares without prior approval of RBI | 3 years | The applicant obtain the 1760000 shares of Uberland Inc USA by way of swapping the 59 shares of Uberlabs Software Technology Sarl,Switzerland without prior approval of RBI | Three resident individuals named as Shri Debayan Banerjee, Shri Deobrat Singh and Shri Saurab Paruthi had obtained 59 shares each from the Uberlabs Software Technology, (UST) Sarl, Switzerland towards their professional fee pursuant to the Service Agreement executed on June 26, 2012. The business activity of the overseas entities is computer software development. On account of acquisition of UST Sarl Switzerland, the Uberlabs Inc had allotted 17,60,000 shares to each of them (three resident individuals) on October 12, 2012 against the 59 shares of UST held by each of them by way of swap of shares .It is considered that the resident individuals had rendered services and in lieu received shares of overseas entity “UST”. The shares so acquired were swapped with another overseas entity namely “Uberlabs Inc”. The method of acquisition of the shares of new overseas entity and disinvestment of shares acquired in lieu of professional services is not enabled.it is observed that Shri Saurab Paruthi one of the three resident individuals has obtained the shares by way of swapping without obtaining the prior approval from RBI. | 9,275 | 3,000 | |
| 5 | Sidhartha Gelatines | Jun/2016 | ODI | FEMA 120/RB-2004 | ODI- Disinvestment of stake within 1 year from the date of investment | 2 years | Disinvestment of stake within 1 year from date of investment in WOS/JV | The applicant had remitted USD 150,000 on October 25, 2013 towards equity in the WOS viz, Sidhartha Solutions LLC, USA and the amount of USD 131,399 had been brought back on February 4, 2014 as the disinvestment proceed which involves write off of the investment made in the WOS. Further, the entire stake in the WOS has been divested within one year from the date of investment and these facts were disclosed while reporting the disinvestment. | 9,245,250 | 184,240 | |
| 6 | Metco Colors (India) Pvt. Ltd. | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 9 years | Delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is engaged in the business of formulating and producing liquid colors from intermediates and concentrates, import and export of chemicals/fine chemicals and raw materials manufacture, retailers, importers, exporters and dealers in chemicals products of any nature including heavy chemicals, petrochemicals, micro-biological, pharmaceuticals and other allied chemicals, dyes, solvents, alkalis, acids, drugs, essence, medicinal, chemicals, industrial raw materials and finished products in ceramic field and other preparations of any nature and kind whatsoever. The applicant received foreign inward remittance from M/s Metco SRL, Italy, Mr. Bazzani Giuliano, Italy and Mr. Vignali Graziano, Italy towards equity / preference share capital. Further the company alloted share after the reciept of funds but failed to submit to Reserve Bank a report in Form FC-GPRs beyond the stipulated period of 30 days from the date of issue of shares to person resident outside India. | 9,700,000 | 73,000 | |
| 7 | Unitape Mandovi Composites Pvt. Ltd. | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of remittances received from a resident outside India | 5 months 20 days to 1 years 2 months and 5 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is engaged in the business of manufacture, produce, process, buy, sell, import and otherwise deal in all kind of Glass Fiber Reinforced Plastic (GFRP) Rods, polyester, Steel Aluminium & Polyel Tapes, PVC and XLPE Compounds. Optic Fiber, Optical Fiber Cables, Jelly Filled Telephone Cables, Co-Axial Cables, Control Cables, Power Cables, Telecommunication Cables, House wiring, HT and LT Cables, cable Filling and Flooding compound, Pigtail Patch Cords, IDMS, Joint Closures, Warning Tape, Optical Connector Assemblies and all other raw materials required for manufacture of all kinds of Optic Fiber, optical Fiber cables, Power cables and Jelly Filled Telephone cables Including parts, connectors and accessories thereof. The applicant received foreign inward remittance from M/s Unitape Ltd, United Kingdom towards equity / preference share capital and reported the same to the Reserve Bank beyond the stipulated period of 30 days from the date of receipt of amount of consideration. Further the company alloted share after the reciept of funds but failed to submit to Reserve Bank a report in Form FC-GPRs beyond the stipulated period of 30 days from the date of issue of shares to person resident outside India. | 6,011,388 | 34,000 | |
| 8 | Unitape Mandovi Composites Pvt. Ltd. | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 3 months and 9 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is engaged in the business of manufacture, produce, process, buy, sell, import and otherwise deal in all kind of Glass Fiber Reinforced Plastic (GFRP) Rods, polyester, Steel Aluminium & Polyel Tapes, PVC and XLPE Compounds. Optic Fiber, Optical Fiber Cables, Jelly Filled Telephone Cables, Co-Axial Cables, Control Cables, Power Cables, Telecommunication Cables, House wiring, HT and LT Cables, cable Filling and Flooding compound, Pigtail Patch Cords, IDMS, Joint Closures, Warning Tape, Optical Connector Assemblies and all other raw materials required for manufacture of all kinds of Optic Fiber, optical Fiber cables, Power cables and Jelly Filled Telephone cables Including parts, connectors and accessories thereof. The applicant received foreign inward remittance from M/s Unitape Ltd, United Kingdom towards equity / preference share capital and reported the same to the Reserve Bank beyond the stipulated period of 30 days from the date of receipt of amount of consideration. Further the company alloted share after the reciept of funds but failed to submit to Reserve Bank a report in Form FC-GPRs beyond the stipulated period of 30 days from the date of issue of shares to person resident outside India. | 6,000,000 | 34,000 | |
| 9 | Bitumode International Pvt. Ltd. | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 6 to 1280 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India and (iii) delay in issue of shares beyond stipulated period | The applicant company was incorporated on Augustust 03, 2011 under the provisions of the Companies Act, 1956 and is engaged in carrying on business of manufacturing of water proofing membranes, Bituminous liquids and waterproofing paints etc. The applicant company has received total twenty one inflows amounting to Rs.8,78,14,177/- from Foreign investors under automatic route and reported the same to Reserve Bank of India. Out of twenty inflows 12 inflows amounting to 6,36,32,062/-were reported with the delay ranging from 6 to 1280 days. Further the applicant filed 12 Form FC-GPR out of which five FC-GPRs amounting to Rs.4,15,34,140/-were filed beyond the prescribed timeline of 30 days.Further, it is observed that the shares were allotted for the consideration amount of ₹5,82,29,633/- beyond stipulated period of 180 days from date of receipt without obtaining the approval of the Reserve Bank India. | 63,632,062 | 795,016 | |
| 10 | Bitumode International Pvt. Ltd. | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 20 to 156 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India and (iii) delay in issue of shares beyond stipulated period | The applicant company was incorporated on Augustust 03, 2011 under the provisions of the Companies Act, 1956 and is engaged in carrying on business of manufacturing of water proofing membranes, Bituminous liquids and waterproofing paints etc. The applicant company has received total twenty one inflows amounting to Rs.8,78,14,177/- from Foreign investors under automatic route and reported the same to Reserve Bank of India. Out of twenty inflows 12 inflows amounting to 6,36,32,062/-were reported with the delay ranging from 6 to 1280 days. Further the applicant filed 12 Form FC-GPR out of which five FC-GPRs amounting to Rs.4,15,34,140/-were filed beyond the prescribed timeline of 30 days.Further, it is observed that the shares were allotted for the consideration amount of ₹5,82,29,633/- beyond stipulated period of 180 days from date of receipt without obtaining the approval of the Reserve Bank India. | 41,534,140 | 795,016 | |
| 11 | Bitumode International Pvt. Ltd. | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in issue of share beyond 180 days | 21 to 1160 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India and (iii) delay in issue of shares beyond stipulated period | The applicant company was incorporated on Augustust 03, 2011 under the provisions of the Companies Act, 1956 and is engaged in carrying on business of manufacturing of water proofing membranes, Bituminous liquids and waterproofing paints etc. The applicant company has received total twenty one inflows amounting to Rs.8,78,14,177/- from Foreign investors under automatic route and reported the same to Reserve Bank of India. Out of twenty inflows 12 inflows amounting to 6,36,32,062/-were reported with the delay ranging from 6 to 1280 days. Further the applicant filed 12 Form FC-GPR out of which five FC-GPRs amounting to Rs.4,15,34,140/-were filed beyond the prescribed timeline of 30 days.Further, it is observed that the shares were allotted for the consideration amount of ₹5,82,29,633/- beyond stipulated period of 180 days from date of receipt without obtaining the approval of the Reserve Bank India. | 58,299,633 | 795,016 | |
| 12 | Shiva Satya Hotels Private Limited | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 3 to 58 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity | The applicant company was incorporated on October 22, 2007 under the provisions of the Companies Act, 1956 and is engaged in activities of owning and running Hotels in India . The applicant company has received total inflow amounting to Rs.1,05,63,00,526/- from Foreign investor under automatic route and reported the same to Reserve Bank of India. Out of the total infow 11,94,57,741 were reported beyond the period of 30 days. Further there was delay of 1 day prescribed timeline of 30 days in filing one Form FC-GPRs amounting to Rs. 2,70,00,000 | 119,457 | 165,000 | |
| 13 | Kowa Company Limited | Jun/2016 | Establishment of BO/LO/PO in India | FEMA 22/2000-RB | Failure of obtaining permission from RBI for renewal period of Laison Office | 7 years | (i) Carrying out operations of Liaison Office without obtaining valid permission/extension and (ii) Maintenance of two bank accounts with two different AD banks by the Liaison Office in India without obtaining prior permission of the Reserve Bank | The applicant established a laison office at Mumbai after obtaining the approval of Reserve Bank of India on December 1, 2005. The laison office got th eapproval of period for 3 years after the expiry of said period the applicant did not made approval for renewal of laison office. It continued to function without the approval of RBI during the period from December 01, 2008 to October 13, 2015. Further the laison office got a second bank account opened with another AD bank, thereby maintaining two bank accounts with two different AD banks without obtaining prior permission of the Reserve Bank. | 30,043,944 | 254,900 | |
| 14 | Kowa Company Limited | Jun/2016 | Establishment of BO/LO/PO in India | FEMA 22/2000-RB | Failure of obtaining permission from RBI for maintenace of two bank accounts with two different banks | 9 years | (i) Carrying out operations of Liaison Office without obtaining valid permission/extension and (ii) Maintenance of two bank accounts with two different AD banks by the Liaison Office in India without obtaining prior permission of the Reserve Bank | The applicant established a laison office at Mumbai after obtaining the approval of Reserve Bank of India on December 1, 2005. The laison office got the approval of period for 3 years after the expiry of said period the applicant did not make application for renewal of laison office. It continued to function without the approval of RBI during the period from December 01, 2008 to October 13, 2015. Further the laison office got a second bank account opened with another AD bank, thereby maintaining two bank accounts with two different AD banks without obtaining prior permission of the Reserve Bank. | 30,043,944 | 254,900 | |
| 15 | Think Systems Pvt. Ltd. | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 7.62 years | (i) Delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is engaged in in activities of the business of IT enabled BPO and KPO Services. The applicant company has received total inflow amounting to Rs.3,35,48,394.84 from Foreign investor under automatic route and reported the same to Reserve Bank of India without any delay within the stipulated period of 30 days. Further the applicant alloted the shares out of the remittance received from the receipt of consideration.The applicant filed form FC-GPRs to RBI after the expiry of 30 days. | 33,548,400 | 391,000 | |
| 16 | Ameri Coats India Pvt. Ltd. | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 234 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity and (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company was incorporated on January 13, 2009, under the provisions of the Companies Act, 1956 and is engaged in carrying on business of manufacturing of Powder coatings. The applicant company has received one inflow amounting to Rs.46,39,085/- from Foreign investor under automatic route and reported the same to Reserve Bank of India after the expiry of 30 days. The applicant has filed one form FC-GPR amounting to Rs.46,39,000/-with the delay of 1958 days(5.3 years .) beyond the prescribed timeline of 30 days | 4,639,085 | 63,260 | |
| 17 | Ameri Coats India Pvt. Ltd. | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 1958 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity and (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company was incorporated on January 13, 2009, under the provisions of the Companies Act, 1956 and is engaged in carrying on business of manufacturing of Powder coatings. The applicant company has received one inflow amounting to Rs.46,39,085/- from Foreign investor under automatic route and reported the same to Reserve Bank of India after the expiry of 30 days. The applicant has filed one form FC-GPR amounting to Rs.46,39,000/-with the delay of 1958 days(5.3 years .) beyond the prescribed timeline of 30 days | 4,639,000 | 63,260 | |
| 18 | J Korin Cocoon Manufacturing Private Limited | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 3485 to 3492 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India and (iii) delay in issue of shares beyond stipulated period and (iv) delay in refund of excess amount after the stipulated 180 days without RBI’s permission | The applicant company was incorporated on December 08, 2005 under the provisions of the Companies Act, 1956 and is engaged in carrying on business of manufacturing of manmade fibers, cocoon etc. The applicant company has received total three inflows amounting to Rs.16,03,191/- from Foreign investor, under automatic route and reported the same to Reserve Bank of India after the expiry of stipulated period of 30 days. The applicant has filed one form FC-GPR amounting to Rs.16,01,200 /-with the delay of 3528 days(9.66 Years) beyond the prescribed timeline of 30 days. | 1,603,191 | 67,704 | |
| 19 | J Korin Cocoon Manufacturing Private Limited | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 3528 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India and (iii) delay in issue of shares beyond stipulated period and (iv) delay in refund of excess amount after the stipulated 180 days without RBI’s permission | The applicant company was incorporated on December 08, 2005 under the provisions of the Companies Act, 1956 and is engaged in carrying on business of manufacturing of manmade fibers, cocoon etc. The applicant company has received total three inflows amounting to Rs.16,03,191/- from Foreign investor, under automatic route and reported the same to Reserve Bank of India after the expiry of stipulated period of 30 days. The applicant has filed one form FC-GPR amounting to Rs.16,01,200 /-with the delay of 3528 days(9.66 Years) beyond the prescribed timeline of 30 days. | 1,601,200 | 67,704 | |
| 20 | Wielands Metal India Pvt. Ltd. | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 4 days to 1 months 9 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity; and (ii) delay in submission of Form FCGPRs to the Reserve Bank after issue of shares to a person resident outside India | The activity undertaken by the company is to engage in the business of manufacturing, trading and marketing of components and parts made of metal and plastics, especially semi-finished articles made of non- ferrous metals. The applicant received funds towards share application money from one foreign investor viz. Wieland Werke AG, Germany. The applicant reported the receipt of part inward remittances to the Bangalore Regional Office of RBI beyond the stipulated period of 30 days. Further, the applicant filed all form FC-GPRs beyond 30 days from the date of issue of shares to the person resident outside India | 33,497,514 | 41,000 | |
| 21 | Wielands Metal India Pvt. Ltd. | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of Form FC-GPR | 5 days to 9 months | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity; and (ii) delay in submission of Form FCGPRs to the Reserve Bank after issue of shares to a person resident outside India | The activity undertaken by the company is to engage in the business of manufacturing, trading and marketing of components and parts made of metal and plastics, especially semi-finished articles made of non- ferrous metals. The applicant received funds towards share application money from one foreign investor viz. Wieland Werke AG, Germany. The applicant reported the receipt of part inward remittances to the Bangalore Regional Office of RBI beyond the stipulated period of 30 days. Further, the applicant filed all form FC-GPRs beyond 30 days from the date of issue of shares to the person resident outside India | 84,445,000 | 41,000 | |
| 22 | Hippocampus Learning Centres Private Limited | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 21 days to 1 years 9 m 10 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity; and (ii) delay in submission of Form FCGPRs to the Reserve Bank after issue of shares to a person resident outside India | The activity undertaken by the company is dealing in pre-nursery education. The applicant received funds towards share application money from six foreign investors viz. United Seed Fund, USA; Lok Capital II, LLC, Mauritius; Acumen Fund Inc., USA; United Seed, Mauritius; Khosla Impact I, Mauritius; and Asian Development Bank, Philippines. The applicant reported the receipt of all inward remittances to the Bangalore Regional Office of RBI beyond the stipulated period of 30 days. Further, the applicant filed all form FC-GPRs beyond 30 days from the date of issue of shares to the person resident outside India | 195,653,346 | 156,000 | |
| 23 | Hippocampus Learning Centres Private Limited | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of Form FC-GPR | 2 months to 1 years | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity; and (ii) delay in submission of Form FCGPRs to the Reserve Bank after issue of shares to a person resident outside India | The activity undertaken by the company is dealing in pre-nursery education. The applicant received funds towards share application money from six foreign investors viz. United Seed Fund, USA; Lok Capital II, LLC, Mauritius; Acumen Fund Inc., USA; United Seed, Mauritius; Khosla Impact I, Mauritius; and Asian Development Bank, Philippines. The applicant reported the receipt of all inward remittances to the Bangalore Regional Office of RBI beyond the stipulated period of 30 days. Further, the applicant filed all form FC-GPRs beyond 30 days from the date of issue of shares to the person resident outside India | 195,639,974 | 156,000 | |
| 24 | Intercat Equipment (Mumbai) Pvt. Ltd. | Jun/2016 | ECB | FEMA 3/2000-RB | ECB- Availment of foreign currency credit for a period exceeding 6 months | 2 years to 10 years | (i) Delay in making payment for import of goods from overseas entity | The applicant is engaged in the business of manufacturing and sale of pressure vessels and related equipment used to store and inject chemical additives used in the refining of petroleum. The applicant imported various additive systems from its then parent company, Intercat Inc., USA and group companies, Intercat Equipment Inc., Intercat Savannah Inc. and Intercat Europe BV during the period September, 2005 to Augustust, 2013 amounting to USD 4,25,908.97 (Rs.2,31,04,867.18). The applicant delayed in making payments against the said import of goods beyond the prescribed period of six months in contravention of Regulation 5(3) of Notification No. FEMA 3/2000-RB | 23,104,867 | 213,800 | |
| 25 | Binani Industries Limited | Jun/2016 | ODI | FEMA 120/RB-2004 | ODI- Violation provision of Regulation 6 (2)(ii) by setting up step down subsidiary in India | 4 years | (i) setting up of a step down subsidiary in India which is not permitted in terms of the provisions of Regulation 6(2)(ii) of Foreign Exchange Management (Transfer or Issue of any Foreign Security) Regulations, 2004 | The applicant operates as a holding company for subsidiaries engaged in the manufacture of glass fibre products. The applicant incorporated a Special Purpose Vehicle (SPV) in Luxembourg in September, 2011, presently known as 3B Binani Glassfibre S.a.r.l.(3B Binani), for the purpose of acquiring 100% stake in PBH Group Companies which owned 3B Fibreglass which had its operating units located in Belgium and Norway. The applicant also held 100% shares in Goa Glass Fibre Limited (GGFL) which is engaged in the manufacture of glass fibre products and is located in Goa. With a view to leveraging technological and other advantages and as part of its merger and acquisition strategy, the applicant merged the operations of GGFL with 3B Binani, Luxembourg. The applicant initially sold 49% of its stake in GGFL to 3B Binani in February, 2012 under Automatic Route. | 1,559,233,934 | 10,185,000 | |
| 26 | Cisco Systems Capital (India) Pvt. Ltd. | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 1 days to 1 years 8 months and 10 days | (i) Delay in reporting receipt of foreign inward remittances towards subscription to equity; and (ii) delay in submission of Form FCGPRs to the Reserve Bank after issue of shares to a person resident outside India. | The company has obtained a Certificate of Registration dated April 21, 2005 from the Reserve Bank of India to commence the business of non-banking financial services. The primary business of the company has been asset financing classified as NBFC-ND-SI under the AFC Category. Cisco Systems Capital (India) Pvt. Ltd is the captive vendor finance division for Cisco, providing or procuring financing. The applicant received funds towards share application money from two foreign investors viz. Andiamo Mauritius Inc., Mauritius and CSI Mauritius Inc., Mauritius. The applicant reported some receipt of remittance beyond the stipulated period of 30 days from the date of receipt of amount of consideartion.The applicant filed the Form FC-GPRs on allotment of shares with the Bengaluru Regional Office of the Reserve Bank of India, with a delay ranging from 1 day to 4 months 16 days beyond the prescribed period of 30 days in respect of allotment of shares | 4,433,600,000 | 719,000 | |
| 27 | Cisco Systems Capital (India) Pvt. Ltd. | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of Form FC-GPR | 1 days to 4 months 16 days | (i) Delay in reporting receipt of foreign inward remittances towards subscription to equity; and (ii) delay in submission of Form FCGPRs to the Reserve Bank after issue of shares to a person resident outside India. | The company has obtained a Certificate of Registration dated April 21, 2005 from the Reserve Bank of India to commence the business of non-banking financial services. The primary business of the company has been asset financing classified as NBFC-ND-SI under the AFC Category. Cisco Systems Capital (India) Pvt. Ltd is the captive vendor finance division for Cisco, providing or procuring financing. The applicant received funds towards share application money from two foreign investors viz. Andiamo Mauritius Inc., Mauritius and CSI Mauritius Inc., Mauritius. The applicant reported some receipt of remittance beyond the stipulated period of 30 days from the date of receipt of amount of consideartion.The applicant filed the Form FC-GPRs on allotment of shares with the Bengaluru Regional Office of the Reserve Bank of India, with a delay ranging from 1 day to 4 months 16 days beyond the prescribed period of 30 days in respect of allotment of shares | 3,971,110,600 | 719,000 | |
| 28 | Aluk Building Systems Pvt. Ltd. | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 9 days to 1 months and 7 days | (i) Delay in reporting receipt of foreign inward remittances towards subscription to equity, to the Reserve Bank | The applicant, M/s. Aluk Building Systems Pvt. Ltd., is a private limited company incorporated on October 31, 2013 under the Companies Act, 1956 as per the certificate of incorporation issued by the Registrar of Companies, Karnataka. The activity undertaken by the company is to carry on the business of designing, buying, selling, importing, exporting, acting as agents, as a trader and otherwise dealing on a wholesale basis of aluminium building systems, products made of aluminium extruded profiles, accessories or other related items made of aluminium or other related alloys as well as finished products made of aluminium building systems. The applicant received funds towards share application money from three foreign investors viz. Embryo International, France; Valfidus Buildings Systems SA, Luxembourg; and Aluk SA | 56,998,300 | 20,000 | |
| 29 | ECL Engineering Services India Pvt. Ltd. | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 1 years and 8 months | FDI Foreign inward remittance received by a person resident individual from overseas entity. The remittance was refunded beyond the stipulated period od 180 days | The applicant was incorporated on January 15, 2009 under Companies Act, 1956 and is a wholly owned subsidiary of ECL S.A.S., France. It is engaged in the business of rendering services in relation to aluminium smelter equipment. At the time of incorporation of the applicant in 2009, an amount of ₹ 2,33,000.00 (received by the applicant on January 14, 2009) relating to pre-incorporation expenses was incurred by ECL S.A.S., France directly.The issue of shares in form FC-GPR was reported to RBI on October 31, 2011 and was subsequently advised by RBI to seek post facto approval from Foreign Investment Promotion Board (FIPB) for capitalization of pre-incorporation expenses. The regularisation of receipt of earlier remittance towards incorporation expenses, the applicant refunded the remittance of ₹ 2,33,000.00 received in September 2013 to the overseas investor on May 22, 2015. Since the applicant has refunded the amount beyond the stipulated period of 180 days. | 233,000 | 30,816 | |
| 30 | Diagnosys Electronic (I) Pvt. Ltd. | Jun/2016 | ECB | FEMA 3/2000-RB | ECB- (i)Violation in utilising ECB (ii) Average maturity period of ECB upto USD 20M less than 3 years (iii) Drawdown of ECB before obtaining LRN | 2 years | (i) Utilization of external commercial borrowing (ECB) proceeds towards meeting margin requirements for a term loan raised by the company domestically which is not a permissible end use as per extant ECB guidelines; (ii) average maturity period of the loan is not in compliance with the applicable norms for ECB; and (iii) draw down of ECB before obtaining Loan Registration Number (LRN) from the Reserve Bank of India (RBI) | The applicant was incorporated as Diagnosys Electronics (I) Private Limited on February 21, 2003 under the Companies Act, 1956 (CIN U31909KA2003PTC031620). The applicant is engaged in providing software development services. The applicant availed an interest free loan of USD 330,335.51 (Rs.2,09,20,534/-) from its group company, Diagnosys System Inc., USA in three tranches from September, 2013 to December, 2013.The loan was agreed to be repaid in three unequal installments on November 14, 2014, Augustust 07, 2015 and March 31, 2016. The average maturity period of the loan does not meet the stipulated minimum average maturity period requirement of three years, as applicable. Further, the loan was used to meet margin requirements towards term loan which was raised by the applicant domestically for making payment against import of machinery. This is not a permissible end use as per extant ECB guidelines. Finally, the drawdown of the loan took place before obtaining LRN from RBI. | 20,920,534 | 165,000 | |
| 31 | Mecklai and Mecklai Financial Consultants Pvt. Ltd. | Jun/2016 | ODI | FEMA 120/RB-2004 | ODI- Failure in repatriation of dividend received from the overseas investment | 6 years | (i) Failure in repatriating the amount of dividend received from the overseas investment. (ii) Non submission of APR in partIII of form ODI to the Reserve Bank through authorized dealer | The applicant had not repatriated to India the dividend amount from the overseas entity for the years 2008-2009 and 2009-2010 amounting to LKR 500,000 and LKR 666,667 within the prescribed period resulting in contravention of Regulation 15 (ii) of Notification No. FEMA 120/2000-RB and also delayed in submission of APRs in respect of the overseas Joint Venture (JV) in contravention of the provisions contained in Regulation 15 (iii) of Notification No. FEMA 120/2000-RB. | 537,000 | 193,750 | |
| 32 | Mecklai and Mecklai Financial Consultants Pvt. Ltd. | Jun/2016 | ODI | FEMA 120/RB-2004 | ODI-Non submission APR of Form ODI | 6 years | (i) Failure in repatriating the amount of dividend received from the overseas investment. (ii) Non submission of APR in partIII of form ODI to the Reserve Bank through authorized dealer | The applicant had not repatriated to India the dividend amount from the overseas entity for the years 2008-2009 and 2009-2010 amounting to LKR 500,000 and LKR 666,667 within the prescribed period resulting in contravention of Regulation 15 (ii) of Notification No. FEMA 120/2000-RB and also delayed in submission of APRs in respect of the overseas Joint Venture (JV) in contravention of the provisions contained in Regulation 15 (iii) of Notification No. FEMA 120/2000-RB. | 537,000 | 193,750 | |
| 33 | Seclore Technology Pvt. Ltd. | Jun/2016 | ODI | FEMA 120/RB-2004 | ODI- Non receipt of share certificate for investment in JV/WOS | 6 months | (i) Delay of around 6 months in non receipt of share certificate for the investment in overseas entity. | The applicant is engaged in the business of providing software and hardware consultancy and consulting services related to preparation and maintenance of accounting, statistical, scientific or mathematical information and reports, information technology and computer services activities etc. A Wholly Owned Subsidiary (WOS) of the applicant company, namely, Seclore Inc. was incorporated on March 18, 2014, in the state of Delaware, USA. | 24,866,688 | 10,000 | |
| 34 | Ritika Ravi | Jun/2016 | ODI | FEMA 120/RB-2004 | ODI by resident individual | 2 years & 6 m to 3 years & 6 m | (i) Overseas Direct Investment (ODI) by a resident individual in violation of the then prevalent Regulations, at the time of the investment (ii) Nonsubmission of Form ODI within the stipulated time frame and (iii) Nonfulfillment of reporting requirements. | The applicant, a Resident Indian, in a Joint Venture with three other family members, invested overseas, in IVAR Investments Private Limited, a company incorporated in Singapore on June 4, 2012. The investment was made through the remittances under the automatic route of Liberalized Remittance Scheme (LRS). | 21,298,000 | 263,942 | |
| 35 | Ritika Ravi | Jun/2016 | ODI | FEMA 120/RB-2004 | ODI-Non submission of Form ODI | 3 m to 1 years & 11 m | (i) Overseas Direct Investment (ODI) by a resident individual in violation of the then prevalent Regulations, at the time of the investment (ii) Nonsubmission of Form ODI within the stipulated time frame and (iii) Nonfulfillment of reporting requirements. | The applicant, a Resident Indian, in a Joint Venture with three other family members, invested overseas, in IVAR Investments Private Limited, a company incorporated in Singapore on June 4, 2012. The investment was made through the remittances under the automatic route of Liberalized Remittance Scheme (LRS). | 28,956,250 | 263,942 | |
| 36 | Ritika Ravi | Jun/2016 | ODI | FEMA 120/RB-2004 | ODI- Non fulfillment of reporting requirements | 3 m to 1 years & 11 m | (i) Overseas Direct Investment (ODI) by a resident individual in violation of the then prevalent Regulations, at the time of the investment (ii) Nonsubmission of Form ODI within the stipulated time frame and (iii) Nonfulfillment of reporting requirements. | The applicant, a Resident Indian, in a Joint Venture with three other family members, invested overseas, in IVAR Investments Private Limited, a company incorporated in Singapore on June 4, 2012. The investment was made through the remittances under the automatic route of Liberalized Remittance Scheme (LRS). | 28,956,250 | 263,942 | |
| 37 | Rohit Ravi | Jun/2016 | ODI | FEMA 120/RB-2004 | ODI by resident individual | 2 years & 6 m to 3 years & 6 m | (i) Overseas Direct Investment (ODI) by a resident individual in violation of the then prevalent Regulations, at the time of the investment (ii) Nonsubmission of Form ODI within the stipulated time frame and (iii) Nonfulfillment of reporting requirements. | The applicant, a Resident Indian, in a Joint Venture with three other family members, invested overseas, in IVAR Investments Private Limited, a company incorporated in Singapore on June 4, 2012. The investment was made through the remittances under the automatic route of Liberalized Remittance Scheme (LRS). | 21,298,000 | 213,942 | |
| 38 | Ravi Appasamy | Jun/2016 | ODI | FEMA 120/RB-2004 | ODI by resident individual | 2 years & 6 m to 3 years & 6 m | (i) Overseas Direct Investment (ODI) by a resident individual in violation of the then prevalent Regulations, at the time of the investment (ii) Nonsubmission of Form ODI within the stipulated time frame and (iii) Nonfulfillment of reporting requirements. | The applicant, a Resident Indian, in a Joint Venture with three other family members, invested overseas, in IVAR Investments Private Limited, a company incorporated in Singapore on June 4, 2012. The investment was made through the remittances under the automatic route of Liberalized Remittance Scheme (LRS). | 21,298,000 | 213,942 | |
| 39 | Charubala Ravi | Jun/2016 | ODI | FEMA 120/RB-2004 | ODI by resident individual | 2 years & 6 m to 3 years & 6 m | (i) Overseas Direct Investment (ODI) by a resident individual in violation of the then prevalent Regulations, at the time of the investment (ii) Nonsubmission of Form ODI within the stipulated time frame and (iii) Nonfulfillment of reporting requirements. | The applicant, a Resident Indian, in a Joint Venture with three other family members, invested overseas, in IVAR Investments Private Limited, a company incorporated in Singapore on June 4, 2012. The investment was made through the remittances under the automatic route of Liberalized Remittance Scheme (LRS). | 21,298,000 | 213,942 | |
| 40 | S. Narendra | Jun/2016 | ECB | FEMA 3/2000-RB | Non repayment of foreign currency credit | 1 years & 6 m to 2 years & 1 m | (i)Nonrepayment of foreign currency credit, extended by the overseas supplier of goods, for a period exceeding six months on a couple of occasions. Nonpayment of foreign currency credit within the stipulated timeframe amounts to contravention of Regulation 5 (3) of Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000 | The applicant is a partnership firm with four partners, engaged in the business of import and export of diamonds since the last 50 years. The applicant had imported rough diamonds on credit, but did-not effect the re-payment within the stipulated period of 180 days in case of following overseas exporter: (i)M/s Samay Gems DMCC made the payment of imported products with the period of delay of 2 years 1 month. (ii)M/s Samay Gems DMCC made the payment of imported products with the period of delay of 1 year 6 months. RBI had given approval for repayment of the foreign currency credit beyond 180 days vide letters dated December 9, 2015 and April 7, 2016, respectively. At the same time, in view of the large number of occasions on which the applicant had delayed payment in the past, the applicant, vide the last letter dated April 7, 2016, had also been advised to apply for compounding. | 70,716,299 | 455,726 | |
| 41 | Eastman Industries Limited | Jun/2016 | ODI | FEMA 120/RB-2004 | ODI- Non reporting of step down subsidiary | 3 years and 9 months | (i) Nonreporting of setting up of stepdown subsidiary within the stipulated time period (ii) Nonreceipt of share certificates within the stipulated time period and (iii) Nonsubmission of Annual Performance Reports (APR) within the stipulated time period | The applicant is engaged in the business of import, export, purchase, sale, manufacture etc. of bicycles, tricycles and carriages of all kinds. A Wholly Owned Subsidiary (WOS) of the applicant company, namely, Eastman Hong Kong Pvt. Ltd. was incorporated on October 18, 2007. Further, a step-down subsidiary was setup on June 18, 2010. | 16,142,140 | 220,000 | |
| 42 | Smart Data Processing Services Private Limited | Jun/2016 | ODI | FEMA 120/RB-2004 | ODI- Non receipt of share certificate for investment in JV/WOS | 6 years | (i) The applicant did not receive share certificates for the investment in the JV (ii) Indian Party did not submit APR in respect of overseas Joint Venture. (iii) the Indian Party had written off the entire amount of investment without conducting fair valuation exercise of the shares contravening the provisions of Regulation 16 (1) (iii) of Notification No. FEMA 120/2000RB2004 dated July 7, 2004. | The Applicant, a resident company in India had set up the overseas JV in Singapore with a fifty percent stake and the remaining fifty percent stake was to be held by United Alcrity Pte Ltd in the year 2008 by remitting SGD 17,000 (INR 551,820) on July 22, 2008. The JV was allotted the UIN NDJAZ20080726 vide RBI letter September 11, 2008. The applicant did not receive share certificates for the investment in the JV resulting in contravention of Regulation 15 (i) of Notification No. FEMA 120/2000-RB-2004 dated July 7, 2004 and also the Indian Party did not submit APRs since inception in respect of the overseas Joint Venture (JV) in contravention of the provisions contained in Regulation 15 (iii) of Notification No. FEMA 120/2000-RB. The JV has been closed down on July 05, 2012 without repatriating any amount in this regards. Further, the Indian Party had written off the entire amount of investment without conducting fair valuation exercise of the shares contravening the provisions of Regulation 16 (1) (iii) of Notification No. FEMA 120/2000-RB-2004 dated July 7, 2004. | 551,280 | 173,000 | |
| 43 | Technology Frontiers (India) Private Limited | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 2 days1 years 1 months 12 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares and (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The applicant company was incorporated on November 20, 1996 under the provisions of the Companies Act, 1956 and is engaged in Business of Development & Export of Software for application in areas of Computers, Telecommunication, Electronics and allied areas. The applicant received foreign inward remittances from (i) M/s. Start Consult, Dubai (ii) FW Global Leader Ltd., Mauritius (iii) Avigo PE Investments, Mauritius (iv) Global Sports Commerce Pte. Ltd., Singapore towards subscription to equity shares and reported the same to the Reserve Bank beyond the period of 30 days. Further, the applicant alloted shares and filed FC-GPRs beyond the period of 30 days | 969,566,322 | 285,120 | |
| 44 | Technology Frontiers (India) Private Limited | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of Form FC-GPR | 13 days to 11 months11 daysd | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares and (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The applicant company was incorporated on November 20, 1996 under the provisions of the Companies Act, 1956 and is engaged in Business of Development & Export of Software for application in areas of Computers, Telecommunication, Electronics and allied areas. The applicant received foreign inward remittances from (i) M/s. Start Consult, Dubai (ii) FW Global Leader Ltd., Mauritius (iii) Avigo PE Investments, Mauritius (iv) Global Sports Commerce Pte. Ltd., Singapore towards subscription to equity shares and reported the same to the Reserve Bank beyond the period of 30 days. Further, the applicant alloted shares and filed FC-GPRs beyond the period of 30 days | 741,915,582 | 285,120 | |
| 45 | Ultramain Software India Pvt. Ltd. | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 5 m 27 days to 6 m 16 days | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares; (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank, and (iii) retaining the excess share application money beyond 180 days and delay in refunding the same to the nonresident remitter / investor beyond the prescribed period of 180 days with approval of RBI | The applicant company was incorporated on Augustust 10, 2013 under the provisions of the Companies Act, 1956 and is engaged in Business of data processing, software development and computer consultancy services. The applicant received foreign inward remittances from (i) M/s.Ultramain Systems INC, USA, (ii) Mark Morris Mcc Ausland, USA and (iii) John Gurney Warren, USA towards subscription to equity shares and reported the same to the Reserve Bank beyond the stipulated period of 30 days. The company alloted shares and filed form FC-GPRs to RBI beyond the period of 30 days from the date of issue of shares to person resident outside India.Further, the un-allotted share application money of ₹ 1,50,233/- received between 21.02.2013 and 07.03.2013 was refunded on 20.05.2016 after 180 days of receipt of investment with the approval of Reserve Bank. | 650,233 | 68,000 | |
| 46 | Ultramain Software India Pvt. Ltd. | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of Form FC-GPR | 8 months | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares; (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank, and (iii) retaining the excess share application money beyond 180 days and delay in refunding the same to the nonresident remitter / investor beyond the prescribed period of 180 days with approval of RBI | The applicant company was incorporated on Augustust 10, 2013 under the provisions of the Companies Act, 1956 and is engaged in Business of data processing, software development and computer consultancy services. The applicant received foreign inward remittances from (i) M/s.Ultramain Systems INC, USA, (ii) Mark Morris Mcc Ausland, USA and (iii) John Gurney Warren, USA towards subscription to equity shares and reported the same to the Reserve Bank beyond the stipulated period of 30 days. The company alloted shares and filed form FC-GPRs to RBI beyond the period of 30 days from the date of issue of shares to person resident outside India.Further, the un-allotted share application money of ₹ 1,50,233/- received between 21.02.2013 and 07.03.2013 was refunded on 20.05.2016 after 180 days of receipt of investment with the approval of Reserve Bank. | 500,000 | 68,000 | |
| 47 | Ultramain Software India Pvt. Ltd. | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in refunding the share application money to the non-resident remitter / investor beyond the prescribed period of 180 days with approval of RBI | 2 years 8 m 16 days to 2 years 8 m 29 days | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares; (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank, and (iii) retaining the excess share application money beyond 180 days and delay in refunding the same to the nonresident remitter / investor beyond the prescribed period of 180 days with approval of RBI | The applicant company was incorporated on Augustust 10, 2013 under the provisions of the Companies Act, 1956 and is engaged in Business of data processing, software development and computer consultancy services. The applicant received foreign inward remittances from (i) M/s.Ultramain Systems INC, USA, (ii) Mark Morris Mcc Ausland, USA and (iii) John Gurney Warren, USA towards subscription to equity shares and reported the same to the Reserve Bank beyond the stipulated period of 30 days. The company alloted shares and filed form FC-GPRs to RBI beyond the period of 30 days from the date of issue of shares to person resident outside India.Further, the un-allotted share application money of ₹ 1,50,233/- received between 21.02.2013 and 07.03.2013 was refunded on 20.05.2016 after 180 days of receipt of investment with the approval of Reserve Bank. | 150,233 | 68,000 | |
| 48 | Suburban Property Developers Pvt. Ltd. | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 8 m 8 days to 1 years 8 months 23 days | (i) Delay in submission of Form FCGPR on allotment of shares with Reserve Bank. | The applicant company was incorporated on June 11, 2012 under the provisions of the Companies Act, 1956 and is engaged in Business of developing and subdividing plots into lots. The applicant received eight foreign inward remittances amounting to ₹ 28,18,85,548/- from M/s. IIROF 5 Helios Ltd, Cyprus towards subscription to equity shares and the same was reported to Reserve Bank.Further, the applicant alloted shares and filed FC-GPRs beyond the period of 30 days | 281,884,980 | 200,580 | |
| 49 | Insona Enterprises Pvt. Ltd. | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 2 years to 3 years | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank, and (iii) allotment of shares to the nonresident investor prior to the receipt of inward remittance | The applicant company was incorporated on June 23, 2008 under the provisions of the Companies Act, 1956 and is engaged in Business of Wholesale trading in Spices, export of coffee green beans and chilly seeds. The applicant received foreign inward remittances from Mr.Young Min Kim and Seoul City Gas Co. Ltd., South Korea towards subscription to equity shares and reported the same to the Reserve Bank beyond the period of 30 days.The applicant filed form FC-GPRs with a delay ranging from four months 16 days to five years nine months six days beyond the prescribed limit in respect of the two allotments from the date of issue of shares to person resident outside India.The company has allotted 200000 shares of ₹10 each towards subscription to Memorandum of Association on 23.06.2008 against remittance of ₹19,77,463.60 received on 12.07.2008 and the balance amount of ₹ 22,536.40 received on 29.08.2008 to the resident inverstor prior to the receipt of inward remittance. | 2,003,526 | 74,419 | |
| 50 | Insona Enterprises Pvt. Ltd. | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of Form FC-GPR | 4 m to 5 years | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank, and (iii) allotment of shares to the nonresident investor prior to the receipt of inward remittance | The applicant company was incorporated on June 23, 2008 under the provisions of the Companies Act, 1956 and is engaged in Business of Wholesale trading in Spices, export of coffee green beans and chilly seeds. The applicant received foreign inward remittances from Mr.Young Min Kim and Seoul City Gas Co. Ltd., South Korea towards subscription to equity shares and reported the same to the Reserve Bank beyond the period of 30 days.The applicant filed form FC-GPRs with a delay ranging from four months 16 days to five years nine months six days beyond the prescribed limit in respect of the two allotments from the date of issue of shares to person resident outside India.The company has allotted 200000 shares of ₹10 each towards subscription to Memorandum of Association on 23.06.2008 against remittance of ₹19,77,463.60 received on 12.07.2008 and the balance amount of ₹ 22,536.40 received on 29.08.2008 to the resident inverstor prior to the receipt of inward remittance. | 17,945,000 | 74,419 | |
| 51 | Insona Enterprises Pvt. Ltd. | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Violation of provision by alloting shares prior to the receipt of inward remittance | 2m 6 days | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank, and (iii) allotment of shares to the nonresident investor prior to the receipt of inward remittance | The applicant company was incorporated on June 23, 2008 under the provisions of the Companies Act, 1956 and is engaged in Business of Wholesale trading in Spices, export of coffee green beans and chilly seeds. The applicant received foreign inward remittances from Mr.Young Min Kim and Seoul City Gas Co. Ltd., South Korea towards subscription to equity shares and reported the same to the Reserve Bank beyond the period of 30 days.The applicant filed form FC-GPRs with a delay ranging from four months 16 days to five years nine months six days beyond the prescribed limit in respect of the two allotments from the date of issue of shares to person resident outside India.The company has allotted 200000 shares of ₹10 each towards subscription to Memorandum of Association on 23.06.2008 against remittance of ₹19,77,463.60 received on 12.07.2008 and the balance amount of ₹ 22,536.40 received on 29.08.2008 to the resident inverstor prior to the receipt of inward remittance. | 22,536 | 74,419 | |
| 52 | Mita Teknik Technology Pvt. Ltd. | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 23 days to 4 months 18 days | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank. | The applicant company was incorporated on December 12, 2007 under the provisions of the Companies Act, 1956 and is engaged in Business of Repair of electrical equipment. The applicant received foreign inward remittances of Rs. 4,26,99,662 from M/s Mita-Teknik A/S, Denmark and M/s.Mita-Teknik Invest Aps, Denmark towards subscription to equity shares and reported the same to the Reserve Bank.Out of the total remittances part remittances where received beyond the stipulated period of 30 days. Further, the applicant alloted shares and filed FC-GPRs beyond the period of 30 days | 11,699,662 | 27,140 | |
| 53 | Mita Teknik Technology Pvt. Ltd. | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of Form FC-GPR | 9 days to 1 m 7 days | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank. | The applicant company was incorporated on December 12, 2007 under the provisions of the Companies Act, 1956 and is engaged in Business of Repair of electrical equipment. The applicant received foreign inward remittances of Rs. 4,26,99,662 from M/s Mita-Teknik A/S, Denmark and M/s.Mita-Teknik Invest Aps, Denmark towards subscription to equity shares and reported the same to the Reserve Bank.Out of the total remittances part remittances where received beyond the stipulated period of 30 days. Further, the applicant alloted shares and filed FC-GPRs beyond the period of 30 days | 26,999,650 | 27,140 | |
| 54 | Agile Electric Sub Assembly Pvt. Ltd. | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- allotment of shares as swap without prior approval of Foreign Investment Promotion Board | 6 years 10 months 12 days | (i) allotment of shares as swap without prior approval of Foreign Investment Promotion Board.(ii)delay in reporting the transfer of shares by nonresident to resident i.e., delay in submission of FCTRS | The applicant is a company incorporated under Companies Act, 1956 on Augustust 10, 2005 and engaged in the business of manufacturing of all types of electric motors, generators, alternators, sub-assemblies and assembly lines.M/s. Agile Electric Drives Technologies and Holdings Pvt Ltd. has allotted 1,50,00,000 shares amounting to ₹15,00,00,000.00 on 31.03.2009 as swap to Mr. Keiichi Igarashi (Non-Resident Individual) in lieu of 55,00,000 shares of M/s Agile Electric Sub-Assembly (P) Ltd held by him without the approval of Foreign Investment Promotion Board (FIPB). Further the applicant made delay in submission of form FC-TRS to AD Category Bank of more than 6 years beyond the period of 60 days | 150,000,000 | 1,802,000 | |
| 55 | Agile Electric Sub Assembly Pvt. Ltd. | Jun/2016 | FDI | FEMA 20/2000-RB | FDI-delay in filing form FC-TRS with the Authorised Dealer | 6 years 1 m 23 days | (i) allotment of shares as swap without prior approval of Foreign Investment Promotion Board.(ii)delay in reporting the transfer of shares by nonresident to resident i.e., delay in submission of FCTRS | The applicant is a company incorporated under Companies Act, 1956 on Augustust 10, 2005 and engaged in the business of manufacturing of all types of electric motors, generators, alternators, sub-assemblies and assembly lines.M/s. Agile Electric Drives Technologies and Holdings Pvt Ltd. has allotted 1,50,00,000 shares amounting to ₹15,00,00,000.00 on 31.03.2009 as swap to Mr. Keiichi Igarashi (Non-Resident Individual) in lieu of 55,00,000 shares of M/s Agile Electric Sub-Assembly (P) Ltd held by him without the approval of Foreign Investment Promotion Board (FIPB). Further the applicant made delay in submission of form FC-TRS to AD Category Bank of more than 6 years beyond the period of 60 days | 150,000,000 | 1,802,000 | |
| 56 | C-Kam Wire Solutions Pvt. Ltd. | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 1 m 3 days to 3 m 2 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares and (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The applicant company was incorporated on July 06, 2010 under the provisions of the Companies Act, 1956 (Registration No: U27107TN2010PTC076468) and is engaged in Business of manufacture of steel radial cords. The applicant received foreign inward remittance amounted to Rs. 35,98,34,906 from Kiswire ArcelorMittal Ltd, South Korea towards subscription to equity shares. Out of this remittance the applicant reported receipt of remittances amounted to 17,83,14,906 to the Reserve Bank with a delay ranging from one month three days to three months two days beyond the stipulated time of 30 days in respect of remittances recorded. Further the applicant alloted equity shares and failed to file Form FC-GPR within 30 days fromthe date of issue of shares to the person resident outside India. | 178,314,906 | 50,250 | |
| 57 | C-Kam Wire Solutions Pvt. Ltd. | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of Form FC-GPR | 4 months 29 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares and (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The applicant company was incorporated on July 06, 2010 under the provisions of the Companies Act, 1956 (Registration No: U27107TN2010PTC076468) and is engaged in Business of manufacture of steel radial cords. The applicant received foreign inward remittance amounted to Rs. 35,98,34,906 from Kiswire ArcelorMittal Ltd, South Korea towards subscription to equity shares. Out of this remittance the applicant reported receipt of remittances amounted to 17,83,14,906 to the Reserve Bank with a delay ranging from one month three days to three months two days beyond the stipulated time of 30 days in respect of remittances recorded. Further the applicant alloted equity shares and failed to file Form FC-GPR within 30 days fromthe date of issue of shares to the person resident outside India. | 100,000 | 50,250 | |
| 58 | Q.E. Electronics Pvt. Ltd. | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 7 days to 2 years | (i) Delayed in reporting of inflow of funds for an amount of Rs. 22,22,871/ received from a person resident outside India for allotment of shares, in terms of Paragraph 9(1) (A) of Schedule 1 to Foreign Exchange Management Regulations, 2000 notified vide Notification No. FEMA 20/2000RB dated 3rd May 2000 as amended from time to time (herein after referred to as FEMA 20/2000 RB) and (ii) delayed submission of form FCGPR for allotment of 22000 shares amounting to Rs. 22,00,000/ in terms of Paragraph 9(1) (B) of Schedule 1 to FEMA 20/2000RB (iii) delayed in issue of shares against remittances received for an amount of Rs.18,40,440/ in terms of Paragraph 8 of Schedule 1 to FEMA 20/2000RB. | The company is engaged in manufacturing of display components (plasma, polymer, LCD, LED. The applicant company had received three foreign inward remittances of Rs. 22,22,871/- for issue of equity shares and however reported it to the RBI beyond the prescribed period of 30 days in contravention of Paragraph 9 (1) A of Schedule 1 to Notification No. FEMA 20/2000-RB dated May 3, 2000. Against the above remittances, the company had allotted 22000 equity shares (amounting to Rs. 22,00,000/-) to the foreign investor with delay ranging from 3 months & 5 days to 2 years, 5 months & 22 days beyond the prescribed period of 180 days, without seeking approval of Reserve Bank in contravention of Paragraph 8 of Schedule 1 to Notification No. FEMA 20/2000-RB dated May 3, 2000. the company had reported to Reserve Bank of India about allotment of shares from the foreign inward remittances beyond the period of 30 days. | 2,222,871 | 62,481 | |
| 59 | Q.E. Electronics Pvt. Ltd. | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of Form FC-GPR | 3 months to 2 years | (i) Delayed in reporting of inflow of funds for an amount of Rs. 22,22,871/ received from a person resident outside India for allotment of shares, in terms of Paragraph 9(1) (A) of Schedule 1 to Foreign Exchange Management Regulations, 2000 notified vide Notification No. FEMA 20/2000RB dated 3rd May 2000 as amended from time to time (herein after referred to as FEMA 20/2000 RB) and (ii) delayed submission of form FCGPR for allotment of 22000 shares amounting to Rs. 22,00,000/ in terms of Paragraph 9(1) (B) of Schedule 1 to FEMA 20/2000RB (iii) delayed in issue of shares against remittances received for an amount of Rs.18,40,440/ in terms of Paragraph 8 of Schedule 1 to FEMA 20/2000RB. | The company is engaged in manufacturing of display components (plasma, polymer, LCD, LED. The applicant company had received three foreign inward remittances of Rs. 22,22,871/- for issue of equity shares and however reported it to the RBI beyond the prescribed period of 30 days in contravention of Paragraph 9 (1) A of Schedule 1 to Notification No. FEMA 20/2000-RB dated May 3, 2000. Against the above remittances, the company had allotted 22000 equity shares (amounting to Rs. 22,00,000/-) to the foreign investor with delay ranging from 3 months & 5 days to 2 years, 5 months & 22 days beyond the prescribed period of 180 days, without seeking approval of Reserve Bank in contravention of Paragraph 8 of Schedule 1 to Notification No. FEMA 20/2000-RB dated May 3, 2000. the company had reported to Reserve Bank of India about allotment of shares from the foreign inward remittances beyond the period of 30 days. | 1,840,440 | 62,481 | |
| 60 | Q.E. Electronics Pvt. Ltd. | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of issue of shares to RBI against remittance received | 18 days to 2 months | (i) Delayed in reporting of inflow of funds for an amount of Rs. 22,22,871/ received from a person resident outside India for allotment of shares, in terms of Paragraph 9(1) (A) of Schedule 1 to Foreign Exchange Management Regulations, 2000 notified vide Notification No. FEMA 20/2000RB dated 3rd May 2000 as amended from time to time (herein after referred to as FEMA 20/2000 RB) and (ii) delayed submission of form FCGPR for allotment of 22000 shares amounting to Rs. 22,00,000/ in terms of Paragraph 9(1) (B) of Schedule 1 to FEMA 20/2000RB (iii) delayed in issue of shares against remittances received for an amount of Rs.18,40,440/ in terms of Paragraph 8 of Schedule 1 to FEMA 20/2000RB. | The company is engaged in manufacturing of display components (plasma, polymer, LCD, LED. The applicant company had received three foreign inward remittances of Rs. 22,22,871/- for issue of equity shares and however reported it to the RBI beyond the prescribed period of 30 days in contravention of Paragraph 9 (1) A of Schedule 1 to Notification No. FEMA 20/2000-RB dated May 3, 2000. Against the above remittances, the company had allotted 22000 equity shares (amounting to Rs. 22,00,000/-) to the foreign investor with delay ranging from 3 months & 5 days to 2 years, 5 months & 22 days beyond the prescribed period of 180 days, without seeking approval of Reserve Bank in contravention of Paragraph 8 of Schedule 1 to Notification No. FEMA 20/2000-RB dated May 3, 2000. the company had reported to Reserve Bank of India about allotment of shares from the foreign inward remittances beyond the period of 30 days. | 2,200,000 | 62,481 | |
| 61 | Mc Donalds India Pvt. Ltd. | Jun/2016 | FDI | FEMA 20/2000-RB | FDI-Delay in allotment of shares | 8 years | (i) Delay in allotment of shares against the balance amount of Rs. 21,70,000/ to its foreign investor beyond the prescribed period of 180 days | The company is engaged in the business of cafeterias, fast-food restaurants and other food preparation in market stalls.The applicant company allotted 217000 equity shares amounting to Rs. 21,70,000/- on April 13, 2016 after getting specific permission for allotment of shares vide our letter dated March 29, 2016. Since the remittance was received in the year 2005 and as per the applicable instructions in terms of Paragraph 5 of A.P. (DIR Series) Circular No. 20 dated 14.12.2007 read with Paragraph 8 of Schedule 1 to Notification No. FEMA 20/2000-RB dated May 3, 2000 the period of delay as calculated from November 28, 2007 to April 13, 2016 (Date of issue of shares) is 8 years 4 months 15 days. Whereas in terms of Paragraph 5 of AP (DIR Series) Circular No. 20 dated December 14, 2007 in all cases where, as on November 28, 2007, 180 days have elapsed since the receipt of funds and equity instruments have not been issued, the company/ies are required to approach the Foreign Exchange Department of the Regional Office concerned of the Reserve Bank of India through their AD category- I bank with a definite action plan, either for allotment of equity instruments or for refund of the advance with full details, for specific approval. Further, in terms of Paragraph 8 of Schedule 1 to FEMA Notification No. 20/2000 RB, equity instruments should be issued within 180 days of the receipt of the inward remittances or date of debit to the NRE/FCNR (B) account as the case may be. | 2,170,000 | 46,275 | |
| 62 | Flakt Woods ACS (India) Pvt. Ltd. | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submitting Form FC-TRS to AD Category- I bank | 1 years 11 months and 24 days | (i) Delay in filing of form FCTRS in terms of Regulation 10A(b)(i) of Foreign Exchange Management (Transfer or Issue of Security by a person Resident Outside India) Regulations, 2000 notified vide Notification No. FEMA 20/2000RB dated 3rd May, 2000 as amended from time to time (hereinafter referred to as Notification No. FEMA 20/2000 RB)and (ii) taking on record the transfer of shares by M/s Flakt (India) Private Limited, a Resident to M/s Flakt Woods ACS S, a.r.l. (Luxembourg), a NonResident without filing certified form FCTRS in contravention of Regulation 4 ibid. | The applicant is engaged in the business of manufacturing of air climate solutions and air handling units.The applicant, transferred 10773511 equity shares to M/s Flakt Woods ACS S. a.r.l., Luxembourg, non-resident company on December 04, 2012 for a total consideration of Rs. 10,77,35,110/-. The FC-TRS for the same was filed with the AD bank on January 28, 2015 . The AD bank was advised vide our letter dated April 27, 2016 to take FC-TRS on record and AD bank certified the form FC-TRS on April 29, 2016. The delay in filing form FC-TRS is in contravention of Regulation 10A(b)(i) of FEMA Notification No.20/ 2000-RB and is of 1 year 11 months and 24 days beyond the prescribed time period of 60 days. Whereas, in terms of Regulation 10A(b)(i) of FEMA Notification No.20/ 2000-RB, the transferor or transferee resident has to adhere to the reporting requirements as specified by the Reserve Bank from time to time. Further,in terms of A.P. (DIR Series) Circular No. 63 dated April 22, 2009, form FC-TRS should be submitted to the AD Category –I bank, within 60 days from the date of receipt of the amount of consideration. | 107,735,110 | 562,000 | |
| 63 | Flakt Woods ACS (India) Pvt. Ltd. | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Transfer of shares without obtaining certified form FC-TRS | 1 years 11 months and 24 days | (i) Delay in filing of form FCTRS in terms of Regulation 10A(b)(i) of Foreign Exchange Management (Transfer or Issue of Security by a person Resident Outside India) Regulations, 2000 notified vide Notification No. FEMA 20/2000RB dated 3rd May, 2000 as amended from time to time (hereinafter referred to as Notification No. FEMA 20/2000 RB)and (ii) taking on record the transfer of shares by M/s Flakt (India) Private Limited, a Resident to M/s Flakt Woods ACS S, a.r.l. (Luxembourg), a NonResident without filing certified form FCTRS in contravention of Regulation 4 ibid. | The applicant is engaged in the business of manufacturing of air climate solutions and air handling units.The applicant, transferred 10773511 equity shares to M/s Flakt Woods ACS S. a.r.l., Luxembourg, non-resident company on December 04, 2012 for a total consideration of Rs. 10,77,35,110/-. The FC-TRS for the same was filed with the AD bank on January 28, 2015 . The AD bank was advised vide our letter dated April 27, 2016 to take FC-TRS on record and AD bank certified the form FC-TRS on April 29, 2016. The delay in filing form FC-TRS is in contravention of Regulation 10A(b)(i) of FEMA Notification No.20/ 2000-RB and is of 1 year 11 months and 24 days beyond the prescribed time period of 60 days. Whereas, in terms of Regulation 10A(b)(i) of FEMA Notification No.20/ 2000-RB, the transferor or transferee resident has to adhere to the reporting requirements as specified by the Reserve Bank from time to time. Further,in terms of A.P. (DIR Series) Circular No. 63 dated April 22, 2009, form FC-TRS should be submitted to the AD Category –I bank, within 60 days from the date of receipt of the amount of consideration. | 107,735,110 | 562,000 | |
| 64 | IN- RVDS Electrical Consulting Pvt. Ltd. | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 1 years | (i) Delay in reporting of inflow of funds received from person resident outside India fro allotment of share. (ii) Delay in reporting of allotment of shares to foreign investors by way of submission of Form FCGPR | The company is engaged in business of technical testing and analysis – automotive electrical & electronics design & development & engineering project. The applicant company had received a foreign inward remittance of Rs. 35,15,750/- on 20.11.2013 for issue of equity shares and however reported it to the RBI with a delay of 1 year 5 months and 26 days beyond the prescribed period of 30 days in contravention of Paragraph 9 (1) A of Schedule 1 to Notification No. FEMA 20/2000-RB dated May 3, 2000. Against the above remittance, the company allotted 3,51,575 equity shares (amounting to Rs. 35,15,750/-) to the foreign investors on 07.01.2014 and reported the same to the RBI with a delay of 1 year 5 months and 17 days beyond the prescribed period in contravention of Paragraph 9(1) (B) of Schedule 1 to Notification No. FEMA 20/2000-RB dated May 3, 2000 | 3,515,750 | 27,500 | |
| 65 | IN- RVDS Electrical Consulting Pvt. Ltd. | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of Form FC-GPR | 1 years | (i) Delay in reporting of inflow of funds received from person resident outside India fro allotment of share. (ii) Delay in reporting of allotment of shares to foreign investors by way of submission of Form FCGPR | The company is engaged in business of technical testing and analysis – automotive electrical & electronics design & development & engineering project. The applicant company had received a foreign inward remittance of Rs. 35,15,750/- on 20.11.2013 for issue of equity shares and however reported it to the RBI with a delay of 1 year 5 months and 26 days beyond the prescribed period of 30 days in contravention of Paragraph 9 (1) A of Schedule 1 to Notification No. FEMA 20/2000-RB dated May 3, 2000. Against the above remittance, the company allotted 3,51,575 equity shares (amounting to Rs. 35,15,750/-) to the foreign investors on 07.01.2014 and reported the same to the RBI with a delay of 1 year 5 months and 17 days beyond the prescribed period in contravention of Paragraph 9(1) (B) of Schedule 1 to Notification No. FEMA 20/2000-RB dated May 3, 2000 | 3,515,750 | 27,500 | |
| 66 | South Asia FM Limited | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Foreign inward remittances not reported within 30 days | 3 months | (i) the delay in reporting foreign inward remittances beyond the prescribed period; (ii) delay in reporting allotment of equity shares and Compulsorily Convertible Preference Shares (CCPS) after receipt of the funds from the overseas entity and (iii) contravention of pricing guidelines under the prevailing Foreign Direct Investment (FDI) policy for issue of CCPS | The applicant was incorporated as South Asia FM Private Limited on November 09, 2005 under the Companies Act, 1956. The name of the applicant was changed to South Asia FM Limited on December 27, 20005. The applicant is engaged in the business of operating FM Radio Stations. The applicant received foreign inward remittances from a foreign investor, South Asia Multimedia Technologies Limited, Mauritius in several tranches from February, 2008 to Augustust, 2010. The applicant delayed in reporting the foreign inward remittance to RBI within the stipulated period of 30 days | 1,922,853,995 | 363,000 | |
| 67 | South Asia FM Limited | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Late filing of Form FC-GPR subsequent to allotment of shares to the overseas entity | 2 days to 4 months | (i) the delay in reporting foreign inward remittances beyond the prescribed period; (ii) delay in reporting allotment of equity shares and Compulsorily Convertible Preference Shares (CCPS) after receipt of the funds from the overseas entity and (iii) contravention of pricing guidelines under the prevailing Foreign Direct Investment (FDI) policy for issue of CCPS | The applicant was incorporated as South Asia FM Private Limited on November 09, 2005 under the Companies Act, 1956. The name of the applicant was changed to South Asia FM Limited on December 27, 20005. The applicant is engaged in the business of operating FM Radio Stations. The applicant received foreign inward remittances from a foreign investor, South Asia Multimedia Technologies Limited, Mauritius in several tranches from February, 2008 to Augustust, 2010. The applicant delayed in reporting the foreign inward remittance to RBI within the stipulated period of 30 days | 829,358,030 | 363,000 | |
| 68 | South Asia FM Limited | Jun/2016 | FDI | FEMA 20/2000-RB | FDI- Issuance of CCPS to N.R. investor without determining the price or the conversion formula upfront as per the prevailing FDI Policy | 5 years | (i) the delay in reporting foreign inward remittances beyond the prescribed period; (ii) delay in reporting allotment of equity shares and Compulsorily Convertible Preference Shares (CCPS) after receipt of the funds from the overseas entity and (iii) contravention of pricing guidelines under the prevailing Foreign Direct Investment (FDI) policy for issue of CCPS | The applicant was incorporated as South Asia FM Private Limited on November 09, 2005 under the Companies Act, 1956. The name of the applicant was changed to South Asia FM Limited on December 27, 20005. The applicant is engaged in the business of operating FM Radio Stations. The applicant received foreign inward remittances from a foreign investor, South Asia Multimedia Technologies Limited, Mauritius in several tranches from February, 2008 to Augustust, 2010. The applicant delayed in reporting the foreign inward remittance to RBI within the stipulated period of 30 days | 28,000,000 | 363,000 | |
| 69 | Atria Convergence Technologies Pvt. Ltd. | Jun/2016 | FDI | FEMA 20/2000-RB | FDI - Exceeding sectoral caps | 6 years | (i) exceeding the sectoral cap on foreign investment as applicable to the sector while making indirect foreign investment without the prior approval of the Government / Reserve Bank of India (ii) nonreporting of indirect foreign investment to the Reserve Bank of India (RBI) within the prescribed period; (iii) investment in dormant companies without prior Foreign Investment Promotion Board (FIPB) approval; and (iv) merger with resident company without prior FIPB approval subsequent to downstream investment in the company. | The applicant is an Indian resident company engaged in the business of providing wireline broadband Internet services. In 2008, India Value Fund III A (IVF III A), a Domestic resident Venture Capital Fund (DVCF), invested in 65% of the equity of the applicant through direct and indirect investments. Indium III (Mauritius) Limited, a Foreign Venture Capital Investor (FVCI) having 100% ownership by non-residents held 90% of the units of IVF III A. On receiving the investments from IVF III A from 2008 onwards, the applicant made further downstream investments in multiple Indian entities engaged in Cable Network, Multi System Operators (MSO) and Internet Service Provider (ISP) activities. FIPB vide its letter No.40 (2015)/265(2013) dated June 23, 2015 held that the applicant had crossed the permissible limit on foreign investment while receiving investments without their prior approval and the subsequent downstream investments by the applicant had also exceeded the permissible limits on foreign investment, thereby requiring regularization and compounding. Further, the FIPB in a subsequent letter dated February 25, 2016 pointed out additional contraventions in respect of downstream investments by the applicant relating to merger with a resident company and investments in dormant step down subsidiaries without prior FIPB approval. | (ii) 78,21,86,074 (iii) 7,45,00,000 (iv) 112,62,33,374 | 7,341,300 | |
| 70 | Anuapam MHI Industries Ltd. | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 5 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is engaged in carrying on business of design, engineering, Manufacture, Fabrication, Assembly, Marketing and selling , installation and providing after sales services for the port crane; bulk handling equipment; forging and ladle cranes. The applicant company has received total twelve inflows amounting to Rs.7,13,40,00,000/-from Foreign investors under automatic route. The applicant reported the receipt of twelve inward remittances, amounting to Rs.7,13,40,00,000/- to the Ahmedabad Regional Office of the Reserve Bank of India. Out of which, eleven inflows amounting to Rs.6,73,50,00,000/-were reported well within stipulated period. However one inflow amounting to Rs.39,90,00,000/-was reported beyond the stipulated period. The applicant alloted shares and filed form FC-GPRs. The applicant has filed twelve form FC-GPRs amounting to ₹7,13,40,00,000/-. Out of which, eight form FC-GPRs amounting to ₹3,96,45,00,000/-were filed well within stipulated period. However four form FC-GPRs amounting to ₹3,16,95,00,000/- were filed after the expiry of 30 days from from the date of issue of shares to the overseas investors. | 399,000,000 | 101,000 | |
| 71 | Anuapam MHI Industries Ltd. | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 4 days to 104 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is engaged in carrying on business of design, engineering, Manufacture, Fabrication, Assembly, Marketing and selling , installation and providing after sales services for the port crane; bulk handling equipment; forging and ladle cranes. The applicant company has received total twelve inflows amounting to Rs.7,13,40,00,000/-from Foreign investors under automatic route. The applicant reported the receipt of twelve inward remittances, amounting to Rs.7,13,40,00,000/- to the Ahmedabad Regional Office of the Reserve Bank of India. Out of which, eleven inflows amounting to Rs.6,73,50,00,000/-were reported well within stipulated period. However one inflow amounting to Rs.39,90,00,000/-was reported beyond the stipulated period. The applicant alloted shares and filed form FC-GPRs. The applicant has filed twelve form FC-GPRs amounting to ₹7,13,40,00,000/-. Out of which, eight form FC-GPRs amounting to ₹3,96,45,00,000/-were filed well within stipulated period. However four form FC-GPRs amounting to ₹3,16,95,00,000/- were filed after the expiry of 30 days from from the date of issue of shares to the overseas investors. | 3,169,500,000 | 101,000 | |
| 72 | Fivebro International Pvt. Ltd | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 1 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is is engaged in carrying on business of manufacturing, fabricating, marketing, import, export, trade and deal in any kind of chemicals and other materials used in water, water purification.The applicant reported the receipt of three inward remittances, amounting to Rs.1582.99/- lakh (Rs.15,82,99,264/-) to the Ahmedabad Regional Office of the Reserve Bank of India. Out of which, two inflows amounting to Rs.13,49,93,014/-were reported well within stipulated period. However one inflow amounting to Rs.2,33,06,250/- was reported with the delay of 1 day. which was condoned. The applicant alloted equity shares and further has filed two form FC-GPRs amounting to Rs.12,29,37,100/ beyond the delay of 30 days from the date of issue of shares to the overseas investors. | 23,306,250 | 131,000 | |
| 73 | Fivebro International Pvt. Ltd | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 234 to 623 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is is engaged in carrying on business of manufacturing, fabricating, marketing, import, export, trade and deal in any kind of chemicals and other materials used in water, water purification.The applicant reported the receipt of three inward remittances, amounting to Rs.1582.99/- lakh (Rs.15,82,99,264/-) to the Ahmedabad Regional Office of the Reserve Bank of India. Out of which, two inflows amounting to Rs.13,49,93,014/-were reported well within stipulated period. However one inflow amounting to Rs.2,33,06,250/- was reported with the delay of 1 day. which was condoned. The applicant alloted equity shares and further has filed two form FC-GPRs amounting to Rs.12,29,37,100/ beyond the delay of 30 days from the date of issue of shares to the overseas investors. | 122,937,100 | 131,000 | |
| 74 | Shiva Mall and Hotels Pvt. Ltd | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 273 days | (i) Delay in submission of Form FCGPR on allotment of shares with Reserve Bank, and (ii) allotment of shares to the nonresident investor prior to the receipt of inward remittance | The applicant company is engaged in carrying on business of developing hotels. The applicant company has received total four inflows amounting to Rs.60,00,00,000/- from Foreign investors under automatic route and reported the same to Reserve Bank of India within the stipulated period of time. The applicant allotted equity shares and filed FC-GPRs beyond the prescrivbed timeline of 30 days from the date of issue of shares to overseas investor. It has been found that out of the total amount ₹ 60,00,00,000/-received from the foreign investors by the applicant company the Company issued 0% Convertible debentures (CCDs) with a face value o ₹7/- at a premium of ₹ 10/ - each required to be converted at the option of the company after 5 years from the date of allotment of the debentures (CCDs) beyond prescribed limit of 180 days without the prior permission of the Reserve Bank of India. | 6,000,000 | 5,789,500 | |
| 75 | Shiva Mall and Hotels Pvt. Ltd | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of allotment of shares in prescribed period | 2270 to 2374 days | (i) Delay in submission of Form FCGPR on allotment of shares with Reserve Bank, and (ii) allotment of shares to the nonresident investor prior to the receipt of inward remittance | The applicant company is engaged in carrying on business of developing hotels. The applicant company has received total four inflows amounting to Rs.60,00,00,000/- from Foreign investors under automatic route and reported the same to Reserve Bank of India within the stipulated period of time. The applicant allotted equity shares and filed FC-GPRs beyond the prescrivbed timeline of 30 days from the date of issue of shares to overseas investor. It has been found that out of the total amount ₹ 60,00,00,000/-received from the foreign investors by the applicant company the Company issued 0% Convertible debentures (CCDs) with a face value o ₹7/- at a premium of ₹ 10/ - each required to be converted at the option of the company after 5 years from the date of allotment of the debentures (CCDs) beyond prescribed limit of 180 days without the prior permission of the Reserve Bank of India. | 6,000,000 | 5,789,500 | |
| 76 | Aviagen India Poultry Breeding Company Pvt Ltd. | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 1 days to 2 months 28 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is engaged in business of poultry breeding and hatching. The applicant received 49 foreign inward remittances between January 11, 2008 and February 29, 2016 amounting to ₹ 146,50,03,283.90/- from M/s.Aviagen International Holdings Ltd, United Kingdom, and M/s.Aviagen International Finance Four Limited, United Kingdom towards subscription to equity shares. The applicant company has been compounded earlier by RBI, Central Office vide CA No.1452/2011 dated April 13, 2011 for delay in reporting of inward remittances received between January 11, 2008 and July 20, 2010. Afterwards, the applicant company has received 14 inward remittances towards subscription to equity shares and reported the same to the Reserve Bank beyond the stipulated period of 30 days from the date of receipt of consideration. The company allotted equity shares on 19 occasions between 31.03.2008 and 09.03.2016 amounting to ₹ 146,50,03,230/- and has been compounded earlier by RBI, Central Office vide CA No.1452/2011 dated April 13, 2011 for delay in filing of FC-GPR with respect to shares allotted between March 31, 2008 and Augustust 17, 2010. Afterwards, the company has filed 12 FC-GPR out of which few were filed beyond the period of 30 days from the date of issue of shares to the person resident outside India. | 32,125,000 | 145,500 | |
| 77 | Aviagen India Poultry Breeding Company Pvt Ltd. | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 1 days to 3 months and 2 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is engaged in business of poultry breeding and hatching. The applicant received 49 foreign inward remittances between January 11, 2008 and February 29, 2016 amounting to ₹ 146,50,03,283.90/- from M/s.Aviagen International Holdings Ltd, United Kingdom, and M/s.Aviagen International Finance Four Limited, United Kingdom towards subscription to equity shares. The applicant company has been compounded earlier by RBI, Central Office vide CA No.1452/2011 dated April 13, 2011 for delay in reporting of inward remittances received between January 11, 2008 and July 20, 2010. Afterwards, the applicant company has received 14 inward remittances towards subscription to equity shares and reported the same to the Reserve Bank beyond the stipulated period of 30 days from the date of receipt of consideration. The company allotted equity shares on 19 occasions between 31.03.2008 and 09.03.2016 amounting to ₹ 146,50,03,230/- and has been compounded earlier by RBI, Central Office vide CA No.1452/2011 dated April 13, 2011 for delay in filing of FC-GPR with respect to shares allotted between March 31, 2008 and Augustust 17, 2010. Afterwards, the company has filed 12 FC-GPR out of which few were filed beyond the period of 30 days from the date of issue of shares to the person resident outside India. | 377,826,100 | 145,500 | |
| 78 | C-KAM Steel Wire Solutions Pvt Ltd | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 1 months 3 days to 3 months 2 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is engaged in the business of manufacture of steel radial cordsThe applicant received foreign inward remittance from Kiswire ArcelorMittal Ltd, South Korea towards subscription to equity shares and reported the same to the Reserve Bank. The applicant reported receipt of remittances to the Reserve Bank beyond the stipulated time of 30 days from the date of receipt of the amount of consideration. Further, the applicant made allotment of shares from the receipt of foreign inward remittances and filed form FC-GPRs to RBI beyond the period of 30 days from the date of issue of shares to person resident outside India. | 178,314,906 | 50,250 | |
| 79 | C-KAM Steel Wire Solutions Pvt Ltd | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 4 months 29 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is engaged in the business of manufacture of steel radial cordsThe applicant received foreign inward remittance from Kiswire ArcelorMittal Ltd, South Korea towards subscription to equity shares and reported the same to the Reserve Bank. The applicant reported receipt of remittances to the Reserve Bank beyond the stipulated time of 30 days from the date of receipt of the amount of consideration. Further, the applicant made allotment of shares from the receipt of foreign inward remittances and filed form FC-GPRs to RBI beyond the period of 30 days from the date of issue of shares to person resident outside India. | 100,000 | 50,250 | |
| 80 | Consleague Consulting Private Ltd. | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 7 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is engaged in development of Information Technology Software. The applicant received foreign inward remittances amounted to Rs. 73,79,165 towards subscription to equity shares. The applicant reported receipt of advance remittance amounting to Rs 73,79,165/- to Kolkata Regional Office of Reserve Bank within the stipulated period. The applicant allotted equity shares for a face value of Rs.10/- per share and filed FC-GPRs beyond the stipulated period of 30 days from the date of issue of shares. The excess amount of Rs 5643 against allotment of shares for two foreign inward remittances was allowed to be refunded to overseas investor as neither shares were allotted nor refund was initiated within 180 days from receipt of remittance | 3,903,970 | 13,125 | |
| 81 | Dengensha India Pvt Ltd | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 17 days to 19 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is engaged in the business of manufacture of other electrical equipment. The applicant received foreign inward remittance amounting to Rs. 2,60,00,000 from M/s Dengensha Manufacturing Co. Ltd., Japan and M/s Dengen Service Co Ltd, Japan towards subscription to equity shares and reported the same to the Reserve Bank beyond the period of 30 days from the date of issue of shares to person resident outside India. Further, the applicant made allotment of shares from the receipt of foreign inward remittances and filed form FC-GPRs to RBI beyond the period of 30 days from the date of issue of shares to person resident outside India. | 26,000,000 | 28,640 | |
| 82 | Dengensha India Pvt Ltd | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 23 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is engaged in the business of manufacture of other electrical equipment. The applicant received foreign inward remittance amounting to Rs. 2,60,00,000 from M/s Dengensha Manufacturing Co. Ltd., Japan and M/s Dengen Service Co Ltd, Japan towards subscription to equity shares and reported the same to the Reserve Bank beyond the period of 30 days from the date of issue of shares to person resident outside India. Further, the applicant made allotment of shares from the receipt of foreign inward remittances and filed form FC-GPRs to RBI beyond the period of 30 days from the date of issue of shares to person resident outside India. | 26,000,000 | 28,640 | |
| 83 | Dicronite India Private Ltd | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 3 days to 1 years 1 months 27 days | (i) Delay in submission of Form FCGPR on allotment of shares with Reserve Bank, and (ii) allotment of shares to the nonresident investor prior to the receipt of inward remittance | The applicant company is engaged in Business of machining, treatment and coating of metals. The applicant received two foreign inward remittances from M/s.SAT International LLC, USA towards subscription to equity shares.Against the two inward remittances, the company allotted equity shares and filed FC-GPRs to RBI beyond the period of 30 days from the date of issue of shares to person resident outside India. The company has allotted 9000 shares of ₹10 each towards subscription to Memorandum of Association on 13.12.2013 against the remittance of ₹ 90,000/- received on 19.05.2014. The shares have to be issued within 180 days from the date of receipt of the inward remittance, the company had allotted shares to the non-resident investor prior to the receipt of inward remittance. | 1,551,120 | 20,800 | |
| 84 | The Malayala Manorama Company Limited | Jul/2016 | ODI | FEMA 120/RB-2004 | ODI- Delay in filing form ODI | 6 m to 10 years | (i) Delay in filing Form ODI (ii) nonreporting of setting up of stepdown subsidiary within the stipulated time period (iii) nonreceipt of share certificates within the stipulated time period and (iv) nonsubmission of Annual Performance Reports (APR) within the stipulated time period. | The applicant is engaged in the business of printing and publishing of newspapers and periodicals. A Wholly Owned Subsidiary (WOS) of the applicant company, namely, Malayala Manorama FZ LLC was incorporated in Dubai on November 21, 2005. Further, a step-down subsidiary, namely, Malayala Manorama Fujairah FZ LLC was set up in 2013-14. The applicant company made the Overseas Direct Investments in the WOS amounted to Rs. 180576705. The applicant company made delay in filing Form- ODI . Further the applicant did not submit the APR within the stipulated period of time. | 180,576,705 | 1,313,681 | |
| 85 | The Malayala Manorama Company Limited | Jul/2016 | ODI | FEMA 120/RB-2004 | ODI- Non Reporting of Setting up of step-down subsidiary | 1 years | (i) Delay in filing Form ODI (ii) nonreporting of setting up of stepdown subsidiary within the stipulated time period (iii) nonreceipt of share certificates within the stipulated time period and (iv) nonsubmission of Annual Performance Reports (APR) within the stipulated time period. | The applicant is engaged in the business of printing and publishing of newspapers and periodicals. A Wholly Owned Subsidiary (WOS) of the applicant company, namely, Malayala Manorama FZ LLC was incorporated in Dubai on November 21, 2005. Further, a step-down subsidiary, namely, Malayala Manorama Fujairah FZ LLC was set up in 2013-14. The applicant company made the Overseas Direct Investments in the WOS amounted to Rs. 180576705. The applicant company made delay in filing Form- ODI . Further the applicant did not submit the APR within the stipulated period of time. | 175,065,488 | 1,313,681 | |
| 86 | The Malayala Manorama Company Limited | Jul/2016 | ODI | FEMA 120/RB-2004 | ODI- Delay in submission of receipt of share certificate | 8 years | (i) Delay in filing Form ODI (ii) nonreporting of setting up of stepdown subsidiary within the stipulated time period (iii) nonreceipt of share certificates within the stipulated time period and (iv) nonsubmission of Annual Performance Reports (APR) within the stipulated time period. | The applicant is engaged in the business of printing and publishing of newspapers and periodicals. A Wholly Owned Subsidiary (WOS) of the applicant company, namely, Malayala Manorama FZ LLC was incorporated in Dubai on November 21, 2005. Further, a step-down subsidiary, namely, Malayala Manorama Fujairah FZ LLC was set up in 2013-14. The applicant company made the Overseas Direct Investments in the WOS amounted to Rs. 180576705. The applicant company made delay in filing Form- ODI . Further the applicant did not submit the APR within the stipulated period of time. | 174,377,190 | 1,313,681 | |
| 87 | The Malayala Manorama Company Limited | Jul/2016 | ODI | FEMA 120/RB-2004 | ODI- Delay in submission of APR | 1 years to 9 years | (i) Delay in filing Form ODI (ii) nonreporting of setting up of stepdown subsidiary within the stipulated time period (iii) nonreceipt of share certificates within the stipulated time period and (iv) nonsubmission of Annual Performance Reports (APR) within the stipulated time period. | The applicant is engaged in the business of printing and publishing of newspapers and periodicals. A Wholly Owned Subsidiary (WOS) of the applicant company, namely, Malayala Manorama FZ LLC was incorporated in Dubai on November 21, 2005. Further, a step-down subsidiary, namely, Malayala Manorama Fujairah FZ LLC was set up in 2013-14. The applicant company made the Overseas Direct Investments in the WOS amounted to Rs. 180576705. The applicant company made delay in filing Form- ODI . Further the applicant did not submit the APR within the stipulated period of time. | 180,576,705 | 1,313,681 | |
| 88 | International Orthopaedic Rehabilitation and Prevention (India) Private Limited | Jul/2016 | ECB | FEMA 3/2000-RB | Drawdown of ECB before obtaining LRN from RBI | 2 years | (i) The borrower is not an eligible borrower in terms of extant ECB guidelines; (ii) the lender is not a recognized lender; and (iii) draw down of the ECB before obtaining Loan Registration Number (LRN) from the Reserve Bank of India (RBI) and nonadherence to reporting requirements. | The applicant is engaged in the business of healthcare and running orthopaedic rehabilitation centres in India. In order to further expand its activities to set up new orthopaedic rehabilitation healthcare centres in India, the applicant entered into a Grant agreement on Augustust 30, 2014 to avail ECB of EUR 500,000 from DEG – Deutsche Investitions – und Entwicklungsgegesellschaft mbH (a Germany based financial institution). The applicant received first drawdown amount of EUR 2,10,000 (Rs.1,61,74,200) on November 19, 2014. The applicant initially made an application to the Reserve Bank of India (RBI) through its authorized dealer (AD) bank on June 27, 2015 for allotment of Loan Registration Number (LRN) under the automatic route. Thereafter, the applicant submitted application for LRN, together with ECB reporting, under the Approval Route on Augustust 03, 2015. However, the applicant was advised vide RBI letter FED.CO.ECBD 5100/03.02.767/2015-16 dated October 28, 2015 that their request for post facto approval for LRN under the Approval Route could not be acceded to and the applicant was further advised to return the drawdown amount of EUR 2,10,000 to the overseas lender. The drawdown of the ECB by the applicant was made prior to obtaining LRN from the RBI and without adhering to the reporting requirements applicable thereon. | 16,174,200 | 147,000 | |
| 89 | Dicronite India Private Ltd | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of allotment of shares in prescribed period | 5 months and 6 days | (i) Delay in submission of Form FCGPR on allotment of shares with Reserve Bank, and (ii) allotment of shares to the nonresident investor prior to the receipt of inward remittance | The applicant company is engaged in Business of machining, treatment and coating of metals. The applicant received two foreign inward remittances from M/s.SAT International LLC, USA towards subscription to equity shares.Against the two inward remittances, the company allotted equity shares and filed FC-GPRs to RBI beyond the period of 30 days from the date of issue of shares to person resident outside India. The company has allotted 9000 shares of ₹10 each towards subscription to Memorandum of Association on 13.12.2013 against the remittance of ₹ 90,000/- received on 19.05.2014. The shares have to be issued within 180 days from the date of receipt of the inward remittance, the company had allotted shares to the non-resident investor prior to the receipt of inward remittance. | 90,000 | 20,800 | |
| 90 | Emergys Software Pvt Ltd | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 1 days to 3 months 14 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company engaged in business of software development and software services. The applicant received five foreign inward remittances between September 3, 2001 and May 15, 2012 amounting to ₹ 1,31,50,923.75/- from Shri.Jai Shankar, USA towards subscription to equity shares. The applicant company has been compounded earlier by RBI, Central Office vide CA No.17/2005 dated June 01,2006 for delay in reporting of inward remittance of ₹ 9,37,450/- received on September 3, 2001. Afterwards, the applicant company has received four inward remittances towards subscription to equity shares and reported the same to the Reserve Bank beyond the stipulated time of 30 days in respect of remittances recorded. The company allotted equity shares on three occasions between December 4, 2002 and July 23, 2012 amounting to ₹ 1,31,50,934/- and has been compounded earlier by RBI, Central Office vide CA No.17/2005 dated June 01,2006 for delay in filing of FC-GPR with respect to shares allotted on December 4, 2002 and December 31, 2002. | 12,213,473 | 38,678 | |
| 91 | Emergys Software Pvt Ltd | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 7 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company engaged in business of software development and software services. The applicant received five foreign inward remittances between September 3, 2001 and May 15, 2012 amounting to ₹ 1,31,50,923.75/- from Shri.Jai Shankar, USA towards subscription to equity shares. The applicant company has been compounded earlier by RBI, Central Office vide CA No.17/2005 dated June 01,2006 for delay in reporting of inward remittance of ₹ 9,37,450/- received on September 3, 2001. Afterwards, the applicant company has received four inward remittances towards subscription to equity shares and reported the same to the Reserve Bank beyond the stipulated time of 30 days in respect of remittances recorded. The company allotted equity shares on three occasions between December 4, 2002 and July 23, 2012 amounting to ₹ 1,31,50,934/- and has been compounded earlier by RBI, Central Office vide CA No.17/2005 dated June 01,2006 for delay in filing of FC-GPR with respect to shares allotted on December 4, 2002 and December 31, 2002. | 12,213,484 | 38,678 | |
| 92 | Disney Broadcasting (India) Limited | Jul/2016 | Current Account Transactions Rules | Current Account Transactions Rules, 2000 | B/L- No person shall draw foreign exchange for a transaction without prior approval of Government of India | 1 years to 4 years | Remittance of hiring charges for transponders without prior approval of the Ministry of Information and Broadcasting | The name of the applicant changed to UTV Entertainment Television Limited with effect from November 5, 2007 and subsequently to Disney Broadcasting (India) Limited on June 17, 2015 (CIN: U64200MH2007PLC170405). The applicant is engaged in the business of broadcasting entertainment channels (not being a news and current affairs channel). The applicant remitted an aggregate sum of INR 2,63,44,352 (USD 428,750) to M/s Globecast Asia Pte. Ltd., Singapore (hereinafter referred to as Globecast), towards hiring charges for availing transponder services on foreign satellite “Galaxy-23”, for the period commencing from April 1, 2012 to July 30, 2014. Similarly, the applicant remitted an aggregate sum of INR 7,77,41,276 (Euro 1,014,383) to Globecast towards hiring charges for availing transponder services on foreign satellite “Eurobird –I”, for the period commencing from December 12, 2011 to July 30, 2014. | 104,085,628 | 652,300 | |
| 93 | Modern Montessori International (India) Private Limited. | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 10 years 9 months 23 days to 10 years 10 months 8 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The company is engaged in administration of teacher training and pre nursery education. The applicant company had received 4 inward remittances amounting to Rs. 37,09,242.75 from 23.02.2004 to 08.04.2004 which were reported to RBI after the expiry of 30 days from the date of receipt of consideration. Further, the applicant made allotment of shares amounting to Rs.36,75,000 from the receipt of foreign inward remittances and filed form FC-GPRs to RBI beyond the period of 30 days from the date of issue of shares to person resident outside India. | 3,709,242 | 74,175 | |
| 94 | Modern Montessori International (India) Private Limited. | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 10 years 8 months and 17 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The company is engaged in administration of teacher training and pre nursery education. The applicant company had received 4 inward remittances amounting to Rs. 37,09,242.75 from 23.02.2004 to 08.04.2004 which were reported to RBI after the expiry of 30 days from the date of receipt of consideration. Further, the applicant made allotment of shares to Rs.36,75,000 from the receipt of foreign inward remittances and filed form FC-GPRs to RBI beyond the period of 30 days from the date of issue of shares to person resident outside India. | 3,675,000 | 74,175 | |
| 95 | Regenersis (India) Private Limited | Jul/2016 | ODI | FEMA 120/RB-2004 | ODI- Non submission of APRs | 2 years | (i) Delay in submission of Annual Performance Reports (ii) delay in reporting disinvestment of their wholly owned subsidiary, (iii) Delay in submission of Form ODI within the period of 1 year | The company is engaged in the business of repair and maintenance of computers and computer based systems.The applicant company invested in a Joint Venture ‘Digicomp Electronics Testing Services (DETS) Pte Ltd.’ incorporated in Singapore on January 18, 2010 to carry on the business of testing, repairing, refurbishing, maintaining etc. of IT related products pursuant to a JV agreement dated 18/1/2010. A sum of SGD 1,00,000/- (INR 33,02,000/-)was remitted by the applicant on March 11, 2010 for investment under the Automatic Route, in the equity capital of the Joint Venture in Singapore. Form ODI dated March 17, 2010 was submitted to RBI through the AD bank Kotak Mahindra Bank, Bangalore, based on which the Unique Identification Number (UIN) BGJAZ20100126 was allotted to the company vide RBI letter dated March 31, 2010. | 3,302,000 | 38,000 | |
| 96 | Regenersis (India) Private Limited | Jul/2016 | ODI | FEMA 120/RB-2004 | ODI- Delay in reporting disinvestment of WOS | 2 years, 7 months 8 days and 1 year, 7 months, 8 days | (i) Delay in submission of Annual Performance Reports (ii) delay in reporting disinvestment of their wholly owned subsidiary, (iii) Delay in submission of Form ODI within the period of 1 year | The company is engaged in the business of repair and maintenance of computers and computer based systems.The applicant company invested in a Joint Venture ‘Digicomp Electronics Testing Services (DETS) Pte Ltd.’ incorporated in Singapore on January 18, 2010 to carry on the business of testing, repairing, refurbishing, maintaining etc. of IT related products pursuant to a JV agreement dated 18/1/2010. A sum of SGD 1,00,000/- (INR 33,02,000/-)was remitted by the applicant on March 11, 2010 for investment under the Automatic Route, in the equity capital of the Joint Venture in Singapore. Form ODI dated March 17, 2010 was submitted to RBI through the AD bank Kotak Mahindra Bank, Bangalore, based on which the Unique Identification Number (UIN) BGJAZ20100126 was allotted to the company vide RBI letter dated March 31, 2010. | 3,302,000 | 38,000 | |
| 97 | Regenersis (India) Private Limited | Jul/2016 | ODI | FEMA 120/RB-2004 | ODI- Delay in submission of Form ODI | 2 years, 7 months 8 days and 1 year, 7 months, 8 days | (i) Delay in submission of Annual Performance Reports (ii) delay in reporting disinvestment of their wholly owned subsidiary, (iii) Delay in submission of Form ODI within the period of 1 year | The company is engaged in the business of repair and maintenance of computers and computer based systems.The applicant company invested in a Joint Venture ‘Digicomp Electronics Testing Services (DETS) Pte Ltd.’ incorporated in Singapore on January 18, 2010 to carry on the business of testing, repairing, refurbishing, maintaining etc. of IT related products pursuant to a JV agreement dated 18/1/2010. A sum of SGD 1,00,000/- (INR 33,02,000/-)was remitted by the applicant on March 11, 2010 for investment under the Automatic Route, in the equity capital of the Joint Venture in Singapore. Form ODI dated March 17, 2010 was submitted to RBI through the AD bank Kotak Mahindra Bank, Bangalore, based on which the Unique Identification Number (UIN) BGJAZ20100126 was allotted to the company vide RBI letter dated March 31, 2010. | 3,302,000 | 38,000 | |
| 98 | Morgan Mckinley Services Pvt Ltd | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 3 months 3 days to 11 months 14 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is is engaged in the business of data processing, software development and computer consultancy. The applicant received foreign inward remittance from (i) M/s Rosaleen Geradline Thomas, Ireland, (ii) Mr. Brian Patrick Murphy, Ireland, (iii) Micheal Augustustine Hinchion, Ireland and (iv) Patrick Joseph Fitzgerald, Ireland towards subscription to equity shares and reported the same to the Reserve Bank afer the expiry of 30 days from the date of receipt of consideration. Further, the applicant made allotment of shares from the receipt of foreign inward remittances and filed form FC-GPRs to RBI beyond the period of 30 days from the date of issue of shares to person resident outside India. | 5,317,075 | 49,075 | |
| 99 | Morgan Mckinley Services Pvt Ltd | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 3 months 14 days to 1 years 9 months 20 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is is engaged in the business of data processing, software development and computer consultancy. The applicant received foreign inward remittance from (i) M/s Rosaleen Geradline Thomas, Ireland, (ii) Mr. Brian Patrick Murphy, Ireland, (iii) Micheal Augustustine Hinchion, Ireland and (iv) Patrick Joseph Fitzgerald, Ireland towards subscription to equity shares and reported the same to the Reserve Bank afer the expiry of 30 days from the date of receipt of consideration. Further, the applicant made allotment of shares from the receipt of foreign inward remittances and filed form FC-GPRs to RBI beyond the period of 30 days from the date of issue of shares to person resident outside India. | 12,312,000 | 49,075 | |
| 100 | Jugal Kishore Jewellers Private Limited | Jul/2016 | ODI | FEMA 120/RB-2004 | ODI- Non submission of Part-1 of form ODI regulating overseas investment by a person resident outside India | 3 months | Non submission of ODI FormI within the stipulated period of 1 year | The Applicant, a resident company in India engaged in inter alia, making and exporting jewelry had set up the overseas WOS in UK by remitting GBP 1 (INR 82.96 ) on September 17, 2008. The WOS was allotted the UIN MAWAZ20090747. The applicant remitted the funds for acquiring the shares on September 17, 2008 but the ODI Form I was subsequently filed only on December 11, 2009 i.e. after a lapse of more than one year in contravention of Regulation 6(2) (vi) of Notification No. FEMA 120/2004-RB-2004 dated July 7, 2004 as amended from time to time. | 8,296 | 200 | |
| 101 | My Mobile Payments Ltd. | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 3 months 19 days to 7 months and 3 days | Delay in submission of form FCFCGPRS beyond the stipulated period of time | The applicant company is engaged in the business to establish, maintain, develop, conduct, procure, buy, sell, import, export, trade or otherwise deal in or to act as service providers of every kind in the field of engineering, technology, technical know how, mechanical, electrical, electronics, civil, industrial, commercial, statistical, financial, software and software solutions of all kinds, system integration, data processing, direct to home services, entertainment media, cable television services, interactive television services, Cellular Mobile Telephone Services (CMTS), National Long Distance Operator Services (NLDO), Fixed Telephone Services (FTS), Cable Service Provider, Basic Telephone Services (BTS) with or without the use of Wireless Local Loop (WLL) Technology, VSAT Services, internet, internet connectivity, internet telephoning, interconnect and intraface services applications like tele banking, tele medicine, tele education, tele trading, e commerce, mobile payments e governance, e business and system designs, kiosks, management information systems and other cost effective solutions. The applicant received foreign inward remittance from M/s Calpian Inc., USA towards equity / preference share capital. Further, the applicant made allotment of shares from the receipt of foreign inward remittances and filed form FC-GPRs to RBI beyond the period of 30 days from the date of issue of shares to person resident outside India. | 293,581,500 | 110,000 | |
| 102 | R. Srinivasan | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- delay in filing of form FC-TRS beyond the stipulated time period | 3 years 3 months 10 days | Delay in submission of form FCTRS beyond the stipulated periof of time | The applicant, an individual by name Shri.R.Srinivasan was allotted 16,778 equity shares and 235 compulsorily convertible preference shares in the company M/s.PS Electricals Pvt Ltd., a private limited company incorporated under the Companies Act, 1956 on July 15, 1982 with CIN U27209TN1982PTC009485. The applicant had transferred 8389 equity shares and 117 compulsorily convertible preference shares to a Non Resident company, M/s.Al Nasser Industrial Enterprises LLC, Abu Dhabi, UAE. The applicant had received two inward remittances of ₹ 1,99,34,715/- and ₹ 44,187/- on 19.01.2011 and 20.01.2011 respectively from the non-resident buyer and transferred 8389 equity shares and 117 compulsorily convertible preference shares of M/s.PS Electricals Pvt Ltd to the Non Resident Buyer on 20.01.2011. The applicant reported the transfer in form FC-TRS to the Authorised Dealer bankbeyond the period of 60 days from the date of receipt of consideration. | 19,977,520 | 176,500 | |
| 103 | S. Ramesh | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- delay in filing of form FC-TRS beyond the stipulated time period | 3 years 3 months 10 days | Delay in submission of form FCTRS beyond the stipulated periof of time | The applicant, an individual by name Shri.S.Ramesh was allotted 16,580 equity shares and 30 compulsorily convertible preference shares in the company M/s.PS Electricals Pvt Ltd., a private limited company incorporated under the Companies Act, 1956 on July 15, 1982 with CIN U27209TN1982PTC009485. The applicant had transferred 8290 equity shares and 15 compulsorily convertible preference shares to a Non Resident company, M/s.Al Nasser Industrial Enterprises LLC, Abu Dhabi, UAE. The applicant had received two inward remittances of ₹ 1,96,89,297/- and ₹ 43,734/- on 19.01.2011 and 20.01.2011 respectively from the non-resident buyer and transferred 8290 equity shares and 15 compulsorily convertible preference shares of M/s PS Electricals Pvt Ltd to the Non Resident Buyer on 20.01.2011. The applicant reported the transfer in form FC-TRS to the Authorised Dealer bank beyond 60 days from the date of receipt of the amount of consideration. | 19,731,700 | 176,500 | |
| 104 | Saharanpur Testing Instruments Private Limited | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 2 months 9 days to 5 months 11 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The company is engaged in business of manufacturing, designing and fabrication of all kinds of paper machinery, equipment, paper and pulp testing equipment. The applicant company had received two inward remittances amounting to Rs. 42,33,730.00 from 29.10.2012 to 31.01.2013 which were reported to RBI beyond 30 days from the date of receipt of remittance. Further, the applicant made allotment of shares from the receipt of foreign inward remittances and filed form FC-GPRs to RBI beyond the period of 30 days from the date of issue of shares to person resident outside India. | 4,233,730 | 64,910 | |
| 105 | Saharanpur Testing Instruments Private Limited | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 1 years 6 months and 5 days to 2 years 10 months and 10 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The company is engaged in business of manufacturing, designing and fabrication of all kinds of paper machinery, equipment, paper and pulp testing equipment. The applicant company had received two inward remittances amounting to Rs. 42,33,730.00 from 29.10.2012 to 31.01.2013 which were reported to RBI beyond 30 days from the date of receipt of remittance. Further, the applicant made allotment of shares from the receipt of foreign inward remittances and filed form FC-GPRs to RBI beyond the period of 30 days from the date of issue of shares to person resident outside India. | 14,216,430 | 64,910 | |
| 106 | Scott Sports India Pvt. Ltd. | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 6 m 23 days to 5 years 8 months and 12 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is engaged in in the business of manufacturing, designing, fabricating, assembling, repairing, importing, exporting and otherwise dealing in all kinds and makes of professional bikes, cycles and other sports, health and fitness equipments, lifestyle products and accessories and to own or to obtain licenses and franchisees of reputed brands of these product categories and to promote those appropriately. The applicant received foreign inward remittance from Mr. B.M. Els, South Africa, Mr. Peter Miller, South Africa and M/s PMBE Trading Pty. Ltd., South Africa towards equity / preference share capital and reported the same to the Reserve Bank beyond the stipulated time of 30 days. Further, the applicant made allotment of shares from the receipt of foreign inward remittances and filed form FC-GPRs to RBI beyond the period of 30 days from the date of issue of shares to person resident outside India. | 10,853,394 | 79,500 | |
| 107 | Scott Sports India Pvt. Ltd. | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 2 years | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is engaged in in the business of manufacturing, designing, fabricating, assembling, repairing, importing, exporting and otherwise dealing in all kinds and makes of professional bikes, cycles and other sports, health and fitness equipments, lifestyle products and accessories and to own or to obtain licenses and franchisees of reputed brands of these product categories and to promote those appropriately. The applicant received foreign inward remittance from Mr. B.M. Els, South Africa, Mr. Peter Miller, South Africa and M/s PMBE Trading Pty. Ltd., South Africa towards equity / preference share capital and reported the same to the Reserve Bank beyond the stipulated time of 30 days. Further, the applicant made allotment of shares from the receipt of foreign inward remittances and filed form FC-GPRs to RBI beyond the period of 30 days from the date of issue of shares to person resident outside India. | 10,850,000 | 79,500 | |
| 108 | Sheng Long Bio-Tech (India) Pvt Ltd | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 21 days to 1 months and 5 days | Delay in submission of Form FCGPRs to RBI beyond the stipulated period from the date of issue of shares to person resident outside India | The applicannt company is engaged in in the business of operation of fish hatcheries. The applicant received foreign inward remittance from M/s Lanking Pte Ltd, Singapore and M/s Lanking Nemo (SG) Pte Ltd., Singapore towards subscription to equity shares.Against the ten inward remittances received, the company allotted equity shares. Out of total alloted equity shares, shares amoounted to Rs. 26,07,43,600 were not reported to RBI by way of filing FC-GPRs within the period of 30 days from the date of issue of shares to person resident outside India. | 260,743,600 | 22,170 | |
| 109 | UK India Business Council India Private Limited | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 11 days to 1 months 13 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity | The applicant company is engaged into management consultancy and business promotion activities between India and the United Kingdom.The applicant company had received a total of 33 foreign inward remittances, out of which, 4 foreign inward remittances amounting to Rs. 2,67,07,541.55 (as detailed hereunder) were reported beyond the prescribed period of 30 days in contravention of Paragraph 9(1)(A) of Schedule 1 to Notification No. FEMA 20/2000-RB dated May 3, 2000. | 26,707,541 | 20,450 | |
| 110 | UW Media Ventures Pvt. Ltd. | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 1 years 6 months 1 days to 2 years and 11 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is engaged in the Online media services including web design and development, web application development, online marketing and advertisement including but not restricted to search engine optimization, search engine marketing, social media marketing, affiliate marketing management, online media planning and buying and other online marketing services and including the design, development and management of email service software etc. and to provide all consultancy and advisory services in loyalty programmes, advertisements and e-commerce. The applicant received foreign inward remittance from Mr. Ashish Malhotra, USA towards equity / preference share capital and reported the same to the Reserve Bank beyond the period of 30 days. Further the allotment of shares were done out of the foreign inward remittances but the company failed to report form FC-GPRs to RBI within 30 days from the date of issue of shares to persons resident outside India. | 10,000,000 | 170,000 | |
| 111 | UW Media Ventures Pvt. Ltd. | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 11 months and 13 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is engaged in the Online media services including web design and development, web application development, online marketing and advertisement including but not restricted to search engine optimization, search engine marketing, social media marketing, affiliate marketing management, online media planning and buying and other online marketing services and including the design, development and management of email service software etc. and to provide all consultancy and advisory services in loyalty programmes, advertisements and e-commerce. The applicant received foreign inward remittance from Mr. Ashish Malhotra, USA towards equity / preference share capital and reported the same to the Reserve Bank beyond the period of 30 days. Further the allotment of shares were done out of the foreign inward remittances but the company failed to report form FC-GPRs to RBI within 30 days from the date of issue of shares to persons resident outside India. | 10,000,000 | 170,000 | |
| 112 | Veena Enterprises Limited | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 1 years 3 months 8 days to 2 years 9 months 8 days | (i) Delay in submission of Form FCGPRs to RBI beyond the stipulated period from the date of issue of shares to person resident outside India, (ii) Delay in reporting of allotment of shares in prescribed period. | The applicant company was incorporated for the purpose of manufacturing knitted fabrics, garments, trading of cotton and cotton yarns and also for promoting spinning mill for manufacturing yarn. The company allotted equity shares on 2 occasions amounting to Rs.4,78,13,990.00 on April 01, 2009 and October 01, 2010 to the foreign investor and reported them in form FC-GPR beyond the period of 30 days from the date of issue of shares to person resident outside India. the company had received 3 remittances amounting to Rs. 4,77,60,006.00 during the period 25.01.2007 to 06.09.2007and had issued shares against these remittances beyond 180 days of the receipt of the inward remittances or date of debit to the NRE/FCNR account as the case may be. | 47,813,990 | 412,336 | |
| 113 | Veena Enterprises Limited | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of allotment of shares in prescribed period | 1 years 4 months and 4 days to 2 years 6 months and 25 days | (i) Delay in submission of Form FCGPRs to RBI beyond the stipulated period from the date of issue of shares to person resident outside India, (ii) Delay in reporting of allotment of shares in prescribed period. | The applicant company was incorporated for the purpose of manufacturing knitted fabrics, garments, trading of cotton and cotton yarns and also for promoting spinning mill for manufacturing yarn. The company allotted equity shares on 2 occasions amounting to Rs.4,78,13,990.00 on April 01, 2009 and October 01, 2010 to the foreign investor and reported them in form FC-GPR beyond the period of 30 days from the date of issue of shares to person resident outside India. the company had received 3 remittances amounting to Rs. 4,77,60,006.00 during the period 25.01.2007 to 06.09.2007and had issued shares against these remittances beyond 180 days of the receipt of the inward remittances or date of debit to the NRE/FCNR account as the case may be. | 47,760,006 | 412,336 | |
| 114 | Weber Hydraulic India Pvt. Ltd. | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 8 days to 2 months and 16 days | (i) Delay in reporting receipt of foreign inward remittances towards subscription to equity(ii) delay in submission of form FCGPR for allotment of shares. | The applicant company was incorporated on July 12, 2010 and is engaged in the business of sourcing, manufacturing, buying, selling, reselling, exporting, importing, trading distributing marketing, repairing, processing, painting, moulding machining, etc.The applicant received foreign inward remittance from M/s Weber Hydraulik GmbH, Germany, towards equity / preference share capital. Out of the totak funds received part funds were reported to the Reserve Banklater than 30 days from the date of receipt of the amount of consideration. Further the allotment of shares were done out of the foreign inward remittances but the company failed to report form FC-GPRs to RBI within 30 days from the date of issue of shares to persons resident outside India. | 132,575,850 | 220,000 | |
| 115 | Diya Exports | Jul/2016 | ECB | FEMA 3/2000-RB | B/L- Delay in repayment of foreign currency credit. | 1 years | Non repayment of foreign currency credit, extended by the overseas supplier of goods, for a period exceeding six months | The applicant is a partnership firm incorporated vide Indenture of Partnership dated April 1, 2013. Post retirement of one of the partners, it was re-incorporated as a partnership firm between the remaining three partners, on July 31, 2014. The firm is engaged in the business of manufacture of diamonds and jewellery, and import and export of diamonds, bullions, precious stone, pearls and jewellery of all kinds. The applicant had imported rough diamonds from M/s Arkot Diamonds BVBA, Belgium, on credit of Rs.1,50,30,400 for period beyond 180 days | 15,030,400 | 125,201 | |
| 116 | Weber Hydraulic India Pvt. Ltd. | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 10 days to 1 years and 4 months | (i) Delay in reporting receipt of foreign inward remittances towards subscription to equity(ii) delay in submission of form FCGPR for allotment of shares. | The applicant company was incorporated on July 12, 2010 and is engaged in the business of sourcing, manufacturing, buying, selling, reselling, exporting, importing, trading distributing marketing, repairing, processing, painting, moulding machining, etc.The applicant received foreign inward remittance from M/s Weber Hydraulik GmbH, Germany, towards equity / preference share capital. Out of the totak funds received part funds were reported to the Reserve Banklater than 30 days from the date of receipt of the amount of consideration. Further the allotment of shares were done out of the foreign inward remittances but the company failed to report form FC-GPRs to RBI within 30 days from the date of issue of shares to persons resident outside India. | 345,223,695 | 220,000 | |
| 117 | AMC Diamonds India Private Limited | Jul/2016 | ECB | FEMA 3/2000-RB | B/L- Delay in repayment of foreign currency credit. | 1 years to 5 years | Non repayment of foreign currency credit, extended by the overseas supplier of goods, for a period exceeding six months | The Company is engaged in the business of diamond manufacturing and trading, including import and export thereof. The applicant had imported polished diamonds from various exporters, on credit. The applicant made repayment of foreign currency credit amounting to Rs.2,16,58,205 after the period of 180 days. | 271,658,205 | 1,717,802 | |
| 118 | WSA Equity and Financial Research Pvt. Ltd. | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 26 days to 7 months and 27 days | (i) Delay in reporting receipt of foreign inward remittances towards subscription to equity(ii) delay in submission of form FCGPR for allotment of shares. | The primary business of the company has been rendering services with respect to stock market research, financial research and to act as consultants. The applicant received funds towards share application money from two foreign investors viz. M/s Blue Sea Research & Investment, Seychelles and M/s JMA Marketing and Outsourcing Consultants Ltd., Seychelles. Out of of the funds received, part funds were reported to Bengaluru Regional Office of RBI beyond the period of 30 days. Further the allotment of shares were done out of the foreign inward remittances but the company failed to report form FC-GPRs to RBI within 30 days from the date of issue of shares to persons resident outside India. | 5,745,350 | 26,500 | |
| 119 | WSA Equity and Financial Research Pvt. Ltd. | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 1 months to 10 months 1 days | (i) Delay in reporting receipt of foreign inward remittances towards subscription to equity(ii) delay in submission of form FCGPR for allotment of shares. | The primary business of the company has been rendering services with respect to stock market research, financial research and to act as consultants. The applicant received funds towards share application money from two foreign investors viz. M/s Blue Sea Research & Investment, Seychelles and M/s JMA Marketing and Outsourcing Consultants Ltd., Seychelles. Out of of the funds received, part funds were reported to Bengaluru Regional Office of RBI beyond the period of 30 days. Further the allotment of shares were done out of the foreign inward remittances but the company failed to report form FC-GPRs to RBI within 30 days from the date of issue of shares to persons resident outside India. | 4,825,030 | 26,500 | |
| 120 | Dongjin Trading Private Limited | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 4 months 19 days to 1 years 1 months and 18 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares(ii) delay in submission of form FCGPR for allotment of shares.(iii) delay in allotment of shares beyond the prescribed period of 180 days. | The company is engaged in the business of wholesale trading. The applicant company had received four inward remittances amounting to Rs. 2,12,62,399.99 from 28.07.2010 to 09.12.2011 for issue of equity shares, The company allotted equity shares on two occasions amounting to Rs. 2,12,62,399.99 on 10.12.2009 and 05.02.2014 to the foreign investor and reported it in form FC-GPR. Further, The company received three remittances amounting to Rs. 2,11,62,400/- from December 1, 2011 to December 9, 2011 and allotted equity shares on 05.02.2014, without prior approval of Reserve Bank of India. | 21,262,399 | 197,500 | |
| 121 | Dongjin Trading Private Limited | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 11 months and 27 days to 1 years 4 months 15 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares(ii) delay in submission of form FCGPR for allotment of shares.(iii) delay in allotment of shares beyond the prescribed period of 180 days. | The company is engaged in the business of wholesale trading. The applicant company had received four inward remittances amounting to Rs. 2,12,62,399.99 from 28.07.2010 to 09.12.2011 for issue of equity shares, The company allotted equity shares on two occasions amounting to Rs. 2,12,62,399.99 on 10.12.2009 and 05.02.2014 to the foreign investor and reported it in form FC-GPR. Further, The company received three remittances amounting to Rs. 2,11,62,400/- from December 1, 2011 to December 9, 2011 and allotted equity shares on 05.02.2014, without prior approval of Reserve Bank of India. | 21,262,399 | 197,500 | |
| 122 | Dongjin Trading Private Limited | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of allotment of shares in prescribed period | 1 years 8 months | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares(ii) delay in submission of form FCGPR for allotment of shares.(iii) delay in allotment of shares beyond the prescribed period of 180 days. | The company is engaged in the business of wholesale trading. The applicant company had received four inward remittances amounting to Rs. 2,12,62,399.99 from 28.07.2010 to 09.12.2011 for issue of equity shares, The company allotted equity shares on two occasions amounting to Rs. 2,12,62,399.99 on 10.12.2009 and 05.02.2014 to the foreign investor and reported it in form FC-GPR. Further, The company received three remittances amounting to Rs. 2,11,62,400/- from December 1, 2011 to December 9, 2011 and allotted equity shares on 05.02.2014, without prior approval of Reserve Bank of India. | 21,162,400 | 197,500 | |
| 123 | Irene Healthcare Private Limited | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 19 days to 10 months 8 days | Delay in submission of form FCGPR beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India. | The company is engaged in healthcare services delivery business (operating and managing small hospitals in India).The company allotted equity shares on three occasions amounting to Rs.3,65,98,890.00 from 27.02.2015 to 28.09.2015 (as detailed under) to the foreign investor and reported it in form FC-GPR beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India. | 36,598,890 | 65,060 | |
| 124 | International Orthopaedic Rehabilitation and Prevention (India) Private Limited | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 1 months 25 days to 11 months and 21 days | Delay in submission of form FCGPR beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India. | The company is engaged in business of healthcare and running orthopedic rehabilitation healthcare centers in India. The company allotted equity shares on 18 occasions, out of which, on 2 occasions, equity shares amounting to Rs.4,95,90,080.00 issued from 16.11.2011 to 05.08.2012 were reported in form FC-GPR beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India. | 49,590,080 | 19,500 | |
| 125 | H & M Hennes & Mauritz Retail Private Limited | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in allotment of shares beyond the prescribed period | 1 years | Delay in allotment of shares after the stipulated period of 180 days from the date or receipt of foreign inward remittance. | The company is engaged in the business of clothing, home furnishing and fashion accessories etc.The company had received a foreign inward remittance amounting to Rs.25,00,000/- on May 13, 2014 but neither allotted shares nor refunded the amount within 180 days of receipt of remittance. The company had submitted the request seeking extension of time for allotment of shares for the above amount to the AD bank on November 13, 2014, after the stipulated period of 180 days. The request of the company was received by Reserve Bank of India from the AD bank on December 11, 2014. The company was granted permission to issue shares on October 6, 2015 and the shares were issued by the company on October 20, 2015. Whereas, in terms of Paragraph 8 of Schedule 1 to FEMA notification No 20/2000-RB, equity instruments should be issued within 180 days of the receipt of the inward remittance or date of debit to the NRE/FCNR (B) account, as the case may be. Provided further that the Reserve Bank may on an application made to it and for sufficient reasons permit an Indian Company to allot the shares /refund the amount of consideration received towards issue of security, if such amount of consideration is outstanding beyond a period of 180 days from the date of receipt. | 2,500,000 | 37,500 | |
| 126 | Iqor India Services Private Limited | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 9 years to 10 years | (i) Delay in reporting foreign inward remittances to the Reserve Bank of India (RBI) beyond the prescribed period; (ii) delay in reporting allotment of equity shares after receipt of the funds from the overseas entity beyond the prescribed period and (iii) delay in reporting to the RBI, in the prescribed form, the allotment of shares issued to a nonresident entity pursuant to an approved Scheme of Amalgamation | The name of the applicant was changed to iQor Services India Private Limited on February 06, 2009. The applicant is engaged in the business of providing consulting services related to Business Process Outsourcing (BPO) and establishing back office operations, management services and other administration services in India. The applicant received foreign inward remittances amounting to Rs.3,76,29,900 from iQor US Inc., USA in 16 tranches during 2005 and 2006, against which the applicant made single allotment of 9,90,000 shares to iQor US Inc., USA on December 31, 2006.beyond the stipulated period. Further, the applicant failed to report to RBI about the allotment of shares made out of the foriegn inward remittances. The applicant delayed in reporting of allotment of shares to non-resident promoters pursuant to Scheme of Amalgamation approved by the High Court of Delhi, amounting to Rs.30,99,750 with period of delay of eight months | 37,629,900 | 1,111,700 | |
| 127 | Iqor India Services Private Limited | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of allotment of shares in prescribed period | 8 years | (i) delay in reporting foreign inward remittances to the Reserve Bank of India (RBI) beyond the prescribed period; (ii) delay in reporting allotment of equity shares after receipt of the funds from the overseas entity beyond the prescribed period and (iii) delay in reporting to the RBI, in the prescribed form, the allotment of shares issued to a nonresident entity pursuant to an approved Scheme of Amalgamation | The name of the applicant was changed to iQor Services India Private Limited on February 06, 2009. The applicant is engaged in the business of providing consulting services related to Business Process Outsourcing (BPO) and establishing back office operations, management services and other administration services in India. The applicant received foreign inward remittances amounting to Rs.3,76,29,900 from iQor US Inc., USA in 16 tranches during 2005 and 2006, against which the applicant made single allotment of 9,90,000 shares to iQor US Inc., USA on December 31, 2006.beyond the stipulated period. Further, the applicant failed to report to RBI about the allotment of shares made out of the foriegn inward remittances. The applicant delayed in reporting of allotment of shares to non-resident promoters pursuant to Scheme of Amalgamation approved by the High Court of Delhi, amounting to Rs.30,99,750 with period of delay of eight months | 37,629,900 | 1,111,700 | |
| 128 | Iqor India Services Private Limited | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 8 months | (i) delay in reporting foreign inward remittances to the Reserve Bank of India (RBI) beyond the prescribed period; (ii) delay in reporting allotment of equity shares after receipt of the funds from the overseas entity beyond the prescribed period and (iii) delay in reporting to the RBI, in the prescribed form, the allotment of shares issued to a nonresident entity pursuant to an approved Scheme of Amalgamation | The name of the applicant was changed to iQor Services India Private Limited on February 06, 2009. The applicant is engaged in the business of providing consulting services related to Business Process Outsourcing (BPO) and establishing back office operations, management services and other administration services in India. The applicant received foreign inward remittances amounting to Rs.3,76,29,900 from iQor US Inc., USA in 16 tranches during 2005 and 2006, against which the applicant made single allotment of 9,90,000 shares to iQor US Inc., USA on December 31, 2006.beyond the stipulated period. Further, the applicant failed to report to RBI about the allotment of shares made out of the foriegn inward remittances. The applicant delayed in reporting of allotment of shares to non-resident promoters pursuant to Scheme of Amalgamation approved by the High Court of Delhi, amounting to Rs.30,99,750 with period of delay of eight months | 3,099,750 | 1,111,700 | |
| 129 | Biomerieux India Private Limited | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Failure in obtaining FIPB approval while making downstream investment by an Indian company to resident company | 3 years | (i) Downstream investment by an Indian company which is not owned and/or controlled by resident entities, without prior FIPB approval and (ii) delay in reporting the downstream investment beyond the stipulated time period | The applicant is engaged in the business of wholesale of in vitro diagnostic products, including reagents and automated systems for clinical and industrial diagnosis, used for diagnosis in the field of healthcare and treatment to registered healthcare institutions/practitioners and support. In July 2012, the applicant made a downstream investment, investing an amount of INR 7,50,00,000, thereby acquiring 6,00,000 shares comprising 60% shareholding in RAS Life sciences Private Limited, a resident company. The said investment was done without prior FIPB approval, thus contravening Regulation 14(6)(i) read with Regulation 14(5)(iii) of Notification No. FEMA 20/2000-RB, further read with Paragraph 25.2 of Annex B of Schedule I (as then applicable) of the same Notification. The abovementioned downstream investment was reported to the Secretariat for Industrial Assistance, DIPP on February 10, 2015 and to FIPB on February 11, 2015, with a delay beyond the stipulated time period of 30 days, thus contravening Regulation 14(6)(ii)(a) of Notification No. FEMA 20/2000-RB. | 75,000,000 | 639,200 | |
| 130 | Biomerieux India Private Limited | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting downstream investment | 3 years | (i) Downstream investment by an Indian company which is not owned and/or controlled by resident entities, without prior FIPB approval and (ii) delay in reporting the downstream investment beyond the stipulated time period | The applicant is engaged in the business of wholesale of in vitro diagnostic products, including reagents and automated systems for clinical and industrial diagnosis, used for diagnosis in the field of healthcare and treatment to registered healthcare institutions/practitioners and support. In July 2012, the applicant made a downstream investment, investing an amount of INR 7,50,00,000, thereby acquiring 6,00,000 shares comprising 60% shareholding in RAS Life sciences Private Limited, a resident company. The said investment was done without prior FIPB approval, thus contravening Regulation 14(6)(i) read with Regulation 14(5)(iii) of Notification No. FEMA 20/2000-RB, further read with Paragraph 25.2 of Annex B of Schedule I (as then applicable) of the same Notification. The abovementioned downstream investment was reported to the Secretariat for Industrial Assistance, DIPP on February 10, 2015 and to FIPB on February 11, 2015, with a delay beyond the stipulated time period of 30 days, thus contravening Regulation 14(6)(ii)(a) of Notification No. FEMA 20/2000-RB. | 75,000,000 | 639,200 | |
| 131 | Ashdene Investments Limited | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Non submission of copy of FIPB approval for transfer of shares to NR | 4 years and 6 months | The applicant failed to obtain FIPB approval for transfer of shares to NR | The applicant is a Non-resident company, with its registered office in Gibralter. It, along with five other non-resident sharehoders, comprise the non-resident shareholder group, of M/s Warren Tea Limited (WTL), a resident company incorporated on 31.05.1977. M/s WTL is engaged in the business of growing, harvesting, manufacturing and selling tea through its tea estates in the state of Assam. The applicant has 1181505 shares of M/s WTL which constitutes 9.89% of total shares. The shares held by the applicant, were originally issued to Warren Tea Holding Limited (WTHL), UK, and were acquired by the applicants on February 9, 2011, pursuant to a scheme of demerger. At the time of the said demerger, FDI in tea plantations was under the Government approval route, the transfer of shares thus requiring prior FIPB approval. The NR shareholders, including the applicant, vide their letters dated February 11, 2013, sought approval for transfer of their shareholding in WTL to resident shareholders. They were advised, vide RBI letter dated April 2, 2013, to submit a copy of FIPB approval, if any, for transfer of respective equity shares from Warren Tea Holding Limited to the NR shareholders in February, 2011. A reminder mail advising the same was sent on January 23, 2015, February 25, 2015 and March 27, 2015. The applicant applied for post-facto FIPB approval on April 23, 2015, and the said approval was granted on Augustust 14, 2015, subject to compounding. The abovementioned transfer of shares from WTHL to the applicant without permission of the Government on India, was in contravention of Regulation 9(1), read with Paragraph 3(b) of Schedule | 11,815,050 | 132,700 | |
| 132 | ISIS Enterprises Limited | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Non submission of copy of FIPB approval for transfer of shares to NR | 4 years and 6 months | The applicant failed to obtain FIPB approval for transfer of shares to NR | The applicant is a Non-resident company, with its registered office in Gibralter. It, along with five other non-resident sharehoders, comprise the non-resident shareholder group, of M/s Warren Tea Limited (WTL), a resident company incorporated on 31.05.1977. M/s WTL is engaged in the business of growing, harvesting, manufacturing and selling tea through its tea estates in the state of Assam. The applicant has 1102785 shares of M/s WTL which constitutes 9.23% of total shares. The shares held by the applicant, were originally issued to Warren Tea Holding Limited (WTHL), UK, and were acquired by the applicants on February 9, 2011, pursuant to a scheme of demerger. At the time of the said demerger, FDI in tea plantations was under the Government approval route, the transfer of shares thus requiring prior FIPB approval. The NR shareholders, including the applicant, vide their letters dated February 11, 2013, sought approval for transfer of their shareholding in WTL to resident shareholders. They were advised, vide RBI letter dated April 2, 2013, to submit a copy of FIPB approval, if any, for transfer of respective equity shares from Warren Tea Holding Limited to the NR shareholders in February, 2011. A reminder mail advising the same was sent on January 23, 2015, February 25, 2015 and March 27, 2015. The applicant applied for post-facto FIPB approval on April 23, 2015, and the said approval was granted on Augustust 14, 2015, subject to compounding. The abovementioned transfer of shares from WTHL to the applicant without permission of the Government on India, was in contravention of Regulation 9(1), read with Paragraph 3(b) of Schedule I | 11,027,850 | 127,200 | |
| 133 | Morgan Mckinley Services Pvt. Ltd. | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of remittances received from a resident outside India | 3 months 3 days to 11 months 14 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares and (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank. | The applicant company is is engaged in the business of data processing, software development and computer consultancy. The applicant received foreign inward remittance from (i) M/s Rosaleen Geradline Thomas, Ireland, (ii) Mr. Brian Patrick Murphy, Ireland, (iii) Micheal Augustustine Hinchion, Ireland and (iv) Patrick Joseph Fitzgerald, Ireland towards subscription to equity shares and reported the same to the Reserve Bank after the stipulated period of 30 days. Further the company alloted share after the reciept of funds but failed to submit to Reserve Bank a report in Form FC-GPRs beyond the stipulated period of 30 days from the date of issue of shares to person resident outside India. | 5,317,075 | 49,075 | |
| 134 | Morgan Mckinley Services Pvt. Ltd. | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 3 months 14 days to 1 years 9 months | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares and (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank. | The applicant company is is engaged in the business of data processing, software development and computer consultancy. The applicant received foreign inward remittance from (i) M/s Rosaleen Geradline Thomas, Ireland, (ii) Mr. Brian Patrick Murphy, Ireland, (iii) Micheal Augustustine Hinchion, Ireland and (iv) Patrick Joseph Fitzgerald, Ireland towards subscription to equity shares and reported the same to the Reserve Bank after the stipulated period of 30 days. Further the company alloted share after the reciept of funds but failed to submit to Reserve Bank a report in Form FC-GPRs beyond the stipulated period of 30 days from the date of issue of shares to person resident outside India. | 12,312,000 | 49,075 | |
| 135 | Dicronite India Pvt. Ltd. | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- delay in in submission of Form FC-GPR on allotment of shares with Reserve Bank | 3 days to 1 years | (i)delay in submission of Form FCGPR on allotment of shares with Reserve Bank, and (ii) allotment of shares to the nonresident investor prior to the receipt of inward remittance | The applicant company was incorporated on December 13, 2013 under the provisions of the Companies Act, 1956 (Registration No.U74999TN2013PTC094158) and is engaged in Business of machining, treatment and coating of metals. The applicant received two foreign inward remittances from M/s.SAT International LLC, USA towards subscription to equity shares.Against the two inward remittances, the company allotted equity shares and filed FC-GPRs with a delay beyond 30 days from the date of issue of shares to person resident outside India. The company had allotted shares to the non-resident investor prior to the receipt of inward remittance. | 1,551,120 | 20,800 | |
| 136 | Dicronite India Pvt. Ltd. | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Allotment of shares to NRI prior to the receipt of remittance | 5 months and 6 days | (i)delay in submission of Form FCGPR on allotment of shares with Reserve Bank, and (ii) allotment of shares to the nonresident investor prior to the receipt of inward remittance | The applicant company was incorporated on December 13, 2013 under the provisions of the Companies Act, 1956 (Registration No.U74999TN2013PTC094158) and is engaged in Business of machining, treatment and coating of metals. The applicant received two foreign inward remittances from M/s.SAT International LLC, USA towards subscription to equity shares.Against the two inward remittances, the company allotted equity shares and filed FC-GPRs with a delay beyond 30 days from the date of issue of shares to person resident outside India. The company had allotted shares to the non-resident investor prior to the receipt of inward remittance. | 90,000 | 20,800 | |
| 137 | Sheng Long Biotech India Pvt. Ltd. | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- delay in in submission of Form FC-GPR on allotment of shares with Reserve Bank | 21 days to 1 months | Delay in submission of Form FCGPR on allotment of shares with Reserve Bank beyond the period of 30 days. | The applicant company was incorporated on December 30, 2014 under the provisions of the Companies Act, 1956 (Registration No: U05004TN2014PTC098651) and is engaged in the business of operation of fish hatcheries. The applicant received foreign inward remittance from M/s Lanking Pte Ltd, Singapore and M/s Lanking Nemo (SG) Pte Ltd., Singapore towards subscription to equity shares.Out of the remittance the allotment of share was made and there was delay in reporting Form FC-GPR | 260,743,600 | 22,170 | |
| 138 | Spire Advisory Services India Pvt. Ltd. | Jul/2016 | FDI | FEMA 20/2000-RB | Violation of limit of minimum capitalisationof $10 million, prescribed for WOS | 10 years | Noncompliance of the minimum capitalization norms applicable to a Wholly Owned Subsidiary (WOS) | The applicant was incorporated as Amsri Spire Realty Private Limited on March 8, 2006 under the Companies Act, 1956 (CIN: U45200AP2006PTC49438, now changed to U45200TG2006PTC49438), with the objective to undertake construction and township development projects. The applicant company changed its name to Spire Advisory Services India Private Limited vide fresh certificate of incorporation issued on May 18, 2010, with the objective to provide advisory services. The FIPB, vide its letter dated 18.11.2015, approved the applicant’s proposal for categorization of its business as a Joint Venture (JV), prior to which the applicant was categorized as a Wholly Owned Subsidiary (WOS) of M/s Spire Realty India Limited, Mauritius. | 221,608,837 | 1,712,066 | |
| 139 | Cremica Food Industries Limited | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Non submission of report to RBI within 30 days | 1 year | Nonsubmission of a report to the Reserve Bank within 30 days after the allotment of equity shares and nonfiling of APR before the approval of demerger | The applicant, Cremica Food Industries Limited (hereinafter referred to as CFIL) was formed by way of demerger of Mrs. Bector Food Specialities Limited (hereinafter referred to as MBFSL) pursuant to the order of the Hon’ble High Court of Punjab and Haryana dated July 4, 2014. Pursuant to the order, the company allotted 5726760 equity shares (of a face value of Rs.10/- each) to the shareholders of MBFSL including 869772 equity shares to M/s India Excellence Business Fund I, Mauritius on November 27, 2014. The transaction was, however, reported to Reserve Bank of India (RBI) in form FCGPR only on September 18, 2015. | 8,697,720 | 17,000 | |
| 140 | Aon Consulting Private Limited | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 8 months | (i) Delay in issue of equity shares beyond the stipulated time period (ii) delay in filing of form FCGPR beyond the stipulated time period (iii) delay in refund of excess share application money beyond the stipulated time period and (iv) delay in filing of form FCTRS beyond the stipulated time period | The applicant is wholly owned by Aon Mauritius Limited, a non-resident company, and is engaged in the business of providing consultancy services.. On 26.08.2008, M/s Aon Mauritius Holding remitted Rs. 1,09,37,500/- for issue of 9,90,000 fresh equity shares and acquisition of 10,000 existing shares from resident promoter Directors at the rate of Rs. 10/-each. The reporting for the above remittance was done with delay and the UIN was allotted on 9.12.2010, there by contravening Para 9(1)(A) of Schedule 1 of Notification No. FEMA 20/2000-RB. The equity shares were issued with a delay beyond the stipulated time period, on 06.10.2009. Further, the refund of the excess share application money was done on 10.11.2015, also with a delay beyond the stipulated time period. These amount to the contravention of Paragraph 8 of Schedule 1 of Notification No. FEMA 20/2000-RB. The Form FCGPR was filed on 13.05.2011, with a delay beyond the stipulated time period, thus contravening Paragraph 9(1)(B) of Schedule 1 of Notification No. FEMA 20/2000-RB. The transfer of 10,000 shares from the applicant to Aon Mauritius Holdings was done on 03.03.2009. However, Form FC-TRS for the same was filed with a delay and given post-facto approval by RBI on 13.10.2015, thereby contravening Regulation 4 read with Para 10(i) of Schedule 1 of Notification No. FEMA 20/2000-RB. | 9,900,000 | 237,004 | |
| 141 | Aon Consulting Private Limited | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 2 years | (i) Delay in issue of equity shares beyond the stipulated time period (ii) delay in filing of form FCGPR beyond the stipulated time period (iii) delay in refund of excess share application money beyond the stipulated time period and (iv) delay in filing of form FCTRS beyond the stipulated time period | The applicant is wholly owned by Aon Mauritius Limited, a non-resident company, and is engaged in the business of providing consultancy services.. On 26.08.2008, M/s Aon Mauritius Holding remitted Rs. 1,09,37,500/- for issue of 9,90,000 fresh equity shares and acquisition of 10,000 existing shares from resident promoter Directors at the rate of Rs. 10/-each. The reporting for the above remittance was done with delay and the UIN was allotted on 9.12.2010, there by contravening Para 9(1)(A) of Schedule 1 of Notification No. FEMA 20/2000-RB. The equity shares were issued with a delay beyond the stipulated time period, on 06.10.2009. Further, the refund of the excess share application money was done on 10.11.2015, also with a delay beyond the stipulated time period. These amount to the contravention of Paragraph 8 of Schedule 1 of Notification No. FEMA 20/2000-RB. The Form FCGPR was filed on 13.05.2011, with a delay beyond the stipulated time period, thus contravening Paragraph 9(1)(B) of Schedule 1 of Notification No. FEMA 20/2000-RB. The transfer of 10,000 shares from the applicant to Aon Mauritius Holdings was done on 03.03.2009. However, Form FC-TRS for the same was filed with a delay and given post-facto approval by RBI on 13.10.2015, thereby contravening Regulation 4 read with Para 10(i) of Schedule 1 of Notification No. FEMA 20/2000-RB. | 9,900,000 | 237,004 | |
| 142 | Aon Consulting Private Limited | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in refund of excess share application | 7 years | (i) Delay in issue of equity shares beyond the stipulated time period (ii) delay in filing of form FCGPR beyond the stipulated time period (iii) delay in refund of excess share application money beyond the stipulated time period and (iv) delay in filing of form FCTRS beyond the stipulated time period | The applicant is wholly owned by Aon Mauritius Limited, a non-resident company, and is engaged in the business of providing consultancy services.. On 26.08.2008, M/s Aon Mauritius Holding remitted Rs. 1,09,37,500/- for issue of 9,90,000 fresh equity shares and acquisition of 10,000 existing shares from resident promoter Directors at the rate of Rs. 10/-each. The reporting for the above remittance was done with delay and the UIN was allotted on 9.12.2010, there by contravening Para 9(1)(A) of Schedule 1 of Notification No. FEMA 20/2000-RB. The equity shares were issued with a delay beyond the stipulated time period, on 06.10.2009. Further, the refund of the excess share application money was done on 10.11.2015, also with a delay beyond the stipulated time period. These amount to the contravention of Paragraph 8 of Schedule 1 of Notification No. FEMA 20/2000-RB. The Form FCGPR was filed on 13.05.2011, with a delay beyond the stipulated time period, thus contravening Paragraph 9(1)(B) of Schedule 1 of Notification No. FEMA 20/2000-RB. The transfer of 10,000 shares from the applicant to Aon Mauritius Holdings was done on 03.03.2009. However, Form FC-TRS for the same was filed with a delay and given post-facto approval by RBI on 13.10.2015, thereby contravening Regulation 4 read with Para 10(i) of Schedule 1 of Notification No. FEMA 20/2000-RB. | 937,500 | 237,004 | |
| 143 | Aon Consulting Private Limited | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- delay in filing of form FC-TRS beyond the stipulated time period | 6 years | (i) Delay in issue of equity shares beyond the stipulated time period (ii) delay in filing of form FCGPR beyond the stipulated time period (iii) delay in refund of excess share application money beyond the stipulated time period and (iv) delay in filing of form FCTRS beyond the stipulated time period | The applicant is wholly owned by Aon Mauritius Limited, a non-resident company, and is engaged in the business of providing consultancy services.. On 26.08.2008, M/s Aon Mauritius Holding remitted Rs. 1,09,37,500/- for issue of 9,90,000 fresh equity shares and acquisition of 10,000 existing shares from resident promoter Directors at the rate of Rs. 10/-each. The reporting for the above remittance was done with delay and the UIN was allotted on 9.12.2010, there by contravening Para 9(1)(A) of Schedule 1 of Notification No. FEMA 20/2000-RB. The equity shares were issued with a delay beyond the stipulated time period, on 06.10.2009. Further, the refund of the excess share application money was done on 10.11.2015, also with a delay beyond the stipulated time period. These amount to the contravention of Paragraph 8 of Schedule 1 of Notification No. FEMA 20/2000-RB. The Form FCGPR was filed on 13.05.2011, with a delay beyond the stipulated time period, thus contravening Paragraph 9(1)(B) of Schedule 1 of Notification No. FEMA 20/2000-RB. The transfer of 10,000 shares from the applicant to Aon Mauritius Holdings was done on 03.03.2009. However, Form FC-TRS for the same was filed with a delay and given post-facto approval by RBI on 13.10.2015, thereby contravening Regulation 4 read with Para 10(i) of Schedule 1 of Notification No. FEMA 20/2000-RB. | 100,000 | 237,004 | |
| 144 | Macmillan Publishers India Limited | Jul/2016 | FDI | FEMA 20/2000-RB | Transfer of non-repatriable shares of NRIs in company’s books without certified form FC- TRS. | 60 days | Transfer of nonrepatriable shares of NRIs in company’s books without certified form FCTRS. | HM Publishers Holdings Limited , a company incorporated under the laws of United Kingdom (‘UK’) currently holds 98.35% equity in MPIPL. MPIPL is a part of Springer Nature Group which specializes in businesses of scientific scholarly, professional and educational publishing and is head quartered in Germany. . Under the scheme of demerger on November 15, 2008 HM Publishers Holdings Ltd. (HMPHL), a NR company a shareholder of MIL, along with FIIs and other shareholders were allotted 11,418,608 equity shares in MPIL on 1:1 ratio. Subsequently, 10,83,786 equity shares were transferred to HMPHL on May 25, 2009 by the NR and FII shareholders pursuant to the option granted under the said Hon. Madras High Court’s order dated September 22, 2008. Of the shares so transferred 7100 shares were non-repatriable shares held by a NRI. The transfer of these non-repatriable shares from NRI to NR should not have been taken on record by MPIL without specific approval of RBI. When the applicant filed form FC-GPR on June 5, 2014 with FED, RBI Chennai with regard to another transaction, it was brought to their notice that the approval for abovementioned transaction was not obtained from RBI. | 489,900 | 16,500 | |
| 145 | Gireendra Baburao Kasmalkar | Jul/2016 | ODI | FEMA 120/RB-2004 | Overseas Direct Investment by a resident individual | 4 years and 1 months | (i) Overseas Direct Investment by resident individual which was in contravention of then Regulation(5) of FEMA | The applicant, a resident Indian, along with Mrs. Snigdha Kasmalkar, founded/ promoted the Verisoft Group, which formed two Indian companies, namely, Verisoft Infoservices Private Limited and India Infosystems Private Limited. An overseas entity, namely, SQS Software Quality Systems AG (SQS AG), a listed company in Germany, acquired both of the above companies. Post the acquisition, the names of the companies changed to SQS India Infoservices Private Limited and SQS India Infosystems Private Limited respectively. This acquisition was partly done through swap of shares, wherein the applicant subscribed to 1,36,523 shares of SQS AG in return of transfer of 32,250 shares of SQS India Infoservices Private Limited and SQS India Infosystems Private Limited to SQS AG | 20,917,508 | 196,423 | |
| 146 | Snigdha Kasmalkar | Jul/2016 | ODI | FEMA 120/RB-2004 | Overseas Direct Investment by a resident individual | 4 years and 1 months | (i) Overseas Direct Investment by resident individual which was in contravention of then Regulation(5) of FEMA | The applicant, a resident Indian, along with Mr. Gireendra Kasmalkar, founded/ promoted the Verisoft Group, which formed two Indian companies, namely, Verisoft Infoservices Private Limited and India Infosystems Private Limited. An overseas entity, namely, SQS Software Quality Systems AG (SQS AG), a listed company in Germany, acquired both of the above companies. Post the acquisition, the names of the companies changed to SQS India Infoservices Private Limited and SQS India Infosystems Private Limited respectively. This acquisition was partly done through swap of shares, wherein the applicant subscribed to 67,242 shares of SQS AG in return of transfer of 12,750 shares of SQS India Infoservices Private Limited and SQS India Infosystems Private Limited to SQS AG | 10,302,550 | 122,118 | |
| 147 | Geojit BNP Paribas Financial Services Limited | Jul/2016 | ODI | FEMA 120/RB-2004 | FDI-Non reporting of investment | 2 years | (i) Delay in reporting of investment in overseas entity and delay in obtaining UIN. (ii) Delay in submission of APR based on audited accounts of the JV/WOS for the preceeding year in respect of overseas entity. | The applicant is engaged in the securities brokerage and financial services business. The applicant made direct investment of KWD 1,50,000 (Rs.2,67,03,000/-) on October 12, 2011 towards share capital in its joint venture, BBK Geojit Securities Co. K.S.C.C in Kuwait. The applicant did not report the above investment within the prescribed time period of 30 days and there was delay in obtaining UIN in contravention of Regulation 6(2)(vi) of Notification No. FEMA 120/2004-RB dated July 7, 2004. The applicant reported the investment to Reserve Bank of India (RBI) in Form ODI on April 15, 2014. Further, the applicant also did not submit to RBI the Annual Performance Reports (APRs) in respect of the overseas entity within the prescribed period. APRs for the years 2013 & 2014 were taken on record by the RBI on January 14, 2016. | 26,703,000 | 240,000 | |
| 148 | Healthcare Global Enterprises Limited (I) | Jul/2016 | ECB | FEMA 3/2000-RB | ECB-Not an eligible borrower | 4 years to 8 years | (i) Applicant obtained supplier's credit exceeding permissible period and hence, was treated as ECB (ii) the applicant was not an eligible borrower; (iii) allincost ceiling in respect of the loan was breached and (iv) draw down of ECB took place without obtaining Loan Registration Number (LRN) from the Reserve Bank of India | The applicant is a public limited company and is engaged in the business of providing specialty healthcare services in India in the areas of cancer and fertility. The applicant entered into certain agreements with offshore suppliers of medical equipment for import of capital goods on various dates from June 28, 2007 to July 11, 2011. The supply contracts were structured in such a way that part of the payment to the suppliers of the equipment was to be made on deferred basis, thereby qualifying as suppliers’ credit in terms of extant ECB guidelines. The applicant did not comply with certain conditions as applicable to external commercial borrowings prior to availing each loan. Whereas, the applicant was engaged in the hospital sector and was, thus, not an eligible borrower under the Scheme. | 234,485,123 | 1,769,000 | |
| 149 | Dengensha India Pvt. Ltd. | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 17 days to 19 days | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank. | The applicant company was incorporated on May 14, 2015 under the provisions of the Companies Act, 1956 (Registration No: U74900TN2015FTC100508) and is engaged in the business of manufacture of other electrical equipment. The applicant received foreign inward remittance from M/s Dengensha Manufacturing Co. Ltd., Japan and M/s Dengen Service Co Ltd, Japan towards subscription to equity shares and reported the same to the Reserve Bank with a delay of stipulated period of time. Further, the applicant alloted shares and filed FC-GPRs beyond the period of 30 days | 26,000,000 | 28,640 | |
| 150 | Dengensha India Pvt. Ltd. | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of Form FC-GPR | 23 days | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank. | The applicant company was incorporated on May 14, 2015 under the provisions of the Companies Act, 1956 (Registration No: U74900TN2015FTC100508) and is engaged in the business of manufacture of other electrical equipment. The applicant received foreign inward remittance from M/s Dengensha Manufacturing Co. Ltd., Japan and M/s Dengen Service Co Ltd, Japan towards subscription to equity shares and reported the same to the Reserve Bank with a delay of stipulated period of time. Further, the applicant alloted shares and filed FC-GPRs beyond the period of 30 days | 26,000,000 | 28,640 | |
| 151 | Consleague Consulting Pvt. Ltd. | Jul/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of Form FC-GPR | 7 m 20 days to 14 m 24 days | (i) Non submission of form FCGPR within the stipulated period of 30 days after issue of shares to the person resident outside India | The applicant received foreign inward remittances towards subscription to equity shares amounted to Rs. 73,79,165 and reported to Kotak Bank within 30 days from the date of receipt of consideration. The applicant alloted equity shares of Rs. 10 per share for Rs. 73,73,565.60 and filled all the forms FC-GPR beyond the period of 30 dyas from the date of issue of shares. The excess amount of Rs 5643 against allotment of shares for two foreign inward remittances of amount Rs 34,75,195 was allowed to be refunded to overseas investor. | 3,903,970 | 13,125 | |
| 152 | Aurionpro Solutions Limited (2) | Jul/2016 | ODI | FEMA 120/RB-2004 | ODI- Non Compliance of Provision | 1 years to 7 years | (i) Routing a remittance through an Authorized Dealer that was not the designated Authorized Dealer for the overseas entity (ii) Delay in filing Form ODI and undertaking ODI transactions without the allotment of UIN (Unique Identification Number) (iii) Nonsubmission of Annual Performance Reports (APR) within the stipulated time period (iv) Delay in reporting of disinvestment | The applicant is engaged in the business of providing technology products and solutions in corporate banking, treasury, fraud prevention and risk management, internet banking etc. The applicant company made overseas direct investment amounting to Rs. 2,35,113,021. The form ODI were filed beyond the prescribed period. The Annual Performance Reports (APRs) for the years 2007-09 were submitted with a delay beyond the stipulated time period, thus contravening Regulation 15 (iii) of Notification No. FEMA 120/2004-RB.Further, the disinvestment was reported with a delay beyond the stipulated time period. However, since there was no inflow of funds on account of merger, a lenient view is being taken and this contravention is not being considered for the imposition of the compounding amount | 235,113,021 | 1,500,189 | |
| 153 | Aurionpro Solutions Limited | Jul/2016 | ODI | FEMA 120/RB-2004 | ODI- Non Compliance of Provision | 1 years to 7 years | (i) Delay in filing Form ODI and undertaking ODI transactions without the allotment of UIN (Unique Identification Number) (ii) Nonsubmission of Annual Performance Reports (APR) within the stipulated time period (iii) Delay in reporting of disinvestment. | The applicant is engaged in the business of providing technology products and solutions in corporate banking, treasury, fraud prevention and risk management, internet banking etc. The applicant company made overseas direct investment amounting to Rs. 8,25,93,680. The form ODI were filed beyond the prescribed period. The Annual Performance Reports (APRs) for the years 2007-09 were submitted with a delay beyond the stipulated time period, thus contravening Regulation 15 (iii) of Notification No. FEMA 120/2004-RB.Further, the disinvestment was reported with a delay beyond the stipulated time period. However, since there was no inflow of funds on account of merger, a lenient view is being taken and this contravention is not being considered for the imposition of the compounding amount. | 82,593,680 | 492,968 | |
| 154 | Ampere Vehicles Private Limited | Aug/2016 | ECB | FEMA 3/2000-RB | B/L- Availment of ECB from non recognised lender | 3 to 7 years | (i) Availing ECB from a nonrecognized lender (ii) utilization of ECB proceeds towards working capital which was not a permissible end use as per extant ECB guidelines, as then applicable; (ii) drawdown of External Commercial Borrowing (ECB)before obtaining Loan Registration Number (LRN) from the Reserve Bank of India (RBI); and (iii) Delay in meeting the reporting requirements. | The applicant is engaged in the business of research and development, design, manufacture and sale of electric battery operated vehicles and spares in the Indian market. The applicant is a subsidiary of Ampere Vehicles Pte. Ltd., Singapore, which holds 93.77% stake in the applicant company. The applicant obtained ECB of USD 14, 06,595/- (INR 9, 22, 72,630/-), from its foreign equity holder (FEH), Ampere Vehicles Pte. Ltd., Singapore for purchase of raw materials for its business in India, vide a loan agreement dated May 08, 2013 (the drawdown of the loan was effected before the date of the loan agreement). The FEH held 93.77% stake in the applicant company at the time of the loan agreement. However, the stake holding of the foreign entity was not reported and hence, not taken on record by RBI as on the dates of drawdown of the loan. The draw-down of the loan amount was done in 69 unequal installments. The entire loan amount of Rs. 9, 22, 72,630/- was utilized for working capital purposes, which is not a permissible end use as per extant ECB guidelines. Further, no Loan Registration Number (LRN) was obtained from RBI by the applicant before drawdown of the ECB instalments. There was also a delay in meeting the reporting requirements | 92,272,630 | 714,679 | |
| 155 | Ampere Vehicles Private Limited | Aug/2016 | ECB | FEMA 3/2000-RB | B/L- Misutilisation of ECB | 3 to 7 years | (i) Availing ECB from a nonrecognized lender (ii) utilization of ECB proceeds towards working capital which was not a permissible end use as per extant ECB guidelines, as then applicable; (iii) drawdown of External Commercial Borrowing (ECB)before obtaining Loan Registration Number (LRN) from the Reserve Bank of India (RBI); and delay in meeting the reporting requirements. | The applicant is engaged in the business of research and development, design, manufacture and sale of electric battery operated vehicles and spares in the Indian market. The applicant is a subsidiary of Ampere Vehicles Pte. Ltd., Singapore, which holds 93.77% stake in the applicant company. The applicant obtained ECB of USD 14, 06,595/- (INR 9, 22, 72,630/-), from its foreign equity holder (FEH), Ampere Vehicles Pte. Ltd., Singapore for purchase of raw materials for its business in India, vide a loan agreement dated May 08, 2013 (the drawdown of the loan was effected before the date of the loan agreement). The FEH held 93.77% stake in the applicant company at the time of the loan agreement. However, the stake holding of the foreign entity was not reported and hence, not taken on record by RBI as on the dates of drawdown of the loan. The draw-down of the loan amount was done in 69 unequal installments. The entire loan amount of Rs. 9, 22, 72,630/- was utilized for working capital purposes, which is not a permissible end use as per extant ECB guidelines. Further, no Loan Registration Number (LRN) was obtained from RBI by the applicant before drawdown of the ECB instalments. There was also a delay in meeting the reporting requirements | 92,272,630 | 714,679 | |
| 156 | Ampere Vehicles Private Limited | Aug/2016 | ECB | FEMA 3/2000-RB | B/L- Failure in obtaining LRN from RBI before drawdown of ECB | 3 to 7 years | (i) Availing ECB from a nonrecognized lender (ii) utilization of ECB proceeds towards working capital which was not a permissible end use as per extant ECB guidelines, as then applicable; (iii) drawdown of External Commercial Borrowing (ECB)before obtaining Loan Registration Number (LRN) from the Reserve Bank of India (RBI); and delay in meeting the reporting requirements. | The applicant is engaged in the business of research and development, design, manufacture and sale of electric battery operated vehicles and spares in the Indian market. The applicant is a subsidiary of Ampere Vehicles Pte. Ltd., Singapore, which holds 93.77% stake in the applicant company. The applicant obtained ECB of USD 14, 06,595/- (INR 9, 22, 72,630/-), from its foreign equity holder (FEH), Ampere Vehicles Pte. Ltd., Singapore for purchase of raw materials for its business in India, vide a loan agreement dated May 08, 2013 (the drawdown of the loan was effected before the date of the loan agreement). The FEH held 93.77% stake in the applicant company at the time of the loan agreement. However, the stake holding of the foreign entity was not reported and hence, not taken on record by RBI as on the dates of drawdown of the loan. The draw-down of the loan amount was done in 69 unequal installments. The entire loan amount of Rs. 9, 22, 72,630/- was utilized for working capital purposes, which is not a permissible end use as per extant ECB guidelines. Further, no Loan Registration Number (LRN) was obtained from RBI by the applicant before drawdown of the ECB instalments. There was also a delay in meeting the reporting requirements | 92,272,630 | 714,679 | |
| 157 | Ankit Gems Private Limited | Aug/2016 | ECB | FEMA 3/2000-RB | B/L- Non-Payment of foreign currency within stipulated period | 5 months to 9 months | (i) Violation of availment of foreign currency credit for a period exceeding six months in case of imported goods | The Company is engaged in the business of trading, manufacture, exports of diamonds, pearls, gold, silver, precious and semi-precious stones, bullion, jewellery of all kind. The applicant had imported rough diamonds worth Rs. 43,68,16,075. The applicant made repayment of foreign currency credit beyond the period of 180 days. | 436,816,075 | 2,234,080 | |
| 158 | Kandathil Mammen | Aug/2016 | ECB | FEMA 3/2000-RB | B/L- no person resident in India shall borrow or lend in foreign exchange from or to a person resident in or outside India | 1 years 7 months | Lending in foreign exchange to a person resident outside India | The applicant alongwith his brother with a view to pursue other business activities, namely consultancy and advisory services outside India, opened and closed various foreign currency accounts overseas, incorporated and liquidated wholly owned subsidiaries (WOS), formed and terminated trust overseas etc. Their earnings overseas were transferred to a foreign bank account with First Gulf Bank in Dubai, which was jointly opened by the applicant and his brother on July 6, 2013. This account was closed on August 10, 2014, and the accumulated balance in the account, USD 11,624,662, with a contribution of USD 5,813,325 by the applicant, was lent to Shri Percy Benhamin, a resident of Mauritius, as an interest free loan. | 357,853,784 | 2,018,196 | |
| 159 | Arun Mammen | Aug/2016 | ECB | FEMA 3/2000-RB | B/L- no person resident in India shall borrow or lend in foreign exchange from or to a person resident in or outside India | 1 years 7 months | Lending in foreign exchange to a person resident outside India | The applicant alongwith his brother with a view to pursue other business activities, namely consultancy and advisory services outside India, opened and closed various foreign currency accounts overseas, incorporated and liquidated wholly owned subsidiaries (WOS), formed and terminated trust overseas etc. Their earnings overseas were transferred to a foreign bank account with First Gulf Bank in Dubai, which was jointly opened by the applicant and his brother on July 6, 2013. This account was closed on August 10, 2014, and the accumulated balance in the account, USD 11,624,662, with a contribution of USD 5,813,325 by the applicant, was lent to Shri Percy Benhamin, a resident of Mauritius, as an interest free loan. | 357,853,784 | 2,018,196 | |
| 160 | Kandathil Mammen | Aug/2016 | Realisation, Repatriation & Surrender of Foreign Exchange | FEMA 9/2000-RB | R/R/S- Non-repatriation of accrued foreign exchange to a person resident outside India | 2 years and 8 months | Nonrepatriation of accrued foreign exchange to a person resident outside India | The applicant with his brother with a view to pursue other business activities opened and closed various foreign currency accounts overseas, incorporated and liquidated wholly owned subsidiaries (WOS), formed and terminated trust overseas etc. Their earnings overseas were transferred to a foreign bank account with First Gulf Bank in Dubai, which was jointly opened by the applicant and his brother on July 6, 2013. Non-repatriation of accrued foreign exchange to India, was in contravention of Regulation 3 of Notification No. FEMA 9/2000-RB. The money was repatriated to India on various dates between 9.12.2015 and 9.3.2016. | 350,773,154 | 2,154,639 | |
| 161 | Arun Mammen | Aug/2016 | Realisation, Repatriation & Surrender of Foreign Exchange | FEMA 9/2000-RB | R/R/S- Non-repatriation of accrued foreign exchange to a person resident outside India | 2 years and 8 months | Nonrepatriation of accrued foreign exchange to a person resident outside India | The applicant with his brother with a view to pursue other business activities opened and closed various foreign currency accounts overseas, incorporated and liquidated wholly owned subsidiaries (WOS), formed and terminated trust overseas etc. Their earnings overseas were transferred to a foreign bank account with First Gulf Bank in Dubai, which was jointly opened by the applicant and his brother on July 6, 2013. Non-repatriation of accrued foreign exchange to India, was in contravention of Regulation 3 of Notification No. FEMA 9/2000-RB. The money was repatriated to India on various dates between 9.12.2015 and 9.3.2016. | 350,773,154 | 2,154,639 | |
| 162 | Marico Limited | Aug/2016 | ODI | FEMA 120/RB-2004 | ODI- Delay in reporting issue of Corporate Guarantee in Form ODI | 10 years | (i) Delay in reporting issue of Corporate Guarantee in Form ODI and (ii) Extension of corporate guarantee on behalf of first level stepdown subsidiary, without prior approval of the Reserve Bank of India. | The applicant is engaged in the business of manufacturing of coconut oil, hair oils, refined edible oils, processed foods etc. A Wholly Owned Subsidiary (WOS) of the applicant company, namely, Marico Bangladesh Limited (MBL) was incorporated in Bangladesh. MBL issued 10% of its equity capital to public by way of Initial Public Offering (IPO) in September, 2009, in the Bangladesh market, consequently changing its ownership pattern from WOS to a Joint Venture (JV) company. Further, a WOS of MBL and a step-down subsidiary of the applicant, namely, MBL Industries Limited (MBLIL) was set up on August 4, 2003. The applicant issued a corporate guarantee of USD 7.5 million, to Citibank Bangladesh, on behalf of MBL, w.e.f. October 5, 2005. However, the above was reported in Form ODI with a delay, in August 2015, thereby contravening Regulation 6 (2) (vi) of Notification No. FEMA 120/2004-RB, dated July 7, 2004, as amended from time to time. The abovementioned Corporate Guarantee was split into half and extended to the first level SDS of the applicant, MBLIL, w.e.f. January 8, 2007. This was in contravention of Regulation 6 (4) of Notification No. FEMA 120/2004-RB, dated July 7, 2004 (as then applicable), as amended from time to time. The guarantee was cancelled w.e.f. March 31, 2011 and the transactions have been taken on record. | 331,762,500 | 865,444 | |
| 163 | Marico Limited | Aug/2016 | ODI | FEMA 120/RB-2004 | ODI- Extension of corporate guarantee on behalf of first level step-down subsidiary, without prior approval of the Reserve Bank of India. | 4 years | (i) Delay in reporting issue of Corporate Guarantee in Form ODI and (ii) Extension of corporate guarantee on behalf of first level stepdown subsidiary, without prior approval of the Reserve Bank of India. | The applicant is engaged in the business of manufacturing of coconut oil, hair oils, refined edible oils, processed foods etc. A Wholly Owned Subsidiary (WOS) of the applicant company, namely, Marico Bangladesh Limited (MBL) was incorporated in Bangladesh. MBL issued 10% of its equity capital to public by way of Initial Public Offering (IPO) in September, 2009, in the Bangladesh market, consequently changing its ownership pattern from WOS to a Joint Venture (JV) company. Further, a WOS of MBL and a step-down subsidiary of the applicant, namely, MBL Industries Limited (MBLIL) was set up on August 4, 2003. The applicant issued a corporate guarantee of USD 7.5 million, to Citibank Bangladesh, on behalf of MBL, w.e.f. October 5, 2005. However, the above was reported in Form ODI with a delay, in August 2015, thereby contravening Regulation 6 (2) (vi) of Notification No. FEMA 120/2004-RB, dated July 7, 2004, as amended from time to time. The abovementioned Corporate Guarantee was split into half and extended to the first level SDS of the applicant, MBLIL, w.e.f. January 8, 2007. This was in contravention of Regulation 6 (4) of Notification No. FEMA 120/2004-RB, dated July 7, 2004 (as then applicable), as amended from time to time. The guarantee was cancelled w.e.f. March 31, 2011 and the transactions have been taken on record. | 166,603,125 | 865,444 | |
| 164 | Subhkam Ventures (I) Private Limited | Aug/2016 | ODI | FEMA 120/RB-2004 | ODI- Failure of utilisation of investment in a WOS for bonafide activity | 8 years | (i) Utilization of investment made in a Wholly Owned Subsidiary (WOS) for a nonbonafide activity and (ii) nonsubmission of Annual Performance Reports (APR) within the stipulated time period. | The applicant is engaged in the business of managing public issue of shares and securities in all its branches and carries out the business of an investment company. A Wholly Owned Subsidiary (WOS) of the applicant company, namely, Subhkam Overseas Limited was incorporated in British Virgin Islands on April 15, 2008, to carry out the bonafide activity of software supply services. On July 29, 2010 the applicant remitted USD 12,33,000 to its WOS, out of which USD 12,25,000/- was invested back by the WOS in India, to make payment for the shares purchased by it of an Indian entity viz. Usha Communication Technology Limited, Kolkata. As this was not a bonafide activity of the WOS, the abovementioned transaction was in contravention of Regulation 6 (2) (ii) of Notification No. FEMA 120/2004-RB. The unwinding process is now complete and has been taken on record on July 12, 2016. The Annual Performance Reports (APRs) for the years 2008-09, 2009-10 and 2010-11 were submitted with a delay beyond the stipulated time period | 52,111,500 | 470,836 | |
| 165 | Subhkam Ventures (I) Private Limited | Aug/2016 | ODI | FEMA 120/RB-2004 | ODI- Investment in WOS for non bona fide activity and Non submission of APR | 8 years | (i) Utilization of investment made in a Wholly Owned Subsidiary (WOS) for a nonbonafide activity and (ii) nonsubmission of Annual Performance Reports (APR) within the stipulated time period. | The applicant is engaged in the business of managing public issue of shares and securities in all its branches and carries out the business of an investment company. A Wholly Owned Subsidiary (WOS) of the applicant company, namely, Subhkam Overseas Limited was incorporated in British Virgin Islands on April 15, 2008, to carry out the bonafide activity of software supply services. On July 29, 2010 the applicant remitted USD 12,33,000 to its WOS, out of which USD 12,25,000/- was invested back by the WOS in India, to make payment for the shares purchased by it of an Indian entity viz. Usha Communication Technology Limited, Kolkata. As this was not a bonafide activity of the WOS, the abovementioned transaction was in contravention of Regulation 6 (2) (ii) of Notification No. FEMA 120/2004-RB. The unwinding process is now complete and has been taken on record on July 12, 2016. The Annual Performance Reports (APRs) for the years 2008-09, 2009-10 and 2010-11 were submitted with a delay beyond the stipulated time period | 52,111,500 | 470,836 | |
| 166 | Triple Rank Commodities Private Limited | Aug/2016 | ODI | FEMA 120/RB-2004 | ODI- Delay in repatriation to India sale proceeds of shares/ securities beyond the stipulated period | 1 years | (i) delay in repatriation of disinvestment proceeds beyond the stipulated time period and (ii) nonsubmission of Annual Performance Reports (APR) within the stipulated time period. | The applicant is engaged in the business of dealing in ferrous and non-ferrous metals. The applicant made an Overseas Direct Investment, acquiring 100% stake in Sunstar Global FZE in United Arab Emirates in the year 2006-07. The Wholly Owned Subsidiary (WOS) was closed on March 5, 2014. The disinvestment proceeds were repatriated to India with a delay beyond the stipulated time period, thus contravening Regulation 16(2) of Notification No. FEMA 120/2004-RB dated July 7, 2004 as amended from time to time. The Annual Performance Reports (APRs) for the years 2011-12, 2012-13 and 2013-14 were also submitted with a delay beyond the stipulated time period. | 16,129,413 | 160,647 | |
| 167 | Triple Rank Commodities Private Limited | Aug/2016 | ODI | FEMA 120/RB-2004 | ODI- Delay in repatriation of divestment proceeds and non submisison of APR | 1 years | (i) delay in repatriation of disinvestment proceeds beyond the stipulated time period and (ii) nonsubmission of Annual Performance Reports (APR) within the stipulated time period. | The applicant is engaged in the business of dealing in ferrous and non-ferrous metals. The applicant made an Overseas Direct Investment, acquiring 100% stake in Sunstar Global FZE in United Arab Emirates in the year 2006-07. The Wholly Owned Subsidiary (WOS) was closed on March 5, 2014. The disinvestment proceeds were repatriated to India with a delay beyond the stipulated time period, thus contravening Regulation 16(2) of Notification No. FEMA 120/2004-RB dated July 7, 2004 as amended from time to time. The Annual Performance Reports (APRs) for the years 2011-12, 2012-13 and 2013-14 were also submitted with a delay beyond the stipulated time period. | 16,129,413 | 160,647 | |
| 168 | Sohil Premkumar Kothari | Aug/2016 | ODI | FEMA 120/RB-2004 | ODI- Violation of provision of no direct investment outside India by person resident in India | 5 months to 9 months | (i) Contraveining provision of Regulation 5 by making direct investment outside India.(ii) Nonsubmission of Annual Performance Reports (APR) within the stipulated time period. | The applicant purchased 50 shares in the overseas entity, M/s Fine Euro BVBA, Belgium from M/s Fine Jewellery Manufacturing Limited, India (SEEPZ Unit), on March 12, 2013, paying an amount of Rs. 3,83,103/- (Euro 6300) as consideration for the purchase of shares. Overseas Direct Investment by resident individuals was permitted vide Notification No. FEMA.263/RB-2013 dated March 5, 2013, effective from date August 5, 2013 (date of notification in the Gazette), which was an amendment to Notification No. FEMA 120/2004-RB. Thus, the abovementioned transaction was in contravention of Regulation 5(1) of Notification No. FEMA 120/2004-RB, dated July 7, 2004 (as then applicable), as amended from time to time. There was also a delay in submission of APRs for the years 2012 – 13 and 2013-14, of nine months and six months respectively, thus contravening Regulation 15 (iii) of Notification No. FEMA 120/2004 RB, dated July 7, 2004 as amended from time to time. | 383,103 | 71,915 | |
| 169 | Sohil Premkumar Kothari | Aug/2016 | ODI | FEMA 120/RB-2004 | ODI- Undertaking ODI by individiual prior to Aug 2013 and Non submission of APR | 5 months to 9 months | (i) Contraveining provision of Regulation 5 by making direct investment outside India.(ii) Nonsubmission of Annual Performance Reports (APR) within the stipulated time period. | The applicant purchased 50 shares in the overseas entity, M/s Fine Euro BVBA, Belgium from M/s Fine Jewellery Manufacturing Limited, India (SEEPZ Unit), on March 12, 2013, paying an amount of Rs. 3,83,103/- (Euro 6300) as consideration for the purchase of shares. Overseas Direct Investment by resident individuals was permitted vide Notification No. FEMA.263/RB-2013 dated March 5, 2013, effective from date August 5, 2013 (date of notification in the Gazette), which was an amendment to Notification No. FEMA 120/2004-RB. Thus, the abovementioned transaction was in contravention of Regulation 5(1) of Notification No. FEMA 120/2004-RB, dated July 7, 2004 (as then applicable), as amended from time to time. There was also a delay in submission of APRs for the years 2012 – 13 and 2013-14, of nine months and six months respectively, thus contravening Regulation 15 (iii) of Notification No. FEMA 120/2004 RB, dated July 7, 2004 as amended from time to time. | 383,103 | 71,915 | |
| 170 | Viral Premkumar Kothari | Aug/2016 | ODI | FEMA 120/RB-2004 | ODI- Violation of provision of no direct investment outside India by person resident in India | 5 months to 9 months | (i) Contraveining provision of Regulation 5 by making direct investment outside India.(ii) Nonsubmission of Annual Performance Reports (APR) within the stipulated time period. | The applicant purchased 50 shares in the overseas entity, M/s Fine Euro BVBA, Belgium from M/s Fine Jewellery Manufacturing Limited, India (SEEPZ Unit), on March 12, 2013, paying an amount of Rs. 3,83,103/- (Euro 6300) as consideration for the purchase of shares. Overseas Direct Investment by resident individuals was permitted vide Notification No. FEMA.263/RB-2013 dated March 5, 2013, effective from date August 5, 2013 (date of notification in the Gazette), which was an amendment to Notification No. FEMA 120/2004-RB. Thus, the abovementioned transaction was in contravention of Regulation 5(1) of Notification No. FEMA 120/2004-RB, dated July 7, 2004 (as then applicable), as amended from time to time. There was also a delay in submission of APRs for the years 2012 – 13 and 2013-14, of nine months and six months respectively, thus contravening Regulation 15 (iii) of Notification No. FEMA 120/2004 RB, dated July 7, 2004 as amended from time to time. | 383,103 | 71,915 | |
| 171 | Viral Premkumar Kothari | Aug/2016 | ODI | FEMA 120/RB-2004 | ODI- Undertaking ODI by individiual prior to Aug 2013 and Non submission of APR | 5 months to 9 months | (i) Contraveining provision of Regulation 5 by making direct investment outside India.(ii) Nonsubmission of Annual Performance Reports (APR) within the stipulated time period. | The applicant purchased 50 shares in the overseas entity, M/s Fine Euro BVBA, Belgium from M/s Fine Jewellery Manufacturing Limited, India (SEEPZ Unit), on March 12, 2013, paying an amount of Rs. 3,83,103/- (Euro 6300) as consideration for the purchase of shares. Overseas Direct Investment by resident individuals was permitted vide Notification No. FEMA.263/RB-2013 dated March 5, 2013, effective from date August 5, 2013 (date of notification in the Gazette), which was an amendment to Notification No. FEMA 120/2004-RB. Thus, the abovementioned transaction was in contravention of Regulation 5(1) of Notification No. FEMA 120/2004-RB, dated July 7, 2004 (as then applicable), as amended from time to time. There was also a delay in submission of APRs for the years 2012 – 13 and 2013-14, of nine months and six months respectively, thus contravening Regulation 15 (iii) of Notification No. FEMA 120/2004 RB, dated July 7, 2004 as amended from time to time. | 383,103 | 71,915 | |
| 172 | All-ways Logistics India Private Limited | Aug/2016 | ODI | FEMA 120/RB-2004 | ODI- Delay in filing form ODI | 3 years | (i) Delay in filing Form ODI (ii) Nonsubmission of Annual Performance Reports (APR) within the stipulated time period. | The Applicant, All-ways Logistics Private Ltd, New Delhi has been incorporated on March 14, 2012 in Hong Kong. The 10000 equity shares of HKD 1 each have been allotted in the name of Director of that company i.e. Deepak Kumar Gupta (6000 shares) and Nishi Gupta (4000 shares) instead of to the company i.e. All-ways Logistics Private Ltd. Upon realization of their mistake, the aforesaid equity shares have been transferred on April 03, 2012 to the promoter of the company without any cash / kind consideration. The foreign currency meant for travelling expenses had been used to open the new bank account in Hong Kong and the same has been treated as transfer of initial share capital instead of advance. The transaction took place on July 23, 2012. The Indian Party did not submit the duly completed Part I of the Form ODI, as prescribed by the Reserve Bank from time to time, to the designated branch of an authorized dealer. The applicant also did not submit the APRs for the year 2013, 2014 and 2015 within the stipulated time. | 67,500 | 43,000 | |
| 173 | All-ways Logistics India Private Limited | Aug/2016 | ODI | FEMA 120/RB-2004 | ODI- Delay in filing Form ODI and Non submission of APR | 3 years | (i) Delay in filing Form ODI (ii) Nonsubmission of Annual Performance Reports (APR) within the stipulated time period. | The Applicant, All-ways Logistics Private Ltd, New Delhi has been incorporated on March 14, 2012 in Hong Kong. The 10000 equity shares of HKD 1 each have been allotted in the name of Director of that company i.e. Deepak Kumar Gupta (6000 shares) and Nishi Gupta (4000 shares) instead of to the company i.e. All-ways Logistics Private Ltd. Upon realization of their mistake, the aforesaid equity shares have been transferred on April 03, 2012 to the promoter of the company without any cash / kind consideration. The foreign currency meant for travelling expenses had been used to open the new bank account in Hong Kong and the same has been treated as transfer of initial share capital instead of advance. The transaction took place on July 23, 2012. The Indian Party did not submit the duly completed Part I of the Form ODI, as prescribed by the Reserve Bank from time to time, to the designated branch of an authorized dealer. The applicant also did not submit the APRs for the year 2013, 2014 and 2015 within the stipulated time. | 67,500 | 43,000 | |
| 174 | Prashant Juneja | Aug/2016 | ODI | FEMA 120/RB-2004 | ODI- Delay in reporting disinvestment of WOS | 4 months | Disinvesting the shares of the company before the overseas concern has been in operation for at least one full year and the Annual Performance Report together with the audited accounts for that year has been submitted to the Reserve Bank | The Applicant, a resident individual had incorporated a company in Dubai called Cosmos Worldwide Inc. DMCC in December 2014 with 100.0% shares being held by him for trading in food commodities. The applicant then remitted rupee equivalent of AED 50,000 (Rs. 9.00 lakh ) on March 12, 2015 through Axis Bank, the AD. After setting up of the company, the applicant transferred 100.0% shares to his JV in India namely Arico Foods Private Ltd., New Delhi in which he holds 90.0% stake in April 2015 without any outflow of remittance from the overseas entity before completing the minimum one year period as laid down in the FEMA, 1999. The applicant has stated that the contravention has happened due to negligence and lack of proper understanding of rules and regulations. | 900,000 | 54,500 | |
| 175 | E-Land Apparel Limited | Aug/2016 | ECB | FEMA 3/2000-RB | B/L- Misutilisation of ECB | 2 months | (i) Utilization of external commercial borrowing (ECB) proceeds towards general corporate purposes which was not a permissible end use during the period to which the transaction relates and (ii) Draw down of ECB before obtaining Loan Registration Number (LRN) from the Reserve Bank of India (RBI). | The applicant is engaged in the business of manufacturing fabrics and garments for domestic and export market. The applicant is a public limited company listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE). E-Land Asia Holdings Pte Limited, Singapore (E-Singapore) holds majority stake in the applicant (i.e. 65.84%) and acquired management control of the applicant with effect from August 23, 2011. Further, Indian promoters advanced an unsecured loan amounting to Rs.15,00,00,000/- to the applicant vide loan agreement dated August 20, 2011, which was utilized by the applicant for meeting working capital requirements. However, when all the attempts made by applicant to restructure the existing debts and loans failed , State Bank of India (being the lead banker) referred the case of the applicant to the Corporate Debt Restructuring (CDR) forum for further restructuring of the debt obligations of the applicant. The applicant defaulted in repayment of loan due to severe financial crisis. They issued cheque to promoters to the ex-promoters amounting to Rs.4,04,78,816 for discharging the interest on default in loan repayment, out of which cheques amounting to Rs.2,02,39,412 were dishonoured due to lack of funds. The total liability of the applicant, consisting of principal and interest on default in repayment of loan amounted to Rs.17,02,39,412/-. The ex-promoters filed a suit against the applicant for dishonor of the cheques.The applicant sought aid from its holding company to make payment of outstanding dues to the ex-promoters. Under the settlement agreement, the ex-promoters agreed to waive off their dues amounting to Rs.5,51,76,000 and agreed to receive the balance Rs.11,50,63,412/- in full settlement of the loan amount and interest thereon. Holding company paid the settlement fees directly to ex-promoters on behalf of the applicant. | 115,063,412 | 740,400 | |
| 176 | E-Land Apparel Limited | Aug/2016 | ECB | FEMA 3/2000-RB | B/L- Failure in obtaining LRN from RBI before drawdown of ECB | 2 years and 6 months | (i) Utilization of external commercial borrowing (ECB) proceeds towards general corporate purposes which was not a permissible end use during the period to which the transaction relates and (ii) Draw down of ECB before obtaining Loan Registration Number (LRN) from the Reserve Bank of India (RBI). | The applicant is engaged in the business of manufacturing fabrics and garments for domestic and export market. The applicant is a public limited company listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE). E-Land Asia Holdings Pte Limited, Singapore (E-Singapore) holds majority stake in the applicant (i.e. 65.84%) and acquired management control of the applicant with effect from August 23, 2011. Further, Indian promoters advanced an unsecured loan amounting to Rs.15,00,00,000/- to the applicant vide loan agreement dated August 20, 2011, which was utilized by the applicant for meeting working capital requirements. However, when all the attempts made by applicant to restructure the existing debts and loans failed , State Bank of India (being the lead banker) referred the case of the applicant to the Corporate Debt Restructuring (CDR) forum for further restructuring of the debt obligations of the applicant. The applicant defaulted in repayment of loan due to severe financial crisis. They issued cheque to promoters to the ex-promoters amounting to Rs.4,04,78,816 for discharging the interest on default in loan repayment, out of which cheques amounting to Rs.2,02,39,412 were dishonoured due to lack of funds. The total liability of the applicant, consisting of principal and interest on default in repayment of loan amounted to Rs.17,02,39,412/-. The ex-promoters filed a suit against the applicant for dishonor of the cheques.The applicant sought aid from its holding company to make payment of outstanding dues to the ex-promoters. Under the settlement agreement, the ex-promoters agreed to waive off their dues amounting to Rs.5,51,76,000 and agreed to receive the balance Rs.11,50,63,412/- in full settlement of the loan amount and interest thereon. Holding company paid the settlement fees directly to ex-promoters on behalf of the applicant. | 115,063,412 | 740,400 | |
| 177 | Avery Dennison India Pvt Ltd. | Aug/2016 | ECB | FEMA 3/2000-RB | Delay in reporting | 5 years | (i) Repayment schedule of the loan not being in compliance with the minimum average maturity period as prescribed; (ii) Allincost ceiling in respect of the loan was breached; and (iii) Prior approval of the Reserve Bank of India (RBI) was not obtained for the import of goods under finance lease. | The applicant is engaged in the business of manufacturing, labeling and packing materials and providing graphics and reflective solutions. On March 3, 2009, the applicant imported two digital machines costing USD 1,001,500 (Rs.5,00,00,000 approximately) under an operating lease arrangement from The Walden Asset Group, LLC, USA. In terms of the said agreement, the total lease rental for the two machines amounted to USD 1,189,200 (Rs.6,00,00,000/-). The average maturity period under the operating lease arrangement was 2.6 years with rate of interest at 6.98%. The applicant subsequently converted the operating lease arrangement to a finance lease arrangement vide amendment agreement dated January 27, 2011 without obtaining the prior approval of the RBI. The applicant sought permission from RBI vide letter dated June 11, 2012 for taking on record and registering the finance lease as an external commercial borrowing (ECB) transaction. However, RBI issued a letter dated September 05, 2012 to the applicant refusing to register the said finance lease as an ECB on the grounds that: (i) the average maturity period was less than the prescribed period for ECB; (ii) the all-in-cost of the loan exceeded the permissible ceiling; and (iii) no prior approval of the RBI had been obtained for import of the goods under finance lease. | 60,000,000 | 470,000 | |
| 178 | Metro Teleworks Private Limited | Aug/2016 | ODI | FEMA 120/RB-2004 | ODI- Issuance of Letter of Credit under automatic route without approval of RBI | 3 years | ODI Failure to obtain RBI approval at the time of issuance of Letter of Credit on behalf of step down subsidiary | The applicant is engaged in the business of telecommunications wireless network services and related activities. The applicant set up a company, Metro Global Services Limited, Thailand as a first level step down subsidiary of its wholly owned subsidiary (WOS), Metro Global Services Pte Limited, Singapore (UIN AHWAZ20090725). The applicant issued Standby Letter of Credit on behalf of Metro Global Services Limited, Thailand under the Automatic Route for an amount of USD 350,000 (Rs.1,91,27,500/-) on April 04, 2013 without prior approval of the Reserve Bank of India (RBI). | 19,127,500 | 164,800 | |
| 179 | Metro Teleworks Private Limited | Aug/2016 | ODI | FEMA 120/RB-2004 | ODI- Issuance of Letter of Credit under automatic route without approval of RBI | 2 to 3 years | ODI Failure to obtain RBI approval at the time of issuance of Letter of Credit on behalf of step down subsidiary | The applicant is engaged in the business of telecommunications, wireless network services and related activities. The applicant set up a company, Metro Global Telecom Services (Pty) Limited, South Africa as a first level step down subsidiary of its wholly owned subsidiary (WOS), Metro Global Consultancy FZE, UAE (UIN AHWAZ20090307). On three occasions, the applicant issued Standby Letter of Credit on behalf of Metro Global Telecom Services (Pty) Limited, South Africa under the Automatic Route without the prior approval of the Reserve Bank of India | 14,697,000 | 138,200 | |
| 180 | Neel Impex | Aug/2016 | ECB | FEMA 3/2000-RB | B/L- Delay in payment to foreign supplier beyond the period of 180 days | Le than 1 years | Delay in payment to foreign supplier beyond the period of 180 days. | The applicant is engaged in the business of manufacture and export of diamond studded gold jewellery. The applicant delayed in making payments to overseas suppliers for import of cut and polished diamonds beyond the prescribed period of 180 days and sought post facto approval from the Reserve Bank of India (RBI) for the outstanding payments to overseas suppliers. | 278,465,670 | 1,442,300 | |
| 181 | TWI(India) Private Limited | Aug/2016 | ECB | FEMA 3/2000-RB | B/L- Delay in repayment of foreign currency credit. | 10 months to 4 years | Delay in remittance of outstanding fees payable by the applicant to its parent company overseas | The applicant is a wholly owned subsidiary (WOS) of TWI Limited, UK which is a leading provider of training in welding, welding inspection, plant inspection, quality control and non-destructive testing. CSWIP is the only certifying authority for the above courses and TWI is the authorized entity to conduct courses with regard to certificates issued by CSWIP. In terms of the TWI group policy, TWI UK renders various services to the applicant such as training, support, CSWIP certification, etc. The certification and marking fee which is fixed by CSWIP every year is charged to all subsidiaries of TWI Limited, UK. The appapplicant was issued certain invoices by TWI Limited, UK in connection with certification and marking charges payable to CSWIP which remained outstanding for a period exceeding 180 days from the date of issue of the invoices. Since the outstanding invoices were treated as trade payables in the books of account of the applicant, the above delay was in contravention of Regulation 5(3). | 132,850,921 | 825,600 | |
| 182 | Mumbai Mantra Media Limited | Aug/2016 | ODI | FEMA 120/RB-2004 | ODI- Non reporing of remittance to RBI | 1 to 6 years | (i) Delayed reporting of remittance made to overseas entity in the prescribed form to the Reserve Bank of India (RBI) and (ii) Non receipt of share certificate in respect of the overseas investments within the prescribed period | The applicant is a public limited company and is engaged in the business of media and entertainment. The applicant set up a wholly owned subsidiary in Mauritius which was incorporated on October 27, 2009 with a single shareholder.The applicant made initial remittance of USD 10,975 (Rs.5,11,819.13) on 26.10.2009 to the overseas entity towards incorporation charges, which was later converted to equity. The applicant did not report the overseas investment to the Reserve Bank of India (RBI) in Form ODI within the prescribed time period of 30 days from the date of remittance. Subsequently, the applicant made additional remittances of USD 1,600,000 on October 29, 2009 and USD 6000 on November 3, 2010 to the overseas WOS. The applicant received share certificate in respect of overseas investments amounting to USD 1,616,975 on November 17, 2010. Thus, share certificate for the amount of USD 1,610,975 was received with delay, i.e., after the expiry of six months from the date of remittance. | 511,819 | 63,800 | |
| 183 | Mumbai Mantra Media Limited | Aug/2016 | ODI | FEMA 120/RB-2004 | ODI- Non receipt of share certificate for investment in JV/WOS | 1 to 6 years | (i) Delayed reporting of remittance made to overseas entity in the prescribed form to the Reserve Bank of India (RBI) and (ii) Non receipt of share certificate in respect of the overseas investments within the prescribed period | The applicant is a public limited company and is engaged in the business of media and entertainment. The applicant set up a wholly owned subsidiary in Mauritius which was incorporated on October 27, 2009 with a single shareholder.The applicant made initial remittance of USD 10,975 (Rs.5,11,819.13) on 26.10.2009 to the overseas entity towards incorporation charges, which was later converted to equity. The applicant did not report the overseas investment to the Reserve Bank of India (RBI) in Form ODI within the prescribed time period of 30 days from the date of remittance. Subsequently, the applicant made additional remittances of USD 1,600,000 on October 29, 2009 and USD 6000 on November 3, 2010 to the overseas WOS. The applicant received share certificate in respect of overseas investments amounting to USD 1,616,975 on November 17, 2010. Thus, share certificate for the amount of USD 1,610,975 was received with delay, i.e., after the expiry of six months from the date of remittance. | 76,303,819 | 63,800 | |
| 184 | Protech Engineering Industries Private Limited | Aug/2016 | ODI | FEMA 120/RB-2004 | ODI- Non receipt of share certificate for investment in JV/WOS | 3.67 years | (i) Nonreceipt of share certificates within the stipulated time period and (ii) Nonsubmission of Annual Performance Reports (APR) within the stipulated time period | The applicant is engaged in the business of recruitment and placement. The applicant company remitted USD 75,000 as a refundable deposit on May 15, 2012 in the form of a swift transfer in favour of overseas JV viz., Protech Holding Inc., Philippines, through Bank of Philippines Island. The purpose of remittance was to develop overseas recruitment work from Philippines. The applicant was under automatic route. No shares were allotted and no ‘Annual Performance Reports’ (APRs) were reported. | 4,003,687 | 76,700 | |
| 185 | Protech Engineering Industries Private Limited | Aug/2016 | ODI | FEMA 120/RB-2004 | ODI- Non receipt of share certificate and Non submission of APR | 4 years | (i) Nonreceipt of share certificates within the stipulated time period and (ii) Nonsubmission of Annual Performance Reports (APR) within the stipulated time period | The applicant is engaged in the business of recruitment and placement. The applicant company remitted USD 75,000 as a refundable deposit on May 15, 2012 in the form of a swift transfer in favour of overseas JV viz., Protech Holding Inc., Philippines, through Bank of Philippines Island. The purpose of remittance was to develop overseas recruitment work from Philippines. The applicant was under automatic route. No shares were allotted and no ‘Annual Performance Reports’ (APRs) were reported. | 4,003,687 | 76,700 | |
| 186 | Maru Limited | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Failure in obtaining FIPB approval while making downstream investment by an Indian company to resident company | 4 years and 6 months | Failure in obtaining FIPB approval at the time of transfer of shares under Government approval route | The applicant company is engaged in the business of growing, harvesting, manufacturing and selling tea through its tea estates in the state of Assam. The applicant has 525318 shares of M/s WTL which constitutes 4.40% of total shares. The shares held by the applicant, were originally issued to Warren Tea Holding Limited (WTHL), UK, and were acquired by the applicants on February 9, 2011, pursuant to a scheme of demerger. At the time of the said demerger, FDI in tea plantations was under the Government approval route, the transfer of shares thus requiring prior FIPB approval. The NR shareholders, including the applicant, vide their letters dated February 11, 2013, sought approval for transfer of their shareholding in WTL to resident shareholders. They were advised, vide RBI letter dated April 2, 2013, to submit a copy of FIPB approval, if any, for transfer of respective equity shares from Warren Tea Holding Limited to the NR shareholders in February, 2011. They were given thrice reminder to get FIPB approval The applicant applied for FIPB approval, the said approval was granted subject to compounding. The applicant has contravened the provision of Notification No. FEMA 20/2000-RB by transferring shares from WTHL to applicant without permission of Government of India. | 5,253,180 | 86,800 | |
| 187 | Maygrove Investment Limited | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Failure in obtaining FIPB approval while making downstream investment by an Indian company to resident company | 4 years and 6 months | Failure in obtaining FIPB approval at the time of transfer of shares under Government approval route | The applicant company is engaged in the business of growing, harvesting, manufacturing and selling tea through its tea estates in the state of Assam. The applicant has 630106 shares of M/s WTL which constitutes 5.27% of total shares. The shares held by the applicant, were originally issued to Warren Tea Holding Limited (WTHL), UK, and were acquired by the applicants on February 9, 2011, pursuant to a scheme of demerger. At the time of the said demerger, FDI in tea plantations was under the Government approval route, the transfer of shares thus requiring prior FIPB approval. The NR shareholders, including the applicant, vide their letters dated February 11, 2013, sought approval for transfer of their shareholding in WTL to resident shareholders. They were advised, vide RBI letter dated April 2, 2013, to submit a copy of FIPB approval, if any, for transfer of respective equity shares from Warren Tea Holding Limited to the NR shareholders in February, 2011. They were given thrice reminder to get FIPB approval The applicant applied for FIPB approval, the said approval was granted subject to compounding. The applicant has contravened the provision of Notification No. FEMA 20/2000-RB by transferring shares from WTHL to applicant without permission of Government of India. | 6,301,060 | 94,100 | |
| 188 | Woodcutter Limited | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Failure in obtaining FIPB approval while making downstream investment by an Indian company to resident company | 4 years and 6 months | Failure in obtaining FIPB approval at the time of transfer of shares under Government approval route | The applicant company is engaged in the business of growing, harvesting, manufacturing and selling tea through its tea estates in the state of Assam. The applicant has 1181505 shares of M/s WTL which constitutes 9.89% of total shares. The shares held by the applicant, were originally issued to Warren Tea Holding Limited (WTHL), UK, and were acquired by the applicants on February 9, 2011, pursuant to a scheme of demerger. At the time of the said demerger, FDI in tea plantations was under the Government approval route, the transfer of shares thus requiring prior FIPB approval. The NR shareholders, including the applicant, vide their letters dated February 11, 2013, sought approval for transfer of their shareholding in WTL to resident shareholders. They were advised, vide RBI letter dated April 2, 2013, to submit a copy of FIPB approval, if any, for transfer of respective equity shares from Warren Tea Holding Limited to the NR shareholders in February, 2011. They were given thrice reminder to get FIPB approval The applicant applied for FIPB approval, the said approval was granted subject to compounding. The applicant has contravened the provision of Notification No. FEMA 20/2000-RB by transferring shares from WTHL to applicant without permission of Government of India. | 5,359,450 | 87,600 | |
| 189 | Enez Investment Limited | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Failure in obtaining FIPB approval while making downstream investment by an Indian company to resident company | 4 years and 6 months | Failure in obtaining FIPB approval at the time of transfer of shares under Government approval route | The applicant company is engaged in the business of growing, harvesting, manufacturing and selling tea through its tea estates in the state of Assam. The applicant has 1181505 shares of M/s WTL which constitutes 9.89% of total shares. The shares held by the applicant, were originally issued to Warren Tea Holding Limited (WTHL), UK, and were acquired by the applicants on February 9, 2011, pursuant to a scheme of demerger. At the time of the said demerger, FDI in tea plantations was under the Government approval route, the transfer of shares thus requiring prior FIPB approval. The NR shareholders, including the applicant, vide their letters dated February 11, 2013, sought approval for transfer of their shareholding in WTL to resident shareholders. They were advised, vide RBI letter dated April 2, 2013, to submit a copy of FIPB approval, if any, for transfer of respective equity shares from Warren Tea Holding Limited to the NR shareholders in February, 2011. They were given thrice reminder to get FIPB approval The applicant applied for FIPB approval, the said approval was granted subject to compounding. The applicant has contravened the provision of Notification No. FEMA 20/2000-RB by transferring shares from WTHL to applicant without permission of Government of India. | 5,513,460 | 88,600 | |
| 190 | DAR Realty Pvt. Ltd | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 4 days to 208 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is engaged in carrying on business of Real Estate Developments. The applicant company has received total fifteen inflows amounting to Rs.32,01,09,979/- from Foreign investors under automatic route and reported the same to Reserve Bank of India. Out of which, two inflows amounting to Rs.6,99,99,453/-were reported well within stipulated period. However thirteen inflows amounting to Rs.25,01,10,526/- were reported later than 30 days from the date of receipt of the amount of consideration.The applicant allotted equity shares and filed FC-GPRs. the applicant has filed three form FC-GPRs amounting to Rs.32,01,09,290/- beyond the prescribed timeline of 30 days. | 250,110,526 | 179,060 | |
| 191 | DAR Realty Pvt. Ltd | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 28 days to 96 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is engaged in carrying on business of Real Estate Developments. The applicant company has received total fifteen inflows amounting to Rs.32,01,09,979/- from Foreign investors under automatic route and reported the same to Reserve Bank of India. Out of which, two inflows amounting to Rs.6,99,99,453/-were reported well within stipulated period. However thirteen inflows amounting to Rs.25,01,10,526/- were reported later than 30 days from the date of receipt of the amount of consideration.The applicant allotted equity shares and filed FC-GPRs. the applicant has filed three form FC-GPRs amounting to Rs.32,01,09,290/- beyond the prescribed timeline of 30 days. | 320,109,290 | 179,060 | |
| 192 | Groth Continental Manufacturing Pvt. Ltd | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 1 months 24 days to 4 years, 8 months,1 days | (i) Delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India and (iii) delay in allotment of shares beyond stipulated period of 180 days and (iv) delay in refund of excess amount after the stipulated 180 days without RBI’s permission | The applicant company is engaged in carrying on business of manufacturing of Oils Compressors, taps and valves. The applicant company has received total nine inflows amounting to ₹.3,00,39,826/- from Foreign investors under automatic route and reported the same to Reserve Bank of India. The applicant reported the receipt of nine inward remittances, amounting to ₹.300.39 lakh (₹.3,00,39,826/-) to the Ahmedabad Regional Office of the Reserve Bank of India. Out of which, five inflows amounting to ₹1,64,12,524/-were reported within stipulated period,four inflows amounting to ₹1,36,27,302/- were reported later than 30 days from the date of receipt of the amount of consideration.The applicant allotted equity shares and filed FC-GPRs. As indicated the applicant has filed four form FC-GPRs amounting to ₹2,98,72,210 beyond the prescribed timeline of 30 days. the applicant has allotted shares amounting to ₹2,98,72,210 against total inflow of ₹3,00,39,826/-. It is observed that shares amounting to ₹2,10,29,060/-were allotted with the delay of 115 and 403 days beyond stipulated period of 180 days without obtaining prior approval from Reserve Bank of India. Further, the excess amount of ₹1,58,878.50 was refunded only after issue of Memorandum FE. AH. FID No. 1948/06.04.15A(G) 2015-16 dated November 24, 2015 to both the overseas investors. The Company refunded the excess amount of ₹79,439.25 to Continental Disc Corporation, USA, and ₹79,439.25 to Groth Continental manufacturing Pvt Ltd.USA on 17/12/2015 respectively . Thus there was a delay in refund of excess share application money for 1018 days (2 years 9 months 18 days ) beyond stipulated period of 180 days. | 13,627,302 | 389,464 | |
| 193 | Groth Continental Manufacturing Pvt. Ltd | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 1 months 24 days to 4 years, 8 months,1 days | (i) Delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India and (iii) delay in allotment of shares beyond stipulated period of 180 days and (iv) delay in refund of excess amount after the stipulated 180 days without RBI’s permission | The applicant company is engaged in carrying on business of manufacturing of Oils Compressors, taps and valves. The applicant company has received total nine inflows amounting to ₹.3,00,39,826/- from Foreign investors under automatic route and reported the same to Reserve Bank of India. The applicant reported the receipt of nine inward remittances, amounting to ₹.300.39 lakh (₹.3,00,39,826/-) to the Ahmedabad Regional Office of the Reserve Bank of India. Out of which, five inflows amounting to ₹1,64,12,524/-were reported within stipulated period,four inflows amounting to ₹1,36,27,302/- were reported later than 30 days from the date of receipt of the amount of consideration.The applicant allotted equity shares and filed FC-GPRs. As indicated the applicant has filed four form FC-GPRs amounting to ₹2,98,72,210 beyond the prescribed timeline of 30 days. the applicant has allotted shares amounting to ₹2,98,72,210 against total inflow of ₹3,00,39,826/-. It is observed that shares amounting to ₹2,10,29,060/-were allotted with the delay of 115 and 403 days beyond stipulated period of 180 days without obtaining prior approval from Reserve Bank of India. Further, the excess amount of ₹1,58,878.50 was refunded only after issue of Memorandum FE. AH. FID No. 1948/06.04.15A(G) 2015-16 dated November 24, 2015 to both the overseas investors. The Company refunded the excess amount of ₹79,439.25 to Continental Disc Corporation, USA, and ₹79,439.25 to Groth Continental manufacturing Pvt Ltd.USA on 17/12/2015 respectively . Thus there was a delay in refund of excess share application money for 1018 days (2 years 9 months 18 days ) beyond stipulated period of 180 days. | 29,872,210 | 389,464 | |
| 194 | Groth Continental Manufacturing Pvt. Ltd | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Dealy in allotment of shares | 3 months 25 days and 1 years 1 months and8 days | (i) Delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India and (iii) delay in allotment of shares beyond stipulated period of 180 days and (iv) delay in refund of excess amount after the stipulated 180 days without RBI’s permission | The applicant company is engaged in carrying on business of manufacturing of Oils Compressors, taps and valves. The applicant company has received total nine inflows amounting to ₹.3,00,39,826/- from Foreign investors under automatic route and reported the same to Reserve Bank of India. The applicant reported the receipt of nine inward remittances, amounting to ₹.300.39 lakh (₹.3,00,39,826/-) to the Ahmedabad Regional Office of the Reserve Bank of India. Out of which, five inflows amounting to ₹1,64,12,524/-were reported within stipulated period,four inflows amounting to ₹1,36,27,302/- were reported later than 30 days from the date of receipt of the amount of consideration.The applicant allotted equity shares and filed FC-GPRs. As indicated the applicant has filed four form FC-GPRs amounting to ₹2,98,72,210 beyond the prescribed timeline of 30 days. the applicant has allotted shares amounting to ₹2,98,72,210 against total inflow of ₹3,00,39,826/-. It is observed that shares amounting to ₹2,10,29,060/-were allotted with the delay of 115 and 403 days beyond stipulated period of 180 days without obtaining prior approval from Reserve Bank of India. Further, the excess amount of ₹1,58,878.50 was refunded only after issue of Memorandum FE. AH. FID No. 1948/06.04.15A(G) 2015-16 dated November 24, 2015 to both the overseas investors. The Company refunded the excess amount of ₹79,439.25 to Continental Disc Corporation, USA, and ₹79,439.25 to Groth Continental manufacturing Pvt Ltd.USA on 17/12/2015 respectively . Thus there was a delay in refund of excess share application money for 1018 days (2 years 9 months 18 days ) beyond stipulated period of 180 days. | 21,029,060 | 389,464 | |
| 195 | Groth Continental Manufacturing Pvt. Ltd | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in refund of excess share application money to the foreign investor | (i) 54 to 1701 days (ii) 783 to 1597 days (iii) 115 and 403 days (iv) 1018 days | (i) Delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India and (iii) delay in allotment of shares beyond stipulated period of 180 days and (iv) delay in refund of excess amount after the stipulated 180 days without RBI’s permission | The applicant company is engaged in carrying on business of manufacturing of Oils Compressors, taps and valves. The applicant company has received total nine inflows amounting to ₹.3,00,39,826/- from Foreign investors under automatic route and reported the same to Reserve Bank of India. The applicant reported the receipt of nine inward remittances, amounting to ₹.300.39 lakh (₹.3,00,39,826/-) to the Ahmedabad Regional Office of the Reserve Bank of India. Out of which, five inflows amounting to ₹1,64,12,524/-were reported within stipulated period,four inflows amounting to ₹1,36,27,302/- were reported later than 30 days from the date of receipt of the amount of consideration.The applicant allotted equity shares and filed FC-GPRs. As indicated the applicant has filed four form FC-GPRs amounting to ₹2,98,72,210 beyond the prescribed timeline of 30 days. the applicant has allotted shares amounting to ₹2,98,72,210 against total inflow of ₹3,00,39,826/-. It is observed that shares amounting to ₹2,10,29,060/-were allotted with the delay of 115 and 403 days beyond stipulated period of 180 days without obtaining prior approval from Reserve Bank of India. Further, the excess amount of ₹1,58,878.50 was refunded only after issue of Memorandum FE. AH. FID No. 1948/06.04.15A(G) 2015-16 dated November 24, 2015 to both the overseas investors. The Company refunded the excess amount of ₹79,439.25 to Continental Disc Corporation, USA, and ₹79,439.25 to Groth Continental manufacturing Pvt Ltd.USA on 17/12/2015 respectively . Thus there was a delay in refund of excess share application money for 1018 days (2 years 9 months 18 days ) beyond stipulated period of 180 days. | 158,878 | 389,464 | |
| 196 | Haver Ibau India Pvt. Ltd. | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 6 days and 80 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | the company is engaged in activities of Manufacturing, processing Converting, Buying, Selling Supplying, Installing etc. in all type of desulphrizaton equipment and technology for Coal firing power plants, modern dry-process clinker cement production plants ,Coal dust Screening and Fly ahs handling Plants providing and after sale services supply of spare parts etc. The applicant company has received total five inflows amounting to Rs.13,80,33,781/-from Foreign investors under automatic route and reported the same to Reserve Bank of India. The applicant reported the receipt of five inward remittances, amounting to Rs.1380.33/- lakh (Rs.13,80,33,781/-) to the Ahmedabad Regional Office of the Reserve Bank of India. Out of which, three inflows amounting to Rs.2,53,00,400/--were reported well within stipulated period. However two inflows amounting to Rs.11,27,33,381/- were reported later than 30 days from the date of receipt of the amount of consideration.The applicant allotted equity shares and filed FC-GPRs to RBI beyond the period of 30 days from the date of issue of shares to the person resident outside India | 112,733,381 | 111,000 | |
| 197 | Haver Ibau India Pvt. Ltd. | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 2 to 132 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | the company is engaged in activities of Manufacturing, processing Converting, Buying, Selling Supplying, Installing etc. in all type of desulphrizaton equipment and technology for Coal firing power plants, modern dry-process clinker cement production plants ,Coal dust Screening and Fly ahs handling Plants providing and after sale services supply of spare parts etc. The applicant company has received total five inflows amounting to Rs.13,80,33,781/-from Foreign investors under automatic route and reported the same to Reserve Bank of India. The applicant reported the receipt of five inward remittances, amounting to Rs.1380.33/- lakh (Rs.13,80,33,781/-) to the Ahmedabad Regional Office of the Reserve Bank of India. Out of which, three inflows amounting to Rs.2,53,00,400/--were reported well within stipulated period. However two inflows amounting to Rs.11,27,33,381/- were reported later than 30 days from the date of receipt of the amount of consideration.The applicant allotted equity shares and filed FC-GPRs to RBI beyond the period of 30 days from the date of issue of shares to the person resident outside India | 81,844,020 | 111,000 | |
| 198 | Affinity Real Estate Pvt Ltd | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 1 years 6 months 6 days to 1 years 7 months and 12 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The company is engaged in the business of real estate construction development projects. The applicant received funds towards share application money from one foreign investor viz. M/s Affinity Capital Ltd., Mauritius. Out of entire remittance,the applicant reported part receipt of remittances to the Bengaluru Regional Office of the Reserve Bank of India after 30 days from the date of receipt of the amount of consideration. The company allotted equity shares and filed FC-GPRs with RBI. The applicant filed the Form FC-GPRs on allotment of shares with the Bengaluru Regional Office of the Reserve Bank of India, beyond 30 days from the date of issue of shares to persons resident outside India. | 78,240,000 | 257,500 | |
| 199 | Affinity Real Estate Pvt Ltd | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 4 months 20 days to 6 months 21 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The company is engaged in the business of real estate construction development projects. The applicant received funds towards share application money from one foreign investor viz. M/s Affinity Capital Ltd., Mauritius. Out of entire remittance,the applicant reported part receipt of remittances to the Bengaluru Regional Office of the Reserve Bank of India after 30 days from the date of receipt of the amount of consideration. The company allotted equity shares and filed FC-GPRs with RBI. The applicant filed the Form FC-GPRs on allotment of shares with the Bengaluru Regional Office of the Reserve Bank of India, beyond 30 days from the date of issue of shares to persons resident outside India. | 118,780,000 | 257,500 | |
| 200 | Cisco Commerce India Pvt Ltd | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 15 days | (i) Delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) Delay in refund of excess share application money to the foreign investor. | The company is engaged in the business of Information Technology products and Information Technology enabled services. The applicant received funds towards share application money from one foreign investor viz. M/s Cisco Systems International B.V., Netherlands. The applicant reported receipt of remittances to the Bengaluru Regional Office of the Reserve Bank of India with delay of 15 days beyond the stipulated time of 30 days in respect of remittance. Shares to the extent of Rs.15,00,00,000/- relating to a remittance received on December 4, 2013 were allotted on July 17, 2014 after the stipulated period of 180 days without the approval of Reserve Bank. | 100,000 | 610,000 | |
| 201 | Cisco Commerce India Pvt Ltd | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in refund of excess share application money to the foreign investor | 1 months and 15 days | (i) Delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) Delay in refund of excess share application money to the foreign investor. | The company is engaged in the business of Information Technology products and Information Technology enabled services. The applicant received funds towards share application money from one foreign investor viz. M/s Cisco Systems International B.V., Netherlands. The applicant reported receipt of remittances to the Bengaluru Regional Office of the Reserve Bank of India with delay of 15 days beyond the stipulated time of 30 days in respect of remittance. Shares to the extent of Rs.15,00,00,000/- relating to a remittance received on December 4, 2013 were allotted on July 17, 2014 after the stipulated period of 180 days without the approval of Reserve Bank. | 1,500,000 | 610,000 | |
| 202 | Cobra Carbide Pvt Ltd | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 9 years 7 months 6 days to 9 years 7 months 11 days | (i) Delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) Delay in refund of excess share application money to the foreign investor and (iii) Delay in submission of Form FCGPRs | The company is engaged in the manufacturing of solid carbide drills, end mills and cutting tools The applicant received funds towards share application money from the foreign investor, M/s American Quality Tools Inc., USA, on behalf of Mr. Rakesh Aghi and Mr. Sameer Aghi towards subscription to equity shares.The applicant reported receipt of remittances to the Bengaluru Regional Office of the Reserve Bank of India with delay beyond the stipulated time of 30 days on all occasions. An excess share application money of Rs.29,83,757.88 was refunded to the original remitter M/s American Quality Tools Inc., USA on June 6, 2016 with delay beyond the stipulated period of 180 days from the date of receipt of amount of consideration. Further, the applicant alloted equity shares and file form FC-GPRs to RBI beyond the period of 30 days from the date of issue of shares to a person resident outside India. | 62,983,758 | 2,058,200 | |
| 203 | Cobra Carbide Pvt Ltd | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in refund of excess share application money to the foreign investor | 8 years 6m and 7 days | (i) Delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) Delay in refund of excess share application money to the foreign investor and (iii) Delay in submission of Form FCGPRs | The company is engaged in the manufacturing of solid carbide drills, end mills and cutting tools The applicant received funds towards share application money from the foreign investor, M/s American Quality Tools Inc., USA, on behalf of Mr. Rakesh Aghi and Mr. Sameer Aghi towards subscription to equity shares.The applicant reported receipt of remittances to the Bengaluru Regional Office of the Reserve Bank of India with delay beyond the stipulated time of 30 days on all occasions. An excess share application money of Rs.29,83,757.88 was refunded to the original remitter M/s American Quality Tools Inc., USA on June 6, 2016 with delay beyond the stipulated period of 180 days from the date of receipt of amount of consideration. Further, the applicant alloted equity shares and file form FC-GPRs to RBI beyond the period of 30 days from the date of issue of shares to a person resident outside India. | 2,983,757 | 2,058,200 | |
| 204 | Cobra Carbide Pvt Ltd | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 9 years 10 months 28 days | (i) Delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) Delay in refund of excess share application money to the foreign investor and (iii) Delay in submission of Form FCGPRs | The company is engaged in the manufacturing of solid carbide drills, end mills and cutting tools The applicant received funds towards share application money from the foreign investor, M/s American Quality Tools Inc., USA, on behalf of Mr. Rakesh Aghi and Mr. Sameer Aghi towards subscription to equity shares.The applicant reported receipt of remittances to the Bengaluru Regional Office of the Reserve Bank of India with delay beyond the stipulated time of 30 days on all occasions. An excess share application money of Rs.29,83,757.88 was refunded to the original remitter M/s American Quality Tools Inc., USA on June 6, 2016 with delay beyond the stipulated period of 180 days from the date of receipt of amount of consideration. Further, the applicant alloted equity shares and file form FC-GPRs to RBI beyond the period of 30 days from the date of issue of shares to a person resident outside India. | 60,000,000 | 2,058,200 | |
| 205 | Wirintco Technologies Pvt Ltd | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 9 days to 1 months 28 days | Delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. | The activity undertaken by the company is to carry on the business of information technology and telecommunication (software, firmware and hardware) in India and abroad. The company allotted equity shares and filed FC-GPRs with RBI. The applicant filed the Form FC-GPRs on allotment of shares with the Bengaluru Regional Office of the Reserve Bank of India beyond the period of 30 days from the date of issue of shares to a person resident outside India. | 44,993,930 | 17,300 | |
| 206 | Mangalore Internet City Pvt Ltd | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 21 days to 2 years 8 months | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The company is engaged in the business of construction and maintenance of buildings. The applicant received funds towards share application money from several foreign investors. Out of full remittance, part remittances were not reported to Bangalore Regional Office of RBI within 30 days from the date of receipt of consideration. Further, the applicant alloted equity shares and file form FC-GPRs to RBI beyond the period of 30 days from the date of issue of shares to a person resident outside India. | 166,677,000 | 192,900 | |
| 207 | Mangalore Internet City Pvt Ltd | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 15 days to 2 years 2 months 26 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The company is engaged in the business of construction and maintenance of buildings. The applicant received funds towards share application money from several foreign investors. Out of full remittance, part remittances were not reported to Bangalore Regional Office of RBI within 30 days from the date of receipt of consideration. Further, the applicant alloted equity shares and file form FC-GPRs to RBI beyond the period of 30 days from the date of issue of shares to a person resident outside India. | 227,406,000 | 192,900 | |
| 208 | Janalakshmi Financial Services Limited | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 2 days to 3 months and 14 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The activity undertaken by the company is providing financial services to urban and rural poor, as a non- Banking Financial Company as permitted by Reserve Bank from time to time. The applicant received funds towards share application money from various foreign investors viz. M/s Lok Capital LLC, Mauritius, Michael and Susan Dell Foundation, USA, Tree Line Asia Master fund (Singapore) Pte.Ltd., Singapore, CVC IGP II Employee Rosehill Ltd., Mauritius, India Financial Inclusion Fund, Mauritius, Gawa Microfinance Fund, Luxembourg, Alpha TC Holdings Pte. Ltd., MSPEA Platinum Pte Ltd., Singapore, Global Financial Inclusion Fund, Luxembourg and TPG Asia VI SF Pte Ltd., Singapore. Out of full remittance, part remittances were not reported to Bangalore Regional Office of RBI within 30 days from the date of receipt of consideration. Further, the applicant alloted equity shares and file form FC-GPRs to RBI beyond the period of 30 days from the date of issue of shares to a person resident outside India. | 2,639,957,868 | 164,300 | |
| 209 | Janalakshmi Financial Services Limited | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 1 months 3 days to 8 months 19 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The activity undertaken by the company is providing financial services to urban and rural poor, as a non- Banking Financial Company as permitted by Reserve Bank from time to time. The applicant received funds towards share application money from various foreign investors viz. M/s Lok Capital LLC, Mauritius, Michael and Susan Dell Foundation, USA, Tree Line Asia Master fund (Singapore) Pte.Ltd., Singapore, CVC IGP II Employee Rosehill Ltd., Mauritius, India Financial Inclusion Fund, Mauritius, Gawa Microfinance Fund, Luxembourg, Alpha TC Holdings Pte. Ltd., MSPEA Platinum Pte Ltd., Singapore, Global Financial Inclusion Fund, Luxembourg and TPG Asia VI SF Pte Ltd., Singapore. Out of full remittance, part remittances were not reported to Bangalore Regional Office of RBI within 30 days from the date of receipt of consideration. Further, the applicant alloted equity shares and file form FC-GPRs to RBI beyond the period of 30 days from the date of issue of shares to a person resident outside India. | 189,988,800 | 164,300 | |
| 210 | Henson Enterprises Pvt Ltd | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 3 days to 7 months 14 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is engaged in the business of manufacture of degreasing solution. The applicant received foreign inward remittance from (i) M/s Apple Environment Engineering Associates Ltd, United Kingdom, (ii) M/s Advanced Ceramics Ltd, United Kingdom and (iii) Dr.Ronald Henson, United Kingdom towards subscription to equity shares and reported the same to the Reserve Bank. Out of full remittance, part remittances were not reported to RBI within 30 days from the date of receipt of consideration. Further, the applicant alloted equity shares and file form FC-GPRs to RBI beyond the period of 30 days from the date of issue of shares to a person resident outside India. | 3,609,077 | 39,910 | |
| 211 | Henson Enterprises Pvt Ltd | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 1 days to 7 years 11 months 22 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is engaged in the business of manufacture of degreasing solution. The applicant received foreign inward remittance from (i) M/s Apple Environment Engineering Associates Ltd, United Kingdom, (ii) M/s Advanced Ceramics Ltd, United Kingdom and (iii) Dr.Ronald Henson, United Kingdom towards subscription to equity shares and reported the same to the Reserve Bank. Out of full remittance, part remittances were not reported to RBI within 30 days from the date of receipt of consideration. Further, the applicant alloted equity shares and file form FC-GPRs to RBI beyond the period of 30 days from the date of issue of shares to a person resident outside India. | 1,695,810 | 39,910 | |
| 212 | ETA General Pvt Ltd. | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 13 years 8 months 13 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is engaged in Business of Manufacture of Air-conditioners and spare parts of Air-conditioners. The applicant received foreign inward remittance from (i) M/s. Electromechanical Technical Associates Ltd., Mauritius, (ii) M/s. Engineering Maintenance Co. LLC, Dubai, (iii) Shri.S.M.Salahuddin, Dubai,(iv) Shri.M.M. Mohiuddin, Dubai, (v) Shri.A.K.Agarwal, Dubai, (vi) M/s.Fujitsu General Ltd, Japan and (vii) M/s.Fujitsu General (Asia) Pte Ltd., Singapore towards subscription to equity shares and reported the same to the Reserve Bank.Out of full remittance, part remittances were not reported to RBI within 30 days from the date of receipt of consideration. Further, the applicant alloted equity shares and file form FC-GPRs to RBI beyond the period of 30 days from the date of issue of shares to a person resident outside India. | 199,679,680 | 4,455,150 | |
| 213 | ETA General Pvt Ltd. | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 2 months 23 days to 13 years 3 months 21 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is engaged in Business of Manufacture of Air-conditioners and spare parts of Air-conditioners. The applicant received foreign inward remittance from (i) M/s. Electromechanical Technical Associates Ltd., Mauritius, (ii) M/s. Engineering Maintenance Co. LLC, Dubai, (iii) Shri.S.M.Salahuddin, Dubai,(iv) Shri.M.M. Mohiuddin, Dubai, (v) Shri.A.K.Agarwal, Dubai, (vi) M/s.Fujitsu General Ltd, Japan and (vii) M/s.Fujitsu General (Asia) Pte Ltd., Singapore towards subscription to equity shares and reported the same to the Reserve Bank.Out of full remittance, part remittances were not reported to RBI within 30 days from the date of receipt of consideration. Further, the applicant alloted equity shares and file form FC-GPRs to RBI beyond the period of 30 days from the date of issue of shares to a person resident outside India. | 199,679,680 | 4,455,150 | |
| 214 | Tempel Precision Metal Products India Private Limited | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 2 days to 3 years 11 months 21 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares(ii) delay in submission of form FCGPR for allotment of shares.(iii) delay in allotment of shares beyond the prescribed period of 180 days. | The applicant company is is engaged in Business of Manufacturing of Steel Laminations. The applicant received foreign inward remittance from M/s. Tempel Steel Company, USA towards subscription to equity shares and reported the same to the Reserve Bank. Out of full remittance, part remittances were not reported to RBI within 30 days from the date of receipt of consideration. Further, the applicant alloted equity shares and file form FC-GPRs to RBI beyond the period of 30 days from the date of issue of shares to a person resident outside India.It was observed that the applicant company allotted shares amounting to ₹ 23,25,400/- against four inward remittances received between 20.01.2006 and 10.02.2006 without prior approval of RBI after the stipulated period of 180 days. | 328,224,579 | 189,703 | |
| 215 | Tempel Precision Metal Products India Private Limited | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 2 days to 3 years 10 months 22 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares(ii) delay in submission of form FCGPR for allotment of shares.(iii) delay in allotment of shares beyond the prescribed period of 180 days. | The applicant company is is engaged in Business of Manufacturing of Steel Laminations. The applicant received foreign inward remittance from M/s. Tempel Steel Company, USA towards subscription to equity shares and reported the same to the Reserve Bank. Out of full remittance, part remittances were not reported to RBI within 30 days from the date of receipt of consideration. Further, the applicant alloted equity shares and file form FC-GPRs to RBI beyond the period of 30 days from the date of issue of shares to a person resident outside India.It was observed that the applicant company allotted shares amounting to ₹ 23,25,400/- against four inward remittances received between 20.01.2006 and 10.02.2006 without prior approval of RBI after the stipulated period of 180 days. | 182,442,300 | 189,703 | |
| 216 | Tempel Precision Metal Products India Private Limited | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of allotment of shares in prescribed period without approval of Rbi | 2 years 4 months 2 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares(ii) delay in submission of form FCGPR for allotment of shares.(iii) delay in allotment of shares beyond the prescribed period of 180 days. | The applicant company is is engaged in Business of Manufacturing of Steel Laminations. The applicant received foreign inward remittance from M/s. Tempel Steel Company, USA towards subscription to equity shares and reported the same to the Reserve Bank. Out of full remittance, part remittances were not reported to RBI within 30 days from the date of receipt of consideration. Further, the applicant alloted equity shares and file form FC-GPRs to RBI beyond the period of 30 days from the date of issue of shares to a person resident outside India.It was observed that the applicant company allotted shares amounting to ₹ 23,25,400/- against four inward remittances received between 20.01.2006 and 10.02.2006 without prior approval of RBI after the stipulated period of 180 days. | 2,325,400 | 189,703 | |
| 217 | New Kovai Real Estate Pvt Ltd. | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 2 months 3 days to 2 months 12 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is engaged in Business of Development of townships and serviced plots. The applicant received foreign inward remittance from M/s. Skyngelor Ltd, Cyprus towards subscription to equity shares and reported the same to the Reserve Bank later than 30 days from the date of receipt of the amount of consideration.. Further, the applicant alloted equity shares and file form FC-GPRs to RBI beyond the period of 30 days from the date of issue of shares to a person resident outside India. | 214,004,320 | 83,250 | |
| 218 | New Kovai Real Estate Pvt Ltd. | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 2 months to 2 months 5 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is engaged in Business of Development of townships and serviced plots. The applicant received foreign inward remittance from M/s. Skyngelor Ltd, Cyprus towards subscription to equity shares and reported the same to the Reserve Bank later than 30 days from the date of receipt of the amount of consideration.. Further, the applicant alloted equity shares and file form FC-GPRs to RBI beyond the period of 30 days from the date of issue of shares to a person resident outside India. | 213,996,000 | 83,250 | |
| 219 | Vidhya Sriram | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-TRS | 3 years 3 months and 10 days | (i) Delay in Filing from FCTRS with the Authorised Dealer within stipulated period | The applicant had transferred 2235 equity shares and 53 compulsorily convertible preference shares to a Non Resident company, M/s.Al Nasser Industrial Enterprises LLC, Abu Dhabi, UAE. The applicant had received two inward remittances of ₹ 53,12,354/- and ₹ 21,074/- on 19.01.2011 and 20.01.2011 respectively from the non-resident buyer and transferred 2235 equity shares and 53 compulsorily convertible preference shares of M/s PS Electricals Pvt Ltd to the Non Resident Buyer on 20.01.2011. The applicant reported the transfer in form FC-TRS to the Authorised Dealer bank on 03.07.2014 after expiry of 60 days from the date of receipt of the amount of consideration. | 5,324,600 | 33,310 | |
| 220 | Nirmala Srinivasan | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-TRS | 3 years 3 months and 10 days | (i) Delay in Filing from FCTRS with the Authorised Dealer within stipulated period | The applicant had transferred 3149 equity shares and 15 compulsorily convertible preference shares to a Non Resident company, M/s.Al Nasser Industrial Enterprises LLC, Abu Dhabi, UAE.The applicant had received two inward remittances of ₹ 74,79,323/- and ₹ 24,699/- on 19.01.2011 and 20.01.2011 respectively from the non-resident buyer and transferred 3149 equity shares and 15 compulsorily convertible preference shares of M/s PS Electricals Pvt Ltd to the Non Resident Buyer on 20.01.2011. The applicant reported the transfer in form FC-TRS to the Authorised Dealer bank on 03.07.2014 after expiry of 60 days from the date of receipt of the amount of consideration. | 7,496,120 | 33,310 | |
| 221 | Maitreyi Resorts Pvt Ltd. | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 13 days to 14 years 11 months 9 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares(ii) delay in submission of form FCGPR for allotment of shares.(iii) delay in allotment of shares beyond the prescribed period of 180 days. | The applicant company is engaged in Business of Hotels and Motels, inns, resorts providing short term lodging facilities; includes accommodation in house boats. The applicant received foreign inward remittances from 19 foreign individuals towards subscription to equity shares and reported the same to the Reserve Bank. The applicant reported receipt of remittances to the Reserve Bank beyond the stipulated time of 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs. The applicant filed form FC-GPRs and reported to RBI beyond 30 days from the date of issue of shares to person resident outside India. The applicant allotted sharesbeyond the prescribed limit in respect of remittances without approval from Reserve Bank. | 33,658,064 | 1,071,224 | |
| 222 | Maitreyi Resorts Pvt Ltd. | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 1 days to 15 years 1 months 26 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares(ii) delay in submission of form FCGPR for allotment of shares.(iii) delay in allotment of shares beyond the prescribed period of 180 days. | The applicant company is engaged in Business of Hotels and Motels, inns, resorts providing short term lodging facilities; includes accommodation in house boats. The applicant received foreign inward remittances from 19 foreign individuals towards subscription to equity shares and reported the same to the Reserve Bank. The applicant reported receipt of remittances to the Reserve Bank beyond the stipulated time of 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs. The applicant filed form FC-GPRs and reported to RBI beyond 30 days from the date of issue of shares to person resident outside India. The applicant allotted sharesbeyond the prescribed limit in respect of remittances without approval from Reserve Bank. | 51,770,545 | 1,071,224 | |
| 223 | Maitreyi Resorts Pvt Ltd. | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of allotment of shares in prescribed period | 6 days to 1 years 3 months 21 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares(ii) delay in submission of form FCGPR for allotment of shares.(iii) delay in allotment of shares beyond the prescribed period of 180 days. | The applicant company is engaged in Business of Hotels and Motels, inns, resorts providing short term lodging facilities; includes accommodation in house boats. The applicant received foreign inward remittances from 19 foreign individuals towards subscription to equity shares and reported the same to the Reserve Bank. The applicant reported receipt of remittances to the Reserve Bank beyond the stipulated time of 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs. The applicant filed form FC-GPRs and reported to RBI beyond 30 days from the date of issue of shares to person resident outside India. The applicant allotted sharesbeyond the prescribed limit in respect of remittances without approval from Reserve Bank. | 12,916,015 | 1,071,224 | |
| 224 | Fanar Foods Pvt Ltd. | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 11 months 22 days to 4 years 8 months | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares(ii) delay in submission of form FCGPR for allotment of shares.(iii) delay in allotment of shares beyond the prescribed period of 180 days. | The applicant company is is engaged in Business of providing service to all facts of food industry, namely in the fields of Food Engineering, Food ingredients and food refrigeration. The applicant received foreign inward remittances from Mr.Ravi Dube and Mrs. Sujata Dube, UAE towards subscription to equity shares and reported the same to the Reserve Bank later than 30 days from the date of receipt of the amount of consideration. The company allotted equity shares and filed FC-GPRs. Further the applicant submitted to Reserve Bank a report in Form FC-GPR along with documents prescribed therein beyond 30 days from the date of issue of shares to person resident outside India.The company allotted 10000 shares of Rs. 10/- each towards subscription to MoA on 25.10.2010 but the part remittance of ₹ 50,000/- towards the same was received on 10.03.2011 beyond 180 days from the date of receipt of the inward remittance, the company had allotted shares to the non-resident investor prior to the receipt of inward remittance. | 8,999,542 | 72,510 | |
| 225 | Fanar Foods Pvt Ltd. | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 1 months 13 days to 4 years 9 months 9 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares(ii) delay in submission of form FCGPR for allotment of shares.(iii) delay in allotment of shares beyond the prescribed period of 180 days. | The applicant company is is engaged in Business of providing service to all facts of food industry, namely in the fields of Food Engineering, Food ingredients and food refrigeration. The applicant received foreign inward remittances from Mr.Ravi Dube and Mrs. Sujata Dube, UAE towards subscription to equity shares and reported the same to the Reserve Bank later than 30 days from the date of receipt of the amount of consideration. The company allotted equity shares and filed FC-GPRs. Further the applicant submitted to Reserve Bank a report in Form FC-GPR along with documents prescribed therein beyond 30 days from the date of issue of shares to person resident outside India.The company allotted 10000 shares of Rs. 10/- each towards subscription to MoA on 25.10.2010 but the part remittance of ₹ 50,000/- towards the same was received on 10.03.2011 beyond 180 days from the date of receipt of the inward remittance, the company had allotted shares to the non-resident investor prior to the receipt of inward remittance. | 9,888,860 | 72,510 | |
| 226 | Fanar Foods Pvt Ltd. | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of allotment of shares in prescribed period | (i) 11 months 22 days to 4 years 8 months (ii) 1 month 13 days to 4 years 9 months 9 days (iii) 4 months 13 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares(ii) delay in submission of form FCGPR for allotment of shares.(iii) delay in allotment of shares beyond the prescribed period of 180 days. | The applicant company is is engaged in Business of providing service to all facts of food industry, namely in the fields of Food Engineering, Food ingredients and food refrigeration. The applicant received foreign inward remittances from Mr.Ravi Dube and Mrs. Sujata Dube, UAE towards subscription to equity shares and reported the same to the Reserve Bank later than 30 days from the date of receipt of the amount of consideration. The company allotted equity shares and filed FC-GPRs. Further the applicant submitted to Reserve Bank a report in Form FC-GPR along with documents prescribed therein beyond 30 days from the date of issue of shares to person resident outside India.The company allotted 10000 shares of Rs. 10/- each towards subscription to MoA on 25.10.2010 but the part remittance of ₹ 50,000/- towards the same was received on 10.03.2011 beyond 180 days from the date of receipt of the inward remittance, the company had allotted shares to the non-resident investor prior to the receipt of inward remittance. | 50,000 | 72,510 | |
| 227 | AEG Solar India Pvt. Ltd | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in receipt of consideration towards issue of shares. | 8 months 7 days | (i) Delay in submission of form FCGPRs(ii) delay in receipt of consideration towards issue of shares | The company is engaged in the business of providing services in financial, accounting, business management, taxation, auditing and back end services to companies registered in India. The company allotted equity shares and filed Form FC-GPRs to RBI beyond the 30 days from the date of issue of shares to person resident outside India.The company delayed in receipt of consideration for allotment of shares | 99,000 | 14,850 | |
| 228 | AEG Solar India Pvt. Ltd | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 10 months 03 days | (i) Delay in submission of form FCGPRs(ii) delay in receipt of consideration towards issue of shares. | The company is engaged in the business of providing services in financial, accounting, business management, taxation, auditing and back end services to companies registered in India. The company allotted equity shares and filed Form FC-GPRs to RBI beyond the 30 days from the date of issue of shares to person resident outside India.The company delayed in receipt of consideration for allotment of shares | 99,000 | 14,850 | |
| 229 | TEP Solar India Pvt. Ltd. | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in refunding the share application money to the non-resident remitter / investor beyond the prescribed period of 180 days with approval of RBI | 1 years 6 months 26 days to 1 years 9 months 21 days | (i)Delay in refund of share application money beyond the period of 180 days from the date of receipt of the inward remittance with the approval of RBI.(ii) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (iii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The company is engaged in the business of generation of solar energy. The applicant had received foreign inward remittances from overseas investors towards advance for subscription to equity shares. The applicant reported receipt of remittances towards share subscription amounting to ₹ 8,77,06,906/- to the Regional Office of Reserve Bank of India and remittances amounting to ₹ 2,55,63,264/- was reported later than 30 days from the date of receipt of the amount of consideration. the applicant alloted shares and filed form FC-GPRs. The applicant filed Form FC-GPRs for the allotment of shares amounting to ₹ 5, 44, 39,970/- beyond 30 days from the date of issue of shares to person resident outside India. Further, The company delayed in allotment of shares beyond the stipulated period of 180 days from the date of receipt of inward remittances | 7,499,380 | 150,000 | |
| 230 | TEP Solar India Pvt. Ltd. | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 5 months 26 days to 10 months 15 days | (i)Delay in refund of share application money beyond the period of 180 days from the date of receipt of the inward remittance with the approval of RBI.(ii) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (iii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The company is engaged in the business of generation of solar energy. The applicant had received foreign inward remittances from overseas investors towards advance for subscription to equity shares. The applicant reported receipt of remittances towards share subscription amounting to ₹ 8,77,06,906/- to the Regional Office of Reserve Bank of India and remittances amounting to ₹ 2,55,63,264/- was reported later than 30 days from the date of receipt of the amount of consideration. the applicant alloted shares and filed form FC-GPRs. The applicant filed Form FC-GPRs for the allotment of shares amounting to ₹ 5, 44, 39,970/- beyond 30 days from the date of issue of shares to person resident outside India. Further, The company delayed in allotment of shares beyond the stipulated period of 180 days from the date of receipt of inward remittances | 25,563,264 | 150,000 | |
| 231 | TEP Solar India Pvt. Ltd. | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 1 days to 5 months 6 days | (i)Delay in refund of share application money beyond the period of 180 days from the date of receipt of the inward remittance with the approval of RBI.(ii) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (iii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The company is engaged in the business of generation of solar energy. The applicant had received foreign inward remittances from overseas investors towards advance for subscription to equity shares. The applicant reported receipt of remittances towards share subscription amounting to ₹ 8,77,06,906/- to the Regional Office of Reserve Bank of India and remittances amounting to ₹ 2,55,63,264/- was reported later than 30 days from the date of receipt of the amount of consideration. the applicant alloted shares and filed form FC-GPRs. The applicant filed Form FC-GPRs for the allotment of shares amounting to ₹ 5, 44, 39,970/- beyond 30 days from the date of issue of shares to person resident outside India. Further, The company delayed in allotment of shares beyond the stipulated period of 180 days from the date of receipt of inward remittances | 54,439,970 | 150,000 | |
| 232 | Harsco India Pvt. Ltd. | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in refunding the share application money to the non-resident remitter / investor beyond the prescribed period of 180 days with approval of RBI | Iua 1(a)-1 days to 7 months 26 days (i)(b)-29 days to 2 months 14 days | (i)(a)Delay in refund of share application money beyond the period of 180 days from the date of receipt of the inward remittance with the approval of RBI.(b) Delay in receipt of shares after issue of shares(ii) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (iii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The company is engaged in the activity of undertaking materials recovery i.e. slag handling and slag processing services in steel mills.The applicant had received foreign inward remittances from overseas investors towards advance for subscription to equity shares. The applicant reported receipt of remittances towards share subscription amounting to ₹ 81,29,42,266.82/- to the Regional Office of Reserve Bank of India and remittances amounting to ₹ 25,56,49,786.82/- was reported later than 30 days from the date of receipt of the amount of consideration. The applicant filed Form FC-GPRs for the allotment of shares amounting to ₹ 73, 34, 20,341/-. Further submitted form FC-GPRs to RBI beyond 30 days from the date of issue of shares to person resident outside India.The company delayed in allotment of shares beyond the stipulated period of 180 days from the date of receipt of inward remittances and allotted shares without approval of RBI. | (i) 42,38,25,992 (ii) 81,00,000 | 2,245,000 | |
| 233 | Harsco India Pvt. Ltd. | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 3 months 18 days to 2 years 8 months 7 days | (i)Delay in refund of share application money beyond the period of 180 days with the approval of RBI.(ii) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (iii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The company is engaged in the activity of undertaking materials recovery i.e. slag handling and slag processing services in steel mills.The applicant had received foreign inward remittances from overseas investors towards advance for subscription to equity shares. The applicant reported receipt of remittances towards share subscription amounting to ₹ 81,29,42,266.82/- to the Regional Office of Reserve Bank of India and remittances amounting to ₹ 25,56,49,786.82/- was reported later than 30 days from the date of receipt of the amount of consideration. The applicant filed Form FC-GPRs for the allotment of shares amounting to ₹ 73, 34, 20,341/-. Further submitted form FC-GPRs to RBI beyond 30 days from the date of issue of shares to person resident outside India.The company delayed in allotment of shares beyond the stipulated period of 180 days from the date of receipt of inward remittances and allotted shares without approval of RBI. | 255,649,786 | 2,245,000 | |
| 234 | Harsco India Pvt. Ltd. | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 1 days to 1 years 9 months 16 days | (i)Delay in refund of share application money beyond the period of 180 days with the approval of RBI.(ii) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (iii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The company is engaged in the activity of undertaking materials recovery i.e. slag handling and slag processing services in steel mills.The applicant had received foreign inward remittances from overseas investors towards advance for subscription to equity shares. The applicant reported receipt of remittances towards share subscription amounting to ₹ 81,29,42,266.82/- to the Regional Office of Reserve Bank of India and remittances amounting to ₹ 25,56,49,786.82/- was reported later than 30 days from the date of receipt of the amount of consideration. The applicant filed Form FC-GPRs for the allotment of shares amounting to ₹ 73, 34, 20,341/-. Further submitted form FC-GPRs to RBI beyond 30 days from the date of issue of shares to person resident outside India.The company delayed in allotment of shares beyond the stipulated period of 180 days from the date of receipt of inward remittances and allotted shares without approval of RBI. | 733,420,341 | 2,245,000 | |
| 235 | Sainath International Pvt. Ltd. | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 3 years 3 months 7 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The main objective of the applicant is to carry out business in wholesale trade of cereals and pulses. The applicant received foreign inward remittances towards subscription to equity shares. The applicant received four inward remittance out of which on eremittance was reported to RBI beyond the period of 30 dayas from the date of receipt of consideration. Further, The applicant allotted equity shares for a face value of Rs.10/- per share and filed FC-GPR. The applicant submitted Form FC-GPRs to RBI beyond the period of 30 days from the date of issue of shares to person resident outside India. | 14,938,257 | 249,000 | |
| 236 | Sainath International Pvt. Ltd. | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 1 years 4 months 14 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The main objective of the applicant is to carry out business in wholesale trade of cereals and pulses. The applicant received foreign inward remittances towards subscription to equity shares. The applicant received four inward remittance out of which on eremittance was reported to RBI beyond the period of 30 dayas from the date of receipt of consideration. Further, The applicant allotted equity shares for a face value of Rs.10/- per share and filed FC-GPR. The applicant submitted Form FC-GPRs to RBI beyond the period of 30 days from the date of issue of shares to person resident outside India. | 57,729,000 | 249,000 | |
| 237 | TCG Software Services Pvt Ltd | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 13 months 25 days to 14 months | Delay in submission of form FCFCGPRS beyond the stipulated period of time | The main objective of the applicant is software development, providing software services and consultancy to clients. The applicant received foreign inward remittances towards subscription to equity shares. The company allotted equity shares/preference shares/convertible preference shares and filed FC-GPRs beyond 30 days from the date of issue of shares to person resident outside India. | 10,943,100 | 25,750 | |
| 238 | China Petroleum Pipeline Bureau India Pvt. Ltd. | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 20 days to 10 months and 5 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is engaged in India and abroad in the business of Project Management Consulting (PMC), survey, Engineer Procure Construct (EPC) general contracting and operation of crude oil tank, liquefied petroleum gas(LPG) Liquefied natural gas (LNG), offshore petroleum engineering, oil field surface facilities, gathering pipelines, refining facility installation, long distance pipelines, stations and valve chambers for transmission of oil, natural gas, coalbed methane, water and etc., equipment and machinery related to construction projects. The applicant received foreign inward remittance from M/s China Petroleum Pipeline Bureau, China and M/s China Petroleum Pipeline Inspection Technologies Co. Ltd., China, towards equity / preference share capital and reported the same to the Reserve Bank beyond the period of 30 days the date of receipt of the amount of consideration. The company allotted equity shares/preference shares/convertible preference shares and filed FC-GPRs beyond 30 days from the date of issue of shares to person resident outside India. | 215,682,798 | 220,000 | |
| 239 | China Petroleum Pipeline Bureau India Pvt. Ltd. | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 9 months 5 days to 1 years 1 months and 27 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is engaged in India and abroad in the business of Project Management Consulting (PMC), survey, Engineer Procure Construct (EPC) general contracting and operation of crude oil tank, liquefied petroleum gas(LPG) Liquefied natural gas (LNG), offshore petroleum engineering, oil field surface facilities, gathering pipelines, refining facility installation, long distance pipelines, stations and valve chambers for transmission of oil, natural gas, coalbed methane, water and etc., equipment and machinery related to construction projects. The applicant received foreign inward remittance from M/s China Petroleum Pipeline Bureau, China and M/s China Petroleum Pipeline Inspection Technologies Co. Ltd., China, towards equity / preference share capital and reported the same to the Reserve Bank beyond the period of 30 days the date of receipt of the amount of consideration. The company allotted equity shares/preference shares/convertible preference shares and filed FC-GPRs beyond 30 days from the date of issue of shares to person resident outside India. | 215,654,700 | 220,000 | |
| 240 | E M Improvement India Pvt. Ltd. | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in refunding the share application money to the non-resident remitter / investor beyond the prescribed period of 180 days with approval of RBI | 5 months to 3 years and 10 months | (i)Delay in refund of share application money beyond the period of 180 days with the approval of RBI.(ii) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (iii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is engaged in India and abroad in the business of Trading, Buying, Selling, Importing, Exporting, Distributing, Manufacturing, Dealing in and providing Services relating to Industrial Safety, Industrial and Consumer Products and Equipment, Infrastructure Equipment, Electronics and other equipments and providing all kinds of Services to all or any Parties or Prospective Parties to any other Contract or other Agreement. The applicant received foreign inward remittance from Mr. Menachem Bacharach, Israel and Mrs. Adella Bacharach, Israel towards equity / preference share capital and reported the same to the Reserve Bank beyond the period of 30 days the date of receipt of the amount of consideration. The company allotted equity shares/preference shares/convertible preference shares and filed FC-GPRs beyond 30 days from the date of issue of shares to person resident outside India. The allotment of shares made on July 05, 2011 amounting to Rs.25,00,000/- was made before the receipt of inward remittance for subscription towards Memorandum of Association without the approval of Reserve Bank. | 2,500,000 | 79,967 | |
| 241 | E M Improvement India Pvt. Ltd. | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 11 days to 3 years and 13 days | (i)Delay in refund of share application money beyond the period of 180 days with the approval of RBI.(ii) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (iii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is engaged in India and abroad in the business of Trading, Buying, Selling, Importing, Exporting, Distributing, Manufacturing, Dealing in and providing Services relating to Industrial Safety, Industrial and Consumer Products and Equipment, Infrastructure Equipment, Electronics and other equipments and providing all kinds of Services to all or any Parties or Prospective Parties to any other Contract or other Agreement. The applicant received foreign inward remittance from Mr. Menachem Bacharach, Israel and Mrs. Adella Bacharach, Israel towards equity / preference share capital and reported the same to the Reserve Bank beyond the period of 3o days the date of receipt of the amount of consideration. The company allotted equity shares/preference shares/convertible preference shares and filed FC-GPRs beyond 30 days from the date of issue of shares to person resident outside India. The allotment of shares made on July 05, 2011 amounting to Rs.25,00,000/- was made before the receipt of inward remittance for subscription towards Memorandum of Association without the approval of Reserve Bank. | 2,505,469 | 79,967 | |
| 242 | E M Improvement India Pvt. Ltd. | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 2 years 5 months 9 days to 3 years 7 months and 9 days | (i)Delay in refund of share application money beyond the period of 180 days with the approval of RBI.(ii) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (iii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is engaged in India and abroad in the business of Trading, Buying, Selling, Importing, Exporting, Distributing, Manufacturing, Dealing in and providing Services relating to Industrial Safety, Industrial and Consumer Products and Equipment, Infrastructure Equipment, Electronics and other equipments and providing all kinds of Services to all or any Parties or Prospective Parties to any other Contract or other Agreement. The applicant received foreign inward remittance from Mr. Menachem Bacharach, Israel and Mrs. Adella Bacharach, Israel towards equity / preference share capital and reported the same to the Reserve Bank beyond the period of 3o days the date of receipt of the amount of consideration. The company allotted equity shares/preference shares/convertible preference shares and filed FC-GPRs beyond 30 days from the date of issue of shares to person resident outside India. The allotment of shares made on July 05, 2011 amounting to Rs.25,00,000/- was made before the receipt of inward remittance for subscription towards Memorandum of Association without the approval of Reserve Bank. | 2,500,000 | 79,967 | |
| 243 | Visa Managed Service (India) Pvt. Ltd. | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in refunding the share application money to the non-resident remitter / investor beyond the prescribed period of 180 days with approval of RBI | 10 months and 20 days | (i)Delay in refund of share application money beyond the period of 180 days with the approval of RBI.(ii) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (iii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is engaged in the business to carry out, offer and provide in India and anywhere else in the world payment processing services, consumer and business support services, to provide technology development and business process outsourcing services to related companies, provide IT-enabled services and solutions in the areas of e-commerce, payments on a mobile device, money transfer service, mobile banking, m-commerce, mobile wallets, managed services support, merchant support services and prepaid payment technology services, communication based products and services, chips design, data processing, call center services, data conversion and communication services and to provide consultancy and advisory services in related areas. The applicant received foreign inward remittance from M/s VisaWorldwide Pte. Limited, Singapore towards equity / preference share capital and reported the same to the Reserve Bank beyond the period of 3o days the date of receipt of the amount of consideration. The company allotted equity shares/preference shares/convertible preference shares and filed FC-GPRs beyond 30 days from the date of issue of shares to person resident outside India.The allotment of shares made on September 18, 2012 amounting to Rs.1,00,000/- was made before the receipt of inward remittance for subscription towards Memorandum of Association without the approval of Reserve Bank. | 100,000 | 202,300 | |
| 244 | Visa Managed Service (India) Pvt. Ltd. | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 3 months 4 days to 5 months and 6 days | (i)Delay in refund of share application money beyond the period of 180 days with the approval of RBI.(ii) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (iii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is engaged in the business to carry out, offer and provide in India and anywhere else in the world payment processing services, consumer and business support services, to provide technology development and business process outsourcing services to related companies, provide IT-enabled services and solutions in the areas of e-commerce, payments on a mobile device, money transfer service, mobile banking, m-commerce, mobile wallets, managed services support, merchant support services and prepaid payment technology services, communication based products and services, chips design, data processing, call center services, data conversion and communication services and to provide consultancy and advisory services in related areas. The applicant received foreign inward remittance from M/s VisaWorldwide Pte. Limited, Singapore towards equity / preference share capital and reported the same to the Reserve Bank beyond the period of 3o days the date of receipt of the amount of consideration. The company allotted equity shares/preference shares/convertible preference shares and filed FC-GPRs beyond 30 days from the date of issue of shares to person resident outside India.The allotment of shares made on September 18, 2012 amounting to Rs.1,00,000/- was made before the receipt of inward remittance for subscription towards Memorandum of Association without the approval of Reserve Bank. | 54,899,999 | 202,300 | |
| 245 | Visa Managed Service (India) Pvt. Ltd. | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 20 days to 1 years 9 months and 17 days | (i)Delay in refund of share application money beyond the period of 180 days with the approval of RBI.(ii) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (iii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is engaged in the business to carry out, offer and provide in India and anywhere else in the world payment processing services, consumer and business support services, to provide technology development and business process outsourcing services to related companies, provide IT-enabled services and solutions in the areas of e-commerce, payments on a mobile device, money transfer service, mobile banking, m-commerce, mobile wallets, managed services support, merchant support services and prepaid payment technology services, communication based products and services, chips design, data processing, call center services, data conversion and communication services and to provide consultancy and advisory services in related areas. The applicant received foreign inward remittance from M/s VisaWorldwide Pte. Limited, Singapore towards equity / preference share capital and reported the same to the Reserve Bank beyond the period of 3o days the date of receipt of the amount of consideration. The company allotted equity shares/preference shares/convertible preference shares and filed FC-GPRs beyond 30 days from the date of issue of shares to person resident outside India.The allotment of shares made on September 18, 2012 amounting to Rs.1,00,000/- was made before the receipt of inward remittance for subscription towards Memorandum of Association without the approval of Reserve Bank. | 102,899,970 | 202,300 | |
| 246 | Alpha-Pharma Healthcare India Pvt. Ltd. | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in refunding the share application money to the non-resident remitter / investor beyond the prescribed period of 180 days with approval of RBI | 2 months 25 days to 4 years 9 months and 29 days | (i)Delay in refund of share application money beyond the period of 180 days with the approval of RBI.(ii) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (iii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is engaged in the business to carry on the trade and business of manufacturing, producing, processing, preparing, buying, selling, reselling, importing, exporting, exchanging, distributing, supplying, acting as agents for, and dealing in, all kinds of drugs, medicines, pharmaceuticals, medicinal preparations, chemicals, antibiotics, tranquilizers, diagnostics and intermediates. The applicant received foreign inward remittance from M/s Alpha-Pharma Group Limited, Seychelles and Mr. Jacob Sporon Feidler, Denmark, towards equity / preference share capital and reported the same to the Reserve Bank. Out of the total foreign inward remittances part remittances were reported to RBI beyond the prescribed period of 30 days from the date of receipt of consideration. The applicant alloted shares and filed form FC-GPRs. Few FC-GPRs were file beyond the prescribed period. The allotment of shares made on July 26, 2011 amounting to Rs.30,72,000/- was made after 180 days of receipt of investment without the approval of Reserve Bank. | 4,647,042 | 137,108 | |
| 247 | Alpha-Pharma Healthcare India Pvt. Ltd. | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 6 days to 4 years and 4 days | (i)Delay in refund of share application money beyond the period of 180 days with the approval of RBI.(ii) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (iii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is engaged in the business to carry on the trade and business of manufacturing, producing, processing, preparing, buying, selling, reselling, importing, exporting, exchanging, distributing, supplying, acting as agents for, and dealing in, all kinds of drugs, medicines, pharmaceuticals, medicinal preparations, chemicals, antibiotics, tranquilizers, diagnostics and intermediates. The applicant received foreign inward remittance from M/s Alpha-Pharma Group Limited, Seychelles and Mr. Jacob Sporon Feidler, Denmark, towards equity / preference share capital and reported the same to the Reserve Bank. Out of the total foreign inward remittances part remittances were reported to RBI beyond the prescribed period of 30 days from the date of receipt of consideration. The applicant alloted shares and filed form FC-GPRs. Few FC-GPRs were file beyond the prescribed period. The allotment of shares made on July 26, 2011 amounting to Rs.30,72,000/- was made after 180 days of receipt of investment without the approval of Reserve Bank. | 32,341,031 | 137,108 | |
| 248 | Alpha-Pharma Healthcare India Pvt. Ltd. | Aug/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 18 days to 8 months and 28 days | (i)Delay in refund of share application money beyond the period of 180 days with the approval of RBI.(ii) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (iii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is engaged in the business to carry on the trade and business of manufacturing, producing, processing, preparing, buying, selling, reselling, importing, exporting, exchanging, distributing, supplying, acting as agents for, and dealing in, all kinds of drugs, medicines, pharmaceuticals, medicinal preparations, chemicals, antibiotics, tranquilizers, diagnostics and intermediates. The applicant received foreign inward remittance from M/s Alpha-Pharma Group Limited, Seychelles and Mr. Jacob Sporon Feidler, Denmark, towards equity / preference share capital and reported the same to the Reserve Bank. Out of the total foreign inward remittances part remittances were reported to RBI beyond the prescribed period of 30 days from the date of receipt of consideration. The applicant alloted shares and filed form FC-GPRs. Few FC-GPRs were file beyond the prescribed period. The allotment of shares made on July 26, 2011 amounting to Rs.30,72,000/- was made after 180 days of receipt of investment without the approval of Reserve Bank. | 6,858,000 | 137,108 | |
| 249 | National Petroleum Construction Co. | Sep/2016 | Establishment of BO/LO/PO in India | FEMA 22/2000-RB | Maintenance of Single bank account of multiple contract without obtaining approval of RBI | 11 years | (i) not obtaining prior approval of Reserve Bank of India for maintaining a single bank account in respect of multiple contracts undertaken, (ii) delayed reporting of additional contracts undertaken by the project office to the AD Bank and the concerned Regional Office of the Reserve Bank (iii) delayed submission of Chartered Accountant certificates with the AD Bank. | The applicant is engaged in the business of fabrication and installation of onshore and offshore oil facilities and submarine pipelines. It was granted Reserve Bank of India’s approval to establish a project office at Mumbai on January 15, 1997 to execute a contract awarded by Enron Oil and Gas India Ltd as per the then extant provisions under FERA for setting up of project offices. In the subsequent years, the project office undertook eight additional contracts. Specific approval of the Reserve Bank was given to the applicant for maintaining a common bank account for undertaking two out of eight additional contracts. However, the applicant continued using the same bank account, without taking prior approval of the Reserve Bank, for the remaining six contracts that were awarded to it in the subsequent years.There was delayed reporting of establishment to the concerned RO of the Reserve Bank in respect of three additional contracts undertaken by the applicant. Each project is treated separately with obligation to report the establishment of the project office with details specified therein to the concerned Regional Office, through the AD branch, within two months of establishment of the Project Office. Further the applicant submitted CA Certificates for the years ended March 2006 to 2012 to the AD Bank for the five additional projects undertaken with a delay beyond the stipulated period. | 499,749,449 | 2,836,500 | |
| 250 | National Petroleum Construction Co. | Sep/2016 | Establishment of BO/LO/PO in India | FEMA 22/2000-RB | Delay in reporting of additional contracts to AD Bank | 1 years | (i) not obtaining prior approval of Reserve Bank of India for maintaining a single bank account in respect of multiple contracts undertaken, (ii) delayed reporting of additional contracts undertaken by the project office to the AD Bank and the concerned Regional Office of the Reserve Bank (iii) delayed submission of Chartered Accountant certificates with the AD Bank. | The applicant is engaged in the business of fabrication and installation of onshore and offshore oil facilities and submarine pipelines. It was granted Reserve Bank of India’s approval to establish a project office at Mumbai on January 15, 1997 to execute a contract awarded by Enron Oil and Gas India Ltd as per the then extant provisions under FERA for setting up of project offices. In the subsequent years, the project office undertook eight additional contracts. Specific approval of the Reserve Bank was given to the applicant for maintaining a common bank account for undertaking two out of eight additional contracts. However, the applicant continued using the same bank account, without taking prior approval of the Reserve Bank, for the remaining six contracts that were awarded to it in the subsequent years.There was delayed reporting of establishment to the concerned RO of the Reserve Bank in respect of three additional contracts undertaken by the applicant. Each project is treated separately with obligation to report the establishment of the project office with details specified therein to the concerned Regional Office, through the AD branch, within two months of establishment of the Project Office. Further the applicant submitted CA Certificates for the years ended March 2006 to 2012 to the AD Bank for the five additional projects undertaken with a delay beyond the stipulated period. | 38,010,879,683 | 2,836,500 | |
| 251 | National Petroleum Construction Co. | Sep/2016 | Establishment of BO/LO/PO in India | FEMA 22/2000-RB | Delay in submission of CA certificate with AD bank | 9 years | (i) not obtaining prior approval of Reserve Bank of India for maintaining a single bank account in respect of multiple contracts undertaken, (ii) delayed reporting of additional contracts undertaken by the project office to the AD Bank and the concerned Regional Office of the Reserve Bank (iii) delayed submission of Chartered Accountant certificates with the AD Bank. | The applicant is engaged in the business of fabrication and installation of onshore and offshore oil facilities and submarine pipelines. It was granted Reserve Bank of India’s approval to establish a project office at Mumbai on January 15, 1997 to execute a contract awarded by Enron Oil and Gas India Ltd as per the then extant provisions under FERA for setting up of project offices. In the subsequent years, the project office undertook eight additional contracts. Specific approval of the Reserve Bank was given to the applicant for maintaining a common bank account for undertaking two out of eight additional contracts. However, the applicant continued using the same bank account, without taking prior approval of the Reserve Bank, for the remaining six contracts that were awarded to it in the subsequent years.There was delayed reporting of establishment to the concerned RO of the Reserve Bank in respect of three additional contracts undertaken by the applicant. Each project is treated separately with obligation to report the establishment of the project office with details specified therein to the concerned Regional Office, through the AD branch, within two months of establishment of the Project Office. Further the applicant submitted CA Certificates for the years ended March 2006 to 2012 to the AD Bank for the five additional projects undertaken with a delay beyond the stipulated period. | 38,010,879,683 | 2,836,500 | |
| 252 | Solutions 4 Energy Pvt. Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of inflow of funds received from a person outside India | 2 months 7 days | (i) Delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay beyond 30 days in submission of Form FCGPRs to the Reserve Bank after issue of shares to a person resident outside India and (iii) delay in allotment of shares beyond stipulated period of 180 days and (iv) delay in refund of excess amount after the stipulated 180 days without RBI’s permission | The applicant company is engaged in in carrying on Generation and Distribution of Energy. The applicant company has received total four inflows amounting to ₹1,80,74,250/- from Foreign investors under automatic route and reported the same to Reserve Bank of India. The applicant reported the receipt of four inward remittances, amounting to ₹.180.74 lakh (₹.1,80,74,250/-) to the Ahmedabad Regional Office of the Reserve Bank of India. Out of which, three inflows amounting to ₹1,55,74,250/-were reported well within stipulated period. However, one inflow amounting to ₹25,00,000/- was reported later than 30 days from the date of receipt of the amount of consideration. The applicant has filed four form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to the overseas investor. The shares were allotted for the entire consideration amount of ₹1,80,74,250 beyond stipulated period of 180 days without obtaining prior approval from Reserve Bank of India. | 2,500,000 | 161,365 | |
| 253 | Solutions 4 Energy Pvt. Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 1 months 15 days to 6 years 10 months | (i) Delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay beyond 30 days in submission of Form FCGPRs to the Reserve Bank after issue of shares to a person resident outside India and (iii) delay in allotment of shares beyond stipulated period of 180 days and (iv) delay in refund of excess amount after the stipulated 180 days without RBI’s permission | The applicant company is engaged in in carrying on Generation and Distribution of Energy. The applicant company has received total four inflows amounting to ₹1,80,74,250/- from Foreign investors under automatic route and reported the same to Reserve Bank of India. The applicant reported the receipt of four inward remittances, amounting to ₹.180.74 lakh (₹.1,80,74,250/-) to the Ahmedabad Regional Office of the Reserve Bank of India. Out of which, three inflows amounting to ₹1,55,74,250/-were reported well within stipulated period. However, one inflow amounting to ₹25,00,000/- was reported later than 30 days from the date of receipt of the amount of consideration. The applicant has filed four form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to the overseas investor. The shares were allotted for the entire consideration amount of ₹1,80,74,250 beyond stipulated period of 180 days without obtaining prior approval from Reserve Bank of India. | 18,074,250 | 161,365 | |
| 254 | Solutions 4 Energy Pvt. Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in allotment of shares beyond the prescribed period | 18 days to 11 months 13 days | (i) Delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay beyond 30 days in submission of Form FCGPRs to the Reserve Bank after issue of shares to a person resident outside India and (iii) delay in allotment of shares beyond stipulated period of 180 days and (iv) delay in refund of excess amount after the stipulated 180 days without RBI’s permission | The applicant company is engaged in in carrying on Generation and Distribution of Energy. The applicant company has received total four inflows amounting to ₹1,80,74,250/- from Foreign investors under automatic route and reported the same to Reserve Bank of India. The applicant reported the receipt of four inward remittances, amounting to ₹.180.74 lakh (₹.1,80,74,250/-) to the Ahmedabad Regional Office of the Reserve Bank of India. Out of which, three inflows amounting to ₹1,55,74,250/-were reported well within stipulated period. However, one inflow amounting to ₹25,00,000/- was reported later than 30 days from the date of receipt of the amount of consideration. The applicant has filed four form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to the overseas investor. The shares were allotted for the entire consideration amount of ₹1,80,74,250 beyond stipulated period of 180 days without obtaining prior approval from Reserve Bank of India. | 9,700,000 | 161,365 | |
| 255 | Solutions 4 Energy Pvt. Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in refund of excess share application money to the foreign investor | 18 days to 11 months 13 days | (i) Delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay beyond 30 days in submission of Form FCGPRs to the Reserve Bank after issue of shares to a person resident outside India and (iii) delay in allotment of shares beyond stipulated period of 180 days and (iv) delay in refund of excess amount after the stipulated 180 days without RBI’s permission | The applicant company is engaged in in carrying on Generation and Distribution of Energy. The applicant company has received total four inflows amounting to ₹1,80,74,250/- from Foreign investors under automatic route and reported the same to Reserve Bank of India. The applicant reported the receipt of four inward remittances, amounting to ₹.180.74 lakh (₹.1,80,74,250/-) to the Ahmedabad Regional Office of the Reserve Bank of India. Out of which, three inflows amounting to ₹1,55,74,250/-were reported well within stipulated period. However, one inflow amounting to ₹25,00,000/- was reported later than 30 days from the date of receipt of the amount of consideration. The applicant has filed four form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to the overseas investor. The shares were allotted for the entire consideration amount of ₹1,80,74,250 beyond stipulated period of 180 days without obtaining prior approval from Reserve Bank of India. | 9,700,000 | 161,365 | |
| 256 | TBEA Energy (India) Pvt Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of inflow of funds received from a person outside India | 6 days and 80 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares, and (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The company is engaged in activities of Manufacturing of transformer and reactor, trading of electrical goods and parts of transformer, and providing various services like erection of equipment, civil work, testing. etc. The applicant company has received total twenty seven inflows amounting to ₹5,79,67,93,662/-from Foreign investors under automatic route and reported the same to Reserve Bank of India. Out of which, twenty four inflows amounting to ₹5,24,01,31,180/-were reported within stipulated period. However three inflows amounting to ₹ 55,66,62,482/- were reported later than 30 days from the date of receipt of the amount of consideration. The applicant allotted equity shares and filed FC-GPRs. the applicant has filed twelve form FC-GPRs amounting to ₹5,79,67,93,640/. Out of which, three form FC-FGRs amounting to ₹2,69,76,14,900/-were filed beyond 30 days from the date of issue of shares to the overseas investor. | 556,662,482 | 159,500 | |
| 257 | TBEA Energy (India) Pvt Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 13 to 120 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares, and (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The company is engaged in activities of Manufacturing of transformer and reactor, trading of electrical goods and parts of transformer, and providing various services like erection of equipment, civil work, testing. etc. The applicant company has received total twenty seven inflows amounting to ₹5,79,67,93,662/-from Foreign investors under automatic route and reported the same to Reserve Bank of India. Out of which, twenty four inflows amounting to ₹5,24,01,31,180/-were reported within stipulated period. However three inflows amounting to ₹ 55,66,62,482/- were reported later than 30 days from the date of receipt of the amount of consideration. The applicant allotted equity shares and filed FC-GPRs. the applicant has filed twelve form FC-GPRs amounting to ₹5,79,67,93,640/. Out of which, three form FC-FGRs amounting to ₹2,69,76,14,900/-were filed beyond 30 days from the date of issue of shares to the overseas investor. | 2,697,614,900 | 159,500 | |
| 258 | REELEEZEE Software Services I Pvt. Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of inflow of funds received from a person outside India | 10 to 216 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares, and (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | the company is engaged in activities of Sales and marketing of Reeleezee online accounting software in India. The applicant company has received total fifty three inflows amounting to ₹3,67,42,339/-from Foreign investors under automatic route and reported the same to Reserve Bank of India. The applicant reported the receipt of fifty three inward remittances, amounting to 367.42 lakh (₹3,67,42,339/-) to the Ahmedabad Regional Office of the Reserve Bank of India. Out of which, thirty nine inflows amounting to ₹3,04,56,235/-were reported within stipulated period. However fourteen inflows amounting to ₹ 62,86,104/- were reported later than 30 days from the date of receipt of the amount of consideration.The applicant allotted equity shares and filed FC-GPRs. the applicant has filed twenty form FC-GPRs amounting to ₹3,67,42,339/. Out of which, twelve form FC-FGRs amounting to ₹3,11,06,130/-were filed within stipulated period. However eight form FC-GPRs amounting to ₹ 56,26,200 were filed beyond the prescribed timeline of 30 days from the date of issue of shares to the overseas investor. | 6,286,104 | 26,935 | |
| 259 | REELEEZEE Software Services I Pvt. Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 2 to 184 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares, and (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | the company is engaged in activities of Sales and marketing of Reeleezee online accounting software in India. The applicant company has received total fifty three inflows amounting to ₹3,67,42,339/-from Foreign investors under automatic route and reported the same to Reserve Bank of India. The applicant reported the receipt of fifty three inward remittances, amounting to 367.42 lakh (₹3,67,42,339/-) to the Ahmedabad Regional Office of the Reserve Bank of India. Out of which, thirty nine inflows amounting to ₹3,04,56,235/-were reported within stipulated period. However fourteen inflows amounting to ₹ 62,86,104/- were reported later than 30 days from the date of receipt of the amount of consideration.The applicant allotted equity shares and filed FC-GPRs. the applicant has filed twenty form FC-GPRs amounting to ₹3,67,42,339/. Out of which, twelve form FC-FGRs amounting to ₹3,11,06,130/-were filed within stipulated period. However eight form FC-GPRs amounting to ₹ 56,26,200 were filed beyond the prescribed timeline of 30 days from the date of issue of shares to the overseas investor. | 5,636,200 | 26,935 | |
| 260 | Keller Ground Engineering India Pvt. Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of inflow of funds received from a person outside India | 1 days to 5 m 26 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares, and (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The company is engaged in other business support service activities. The applicant received foreign inward remittances from Keller Holding GMBH, Germany and Keller Holdings Limited, UK towards subscription to equity shares and reported the same to the Reserve Bank. Out of total remittances, few remittances were reported to RBI beyond 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs Further, the applicant submitted form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India | 312,540,000 | 305,250 | |
| 261 | Keller Ground Engineering India Pvt. Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 4 months to 5 months | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares, and (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The company is engaged in other business support service activities. The applicant received foreign inward remittances from Keller Holding GMBH, Germany and Keller Holdings Limited, UK towards subscription to equity shares and reported the same to the Reserve Bank. Out of total remittances, few remittances were reported to RBI beyond 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs Further, the applicant submitted form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India | 500,329,955 | 305,250 | |
| 262 | Encore Theme technologies Pvt Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 22 days to 3 years 5 months 23 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India.(iii) Delay in allotment of shares beyond prescribed period. | The applicant is engaged in Business of Software Development and Services. The applicant received foreign inward remittances from M/s Encore Operating Partner, Mauritius towards subscription to equity shares and reported the same to the Reserve Bank. Out of total remittances, few remittances were reported to RBI beyond 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs Further, the applicant submitted form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India.The company has received remittances of ₹ 16,03,363/-, ₹ 7,85,217/- and ₹ 25,06,408/- on 02.09.2011, 16.09.2011 and 09.07.2012 respectively against which shares were allotted on 31.12.2013. beyond the period of 180 days from the date of receipt of inward remittance without prior approval of Reserve Bank. | 33,787,498 | 180,004 | |
| 263 | Encore Theme technologies Pvt Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 2 months 3 days to 1 years 2 months 17 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India.(iii) Delay in allotment of shares beyond prescribed period. | The applicant is engaged in Business of Software Development and Services. The applicant received foreign inward remittances from M/s Encore Operating Partner, Mauritius towards subscription to equity shares and reported the same to the Reserve Bank. Out of total remittances, few remittances were reported to RBI beyond 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs Further, the applicant submitted form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India.The company has received remittances of ₹ 16,03,363/-, ₹ 7,85,217/- and ₹ 25,06,408/- on 02.09.2011, 16.09.2011 and 09.07.2012 respectively against which shares were allotted on 31.12.2013. beyond the period of 180 days from the date of receipt of inward remittance without prior approval of Reserve Bank. | 36,002,609 | 180,004 | |
| 264 | Encore Theme technologies Pvt Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in allotment of shares beyond the prescribed period | 11 months 22 days to 1 years 9 months 29 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India.(iii) Delay in allotment of shares beyond prescribed period. | The applicant is engaged in Business of Software Development and Services. The applicant received foreign inward remittances from M/s Encore Operating Partner, Mauritius towards subscription to equity shares and reported the same to the Reserve Bank. Out of total remittances, few remittances were reported to RBI beyond 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs Further, the applicant submitted form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India.The company has received remittances of ₹ 16,03,363/-, ₹ 7,85,217/- and ₹ 25,06,408/- on 02.09.2011, 16.09.2011 and 09.07.2012 respectively against which shares were allotted on 31.12.2013. beyond the period of 180 days from the date of receipt of inward remittance without prior approval of Reserve Bank. | 4,894,988 | 180,004 | |
| 265 | Barry Bhangoo | Sep/2016 | ODI | FEMA 120/RB-2004 | ODI- Making direct investment outside India withour prior approval of RBI | 4 years | ODI Making direct investment outside India withour prior approval of RBI | The Applicant, Shri Barry Bhangoo, a resident individual, acquired 12 shares of Uberlabs Software Technology Sarl., Switzerland against the professional fees pursuant to the service agreement executed on June 26, 2012. The applicant further acquired 3,60,000 shares of Uberlabs Inc., a company incorporated under the laws of Delaware, on October 12, 2012 by way of swap of the abovementioned 12 shares. The swap of shares of a non-resident Indian in order to invest abroad, without RBI’s prior approval. | 1,903 | 5,000 | |
| 266 | Solarwinds India Pvt. Ltd. | Sep/2016 | FEMA -Manner of Receipt & Payment Regulations 2016 | FEMA 14/2000-RB | B/L- Failure to obtain the approval of RBI to set off import services payable against export services receivables | 4 years to 5.5 years | (i) Setoff of import services payables against export services receivables from its group entities, without prior approval from reserve bank of India, which was not a permitted manner of receipt and payment, and (ii) Nonremittance of outstanding trade payables to the parent company | The Company is engaged in the business of providing Research and Development (R&D) support services and marketing support services to its group entities located overseas. During the years 2009-2012, the applicant had set-off import services payable against export services receivable from Solarwinds IP Holding Company Limited, Cayman Islands, and Solarwinds Software Europe Limited. Setting-off of imports payable against exports receivable was not a permitted manner of payment or receipt.The applicant, further, had outstanding import services payables (classified as trade payables in the balance sheet) towards Solarwinds Software Europe Limited, which was not remitted for a period of four-five years. The aforementioned trade payables were kept pending without seeking the approval of either AD bank or RBI. The applicant was granted RBI approval for remitting this amount subject to compounding. | 17,541,132 | 234,105 | |
| 267 | Solarwinds India Pvt. Ltd. | Sep/2016 | ECB | FEMA 3/2000-RB | B/L- Failure in remittance of outstanding trade payables to the parent company | 3.5 years to 4.5 years | (i) Setoff of import services payables against export services receivables from its group entities, without prior approval from reserve bank of India, which was not a permitted manner of receipt and payment, and (ii) Nonremittance of outstanding trade payables to the parent company | The Company is engaged in the business of providing Research and Development (R&D) support services and marketing support services to its group entities located overseas. During the years 2009-2012, the applicant had set-off import services payable against export services receivable from Solarwinds IP Holding Company Limited, Cayman Islands, and Solarwinds Software Europe Limited. Setting-off of imports payable against exports receivable was not a permitted manner of payment or receipt.The applicant, further, had outstanding import services payables (classified as trade payables in the balance sheet) towards Solarwinds Software Europe Limited, which was not remitted for a period of four-five years. The aforementioned trade payables were kept pending without seeking the approval of either AD bank or RBI. The applicant was granted RBI approval for remitting this amount subject to compounding. | 526,104 | 234,105 | |
| 268 | Faizan Aziz | Sep/2016 | FEMA -Borrowing & Lending in Rupees Regulations 2000 | FEMA 4/2000-RB | B/L- Indian Resident borrowed in Indian Currency from a person resident outside India | 11 months | Any person resident in India, whether a company or otherwise, is not permitted to use proceeds of money raised in Rupee from a NRI for any investment, whether by way of capital or otherwise, in any company or partnership firm or proprietorship concern or any entity, whether incorporated or not, or for relending. | The applicant, in order to acquire shares in a domestic company, viz., M/s Metarain Software Solutions Private Limited, of which he was one of the promoters, raised a loan of INR 85,750 on March 18, 2015 from an NRI Mr. Mohammed Fakruddin Ajmal. The loan was from NRO account of the lender maintained with ICICI Bank, Bangalore Branch. | 85,750 | 8,000 | |
| 269 | Anirudh Shashi Contoor | Sep/2016 | FEMA -Borrowing & Lending in Rupees Regulations 2000 | FEMA 4/2000-RB | B/L- Indian Resident borrowed in Indian Currency from a person resident outside India | 11 months | Any person resident in India, whether a company or otherwise, is not permitted to use proceeds of money raised in Rupee from a NRI for any investment, whether by way of capital or otherwise, in any company or partnership firm or proprietorship concern or any entity, whether incorporated or not, or for relending. | The applicant, a resident individual is engaged in the profession of software engineering. The applicant, in order to acquire shares in a domestic company, viz., M/s Metarain Software Solutions Private Limited, of which he was one of the promoters, raised a loan of INR 85,750 on March 18, 2015 from an NRI Mr. Mohammed Fakruddin Ajmal. The loan was from NRO account of the lender maintained with ICICI Bank, Bangalore Branch. | 85,750 | 8,000 | |
| 270 | Ronak Gems Pvt. Ltd. | Sep/2016 | ECB | FEMA 3/2000-RB | B/L- Availment of foreign currency credit for a period beyond 6 months | 1 years 8 m to 5 years 6 m | Nonrepayment of foreign currency credit, extended by the overseas supplier of goods, for a period exceeding six months | The Company is engaged in the business of buying, selling and dealing in jewelleries studded with diamonds, precious and semi-precious stones, gold ornaments, and pearls including natural and cultural pearls. The applicant had imported polished diamonds and imported pearls. RBI gave approval for repayment of the foreign currency credit beyond 180 days vide letters dated September 29, 2015 and April 06, 2016, subject to compounding. | 31,217,653 | 267,782 | |
| 271 | Mak Plywood Industries Pvt. Ltd. | Sep/2016 | ODI | FEMA 120/RB-2004 | ODI- Non Reporting of remittances in form ODI | 1 to 2 years | (i) nonreporting of remittances made towards investment in overseas wholly owned subsidiary (WOS) in Form ODI as prescribed; (ii) capitalization of outstanding export bills without prior permission of the Reserve Bank of India (RBI) and (iii) delayed submission of Annual Performance Report (APR) in respect of overseas entity | The applicant is engaged in the business of manufacturing of Commercial Face Veneer, Core Veneer, Sawn Timber, Teak Veneer and Plywood. The applicant set up a WOS in Myanmar, Mak (Myanmar) Plywood Industries Private Limited, on December 04, 2013. The applicant made remittances towards investment in the WOS and in the case of 19 remittances, the applicant delayed in reporting to RBI the investments in Form ODI within the prescribed time period of 30 days in contravention of Regulation 6(2)(vi) of Notification No. FEMA 120/2004-RB dated July 7, 2004. The investments were reported by the applicant in Form ODI to the Authorised Dealer (AD) Bank on January 05, 2015. The details of remittances where reporting to RBI was delayed. However, capitalization of export bills which are outstanding beyond the prescribed period of realization require the prior approval of the Reserve Bank of India. The applicant did not obtain the prior approval of the RBI for the following export invoices where capitalization took place beyond the prescribed period of realization, i.e., nine months from the date of export. Further, the applicant delayed in submitting the Annual Performance Report (APR) in respect of the overseas entity to RBI beyond the prescribed period. APR for the year 2013 - 2014 was taken on record by the RBI in March, 2016. | 46,450,518 | 585,000 | |
| 272 | Mak Plywood Industries Pvt. Ltd. | Sep/2016 | ODI | FEMA 120/RB-2004 | ODI- Failure to obtain RBI approval for capitalisation of outstanding export bills | 9 months | (i) nonreporting of remittances made towards investment in overseas wholly owned subsidiary (WOS) in Form ODI as prescribed; (ii) capitalization of outstanding export bills without prior permission of the Reserve Bank of India (RBI) and (iii) delayed submission of Annual Performance Report (APR) in respect of overseas entity | The applicant is engaged in the business of manufacturing of Commercial Face Veneer, Core Veneer, Sawn Timber, Teak Veneer and Plywood. The applicant set up a WOS in Myanmar, Mak (Myanmar) Plywood Industries Private Limited, on December 04, 2013. The applicant made remittances towards investment in the WOS and in the case of 19 remittances, the applicant delayed in reporting to RBI the investments in Form ODI within the prescribed time period of 30 days in contravention of Regulation 6(2)(vi) of Notification No. FEMA 120/2004-RB dated July 7, 2004. The investments were reported by the applicant in Form ODI to the Authorised Dealer (AD) Bank on January 05, 2015. The details of remittances where reporting to RBI was delayed. However, capitalization of export bills which are outstanding beyond the prescribed period of realization require the prior approval of the Reserve Bank of India. The applicant did not obtain the prior approval of the RBI for the following export invoices where capitalization took place beyond the prescribed period of realization, i.e., nine months from the date of export. Further, the applicant delayed in submitting the Annual Performance Report (APR) in respect of the overseas entity to RBI beyond the prescribed period. APR for the year 2013 - 2014 was taken on record by the RBI in March, 2016. | 44,121,025 | 585,000 | |
| 273 | Mak Plywood Industries Pvt. Ltd. | Sep/2016 | ODI | FEMA 120/RB-2004 | ODI- Non-submission of Annual Performance Reports (APRs) | 1 years | (i) nonreporting of remittances made towards investment in overseas wholly owned subsidiary (WOS) in Form ODI as prescribed; (ii) capitalization of outstanding export bills without prior permission of the Reserve Bank of India (RBI) and (iii) delayed submission of Annual Performance Report (APR) in respect of overseas entity | The applicant is engaged in the business of manufacturing of Commercial Face Veneer, Core Veneer, Sawn Timber, Teak Veneer and Plywood. The applicant set up a WOS in Myanmar, Mak (Myanmar) Plywood Industries Private Limited, on December 04, 2013. The applicant made remittances towards investment in the WOS and in the case of 19 remittances, the applicant delayed in reporting to RBI the investments in Form ODI within the prescribed time period of 30 days in contravention of Regulation 6(2)(vi) of Notification No. FEMA 120/2004-RB dated July 7, 2004. The investments were reported by the applicant in Form ODI to the Authorised Dealer (AD) Bank on January 05, 2015. The details of remittances where reporting to RBI was delayed. However, capitalization of export bills which are outstanding beyond the prescribed period of realization require the prior approval of the Reserve Bank of India. The applicant did not obtain the prior approval of the RBI for the following export invoices where capitalization took place beyond the prescribed period of realization, i.e., nine months from the date of export. Further, the applicant delayed in submitting the Annual Performance Report (APR) in respect of the overseas entity to RBI beyond the prescribed period. APR for the year 2013 - 2014 was taken on record by the RBI in March, 2016. | 90,571,543 | 585,000 | |
| 274 | Punjab Chemicals and Crop Protection Ltd. | Sep/2016 | ODI | FEMA 120/RB-2004 | ODI- Non Reporting of remittances in form ODI | 3 to 5 years | (i) Nonreporting of remittances made abroad in Form ODI within the stipulated time period, (ii) Nonreporting of issuance of Corporate guarantees in Form ODI within the stipulated time period, (iii) Creation of charge on its fixed assets in India in favour of overseas lender without prior approval of Reserve Bank of India, (iv) Utilization of overdue export proceeds for acquiring a stake in a step down subsidiary, (v) Nonreporting of investment in stepdown subsidiary within the stipulated time period and (vi) Nonsubmission of Annual Performance Reports (APRs) within the stipulated time period | The applicant is engaged in the business of manufacturing, producing and dealing in insecticides, pesticides etc. and manufacturing and dealing in chemical products. The applicant set-up a Joint Venture (JV), SD Agchem (Europe) NV in Belgium in 2006. The applicant made 5 remittances and reported the same in Form ODI beyond the stipulated time period of 30 days from the date of remittance, The applicant issued two corporate guarantees on behalf of its JV and it was not reported in Form ODI within the stipulated time period of 30 days from the date of remittance. The applicant had created a charge on its fixed assets in India to the extent of Rs. 29,00,00,000/-, in favour of overseas lender on September 15, 2010, without the prior approval of the Reserve Bank of India.The applicant had utilized overdue export proceeds to the extent of Rs. 34,57,57,929/- for acquiring a stake in the step-down subsidiary in Argentina, namely, Sintesis Quimica SAIC. The applicant did not report the setting up of step-down subsidiary within the stipulated period. The applicant did-not submit the Annual Performance Reports (APRs) for the years 2006-2010 within the stipulated time period | 373,796,429 | 7,108,317 | |
| 275 | Punjab Chemicals and Crop Protection Ltd. | Sep/2016 | ODI | FEMA 120/RB-2004 | ODI- Non Reporting of issuane of Corporate Guarantee in Form-ODI | 3 to 5 years | (i) Nonreporting of remittances made abroad in Form ODI within the stipulated time period, (ii) Nonreporting of issuance of Corporate guarantees in Form ODI within the stipulated time period, (iii) Creation of charge on its fixed assets in India in favour of overseas lender without prior approval of Reserve Bank of India, (iv) Utilization of overdue export proceeds for acquiring a stake in a step down subsidiary, (v) Nonreporting of investment in stepdown subsidiary within the stipulated time period and (vi) Nonsubmission of Annual Performance Reports (APRs) within the stipulated time period | The applicant is engaged in the business of manufacturing, producing and dealing in insecticides, pesticides etc. and manufacturing and dealing in chemical products. The applicant set-up a Joint Venture (JV), SD Agchem (Europe) NV in Belgium in 2006. The applicant made 5 remittances and reported the same in Form ODI beyond the stipulated time period of 30 days from the date of remittance, The applicant issued two corporate guarantees on behalf of its JV and it was not reported in Form ODI within the stipulated time period of 30 days from the date of remittance. The applicant had created a charge on its fixed assets in India to the extent of Rs. 29,00,00,000/-, in favour of overseas lender on September 15, 2010, without the prior approval of the Reserve Bank of India.The applicant had utilized overdue export proceeds to the extent of Rs. 34,57,57,929/- for acquiring a stake in the step-down subsidiary in Argentina, namely, Sintesis Quimica SAIC. The applicant did not report the setting up of step-down subsidiary within the stipulated period. The applicant did-not submit the Annual Performance Reports (APRs) for the years 2006-2010 within the stipulated time period | 352,928,000 | 7,108,317 | |
| 276 | Punjab Chemicals and Crop Protection Ltd. | Sep/2016 | ODI | FEMA 120/RB-2004 | ODI- Creation of charge on its fixed assets in India in favour of overseas lender without prior approval of Reserve Bank of India | 5.5 years | (i) Nonreporting of remittances made abroad in Form ODI within the stipulated time period, (ii) Nonreporting of issuance of Corporate guarantees in Form ODI within the stipulated time period, (iii) Creation of charge on its fixed assets in India in favour of overseas lender without prior approval of Reserve Bank of India, (iv) Utilization of overdue export proceeds for acquiring a stake in a step down subsidiary, (v) Nonreporting of investment in stepdown subsidiary within the stipulated time period and (vi) Nonsubmission of Annual Performance Reports (APRs) within the stipulated time period | The applicant is engaged in the business of manufacturing, producing and dealing in insecticides, pesticides etc. and manufacturing and dealing in chemical products. The applicant set-up a Joint Venture (JV), SD Agchem (Europe) NV in Belgium in 2006. The applicant made 5 remittances and reported the same in Form ODI beyond the stipulated time period of 30 days from the date of remittance, The applicant issued two corporate guarantees on behalf of its JV and it was not reported in Form ODI within the stipulated time period of 30 days from the date of remittance. The applicant had created a charge on its fixed assets in India to the extent of Rs. 29,00,00,000/-, in favour of overseas lender on September 15, 2010, without the prior approval of the Reserve Bank of India.The applicant had utilized overdue export proceeds to the extent of Rs. 34,57,57,929/- for acquiring a stake in the step-down subsidiary in Argentina, namely, Sintesis Quimica SAIC. The applicant did not report the setting up of step-down subsidiary within the stipulated period. The applicant did-not submit the Annual Performance Reports (APRs) for the years 2006-2010 within the stipulated time period | 290,000,000 | 7,108,317 | |
| 277 | Punjab Chemicals and Crop Protection Ltd. | Sep/2016 | ODI | FEMA 120/RB-2004 | ODI- Utilization of overdue export proceeds for acquiring a stake in a step down subsidiary | 9.5 years | (i) Nonreporting of remittances made abroad in Form ODI within the stipulated time period, (ii) Nonreporting of issuance of Corporate guarantees in Form ODI within the stipulated time period, (iii) Creation of charge on its fixed assets in India in favour of overseas lender without prior approval of Reserve Bank of India, (iv) Utilization of overdue export proceeds for acquiring a stake in a step down subsidiary, (v) Nonreporting of investment in stepdown subsidiary within the stipulated time period and (vi) Nonsubmission of Annual Performance Reports (APRs) within the stipulated time period | The applicant is engaged in the business of manufacturing, producing and dealing in insecticides, pesticides etc. and manufacturing and dealing in chemical products. The applicant set-up a Joint Venture (JV), SD Agchem (Europe) NV in Belgium in 2006. The applicant made 5 remittances and reported the same in Form ODI beyond the stipulated time period of 30 days from the date of remittance, The applicant issued two corporate guarantees on behalf of its JV and it was not reported in Form ODI within the stipulated time period of 30 days from the date of remittance. The applicant had created a charge on its fixed assets in India to the extent of Rs. 29,00,00,000/-, in favour of overseas lender on September 15, 2010, without the prior approval of the Reserve Bank of India.The applicant had utilized overdue export proceeds to the extent of Rs. 34,57,57,929/- for acquiring a stake in the step-down subsidiary in Argentina, namely, Sintesis Quimica SAIC. The applicant did not report the setting up of step-down subsidiary within the stipulated period. The applicant did-not submit the Annual Performance Reports (APRs) for the years 2006-2010 within the stipulated time period | 345,757,929 | 7,108,317 | |
| 278 | Punjab Chemicals and Crop Protection Ltd. | Sep/2016 | ODI | FEMA 120/RB-2004 | ODI- Non-reporting of investment in step-down subsidiary within the stipulated time period | 4 years | (i) Nonreporting of remittances made abroad in Form ODI within the stipulated time period, (ii) Nonreporting of issuance of Corporate guarantees in Form ODI within the stipulated time period, (iii) Creation of charge on its fixed assets in India in favour of overseas lender without prior approval of Reserve Bank of India, (iv) Utilization of overdue export proceeds for acquiring a stake in a step down subsidiary, (v) Nonreporting of investment in stepdown subsidiary within the stipulated time period and (vi) Nonsubmission of Annual Performance Reports (APRs) within the stipulated time period | The applicant is engaged in the business of manufacturing, producing and dealing in insecticides, pesticides etc. and manufacturing and dealing in chemical products. The applicant set-up a Joint Venture (JV), SD Agchem (Europe) NV in Belgium in 2006. The applicant made 5 remittances and reported the same in Form ODI beyond the stipulated time period of 30 days from the date of remittance, The applicant issued two corporate guarantees on behalf of its JV and it was not reported in Form ODI within the stipulated time period of 30 days from the date of remittance. The applicant had created a charge on its fixed assets in India to the extent of Rs. 29,00,00,000/-, in favour of overseas lender on September 15, 2010, without the prior approval of the Reserve Bank of India.The applicant had utilized overdue export proceeds to the extent of Rs. 34,57,57,929/- for acquiring a stake in the step-down subsidiary in Argentina, namely, Sintesis Quimica SAIC. The applicant did not report the setting up of step-down subsidiary within the stipulated period. The applicant did-not submit the Annual Performance Reports (APRs) for the years 2006-2010 within the stipulated time period | 5,000,000 | 7,108,317 | |
| 279 | Punjab Chemicals and Crop Protection Ltd. | Sep/2016 | ODI | FEMA 120/RB-2004 | ODI- Non-submission of Annual Performance Reports (APRs) | 5 years | (i) Nonreporting of remittances made abroad in Form ODI within the stipulated time period, (ii) Nonreporting of issuance of Corporate guarantees in Form ODI within the stipulated time period, (iii) Creation of charge on its fixed assets in India in favour of overseas lender without prior approval of Reserve Bank of India, (iv) Utilization of overdue export proceeds for acquiring a stake in a step down subsidiary, (v) Nonreporting of investment in stepdown subsidiary within the stipulated time period and (vi) Nonsubmission of Annual Performance Reports (APRs) within the stipulated time period | The applicant is engaged in the business of manufacturing, producing and dealing in insecticides, pesticides etc. and manufacturing and dealing in chemical products. The applicant set-up a Joint Venture (JV), SD Agchem (Europe) NV in Belgium in 2006. The applicant made 5 remittances and reported the same in Form ODI beyond the stipulated time period of 30 days from the date of remittance, The applicant issued two corporate guarantees on behalf of its JV and it was not reported in Form ODI within the stipulated time period of 30 days from the date of remittance. The applicant had created a charge on its fixed assets in India to the extent of Rs. 29,00,00,000/-, in favour of overseas lender on September 15, 2010, without the prior approval of the Reserve Bank of India.The applicant had utilized overdue export proceeds to the extent of Rs. 34,57,57,929/- for acquiring a stake in the step-down subsidiary in Argentina, namely, Sintesis Quimica SAIC. The applicant did not report the setting up of step-down subsidiary within the stipulated period. The applicant did-not submit the Annual Performance Reports (APRs) for the years 2006-2010 within the stipulated time period | 5,000,000 | 7,108,317 | |
| 280 | Macro Polymers Pvt. Ltd. | Sep/2016 | ODI | FEMA 120/RB-2004 | ODI- Delay in reporting of Form ODI | 2 years | (i)Delayed reporting in Form ODI of investment made overseas in wholly owned subsidiary and overseas remittances without obtaining Unique Identification Number (UIN) (ii) delayed receipt of Share Certificates | The applicant company is engaged in the business of manufacturing, processing and selling all types of synthetic and industrial resins.The applicant company initially remitted AED 35,000 on 23/12/2013 to a local consultant in UAE through the AD bank, State Bank of India, TF CPC branch, Ahmedabad towards incorporation expenses. Out of this amount, AED 25,000 was utilized to obtain license towards equity contribution in the WOS, as required by the local laws in UAE, under which license is issued only upon meeting minimum capital contribution in the WOS. The balance amount of AED 10,000 was charged by the local consultant towards his fees and other expenses. Subsequently the amount of AED 35,000 was received back as refund from the WOS after remittance by the Indian company towards capital. The company was issued a license by the Government of Sharjah, Hamariyah Free Zone on March 9, 2014 and they opened an account with Bank of Baroda, Sharjah on March 19, 2014. Thereafter two remittances were made to the overseas WOS towards equity contribution viz. AED 50,000 on March 31, 2014 and AED 1,50,000 on October 27, 2014 without filing Form ODI and without obtaining the Unique Identification Number (UID) from Reserve Bank of India | 3,319,500 | 78,000 | |
| 281 | Macro Polymers Pvt. Ltd. | Sep/2016 | ODI | FEMA 120/RB-2004 | ODI- Delay in receipt of Share Certificate | 2 years | (i)Delayed reporting in Form ODI of investment made overseas in wholly owned subsidiary and overseas remittances without obtaining Unique Identification Number (UIN) (ii) delayed receipt of Share Certificates | The applicant company is engaged in the business of manufacturing, processing and selling all types of synthetic and industrial resins.The applicant company initially remitted AED 35,000 on 23/12/2013 to a local consultant in UAE through the AD bank, State Bank of India, TF CPC branch, Ahmedabad towards incorporation expenses. Out of this amount, AED 25,000 was utilized to obtain license towards equity contribution in the WOS, as required by the local laws in UAE, under which license is issued only upon meeting minimum capital contribution in the WOS. The balance amount of AED 10,000 was charged by the local consultant towards his fees and other expenses. Subsequently the amount of AED 35,000 was received back as refund from the WOS after remittance by the Indian company towards capital. The company was issued a license by the Government of Sharjah, Hamariyah Free Zone on March 9, 2014 and they opened an account with Bank of Baroda, Sharjah on March 19, 2014. Thereafter two remittances were made to the overseas WOS towards equity contribution viz. AED 50,000 on March 31, 2014 and AED 1,50,000 on October 27, 2014 without filing Form ODI and without obtaining the Unique Identification Number (UID) from Reserve Bank of India | 3,319,500 | 78,000 | |
| 282 | Lodha Aviation Pvt. Ltd. | Sep/2016 | ECB | FEMA 3/2000-RB | B/L-Failure in obtaining prior approval of RBI for prepayment of ECB | 7 months | (i) Not obtaining prior approval of the Reserve Bank of India for prepayment of external commercial borrowing (ECB) and (ii) resultant average maturity period of the loan was not in compliance with the applicable norms for ECB | The Lodha group is engaged in the business of real estate development for commercial purposes in Mumbai, Hyderabad and Pune. Towards the objective of providing chartered aircraft services, the applicant entered into a purchase agreement dated July 30, 2014 with Piaggo Aero Industries S.p.A, Italy for purchase of an aircraft ‘Avanti EVO’. The cost of the aircraft was USD 7,422,000 and as per the terms of the purchase agreement, USD 4,950,000 had to be paid upfront as advance and the balance amount on delivery of the aircraft which was scheduled to be made not later than October 15, 2014. The applicant made payment of an amount of USD 2,420,000 to the supplier and for the balance payment, the applicant availed drawdown of ECB amounting to USD 2,530,000 on October 29, 2014 from Bank of India, London branch. Thereafter, due to delay in the delivery of the aircraft, the applicant cancelled the purchase agreement and repaid the ECB amount (principal plus interest thereon) of USD 2,544,507.90 to Bank of India, London on June 08, 2015. The prepayment of the ECB without obtaining prior approval of the RBI and the resultant non-adherence to the minimum average maturity period of the loan, as applicable | 168,902,800 | 894,500 | |
| 283 | Lodha Aviation Pvt. Ltd. | Sep/2016 | ECB | FEMA 3/2000-RB | B/L- Non-adherence to the minimum average maturity period of the loan, | 7 months | (i) Not obtaining prior approval of the Reserve Bank of India for prepayment of external commercial borrowing (ECB) and (ii) resultant average maturity period of the loan was not in compliance with the applicable norms for ECB | The Lodha group is engaged in the business of real estate development for commercial purposes in Mumbai, Hyderabad and Pune. Towards the objective of providing chartered aircraft services, the applicant entered into a purchase agreement dated July 30, 2014 with Piaggo Aero Industries S.p.A, Italy for purchase of an aircraft ‘Avanti EVO’. The cost of the aircraft was USD 7,422,000 and as per the terms of the purchase agreement, USD 4,950,000 had to be paid upfront as advance and the balance amount on delivery of the aircraft which was scheduled to be made not later than October 15, 2014. The applicant made payment of an amount of USD 2,420,000 to the supplier and for the balance payment, the applicant availed drawdown of ECB amounting to USD 2,530,000 on October 29, 2014 from Bank of India, London branch. Thereafter, due to delay in the delivery of the aircraft, the applicant cancelled the purchase agreement and repaid the ECB amount (principal plus interest thereon) of USD 2,544,507.90 to Bank of India, London on June 08, 2015. The prepayment of the ECB without obtaining prior approval of the RBI and the resultant non-adherence to the minimum average maturity period of the loan, as applicable | 168,902,800 | 894,500 | |
| 284 | Afcons Infrastructure Ltd. | Sep/2016 | ODI | FEMA 120/RB-2004 | ODI- Failure in making overseas investment by way of contribution to equity capital of JV | 1 years | (i) Nonrouting of overseas investments related to its Joint Venture (JV) through multiple ADs | The applicant is a 3-Star Export House engaged in developing infrastructure related projects in India and abroad. In this connection, the applicant set up a WOS in Mauritius for channeling funds and putting through financial transactions relating to possible infrastructure contracts sought to be secured in the African region. The WOS, Afcons Infrastructure International Limited, Mauritius was set up on February 13, 2008. As the WOS was in need of additional funds to carry out its activities, the applicant remitted an amount of USD 280,000 (Rs.1,40,64,400) to the WOS on November 21, 2008. The funds, however, were routed through their account with BNP Paribas, Mumbai instead of the designated AD Bank for the WOS, State Bank of India, Commercial Branch, Mumbai.The above remittance, along with interest thereon, was received back by the applicant in June, 2009. | 14,064,400 | 120,300 | |
| 285 | Kaefer Pvt. Ltd. | Sep/2016 | ECB | FEMA 3/2000-RB | B/L- Borrower is not eligible | 4 years to 7 years | (i) the borrower is not an eligible borrower in terms of extant ECB guidelines; (ii) utilization of ECB proceeds towards import of services which is a nonpermissible end use; (iii) draw down of the ECB without obtaining Loan Registration Number (LRN) from the Reserve Bank of India (RBI) and nonadherence to reporting requirements as applicable. | The applicant is engaged in the business of insulation contract work, refractory lining and scaffolding services along with supply of materials. During the period 2008 to 2011, the applicant availed various types of services from its foreign holding company as part of normal business activity. In lieu of the services availed by the applicant, the parent company raised invoices towards reimbursement for the services rendered. Invoices were raised by Kaefer Isoliertechnik GmbH & Co. KG, Germany which is the sole shareholder of Kaefer GmbH, Germany, which in turn is the holding company of the applicant, holding 91.48% equity shares of the applicant. Due to financial difficulties, the applicant delayed in making payment for the services beyond a period of six months from the date of import and since the payment remained outstanding beyond three years from the date of import, it is to be considered as deemed external commercial borrowing (ECB). However, the deemed ECB was in contravention of extant ECB guidelines on account of (i) the applicant is in the services sector and is not an eligible borrower, (ii) the end use relates to import of services which is not a permissible end use, (iii) the drawdown of loan took place without obtaining Loan Registration Number (LRN) from the RBI and (iv) the applicant did not fulfil the reporting requirements applicable for ECB. | 27,233,362 | 240,000 | |
| 286 | Kaefer Pvt. Ltd. | Sep/2016 | ECB | FEMA 3/2000-RB | B/L- Misutilisation of ECB | 4 years to 7 years | (i) the borrower is not an eligible borrower in terms of extant ECB guidelines; (ii) utilization of ECB proceeds towards import of services which is a nonpermissible end use; (iii) draw down of the ECB without obtaining Loan Registration Number (LRN) from the Reserve Bank of India (RBI) and nonadherence to reporting requirements as applicable. | The applicant is engaged in the business of insulation contract work, refractory lining and scaffolding services along with supply of materials. During the period 2008 to 2011, the applicant availed various types of services from its foreign holding company as part of normal business activity. In lieu of the services availed by the applicant, the parent company raised invoices towards reimbursement for the services rendered. Invoices were raised by Kaefer Isoliertechnik GmbH & Co. KG, Germany which is the sole shareholder of Kaefer GmbH, Germany, which in turn is the holding company of the applicant, holding 91.48% equity shares of the applicant. Due to financial difficulties, the applicant delayed in making payment for the services beyond a period of six months from the date of import and since the payment remained outstanding beyond three years from the date of import, it is to be considered as deemed external commercial borrowing (ECB). However, the deemed ECB was in contravention of extant ECB guidelines on account of (i) the applicant is in the services sector and is not an eligible borrower, (ii) the end use relates to import of services which is not a permissible end use, (iii) the drawdown of loan took place without obtaining Loan Registration Number (LRN) from the RBI and (iv) the applicant did not fulfil the reporting requirements applicable for ECB. | 25,159,374 | 240,000 | |
| 287 | Kaefer Pvt. Ltd. | Sep/2016 | ECB | FEMA 3/2000-RB | B/L- Failure in obtaining LRN from RBI before drawdown of ECB | 4 years to 7 years | (i) the borrower is not an eligible borrower in terms of extant ECB guidelines; (ii) utilization of ECB proceeds towards import of services which is a nonpermissible end use; (iii) draw down of the ECB without obtaining Loan Registration Number (LRN) from the Reserve Bank of India (RBI) and nonadherence to reporting requirements as applicable. | The applicant is engaged in the business of insulation contract work, refractory lining and scaffolding services along with supply of materials. During the period 2008 to 2011, the applicant availed various types of services from its foreign holding company as part of normal business activity. In lieu of the services availed by the applicant, the parent company raised invoices towards reimbursement for the services rendered. Invoices were raised by Kaefer Isoliertechnik GmbH & Co. KG, Germany which is the sole shareholder of Kaefer GmbH, Germany, which in turn is the holding company of the applicant, holding 91.48% equity shares of the applicant. Due to financial difficulties, the applicant delayed in making payment for the services beyond a period of six months from the date of import and since the payment remained outstanding beyond three years from the date of import, it is to be considered as deemed external commercial borrowing (ECB). However, the deemed ECB was in contravention of extant ECB guidelines on account of (i) the applicant is in the services sector and is not an eligible borrower, (ii) the end use relates to import of services which is not a permissible end use, (iii) the drawdown of loan took place without obtaining Loan Registration Number (LRN) from the RBI and (iv) the applicant did not fulfil the reporting requirements applicable for ECB. | 2,073,989 | 240,000 | |
| 288 | Select Equity Advisory Services Pvt. Ltd. | Sep/2016 | ODI | FEMA 120/RB-2004 | ODI- Failure in maintaining the routing of the financial transactions through only one branch of designated AD | 12 years | (i) Nonrouting of overseas investments related to its Joint Venture (JV) through multiple ADs, (ii) overseas investment in preferred stock of its JV, without having any equity contribution in it, (iii) noncompliance with the additional conditions stipulated for investment in the financial services sector, (iv) delay in receipt of share certificates beyond the stipulated time period (v) nonsubmission of Annual Performance Reports (APRs) within the stipulated time period and (vi) nonreporting of partial disinvestment in its JV, within the stipulated time period. | The applicant is engaged in the business of investing in equity and other securities, and providing security advisory services. The applicant set-up a Joint Venture (JV), Onconova Therapeutics Inc., USA on December 22, 1998. The applicant made the following remittances through an Authorized Dealer (AD), other than its designated AD. The applicant invested in the preferred stocks of its JV, without an equity contribution in the said JV. Further the applicant made delay in receipt of share certificates amounted to Rs. 12,50,000 beyond the stipulated period of six months. The applicant did-not submit the Annual Performance Reports (APRs) for the years 2006, 2009, 2010 and 2011 within the stipulated time period. Further, The applicant had partially disinvested 500 shares out of 69,747 shares on April 8, 2014. However the above was reported on March 19, 2015, with a delay beyond the stipulated time period. | 10,548,583 | 607,880 | |
| 289 | Select Equity Advisory Services Pvt. Ltd. | Sep/2016 | ODI | FEMA 120/RB-2004 | ODI- Failure in making overseas investment by way of contribution to equity capital of JV | 4 to 9 years | (i) Nonrouting of overseas investments related to its Joint Venture (JV) through multiple ADs, (ii) overseas investment in preferred stock of its JV, without having any equity contribution in it, (iii) noncompliance with the additional conditions stipulated for investment in the financial services sector, (iv) delay in receipt of share certificates beyond the stipulated time period (v) nonsubmission of Annual Performance Reports (APRs) within the stipulated time period and (vi) nonreporting of partial disinvestment in its JV, within the stipulated time period. | The applicant is engaged in the business of investing in equity and other securities, and providing security advisory services. The applicant set-up a Joint Venture (JV), Onconova Therapeutics Inc., USA on December 22, 1998. The applicant made the following remittances through an Authorized Dealer (AD), other than its designated AD. The applicant invested in the preferred stocks of its JV, without an equity contribution in the said JV. Further the applicant made delay in receipt of share certificates amounted to Rs. 12,50,000 beyond the stipulated period of six months. The applicant did-not submit the Annual Performance Reports (APRs) for the years 2006, 2009, 2010 and 2011 within the stipulated time period. Further, The applicant had partially disinvested 500 shares out of 69,747 shares on April 8, 2014. However the above was reported on March 19, 2015, with a delay beyond the stipulated time period. | 28,685,291 | 607,880 | |
| 290 | Select Equity Advisory Services Pvt. Ltd. | Sep/2016 | ODI | FEMA 120/RB-2004 | ODI- Non- compliance of Additional Conditions in financial service sector | 7 to 9 years | (i) Nonrouting of overseas investments related to its Joint Venture (JV) through multiple ADs, (ii) overseas investment in preferred stock of its JV, without having any equity contribution in it, (iii) noncompliance with the additional conditions stipulated for investment in the financial services sector, (iv) delay in receipt of share certificates beyond the stipulated time period (v) nonsubmission of Annual Performance Reports (APRs) within the stipulated time period and (vi) nonreporting of partial disinvestment in its JV, within the stipulated time period. | The applicant is engaged in the business of investing in equity and other securities, and providing security advisory services. The applicant set-up a Joint Venture (JV), Onconova Therapeutics Inc., USA on December 22, 1998. The applicant made the following remittances through an Authorized Dealer (AD), other than its designated AD. The applicant invested in the preferred stocks of its JV, without an equity contribution in the said JV. Further the applicant made delay in receipt of share certificates amounted to Rs. 12,50,000 beyond the stipulated period of six months. The applicant did-not submit the Annual Performance Reports (APRs) for the years 2006, 2009, 2010 and 2011 within the stipulated time period. Further, The applicant had partially disinvested 500 shares out of 69,747 shares on April 8, 2014. However the above was reported on March 19, 2015, with a delay beyond the stipulated time period. | 14,113,639 | 607,880 | |
| 291 | Select Equity Advisory Services Pvt. Ltd. | Sep/2016 | ODI | FEMA 120/RB-2004 | ODI- Non receipt of share certificate for investment in JV/WOS | (i) 12 years (ii) 4 years to 9 years (iii) 7 years to 9 years (vi) 8 months | (i) Nonrouting of overseas investments related to its Joint Venture (JV) through multiple ADs, (ii) overseas investment in preferred stock of its JV, without having any equity contribution in it, (iii) noncompliance with the additional conditions stipulated for investment in the financial services sector, (iv) delay in receipt of share certificates beyond the stipulated time period (v) nonsubmission of Annual Performance Reports (APRs) within the stipulated time period and (vi) nonreporting of partial disinvestment in its JV, within the stipulated time period. | The applicant is engaged in the business of investing in equity and other securities, and providing security advisory services. The applicant set-up a Joint Venture (JV), Onconova Therapeutics Inc., USA on December 22, 1998. The applicant made the following remittances through an Authorized Dealer (AD), other than its designated AD. The applicant invested in the preferred stocks of its JV, without an equity contribution in the said JV. Further the applicant made delay in receipt of share certificates amounted to Rs. 12,50,000 beyond the stipulated period of six months. The applicant did-not submit the Annual Performance Reports (APRs) for the years 2006, 2009, 2010 and 2011 within the stipulated time period. Further, The applicant had partially disinvested 500 shares out of 69,747 shares on April 8, 2014. However the above was reported on March 19, 2015, with a delay beyond the stipulated time period. | 1,250,000 | 607,880 | |
| 292 | Select Equity Advisory Services Pvt. Ltd. | Sep/2016 | ODI | FEMA 120/RB-2004 | ODI- Not routing ODI through one AD bank, investing without equity contribution, investment in financial services sector, delay in receipt of share certificates and Non submission of APR | (i) 12 years (ii) 4 years to 9 years (iii) 7 years to 9 years (vi) 8 months | (i) Nonrouting of overseas investments related to its Joint Venture (JV) through multiple ADs, (ii) overseas investment in preferred stock of its JV, without having any equity contribution in it, (iii) noncompliance with the additional conditions stipulated for investment in the financial services sector, (iv) delay in receipt of share certificates beyond the stipulated time period (v) nonsubmission of Annual Performance Reports (APRs) within the stipulated time period and (vi) nonreporting of partial disinvestment in its JV, within the stipulated time period. | The applicant is engaged in the business of investing in equity and other securities, and providing security advisory services. The applicant set-up a Joint Venture (JV), Onconova Therapeutics Inc., USA on December 22, 1998. The applicant made the following remittances through an Authorized Dealer (AD), other than its designated AD. The applicant invested in the preferred stocks of its JV, without an equity contribution in the said JV. Further the applicant made delay in receipt of share certificates amounted to Rs. 12,50,000 beyond the stipulated period of six months. The applicant did-not submit the Annual Performance Reports (APRs) for the years 2006, 2009, 2010 and 2011 within the stipulated time period. Further, The applicant had partially disinvested 500 shares out of 69,747 shares on April 8, 2014. However the above was reported on March 19, 2015, with a delay beyond the stipulated time period. | (i) 1,05,48,583 (ii) 2,86,85,291 (iii) 1,41,13,639 (vi) 1,21,634.79 | 607,880 | |
| 293 | Select Equity Advisory Services Pvt. Ltd. | Sep/2016 | ODI | FEMA 120/RB-2004 | ODI- Non Reporting of Partial Disinvestment | 8 months | (i) Routing of overseas investments related to its Joint Venture (JV) through multiple ADs, (ii) overseas investment in preferred stock of its JV, without having any equity contribution in it, (iii) noncompliance with the additional conditions stipulated for investment in the financial services sector, (iv) delay in receipt of share certificates beyond the stipulated time period (v) nonsubmission of Annual Performance Reports (APRs) within the stipulated time period and (vi) nonreporting of partial disinvestment in its JV, within the stipulated time period. | The applicant is engaged in the business of investing in equity and other securities, and providing security advisory services. The applicant set-up a Joint Venture (JV), Onconova Therapeutics Inc., USA on December 22, 1998. The applicant made the following remittances through an Authorized Dealer (AD), other than its designated AD. The applicant invested in the preferred stocks of its JV, without an equity contribution in the said JV. Further the applicant made delay in receipt of share certificates amounted to Rs. 12,50,000 beyond the stipulated period of six months. The applicant did-not submit the Annual Performance Reports (APRs) for the years 2006, 2009, 2010 and 2011 within the stipulated time period. Further, The applicant had partially disinvested 500 shares out of 69,747 shares on April 8, 2014. However the above was reported on March 19, 2015, with a delay beyond the stipulated time period. | 121,635 | 607,880 | |
| 294 | GAVS Information Services Pvt. Ltd. | Sep/2016 | ODI | FEMA 120/RB-2004 | ODI- Delay in filing form ODI | 8 months to 8 years | (i) Delay in filing Form ODI and (ii) nonsubmission of Annual Performance Reports (APR) within the stipulated time period. | The applicant is engaged in the business of developing computer software including packaged software and customized software. A Wholly Owned Subsidiary (WOS) of the applicant company, namely, GAVS Holdings Limited was incorporated in British Virgin Islands on June 28, 2007.The applicant company mase overseas direct investment of Rs. 1,70,52,400. The form ODI for the said investment was not filed within prescribed period. The Annual Performance Reports (APRs) for the years 2008-2015 were submitted on January 20, 2016, with a delay beyond the stipulated time period. | 17,052,400 | 224,917 | |
| 295 | GAVS Information Services Pvt. Ltd. | Sep/2016 | ODI | FEMA 120/RB-2004 | ODI- Delay in submission of APR | 8 months to 8 years | (i) Delay in filing Form ODI and (ii) nonsubmission of Annual Performance Reports (APR) within the stipulated time period. | The applicant is engaged in the business of developing computer software including packaged software and customized software. A Wholly Owned Subsidiary (WOS) of the applicant company, namely, GAVS Holdings Limited was incorporated in British Virgin Islands on June 28, 2007.The applicant company mase overseas direct investment of Rs. 1,70,52,400. The form ODI for the said investment was not filed within prescribed period. The Annual Performance Reports (APRs) for the years 2008-2015 were submitted on January 20, 2016, with a delay beyond the stipulated time period. | 17,052,400 | 224,917 | |
| 296 | Larsen & Toubro Infotech Ltd. | Sep/2016 | ODI | FEMA 120/RB-2004 | ODI- Failure of obtaining RBI approval at the time of overseas investment and non submission of APR | 10 years and 7 months | (i)Overseas investment by the applicant without prior approval of RBI(ii)Non submission of APR | The applicant Larsen & Toubro Infotech Limited, a company incorporated under the Companies Act, 1956 and having its corporate office at L & T Technology Tower, Saki Vihar Road, Powai, Mumbai – 400 072. The Indian Party on October 14, 2005 remitted CAD 171,500 through their branch office in USA for acquiring the 100% stake in Larsen & Toubro Canada Limited from Mr. Peter Schmidt and Mr, Ananth Seshan. This is a contravention of provisions of para 3(ii) of A.P. (DIR Series) Circular No.54 dated June 29, 2002. The said investment was reported to us on February 6, 2016 and the APRs since inception were reported to us on March 30, 2016. The delay in submission of Form ODI and the APRs is a contravention of Regulation 6(2)(vi) and Regulation 15(iii) Notification No. FEMA120/RB-2004. | 6,606,466 | 393,180 | |
| 297 | Tushar Satishbhai Patel | Sep/2016 | ODI | FEMA 120/RB-2004 | ODI- Non receipt of share certificate for investment in JV/WOS | 1 year | Non receipt of share certificate in respect of the overseas investments within the prescribed period | The applicant had remitted an amount of USD 50,000 on May 21, 2014 through Axis Bank towards investment in a Joint Venture ‘Milan Enterprises LLC’ in Ohio, USA. The applicant invested in shares worth 24% of the total capital of the overseas firm M/s Milan Enterprise LLC. The applicant was to make a total investment of USD 720,000 towards the said JV. Owing to personal reasons, he was unable to remit the balance amount of USD 670,000. | 2,982,500 | 10,000 | |
| 298 | Sociedade De Fomento Industrial Pvt. Ltd.(III) | Sep/2016 | ODI | FEMA 120/RB-2004 | ODI- Failure of obtaining RBI approval at the time of overseas investment | 1 years and 5 months | (i)Overseas investment by the applicant without prior approval of RBI | The applicant is majorly engaged in the business of mining and mineral development. On October 13, 2014, the applicant received a directive from the Directorate of Enforcement, Goa, wherein it was informed that it was being investigated under Prevention of Money Laundering Act, 2002. Subsequent to this, the applicant made the fresh investments in its WOS, Sociedade Fomento De Minerais De Mocambique Limitada (incorporated in Mozambique on December 24, 2013), without waiting for allotment of UIN under approval route and without the prior permission of the Reserve Bank of India | 2,031,225,000 | 11,171,915 | |
| 299 | Value First Digital Media Pvt. Ltd. | Sep/2016 | ODI | FEMA 120/RB-2004 | ODI- Non submission of APR in Part-III of Form ODI to Reserve Bank through authorised dealer | 7 years and 5 months | (i) nonsubmission of Annual Performance Report (Form ODI Part II) and (ii) for undertaking disinvestment of the JV under automatic route without submission of APRs | The applicant, on December 18, 2008 invested GBP 95,000 in the overseas JV. The APRs for the years 2009 and 2010 were not submitted within the prescribed period and thus the applicant had contravened the provisions.Further the Indian Party had divested their entire stake on July 20, 2010 without the submission of APRs | 7,008,416 | 460,018 | |
| 300 | Value First Digital Media Pvt. Ltd. | Sep/2016 | ODI | FEMA 120/RB-2004 | ODI- Disinvestment of stake without submission of APR | 7 years and 5 months | (i) nonsubmission of Annual Performance Report (Form ODI Part II) and (ii) for undertaking disinvestment of the JV under automatic route without submission of APRs | The applicant, on December 18, 2008 invested GBP 95,000 in the overseas JV. The APRs for the years 2009 and 2010 were not submitted within the prescribed period and thus the applicant had contravened the provisions.Further the Indian Party had divested their entire stake on July 20, 2010 without the submission of APRs | 7,008,416 | 460,018 | |
| 301 | Sociedade De Fomento Industrial Pvt. Ltd.(II) | Sep/2016 | ODI | FEMA 120/RB-2004 | ODI- Failure of obtaining RBI approval at the time of overseas investment | 8 months | (i)Overseas investment by the applicant without prior approval of RBI | The applicant is majorly engaged in the business of mining and mineral development. On October 13, 2014, the applicant received a directive from the Directorate of Enforcement, Goa, wherein it was informed that it was being investigated under Prevention of Money Laundering Act, 2002. Subsequent to this, the applicant made the fresh investments in its WOS, Sociedade Fomento De Minerais De Mocambique Limitada (incorporated in Mozambique on December 24, 2013), without waiting for allotment of UIN under approval route and without the prior permission of the Reserve Bank of India | 66,593,944 | 382,970 | |
| 302 | Sociedade De Fomento Industrial Pvt. Ltd.(I) | Sep/2016 | ODI | FEMA 120/RB-2004 | ODI- Failure of obtaining RBI approval at the time of overseas investment | 1 years 2 months and 1 years 4 months | (i)Overseas investment by the applicant without prior approval of RBI, despite being under investigation by the Directorate of Enforcement, and (ii) Delay in submission of Annual Performance Report (APR), beyond the stipulated time period | The applicant is majorly engaged in the business of mining and mineral development. On October 13, 2014, the applicant received a directive from the Directorate of Enforcement, Goa, wherein it was informed that it was being investigated under Prevention of Money Laundering Act, 2002. Subsequent to this, the applicant made the investments of Rs. 29,66,41,902 in its WOS, Fomento Do Brazil Meneracao Limitada (incorporated in Brazil on August 19, 2013), without the prior permission of the Reserve Bank of India. The applicant did-not submit the Annual Performance Reports (APRs) for the year 2014 within the stipulated time period | 296,641,902 | 1,691,530 | |
| 303 | Sociedade De Fomento Industrial Pvt. Ltd.(I) | Sep/2016 | ODI | FEMA 120/RB-2004 | ODI- Delay in submission of APR | 1 year 2 months to 1 year 4 months | (i)Overseas investment by the applicant without prior approval of RBI, despite being under investigation by the Directorate of Enforcement, and (ii) Delay in submission of Annual Performance Report (APR), beyond the stipulated time period | The applicant is majorly engaged in the business of mining and mineral development. On October 13, 2014, the applicant received a directive from the Directorate of Enforcement, Goa, wherein it was informed that it was being investigated under Prevention of Money Laundering Act, 2002. Subsequent to this, the applicant made the investments of Rs. 29,66,41,902 in its WOS, Fomento Do Brazil Meneracao Limitada (incorporated in Brazil on August 19, 2013), without the prior permission of the Reserve Bank of India. The applicant did-not submit the Annual Performance Reports (APRs) for the year 2014 within the stipulated time period | 296,641,902 | 1,691,530 | |
| 304 | Piramal Enterprises Ltd. | Sep/2016 | ODI | FEMA 120/RB-2004 | ODI- Violation of provision of no direct investment outside India by person resident in India | 10 years and 6 months | Disinvesting the shares of the company before the overseas concern has been in operation for at least one full year without prior approval of Rbi | The Indian Party, on February 23, 2005, invested GBP 100,000 in the equity share capital of PCCL. On December 28, 2005, the Indian Party transferred its entire stake in PCCL to Piramal Holding (Suisse) SA (formerly NPIL Holding (Suisse) SA), a wholly owned subsidiary of the Indian Party, incorporated in Switzerland. At the time of transfer, PCCL had not been in operation for one year from the date of investment | 8,348,057 | 112,610 | |
| 305 | Grama Vidiyal Micro Finance Limited | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of inflow of funds received from a person outside India | 29 days to 4 years 11 months 12 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares, and (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The applicant company is engaged in Business of Other financial service activities, except insurance and pension funding activities. The applicant received foreign inward remittances from 1) M/s Mauritius Unitus Corporation, Mauritius, 2) M/s Microvest II-A LP, Cayman Islands, 3) M/s Amar Foundation, USA and 4) Mr. Vinod Khosla, Canada towards subscription to equity shares and reported the same to the Reserve Bank. Out of total remittances, few remittances were reported to RBI beyond 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs Further, the applicant submitted form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India | 45,019,290 | 50,480 | |
| 306 | Grama Vidiyal Micro Finance Limited | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 13 days to 4 years 10 months 21 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares, and (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The applicant company is engaged in Business of Other financial service activities, except insurance and pension funding activities. The applicant received foreign inward remittances from 1) M/s Mauritius Unitus Corporation, Mauritius, 2) M/s Microvest II-A LP, Cayman Islands, 3) M/s Amar Foundation, USA and 4) Mr. Vinod Khosla, Canada towards subscription to equity shares and reported the same to the Reserve Bank. Out if total remittances, few remittances were reported to RBI beyond 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs Further, the applicant submitted form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India | 192,205,323 | 50,480 | |
| 307 | Growin Coir India Pvt. Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 1 months and 5 days | (i) Delay in submission of Form FCGPR on allotment of shares with Reserve Bank, and (ii) delay in refund of excess inward remittance after allotment of shares to the nonresident investor | The applicant is engaged in Business of Manufacture of products of pith and shalapith. The applicant received foreign inward remittances from M/s Van Doren Engineers B.V., Netherlands towards subscription to equity shares and reported the same to the Reserve Bank.The company allotted equity shares to M/s Van Doren Beheer B.V., Netherlands and filed FC-GPR. Further, the applicant submitted form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India. The excess amount of 7,480.80 (inward remittance of 1,07,470.80 received on 31.07.2009) remaining after allotment of shares on 30.11.2009 was refunded to the overseas remitter on 27.06.2014, with the prior approval of Reserve Bank beyond the prescribed period of 180 days from the date of receipt of the inward remittance. | 99,990 | 4,591 | |
| 308 | Growin Coir India Pvt. Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in refund of excess share application money to the foreign investor | 4 years 4 months 27 days | (i) Delay in submission of Form FCGPR on allotment of shares with Reserve Bank, and (ii) delay in refund of excess inward remittance after allotment of shares to the nonresident investor | The applicant is engaged in Business of Manufacture of products of pith and shalapith. The applicant received foreign inward remittances from M/s Van Doren Engineers B.V., Netherlands towards subscription to equity shares and reported the same to the Reserve Bank.The company allotted equity shares to M/s Van Doren Beheer B.V., Netherlands and filed FC-GPR. Further, the applicant submitted form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India. The excess amount of 7,480.80 (inward remittance of 1,07,470.80 received on 31.07.2009) remaining after allotment of shares on 30.11.2009 was refunded to the overseas remitter on 27.06.2014, with the prior approval of Reserve Bank beyond the prescribed period of 180 days from the date of receipt of the inward remittance. | (i) 99,990 (ii) 7,481 | 4,591 | |
| 309 | Avaap IT Solutions Pvt Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of inflow of funds received from a person outside India | 1 years 1 months 11 days to 1 years 4 months 25 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares and(ii) Delay in refund of excess inward remittance to the nonresident investor | The applicant company is engaged in Business of Computer programming, consultancy and related activities. The applicant received foreign inward remittances from Mr. Dhiraj Shah, USA and Mrs. Namrata Dhiraj Shah, USA towards subscription to equity shares and reported the same to the Reserve Bank. The applicant reported receipt of remittances to the Reserve Bank beyond the stipulated time of 30 days from the date of receipt of the amount of consideration.The company has allotted 75000 shares of ₹ 100 each on 08.10.2013 against the inward remittances received on 20.04.2013 and 15.07.2013. The excess amount of 41,770.00 remaining against the inward remittance received on 15.07.2013 after allotment was refunded to the non-resident investor beyond the prescribed period of 180 days without obtaining the prior approval of RBI. | 7,541,770 | 27,042 | |
| 310 | Avaap IT Solutions Pvt Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in refund of excess share application money to the foreign investor | 5 m 22 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares and(ii) Delay in refund of excess inward remittance to the nonresident investor | The applicant company is engaged in Business of Computer programming, consultancy and related activities. The applicant received foreign inward remittances from Mr. Dhiraj Shah, USA and Mrs. Namrata Dhiraj Shah, USA towards subscription to equity shares and reported the same to the Reserve Bank. The applicant reported receipt of remittances to the Reserve Bank beyond the stipulated time of 30 days from the date of receipt of the amount of consideration.The company has allotted 75000 shares of ₹ 100 each on 08.10.2013 against the inward remittances received on 20.04.2013 and 15.07.2013. The excess amount of 41,770.00 remaining against the inward remittance received on 15.07.2013 after allotment was refunded to the non-resident investor beyond the prescribed period of 180 days without obtaining the prior approval of RBI. | 41,770 | 27,042 | |
| 311 | Budenberg GAuguste Pvt Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 11 days to 1 months 9 days | Delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is engaged in Business of Manufacture of industrial process control equipment. The applicant received foreign inward remittances from (i) Mr. Sanjay Kumar Kaul, Dubai (ii) Mr. John White, UK (iii) M/s. Budenberg 4B Group Ltd, UK towards subscription to equity shares.The company alloted equity shares and filed FC-GPRs. Further, the applicant submitted form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India. | 4,499,000 | 10,705 | |
| 312 | Lex Aude Services Pvt Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 5 days to 1 years 10 m 7 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India.(iii) Delay in allotment of shares beyond prescribed period. | The applicant company is engaged in Business of Other data processing, hosting and related activities. The applicant received foreign inward remittances from Azmul Haque,Singapore, Hari Gopala Krishna Vijapura, UAE, Anand Vijay, USA, Keith B Rodricks, USA, Nipun Dureja, USA and Satyajit Heeralal, USA towards subscription to equity shares and reported the same to the Reserve Bank beyond 30 days from the date of receipt of consideration. The company alloted equity shares and filed FC-GPRs. Further, the applicant submitted form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India. The company delayed in allotment of shares beyond the stipulated period of 180 days from the date of receipt of inward remittances and allotted shares without approval of RBI. | 4,240,553 | 74,070 | |
| 313 | Lex Aude Services Pvt Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 5 m 18 days to 8 m 2 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India.(iii) Delay in allotment of shares beyond prescribed period. | The applicant company is engaged in Business of Other data processing, hosting and related activities. The applicant received foreign inward remittances from Azmul Haque,Singapore, Hari Gopala Krishna Vijapura, UAE, Anand Vijay, USA, Keith B Rodricks, USA, Nipun Dureja, USA and Satyajit Heeralal, USA towards subscription to equity shares and reported the same to the Reserve Bank beyond 30 days from the date of receipt of consideration. The company alloted equity shares and filed FC-GPRs. Further, the applicant submitted form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India. The company delayed in allotment of shares beyond the stipulated period of 180 days from the date of receipt of inward remittances and allotted shares without approval of RBI. | 7,814,130 | 74,070 | |
| 314 | Lex Aude Services Pvt Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in allotment of shares beyond the prescribed period | 11 months 18 days to 4 months 24 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India.(iii) Delay in allotment of shares beyond prescribed period. | The applicant company is engaged in Business of Other data processing, hosting and related activities. The applicant received foreign inward remittances from Azmul Haque,Singapore, Hari Gopala Krishna Vijapura, UAE, Anand Vijay, USA, Keith B Rodricks, USA, Nipun Dureja, USA and Satyajit Heeralal, USA towards subscription to equity shares and reported the same to the Reserve Bank beyond 30 days from the date of receipt of consideration. The company alloted equity shares and filed FC-GPRs. Further, the applicant submitted form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India. The company delayed in allotment of shares beyond the stipulated period of 180 days from the date of receipt of inward remittances and allotted shares without approval of RBI. | 1,500,000 | 74,070 | |
| 315 | N M Infrastructures Pvt Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in allotment of shares beyond the prescribed period | 8 years 9 months 21 days | (i) neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India, within 180 days of the receipt of the inward remittance; and the consideration has not been received before the issuance of shares to nonresidents (ii) delay in reporting receipt of foreign inward remittances; (iii) delay in submission of Form FCGPR to the Reserve Bank | The company is engaged in the activity of “shops, depots, warehouses, concessions, privileges, licenses”.The applicant had received foreign inward remittances from overseas investors towards advance for subscription to equity shares. The applicant reported receipt of remittances towards share subscription amounting to ₹ 26,85,457/- to the Regional Office of Reserve Bank of India and remittances amounting to ₹ 26,85,457/- was reported later than 30 days from the date of receipt of the amount of consideration. The company allotted equity shares and filed Form FC-GPR. Further, the applicant submitted form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India. The company delayed in allotment of shares beyond the stipulated period of 180 days from the date of receipt of inward remittances and allotted shares without approval of RBI. | 2,685,457 | 100,000 | |
| 316 | N M Infrastructures Pvt Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 6 years 5 months and 3 days | (i) neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India, within 180 days of the receipt of the inward remittance; and the consideration has not been received before the issuance of shares to nonresidents (ii) delay in reporting receipt of foreign inward remittances; (iii) delay in submission of Form FCGPR to the Reserve Bank | The company is engaged in the activity of “shops, depots, warehouses, concessions, privileges, licenses”.The applicant had received foreign inward remittances from overseas investors towards advance for subscription to equity shares. The applicant reported receipt of remittances towards share subscription amounting to ₹ 26,85,457/- to the Regional Office of Reserve Bank of India and remittances amounting to ₹ 26,85,457/- was reported later than 30 days from the date of receipt of the amount of consideration. The company allotted equity shares and filed Form FC-GPR. Further, the applicant submitted form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India. The company delayed in allotment of shares beyond the stipulated period of 180 days from the date of receipt of inward remittances and allotted shares without approval of RBI. | 2,685,300 | 100,000 | |
| 317 | N M Infrastructures Pvt Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 10 months and 10 days | (i) neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India, within 180 days of the receipt of the inward remittance; and the consideration has not been received before the issuance of shares to nonresidents (ii) delay in reporting receipt of foreign inward remittances; (iii) delay in submission of Form FCGPR to the Reserve Bank | The company is engaged in the activity of “shops, depots, warehouses, concessions, privileges, licenses”.The applicant had received foreign inward remittances from overseas investors towards advance for subscription to equity shares. The applicant reported receipt of remittances towards share subscription amounting to ₹ 26,85,457/- to the Regional Office of Reserve Bank of India and remittances amounting to ₹ 26,85,457/- was reported later than 30 days from the date of receipt of the amount of consideration. The company allotted equity shares and filed Form FC-GPR. Further, the applicant submitted form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India. The company delayed in allotment of shares beyond the stipulated period of 180 days from the date of receipt of inward remittances and allotted shares without approval of RBI. | 2,685,300 | 100,000 | |
| 318 | Universal Sports Biz Private Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 1 days to 6 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. | The company is in the business of wholesale trade in games, toys, textiles and sports goods. The applicant had received foreign inward remittances from overseas investors towards advance for subscription to equity shares. The applicant reported receipt of remittances towards share subscription amounting to 77,24,81,49 to the Regional Office of Reserve Bank of India and remittances amounting to ` 55,95,08,200/- was reported later than 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed Form FC-GPRs. The applicant filed Form FC-GPRs for the allotment of shares amounting to 37,80,08,200 beyond 30 days from the date of issue of shares to person resident outside India. | 559,508,200 | 48,000 | |
| 319 | Universal Sports Biz Private Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 4 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. | The company is in the business of wholesale trade in games, toys, textiles and sports goods. The applicant had received foreign inward remittances from overseas investors towards advance for subscription to equity shares. The applicant reported receipt of remittances towards share subscription amounting to ` 77,24,81,495.08 to the Regional Office of Reserve Bank of India and remittances amounting to ` 55,95,08,200/- was reported later than 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed Form FC-GPRs. The applicant filed Form FC-GPRs for the allotment of shares amounting to 37,80,08,200 beyond 30 days from the date of issue of shares to person resident outside India. | 378,008,200 | 48,000 | |
| 320 | Provigil Surveillance Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Non filing of form FC-GPRs at the time of shares | 3 years 3 months 25 days | (i) taking on record the transfer of shares without filing certified form FCTRS (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. | The company is engaged in the business of providing security systems services activities.The company allotted equity shares and filed Form FC-GPRs. The applicant filed Form FC-GPR for the allotment of 85,98,600 bonus equity shares of ` 1/- each amounting to ` 85,98,600/- shares beyond 30 days from the date of issue of shares to person resident outside India.The company has taken on record transfer of shares without obtaining certified copy of FC-TRS. The company took the transfer of the above shares on record without obtaining form FC-TRS | 8,598,600 | 53,810 | |
| 321 | Provigil Surveillance Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 29 days to 1 years 10 months 12 days | (i) taking on record the transfer of shares without filing certified form FCTRS (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. | The company is engaged in the business of providing security systems services activities.The company allotted equity shares and filed Form FC-GPRs. The applicant filed Form FC-GPR for the allotment of 85,98,600 bonus equity shares of ` 1/- each amounting to ` 85,98,600/- shares beyond 30 days from the date of issue of shares to person resident outside India.The company has taken on record transfer of shares without obtaining certified copy of FC-TRS. The company took the transfer of the above shares on record without obtaining form FC-TRS | 4,800,000 | 53,810 | |
| 322 | Natems Sugar Pvt. Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 10 days to 4 months 4 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. | The company is engaged in the business to manufacture of sugar and its byproducts.The applicant had received foreign inward remittances from overseas investors towards advance for subscription to equity shares.The applicant reported receipt of remittances towards share subscription amounting to ` 7,45,96,454.02 to the Regional Office of Reserve Bank of India and remittances amounting to ` 5,77,03,754.02 beyond the period of 30 days from the date of receipt of consideration. The company allotted equity shares and filed Form FC-GPRs. The applicant filed Form FC-GPRs for the allotment of shares amounting to ` 7,45,96,450 and submitted the same to RBI beyond 30 days from the date of issue of shares to person resident outside India. | 57,703,754 | 46,940 | |
| 323 | Natems Sugar Pvt. Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 4 days to 5 months 7 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. | The company is engaged in the business to manufacture of sugar and its byproducts.The applicant had received foreign inward remittances from overseas investors towards advance for subscription to equity shares.The applicant reported receipt of remittances towards share subscription amounting to ` 7,45,96,454.02 to the Regional Office of Reserve Bank of India and remittances amounting to ` 5,77,03,754.02 beyond the period of 30 days from the date of receipt of consideration. The company allotted equity shares and filed Form FC-GPRs. The applicant filed Form FC-GPRs for the allotment of shares amounting to ` 7,45,96,450 and submitted the same to RBI beyond 30 days from the date of issue of shares to person resident outside India. | 74,596,450 | 46,940 | |
| 324 | Brun Health Pvt. Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 14 days to 1 months 15 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. | The company is engaged in the business of medical device including designing, development and manufacturing, innovations and developing various solutions for healthcare, trading, importing, and exporting of all types of medical devices.The applicant had received foreign inward remittances from non-residents towards advance for subscription to equity shares amounting to Rs. 11,21,660 to Regional Office of RBI beyond the period of 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed form FC-GPRs beyond 30 days from the date of issue of shares to person resident outside India. | 1,121,660 | 20,000 | |
| 325 | Brun Health Pvt. Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 8 days to 1 months 15 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. | The company is engaged in the business of medical device including designing, development and manufacturing, innovations and developing various solutions for healthcare, trading, importing, and exporting of all types of medical devices.The applicant had received foreign inward remittances from non-residents towards advance for subscription to equity shares amounting to Rs. 11,21,660 to Regional Office of RBI beyond the period of 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed form FC-GPRs beyond 30 days from the date of issue of shares to person resident outside India. | 1,121,660 | 20,000 | |
| 326 | ONG & ONG DESIGNS (India) Pvt. Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 1 months to 2 years 6 months and 14 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India.(iii) Delay in allotment of shares beyond prescribed period. | The applicant company is engaged in the business to carry in India and abroad, either alone or jointly with one or more persons, government, local or other bodies, the business of architectural work, interior designing, decoration and erection and to act as consultants to design, contract build, alter, acquire, convert, improve, erect, establish, equip, dismantle, pull down, turn to account, furnish, level decorate, fabricate, install, finish, modify, own operate,turnkey contractor and manager of all types of roadways, culverts, factories, buildings, structures, drainage and sewage work, water irrigation work,and other similar works. The applicant received foreign inward remittance from M/s ONG & ONG Overseas Pvt. Ltd., Singapore, Mr. Ong Tze Boon, Singapore and Mr Ong Tze Guan, Singapore towards equity / preference share capital and reported the same to the Reserve Bank beyond 30 days from the date of receipt of the amount of consideration. The company allotted equity shares/preference shares/convertible preference shares and filed FC-GPRs beyond 30 days from the date of issue of shares to person resident outside India. The allotment of shares made on June 14, 2008 amounting to Rs.38,48,354/- was made after 180 days of receipt of investment without the approval of Reserve Bank. If the shares are not issued within 180 days from the date of receipt of the inward remittance, the amount of consideration so received shall be refunded to the person concerned, provided the Reserve Bank may, on an application made to it and for sufficient reasons permit to refund the amount of consideration received towards issue of security, if such amount is outstanding beyond a period of 180 days from the date of receipt. | 10,500,009 | 138,931 | |
| 327 | ONG & ONG DESIGNS (India) Pvt. Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 1 months 6 days to 2 years 5 months and 18 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India.(iii) Delay in allotment of shares beyond prescribed period. | The applicant company is engaged in the business to carry in India and abroad, either alone or jointly with one or more persons, government, local or other bodies, the business of architectural work, interior designing, decoration and erection and to act as consultants to design, contract build, alter, acquire, convert, improve, erect, establish, equip, dismantle, pull down, turn to account, furnish, level decorate, fabricate, install, finish, modify, own operate,turnkey contractor and manager of all types of roadways, culverts, factories, buildings, structures, drainage and sewage work, water irrigation work,and other similar works. The applicant received foreign inward remittance from M/s ONG & ONG Overseas Pvt. Ltd., Singapore, Mr. Ong Tze Boon, Singapore and Mr Ong Tze Guan, Singapore towards equity / preference share capital and reported the same to the Reserve Bank beyond 30 days from the date of receipt of the amount of consideration. The company allotted equity shares/preference shares/convertible preference shares and filed FC-GPRs beyond 30 days from the date of issue of shares to person resident outside India. The allotment of shares made on June 14, 2008 amounting to Rs.38,48,354/- was made after 180 days of receipt of investment without the approval of Reserve Bank. If the shares are not issued within 180 days from the date of receipt of the inward remittance, the amount of consideration so received shall be refunded to the person concerned, provided the Reserve Bank may, on an application made to it and for sufficient reasons permit to refund the amount of consideration received towards issue of security, if such amount is outstanding beyond a period of 180 days from the date of receipt. | 10,848,360 | 138,931 | |
| 328 | ONG & ONG DESIGNS (India) Pvt. Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in allotment of shares beyond the prescribed period | 6 months and 15 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India.(iii) Delay in allotment of shares beyond prescribed period. | The applicant company is engaged in the business to carry in India and abroad, either alone or jointly with one or more persons, government, local or other bodies, the business of architectural work, interior designing, decoration and erection and to act as consultants to design, contract build, alter, acquire, convert, improve, erect, establish, equip, dismantle, pull down, turn to account, furnish, level decorate, fabricate, install, finish, modify, own operate,turnkey contractor and manager of all types of roadways, culverts, factories, buildings, structures, drainage and sewage work, water irrigation work,and other similar works. The applicant received foreign inward remittance from M/s ONG & ONG Overseas Pvt. Ltd., Singapore, Mr. Ong Tze Boon, Singapore and Mr Ong Tze Guan, Singapore towards equity / preference share capital and reported the same to the Reserve Bank beyond 30 days from the date of receipt of the amount of consideration. The company allotted equity shares/preference shares/convertible preference shares and filed FC-GPRs beyond 30 days from the date of issue of shares to person resident outside India. The allotment of shares made on June 14, 2008 amounting to Rs.38,48,354/- was made after 180 days of receipt of investment without the approval of Reserve Bank. If the shares are not issued within 180 days from the date of receipt of the inward remittance, the amount of consideration so received shall be refunded to the person concerned, provided the Reserve Bank may, on an application made to it and for sufficient reasons permit to refund the amount of consideration received towards issue of security, if such amount is outstanding beyond a period of 180 days from the date of receipt. | 3,848,354 | 138,931 | |
| 329 | OOMS Avenhorn Holding India Pvt. Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 1 months 2 days to 9 months 29 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India.(iii) Delay in allotment of shares beyond prescribed period. | The company is engaged in the business of manufacturing and marketing of polymer products, crack fillings for asphalt concrete, etc.The applicant company had received 86 inward remittances amounting to Rs. 53,96,32,532.95 from 28.12.1999 to 31.12.2014, out of which, 16 foreign inward remittances aggregating Rs.11,41,26,349.69 were reported with delay ranging from beyond the prescribed period from the date of receipt of consideration. The company had allotted equity shares on 8 occasions, out of which, on 7 occasions, equity shares amounting to Rs. 53,74,57,530.00 were issued from 21.03.2002 to 17.03.2015 to the foreign investors and reported in form FC-GPR with a delay beyond the prescribed period of from the date of issue of shares to person resident outside India.Further, the company had received 35 remittances amounting to Rs. 30,47,29,924.00 during the period 07.09.2004 to 28.01.2009 and had issued shares against these remittances with a delay beyond the prescribed period of 180 days of the receipt of the inward remittances or date of debit to the NRE/FCNR (B) account as the case may be. | 114,126,349 | 4,345,612 | |
| 330 | OOMS Avenhorn Holding India Pvt. Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 3 months and 12 days to 11 years 10 months and 2 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India.(iii) Delay in allotment of shares beyond prescribed period. | The company is engaged in the business of manufacturing and marketing of polymer products, crack fillings for asphalt concrete, etc.The applicant company had received 86 inward remittances amounting to Rs. 53,96,32,532.95 from 28.12.1999 to 31.12.2014, out of which, 16 foreign inward remittances aggregating Rs.11,41,26,349.69 were reported with delay ranging from beyond the prescribed period from the date of receipt of consideration. The company had allotted equity shares on 8 occasions, out of which, on 7 occasions, equity shares amounting to Rs. 53,74,57,530.00 were issued from 21.03.2002 to 17.03.2015 to the foreign investors and reported in form FC-GPR with a delay beyond the prescribed period of from the date of issue of shares to person resident outside India.Further, the company had received 35 remittances amounting to Rs. 30,47,29,924.00 during the period 07.09.2004 to 28.01.2009 and had issued shares against these remittances with a delay beyond the prescribed period of 180 days of the receipt of the inward remittances or date of debit to the NRE/FCNR (B) account as the case may be. | 537,457,530 | 4,345,612 | |
| 331 | OOMS Avenhorn Holding India Pvt. Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI-Delay in allotment of shares beyond prescribed period | 1 months to 1 years 8 months and 29 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India.(iii) Delay in allotment of shares beyond prescribed period. | The company is engaged in the business of manufacturing and marketing of polymer products, crack fillings for asphalt concrete, etc.The applicant company had received 86 inward remittances amounting to Rs. 53,96,32,532.95 from 28.12.1999 to 31.12.2014, out of which, 16 foreign inward remittances aggregating Rs.11,41,26,349.69 were reported with delay ranging from beyond the prescribed period from the date of receipt of consideration. The company had allotted equity shares on 8 occasions, out of which, on 7 occasions, equity shares amounting to Rs. 53,74,57,530.00 were issued from 21.03.2002 to 17.03.2015 to the foreign investors and reported in form FC-GPR with a delay beyond the prescribed period of from the date of issue of shares to person resident outside India.Further, the company had received 35 remittances amounting to Rs. 30,47,29,924.00 during the period 07.09.2004 to 28.01.2009 and had issued shares against these remittances with a delay beyond the prescribed period of 180 days of the receipt of the inward remittances or date of debit to the NRE/FCNR (B) account as the case may be. | 304,729,924 | 4,345,612 | |
| 332 | New India BioPharma Pvt. Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of foreign inward remittance for issue of equity shares | 21 days to 2 months and 6 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India.(iii) Issue of shares without approval of FIPB | The company is engaged in the business of research, development, buying, selling, import, export and dealing in pharmaceutical, cosmecuticals health & wellness products.The applicant company had received 11 foreign inward remittances, out of which, 3 foreign inward remittances amounting to Rs.30,98,689.94 from 14.02.2013 to 10.11.2014 were reported beyond the prescribed period of 30 days from the date of receipt of remittance. The company had allotted equity shares on 7 occasions, out of which, on 4 occasions equity shares amounting to Rs.1,30,56,510.00 were issued from 10.08.2013 to 11.08.2014 to foreign investors and reported in form FC-GPR beyond 30 days from the date of issue of shares to a person resident outside India.On August 11, 2014, the company had issued 441261 equity shares on rights basis, without approval of the FIPB such investment in the pharmaceuticals sector is under the approval route. The company approached FIPB for post- facto approval and got the same vide letter F.No.77 (2015)/97 (2015) dated October 12, 2015, for inward remittances received since 2013, subject to compounding by RBI | 3,098,690 | 171,620 | |
| 333 | New India BioPharma Pvt. Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 2 months and 3 days to 3 months and 17 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India.(iii) Issue of shares without approval of FIPB | The company is engaged in the business of research, development, buying, selling, import, export and dealing in pharmaceutical, cosmecuticals health & wellness products.The applicant company had received 11 foreign inward remittances, out of which, 3 foreign inward remittances amounting to Rs.30,98,689.94 from 14.02.2013 to 10.11.2014 were reported beyond the prescribed period of 30 days from the date of receipt of remittance. The company had allotted equity shares on 7 occasions, out of which, on 4 occasions equity shares amounting to Rs.1,30,56,510.00 were issued from 10.08.2013 to 11.08.2014 to foreign investors and reported in form FC-GPR beyond 30 days from the date of issue of shares to a person resident outside India.On August 11, 2014, the company had issued 441261 equity shares on rights basis, without approval of the FIPB such investment in the pharmaceuticals sector is under the approval route. The company approached FIPB for post- facto approval and got the same vide letter F.No.77 (2015)/97 (2015) dated October 12, 2015, for inward remittances received since 2013, subject to compounding by RBI | 13,056,510 | 171,620 | |
| 334 | New India BioPharma Pvt. Ltd. | Sep/2016 | FDI | FEMA 20/2000-RB | FDI- Non submission of copy of FIPB approval for issue of shares | 7 months and 22 days to 2 years 4 months and 25 days. | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity; and (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India.(iii) Issue of shares without approval of FIPB | The company is engaged in the business of research, development, buying, selling, import, export and dealing in pharmaceutical, cosmecuticals health & wellness products.The applicant company had received 11 foreign inward remittances, out of which, 3 foreign inward remittances amounting to Rs.30,98,689.94 from 14.02.2013 to 10.11.2014 were reported beyond the prescribed period of 30 days from the date of receipt of remittance. The company had allotted equity shares on 7 occasions, out of which, on 4 occasions equity shares amounting to Rs.1,30,56,510.00 were issued from 10.08.2013 to 11.08.2014 to foreign investors and reported in form FC-GPR beyond 30 days from the date of issue of shares to a person resident outside India.On August 11, 2014, the company had issued 441261 equity shares on rights basis, without approval of the FIPB such investment in the pharmaceuticals sector is under the approval route. The company approached FIPB for post- facto approval and got the same vide letter F.No.77 (2015)/97 (2015) dated October 12, 2015, for inward remittances received since 2013, subject to compounding by RBI | 17,022,349 | 171,620 | |
| 335 | A.G. Technologies Private Limited | Oct/2016 | ODI | FEMA 120/RB-2004 | ODI- Delay in reporting Form ODI without UIN. | Beyond 60 days | (i) delayed reporting in Form ODI of investment made overseas in wholly owned subsidiary and overseas remittances without obtaining Unique Identification Number (UIN) (ii) nonsubmission of Annual Performance Reports | The applicant is engaged in the business of designing, developing, manufacturing and marketing of micro, mini and mainframe computers and computer based systems.The applicant had set up a wholly owned subsidiary (WOS), ‘AG Tech USA Inc’ in New York, USA under the Automatic Route, incorporated on August 1, 2002. The nature of activities undertaken by the overseas WOS was IT services.The applicant company subscribed to 100% shareholding in the WOS, “AG Tech USA Inc’’ by remitting USD 100 on March 6, 2007 through their Authorised Dealer, Canara Bank. Subsequently, a year later on March 26, 2008 an amount of USD 60,000 was remitted to the overseas WOS. The total amount of remittances of Rs. 24,13,012 made by the applicant company towards investment in the WOS in USA. Form ODA, in respect of the above remittances overseas was submitted to the AD bank (Canara Bank, Fort, Mumbai) on March 3, 2007 and March 26, 2008 respectively. However, the same was not submitted to Reserve Bank of India and UIN was not obtained by the applicant company, resulting in contravention of provisions | 2,413,012 | 148,000 | |
| 336 | A.G. Technologies Private Limited | Oct/2016 | ODI | FEMA 120/RB-2004 | ODI- Non submission of APR | 8 years | (i) delayed reporting in Form ODI of investment made overseas in wholly owned subsidiary and overseas remittances without obtaining Unique Identification Number (UIN) (ii) nonsubmission of Annual Performance Reports | The applicant is engaged in the business of designing, developing, manufacturing and marketing of micro, mini and mainframe computers and computer based systems.The applicant had set up a wholly owned subsidiary (WOS), ‘AG Tech USA Inc’ in New York, USA under the Automatic Route, incorporated on August 1, 2002. The nature of activities undertaken by the overseas WOS was IT services.The applicant company subscribed to 100% shareholding in the WOS, “AG Tech USA Inc’’ by remitting USD 100 on March 6, 2007 through their Authorised Dealer, Canara Bank. Subsequently, a year later on March 26, 2008 an amount of USD 60,000 was remitted to the overseas WOS. The total amount of remittances of Rs. 24,13,012 made by the applicant company towards investment in the WOS in USA. Form ODA, in respect of the above remittances overseas was submitted to the AD bank (Canara Bank, Fort, Mumbai) on March 3, 2007 and March 26, 2008 respectively. However, the same was not submitted to Reserve Bank of India and UIN was not obtained by the applicant company, resulting in contravention of provisions | 2,413,012 | 148,000 | |
| 337 | Bruker AXS Analytical Instruments Pvt. Ltd. | Oct/2016 | ECB | FEMA 3/2000-RB | B/L- No person resident in India shall borrow or lend in foreign exchange from or to a person resident in or outside India | 9 years and 6 months | Any person being resident in India not permitted to borrow or lend in foreign exchange from or to a person resident in or outside India. | The applicant company is engaged in the business of being a designer, manufacturer and supplier of proprietary life science and material research system and associated products. The company was provided by funds from Bruker AXS Gmbh from 2006 to 2011-12 to fulfill its working capital and other expenses in the form of debt as it was in a nascent stage. The remittances were credited to an employee’s bank account from October 19, 2006 to August 16, 2007.The Indian company was to receive Rs. 29,63,742 in 2008 from Bruker AXS Gmbh by way of commission which was adjusted against the Rs 44,00,000 payable by the company to the overseas parent during the financial years 2007-08 and 2008-09. The applicant was advised to remit the balance amount of Rs 14, 36,258 to Bruker AXS Gmbh and apply for compounding as foreign funding was availed in the form of debt without any prior approvals | 4,400,000 | 83,000 | |
| 338 | TripAdvisor Travel India Private Limited | Oct/2016 | ECB | FEMA 3/2000-RB | B/L- no person resident in India shall borrow or lend in foreign exchange from or to a person resident in or outside India | 2 years 8 m to 5 years 9 months | Borrowing in foreign exchange from its group companies abroad without meeting the stipulated conditions | The applicant is enageged in carrying on the business of launching and running the TripAdvisor India web site. The actual operations of the applicant commenced only in June, 2010, and some of the day-to-day expenses of the Company such as rent, salary, marketing expenses, employee reimbursements, professional fee and other expenses were paid by its Group Companies. The payments since remitted to the group companies, amounted to external commercial borrowings | 42,364,667 | 339,517 | |
| 339 | D. Navinchandra Exports Private Limited | Oct/2016 | ECB | FEMA 3/2000-RB | B/L- Non-repayment of foreign currency credit, extended by the overseas supplier of goods | 9 months | Nonrepayment of foreign currency credit, extended by the overseas supplier of goods | The firm is engaged in the business of trading and dealing in coarse and polished diamonds and other precious metals. The applicant had imported rough diamonds from M/s Dianco DMCC, UAE, on credit. RBI gave approval for repayment of the foreign currency credit beyond 180 days vide letter dated May 2, 2016, subject to compounding. | 62,211,330 | 361,057 | |
| 340 | Veen Waters (india) Private Limited | Oct/2016 | ODI | FEMA 120/RB-2004 | ODI- Delay in filing form ODI | 1.5 months to 3 years | (i) Delay in filing Form ODI and (ii) nonsubmission of Annual Performance Reports (APR) within the stipulated time period | The applicant is engaged in the business of production, trade, marketing and distribution of bottled water and other beverages. A Wholly Owned Subsidiary (WOS) of the applicant company, namely, Veen Waters Bhutan Private Limited was incorporated in Bhutan on November 26, 2013. The applicant company made the Overseas Direct Investments in the WOS amounting to Rs. 2,88,03,400. The Form ODI for the above investments was filed with delay. The Annual Performance Reports (APRs) for the years 2014 and 2015 were submitted on August 13, 2014 and December 29, 2015 respectively. | 28,803,400 | 249,167 | |
| 341 | Veen Waters (india) Private Limited | Oct/2016 | ODI | FEMA 120/RB-2004 | ODI- Non submission of APRs | 1.5 months to 3 years | (i) Delay in filing Form ODI and (ii) nonsubmission of Annual Performance Reports (APR) within the stipulated time period | The applicant is engaged in the business of production, trade, marketing and distribution of bottled water and other beverages. A Wholly Owned Subsidiary (WOS) of the applicant company, namely, Veen Waters Bhutan Private Limited was incorporated in Bhutan on November 26, 2013. The applicant company made the Overseas Direct Investments in the WOS amounting to Rs. 2,88,03,400. The Form ODI for the above investments was filed with delay. The Annual Performance Reports (APRs) for the years 2014 and 2015 were submitted on August 13, 2014 and December 29, 2015 respectively. | 28,803,400 | 249,167 | |
| 342 | Reliance Mediaworks Limited | Oct/2016 | ODI | FEMA 120/RB-2004 | ODI- Delay in reporting of refund of excess share application money, repatriated by its JV, and non-submission of documentation as an evidence of investment in the foreign entity within the stipulated time period. | 6 years | ODI Delay in reporting of refund of excess share application money, repatriated by its JV, and nonsubmission of documentation as an evidence of investment in the foreign entity within the stipulated time period. | The applicant is engaged in the business of film production, film distribution, film exhibition and other film and media related services. A Joint Venture (JV) of the applicant company, namely, HPE/Adlabs LP was incorporated in USA on June 9, 2006. The applicant remitted USD 10,000,000 to its JV in June, 2006. Out of this, USD 9,500,000 was invested in the JV. USD 500,000 was repatriated on July 22, 2009. The reporting for the above and submission of documentation as an evidence of investment in the foreign entity was done beyond the stipulated period of 6 months | 24,172,113 | 60,000 | |
| 343 | Alliance City Developers Realtors Private Limited | Oct/2016 | ECB | FEMA 3/2000-RB | B/L- Borrower is not eligible | 3 to 4 months | i) The borrower is not an eligible borrower in terms of ECB guidelines; (ii) utilization of ECB proceeds towards nonpermissible end use; (iii) draw down of the ECB without obtaining Loan Registration Number (LRN) from the Reserve Bank of India (RBI) and (iv) nonadherence to reporting requirements as applicable. | The applicant is engaged in the business of construction of buildings. The applicant was awarded a redevelopment project by Mulund (East) Cooperative Housing Society by the name of ‘Mandar Pushpa’. The applicant required funds for the purpose of payment of municipal corporation (BMC) premium and for making fixed deposit with Punjab National Bank for release of bank guarantee for the redevelopment project. The applicant entered into loan agreement dated February 01, 2016 with the NRI equity holder, Shri Saifuddin Abdulkader Katabjiwala, Kuwait, for availing External Commercial Borrowing (ECB) amounting to USD 2,000,000 for the above purposes. The ECB amounting to Rs. 3,17,89,574 did not fulfill the eligibility criteria as follows: i. The applicant was not eligible to raise ECB under the approval route on account of its business activity; ii. Purpose of the ECB viz., payment of premium to the municipal corporation and creation of fixed deposits for release of bank guarantee towards theredevelopment project were not permissible end uses under the ECB guidelines. iii. Drawdown of the loan was done before obtaining Loan Registration Number (LRN) from Reserve Bank of India (RBI). iv. The reporting requirements in respect of the loan were not fulfilled. | 31,789,574 | 209,000 | |
| 344 | Alliance City Developers Realtors Private Limited | Oct/2016 | ECB | FEMA 3/2000-RB | B/L- Misutilisation of ECB proceeds | 3 to 4 months | i) The borrower is not an eligible borrower in terms of ECB guidelines; (ii) utilization of ECB proceeds towards nonpermissible end use; (iii) draw down of the ECB without obtaining Loan Registration Number (LRN) from the Reserve Bank of India (RBI) and (iv) nonadherence to reporting requirements as applicable. | The applicant is engaged in the business of construction of buildings. The applicant was awarded a redevelopment project by Mulund (East) Cooperative Housing Society by the name of ‘Mandar Pushpa’. The applicant required funds for the purpose of payment of municipal corporation (BMC) premium and for making fixed deposit with Punjab National Bank for release of bank guarantee for the redevelopment project. The applicant entered into loan agreement dated February 01, 2016 with the NRI equity holder, Shri Saifuddin Abdulkader Katabjiwala, Kuwait, for availing External Commercial Borrowing (ECB) amounting to USD 2,000,000 for the above purposes. The ECB amounting to Rs. 3,17,89,574 did not fulfill the eligibility criteria as follows: i. The applicant was not eligible to raise ECB under the approval route on account of its business activity; ii. Purpose of the ECB viz., payment of premium to the municipal corporation and creation of fixed deposits for release of bank guarantee towards theredevelopment project were not permissible end uses under the ECB guidelines. iii. Drawdown of the loan was done before obtaining Loan Registration Number (LRN) from Reserve Bank of India (RBI). iv. The reporting requirements in respect of the loan were not fulfilled. | 31,789,574 | 209,000 | |
| 345 | Alliance City Developers Realtors Private Limited | Oct/2016 | ECB | FEMA 3/2000-RB | B/L- Failure to obtain LRN before draw down of ECB | 3 to 4 months | i) The borrower is not an eligible borrower in terms of ECB guidelines; (ii) utilization of ECB proceeds towards nonpermissible end use; (iii) draw down of the ECB without obtaining Loan Registration Number (LRN) from the Reserve Bank of India (RBI) and (iv) nonadherence to reporting requirements as applicable. | The applicant is engaged in the business of construction of buildings. The applicant was awarded a redevelopment project by Mulund (East) Cooperative Housing Society by the name of ‘Mandar Pushpa’. The applicant required funds for the purpose of payment of municipal corporation (BMC) premium and for making fixed deposit with Punjab National Bank for release of bank guarantee for the redevelopment project. The applicant entered into loan agreement dated February 01, 2016 with the NRI equity holder, Shri Saifuddin Abdulkader Katabjiwala, Kuwait, for availing External Commercial Borrowing (ECB) amounting to USD 2,000,000 for the above purposes. The ECB amounting to Rs. 3,17,89,574 did not fulfill the eligibility criteria as follows: i. The applicant was not eligible to raise ECB under the approval route on account of its business activity; ii. Purpose of the ECB viz., payment of premium to the municipal corporation and creation of fixed deposits for release of bank guarantee towards theredevelopment project were not permissible end uses under the ECB guidelines. iii. Drawdown of the loan was done before obtaining Loan Registration Number (LRN) from Reserve Bank of India (RBI). iv. The reporting requirements in respect of the loan were not fulfilled. | 31,789,574 | 209,000 | |
| 346 | Alliance City Developers Realtors Private Limited | Oct/2016 | ECB | FEMA 3/2000-RB | B/L- Non adherence to reporting requirements | 3 to 4 months | i) The borrower is not an eligible borrower in terms of ECB guidelines; (ii) utilization of ECB proceeds towards nonpermissible end use; (iii) draw down of the ECB without obtaining Loan Registration Number (LRN) from the Reserve Bank of India (RBI) and (iv) nonadherence to reporting requirements as applicable. | The applicant is engaged in the business of construction of buildings. The applicant was awarded a redevelopment project by Mulund (East) Cooperative Housing Society by the name of ‘Mandar Pushpa’. The applicant required funds for the purpose of payment of municipal corporation (BMC) premium and for making fixed deposit with Punjab National Bank for release of bank guarantee for the redevelopment project. The applicant entered into loan agreement dated February 01, 2016 with the NRI equity holder, Shri Saifuddin Abdulkader Katabjiwala, Kuwait, for availing External Commercial Borrowing (ECB) amounting to USD 2,000,000 for the above purposes. The ECB amounting to Rs. 3,17,89,574 did not fulfill the eligibility criteria as follows: i. The applicant was not eligible to raise ECB under the approval route on account of its business activity; ii. Purpose of the ECB viz., payment of premium to the municipal corporation and creation of fixed deposits for release of bank guarantee towards theredevelopment project were not permissible end uses under the ECB guidelines. iii. Drawdown of the loan was done before obtaining Loan Registration Number (LRN) from Reserve Bank of India (RBI). iv. The reporting requirements in respect of the loan were not fulfilled. | 31,789,574 | 209,000 | |
| 347 | Pradeep Kar | Oct/2016 | ODI | FEMA 120/RB-2004 | ODI- Failure to obtain RBI approval for acquisition of shares of a foreign entity | 4 years | Acquisition of shares of a foreign entity in lieu of Director’s remuneration, without prior approval of Reserve Bank of India. | The applicant company is engaged in the business of IT services. He is also holding the post of a non-executive Director on the board of ‘Únited Business Media’ (UBM) plc, an overseas multinational media company headquartered in London, UK. Being the Non-Executive Director of UBM plc, London, the applicant received directorship fees from the overseas company. The remuneration received was partly in the form of shares of the foreign company UBM plc. Accordingly, during the period from March 2007 up to November 2011, he had received a total number of 8100 shares as consideration for professional services rendered in the capacity of Director of the foreign company UBM plc. | 3,911,583 | 80,000 | |
| 348 | M.J. Scrap Private Limited | Oct/2016 | ODI | FEMA 120/RB-2004 | ODI- Delay in filing form ODI | 1 years 10 months | (i) Delay in filing Form ODI and (ii) making overseas investment without obtaining UIN. | The applicant is engaged in the business of trading in ferrous and non-ferrous metals. A Joint Venture (JV) of the applicant company, namely, Ace Ship Recycling Pte Ltd. was incorporated in Singapore on January 07, 2014. The Director of the applicant company made the following Overseas Direct Investment in the JV, towards incorporation expenses, on behalf of the applicant. The Form ODI for the above investment was filed with delay. The subsequent investment to the tune of USD 75000 (INR 4,66,50,000), was made by the applicant on January 29, 2014, but was reported in the Form ODI. | 46,650,489 | 103,500 | |
| 349 | M.J. Scrap Private Limited | Oct/2016 | ODI | FEMA 120/RB-2004 | ODI- Failure in obtaining UIN at the time of making investment outside India | 1 years 10 months | (i) Delay in filing Form ODI and (ii) making overseas investment without obtaining UIN. | The applicant is engaged in the business of trading in ferrous and non-ferrous metals. A Joint Venture (JV) of the applicant company, namely, Ace Ship Recycling Pte Ltd. was incorporated in Singapore on January 07, 2014. The Director of the applicant company made the following Overseas Direct Investment in the JV, towards incorporation expenses, on behalf of the applicant. The Form ODI for the above investment was filed with delay. The subsequent investment to the tune of USD 75000 (INR 4,66,50,000), was made by the applicant on January 29, 2014, but was reported in the Form ODI. | 46,650,489 | 103,500 | |
| 350 | Lloyd Electric and Engineering Limited | Oct/2016 | ECB | FEMA 3/2000-RB | B/L- Availing ECB from Non- recognised lender | 1 years 7 months | (i) Availing ECB from a nonrecognized lender (ii) noncompliance with average maturity period guidelines (iiI) drawdown of External Commercial Borrowing (ECB) before obtaining Loan Registration Number (LRN) from the Reserve Bank of India (RBI); and delay in meeting the reporting requirements. | The applicant is engaged in the business of manufacturing and supplying of evaporator and condenser coils for air conditioners and heat exchangers/ radiators serving the entire spectrum of Heating, Ventilation, Air Conditioning and Refrigeration (HVAC&R) industry. The applicant entered into a loan agreement dated January 27, 2015, with Lloyd Europe, a WOS of the applicant, to receive a loan of Euro 3,000,000 (INR 20,98,50,000), to be received in one or more tranches. The WOS was not an eligible lender, as per the provisions of FEMA, and the borrowing was thus in contravention of provisions of Paragraph 1(iii) of Schedule I to Notification No. FEMA 3/2000-RB. The average maturity period of the loan was 2.4 years, thus contravening Paragraph 1(v) of Schedule I to Notification No. FEMA 3/2000-RB dated 3rd May 2000. The date of drawdown of the loan was January 30, 2015. No Loan Registration Number (LRN) was obtained from RBI by the applicant before drawdown of the ECB, thus contravening the provisions of Paragraphs 1(xi) of Schedule I to Notification No. FEMA 3/2000-RB. There was also a delay in meeting the reporting requirements | 20,985,000 | 1,204,175 | |
| 351 | Lloyd Electric and Engineering Limited | Oct/2016 | ECB | FEMA 3/2000-RB | B/L- Amount of loan used for the purpose not permitted as per the norms of ECB | Beyond 3 years | (i) Availing ECB from a nonrecognized lender (ii) noncompliance with average maturity period guidelines (iiI) drawdown of External Commercial Borrowing (ECB) before obtaining Loan Registration Number (LRN) from the Reserve Bank of India (RBI); and delay in meeting the reporting requirements. | The applicant is engaged in the business of manufacturing and supplying of evaporator and condenser coils for air conditioners and heat exchangers/ radiators serving the entire spectrum of Heating, Ventilation, Air Conditioning and Refrigeration (HVAC&R) industry. The applicant entered into a loan agreement dated January 27, 2015, with Lloyd Europe, a WOS of the applicant, to receive a loan of Euro 3,000,000 (INR 20,98,50,000), to be received in one or more tranches. The WOS was not an eligible lender, as per the provisions of FEMA, and the borrowing was thus in contravention of provisions of Paragraph 1(iii) of Schedule I to Notification No. FEMA 3/2000-RB. The average maturity period of the loan was 2.4 years, thus contravening Paragraph 1(v) of Schedule I to Notification No. FEMA 3/2000-RB dated 3rd May 2000. The date of drawdown of the loan was January 30, 2015. No Loan Registration Number (LRN) was obtained from RBI by the applicant before drawdown of the ECB, thus contravening the provisions of Paragraphs 1(xi) of Schedule I to Notification No. FEMA 3/2000-RB. There was also a delay in meeting the reporting requirements | 20,985,000 | 1,204,175 | |
| 352 | Lloyd Electric and Engineering Limited | Oct/2016 | ECB | FEMA 3/2000-RB | B/L- Failure to obtain LRN before draw down of ECB | 1 years 7 months | (i) Availing ECB from a nonrecognized lender (ii) noncompliance with average maturity period guidelines (iiI) drawdown of External Commercial Borrowing (ECB) before obtaining Loan Registration Number (LRN) from the Reserve Bank of India (RBI); and delay in meeting the reporting requirements. | The applicant is engaged in the business of manufacturing and supplying of evaporator and condenser coils for air conditioners and heat exchangers/ radiators serving the entire spectrum of Heating, Ventilation, Air Conditioning and Refrigeration (HVAC&R) industry. The applicant entered into a loan agreement dated January 27, 2015, with Lloyd Europe, a WOS of the applicant, to receive a loan of Euro 3,000,000 (INR 20,98,50,000), to be received in one or more tranches. The WOS was not an eligible lender, as per the provisions of FEMA, and the borrowing was thus in contravention of provisions of Paragraph 1(iii) of Schedule I to Notification No. FEMA 3/2000-RB. The average maturity period of the loan was 2.4 years, thus contravening Paragraph 1(v) of Schedule I to Notification No. FEMA 3/2000-RB dated 3rd May 2000. The date of drawdown of the loan was January 30, 2015. No Loan Registration Number (LRN) was obtained from RBI by the applicant before drawdown of the ECB, thus contravening the provisions of Paragraphs 1(xi) of Schedule I to Notification No. FEMA 3/2000-RB. There was also a delay in meeting the reporting requirements | 20,985,000 | 1,204,175 | |
| 353 | Geometric Limited (I) | Oct/2016 | ODI | FEMA 120/RB-2004 | ODI- Non-submission of Annual Performance Reports (APRs) | 6 years 2 months | (i) nonsubmission of Annual Performance Reports (APRs) within the stipulated time period and (ii) nonreporting of disinvestment in its JV, within the stipulated time period | The applicant is engaged in the business of providing engineering solutions, services and technologies. The applicant set-up a Joint Venture (JV), Powerway Inc., USA on March 10, 1987. The total remittances of Rs. 3,09,12,489 were made to JV. The applicant did-not submit the Annual Performance Reports (APRs) for the years 2001 to 2003 and 2006 to 2010. The JV was dissolved on October 19, 2010. The applicant had created a provision for diminution in the full value of the investment in the JV in its financials of FY 2010-11. However the above disinvestment was reported on March 11, 2016, with a delay beyond the stipulated time period. | 20,985,000 | 398,333 | |
| 354 | Geometric Limited (I) | Oct/2016 | ODI | FEMA 120/RB-2004 | ODI- Non Reporting of disinvestment beyond 90 days from date of sale of shares/ securities in form ODI | 6 years and 2 months | (i) nonsubmission of Annual Performance Reports (APRs) within the stipulated time period and (ii) nonreporting of disinvestment in its JV, within the stipulated time period | The applicant is engaged in the business of providing engineering solutions, services and technologies. The applicant set-up a Joint Venture (JV), Powerway Inc., USA on March 10, 1987. The total remittances of Rs. 3,09,12,489 were made to JV. The applicant did-not submit the Annual Performance Reports (APRs) for the years 2001 to 2003 and 2006 to 2010. The JV was dissolved on October 19, 2010. The applicant had created a provision for diminution in the full value of the investment in the JV in its financials of FY 2010-11. However the above disinvestment was reported on March 11, 2016, with a delay beyond the stipulated time period. | 30,912,493 | 398,333 | |
| 355 | Geometric Limited (II) | Oct/2016 | ODI | FEMA 120/RB-2004 | ODI- Failure in making overseas investment by way of contribution to equity capital of JV | 12 years | (i) overseas investment in preferred stock of its JV, without having any equity contribution in it (ii) nonsubmission of Annual Performance Reports (APRs) within the stipulated time period and (iii) nonreporting of disinvestment in its JV, within the stipulated time period | The applicant is engaged in the business of providing engineering solutions, services and technologies. The applicant set-up a Joint Venture (JV), OnCourse Technologies Inc., USA on May 28, 1998. On December 31, 2004, the applicant entered into a stock purchase agreement to purchase 100% shares of Teksoft Inc., a subsidiary of OnCourse Technologies Inc. The payment for this was partly made in cash (USD 165,000) and partly by surrendering 269 stocks of OnCourse Technologies Limited. The investment in preference stock, without any prior equity investment in the JV. The applicant did-not submit the Annual Performance Reports (APRs). The disinvestment in OnCourse Technologies Inc., to the tune of USD 269,000 was done as per the Stock Purchase Agreement of December 31, 2004. However the above disinvestment was reported on August 06, 2016, with a delay beyond the stipulated time period | 11,723,020 | 738,756 | |
| 356 | Geometric Limited (II) | Oct/2016 | ODI | FEMA 120/RB-2004 | ODI- Non-submission of Annual Performance Reports (APRs) | 12 years | (i) overseas investment in preferred stock of its JV, without having any equity contribution in it (ii) nonsubmission of Annual Performance Reports (APRs) within the stipulated time period and (iii) nonreporting of disinvestment in its JV, within the stipulated time period | The applicant is engaged in the business of providing engineering solutions, services and technologies. The applicant set-up a Joint Venture (JV), OnCourse Technologies Inc., USA on May 28, 1998. On December 31, 2004, the applicant entered into a stock purchase agreement to purchase 100% shares of Teksoft Inc., a subsidiary of OnCourse Technologies Inc. The payment for this was partly made in cash (USD 165,000) and partly by surrendering 269 stocks of OnCourse Technologies Limited. The investment in preference stock, without any prior equity investment in the JV. The applicant did-not submit the Annual Performance Reports (APRs). The disinvestment in OnCourse Technologies Inc., to the tune of USD 269,000 was done as per the Stock Purchase Agreement of December 31, 2004. However the above disinvestment was reported on August 06, 2016, with a delay beyond the stipulated time period | 11,723,020 | 738,756 | |
| 357 | Geometric Limited (II) | Oct/2016 | ODI | FEMA 120/RB-2004 | ODI- Non Reporting of remittances in form ODI | 12 years | (i) overseas investment in preferred stock of its JV, without having any equity contribution in it (ii) nonsubmission of Annual Performance Reports (APRs) within the stipulated time period and (iii) nonreporting of disinvestment in its JV, within the stipulated time period | The applicant is engaged in the business of providing engineering solutions, services and technologies. The applicant set-up a Joint Venture (JV), OnCourse Technologies Inc., USA on May 28, 1998. On December 31, 2004, the applicant entered into a stock purchase agreement to purchase 100% shares of Teksoft Inc., a subsidiary of OnCourse Technologies Inc. The payment for this was partly made in cash (USD 165,000) and partly by surrendering 269 stocks of OnCourse Technologies Limited. The investment in preference stock, without any prior equity investment in the JV. The applicant did-not submit the Annual Performance Reports (APRs). The disinvestment in OnCourse Technologies Inc., to the tune of USD 269,000 was done as per the Stock Purchase Agreement of December 31, 2004. However the above disinvestment was reported on August 06, 2016, with a delay beyond the stipulated time period | 11,723,020 | 738,756 | |
| 358 | Geometric Limited (III) | Oct/2016 | ODI | FEMA 120/RB-2004 | ODI- Failure in making overseas investment by way of contribution to equity capital of JV | 12 years | (i) overseas investment in preferred stock of its JV, without having any equity contribution in it (ii) nonsubmission of Annual Performance Reports (APRs) within the stipulated time period and (iii) nonreporting of disinvestment in its JV, within the stipulated time period | The applicant is engaged in the business of providing engineering solutions, services and technologies. The applicant set-up a Joint Venture (JV), Virtual Supply Chain Engineering Inc., USA on January 25, 2001. The applicant acquired 28000 Series A preferred stocks of the JV, constituting 1.67% of shareholding,The above investment was done without any prior equity investment in the JV.The applicant did-not submit the Annual Performance Reports (APRs) for the years 2005 and 2006. The abovementioned stock was redeemed on October 18, 2006, whereby USD 210,497 was received by the applicant as the redemption amount. This amount included accrued and unpaid dividend of USD 10,497 (net of bank charges). However the above disinvestment was reported on March 18, 2016, with a delay beyond the stipulated time period. | 9,048,000 | 212,027 | |
| 359 | Geometric Limited (III) | Oct/2016 | ODI | FEMA 120/RB-2004 | ODI- Non-submission of Annual Performance Reports (APRs) | 12 years | (i) overseas investment in preferred stock of its JV, without having any equity contribution in it (ii) nonsubmission of Annual Performance Reports (APRs) within the stipulated time period and (iii) nonreporting of disinvestment in its JV, within the stipulated time period | The applicant is engaged in the business of providing engineering solutions, services and technologies. The applicant set-up a Joint Venture (JV), Virtual Supply Chain Engineering Inc., USA on January 25, 2001. The applicant acquired 28000 Series A preferred stocks of the JV, constituting 1.67% of shareholding,The above investment was done without any prior equity investment in the JV.The applicant did-not submit the Annual Performance Reports (APRs) for the years 2005 and 2006. The abovementioned stock was redeemed on October 18, 2006, whereby USD 210,497 was received by the applicant as the redemption amount. This amount included accrued and unpaid dividend of USD 10,497 (net of bank charges). However the above disinvestment was reported on March 18, 2016, with a delay beyond the stipulated time period. | 9,048,000 | 212,027 | |
| 360 | Geometric Limited (III) | Oct/2016 | ODI | FEMA 120/RB-2004 | ODI- Non Reporting of remittances in form ODI | 9 years 2 months | (i) overseas investment in preferred stock of its JV, without having any equity contribution in it (ii) nonsubmission of Annual Performance Reports (APRs) within the stipulated time period and (iii) nonreporting of disinvestment in its JV, within the stipulated time period | The applicant is engaged in the business of providing engineering solutions, services and technologies. The applicant set-up a Joint Venture (JV), Virtual Supply Chain Engineering Inc., USA on January 25, 2001. The applicant acquired 28000 Series A preferred stocks of the JV, constituting 1.67% of shareholding,The above investment was done without any prior equity investment in the JV.The applicant did-not submit the Annual Performance Reports (APRs) for the years 2005 and 2006. The abovementioned stock was redeemed on October 18, 2006, whereby USD 210,497 was received by the applicant as the redemption amount. This amount included accrued and unpaid dividend of USD 10,497 (net of bank charges). However the above disinvestment was reported on March 18, 2016, with a delay beyond the stipulated time period. | 9,520,779 | 212,027 | |
| 361 | Diagnosys Electronics (I) Private Limited | Oct/2016 | ECB | FEMA 3/2000-RB | ECB- Borrower not eligible to avail of ECB | 1 years | (i) Borrower not eligible to avail of ECB (ii) enduse of ECB proceeds not permissible (iii) average maturity period of the loan is not in compliance with the applicable norms for ECB and (iv) draw down of ECB before obtaining Loan Registration Number (LRN) from the Reserve Bank of India (RBI). | The applicant is in the business of sales and servicing of automated testing equipment/ software services.The applicant not being part of real sector, was not eligible to use ECB for capital expenditure in the service sectorThe applicant company had entered into a Loan agreement on September 21, 2015 with its group company Diagnosys System Inc., USA for an interest free loan of USD 170,000. The loan was agreed to be repaid in three unequal installments on March 31,2016, September 30, 2016 and March 31, 2017. The drawdown of USD 25,000 had occurred before allotment of the Loan Registration Number (LRN) by RBI. | 1,649,240 | 59,000 | |
| 362 | Diagnosys Electronics (I) Private Limited | Oct/2016 | ECB | FEMA 3/2000-RB | ECB- End use of ECB not permissible | 1 years | (i) Borrower not eligible to avail of ECB (ii) enduse of ECB proceeds not permissible (iii) average maturity period of the loan is not in compliance with the applicable norms for ECB and (iv) draw down of ECB before obtaining Loan Registration Number (LRN) from the Reserve Bank of India (RBI). | The applicant is in the business of sales and servicing of automated testing equipment/ software services.The applicant not being part of real sector, was not eligible to use ECB for capital expenditure in the service sectorThe applicant company had entered into a Loan agreement on September 21, 2015 with its group company Diagnosys System Inc., USA for an interest free loan of USD 170,000. The loan was agreed to be repaid in three unequal installments on March 31,2016, September 30, 2016 and March 31, 2017. The drawdown of USD 25,000 had occurred before allotment of the Loan Registration Number (LRN) by RBI. | 1,649,240 | 59,000 | |
| 363 | Diagnosys Electronics (I) Private Limited | Oct/2016 | ECB | FEMA 3/2000-RB | ECB- Amount of loan used for the purpose not permitted as per the norms of ECB | 1 years | (i) Borrower not eligible to avail of ECB (ii) enduse of ECB proceeds not permissible (iii) average maturity period of the loan is not in compliance with the applicable norms for ECB and (iv) draw down of ECB before obtaining Loan Registration Number (LRN) from the Reserve Bank of India (RBI). | The applicant is in the business of sales and servicing of automated testing equipment/ software services.The applicant not being part of real sector, was not eligible to use ECB for capital expenditure in the service sectorThe applicant company had entered into a Loan agreement on September 21, 2015 with its group company Diagnosys System Inc., USA for an interest free loan of USD 170,000. The loan was agreed to be repaid in three unequal installments on March 31,2016, September 30, 2016 and March 31, 2017. The drawdown of USD 25,000 had occurred before allotment of the Loan Registration Number (LRN) by RBI. | 1,649,240 | 59,000 | |
| 364 | Diagnosys Electronics (I) Private Limited | Oct/2016 | ECB | FEMA 3/2000-RB | ECB- Failure to obtain LRN before draw down of ECB | 1 years | (i) Borrower not eligible to avail of ECB (ii) enduse of ECB proceeds not permissible (iii) average maturity period of the loan is not in compliance with the applicable norms for ECB and (iv) draw down of ECB before obtaining Loan Registration Number (LRN) from the Reserve Bank of India (RBI). | The applicant is in the business of sales and servicing of automated testing equipment/ software services.The applicant not being part of real sector, was not eligible to use ECB for capital expenditure in the service sectorThe applicant company had entered into a Loan agreement on September 21, 2015 with its group company Diagnosys System Inc., USA for an interest free loan of USD 170,000. The loan was agreed to be repaid in three unequal installments on March 31,2016, September 30, 2016 and March 31, 2017. The drawdown of USD 25,000 had occurred before allotment of the Loan Registration Number (LRN) by RBI. | 1,649,240 | 59,000 | |
| 365 | Mr.Barry Kendal Dansie, Ms.Wendy Dansie, Mr.Derek Alfred Parker and Ms.Catherine Margaret Ingram | Oct/2016 | Acquisition and Transfer of Immovable Property | FEMA 21/2000-RB | Acquisition and Transfer of Immovable Property in India without prior approval of RBI | Beyond 6 months | Acquisition of immovable property by foreign national in Goa without obtaining prior permission of the Reserve Bank of India | The said immovable property known as Michelem alias Miquelem alias Canjirem consisting of residential house, cultivation of coconut and other trees, is situated at Deussa village in Chinchinim, Salcete, Goa. The property admeasuring 2075 square metres, under Matriz No.647 and surveyed under No.34/3 and 15/8 of Deussua Village in Chinchinim, Salcete Taluka, Goa. Since the residential status of the applicants at the time of acquisition of the said immovable property was that of a foreign national of non-Indian origin, and therefore, they were required to obtain prior permission of Reserve Bank for acquiring immovable property in India in terms of Section 31(1) of erstwhile FERA, 1973 read with Regulation 8 of Notification No.FEMA 21/2000-RB dated May 03, 2000, as amended from time to time. The applicants were granted permission to dispose of the property in question within a period of six months to a person eligible to acquire the same as per FEMA provisions with the condition that the sale proceeds are deposited to NRO account and subject to their filing compounding application for contraventioncommitted, subsequent to which the repatriation of funds would be subject to prior approval of the Reserve Bank. The immovable property was sold on March 09, 2016 for a consideration of Rs.90,00,000/- (Rupees Ninety Lakh only). | 9,000,000 | 3,000,000 | |
| 366 | Dymak India Services LLP | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- FDI in an LLP shall require prior FIPB approval in reporting of inflow of funds received from a person resident outside India for allotment of Capital Contribution and profit shares | (i) 793 days (ii) 194 days (iii) 543 days | (i) FDI in an LLP shall require prior FIPB approval in reporting of inflow of funds received from a person resident outside India for allotment of Capital Contribution and profit shares (ii)Delay in reporting and; (iii) Refund of excess money | Dymak India Services LLP has received USD 79,990/-(INR 44,53,523/-) on September 06,2012 as Foreign Direct Investment from Dymak A/s CVR 1975 7803, Holkebjergvej 120 Hojme, 5250,Odense SV, Denmark based company as its capital contribution. However, Indian company reported the foreign inward remittance to RBI (through its AD Bank: ICICI Bank Limited, Civil Lines Moradabad branch) towards FDI in equity and requested for allotment of Unique Identification Number (UIN).The activity of the LLP are to carry on the business of export, buy, sell as agent, wholesale trade, manufacture or otherwise deal in all kind of merchandise, edible oils, de-oiled and oiled cakes, soya bean, ground nut oil seeds,other oil bearing substances, and to carry on the business of buying agency.The applicant received foreign inward remittance amounting to Rs. 44,53523, through ICICI Bank, Moradabad (AD Bank) on September 06, 2012 without prior FIPB approval. the applicant received the amount of consideration on September 06, 2012 but reported it in Form Foreign Direct Investment - LLP (I) to RBI, beyomd 30 days from the date of receipt of consideration. The applicant company received foreign capital contribution of ₹44, 53,523/- on September 06, 2012, which was ₹ 4,53,523/- more than the foreign contribution actually required ( ₹40,00,000/-) and thus, the excess consideration of ₹4,53,523/- was refunded on May 03, 2016 beyond 180 days. | 4,453,523 | 119,766 | |
| 367 | Dymak India Services LLP | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of inflow of funds received from a person outside India | 194 days | (i) FDI in an LLP shall require prior FIPB approval in reporting of inflow of funds received from a person resident outside India for allotment of Capital Contribution and profit shares (ii)Delay in reporting and; (iii) Refund of excess money | Dymak India Services LLP has received USD 79,990/-(INR 44,53,523/-) on September 06,2012 as Foreign Direct Investment from Dymak A/s CVR 1975 7803, Holkebjergvej 120 Hojme, 5250,Odense SV, Denmark based company as its capital contribution. However, Indian company reported the foreign inward remittance to RBI (through its AD Bank: ICICI Bank Limited, Civil Lines Moradabad branch) towards FDI in equity and requested for allotment of Unique Identification Number (UIN).The activity of the LLP are to carry on the business of export, buy, sell as agent, wholesale trade, manufacture or otherwise deal in all kind of merchandise, edible oils, de-oiled and oiled cakes, soya bean, ground nut oil seeds,other oil bearing substances, and to carry on the business of buying agency.The applicant received foreign inward remittance amounting to Rs. 44,53523, through ICICI Bank, Moradabad (AD Bank) on September 06, 2012 without prior FIPB approval. the applicant received the amount of consideration on September 06, 2012 but reported it in Form Foreign Direct Investment - LLP (I) to RBI, beyomd 30 days from the date of receipt of consideration. The applicant company received foreign capital contribution of ₹44, 53,523/- on September 06, 2012, which was ₹ 4,53,523/- more than the foreign contribution actually required ( ₹40,00,000/-) and thus, the excess consideration of ₹4,53,523/- was refunded on May 03, 2016 beyond 180 days. | 4,453,523 | 119,766 | |
| 368 | Dymak India Services LLP | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in refund of excess amount beyond 180 days after obtaining RBI's permission | 543 days | (i) FDI in an LLP shall require prior FIPB approval in reporting of inflow of funds received from a person resident outside India for allotment of Capital Contribution and profit shares (ii)Delay in reporting and; (iii) Refund of excess money | Dymak India Services LLP has received USD 79,990/-(INR 44,53,523/-) on September 06,2012 as Foreign Direct Investment from Dymak A/s CVR 1975 7803, Holkebjergvej 120 Hojme, 5250,Odense SV, Denmark based company as its capital contribution. However, Indian company reported the foreign inward remittance to RBI (through its AD Bank: ICICI Bank Limited, Civil Lines Moradabad branch) towards FDI in equity and requested for allotment of Unique Identification Number (UIN).The activity of the LLP are to carry on the business of export, buy, sell as agent, wholesale trade, manufacture or otherwise deal in all kind of merchandise, edible oils, de-oiled and oiled cakes, soya bean, ground nut oil seeds,other oil bearing substances, and to carry on the business of buying agency.The applicant received foreign inward remittance amounting to Rs. 44,53523, through ICICI Bank, Moradabad (AD Bank) on September 06, 2012 without prior FIPB approval. the applicant received the amount of consideration on September 06, 2012 but reported it in Form Foreign Direct Investment - LLP (I) to RBI, beyomd 30 days from the date of receipt of consideration. The applicant company received foreign capital contribution of ₹44, 53,523/- on September 06, 2012, which was ₹ 4,53,523/- more than the foreign contribution actually required ( ₹40,00,000/-) and thus, the excess consideration of ₹4,53,523/- was refunded on May 03, 2016 beyond 180 days. | 453,523 | 119,766 | |
| 369 | Viraf P Deboo | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- No person being Indian Resident shall make any investment outside India | 6 years and 6 months | No person being Indian Resident shall make any investment outside India | Jyoti Ceramic Industries Pvt. Ltd (Add CIN) is an Indian Company engaged in manufacturing of ceramics. The company had invested Euro 75,000 in shares of Jyoti Ceramic, GmbH, acquiring 75% of stake of the overseas entity. The Applicant, Shri Viraf P. Deboo, a resident individual, being one of the promoters of Jyoti Ceramic, GmbH had made investment Euro 1250 in order to acquire 1.25% stake in shares of the overseas entity on February 24, 2007 under LRS. Overseas Direct Investment by resident individuals. | 73,745 | 48,400 | |
| 370 | Raju Shyam Merani | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- No person being Indian Resident shall make any investment outside India | 6 years and 6 months | Indian resident promoter made investment in company outside India | The applicant Shri Raju Shyam Merani is an Indian resident individual and one of the promoters of Jyoti Ceramic Industries Pvt Ltd (JCIPL), which is incorporated in India and engaged in the business of manufacturing technical ceramics in wide variety of ceramics materials.The applicant Shri Raju Shyam Merani, one of the five resident individuals has made overseas investment EURO 7500 for acquiring the 7.5% stake in the overseas entity under Liberalised remittance scheme (LRS) on February 23, 2007 which is not in line with Regulation 5(1). | 439,850 | 53,300 | |
| 371 | Anita R Merani | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- No person being Indian Resident shall make any investment outside India | 6 years and 6 months | Indian resident promoter made investment in company outside India | The applicant Mrs Anita R. Merani is an Indian resident individual and close relative of the promoters of Jyoti Ceramic Industries Pvt Ltd (JCIPL), which is incorporated in India and engaged in the business of manufacturing technical ceramics in wide variety of ceramics materials. The applicant Mrs Anita Raju Merani, one of the five resident individuals has made overseas investment of EURO 1250 for acquiring the 1.25% stake in the overseas entity under Liberalised remittance scheme (LRS) which is not in line with Regulation 5(1). | 73,745 | 47,760 | |
| 372 | Late Shyam Alidas Merani | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- No person being Indian Resident shall make any investment outside India | 6 years and 6 months | Indian resident promoter made investment in company outside India | The applicant Shri Raju Shyam Merani who is the legal heir of his father late Shyam Alidas Merani and on his behalf, had submitted a compounding application. Shri Raju Shyam Merani is an Indian resident individual and his father Shri Shyam ALidas Merani was no more with effect from March 8, 2013. Both of them with others had promoted an Indian company named as “Jyoti Ceramic Industries Pvt Ltd” (JCIPL), which was incorporated under Companies Act, 1956 in India and engaged in the business of manufacturing technical ceramics in wide variety of ceramics materials. The JCIPL had promoted an overseas entity in Germany namely “Jyoti Ceramic GmbH” which was incorporated in Germany on March 14, 2007 for the purposes of business of marketing and distribution of Technical Ceramic products. Shri Shyam Alidas Merani, one of the five resident individuals had made overseas investment of EURO 7500 for acquiring 7.5% stake in the overseas entity under Liberalised remittance scheme (LRS) on February 23, 2007 which is not in line with Regulation 5(1). | 439,850 | 53,300 | |
| 373 | Oneglobe Systems LLP | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Failure in obtaining FIPB approval for receipt of foreign inward remittances from foreign investors | 1 years and 2 months | FDI Failure in obtaining FIPB approval for receipt of foreign inward remittances from foreign investors | The applicant company being an LLP received foreign inward remittances on various dates without an approval from FIPB. The remittances received by the LLP amoounting to Rs. 53,63,889. | 5,363,889 | 85,000 | |
| 374 | Insight Media City (India) Private Limited | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Failure in obtaining FIPB approval for receipt of foreign inward remittances from foreign investors | 2.5 years | FDI Failure in obtaining FIPB approval for receipt of foreign inward remittances from foreign investors | The applicant is engaged in the business of broadcasting content services. The applicant received the remittances from non-resident investors amounting to Rs. 2,40,00,065. As the activity of broadcasting content services belonged to the government approval, the receipt of abovementioned remittances required prior FIPB approval., but the applicant failed to obtain the approval of FIPB. | 24,000,065 | 194,000 | |
| 375 | Kapil Gupta | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- No person being Indian Resident shall make any investment outside India | 3 years | (i)No person being Indian Resident shall make any investment outside India(ii)Delay in reporting of Form ODI of overseas investment in a Joint Venture and overseas remittances without obtaining Unique Identification Number (UIN) | The applicant is engaged in the business of sale of books, journals and periodicals. He set up a wholly owned subsidiary in Tokyo, Japan by the name ‘Print Asia Co. Ltd’. on June 9, 2008 in order to sell books to Japanese customers comprising of Universities, professors, students etc. The applicant initially remitted an amount of JPY 90,000 towards investment in the share capital of the WOS overseas. Further, in order to increase the investment, the applicant remitted an amount of JPY 90,000 through the AD.the overseas direct investment made by the applicant on June 15, 2008 amounting to INR 45,000 /- which was used under Liberalised Remittance Scheme (LRS) prior to August 5, 2013, by a resident individual for investing in a company abroad was not a permissible capital account transaction and is in contravention of Regulation 5 (1). The second remittance made by the applicant on October 15, 2013 pertained to the same investment in the WOS in Japan. The applicant had not reported the mentioned investments to RBI or obtained the UIN within the stipulated period. | 3,245,000 | 69,000 | |
| 376 | Alamode Hotels Pvt Ltd | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-TRS | 2 years 9 months and 22 days | Delay in submission of form FCTRS beyond the stipulated period of time. | The applicant company is engaged in the business of hotel and hospitality services and consultancy to clients. The applicant remitted Rs 50,07,588 (USD 89,790) towards transfer of 500 equity shares from M/s Steinhoff Europe AG, Switzerland on August 7, 2012 and filed form FC-TRS to AD bank on July 29, 2015.Reserve Bank, Kolkata Regional Office, Kolkata vide letter dated October 14, 2015 advised the AD bank to take form FC-TRS on record and AD certified the form FC-TRS. The applicant submitted Form FC-TRS to AD category-I Bank beyond 60 days from the date of receipt/ payment of the amount of consideration. | 5,007,588 | 29,810 | |
| 377 | Freeset Business Incubators Pvt Ltd | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of inflow of funds received from a person outside India | 11 days to 3 m and 3 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares, and (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The main objective of the applicant is market research and business consultation services. The applicant received foreign inward remittances from two foreign investors namely M/s Freeset International Limited, New Zealand and M/s Marketplacers International Limited, New Zealand towards subscription to equity shares. The applicant reported receipt of advance remittances amounting to Rs 17,50,61,251.92/- to Kolkata Regional Office of Reserve Bank beyond 30 days from the date of receipt of the amount of consideration. The company allotted equity shares and filed FC-GPR. The applicant filed form FC-GPRs and submitted to RBI beyond 30 days from the date of issue of shares to person resident out of India. | 144,693,781 | 192,455 | |
| 378 | Freeset Business Incubators Pvt Ltd | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 1 m 6 days to 11 m 13 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares, and (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The main objective of the applicant is market research and business consultation services. The applicant received foreign inward remittances from two foreign investors namely M/s Freeset International Limited, New Zealand and M/s Marketplacers International Limited, New Zealand towards subscription to equity shares. The applicant reported receipt of advance remittances amounting to Rs 17,50,61,251.92/- to Kolkata Regional Office of Reserve Bank beyond 30 days from the date of receipt of the amount of consideration. The company allotted equity shares and filed FC-GPR. The applicant filed form FC-GPRs and submitted to RBI beyond 30 days from the date of issue of shares to person resident out of India. | 148,706,430 | 192,455 | |
| 379 | B2fays Creation Pvt Ltd. | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of inflow of funds received from a person outside India | 2 months 1 days | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares; (ii)delay in submission of Form FCGPR on allotment of shares with Reserve Bank, and (iii) delay in refund of excess inward remittance received to the nonresident investor | The applicant is engaged in Activities of sculptors, painters, cartoonists, engravers, etchers etc. The applicant received foreign inward remittances from Ms Beatrice Francoise Marie De Fays, France towards subscription to equity shares and reported the same to the Reserve Bank. The applicant reported receipt of the remittance to the Reserve Bank beyond 30 days from the date of receipt of the amount of consideration. The company allotted equity shares and filed FC-GPR. The applicant filed form FC-GPRs and submitted to RBI beyond 30 days from the date of issue of shares to person resident out of India.The excess amount of ₹ 8,355/- (inward remittance of 1,08,255/- received on 27.04.2012) remaining after allotment of shares on 27.04.2012 was refunded on 27.06.2016, with the prior approval of Reserve Bank beyond 180 days from the date of receipt of the inward remittance. | 108,255 | 31,490 | |
| 380 | B2fays Creation Pvt Ltd. | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 3 years 6 m 26 days | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares; (ii)delay in submission of Form FCGPR on allotment of shares with Reserve Bank, and (iii) delay in refund of excess inward remittance received to the nonresident investor | The applicant is engaged in Activities of sculptors, painters, cartoonists, engravers, etchers etc. The applicant received foreign inward remittances from Ms Beatrice Francoise Marie De Fays, France towards subscription to equity shares and reported the same to the Reserve Bank. The applicant reported receipt of the remittance to the Reserve Bank beyond 30 days from the date of receipt of the amount of consideration. The company allotted equity shares and filed FC-GPR. The applicant filed form FC-GPRs and submitted to RBI beyond 30 days from the date of issue of shares to person resident out of India.The excess amount of ₹ 8,355/- (inward remittance of 1,08,255/- received on 27.04.2012) remaining after allotment of shares on 27.04.2012 was refunded on 27.06.2016, with the prior approval of Reserve Bank beyond 180 days from the date of receipt of the inward remittance. | 99,990 | 31,490 | |
| 381 | B2fays Creation Pvt Ltd. | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in refund of excess share application money to the foreign investor | 3 years 8 months 1 days | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares; (ii)delay in submission of Form FCGPR on allotment of shares with Reserve Bank, and (iii) delay in refund of excess inward remittance received to the nonresident investor | The applicant is engaged in Activities of sculptors, painters, cartoonists, engravers, etchers etc. The applicant received foreign inward remittances from Ms Beatrice Francoise Marie De Fays, France towards subscription to equity shares and reported the same to the Reserve Bank. The applicant reported receipt of the remittance to the Reserve Bank beyond 30 days from the date of receipt of the amount of consideration. The company allotted equity shares and filed FC-GPR. The applicant filed form FC-GPRs and submitted to RBI beyond 30 days from the date of issue of shares to person resident out of India.The excess amount of ₹ 8,355/- (inward remittance of 1,08,255/- received on 27.04.2012) remaining after allotment of shares on 27.04.2012 was refunded on 27.06.2016, with the prior approval of Reserve Bank beyond 180 days from the date of receipt of the inward remittance. | (i) 1,08,255 (ii) 99,990 (ii) 8,355 | 31,490 | |
| 382 | CSB Services Asia Pacific Pvt Ltd. | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of inflow of funds received from a person outside India | 8 m 25 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares; (ii) delay in refund of inward remittance received to the nonresident investor | The applicant is engaged in Business of Computer programming activities. The applicant received foreign inward remittance from M/s.CSB Systems AG, Switzerland towards subscription to equity shares and reported the same to the Reserve Bank. The applicant reported receipt of the remittance to the Reserve Bank beyond the stipulated time of 30 days in respect of the remittance from the date of receipt of the amount of consideration.The company failed to allot shares against the inward remittance and refunded the inward remittance with prior approval of Reserve Bank beyond the period of 180 days from the date of receipt of inward remittance. | 368,653 | 57,685 | |
| 383 | CSB Services Asia Pacific Pvt Ltd. | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in refund of excess share application money to the foreign investor | 1 years 3 m 2 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares; (ii) delay in refund of inward remittance received to the nonresident investor | The applicant is engaged in Business of Computer programming activities. The applicant received foreign inward remittance from M/s.CSB Systems AG, Switzerland towards subscription to equity shares and reported the same to the Reserve Bank. The applicant reported receipt of the remittance to the Reserve Bank beyond the stipulated time of 30 days in respect of the remittance from the date of receipt of the amount of consideration.The company failed to allot shares against the inward remittance and refunded the inward remittance with prior approval of Reserve Bank beyond the period of 180 days from the date of receipt of inward remittance. | 368,653 | 57,685 | |
| 384 | Hale Electronics India Pvt Ltd | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of inflow of funds received from a person outside India | 3 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares, and (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The company is engaged in Business of wholesale trade in electronic equipment and accessories. The applicant received foreign inward remittance from (i) M/s Hale Electronics LLC, USA and (ii) M/s Sorcion LLC, USA towards subscription to equity shares and reported the same to the Reserve Bank. The applicant reported receipt of remittances to the Reserve Bank later than 30 days from the date of receipt of the amount of consideration. The company allotted equity shares and filed FC-GPRs. Further, the applicant submitted form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India. | 1,362,487 | 22,650 | |
| 385 | Hale Electronics India Pvt Ltd | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 10 days to 5 months 28 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares, and (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The company is engaged in Business of wholesale trade in electronic equipment and accessories. The applicant received foreign inward remittance from (i) M/s Hale Electronics LLC, USA and (ii) M/s Sorcion LLC, USA towards subscription to equity shares and reported the same to the Reserve Bank. The applicant reported receipt of remittances to the Reserve Bank later than 30 days from the date of receipt of the amount of consideration. The company allotted equity shares and filed FC-GPRs. Further, the applicant submitted form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India. | 17,585,600 | 22,650 | |
| 386 | Jumbo Seafoods Pvt Ltd | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of inflow of funds received from a person outside India | 14 days to 8 months 5 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares, and (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The applicant is is engaged in Business of Restaurants without bars. The applicant received foreign inward remittances from 1) Shri Mohamed Shafraz Anees, 2) Shri Mohammed Hussain Mohammed Anees, 3) Ms Rehana Naznie Anees, Sri Lanka towards subscription to equity shares and reported the same to the Reserve Bank.Out of total remittances, few remittances were reported to RBI beyond 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs Further, the applicant submitted form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India. | 9,047,291 | 32,225 | |
| 387 | Jumbo Seafoods Pvt Ltd | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 2 months 17 days to 6 m 13 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares, and (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The applicant is is engaged in Business of Restaurants without bars. The applicant received foreign inward remittances from 1) Shri Mohamed Shafraz Anees, 2) Shri Mohammed Hussain Mohammed Anees, 3) Ms Rehana Naznie Anees, Sri Lanka towards subscription to equity shares and reported the same to the Reserve Bank.Out of total remittances, few remittances were reported to RBI beyond 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs Further, the applicant submitted form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India. | 13,024,340 | 32,225 | |
| 388 | Urbanedge Hotels Pvt Ltd. | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of inflow of funds received from a person outside India | 1 days to 8 months 7 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares, and (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank.(iii) Delay in issue of shares/refund of share application money beyond 180 days | The applicant is engaged in Business of Construction of buildings carried out on own-account basis or on a fee or contract basis. The applicant received foreign inward remittance from CPI India I Limited, Mauritius towards subscription to equity shares and reported the same to the Reserve Bank. Out of total remittances, few remittances were reported to RBI beyond 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs Further, the applicant submitted form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India.The applicant was advised to deposit ₹ 43,98,350/- to the Reserve Bank of India within 15 days from the date of the order. The applicant made allotment of shares against inward remittances beyond the period of 180 days. | 1,087,485,364 | 4,847,350 | |
| 389 | Urbanedge Hotels Pvt Ltd. | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 1 days to 10 months 11 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares, and (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank.(iii) Delay in issue of shares/refund of share application money beyond 180 days | The applicant is engaged in Business of Construction of buildings carried out on own-account basis or on a fee or contract basis. The applicant received foreign inward remittance from CPI India I Limited, Mauritius towards subscription to equity shares and reported the same to the Reserve Bank. Out of total remittances, few remittances were reported to RBI beyond 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs Further, the applicant submitted form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India.The applicant was advised to deposit ₹ 43,98,350/- to the Reserve Bank of India within 15 days from the date of the order. The applicant made allotment of shares against inward remittances beyond the period of 180 days. | 3,636,028,861 | 4,847,350 | |
| 390 | Urbanedge Hotels Pvt Ltd. | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in issue/ refund of shares beyond the prescribed period | 4 months 11 days to 5 m 8 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares, and (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank.(iii) Delay in issue of shares/refund of share application money beyond 180 days | The applicant is engaged in Business of Construction of buildings carried out on own-account basis or on a fee or contract basis. The applicant received foreign inward remittance from CPI India I Limited, Mauritius towards subscription to equity shares and reported the same to the Reserve Bank. Out of total remittances, few remittances were reported to RBI beyond 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs Further, the applicant submitted form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India.The applicant was advised to deposit ₹ 43,98,350/- to the Reserve Bank of India within 15 days from the date of the order. The applicant made allotment of shares against inward remittances beyond the period of 180 days. | 567,982,760 | 4,847,350 | |
| 391 | Tradeline Enterprises Pvt Ltd. | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of inflow of funds received from a person outside India | 16 days to 3 years 4 months 8 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares, and (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank.(iii) allotting shares to nonresident remitter / investor beyond the prescribed period of 180 days without prior approval of RBI and allotment of shares to the nonresident investor prior to receipt of inward remittance and (iv) allotment of shares against other funds payable by the investee company without prior approval of FIPB | The company is is engaged in the business of manufacture and export of cotton yarn. The applicant received foreign inward remittance from M/s. Trade Line Far East Pte Ltd, Singapore towards subscription to equity shares and reported the same to the Reserve Bank. The applicant reported receipt of part remittances to the Reserve Bank beyond the stipulated time of 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs. The applicant filed form FC-GPR and submitted to RBI beyond 30 days from the date of issue of shares to person resident outside India.The company allotted shares on 04.06.2008 and 31.07.2010 against the five inward remittances amounting to ₹ 2,52,76,851/- received between 12.09.2007 and 12.01.2010 beyond the stipulated period of 180 days without prior approval of RBI. The company allotted shares for ₹ 72,51,000/- on 04.06.2008 against inward remittances received from 12.09.2007 to 19.05.2008 amounting to ₹ 70,55,006/- and also for an amount of ₹ 1,95,994/- which was a part of ₹ 1,97,350/- that the investee company owed to the overseas company without the prior approval of FIPB. | 48,588,388 | 667,403 | |
| 392 | Tradeline Enterprises Pvt Ltd. | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 1 years 10 months 14 days to 2 years 9 months 20 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares, and (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank.(iii) allotting shares to nonresident remitter / investor beyond the prescribed period of 180 days without prior approval of RBI and allotment of shares to the nonresident investor prior to receipt of inward remittance and (iv) allotment of shares against other funds payable by the investee company without prior approval of FIPB | The company is is engaged in the business of manufacture and export of cotton yarn. The applicant received foreign inward remittance from M/s. Trade Line Far East Pte Ltd, Singapore towards subscription to equity shares and reported the same to the Reserve Bank. The applicant reported receipt of part remittances to the Reserve Bank beyond the stipulated time of 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs. The applicant filed form FC-GPR and submitted to RBI beyond 30 days from the date of issue of shares to person resident outside India.The company allotted shares on 04.06.2008 and 31.07.2010 against the five inward remittances amounting to ₹ 2,52,76,851/- received between 12.09.2007 and 12.01.2010 beyond the stipulated period of 180 days without prior approval of RBI. The company allotted shares for ₹ 72,51,000/- on 04.06.2008 against inward remittances received from 12.09.2007 to 19.05.2008 amounting to ₹ 70,55,006/- and also for an amount of ₹ 1,95,994/- which was a part of ₹ 1,97,350/- that the investee company owed to the overseas company without the prior approval of FIPB. | 48,894,171 | 667,403 | |
| 393 | Tradeline Enterprises Pvt Ltd. | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Failure to obtain RBI approval for allotment of shares to NR | 1 months 13 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares, and (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank.(iii) allotting shares to nonresident remitter / investor beyond the prescribed period of 180 days without prior approval of RBI and allotment of shares to the nonresident investor prior to receipt of inward remittance and (iv) allotment of shares against other funds payable by the investee company without prior approval of FIPB | The company is is engaged in the business of manufacture and export of cotton yarn. The applicant received foreign inward remittance from M/s. Trade Line Far East Pte Ltd, Singapore towards subscription to equity shares and reported the same to the Reserve Bank. The applicant reported receipt of part remittances to the Reserve Bank beyond the stipulated time of 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs. The applicant filed form FC-GPR and submitted to RBI beyond 30 days from the date of issue of shares to person resident outside India.The company allotted shares on 04.06.2008 and 31.07.2010 against the five inward remittances amounting to ₹ 2,52,76,851/- received between 12.09.2007 and 12.01.2010 beyond the stipulated period of 180 days without prior approval of RBI. The company allotted shares for ₹ 72,51,000/- on 04.06.2008 against inward remittances received from 12.09.2007 to 19.05.2008 amounting to ₹ 70,55,006/- and also for an amount of ₹ 1,95,994/- which was a part of ₹ 1,97,350/- that the investee company owed to the overseas company without the prior approval of FIPB. | 1,043,400 | 667,403 | |
| 394 | Tradeline Enterprises Pvt Ltd. | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Failure to obtain FIPB approval for allotment of shares | 6 years 3 m 13 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares, and (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank.(iii) allotting shares to nonresident remitter / investor beyond the prescribed period of 180 days without prior approval of RBI and allotment of shares to the nonresident investor prior to receipt of inward remittance and (iv) allotment of shares against other funds payable by the investee company without prior approval of FIPB | The company is is engaged in the business of manufacture and export of cotton yarn. The applicant received foreign inward remittance from M/s. Trade Line Far East Pte Ltd, Singapore towards subscription to equity shares and reported the same to the Reserve Bank. The applicant reported receipt of part remittances to the Reserve Bank beyond the stipulated time of 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs. The applicant filed form FC-GPR and submitted to RBI beyond 30 days from the date of issue of shares to person resident outside India.The company allotted shares on 04.06.2008 and 31.07.2010 against the five inward remittances amounting to ₹ 2,52,76,851/- received between 12.09.2007 and 12.01.2010 beyond the stipulated period of 180 days without prior approval of RBI. The company allotted shares for ₹ 72,51,000/- on 04.06.2008 against inward remittances received from 12.09.2007 to 19.05.2008 amounting to ₹ 70,55,006/- and also for an amount of ₹ 1,95,994/- which was a part of ₹ 1,97,350/- that the investee company owed to the overseas company without the prior approval of FIPB. | 195,944 | 667,403 | |
| 395 | SIAMP India Private Limited | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of inflow of funds received from a person outside India | 9 to 109 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares, and (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank.(iii) Delay in issue of shares/refund of share application money beyond 180 days | The applicant company is engaged in carrying on business of manufacturing of baths, wash-basins, and lavatory pans. The applicant company has received total six inflows amounting to ₹ 9,19,93,467/- from Foreign investors under automatic route and reported the same to Reserve Bank of India. The applicant reported the receipt of six inward remittances, amounting to ₹ 919.93/- lakh (₹9,19,93,467/-) to the Ahmedabad Regional Office of the Reserve Bank of India. While the three inflows amounting to ₹ 3,98,00,410/- were reported within stipulated period, three inflows amounting to ₹ 5,21,93,057/- were reported later than 30 days from the date of receipt of the amount of consideration.The applicant allotted equity shares and filed FC-GPRs. the applicant has filed four form FC-GPRs amounting to ₹ 9,04,94,744/-. However, two FC-GPRs amounting to ₹1,51,00,000 /- were reported beyond 30 days from the date of issue of shares to the overseas investor. The company has allotted 7673 shares amounting to ₹ 2,89,96,287 beyond within 180 days from the date of receipt of the inward remittance. | 52,193,057 | 207,816 | |
| 396 | SIAMP India Private Limited | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 21 and 72 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares, and (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The applicant company is engaged in carrying on business of manufacturing of baths, wash-basins, and lavatory pans. The applicant company has received total six inflows amounting to ₹ 9,19,93,467/- from Foreign investors under automatic route and reported the same to Reserve Bank of India. The applicant reported the receipt of six inward remittances, amounting to ₹ 919.93/- lakh (₹9,19,93,467/-) to the Ahmedabad Regional Office of the Reserve Bank of India. While the three inflows amounting to ₹ 3,98,00,410/- were reported within stipulated period, three inflows amounting to ₹ 5,21,93,057/- were reported later than 30 days from the date of receipt of the amount of consideration.The applicant allotted equity shares and filed FC-GPRs. the applicant has filed four form FC-GPRs amounting to ₹ 9,04,94,744/-. However, two FC-GPRs amounting to ₹1,51,00,000 /- were reported beyond 30 days from the date of issue of shares to the overseas investor. The company has allotted 7673 shares amounting to ₹ 2,89,96,287 beyond within 180 days from the date of receipt of the inward remittance. | 15,100,000 | 207,816 | |
| 397 | SIAMP India Private Limited | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in issue/ refund of shares beyond the prescribed period | 94 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares, and (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank.(iii) Delay in issue of shares/refund of share application money beyond 180 days | The applicant company is engaged in carrying on business of manufacturing of baths, wash-basins, and lavatory pans. The applicant company has received total six inflows amounting to ₹ 9,19,93,467/- from Foreign investors under automatic route and reported the same to Reserve Bank of India. The applicant reported the receipt of six inward remittances, amounting to ₹ 919.93/- lakh (₹9,19,93,467/-) to the Ahmedabad Regional Office of the Reserve Bank of India. While the three inflows amounting to ₹ 3,98,00,410/- were reported within stipulated period, three inflows amounting to ₹ 5,21,93,057/- were reported later than 30 days from the date of receipt of the amount of consideration.The applicant allotted equity shares and filed FC-GPRs. the applicant has filed four form FC-GPRs amounting to ₹ 9,04,94,744/-. However, two FC-GPRs amounting to ₹1,51,00,000 /- were reported beyond 30 days from the date of issue of shares to the overseas investor. The company has allotted 7673 shares amounting to ₹ 2,89,96,287 beyond within 180 days from the date of receipt of the inward remittance. | 28,996,267 | 207,816 | |
| 398 | Repal Renewables Pvt. Ltd. | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 11 days to 1 months 16 days | FDI Delay in submission of form FCGPRs | The company is engaged in the business of generation, accumulating, distributing and supplying solar energy.The company allotted equity shares and filed Form FC-GPRs.The applicant filed form FC-GPR for issue of shares amounting to 7,23,78,400, out of this few issue of shares were not reported to RBI within the period of 30 days from the date of issue of shares to person resident outside India. | 72,378,400 | 22,500 | |
| 399 | Omnimed Solutions Pvt. Ltd. | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of inflow of funds received from a person outside India | 20 days to 1 months | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares, and (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The activity of the company is to carry on the business of providing outsourcing services for all processes, sub processes, transactions, activities and all other work performed by business in various industries within India and across the world. The applicant had received foreign inward remittances from Foreign Companies towards advance for subscription to equity shares The applicant reported receipt of remittances towards share subscription amounting to 3,38,838/- to the Regional Office of Reserve Bank of India later than 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed Form FC-GPRs. The applicant filed Form FC-GPR for the allotment of shares amounting to ` 3,30,000/- beyond 30 days from the date of issue of shares to person resident outside India. | 338,838 | 20,320 | |
| 400 | Omnimed Solutions Pvt. Ltd. | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 1 months | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares, and (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The activity of the company is to carry on the business of providing outsourcing services for all processes, sub processes, transactions, activities and all other work performed by business in various industries within India and across the world. The applicant had received foreign inward remittances from Foreign Companies towards advance for subscription to equity shares The applicant reported receipt of remittances towards share subscription amounting to 3,38,838/- to the Regional Office of Reserve Bank of India later than 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed Form FC-GPRs. The applicant filed Form FC-GPR for the allotment of shares amounting to ` 3,30,000/- beyond 30 days from the date of issue of shares to person resident outside India. | 330,000 | 20,320 | |
| 401 | Ascend Telecom Infrastructure Pvt. Ltd. | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of inflow of funds received from a person outside India | 5 days to 8 months 14 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares, and (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The company is engaged in the business of maintenance of telecom network.The applicant had received foreign inward remittances from Foreign Companies towards advance for subscription to equity shares. The applicant reported receipt of remittances towards share subscription amounting to 388,48,56,546/- to the Regional Office of Reserve Bank of India and remittances amounting to 126,14,57,775.43 was reported later than 30 days from the date of receipt of the amount of consideration. The company allotted equity shares and filed Form FC-GPRs. The applicant filed Form FC-GPRs for the allotment of shares amounting to 388,48,56,235/- and delayed in filing of the FC-GPRs amounting to 109,77,44,152/- beyond 30 days from the date of issue of shares to person resident outside India. | 1,261,457,775 | 189,000 | |
| 402 | Ascend Telecom Infrastructure Pvt. Ltd. | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 5 days to 15 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares, and (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The company is engaged in the business of maintenance of telecom network.The applicant had received foreign inward remittances from Foreign Companies towards advance for subscription to equity shares. The applicant reported receipt of remittances towards share subscription amounting to 388,48,56,546/- to the Regional Office of Reserve Bank of India and remittances amounting to 126,14,57,775.43 was reported later than 30 days from the date of receipt of the amount of consideration. The company allotted equity shares and filed Form FC-GPRs. The applicant filed Form FC-GPRs for the allotment of shares amounting to 388,48,56,235/- and delayed in filing of the FC-GPRs amounting to 109,77,44,152/- beyond 30 days from the date of issue of shares to person resident outside India. | 1,097,744,152 | 189,000 | |
| 403 | Glenmark Pharmaceuticals Limited | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Failure in obtaining FIPB approval for issuing ESOPs to Foreign National | 2 years 11 months and 10 days | Issue of ESOPs to Foreign National, without prior approval of FIPB | The main activity of the applicant is to carry on business of manufacturers, Refiners, Importers, Exporters, Manipulators, Dealers, Purchasers, Sellers, Wholesalers, Retailers, Agents and Distributors of Pharmaceuticals, Drugs, Medicines, Chemicals, Food Products, Alkalis, Acids, Tannins, Essences, Biological Products, Health Foods, Tonics, Minerals and other waters, Cosmetics, soaps, oils, fats, milk products, proteins, paints, varnishes, Dyestuffs, Compounds, salts and marine minerals. The Company had issued 25,000 shares, amounting Rs 1,20,10,000/- under “ESOS-2003” scheme to Mr. Patrick Peter Keohane, UK National (non-resident employees) on March 12, 2013. Whereas as per para 2(ii) of A.P. Dir Circular No 56 dated December 09, 2011, the existing pharmaceutical companies falls under 100% Government approval route. Thereafter, Company approached Foreign Investment Promotion Board (FIPB) on November 17, 2015 for the approval for issue of shares under ESOP and obtained post facto FIPB approval beyond the prescribed period. | 12,010,000 | 122,060 | |
| 404 | Franke Faber India Pvt. Ltd. | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in allotment of shares beyond the prescribed period | 10 months to 10 months and 14 days | (i) neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India within 180 days of the receipt of the inward remittance (ii) delay in reporting receipt of foreign inward remittance towards subscription to equity; and (iii) delay in submission of Form FCGPR | The applicant is engaged in the business to manufacture, assemble, import, deal, hire, purchase and sell, deal or distribute in all types of Kitchen Hoods, Air Purifiers, Cooking Ranges, Foodwaste *(Disposers), #Kitchen Furniture and Accessories, Utensils, Crockery, *(Dehumidifiers), Hydromassagers, Metros, Motors, Fans, Electric Grinders, Air conditioners, Refrigerators, Washing Machine and other household appliances. The applicant received foreign inward remittance from M/s Faber SPA, Italy, M/s Franke Kuchentechnik AG, Switzerland, M/s Franke Schweiz AG, Switzerland and M/s Franke Holding AG, Switzerland towards equity / preference share capital and reported the same to the Reserve Bank. Out of total remittances, few remittances were reported to RBI beyond 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs Further, the applicant submitted form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India.The allotment of shares made on September 02, 2015 amounting to Rs.7,50,00,000/- was made after 180 days of receipt of investment with the approval of Reserve Bank. | 75,000,000 | 1,375,000 | |
| 405 | Franke Faber India Pvt. Ltd. | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of inflow of funds received from a person outside India | 10 months to 10 months and 14 days | (i) neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India within 180 days of the receipt of the inward remittance (ii) delay in reporting receipt of foreign inward remittance towards subscription to equity; and (iii) delay in submission of Form FCGPR | The applicant is engaged in the business to manufacture, assemble, import, deal, hire, purchase and sell, deal or distribute in all types of Kitchen Hoods, Air Purifiers, Cooking Ranges, Foodwaste *(Disposers), #Kitchen Furniture and Accessories, Utensils, Crockery, *(Dehumidifiers), Hydromassagers, Metros, Motors, Fans, Electric Grinders, Air conditioners, Refrigerators, Washing Machine and other household appliances. The applicant received foreign inward remittance from M/s Faber SPA, Italy, M/s Franke Kuchentechnik AG, Switzerland, M/s Franke Schweiz AG, Switzerland and M/s Franke Holding AG, Switzerland towards equity / preference share capital and reported the same to the Reserve Bank. Out of total remittances, few remittances were reported to RBI beyond 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs Further, the applicant submitted form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India.The allotment of shares made on September 02, 2015 amounting to Rs.7,50,00,000/- was made after 180 days of receipt of investment with the approval of Reserve Bank. | 168,992,500 | 1,375,000 | |
| 406 | Franke Faber India Pvt. Ltd. | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 21 days to 6 years 1 months and 27 days | (i) neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India within 180 days of the receipt of the inward remittance (ii) delay in reporting receipt of foreign inward remittance towards subscription to equity; and (iii) delay in submission of Form FCGPR | The applicant is engaged in the business to manufacture, assemble, import, deal, hire, purchase and sell, deal or distribute in all types of Kitchen Hoods, Air Purifiers, Cooking Ranges, Foodwaste *(Disposers), #Kitchen Furniture and Accessories, Utensils, Crockery, *(Dehumidifiers), Hydromassagers, Metros, Motors, Fans, Electric Grinders, Air conditioners, Refrigerators, Washing Machine and other household appliances. The applicant received foreign inward remittance from M/s Faber SPA, Italy, M/s Franke Kuchentechnik AG, Switzerland, M/s Franke Schweiz AG, Switzerland and M/s Franke Holding AG, Switzerland towards equity / preference share capital and reported the same to the Reserve Bank. Out of total remittances, few remittances were reported to RBI beyond 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs Further, the applicant submitted form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India.The allotment of shares made on September 02, 2015 amounting to Rs.7,50,00,000/- was made after 180 days of receipt of investment with the approval of Reserve Bank. | 316,982,160 | 1,375,000 | |
| 407 | Pan India Shipping Pvt. Ltd. | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in allotment of shares beyond the prescribed period | 8 months 27 days to 1 years 2 months and 4 days | (i) neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India within 180 days of the receipt of the inward remittance (ii) delay in reporting receipt of foreign inward remittance towards subscription to equity; and (iii) delay in submission of Form FCGPR | The applicant is engaged in the business of providing all services pertaining to ship management, ship repairs, navigation, ship construction, ship breaking, ship operation, ship audit, and all the business of ship owners and all other services in relation to ship , boat water tankers and other water vessels. The applicant reported receipt of remittances to the Reserve Bank beyond the stipulated time of 30 days from the date of receipt of consideration. The company allotted equity shares and filed FC-GPRs Further, the applicant submitted form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India.The allotment of shares made on February 03, 2009 amounting to Rs. 4,25,06,171/- was made after 180 days of receipt of investment without the approval of Reserve Bank. | 42,506,171 | 717,899 | |
| 408 | Pan India Shipping Pvt. Ltd. | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of inflow of funds received from a person outside India | 5 years 6 months 28days to 6 years 4 months and 1 days | (i) neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India within 180 days of the receipt of the inward remittance (ii) delay in reporting receipt of foreign inward remittance towards subscription to equity; and (iii) delay in submission of Form FCGPR | The applicant is engaged in the business of providing all services pertaining to ship management, ship repairs, navigation, ship construction, ship breaking, ship operation, ship audit, and all the business of ship owners and all other services in relation to ship , boat water tankers and other water vessels. The applicant reported receipt of remittances to the Reserve Bank beyond the stipulated time of 30 days from the date of receipt of consideration. The company allotted equity shares and filed FC-GPRs Further, the applicant submitted form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India.The allotment of shares made on February 03, 2009 amounting to Rs. 4,25,06,171/- was made after 180 days of receipt of investment without the approval of Reserve Bank | 42,496,000 | 717,899 | |
| 409 | Pan India Shipping Pvt. Ltd. | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 3 months 1 days to 4 years 4 months and 1 days | (i) neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India within 180 days of the receipt of the inward remittance (ii) delay in reporting receipt of foreign inward remittance towards subscription to equity; and (iii) delay in submission of Form FCGPR | The applicant is engaged in the business of providing all services pertaining to ship management, ship repairs, navigation, ship construction, ship breaking, ship operation, ship audit, and all the business of ship owners and all other services in relation to ship , boat water tankers and other water vessels. The applicant reported receipt of remittances to the Reserve Bank beyond the stipulated time of 30 days from the date of receipt of consideration. The company allotted equity shares and filed FC-GPRs Further, the applicant submitted form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India.The allotment of shares made on February 03, 2009 amounting to Rs. 4,25,06,171/- was made after 180 days of receipt of investment without the approval of Reserve Bank | 42,606,170 | 717,899 | |
| 410 | Village Laundry Services Pvt. Ltd. | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of inflow of funds received from a person outside India | 1 months 3 days to 5 years 3 months and 17 days | (i) neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India within 180 days of the receipt of the inward remittance (ii) delay in reporting receipt of foreign inward remittance towards subscription to equity; and (iii) delay in submission of Form FCGPRs | Tha applicant company is engaged in the business to establish, own, run, promote, conduct, install and maintain cleaning shops, franchises, places, agencies and to carry on in India or abroad the business as dry cleaners, dyers, launderers, franchise & washerman in all its branches for all kinds of costumes, garments, fabrics, wearing apparels & clothes whether made of woollen, silken, cotton, synthetics material or any combination thereof & to trade, manufacture and deal in detergent & washing chemicals. The applicant received foreign inward remittance from M/s Innosight Ventures Pte. Ltd., Singapore, Mr Alsdair C Trotter, USA and M/s Village Laundry Services Inc, USA towards equity / preference share capital and reported the same to the Reserve Bank beyond the stipulated time of 30 days in respect of remittances. The company allotted equity shares/preference shares/convertible preference shares and filed FC-GPRs. The applicant submitted Form FC-GPRs beyond 30 days from the date of issue of shares to person resident outside India. The allotment of shares made on December 03, 2008, December 26, 2009 and February 25, 2014 amounting to Rs 3,21,97,791/- were made after 180 days of receipt of investment without the approval of Reserve Bank. | 62,215,696 | 680,997 | |
| 411 | Village Laundry Services Pvt. Ltd. | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 1 months to 5 years 5 months and 7 days | (i) neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India within 180 days of the receipt of the inward remittance (ii) delay in reporting receipt of foreign inward remittance towards subscription to equity; and (iii) delay in submission of Form FCGPRs | Tha applicant company is engaged in the business to establish, own, run, promote, conduct, install and maintain cleaning shops, franchises, places, agencies and to carry on in India or abroad the business as dry cleaners, dyers, launderers, franchise & washerman in all its branches for all kinds of costumes, garments, fabrics, wearing apparels & clothes whether made of woollen, silken, cotton, synthetics material or any combination thereof & to trade, manufacture and deal in detergent & washing chemicals. The applicant received foreign inward remittance from M/s Innosight Ventures Pte. Ltd., Singapore, Mr Alsdair C Trotter, USA and M/s Village Laundry Services Inc, USA towards equity / preference share capital and reported the same to the Reserve Bank beyond the stipulated time of 30 days in respect of remittances. The company allotted equity shares/preference shares/convertible preference shares and filed FC-GPRs. The applicant submitted Form FC-GPRs beyond 30 days from the date of issue of shares to person resident outside India. The allotment of shares made on December 03, 2008, December 26, 2009 and February 25, 2014 amounting to Rs 3,21,97,791/- were made after 180 days of receipt of investment without the approval of Reserve Bank. | 78,383,643 | 680,997 | |
| 412 | Village Laundry Services Pvt. Ltd. | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in refund of excess share application money to the foreign investor | 1 months 5 days to 2 years and 16 days | (i) neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India within 180 days of the receipt of the inward remittance (ii) delay in reporting receipt of foreign inward remittance towards subscription to equity; and (iii) delay in submission of Form FCGPRs | Tha applicant company is engaged in the business to establish, own, run, promote, conduct, install and maintain cleaning shops, franchises, places, agencies and to carry on in India or abroad the business as dry cleaners, dyers, launderers, franchise & washerman in all its branches for all kinds of costumes, garments, fabrics, wearing apparels & clothes whether made of woollen, silken, cotton, synthetics material or any combination thereof & to trade, manufacture and deal in detergent & washing chemicals. The applicant received foreign inward remittance from M/s Innosight Ventures Pte. Ltd., Singapore, Mr Alsdair C Trotter, USA and M/s Village Laundry Services Inc, USA towards equity / preference share capital and reported the same to the Reserve Bank beyond the stipulated time of 30 days in respect of remittances. The company allotted equity shares/preference shares/convertible preference shares and filed FC-GPRs. The applicant submitted Form FC-GPRs beyond 30 days from the date of issue of shares to person resident outside India. The allotment of shares made on December 03, 2008, December 26, 2009 and February 25, 2014 amounting to Rs 3,21,97,791/- were made after 180 days of receipt of investment without the approval of Reserve Bank. | 32,197,791 | 680,997 | |
| 413 | Eurostar Consultants Pvt. Ltd. | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in allotment of shares beyond the prescribed period | 7 months and 5 days | Neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India within 180 days of the receipt of the inward remittance | The company is engaged in the business or vocation of acting as advisers and consultants on all matters and problems relating to the business, civil, administration, finance and organisation, management, commencement or expansion of industry, purchasing techniques and business (including construction of plants and buildings), production, purchases, sales, material and cost control, marketing advertisement, publicity, personnel, export and import to and for institutions, concerns, bodies, associations (incorporated or unincorporated), departments and services of the Government, public or local authorities, trusts, scientific research and Development Centres, and to be appointed as technical, financial, industrial administration, civil consultants. The applicant received foreign inward remittance from M/s Eurostar Communications LLC, Dubai on behalf of Mr. Raju T. Jethwani, Dubai, towards equity / preference share capital. The applicant company has received share application money amounting to Rs. 2,59,70,017.50/- on October 08, 2004 and refunded the entire share application money beyond 180 days from the date of receipt of the inward remittance, the amount of consideration so received shall be refunded to the person concerned, provided the Reserve Bank may, on an application made to it and for sufficient reasons permit to refund the amount of consideration received towards issue of security, if such amount is outstanding beyond a period of 180 days from the date of receipt. | 25,970,017 | 161,865 | |
| 414 | Lexicon Networks India Pvt. Ltd. | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in allotment of shares beyond the prescribed period | 2 months 27 days | (i) neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India within 180 days of the receipt of the inward remittance (ii) delay in reporting receipt of foreign inward remittance towards subscription to equity; and (iii) delay in submission of Form FCGPR | The company is engaged in the business to carry out business in the field of Computer Software Development including online and offshore Software Development, to select, recruit, depute and utilize skilled manpower in Software and Hardware Industry, to work as Consultants in the field of Information Technology & to carry out activities relating to Information Technology Enabled Services. To carry on business in Domain Name Registration, Internet/Web Hosting, Website Development & provide Support in the field of Internet & Information Technology. The applicant received foreign inward remittance from Mr. Arturo Caines, USA, towards equity / preference share capital and reported the same to the Reserve Bank beyond the stipulated time of 30 days from the date of receipt of consideration. The company allotted equity shares and filed FC-GPRs Further, the applicant submitted form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India.The excess share application money amounting to Rs.15,34,025/- was refunded on May 16, 2016 i.e. beyond 180 days with the approval of Reserve Bank. | 1,534,025 | 65,000 | |
| 415 | Lexicon Networks India Pvt. Ltd. | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of inflow of funds received from a person outside India | 15 days | (i) neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India within 180 days of the receipt of the inward remittance (ii) delay in reporting receipt of foreign inward remittance towards subscription to equity; and (iii) delay in submission of Form FCGPR | The company is engaged in the business to carry out business in the field of Computer Software Development including online and offshore Software Development, to select, recruit, depute and utilize skilled manpower in Software and Hardware Industry, to work as Consultants in the field of Information Technology & to carry out activities relating to Information Technology Enabled Services. To carry on business in Domain Name Registration, Internet/Web Hosting, Website Development & provide Support in the field of Internet & Information Technology. The applicant received foreign inward remittance from Mr. Arturo Caines, USA, towards equity / preference share capital and reported the same to the Reserve Bank beyond the stipulated time of 30 days from the date of receipt of consideration. The company allotted equity shares and filed FC-GPRs Further, the applicant submitted form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India.The excess share application money amounting to Rs.15,34,025/- was refunded on May 16, 2016 i.e. beyond 180 days with the approval of Reserve Bank. | 49,692 | 65,000 | |
| 416 | Lexicon Networks India Pvt. Ltd. | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 25 days to 3 m and 5 days | (i) neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India within 180 days of the receipt of the inward remittance (ii) delay in reporting receipt of foreign inward remittance towards subscription to equity; and (iii) delay in submission of Form FCGPR | The company is engaged in the business to carry out business in the field of Computer Software Development including online and offshore Software Development, to select, recruit, depute and utilize skilled manpower in Software and Hardware Industry, to work as Consultants in the field of Information Technology & to carry out activities relating to Information Technology Enabled Services. To carry on business in Domain Name Registration, Internet/Web Hosting, Website Development & provide Support in the field of Internet & Information Technology. The applicant received foreign inward remittance from Mr. Arturo Caines, USA, towards equity / preference share capital and reported the same to the Reserve Bank beyond the stipulated time of 30 days from the date of receipt of consideration. The company allotted equity shares and filed FC-GPRs Further, the applicant submitted form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India.The excess share application money amounting to Rs.15,34,025/- was refunded on May 16, 2016 i.e. beyond 180 days with the approval of Reserve Bank. | 5,607,217 | 65,000 | |
| 417 | Global One (India) Private Limited | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of inflow of funds received from a person outside India | 1 months 8 days to 12 years 1 months and 10 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares, and (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The company is engaged in the business of providing internet and related network services. b) The applicant company had received 31 inward remittances amounting to Rs. 17,15,05,067.70 from 15.03.2000 to 07.10.2015, out of which, 24 foreign inward remittances aggregating Rs. 6,33,44,173.00 were reported beyond 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs Further, the applicant submitted form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India | 63,344,173 | 958,890 | |
| 418 | Global One (India) Private Limited | Oct/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 5 months and 22 days to 13 years 1 months and 26 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares, and (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The company is engaged in the business of providing internet and related network services. b) The applicant company had received 31 inward remittances amounting to Rs. 17,15,05,067.70 from 15.03.2000 to 07.10.2015, out of which, 24 foreign inward remittances aggregating Rs. 6,33,44,173.00 were reported beyond 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs Further, the applicant submitted form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India | 126,105,500 | 958,890 | |
| 419 | Sai Global Limited Branch Office | Nov/2016 | Establishment of BO/LO/PO in India | FEMA 22/2000-RB | Establishment of BO in India by resident outside India without taking prior approval of RBI | 7 years | Establishment of BO in India by resident outside India without taking prior approval of RBI | The applicant company is engaged in quality assurance auditing and certification. M/s SAI Global Ltd was accorded approval under FERA to establish a branch office at Bangalore on October 07, 1994. The company was further given permission for opening additional offices at Mumbai and New Delhi by the Reserve Bank on October 01, 1997. On June 19, 2008, the captioned company established additional branch office at Nashik without obtaining prior permission of the Reserve Bank in contravention of Regulation 5. The applicant was granted post-facto permission for establishing additional branch office at Nashik on December 01, 2015 subject to compounding under FEMA, 1999. | 34,059,218 | 179,000 | |
| 420 | All Metal Services Limited - Liaison Office | Nov/2016 | Establishment of BO/LO/PO in India | FEMA 22/2000-RB | Payment of Certain amounts by its HO and emolyees of the Laision office | 2 years | Establishment of BO/LO/POPayment of Certain amounts by its HO and emolyees of the Laision office | Certain expenses of the Liaison Office were paid directly by its Head Office on behalf of the applicant in India or reimbursed to the employees for expenses met through corporate credit cards on behalf of the applicant in India during financial years ended in March 2014 and 2015. | NIL | 47,800 | |
| 421 | UTStarcom Inc. BSNL 2.1 and 2.2 Project Office | Nov/2016 | Establishment of BO/LO/PO in India | FEMA 22/2000-RB | Failure to obtain the prior approval of RBI for carrying out inter project funds transfer | 9 years | (i) carrying out inter project fund transfers without obtaining prior approval of Reserve Bank of India and (ii) carrying out fund transfers from/to the branch office of the applicant without obtaining prior approval of Reserve Bank of India | The applicant company is engaged in the business of manufacturing and supply of telecommunication and broadband equipment and IPTV equipment. The contract awarding entity (BSNL), while making payment, credited the proceeds to the incorrect project office account which were then transferred to the correct project office account. This involved transfers between the captioned project office i.e. UTStarcom Inc.-BSNL Multiplay project office at one end and UTStarcom Inc.-BSNL 2.1 and 2.2 project office and UTStarcom Inc. Branch Office at the other end. | 457,720,026 | 3,436,000 | |
| 422 | UTStarcom Inc. BSNL 2.1 and 2.2 Project Office | Nov/2016 | Establishment of BO/LO/PO in India | FEMA 22/2000-RB | Failure to obtain the prior approval of RBI for carrying out inter project funds transfer | 9 years | (i) carrying out inter project fund transfers without obtaining prior approval of Reserve Bank of India and (ii) carrying out fund transfers from/to the branch office of the applicant without obtaining prior approval of Reserve Bank of India | The applicant company is engaged in the business of manufacturing and supply of telecommunication and broadband equipment and IPTV equipment. The contract awarding entity (BSNL), while making payment, credited the proceeds to the incorrect project office account which were then transferred to the correct project office account. This involved transfers between the captioned project office i.e. UTStarcom Inc.-BSNL Multiplay project office at one end and UTStarcom Inc.-BSNL 2.1 and 2.2 project office and UTStarcom Inc. Branch Office at the other end. | 457,720,026 | 3,436,000 | |
| 423 | UTStarcom Inc. BSNL Multiplay Project Office | Nov/2016 | Establishment of BO/LO/PO in India | FEMA 22/2000-RB | Failure to obtain the prior approval of RBI for carrying out inter project funds transfer | 9 years | (i) carrying out inter project fund transfers without obtaining prior approval of Reserve Bank of India and (ii) carrying out fund transfers from/to the branch office of the applicant without obtaining prior approval of Reserve Bank of India | The applicant company is engaged in the business of manufacturing and supply of telecommunication and broadband equipment and IPTV equipment. The contract awarding entity (BSNL), while making payment, credited the proceeds to the incorrect project office account which were then transferred to the correct project office account. This involved transfers between the captioned project office i.e. UTStarcom Inc.-BSNL Multiplay project office at one end and UTStarcom Inc.-BSNL 2.1 and 2.2 project office and UTStarcom Inc. Branch Office at the other end. | 457,720,026 | 3,436,000 | |
| 424 | Permasteelisa India Pvt Ltd | Nov/2016 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 11.1 years (ii) 10.11 years (iii) 11 years | (i) delay in reporting of inflow of funds received from persons resident outside India for allotment of shares (ii) delay in refund of excess share application money (iii) delay in submission of form FCGPR on allotment of shares | The activity undertaken by the company is construction of curtain walls for buildings using hi-tech unitized glass curtain wall systems. | (i) 45,86,186 (ii) 26,286 (iii) 45,59,900 | 215,200 | |
| 425 | Tecosim Engineering Services Pvt Ltd | Nov/2016 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 3 months to 2.1 years (ii) 3.1 years | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank | The applicant, M/s. Tecosim Engineering Services Pvt. Ltd., was incorporated on June 24, 2009, under the Companies Act, 1956. The company is engaged in the engineering design services. The applicant received funds towards share application money from one foreign investor viz. M/s Tecosim Venture AG, Germany | (i) 48,24,127 (ii) 33,24,127 | 34,000 | |
| 426 | Bionova Tech Private Limited | Nov/2016 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 3 days to 153 days (ii) 16 days to 87 days (iii) 3 years 25 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares (iii) nonissuance of equity instruments to the foreign investor, a person resident outside India within 180 days of the receipt of the inward remittance | The applicant was incorporated on November 21, 2008 under Companies Act, 1956 and is engaged in research and development in the field of Bio-Technology. The applicant received foreign inwardremittances from M/s Indonova Tech AB, Sweden towards subscription to equity shares and reported the same to the Reserve Bank with a delay | (i) 27,36,964 (ii) 51,33,310 (iii) 1,40,120 | 64,131 | |
| 427 | Hyoseong Electric India Pvt Ltd | Nov/2016 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 11 days to 5.2 years (ii) 28 days to 4.9 years (iii) 6 months to 9.5 months | (i) delay in reporting inflow of funds received from a person resident outside India for allotment of shares, (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank and (iii) allotting shares to nonresident remitter / investor beyond the prescribed period of 180 days with the prior approval of RBI | The applicant company was incorporated on December 21, 2006 under the provisions of the Companies Act, 1956 (Registration No: U50300TN2006PTC061821) and is engaged in the business of manufacture of automotive motor parts, electrical components and assembly parts for automobile engineering industries. The applicant received foreign inward remittance from M/s. Hyoseong Electric Co. Ltd, South Korea towards subscription to equity shares and reported the same to the Reserve Bank | (i) 14,41,12,144 (ii) 25,13,96,000 (iii) 21,99,11,710 | 860,550 | |
| 428 | Clarewhite Foods Private Limited | Nov/2016 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 18 days (ii) 9 days to 4 months | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares, (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The applicant company was incorporated on April 30, 2012 under the provisions of the Companies Act, 1956 (Registration No. U55101TN2012PTC085667) and is engaged in Business of Cafeterias, fast-food restaurants and other food preparation in market stalls. The applicant received foreign inward remittances from M/s. Clarewhite Brands Inc., USA towards subscription to equity shares and reported the same to the Reserve Bank | (i) 13,30,200 (ii) 58,79,640 | 22,300 | |
| 429 | Southside Hotels And Resorts Limited | Nov/2016 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 1.7 years to 3.3 years (ii) 3 days to 1.1 years (iii) 1.10 years | (i) Delay in reporting inflow of funds received from a person resident outside India for allotment of shares; (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank, and (iii) delay in allotment of shares to the nonresident investor | The applicant company was incorporated on December 08, 2004 under the provisions of the Companies Act, 1956 (Registration No. U65993TN2004PLC054854) and is engaged in Business of Hotels and Motels, Inns, Resorts providing short term lodging facilities includes accommodation in house boats and Security and commodity contracts brokerage. The applicant received foreign inward remittances from M/s GT Overseas Co. Ltd., and M/s Ballymore Rampone Ltd., on behalf of Shri. Mahadevan Ganesh, United Kingdom towards subscription to equity shares and reported the same to the Reserve Bank | (i) 21,61,13,643 (ii) 21,61,13,640 (iii) 1,71,13,640 | 621,443 | |
| 430 | KJK Meister Honen (P) Ltd. | Nov/2016 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 3 days to 4 months (ii) 8.6 years to 8.8 years | (i) delay in submission of Form FCGPR on allotment of shares with Reserve Bank (ii) retaining the excess share application money beyond 180 days (iii) delay in refunding the same to the nonresident remitter / investor beyond the prescribed period of 180 days | The applicant company was incorporated on June 29, 2006 under the provisions of the Companies Act, 1956 (Registration No: U29299TN2006PTC060390) and is engaged in the business of manufacture of grinding, lapping, honing and polishing machines. The applicant received foreign inward remittances from M/s.XLNT High Precision Tools Gmbh, Germany towards subscription to equity shares | (i) 10,00,000 (ii) 26,992 | 34,543 | |
| 431 | Futari Manufacturing India Pvt Ltd | Nov/2016 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 2 days to 3 months (ii) 5 months | (i) delay in reporting ofinflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The applicant company was incorporated on May 23, 2013 under the provisions of the Companies Act, 1956 (Registration No. U31900TN2013PTC091279) and is engaged in Business of Manufacture of moulded industrial accessories of plastics [including electrical insulating fittings of plastics]. The applicant received foreign inward remittances from Mr. Chee Lai Cheong, Singapore and Mr. Ling Hua Hing, Singapore towards subscription to equity shares and reported the same to the Reserve Bank | (i) 13,99,300 (ii) 4,00,000 | 21,080 | |
| 432 | Tripro Technologies Pvt Ltd | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of inflow of funds received from a person outside India | 10 days to 12 days | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares and (ii) allotment of shares to the nonresident investor prior to the receipt of inward remittance | The applicant company is engaged in Business of Computer consultancy and computer facilities management activities. The applicant received foreign inward remittances from Mr. Ramesh Ananthashivam, UK towards subscription to equity shares and reported the same to the Reserve Bank later than 30 days from the date of receipt of the amount of consideration. The company has allotted 36605 shares of ₹10 each on 10.12.2013 against remittance of ₹ 3,61,050/- received on 14.06.2013 and the balance amount of ₹ 5,000/was brought in by way of inward remittance on 02.07.2014 with delay beyond 180 days from the date of receipt of the inward remittance. | 361,050 | 10,660 | |
| 433 | Tripro Technologies Pvt Ltd | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in refund of excess amount beyond 180 days after obtaining RBI's permission | 6 months 22 days | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares and (ii) allotment of shares to the nonresident investor prior to the receipt of inward remittance | The applicant company is engaged in Business of Computer consultancy and computer facilities management activities. The applicant received foreign inward remittances from Mr. Ramesh Ananthashivam, UK towards subscription to equity shares and reported the same to the Reserve Bank later than 30 days from the date of receipt of the amount of consideration. The company has allotted 36605 shares of ₹10 each on 10.12.2013 against remittance of ₹ 3,61,050/- received on 14.06.2013 and the balance amount of ₹ 5,000/was brought in by way of inward remittance on 02.07.2014 with delay beyond 180 days from the date of receipt of the inward remittance. | (I) 3,66,076.05 (II) 5000 | 10,660 | |
| 434 | Solarwinds India Pvt Ltd | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of inflow of funds received from a person outside India | 22 to 26 days | Delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity | The applciant company is engaged in is engaged in Business of Providing software support and maintenance to the clients. The applicant received foreign inward remittances from (i) M/s.Solarwinds Software Europe (Holdings) Ltd., Ireland (ii) M/s.Solarwinds Software Europe Ltd., Ireland towards subscription to equity shares and reported the same to the Reserve Bank later than 30 days from the date of receipt of the amount of consideration | 29,999,672 | 14,720 | |
| 435 | R.K.M Estates Private Ltd | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in refund of excess amount beyond 180 days after obtaining RBI's permission | 8 years 8 months 26 days to 8 years 10 months 8 days | Delay in refund of excess amount beyond stipulated 180 days after obtaining RBI’s permission | The applicant company is is engaged in Business of Electric power generation using other non-conventional sources. The applicant received foreign inward remittances from (i) M/s.Great Hill International Ltd., Mauritius and (ii) M/s Mudajaya Corporation Berhad, Malaysia towards subscription to equity shares and reported the same to the Reserve Bank. The company failed to allot shares to the non-resident investors. The company has refunded the inward remittances to the non-resident investors with prior approval of Reserve Bank. The company refunded the amount to the no resident investors beyond 180 days from the date of receipt of the inward remittance. | 39,813,269 | 492,899 | |
| 436 | Advent Global Solutions Ltd | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in refund of excess amount beyond 180 days after obtaining RBI's permission | 2 years 10 months 10 days to 3 years 2 months 19 days | (i) neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India, within 180 days of the receipt of the inward remittance; and (ii) delay in reporting receipt of foreign inward remittances towards subscription to equity to a person resident outside India | The company is engaged in the business of delivering enterprise software solutions, IT consulting and outsourcing services and product engineering solutions.The applicant had received foreign inward remittances from overseas investors towards advance for subscription to equity shares.The applicant reported receipt of remittances towards share subscription amounting to `4,40,63,858/- to the Regional Office of Reserve Bank of India and remittances amounting to 4,00,01,608/- was reported later than 30 days from the date of receipt of the amount of consideration. | 29,386,466 | 466,635 | |
| 437 | Advent Global Solutions Ltd | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of inflow of funds received from a person outside India | 1 days to 3 years 6 months 2 days | (i) neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India, within 180 days of the receipt of the inward remittance; and (ii) delay in reporting receipt of foreign inward remittances towards subscription to equity to a person resident outside India | The company is engaged in the business of delivering enterprise software solutions, IT consulting and outsourcing services and product engineering solutions.The applicant had received foreign inward remittances from overseas investors towards advance for subscription to equity shares.The applicant reported receipt of remittances towards share subscription amounting to `4,40,63,858/- to the Regional Office of Reserve Bank of India and remittances amounting to 4,00,01,608/- was reported later than 30 days from the date of receipt of the amount of consideration. | 40,001,608 | 466,635 | |
| 438 | Rohini Minerals Pvt Ltd | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of inflow of funds received from a person outside India | 3 days to 2 months 15 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity and (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The company is engaged in the business of manufacturing of poultry feed.The applicant reported receipt of remittances towards share subscription amounting to 11,03,17,233/- to the Regional Office of Reserve Bank of India not later than 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed Form FC-GPRs.The applicant company submitted Form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India | 110,317,233 | 158,190 | |
| 439 | Rohini Minerals Pvt Ltd | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 8 months to 9 months 5 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity and (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The company is engaged in the business of manufacturing of poultry feed.The applicant reported receipt of remittances towards share subscription amounting to 11,03,17,233/- to the Regional Office of Reserve Bank of India not later than 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed Form FC-GPRs.The applicant company submitted Form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India | 129,449,660 | 158,190 | |
| 440 | Swarnim Trading Pvt Ltd | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of inflow of funds received from a person outside India | 3 days to 2 months 15 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity and (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The company is engaged in the business of manufacturing of poultry feed.The applicant had received foreign inward remittances from overseas investors towards advance for subscription to equity shares. The applicant reported receipt of remittances towards share subscription amounting to 11,03,17,233/- to the Regional Office of Reserve Bank of India later than 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed Form FC-GPRs The applicant filed Form FC-GPRs for the allotment of shares amounting to 12,94,49,660/-and the same were not reported ithin 30 days from the date of issue of shares to person resident outside India. | 113,017,233 | 636,000 | |
| 441 | Swarnim Trading Pvt Ltd | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 8 months to 9 months 5 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity and (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The company is engaged in the business of manufacturing of poultry feed.The applicant had received foreign inward remittances from overseas investors towards advance for subscription to equity shares. The applicant reported receipt of remittances towards share subscription amounting to 11,03,17,233/- to the Regional Office of Reserve Bank of India later than 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed Form FC-GPRs The applicant filed Form FC-GPRs for the allotment of shares amounting to 12,94,49,660/-and the same were not reported ithin 30 days from the date of issue of shares to person resident outside India. | 129,449,660 | 636,000 | |
| 442 | Paradigm Corporation Pvt. Ltd | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of inflow of funds received from a person outside India | 1 days to 15 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity and (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The company is engaged in the business to export from India and import into India, trading of any material, all commodities, consumer goods, tea, coffee, chemicals, minerals, textiles materials and articles whether raw, semi manufactured or manufactured to /from all parts of the world etc. The applicant had received foreign inward remittances from overseas investors towards advance for subscription to equity shares.The applicant reported receipt of remittances towards share subscription amounting to 11,11,46,402/- to the Regional Office of Reserve Bank of India and remittances amounting to 6,27,98,017/-was reported later than 30 days from the date of receipt of the amount of consideration. The company allotted equity shares and filed Form FC-GPRs.The applicant filed Form FC-GPRs for the allotment of shares amounting to 11,11,46,402/- beyond 30 days from the date of issue of shares to person resident outside India. | 62,798,017 | 2,534,500 | |
| 443 | Paradigm Corporation Pvt. Ltd | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | (i) 4 months 26 days to 7 years 9 months 21 days (ii) 9 months 19 days to 2 year 29 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity and (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The company is engaged in the business to export from India and import into India, trading of any material, all commodities, consumer goods, tea, coffee, chemicals, minerals, textiles materials and articles whether raw, semi manufactured or manufactured to /from all parts of the world etc. The applicant had received foreign inward remittances from overseas investors towards advance for subscription to equity shares.The applicant reported receipt of remittances towards share subscription amounting to 11,11,46,402/- to the Regional Office of Reserve Bank of India and remittances amounting to 6,27,98,017/-was reported later than 30 days from the date of receipt of the amount of consideration. The company allotted equity shares and filed Form FC-GPRs.The applicant filed Form FC-GPRs for the allotment of shares amounting to 11,11,46,402/- beyond 30 days from the date of issue of shares to person resident outside India. | 111,146,402 | 2,534,500 | |
| 444 | Solidcam Software India Pvt Ltd | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of inflow of funds received from a person outside India | 5 years 11 months 23 days to 6 years 8 months 13 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity and (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India.(iii) delay in refund of excess amount beyond stipulated 180 days after obtaining RBI’s permission | The company is engaged in the business to develop, market, promote, distribute and sell software products and to provide technical and other support services to its customers in software products.The applicant had received foreign inward remittances from overseas investors towards advance for subscription to equity shares.The applicant reported receipt of remittances towards share subscription amounting to ₹ 11, 04,052.50/- to the Regional Office of Reserve Bank of India later than 30 days from the date of receipt of the amount of consideration. The company allotted equity shares and filed Form FC-GPRs. The forms FC-GPRs were submitted to RBI beyond 30 days from the date of issue of shares to the overseas investor. The company delayed in allotment of shares beyond the stipulated period of 180 days from the date of receipt of inward remittances and allotted shares without approval of RBI | 1,104,050 | 100,000 | |
| 445 | Solidcam Software India Pvt Ltd | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 6 months 25 days to 6 years 5 months | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity and (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India.(iii) delay in refund of excess amount beyond stipulated 180 days after obtaining RBI’s permission | The company is engaged in the business to develop, market, promote, distribute and sell software products and to provide technical and other support services to its customers in software products.The applicant had received foreign inward remittances from overseas investors towards advance for subscription to equity shares.The applicant reported receipt of remittances towards share subscription amounting to ₹ 11, 04,052.50/- to the Regional Office of Reserve Bank of India later than 30 days from the date of receipt of the amount of consideration. The company allotted equity shares and filed Form FC-GPRs. The forms FC-GPRs were submitted to RBI beyond 30 days from the date of issue of shares to the overseas investor. The company delayed in allotment of shares beyond the stipulated period of 180 days from the date of receipt of inward remittances and allotted shares without approval of RBI | 1,104,050 | 100,000 | |
| 446 | Solidcam Software India Pvt Ltd | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in refund of excess amount beyond 180 days after obtaining RBI's permission | 5 years 4 months 12 days to 6 years 1 months 4 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity and (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India.(iii) delay in refund of excess amount beyond stipulated 180 days after obtaining RBI’s permission | The company is engaged in the business to develop, market, promote, distribute and sell software products and to provide technical and other support services to its customers in software products.The applicant had received foreign inward remittances from overseas investors towards advance for subscription to equity shares.The applicant reported receipt of remittances towards share subscription amounting to ₹ 11, 04,052.50/- to the Regional Office of Reserve Bank of India later than 30 days from the date of receipt of the amount of consideration. The company allotted equity shares and filed Form FC-GPRs. The forms FC-GPRs were submitted to RBI beyond 30 days from the date of issue of shares to the overseas investor. The company delayed in allotment of shares beyond the stipulated period of 180 days from the date of receipt of inward remittances and allotted shares without approval of RBI | 1,004,050 | 100,000 | |
| 447 | Yash Technologies Private Limited | Nov/2016 | ODI | FEMA 120/RB-2004 | ODI- Wrong adoption of method of funding by Indian Party to overseas WOS by cash | 2 years | Method of funding by Indian Party to overseas WOS by cash instead of funding through balance held in Exchange Earner's Foreign currency account of the Indian Party maintained with an authorised dealer or drawal of foreign exchange from authorised dealer | The applciant company had made cash payment in Malaysian Ringgit of MYR 6299 (INR 1,18,035) as capital contribution towards formation of subsidiary company “Yash Technologies SDB BHD in Malaysia on October 17, 2014. The method of funding by the Indian Party to the overseas WOS by cash has resulted in contravention of provision of FEMA. | 118,035 | 50,600 | |
| 448 | Powersys India Pvt Ltd | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of inflow of funds received from a person outside India | 2 months 25 days to 4 months 5 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity and (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The company is in the business of designing, developing, engineering, testing, manufacturing, erecting, installation, commissioning, importing, exporting, marketing, buying, selling, distributing, repairing and servicing of railway signaling systems/railway signaling software/railway electrification/railway track systems/power supplies and associated civil works etc. The applicant had received foreign inward remittances from Foreign Company towards advance for subscription to equity shares.The applicant reported receipt of remittances towards share subscription amounting to ` 25,00,000/- to the Regional Office of Reserve Bank of India later than 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed Form FC-GPRs.The applicant filed Form FC-GPRs for the allotment of shares amounting to 25,00,000/- beyond 30 days from the date of issue of shares to person resident outside India. | 2,500,000 | 22,990 | |
| 449 | CSGT Trading India Private Limited | Nov/2016 | ECB | FEMA 3/2000-RB | B/L-Borrowing in foreign exchange from overseas parent company | 1 years 6 months | borrowing in foreign exchange from overseas parent company without meeting the stipulated conditions | The applicant is a wholly owned subsidiary of CSGT, Taiwan, and acts as a selling agent of China Steel Corporation in India. The applicant company received an amount of INR 13,33,000/- from its parent company CSGT Taiwan, through CTPC Bank, New Delhi for a short period. The payments since remitted to the parent company, amounted to external commercial borrowings, thereby contravening provisions. | 1,333,000 | 57,300 | |
| 450 | Interjewel Pvt. Ltd. | Nov/2016 | ECB | FEMA 3/2000-RB | B/L-non-repayment of foreign currency credit, extended by the overseas supplier of goods, | 8 m to 1 years 1 m | Nonrepayment of foreign currency credit, extended by the overseas supplier of goods,for a period exceeding six months | The firm is engaged in the business of trading and dealing in coarse and polished diamonds and other precious metals. The applicant had imported rough diamonds from M/s Sushang Exports NV and M/s Interjewel Europe NV, on credit RBI gave approval for repayment of the foreign currency credit beyond 180 days vide letter dated October 28, 2015, subject to compounding | 228,473,597 | 1,226,622 | |
| 451 | Essar Steel India Ltd. | Nov/2016 | ODI | FEMA 120/RB-2004 | Making overseas investments and rolling over three Standby Letters of Credit (SBLCs) without prior permission of Reserve Bank of India, despite being under investigation by an investigative agency | 2 years 6 m to 6 years 6 m | (i) Making overseas investments and rolling over three Standby Letters of Credit (SBLCs) without prior permission of Reserve Bank of India, despite being under investigation by an investigative agency and (ii) issuance of openended corporate guarantee. | The applicant is engaged in the business of construction, building, dealing in bridges, steel frames, buildings etc. The applicant made the following overseas direct investments in its wholly owned subsidiaries and issued corporate guarantees amounting to Rs. 19,80,14,62,672. The investment were made under automatic route despite the applicant being under investigation by Directorate of Revenue Intelligence. The applicant rolled over three SBLCs amounting to Rs. 3,64,28,64,000 without prior approval of RBI. The applicant issued an open ended guarantee in contravention of provisions. | 3,642,864,000 | 94,734,110 | |
| 452 | Essar Steel India Ltd. | Nov/2016 | ODI | FEMA 120/RB-2004 | Making overseas investments and rolling over three Standby Letters of Credit (SBLCs) without prior permission of Reserve Bank of India, despite being under investigation by an investigative agency | 2 years 6 m to 6 years 6 m | (i) Making overseas investments and rolling over three Standby Letters of Credit (SBLCs) without prior permission of Reserve Bank of India, despite being under investigation by an investigative agency and (ii) issuance of openended corporate guarantee. | The applicant is engaged in the business of construction, building, dealing in bridges, steel frames, buildings etc. The applicant made the following overseas direct investments in its wholly owned subsidiaries and issued corporate guarantees amounting to Rs. 19,80,14,62,672. The investment were made under automatic route despite the applicant being under investigation by Directorate of Revenue Intelligence. The applicant rolled over three SBLCs amounting to Rs. 3,64,28,64,000 without prior approval of RBI. The applicant issued an open ended guarantee in contravention of provisions. | 856,631,475 | 94,734,110 | |
| 453 | Powersys India Pvt Ltd | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 3 months 11 days to 4 months 12 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity and (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The company is in the business of designing, developing, engineering, testing, manufacturing, erecting, installation, commissioning, importing, exporting, marketing, buying, selling, distributing, repairing and servicing of railway signaling systems/railway signaling software/railway electrification/railway track systems/power supplies and associated civil works etc. The applicant had received foreign inward remittances from Foreign Company towards advance for subscription to equity shares.The applicant reported receipt of remittances towards share subscription amounting to ` 25,00,000/- to the Regional Office of Reserve Bank of India later than 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed Form FC-GPRs.The applicant filed Form FC-GPRs for the allotment of shares amounting to 25,00,000/- beyond 30 days from the date of issue of shares to person resident outside India. | 2,500,000 | 22,990 | |
| 454 | Atul Limited | Nov/2016 | ODI | FEMA 120/RB-2004 | ODI- Dealy in reporting of Form ODI of overseas investment | Beyond 180 days | ODI Delay in reporting of Form ODI of overseas investment in a Joint Venture and overseas remittances without obtaining Unique Identification Number (UIN) | The applicant (Atul Limited) is a private limited company incorporated on December 11, 1975, engaged in the business of manufacturing basic inorganic chemicals. The applicant was issued memorandum dated August 16, 2016 as it had made two remittances to its WOS in Germany, Atul Deutschland GMBH in two tranches of EUR 25,000 and EUR 75,000 as equity investment on December 12, 2003 and March 22, 2004 respectively, without submitting Form ODI Part I and obtaining ‘Unique Identification Number’ (UIN). Further, the Annual Performance Reports (APRs) for the WOS for the period 2003 to 2015 were not submitted in contravention of provisions. | 1,426,097 | 97,130 | |
| 455 | Atul Limited | Nov/2016 | ODI | FEMA 120/RB-2004 | ODI- Non submission of APR | 2 years | Delay in filing of Form APR. | The applicant (Atul Limited) is a private limited company incorporated on December 11, 1975, engaged in the business of manufacturing basic inorganic chemicals. The applicant was issued memorandum dated August 16, 2016 as it had made two remittances to its WOS in Germany, Atul Deutschland GMBH in two tranches of EUR 25,000 and EUR 75,000 as equity investment on December 12, 2003 and March 22, 2004 respectively, without submitting Form ODI Part I and obtaining ‘Unique Identification Number’ (UIN). Further, the Annual Performance Reports (APRs) for the WOS for the period 2003 to 2015 were not submitted in contravention of provisions. | 1,426,097 | 97,130 | |
| 456 | Cableas India Exports Private Ltd. | Nov/2016 | ECB | FEMA 3/2000-RB | (i) Availing ECB from a non recognised lender | 2 years and 1 months | (i) availing ECB from a nonrecognized lender (ii) utilization of ECB proceeds for purchase of industrial land which was not a permissible end use as per extant ECB guidelines, as then applicable, and, (iii) drawdown of External Commercial Borrowing (ECB) before obtaining Loan Registration Number (LRN) from the RBI | The applicant is engaged in the business of processing, preparing, texturizing, sizing, bleaching, coloring, manufacturing in any way of or trading in human hair, cotton, etc, or any other merchandise of industrial or consumer use. The applicant received a loan amount of USD 509475 (INR 30606711) on April 24, 2014 from M/s Eclipsea International Pte. Ltd., Singapore, a foreign equity holder. At the time of drawdown of the loan, the lender did not hold 25% equity in the applicant company, and was thus not an eligible lender, as per the provisions of FEMA, and the borrowing was thus in contravention of provision.A part of the ECB was utilized for purchase of industrial land, which was not a permitted end-use.The drawdown of the loan happened prior to obtaining Loan Registration Number (LRN) from RBI. | 30,606,711 | 233,640 | |
| 457 | Cableas India Exports Private Ltd. | Nov/2016 | ECB | FEMA 3/2000-RB | B/L- Misutilisation of ECB | 2 years and 1 months | (i) availing ECB from a nonrecognized lender (ii) utilization of ECB proceeds for purchase of industrial land which was not a permissible end use as per extant ECB guidelines, as then applicable, and, (iii) drawdown of External Commercial Borrowing (ECB) before obtaining Loan Registration Number (LRN) from the RBI | The applicant is engaged in the business of processing, preparing, texturizing, sizing, bleaching, coloring, manufacturing in any way of or trading in human hair, cotton, etc, or any other merchandise of industrial or consumer use. The applicant received a loan amount of USD 509475 (INR 30606711) on April 24, 2014 from M/s Eclipsea International Pte. Ltd., Singapore, a foreign equity holder. At the time of drawdown of the loan, the lender did not hold 25% equity in the applicant company, and was thus not an eligible lender, as per the provisions of FEMA, and the borrowing was thus in contravention of provision.A part of the ECB was utilized for purchase of industrial land, which was not a permitted end-use.The drawdown of the loan happened prior to obtaining Loan Registration Number (LRN) from RBI. | 30,606,711 | 233,640 | |
| 458 | Cableas India Exports Private Ltd. | Nov/2016 | ECB | FEMA 3/2000-RB | B/L- Failure to obtain LRN before draw down of ECB | 2 years and 1 months | (i) availing ECB from a nonrecognized lender (ii) utilization of ECB proceeds for purchase of industrial land which was not a permissible end use as per extant ECB guidelines, as then applicable, and, (iii) drawdown of External Commercial Borrowing (ECB) before obtaining Loan Registration Number (LRN) from the RBI | The applicant is engaged in the business of processing, preparing, texturizing, sizing, bleaching, coloring, manufacturing in any way of or trading in human hair, cotton, etc, or any other merchandise of industrial or consumer use. The applicant received a loan amount of USD 509475 (INR 30606711) on April 24, 2014 from M/s Eclipsea International Pte. Ltd., Singapore, a foreign equity holder. At the time of drawdown of the loan, the lender did not hold 25% equity in the applicant company, and was thus not an eligible lender, as per the provisions of FEMA, and the borrowing was thus in contravention of provision.A part of the ECB was utilized for purchase of industrial land, which was not a permitted end-use.The drawdown of the loan happened prior to obtaining Loan Registration Number (LRN) from RBI. | 30,606,711 | 233,640 | |
| 459 | MR Sheetfed India Pvt. Ltd. | Nov/2016 | ECB | FEMA 3/2000-RB | B/L- Borrower is not eligible | 1 years 10 months | (i) Borrower not eligible to avail of ECB (ii) enduse of ECB proceeds not permissible (iii) average maturity period of the loan is not in compliance with the applicable norms for ECB (iv) draw down of ECB before obtaining Loan Registration Number (LRN) from the Reserve Bank of India (RBI) and (v) not adhering to reporting procedures. | The applicant company had entered into a Loan agreement on September 9, 2014 with their holding company Manroland Sheetfed GmbH, Germany and raised a loan of Euro 50,000 (INR 38,70,000). The loan was proposed to be repaid in three unequal installments on July 2016 (Euro 19,500), August, 2016 (Euro 19,500) and September, 2016 (Euro 11,000). The entire loan amount of Euro 50,000 (INR 38,70,000) was drawn on October 27, 2014 for the and was utilized for the purpose of working capital financing only. Further, the drawdown of Euro 50,000 had occurred before allotment of the Loan Registration Number (LRN) by RBI. | 3,870,000 | 70,000 | |
| 460 | MR Sheetfed India Pvt. Ltd. | Nov/2016 | ECB | FEMA 3/2000-RB | B/L- End-uses of ECB for working capital, general corporate purpose and repayment of existing Rupee loans are not permitted | 1 years 10 months | (i) Borrower not eligible to avail of ECB (ii) enduse of ECB proceeds not permissible (iii) average maturity period of the loan is not in compliance with the applicable norms for ECB (iv) draw down of ECB before obtaining Loan Registration Number (LRN) from the Reserve Bank of India (RBI) and (v) not adhering to reporting procedures. | The applicant company had entered into a Loan agreement on September 9, 2014 with their holding company Manroland Sheetfed GmbH, Germany and raised a loan of Euro 50,000 (INR 38,70,000). The loan was proposed to be repaid in three unequal installments on July 2016 (Euro 19,500), August, 2016 (Euro 19,500) and September, 2016 (Euro 11,000). The entire loan amount of Euro 50,000 (INR 38,70,000) was drawn on October 27, 2014 for the and was utilized for the purpose of working capital financing only. Further, the drawdown of Euro 50,000 had occurred before allotment of the Loan Registration Number (LRN) by RBI. | 3,870,000 | 70,000 | |
| 461 | MR Sheetfed India Pvt. Ltd. | Nov/2016 | ECB | FEMA 3/2000-RB | B/L- Non-adherence to the minimum average maturity period of the loan, | 1 years 10 months | (i) Borrower not eligible to avail of ECB (ii) enduse of ECB proceeds not permissible (iii) average maturity period of the loan is not in compliance with the applicable norms for ECB (iv) draw down of ECB before obtaining Loan Registration Number (LRN) from the Reserve Bank of India (RBI) and (v) not adhering to reporting procedures. | The applicant company had entered into a Loan agreement on September 9, 2014 with their holding company Manroland Sheetfed GmbH, Germany and raised a loan of Euro 50,000 (INR 38,70,000). The loan was proposed to be repaid in three unequal installments on July 2016 (Euro 19,500), August, 2016 (Euro 19,500) and September, 2016 (Euro 11,000). The entire loan amount of Euro 50,000 (INR 38,70,000) was drawn on October 27, 2014 for the and was utilized for the purpose of working capital financing only. Further, the drawdown of Euro 50,000 had occurred before allotment of the Loan Registration Number (LRN) by RBI. | 3,870,000 | 70,000 | |
| 462 | MR Sheetfed India Pvt. Ltd. | Nov/2016 | ECB | FEMA 3/2000-RB | B/L- Failure to obtain LRN before draw down of ECB | 1 years 10 months | (i) Borrower not eligible to avail of ECB (ii) enduse of ECB proceeds not permissible (iii) average maturity period of the loan is not in compliance with the applicable norms for ECB (iv) draw down of ECB before obtaining Loan Registration Number (LRN) from the Reserve Bank of India (RBI) and (v) not adhering to reporting procedures. | The applicant company had entered into a Loan agreement on September 9, 2014 with their holding company Manroland Sheetfed GmbH, Germany and raised a loan of Euro 50,000 (INR 38,70,000). The loan was proposed to be repaid in three unequal installments on July 2016 (Euro 19,500), August, 2016 (Euro 19,500) and September, 2016 (Euro 11,000). The entire loan amount of Euro 50,000 (INR 38,70,000) was drawn on October 27, 2014 for the and was utilized for the purpose of working capital financing only. Further, the drawdown of Euro 50,000 had occurred before allotment of the Loan Registration Number (LRN) by RBI. | 3,870,000 | 70,000 | |
| 463 | MR Sheetfed India Pvt. Ltd. | Nov/2016 | ECB | FEMA 3/2000-RB | B/L- Non adherence to reporting requirements | 1 years 10 months | (i) Borrower not eligible to avail of ECB (ii) enduse of ECB proceeds not permissible (iii) average maturity period of the loan is not in compliance with the applicable norms for ECB (iv) draw down of ECB before obtaining Loan Registration Number (LRN) from the Reserve Bank of India (RBI) and (v) not adhering to reporting procedures. | The applicant company had entered into a Loan agreement on September 9, 2014 with their holding company Manroland Sheetfed GmbH, Germany and raised a loan of Euro 50,000 (INR 38,70,000). The loan was proposed to be repaid in three unequal installments on July 2016 (Euro 19,500), August, 2016 (Euro 19,500) and September, 2016 (Euro 11,000). The entire loan amount of Euro 50,000 (INR 38,70,000) was drawn on October 27, 2014 for the and was utilized for the purpose of working capital financing only. Further, the drawdown of Euro 50,000 had occurred before allotment of the Loan Registration Number (LRN) by RBI. | 3,870,000 | 70,000 | |
| 464 | Sanjiv Kumar Agarwal | Nov/2016 | ODI | FEMA 120/RB-2004 | ODI- Dealy in reporting of Form ODI of overseas investment | 1 years | Delayed reporting in Form ODI of overseas investment in Joint Venture and overseas remittances without obtaining Unique Identification Number | The applicant Mr. Sanjiv Agarwal is a resident Indian holding the post of Director of M.J. Scrap Pvt. Ltd., a company in Kolkata trading in ferrous and non-ferrous metals. With a view to expand their business on a global level, the Indian company set up a joint venture in Singapore named ‘Ace Ship Recycling Pte. Ltd.’, which was incorporated on January 7, 2014. The Indian company M.J. Scrap Pvt. Ltd held 75% stake in the overseas Joint venture and the applicant, Mr. Sanjiv Kumar Agarwal held a stake of 5%. On January 7, 2014 the applicant Mr. Sanjiv Kumar Agarwal, Director of M.J. Scrap Pvt. Ltd. had directly subscribed towards incorporation of the overseas joint venture, ten shares amounting to SGD 10. Subsequently, on March 3, 2014 he made a remittance of USD 50,000 through the Authorised dealer bank towards equity capital of the JV. This investment was made under the Liberalised Remittance Scheme (LRS). The remittance was made for investment in the overseas entity, through Authorised Dealer, Bank of Baroda, Kolkata. It was reported to RBI in Form ODI without obtaining UIN. | 3,093,000 | 65,000 | |
| 465 | Darshan Hemant Mondkar | Nov/2016 | ODI | FEMA 120/RB-2004 | ODI made by a resident individual in the shares of an overseas entity and non-reporting of the same. | 3 years | ODI made by a resident individual in the shares of an overseas entity and nonreporting of the same. | The applicant is an Indian Resident Individual holding the post of Managing Director of M/s Hy-Tech Engineers Pvt. Ltd., Thane.The Indian company, Hy-Tech Engineers Pvt. Ltd., set up a joint venture in Virginia,USA named Hy-Tech USA Inc., which was incorporated on Feb. 2, 2012. The applicant is one of the equity shareholder of joint venture holding 25% . The applicant made the remittance of 50,000 USD under the LRS scheme towards investment in equity capital of the Joint Venture ‘Hy-Tech USA Inc, USA acquiring 25% stake in the JV. The said amount remitted was not a permissible capital account transaction | 2,734,977 | 68,000 | |
| 466 | Deepak Gupta | Nov/2016 | ODI | FEMA 120/RB-2004 | ODI- Dealy in reporting of Form ODI of overseas investment | 1 years | ODI Delay in reporting of Form ODI of overseas investment in a Joint Venture and overseas remittances without obtaining Unique Identification Number (UIN) | The applicant Mr. Deepak Gupta is a resident Indian holding the post of Director in M/s Ameya Infocom Pvt Ltd., Delhi. The Indian company Ameya Infocom Pvt Ltd. set up a joint venture named ‘Ameya Infocom Inc.’ incorporated in California, USA on March 23, 2015.The applicant, Deepak Gupta made the remittances of Rs. 25,91,336 towards investment in equity capital of the overseas Joint Venture by authorised dealer. However, Form ODI was not submitted and UIN was not obtained from RBI. | 2,591,336 | 63,000 | |
| 467 | Sanjay Gupta | Nov/2016 | ODI | FEMA 120/RB-2004 | ODI- Dealy in reporting of Form ODI of overseas investment | 1 years | ODI Delay in reporting of Form ODI of overseas investment in a Joint Venture and overseas remittances without obtaining Unique Identification Number (UIN) | The applicant is engaged in the business of software development and computer consultancy services. The applicant, Mr. Sanjay Gupta made the remittances of Rs. 25,64,860 towards investment in equity capital of the overseas Joint Venture,through Authorised Dealer. However, Form ODI was not submitted and UIN was not obtained from RBI. | 2,564,860 | 63,000 | |
| 468 | Deepak A Merani | Nov/2016 | ODI | FEMA 120/RB-2004 | ODI- Indian resident promoter made investment in company outside India | 6 years and 6 months | Indian resident promoter made investment in company outside India | Jyoti Ceramic Industries Pvt. Ltd (Add CIN) is an Indian Company engaged in manufacturing of ceramics. The company had invested Euro 75,000 in shares of Jyoti Ceramic,GmbH, acquiring 75% of stake of the overseas entity. The Applicant, Shri Deepak A. Merani, a resident individual, being one of the promoters of Jyoti Ceramic, GmbH had made investment Euro 7500 in order to acquire 7.50% stake in shares of the overseas entity on February 24, 2007 under LRS. | 439,850 | 53,300 | |
| 469 | Softbridge Solutions (India) Pvt. Ltd. | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of inflow of funds received from a person outside India | 2 years 6 months 26 days to 2 years 8 months 25 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity and (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India.(iii) delay in refund of excess amount beyond stipulated 180 days after obtaining RBI’s permission | The applicant company is engaged in the business to undertake and carry on the business of providing software development services, outsourcing of software development services and to build software development centers worldwide. To conduct various training programs in the areas of multi-lingual training, software and hardware training, call center training and to enter into partnership, strategic alliances, ventures in India or abroad to run such training programmes and training centers. The applicant received foreign inward remittance from M/s Softbridge Solutions Pte. Ltd., Singapore towards equity / preference share capital and reported the same to the Reserve Bank.The applicant reported receipt of remittances to the Reserve Bank later than 30 days from the date of receipt of the amount of consideration. he company allotted equity shares/preference shares/convertible preference shares and filed FC-GPRs The applicant company submitted Form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India. The allotment of shares made on December 26, 2008 and February 23, 2009 amounting to Rs.9,46,950/- and Rs. 17,45,000 were made after 180 days of receipt of investment without the approval of Reserve Bank. | 2,691,950 | 88,595 | |
| 470 | Softbridge Solutions (India) Pvt. Ltd. | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 3 years 4 months to 5 years 9 months | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity and (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India.(iii) delay in refund of excess amount beyond stipulated 180 days after obtaining RBI’s permission | The applicant company is engaged in the business to undertake and carry on the business of providing software development services, outsourcing of software development services and to build software development centers worldwide. To conduct various training programs in the areas of multi-lingual training, software and hardware training, call center training and to enter into partnership, strategic alliances, ventures in India or abroad to run such training programmes and training centers. The applicant received foreign inward remittance from M/s Softbridge Solutions Pte. Ltd., Singapore towards equity / preference share capital and reported the same to the Reserve Bank.The applicant reported receipt of remittances to the Reserve Bank later than 30 days from the date of receipt of the amount of consideration. he company allotted equity shares/preference shares/convertible preference shares and filed FC-GPRs The applicant company submitted Form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India. The allotment of shares made on December 26, 2008 and February 23, 2009 amounting to Rs.9,46,950/- and Rs. 17,45,000 were made after 180 days of receipt of investment without the approval of Reserve Bank. | 2,692,000 | 88,595 | |
| 471 | Softbridge Solutions (India) Pvt. Ltd. | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in refund of excess amount beyond 180 days after obtaining RBI's permission | 8 months 11 days to 1 years 27 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity and (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India.(iii) delay in refund of excess amount beyond stipulated 180 days after obtaining RBI’s permission | The applicant company is engaged in the business to undertake and carry on the business of providing software development services, outsourcing of software development services and to build software development centers worldwide. To conduct various training programs in the areas of multi-lingual training, software and hardware training, call center training and to enter into partnership, strategic alliances, ventures in India or abroad to run such training programmes and training centers. The applicant received foreign inward remittance from M/s Softbridge Solutions Pte. Ltd., Singapore towards equity / preference share capital and reported the same to the Reserve Bank.The applicant reported receipt of remittances to the Reserve Bank later than 30 days from the date of receipt of the amount of consideration. he company allotted equity shares/preference shares/convertible preference shares and filed FC-GPRs The applicant company submitted Form FC-GPRs to RBI beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India. The allotment of shares made on December 26, 2008 and February 23, 2009 amounting to Rs.9,46,950/- and Rs. 17,45,000 were made after 180 days of receipt of investment without the approval of Reserve Bank. | 2,692,000 | 88,595 | |
| 472 | My Personal Health Record Express (India) Private Ltd | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of inflow of funds received from a person outside India | 5 years 6 months 15 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity and (ii) Taking on record transfer of shares by investee company, in the absence of certified form FC TRS | The applicant company was incorporated on October 27, 2010 as a Private Limited Company under the Companies Act, 1956. It is engaged in the business of designing and development of systems and applications software either for its own use or for sale in India or for export outside India and to design and develop such systems and application software.Memorandum of Association subscription amounting to Rs.99,000/- was received by the company from M/s Webify Services India Pvt. Ltd.(an Indian Company) on behalf of Mr. Mahesh Uberoi (NRI) on November 20, 2010. 990 Equity Shares of face value Rs. 100/- each were issued to NRI against Indian Rupees i.e. without receiving foreign inward remittance. The inverstors holding the equity shares transferred the shares to the applicant company and the said transaction was not informed to the Authorized Dealer. | 99,000 | 19,051 | |
| 473 | My Personal Health Record Express (India) Private Ltd | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Failure in submission of form FC-TRs | 4 years 2 months 12 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity and (ii) Taking on record transfer of shares by investee company, in the absence of certified form FC TRS | The applicant company was incorporated on October 27, 2010 as a Private Limited Company under the Companies Act, 1956. It is engaged in the business of designing and development of systems and applications software either for its own use or for sale in India or for export outside India and to design and develop such systems and application software.Memorandum of Association subscription amounting to Rs.99,000/- was received by the company from M/s Webify Services India Pvt. Ltd.(an Indian Company) on behalf of Mr. Mahesh Uberoi (NRI) on November 20, 2010. 990 Equity Shares of face value Rs. 100/- each were issued to NRI against Indian Rupees i.e. without receiving foreign inward remittance. The inverstors holding the equity shares transferred the shares to the applicant company and the said transaction was not informed to the Authorized Dealer. | 91,506 | 19,051 | |
| 474 | NMT Shipping Private Limited | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Non submission of Form FC-TRS | 09 months and 02 days | The transfer of shares by resident to nonresident without obtaining certified form FCTRS | The company is engaged in the business in India and abroad of Shipping Lines agency, to act as clearing and forwarding agents, booking trade for shippers as well as undertaking business of transportation and other services in relation to shipping. The shares were allotted on non-repatriation basis to Mrs. Jayashree Gupta as an Original Promoter, Shareholder and Director of the Company and subscription towards the shares was paid from Indian Bank Account of the Promoter. Further, Mr. Rohitash Gupta held 4000 Equity Shares of Rs. 10/- each of M/s NMT Shipping Pvt. Ltd., an Indian Company. The Shares were allotted on non-repatriation basis to Mr. Rohitash Gupta as an Original Promoter, Shareholder, and Director of the company and the subscription towards the shares was paid from Indian Bank Account of the Promoter. The Management of the applicant company had proposed restructuring of shareholding whereby (1) Mrs. Jayashree Gupta was to transfer 667 Equity Shares to M/s NMT Holding BV, Netherlands and (2) Mr. Rohitash Gupta was to transfer 2667 Equity Shares to M/s NMT Holding BV, Netherlands. The transaction of transferring the shares (FCTRS) took place on June 01, 2015 without approval of the Reserve Bank of India. The transfer of these shares without obtaining form FC-TRS duly acknowledged / certified by the AD bank. | 1,800,360 | 12,500 | |
| 475 | Memeticlabs Technologies Private Limited | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 3 months and 14 days to 1 years 9 months and 25 days | FDI Delay in submission of form FCGPRs | The company is engaged in business of Information Technology and computer service activities. The company allotted equity shares on 3 occasions amounting to Rs. 48,63,512.64 from 22.01.2014 to 16.05.2014 to the foreign investor and reported it in form FC-GPR. The applciant submitted form FC-GPRs beyond the stipulated period of 30 days from the date of issue of shares to person resident outside India. | 4,863,512 | 18,655 | |
| 476 | NTT Data Global Delivery Services Private Limited | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in refund of excess amount beyond 180 days after obtaining RBI's permission | 2 years 5 months and 14 days | Delay in refund of excess amount beyond stipulated 180 days after obtaining RBI’s permission | .The company is engaged in the business of software development and Information Technology Enabled Services sector. In the year 2009, another company, Keane Worldzen India Private Limited, (Transferor Company) got amalgamated with the applicant company, pursuant to a Scheme of Amalgamation as sanctioned and approved by the Hon’ble High Court of Delhi vide its order dated July 6, 2009. At the time of amalgamation, it was revealed that the transferor company was in receipt of foreign inward remittances under FDI amounting to a total of Rs.93,28,371.70 in six tranches (as detailed under) against which neither the shares were allotted nor the approval for refund was sought for from Reserve Bank of India and as such become a devolved refund liability of the applicant company pursuant to the scheme of amalgamation. The applicant company approached RBI beyond the period of 180 days. | 9,328,371 | 100,970 | |
| 477 | FJM Cylinders Private Limited | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of inflow of funds received from a person outside India | 1 months and 2 days to 7 months | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity and (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The company is engaged in the business of manufacturing of gas cylinders.The applicant company had received a total of 9 foreign inward remittances from August 5, 2011 to August 19, 2014 for issue of equity shares, out of which, on 5 occasions, the company had reported the inward remittances beyond the period of 30 days from the date of receipt of consideration.The company had allotted equity shares on 5 occasions, out of which, on 4 occasions the reporting of the issue was done beyond the prescribed period | 127,500,000 | 112,750 | |
| 478 | FJM Cylinders Private Limited | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 15 days to 4 months | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity and (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The company is engaged in the business of manufacturing of gas cylinders.The applicant company had received a total of 9 foreign inward remittances from August 5, 2011 to August 19, 2014 for issue of equity shares, out of which, on 5 occasions, the company had reported the inward remittances beyond the period of 30 days from the date of receipt of consideration.The company had allotted equity shares on 5 occasions, out of which, on 4 occasions the reporting of the issue was done beyond the prescribed period | 152,500,000 | 112,750 | |
| 479 | BPTP Parklands Pride Limited | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 1 months and 17 days to 1 years 10 months and 21 days, | FDI Delay in submission of form FCGPRs | The applicant company is engaged in construction and development of real estate projects (Township & Housing Projects). The applicant company had issued Fully Convertible Debentures (FCDs) on five occasions, out of which, on two occasions, FCDs amounting to Rs. 88,32,00,000.00 issued on 23.10.2006 and on 15.10.2008 were reported in form FC-GPR beyond the period of 30 days from the date of receipt of consideration. | 883,200,000 | 219,000 | |
| 480 | Presidency Infraheights Private Limited | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of inflow of funds received from a person outside India | 24 days to 2 years 1 months and 21 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity and (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India.(iii) delay in refund of excess amount beyond stipulated 180 days after obtaining RBI’s permission | The company is engaged in the business of infrastructure and development.The company had received a total of 17 foreign inward remittances from October 6, 2012 to March 25, 2015 for issue of equity shares, out of which, on 11 occasions the company had reported inward remittances later than 30 days from the date of receipt of the said amount. The company had allotted equity shares on 3 occasions to the foreign investors from 31.03.2014 to 22.05.2015, the reporting of which were done beyond 30 days from the date of issue of shares to a person resident outside India. The company had received eight remittances amounting to Rs. 40,50,00,000/- from October 6, 2012 to February 26, 2014 and allotted equity shares without prior approval of Reserve Bank of India. | 510,000,000 | 2,440,000 | |
| 481 | Presidency Infraheights Private Limited | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 1 months and 17 days to 1 years 1 months and 24 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity and (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India.(iii) delay in refund of excess amount beyond stipulated 180 days after obtaining RBI’s permission | The company is engaged in the business of infrastructure and development.The company had received a total of 17 foreign inward remittances from October 6, 2012 to March 25, 2015 for issue of equity shares, out of which, on 11 occasions the company had reported inward remittances later than 30 days from the date of receipt of the said amount. The company had allotted equity shares on 3 occasions to the foreign investors from 31.03.2014 to 22.05.2015, the reporting of which were done beyond 30 days from the date of issue of shares to a person resident outside India. The company had received eight remittances amounting to Rs. 40,50,00,000/- from October 6, 2012 to February 26, 2014 and allotted equity shares without prior approval of Reserve Bank of India. | 605,000,000 | 2,440,000 | |
| 482 | Presidency Infraheights Private Limited | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in refund of excess amount beyond 180 days after obtaining RBI's permission | 7 months and 5 days to 1 years 11 months and 25 days. | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity and (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India.(iii) delay in refund of excess amount beyond stipulated 180 days after obtaining RBI’s permission | The company is engaged in the business of infrastructure and development.The company had received a total of 17 foreign inward remittances from October 6, 2012 to March 25, 2015 for issue of equity shares, out of which, on 11 occasions the company had reported inward remittances later than 30 days from the date of receipt of the said amount. The company had allotted equity shares on 3 occasions to the foreign investors from 31.03.2014 to 22.05.2015, the reporting of which were done beyond 30 days from the date of issue of shares to a person resident outside India. The company had received eight remittances amounting to Rs. 40,50,00,000/- from October 6, 2012 to February 26, 2014 and allotted equity shares without prior approval of Reserve Bank of India. | 405,000,000 | 2,440,000 | |
| 483 | Jupiter Corporate Services Ltd. | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of inflow of funds received from a person outside India | 1163 and 1277 days. | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India (iii) Issue of ineligible instrument under the Foreign Direct Investment Scheme | The applicant is engaged in trading in cereals and pulses, security dealing activity and insurance carriers (life). The applicant company has received total two inflows amounting to ₹ 14,63,21,032/- from Foreign investors under automatic route and reported the same to Reserve Bank of India ater than 30 days from the date of receipt of the amount of consideration.The applicant allotted equity shares and filed FC-GPRs. They submitted form FC-GPRs beyond 30 days from the date of issue of shares to the overseas investor. The company had reported the inflow amounting to ₹14,63,22,034/- and shares were issued on 06/06/2007 on partly paid basis as the company received first inflow amounting to ₹7,38,92,723/-on 06/06/2007and the balance amount of ₹7,24,28,249/- was received on 28/09/2007. However, the partly paid shares were not were not eligible FDI instruments under the FDI Scheme at the relevant time. | 146,321,032 | 1,846,915 | |
| 484 | Jupiter Corporate Services Ltd. | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 1266 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India (iii) Issue of ineligible instrument under the Foreign Direct Investment Scheme | The applicant is engaged in trading in cereals and pulses, security dealing activity and insurance carriers (life). The applicant company has received total two inflows amounting to ₹ 14,63,21,032/- from Foreign investors under automatic route and reported the same to Reserve Bank of India ater than 30 days from the date of receipt of the amount of consideration.The applicant allotted equity shares and filed FC-GPRs. They submitted form FC-GPRs beyond 30 days from the date of issue of shares to the overseas investor. The company had reported the inflow amounting to ₹14,63,22,034/- and shares were issued on 06/06/2007 on partly paid basis as the company received first inflow amounting to ₹7,38,92,723/-on 06/06/2007and the balance amount of ₹7,24,28,249/- was received on 28/09/2007. However, the partly paid shares were not were not eligible FDI instruments under the FDI Scheme at the relevant time. | 146,322,034 | 1,846,915 | |
| 485 | Jupiter Corporate Services Ltd. | Nov/2016 | FDI | FEMA 20/2000-RB | FDI Issue of ineeligible instrument | (i) 1163 and 1277 days (ii) 1266 days (iii) 3261 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India (iii) Issue of ineligible instrument under the Foreign Direct Investment Scheme | The applicant is engaged in trading in cereals and pulses, security dealing activity and insurance carriers (life). The applicant company has received total two inflows amounting to ₹ 14,63,21,032/- from Foreign investors under automatic route and reported the same to Reserve Bank of India ater than 30 days from the date of receipt of the amount of consideration.The applicant allotted equity shares and filed FC-GPRs. They submitted form FC-GPRs beyond 30 days from the date of issue of shares to the overseas investor. The company had reported the inflow amounting to ₹14,63,22,034/- and shares were issued on 06/06/2007 on partly paid basis as the company received first inflow amounting to ₹7,38,92,723/-on 06/06/2007and the balance amount of ₹7,24,28,249/- was received on 28/09/2007. However, the partly paid shares were not were not eligible FDI instruments under the FDI Scheme at the relevant time. | 146,322,034 | 1,846,915 | |
| 486 | Radha Madhav Corporation Ltd. | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of inflow of funds received from a person outside India | 162 to 453 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity and (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India.(iii) delay in refund of excess amount beyond stipulated 180 days after obtaining RBI’s permission | The company is engaged in manufacturing of plastic Films. The applicant company has received total eight inflows amounting to ₹51,20,53,338/- from Foreign investors under automatic route and reported the same to Reserve Bank of India The applicant reported the receipt of eight inward remittances, amounting to ₹5120.53 lakh (₹51,20,53,338/-) to the Ahmedabad Regional Office of the Reserve Bank of India. Out of which, three inflows amounting to ₹38,13,73,335/- were reported within stipulated period. However five inflows amounting to ₹13,06,80,003/- were reported later than 30 days from the date of receipt of the amount of consideration. The applicant allotted equity shares and filed FC-GPRs. the applicant has filed six form FC-GPRs amounting to ₹50,27,59,400/-. Out of which, two form FC-GPRs amounting to ₹14,41,50,000/-were filed within stipulated period. However four form FC-GPRs amounting to ₹ 35,86,09,400/- were filed with the delay beyond 30 days from the date of issue of shares to the overseas investor. the applicant has allotted shares amounting to ₹50,27,59,400 against total inflow of ₹51,20,53,338/-. It is observed that shares amounting to ₹6,31,50,000/-were allotted with the delay of 53 days beyond stipulated period of 180 days without obtaining prior approval from Reserve Bank of India. Further, the excess amount of ₹92,93,938/- was refunded to the overseas investors within stipulated period of 180 days | 13,608,003 | 1,217,773 | |
| 487 | Radha Madhav Corporation Ltd. | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 4 to 2682 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity and (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India.(iii) delay in refund of excess amount beyond stipulated 180 days after obtaining RBI’s permission | The company is engaged in manufacturing of plastic Films. The applicant company has received total eight inflows amounting to ₹51,20,53,338/- from Foreign investors under automatic route and reported the same to Reserve Bank of India The applicant reported the receipt of eight inward remittances, amounting to ₹5120.53 lakh (₹51,20,53,338/-) to the Ahmedabad Regional Office of the Reserve Bank of India. Out of which, three inflows amounting to ₹38,13,73,335/- were reported within stipulated period. However five inflows amounting to ₹13,06,80,003/- were reported later than 30 days from the date of receipt of the amount of consideration. The applicant allotted equity shares and filed FC-GPRs. the applicant has filed six form FC-GPRs amounting to ₹50,27,59,400/-. Out of which, two form FC-GPRs amounting to ₹14,41,50,000/-were filed within stipulated period. However four form FC-GPRs amounting to ₹ 35,86,09,400/- were filed with the delay beyond 30 days from the date of issue of shares to the overseas investor. the applicant has allotted shares amounting to ₹50,27,59,400 against total inflow of ₹51,20,53,338/-. It is observed that shares amounting to ₹6,31,50,000/-were allotted with the delay of 53 days beyond stipulated period of 180 days without obtaining prior approval from Reserve Bank of India. Further, the excess amount of ₹92,93,938/- was refunded to the overseas investors within stipulated period of 180 days | 358,609,400 | 1,217,773 | |
| 488 | Radha Madhav Corporation Ltd. | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in refund of excess amount beyond 180 days after obtaining RBI's permission | 53 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity and (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India.(iii) delay in refund of excess amount beyond stipulated 180 days after obtaining RBI’s permission | The company is engaged in manufacturing of plastic Films. The applicant company has received total eight inflows amounting to ₹51,20,53,338/- from Foreign investors under automatic route and reported the same to Reserve Bank of India The applicant reported the receipt of eight inward remittances, amounting to ₹5120.53 lakh (₹51,20,53,338/-) to the Ahmedabad Regional Office of the Reserve Bank of India. Out of which, three inflows amounting to ₹38,13,73,335/- were reported within stipulated period. However five inflows amounting to ₹13,06,80,003/- were reported later than 30 days from the date of receipt of the amount of consideration. The applicant allotted equity shares and filed FC-GPRs. the applicant has filed six form FC-GPRs amounting to ₹50,27,59,400/-. Out of which, two form FC-GPRs amounting to ₹14,41,50,000/-were filed within stipulated period. However four form FC-GPRs amounting to ₹ 35,86,09,400/- were filed with the delay beyond 30 days from the date of issue of shares to the overseas investor. the applicant has allotted shares amounting to ₹50,27,59,400 against total inflow of ₹51,20,53,338/-. It is observed that shares amounting to ₹6,31,50,000/-were allotted with the delay of 53 days beyond stipulated period of 180 days without obtaining prior approval from Reserve Bank of India. Further, the excess amount of ₹92,93,938/- was refunded to the overseas investors within stipulated period of 180 days | 63,150,000 | 1,217,773 | |
| 489 | Greenfileds Derivatives Pvt. Ltd. | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of inflow of funds received from a person outside India | 13 months 16 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity and (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India.(iii) delay in refund of excess amount beyond stipulated 180 days after obtaining RBI’s permission | The company is engaged in in manufacture and trading of cattle feeds, sea foods, animal foods and commodities. The applicant company has received two inflows amounting to ₹49,83,550/-( out of which,₹9,83,550/-was received as interest free Loan for Pre-incorporation expenses) on November 27,2013 and ₹40,00,000 on June 8, 2015 from Foreign investor under automatic route and reported the same to Reserve Bank of India. Out of these 2 inflows one inflow was reported to RBI beyond the period of 30 days from the date of receipt of consideration. The applicant allotted equity shares and filed FC-GPRs. the applicant has filed one form FC-GPR amounting to ₹ 40,00,000/- beyond 30 days from the date of issue of shares to the overseas investor. The company has issued shares for ₹40,00,000/- out of total consideration amount of ₹80,00,000/- received. The excess amount of ₹40,00,000/-was refunded with a delay of 345 days beyond stipulated period of 180 days after obtaining approval from Reserve Bank. | 4,000,000 | 86,125 | |
| 490 | Greenfileds Derivatives Pvt. Ltd. | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 27 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity and (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India.(iii) delay in refund of excess amount beyond stipulated 180 days after obtaining RBI’s permission | The company is engaged in in manufacture and trading of cattle feeds, sea foods, animal foods and commodities. The applicant company has received two inflows amounting to ₹49,83,550/-( out of which,₹9,83,550/-was received as interest free Loan for Pre-incorporation expenses) on November 27,2013 and ₹40,00,000 on June 8, 2015 from Foreign investor under automatic route and reported the same to Reserve Bank of India. Out of these 2 inflows one inflow was reported to RBI beyond the period of 30 days from the date of receipt of consideration. The applicant allotted equity shares and filed FC-GPRs. the applicant has filed one form FC-GPR amounting to ₹ 40,00,000/- beyond 30 days from the date of issue of shares to the overseas investor. The company has issued shares for ₹40,00,000/- out of total consideration amount of ₹80,00,000/- received. The excess amount of ₹40,00,000/-was refunded with a delay of 345 days beyond stipulated period of 180 days after obtaining approval from Reserve Bank. | 4,000,000 | 86,125 | |
| 491 | Greenfileds Derivatives Pvt. Ltd. | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in refund of excess amount beyond 180 days after obtaining RBI's permission | 11 months 15 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity and (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India.(iii) delay in refund of excess amount beyond stipulated 180 days after obtaining RBI’s permission | The company is engaged in in manufacture and trading of cattle feeds, sea foods, animal foods and commodities. The applicant company has received two inflows amounting to ₹49,83,550/-( out of which,₹9,83,550/-was received as interest free Loan for Pre-incorporation expenses) on November 27,2013 and ₹40,00,000 on June 8, 2015 from Foreign investor under automatic route and reported the same to Reserve Bank of India. Out of these 2 inflows one inflow was reported to RBI beyond the period of 30 days from the date of receipt of consideration. The applicant allotted equity shares and filed FC-GPRs. the applicant has filed one form FC-GPR amounting to ₹ 40,00,000/- beyond 30 days from the date of issue of shares to the overseas investor. The company has issued shares for ₹40,00,000/- out of total consideration amount of ₹80,00,000/- received. The excess amount of ₹40,00,000/-was refunded with a delay of 345 days beyond stipulated period of 180 days after obtaining approval from Reserve Bank. | 4,000,000 | 86,125 | |
| 492 | Varsun Foods Pvt. Ltd. | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in reporting of inflow of funds received from a person outside India | 2 TO 114 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity and (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | the company is engaged in manufacturing of biscuits, cakes, pastries and rusks etc.The applicant company has received total thirteen inflows amounting to ₹1,89,80,000/- from Foreign investors under automatic route and reported the same to Reserve Bank of India. The applicant reported the receipt of thirteen inward remittances, amounting to ₹189.80 lakh (₹1,89,80,000/-) to the Ahmedabad Regional Office of the Reserve Bank of India. Out of which, two inflows amounting to ₹12,80,000/-were reported within stipulated period. However, eleven inflows amounting to ₹1,77,00,000/-were reported later than 30 days from the date of receipt of the amount of consideration.The applicant allotted equity shares and filed FC-GPRs. the applicant has filed four form FC-GPRs amounting to ₹1,89,80,000/-. The forms FC-GPRs were submitted to RBI beyond 30 days from the date of issue of shares to the overseas investor. | 17,700,000 | 29,175 | |
| 493 | Varsun Foods Pvt. Ltd. | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- Delay in submission of form FC-GPRs | 9 to 119 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity and (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | the company is engaged in manufacturing of biscuits, cakes, pastries and rusks etc.The applicant company has received total thirteen inflows amounting to ₹1,89,80,000/- from Foreign investors under automatic route and reported the same to Reserve Bank of India. The applicant reported the receipt of thirteen inward remittances, amounting to ₹189.80 lakh (₹1,89,80,000/-) to the Ahmedabad Regional Office of the Reserve Bank of India. Out of which, two inflows amounting to ₹12,80,000/-were reported within stipulated period. However, eleven inflows amounting to ₹1,77,00,000/-were reported later than 30 days from the date of receipt of the amount of consideration.The applicant allotted equity shares and filed FC-GPRs. the applicant has filed four form FC-GPRs amounting to ₹1,89,80,000/-. The forms FC-GPRs were submitted to RBI beyond 30 days from the date of issue of shares to the overseas investor. | 18,980,000 | 29,175 | |
| 494 | Sachin Patel Developers LLP | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- conversion of a company with FDI into LLP, without prior FIPB/ Government approval | 3 years 3 months | Conversion of a company with FDI into LLP, without prior FIPB/ Government approval | The applicant is engaged in the business of construction and development of urban and rural immovable property. The applicant received Rs. 3,20,00,000/- as FDI from non-residents, namely Shri Shailesh Patel and Shri Rajendra Patel in the years 2007 and 2008. At the time of conversion of the applicant from a private limited company to an LLP, it had the abovementioned foreign investment. The conversion of the applicant to LLP, without prior FIPB/ Government approval, was thus in contravention of Regulation 5(9) read with Paragraph 4 of Schedule 9 of Notification No. FEMA 20/2000-RB, as amended from time to time, as FDI in LLP was under Government approval route. The post-facto FIPB approval of foreign investment upon conversion into LLP was granted to the applicant vide FIPB letter No. 9/SIA/NFC/2015-FC1, dated December 8, 2015, subject to compounding. | 32,000,000 | 258,000 | |
| 495 | Rohitash Gupta | Nov/2016 | FDI | FEMA 20/2000-RB | FDI- No person being Indian Resident shall make any investment outside India | 11 months | Transfer of shares by a Non resident Indian to N.R. entity without prior approval of RBI | The applicant, Mr. Rohitash Gupta, a Non - Resident Indian, held 4000 shares of NMT Shipping Private Limited, Mumbai, an Indian Company incorporated on January 2, 2006. NMT Shipping Pvt. Ltd. is a small Freight forwarding/ Agency company, and is acting as an agent for shipments of NMT Holding BV, Netherlands for their shipments to India. The shares of NMT Shipping Pvt. Ltd. were allotted to the applicant, as a promoter and Director when he was resident in India, and the consideration was paid out of his resident account.The applicant has since become a non-resident Indian. The applicant transferred 2667 equity shares amounting to USD 23,987 (INR 15,20,775) to NMT Holding BV, Netherlands, a non-resident company, on June 1, 2015, without the prior approval of the Reserve Bank of India. | 1,520,775 | 57,600 | |
| 496 | Vedanta Limited | Dec/2016 | ODI | FEMA 19/RB-2000 | Breach of Provisions | 3 years to 16 years | (i) The Indian Party did not obtain share certificate of the overseas entity for the investment made and disinvested from its WOS on w.e.f March 24,2004. (ii) The Indian Party did not submit APR since its inception i.e. since 2001 to 2003 (till disinvestment) for three years. (iii) the Indian Party had undertaken disinvestment transaction under automatic route and entire investment was written off without ensuring compliance (submission of APRs and share certificates) with extant ODI regulations. | The Applicant, a resident company in India in the year 2001 had made an investment of HKD 17,500 each in a joint venture along with another Indian party, namely Sterlite Technologies Ltd. | 149,759 | 241,000 | |
| 497 | The Rajagiri Rubber & Produce Co. Ltd. | Dec/2016 | ODI | FEMA 120/RB-2004 | Delay in Submission of Form ODI | (i) 2 years (ii) 2 years | (i) Delay in Submission of Form ODI and Subsequent Remittances made without obtaining UIN (ii) Delay in receipt of Share Certificate | The Rajagiri Rubber & Produce Co Ltd , an Indian Party (IP) incorporated in India on October 25,1963 under the Companies Act, 1956, had remitted USD 7000/- in Singapore through Bank of Baroda in two tranches on March 27, 2014 and on December 8, 2014, to set up their WOS in Singapore namely “ Dalp Holdings Singapore Pte Ltd”. The overseas direct investment was towards equity as capital contribution for which Form ODI Part I was not submitted within the prescribed period. On receipt of Form ODI Part I, both the transactions were regularized by allotting the UIN BYWAZ 20160594 to the overseas entity on February 25, 2016 based on second remittance under automatic route. The AD Bank has reported the APRs for the year 2014 and 2015 in OID portal. | (i) 4,32,250 (ii) 3,11,250 | 72,377 | |
| 498 | Aptean Software India Pvt. Ltd. | Dec/2016 | ECB | FEMA 3/2000-RB | Breach of Provisions | 6 years to 13 years | outstanding payment liability towards parent company beyond specified period without taking the approval of the Reserve Bank of India (RBI), | The applicant is a subsidiary of Aptean Canada Corporation, Canada. The applicant is engaged in the business of software development in various sectors for the clients of the parent company. The applicant entered into a Service Agreement with its parent company for rendering the services on cost plus mark-up basis and payment was received by the applicant by raising monthly invoices on the parent company. As part of its business operations, the employees of the applicant were required to travel to the parent company overseas for attending certain business meetings. In this connection, the parent company incurred travel, etc., expenses amounting to USD 696,842 (Rs.3,09,95,524/-) during the period 2003-04 to 2010-11 onbehalf of the applicant which were charged to the applicant. The applicant did not make payment towards the expenses incurred by the parent company on its behalf and payment was remitted with delay to the parent company on June 07, 2016 after obtaining post facto RBI approval vide letter no. FED.BG.EPD No. 9764/16.03.001/2015-16 dated May 27, 2016 | 30,995,524 | 282,500 | |
| 499 | Patel Realty (India) Limited | Dec/2016 | ODI | FEMA 120/RB-2004 | Breach of Provisions | (i) 1 years 6 months (ii) 4.4 years to 5.5 years (iii) 8 years (iv) 4 years | (i) utilization of funds of the overseas branch of parent company for direct investment into overseas step down subsidiary; (ii) extending loan to step down subsidiary through overseas branch office; (iii) not obtaining share certificate in respect of overseas investment within the prescribed period and nonsubmission of evidence of conversion of such investment into loan; (iv) delay in submission of Annual Performance Reports (APRs) | The applicant was originally incorporated as Patel Realty (India) Private Limited on January 18, 2007 under the Companies Act, 1956. The name of the applicant was changed to Patel Realty (India) Limited on April 03, 2007. The applicant is engaged in the infrastructure sector and operates as builder and contractor. The applicant remitted USD 3,25,000 (Rs.1,99,51,750/-) directly from the branch office of its parent company, Patel Engineering Limited (PEL), USA to the account of its step down subsidiary (SDS), Les Salines Development Limited (LSDL) in Mauritius on January 27, 2015. The SDS was engaged in developing an integrated township on the land leased out by the Government of Mauritius and the funds were remitted to meet the financial needs of the SDS. LSDL is the subsidiary of Waterfront Developers Limited (WDL), Mauritius, a wholly owned subsidiary (WOS) of the applicant. The utilization of funds of overseas branch office of the parent company for direct investment in the SDS is not a permissible method of investment and is a violation of Regulation 6(3) of Notification No. FEMA 120/2004-RB dated July 7, 2004. Further, the applicant extended loan to the SDS through its branch office in Mauritius, which is not a permissible method of funding On August 04, 2008, the applicant remitted a sum of USD 17,50,000 to WDL, Mauritius (WOS of the applicant) towards share application money. However, subsequently WDL did not issue the shares and an amount of USD 17,40,000 was returned by WDL to the applicant on September 24, 2008. The balance amount of USD 10,000 was retained by WDL and the applicant has submitted that this amount was taken in its books as a loan to WDL. Whereas the applicant did not obtain share certificate for the above investment within the prescribed period or submit any document to the RBI to evidence the conversion of the amount to loan. The applicant submitted that the conversion of share application money of USD 10,000 into loan by the applicant may be taken on record by Reserve Bank of India (RBI) and this request was acceded to in November, 2016. | (i) 1,99,51,750 (ii) 9,41,31,427 (iii) USD 10000 | 1,017,800 | |
| 500 | Acme Cleantech Solutions Private Limited | Dec/2016 | ODI | FEMA 120/RB-2004 | Breach of Provisions | 1.5 years to 6 years | (i) delay in repatriation of dues receivable from foreign entity beyond the stipulated time period and (ii) undertaking disinvestment despite outstanding receivables in the form of interest on loans | The applicant was incorporated as Acme Tele Power Limited on January 14, 2003. It subsequently converted to a private limited company and changed its name to Acme Cleantech Solutions Limited vide issue of fresh certificate of incorporation on March 24, 2015. The applicant is engaged in the business of energy management, innovation solutions for wireless telecommunications and alternate energy sector. The applicant incorporated a Wholly Owned Subsidiary (WOS), Acme Tele Power (Cyprus) Limited in Cyprus, on May 3, 2006.The applicant had made certain equity investments as well as extended loan to the WOS The interest amount to the extent of USD 235315.74 was not repatriated within 60 days of its falling due, thereby contravening Regulation 15(ii) of Notification No. FEMA 120/2004-RB. The applicant disinvested from the WOS on January 31, 2015, while its receivables were outstanding (unpaid loan amount to the extent of USD 1275120.68 and unpaid interest amount to the extent of USD 235315.74), thereby contravening Regulation 16(1)(iv) of Notification No. FEMA 120/2004-RB. | 9,03,29,870 | 678,348 | |
| 501 | Dada Sons Private Limited | Dec/2016 | ODI | FEMA 120/RB-2004 | Breach of Provisions | (i) 11 months to 2 years (ii) 1 months to 1.3 years (iii) 2 months to 3 months | (i) making total financial commitment in excess of the prescribed percentage of networth (ii) delay in filing Form ODI (iii) nonreporting of setting up of stepdown subsidiary within the stipulated time period (iv) nonreceipt of share certificates within the stipulated time period (v) nonsubmission of Annual Performance Reports (APR) within the stipulated time period | The applicant was incorporated as Dada Sons Private Limited on July 24, 2013. The applicant acts as a Holding Company to companies in India and abroad and is engaged in the business of trading in automobiles, spares and accessories. A Wholly Owned Subsidiary (WOS) of the applicant company, namely, Dada Sons Singapore Pte. Ltd., was incorporated in Singapore on November 04, 2014. Further, a step-down subsidiary, namely, Transrev RSA Pty. Ltd. was set up in South Africa, on September 18, 2014. Investments were made in the automatic route when the applicant’s net worth was negative, thus contravening Regulation 6(2)(i) of Notification No. FEMA 120/2004-RB. | (i) 1,25,44,702 (ii) 1,25,44,702 (iii) 20,11,729 | 262,659 | |
| 502 | Grt Jewellers India Private Limited | Dec/2016 | ODI | FEMA 120/RB-2004 | breach of provisions | 1 years | offering Standby Letter of Credit (SBLC) to overseas lending bank on behalf of first level step down subsidiary (SDS) in contravention of the provisions of Regulation 6(3) of Foreign Exchange Management (Transfer or Issue of any Foreign Security) Regulations, 2004 | The applicant is engaged in the retail business of gold jewellery, diamond, silver, platinum, semi-precious stones, watches, etc. The applicant set up a wholly owned subsidiary (WOS), GRT Retail International PTE Limited, in Singapore on November 17, 2014 for extending its retail business overseas. Subsequently, on March 08, 2015, the applicant set up a first level SDS in Dubai viz., GRT Jewellers LLC, Dubai through its WOS in Singapore. The WOS held 49% share capital in the SDS. On March 02, 2016, the WOS in Singapore withdrew its shareholding in the SDS and the WOS was taken over by GRT Retail DMCC, Dubai. As a result of the acquisition, the SDS viz., GRT Jewellers LLC, Dubai became a second level SDS of the applicant Meanwhile, on June 03, 2015, in order to enable the above SDS, GRT Jewellers LLC, Dubai, to raise working capital loan overseas, the applicant offered SBLC of USD 5 million (Rs.31,98,55,000/-) through HDFC Bank Limited in India to HDFC Bank Limited in Bahrain on behalf of the then first level SDS. This was in contravention of the provisions of Regulation 6(3) of Notification No. FEMA 120/2004-RB read with Regulation 5 of Notification No. FEMA 8/2000-RB. | 319,855,000 | 660,000 | |
| 503 | Pakushve Ventures | Dec/2016 | ODI | FEMA 120/RB-2004 | Breach of provisions | 10 months | overseas investment by partnership firm without RBI Approval | The Applicant, an unregistered partnership firm at the time of making overseas direct investment, had remitted USD 10,000 (INR 6,37,300 ) as equity contribution on July 14, 2015 without prior approval of the Reserve Bank has resulted in contravention of the provisions of Regulation 19 (A) of Notification No. FEMA 120/RB-2004 dated July 7, 2004. | 637,300 | 53,000 | |
| 504 | Sanmar Group International Limited | Dec/2016 | ODI | FEMA 120/RB-2004 | Breach of provisions | 2 years to 3 years | issuance of corporate guarantees by the applicant in favour of overseas lenders for facilities to be availed by third and subsequent level step down subsidiaries (SDS) of the applicant without prior approval of the Reserve Bank of India (RBI) | The applicant is engaged in the business of providing financial and management support to international operating ventures of the group. The applicant set up a wholly owned subsidiary (WOS), Sanmar Overseas Investments AG (SOIAG) in Switzerland on November 02, 2006 to expand the group’s operations in the areas of chemical, engineering and shipping. SOIAG acquired Trust Chemical Industries LLC Egypt on March 20, 2007 and renamed it as TCI Sanmar Chemicals SAE, Egypt (TCI). This acquisition was effected through a step down subsidiary structure whereby: Cav-Nile AG, Switzerland was held 100% by SOIAG Pharaoh International Limited (PIL), Cayman Islands was held 100% by Cav-Nile AG, Switzerland Pharaoh Consolidations Limited (PCL), Cayman Islands was held 100% byPIL Pharaoh Egyptian Holdings Limited, Cayman Islands (PEHL) was held 100% by PCL. The operating company, TCI, was held jointly by PEHL and PIL. Under the above structure, the applicant is the ultimate holding company having 100% economic interest in all the companies in the chain, including TCI. The applicant stated that the above overseas structure was set up with a view to raising finance through bond offering in the international market for project funding relating to TCI. However, the applicant was unable to raise funds through this mode and subsequently resorted to borrowings from overseas branches of Indian banks to fund TCI’s acquisitions, operations and expansion in Egypt. In the process, the following corporate guarantees / performance guarantees were issued by the applicant and parent / group / associate companies on behalf of (i) Pharaoh Consolidation Limited, (ii) Matrix Metals Holdings Inc., and (iii) Sanmar Chemicals, which are third and subsequent level step down subsidiaries overseas, underautomatic route without prior approval of Reserve Bank of India (RBI) in contravention of Regulation 6(4) of Notification No. FEMA 120/2000-RB: | 3,10,880 crores | 17,600,000 | |
| 505 | Atc India Infrastructure Private Limited | Dec/2016 | FDI | FEMA 20/2000-RB | breach of provisions | 5 to 6 years | issue of shares of a dormant company under primary and rights issue to NonResident Investor company without prior approval of Foreign Investment Promotion Board (FIPB) in terms of para 4.6.3.2 of Consolidated FDI Policy Circular of 2011. | ATC India Infrastructure pvt ltd (hereinafter called as ‘ATCII’’) is a company incorporated on April 27, 2011 and is engaged in the business of operating maintaining and providing management services to infrastructure companies, including, but limited to, passive infrastructure companies, etc. which is eligible for receiving 100% Foreign Direct Investment (FDI). ATCII received foreign direct investment of Rs.100,000 on November 16, 2011 from ATC Asia Pacific pte . ltd. Singapore (hereinafter called APPL), against which 10,000 shares were issued on February 6, 2012. Additional FDI of INR 200,000 was received from AAP on March 30, 2015 against which it issued 200000 equity shares on March 31, 2015. ATCII could not commence its operations until March 1, 2016. Hence it was a ‘Dormant Company’ from date of incorporation to March 1, 2016.According to para 4.6.3.2 of Consolidated FDI Policy effective April 1, 2011, FDI in companies which do not have any operations required prior approval of Government / FIPB. When ATCII approached FIPB for post facto approval, FIPB issued approval letter No.FC II 27(2016)/180 (2015) dated April 12, 2016 granting the approval subject to “compounding by RBI for not taking prior approval under Para 3.1.3.3 of the FDI Policy 2015 in respect of ATC India Infrastructure Private Limited which is a dormant WoS of M/s ATC Asia Pacific Pte. Ltd. Singapore”. | 300,000 | 14,416 | |
| 506 | Jayshree Rohitash Gupta | Dec/2016 | FDI | FEMA 20/2000-RB | Transfer of shares held on non-repatriable basis by non-resident Indian (NRI) to Non-resident (NR) company. | 1 years | Transfer of shares held on nonrepatriable basis by nonresident Indian (NRI) to Nonresident (NR) company. | The applicant Mrs. Jayshree Gupta as a promoter held 4000 equity shares of Rs.10 each (being 40% stake) of NMT Shipping pvt ltd (hereinafter called as ‘NSPL’) an Indian company incorporated on January 2, 2016. NSPL is engaged in the business of rendering specialised freight handling services to its domestic and international clients. NSPL specialises in the world wide shipment of cars, trucks, trailers and other self-propelled or rolling cargo. It is an associate of the global network of NMT Group having its headquarters at Netherlands.NSPL had proposed restructuring of shareholding whereby applicant was to transfer 667 shares to NMT Holding BV, Netherlands for at the price of Rs. 540 per share, total consideration being Rs. 3,60,180, as observed from seller’s consent letter dated May 15, 2015. According to the valuation report dated May 5, 2015 of AVS & co. Chartered Accountants, the value per share calculated as per discounted cash flow method was Rs.535 per share. Amount of USD 5987 converted at exchange rate of 1USD=INR 63.9800 amounting to Rs. 383,048.26 on conversion, was credited to the account of applicant on May 13, 2015.The applicant approached Mumbai Regional Office of Reserve Bank of India for post facto approval for transfer of shares from NRI to NR vide letters HDFC/FDI/2015-16/1878 &1879 dated November 30, 2015. Approval was granted vide letter FED.MRO.CAP/10603/04.82.002/2015-16 dated May 03, 2016 subject to the applicant applying for compounding of contravention of Reg 9(2)(ii) of FEMA Notification No.20/2000-RB dated May 3, 2000 as amended from time to time. Also, applicant was advised to file rectified form FC-TRS with AD Bank. Accordingly, NMT Holding B.V. Netherlands filed the revised form FCTRS with HDFC Bank, Fort Mumbai and the same was certified by AD Bank on August 8, 2016. | 383,048 | 11,000 | |
| 507 | Cliff View Holidays Private Limited | Dec/2016 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 week to 1.3 years (ii) 2 months to 11 months | (i) delay in reporting receipt of funds for issue of shares and (ii) delay in filing of form FCGPR beyond the stipulated time period | The applicant, a resident company, was incorporated as Cliff View Holidays Private Limited on September 24, 2012 under the Companies Act, 1956. The applicant is engaged in the business of developing, running and maintaining hotels and resorts. The applicant received the inward remittances, for the issue of shares (transactions in which there was a delay in reporting. | (i) 1,58,71,21,547 (ii) 1,81,37,260 | 47,125 | |
| 508 | Ubm Medica India Private Limited | Dec/2016 | FDI | FEMA 20/2000-RB | Recording of transfer withour Form FC - TRS | 2 years | taking on record by the applicant the transfer of its shares from a resident individual to nonresident entities without certified Form FCTRS | The applicant was incorporated as a private limited company, CIMSMED Private Limited on May 11, 2000 under theCompanies Act, 1956.The applicant is engaged in the business of healthcare communication in the field of health, healthcare, medicine, drugs, alternative medicine, pharmaceuticals, medical equipment, etc. The current issued, subscribed and paid up capital of the applicant is Rs.2,00,000 divided into 200 shares of Rs.1000 each. United Pascal Holdings BV (UPH), Netherlands, a non-resident entity and wholly owned subsidiary of United Business Media Limited (UBML), acquired 160 equity shares of the applicant in 2004 of face value Rs.1000/- per share, constituting 80% of the paid up share capital of the applicant, from Santa Medica Holding S.a.r.l., France, another non-resident entity. The acquisition of shares of the applicant by UPH was approved by FIPB on December 11, 2001. With the above acquisition of shares by UPH, the applicant became a joint venture between UPH and Shri Venkataraman Krishnan, a resident Indian who held the balance20% of the equity of the applicant. Following disputes between UPH and Shri Krishnan, UPH brought proceedings against Shri Krishnan in the Delhi High Court. Pursuant to a settlement with Shri Krishnan, UPH agreed to purchase all the shares of the applicant held by Shri Krishnan (constituting 20% of the paid up capital of the applicant). The Delhi High Court confirmed the settlement between the two parties vide order dated June 01, 2012 which, among other things, stipulated that UPH was to acquire Shri Krishnan’s stake in the applicant at 75% of the fair value of the shares. Based on an independent valuation, the value of the shares was arrived at Rs.4,58,00,000 i.e., Rs.11,45,000 per share. On March 22, 2013, the shares held by Shri Krishnan were acquired by UPH (39 shares @ Rs.1000 per share) and its nominee, Mr. Ashley Freedman, a non-resident individual (1 share @ Rs.1000 per share), constituting 19.5% and 0.5% of the paid up capital of the applicant respectively, at 75% of the fair value of the shares. No prior approval of the RBI was obtained by the resident transferor, Shri Krishnan, for effecting the above transfer of shares to non-resident entities at a price lower than fair value and the said transfer was not in conformity with the pricing guidelines of the Reserve Bank of India (RBI). Further, the applicant is engaged in the business of printing and publication of scientific and technical magazines which falls under 100% Government approval routefor the purpose of receiving foreign investment (paragraph 7.3 of Annex B to Notification No. FEMA 20/2000-RB). However, the prior approval of the FIPB was not obtained by the resident transferor, Shri Krishnan, for the transfer of shares of the applicant to non-resident entities which had resulted in increasing the shareholding of UPH in the applicant from 80% to 100%. The violation of pricing guidelines of the RBI as well as not obtaining prior FIPB approval for the transfer of shares as above is a contravention of Regulations 10(A)(b)(ii)(b) and 10(A)(b)(ii)(a) of Notification No. FEMA 20/2000-RB dated May 03, 2000 for which Shri Krishnan, the resident transferor of the shares, should have applied for compounding to RBI. However, no application for compounding has been made by Shri Krishnan.The applicant took on record the above transfer of its shares from a resident individual, i.e., Shri Krishnan, to the non-resident entities, i.e., UPH and Mr. Freedman in the absence of certified Form FC-TRS and without ensuring that the parties to the transaction had obtained prior FIPB approval where required and that the transaction was in conformity with the pricing guidelines of the RBI. This was in contravention of Regulation 4 of Notification No. FEMA 20/2000-RB dated May 03, 2000. The applicant subsequently obtained post facto approval of FIPB vide letter No. FC II 365(2001)/393(2001) – amend dated October 21, 2014 for transfer of its shares from Shri Krishnan to the two non-resident entities, UPH and Mr. Freedman. Further, post facto approval of the RBI was obtained by the applicant vide letter FED.FID.CO.No.12500/10.21.370/2015-16 dated May 02, 2016 for non-adherence to pricing guidelines of the RBI. | 45,800,000 | 110,000 | |
| 509 | Ceramtec India Innovative Ceramic Engineering Pvt Ltd | Dec/2016 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 1 months to 2 months (ii) 2 months to 2.9 years | (i) delay in reporting receipt of funds for issue of shares (ii) delay in filing of form FCGPR beyond the stipulated time period | The applicant, a resident company, was incorporated as Ceramtec India Innovative Ceramic Engineering Private Limited on May 28, 2013 under the Companies Act, 1956. The applicant is engaged in the business of manufacture and supply of technical ceramics. The applicant received inward remittances, for the issue of shares (transactions in which there was a delay in reporting) | (i) 5,85,90,000 (ii) 6,16,34,000 | 38,833 | |
| 510 | Eco Hotels India Private Limited | Dec/2016 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 2 months to 5 months (ii) 1 months to 11 months | (i) delay in reporting receipt of funds for issue of shares (ii) delay in filing of form FCGPR beyond the stipulated time period | The applicant, a resident company, was incorporated as Eco Hotels India Private Limited on March 18, 2008 under the Companies Act, 1956 (CIN: U55101KL2008PTC022097). The applicant is engaged in the business of creating eco-friendly premium value hotel brand that supports sustainable living without compromising on the standards of hospitality and causing harm to the planet. The applicant received inward remittances, for the issue of shares (transactions in which there was a delay in reporting). | (i) 66,50,000 (ii) 191,50,000 | 32,125 | |
| 511 | Jens Traves Pvt Ltd | Dec/2016 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 23 days to 3.8 years (ii) 1.3 years to 7.8 years | (i) delay in reporting receipt of funds for issue of shares (ii) delay in filing of form FCGPR beyond the stipulated time period | The applicant, a resident company, was incorporated as JENS Travels Private Limited on June 28, 2008 under the Companies Act, 1956. The applicant is engaged in carrying on the business of travel agents, tour operators, taxi service operators etc. The applicant received inward remittances, for the issue of shares | (i) 208,08,093 (ii) 208,08,093 | 117,000 | |
| 512 | Kapico Hospitality Pvt Ltd | Dec/2016 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 1.8 years to 8.5 years (ii) 2.5 years (iii) 1.3 years to 6.6 years | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares; (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank, and (iii) delay in allotment of shares to the nonresident investor without prior approval of Reserve Bank, | The applicant company was incorporated on August 08, 2005 under the provisions of the Companies Act, 1956 (Registration No. U55101TN2005PTC057126) and is engaged in Business of Hotel, Restaurant, Conference Center, Caravan Site, Cafe, Tavern, Boarding and IT Park. The applicant received foreign inward remittances from (i) Shri.Pradeep Kumar Handa, Kuwait, (ii) Shri.Tawhid Mohammad Taher Abdullah, U.A.E and (iii) M/s.Kapico Group Holding Co. KSCC, Kuwait towards subscription to equity shares | (i) 33,58,73,969 (ii) 136,06,450 (iii) 32,22,67,420 | 4,887,643 | |
| 513 | Pamusa Logistics Services Private Limited | Dec/2016 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 3 days to 24 days (ii) 2 months | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares; (ii) delay in submission of Form FCGPR on allotment of shares | The applicant company was incorporated on August 25, 2015 under the provisions of the Companies Act, 1956 (Registration No. U63011TZ2015PTC021702) and is engaged in Business of Motorised Road Freight Transport. The applicant received foreign inward remittances from (i) M/s Pamusa Ltd., Hong Kong and (ii) M/s Pamusa Logistics (Singapore) Pte Ltd. towards subscription to equity shares and reported the same to the Reserve Bank | (i) 142,21,348 (ii) 90,11,200 | 22,990 | |
| 514 | Cloudcherry Analytics Private Limited | Dec/2016 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 1 months to 7 months (ii) 5 days to 3 months (iii) 5 months 14 days | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares; (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank, and (iii) delay in refund of inward remittance | The applicant company was incorporated on February 07, 2014 under the provisions of the Companies Act, 1956 (Registration No. U72900TN2014PTC094906) and is engaged in Business of management consultants and solution providers in business analytics by developing and using information technology products and tools. The applicant received foreign inward remittances from (i) M/s. Cloudcherry Pte Ltd, Singapore, (ii) M/s. IDG Ventures India Fund II LLC, Mauritius, (iii) M/s. Kalpataru Ventures Pvt Ltd, Indonesia and (iv) M/s. Beroe Singapore Pte Ltd, Singapore towards subscription to equity shares and reported the same to the Reserve Bank | (i) 900,241 (ii) 177,04,577 (iii) 900,000 | 74,220 | |
| 515 | First Engineering Plastics India Private Ltd | Dec/2016 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 4 days to 2.4 years (ii) 4 days to 1.3 years (iii) 5 days to 2.2 years | (i) delay in reporting inflow of funds received from a person resident outside India for allotment of shares; (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank, (iii) delay in allotment of shares to the nonresident | The applicant company was incorporated on September 21, 2005 under the provisions of the Companies Act, 1956 (Registration No. U25201TN2005PTC057563) and is engaged in Business of Manufacture of other Plastics Products. The applicant received foreign inward remittances from M/s. First Engineering Ltd., Singapore towards subscription to equity shares and reported the same to the Reserve Bank | (i) 49,278,000 (ii) 508,305,100 (iii) 655,30,000 | 646,103 | |
| 516 | Secova E Services Private Limited | Dec/2016 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 7 days to 1 months (ii) 18y to 9.3 years | (i) Delay in reporting inflow of funds received from a person resident outside India for allotment of shares; and (ii) delay in submission of Form FCGPR on allotment of shares | The applicant company was incorporated on July 04, 2003 under the provisions of the Companies Act, 1956 (Registration No. U72200TN2003PTC051138) and is engaged in Business of Data processing, Hosting and related activities. The applicant received foreign inward remittances from 1. Shri Venkat Tadanki, USA 2. Shri Sanjeev Kurup, USA 3. Mr. Robert Parke, USA 4. Mr. Joel Carter, USA 5. M/s Persona Ventures Corporation, Mauritius and 6. M/s Baring Private Equity Fund II Ltd., Mauritius towards subscription to equity shares and reported the same to the Reserve Bank with a delay | (i) 38,06,22,231 (ii) 37,50,69,487 | 141,655 | |
| 517 | DSRK Holdings Chennai Private Limited | Dec/2016 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 7 months to 9 months (ii) 9 months (iii) 5.8 years (iv) 1 months9 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares; (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank, (iii) delay in refund of excess inward remittance received from the nonresident investor (iv) (iv) Issue of ineligible instruments | The applicant company was incorporated on May 29, 2006 under the provisions of the Companies Act, 1956 (Registration No. U45202TN2006PTC060010) and is engaged in Business of Construction of buildings carried out on own-account basis or on a fee or contract basis. The applicant received foreign inward remittances from M/s.Silva Limited, Mauritius towards subscription to equity shares and reported the same to the Reserve Bank. The company issued 500000 partly paid shares amounting to ₹ 120,00,00,000/- on 15.03.2007 against inward remittance of ₹ 5,06,91,559/-received on 01.03.2007. The company converted the partly paid shares to fully paid shares on 24.04.2007 after receipt of balance consideration of ₹ 114,93,08,441/- with delay of one month nine days. | (i) 120,13,69,532 (ii) 120,00,00,000 (iii) 13,69,532 (iv) 114,93,08,441 | 6,235,949 | |
| 518 | Dong-A India Automative Private Limited | Dec/2016 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 4 months (ii) 29 days to 2 months | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The applicant company was incorporated on May 30, 2002 under the provisions of the Companies Act, 1956 (Registration No. U35914TN2002PTC049010) and is engaged in Business of Manufacture of other Rubber Products n.e.c. The applicant received foreign inward remittances from M/s Dong-A Hwasung Company Ltd., South Korea towards subscription to equity shares and reported the same to the Reserve Bank | (i) 430,79,073 (ii) 27,18,64,320 | 95,000 | |
| 519 | Navarathna Housing Finance Limited | Dec/2016 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 13 days to 6 months (ii) 8 days (iii) 2 days | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares; (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank, (iii) delay in allotment of shares to the nonresident investor | The applicant company was incorporated on April 17, 2015 under the provisions of the Companies Act, 1956 (Registration No. U65922TN2015PLC100156) and is engaged in Business of granting other credit. The applicant received foreign inward remittances from (i) Shri Saravana Kumar Kandaswamy (ii) Smt Usha Muthuvelammal (iii) Chandramohan Dharmalingam (iv) Sundaram Kasiviswanathan towards subscription to equity shares and reported the same to the Reserve Bank | (i) 150,00,000 (ii) 55,00,000 (iii) 50,00,000 | 87,575 | |
| 520 | Nowfloats Technologies Pvt Ltd | Dec/2016 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 8 months (ii) 7 months to 11 months (iii) 3 months to 7 months | (i) neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India within 180 days of the receipt of the inward remittance; (ii) delay in reporting receipt of foreign inward remittances towards subscription to equity; (iii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares | The applicant is a resident company originally incorporated as a private limited company under the Companies Act, 1956 on 09.05.2012. The company is engaged in the business to provide software and mobile applications that provides real-time information to consumers in their locations to enable through software and mobile application a dynamic and direct communication channel between consumers and businesses through sharing of contextual information that floats in a local area at ‘now’ time etc. | (i) 2,541,160 (ii) 37,45,172 (iii) 87,43,990 | 38,514 | |
| 521 | Millard Filters India Pvt Ltd | Dec/2016 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 5 days to 2 months (ii) 7 days | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares towards subscription to equity to a person resident outside India | The applicant is a resident company incorporated as a private limited company under the Companies Act, 2013 on 07.09.2015. The company is engaged in the business to manufacture, import, export and distribution of filters, chemicals and other spare parts for automotive and industrial applications. | (i) 16,92,306 (ii) 111,410 | 20,000 | |
| 522 | Skyfi Education Labs Pvt Ltd | Dec/2016 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 2 months to 3 months (ii) 1 days to 4 months | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPR to the Reserve Bank | The applicant is a resident company incorporated on 10.01.2013 as a private limited company under Companies Act, 1956. The company is in the business of providing services in the field of education by providing hardware and software tools and equipment for education purposes including preparation and distribution of educational modules, educational material and to conduct practical workshops thereof | (i) 999,719 (ii) 22,45,511 | 21,000 | |
| 523 | Changyou.Com India Pvt. Ltd. | Dec/2016 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 10 months (ii)1 months to 8 months (iii) 1 months to 1.1 years | (i) Allotment of shares before th receipt of inward remittance (ii) delay in reporting receipt of foreign inward remittance towards subscription to equity (iii) delay in submission of Form FCGPR | The applicant company was incorporated on March 11, 2011 under the Companies Act, 1956 and is engaged in the business of distribution and operation of online games and any and all other conduct, activities or business. To carry on the business of provision of services related to the operation of online gaming including but not limited to development and supply of software, advising on software applications, acting as an agent for the provision of internet services, provision of internet access services and internet application services and any and all other conduct, activities or business. The applicant received foreign inward remittance from M/s Changyou.com Hong Kong Ltd., Hong Kong, towards equity / preference share capital and reported the same to the Reserve Bank | (i) 100,000 (ii) 170,00,000 (iii) 173,00,000 | 157,875 | |
| 524 | Polypeptide Laboratories Pvt Ltd | Dec/2016 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 3.3 years (ii) 16 days to 8.3 years (iii) 2 months to 4.4 years | (i) neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India within 180 days of the receipt of the inward remittance (ii) delay in reporting receipt of foreign inward remittance towards subscription to equity; (iii) delay in submission of Form FCGPR | The applicant company was incorporated on February 06, 2001 under the Companies Act, 1956 is engaged in the business of manufacturing, processing, marketing and development of pharmaceuticals, medicinal, chemical and related substances, preparations and articles. The applicant received foreign inward remittance from M/s Polypeptide Laboratories BV, Netherlands, towards equity / preference share capital and reported the same to the Reserve Bank | (i) 108,47,420 (ii) 40,70,76,910 (iii) 53,96,25,050 | 1,718,576 | |
| 525 | UGL Engineering Pvt. Ltd. | Dec/2016 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 2 months to 9 months (ii) 2 months to 7 months (iii) 1 months to 11 months | (i) neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India within 180 days of the receipt of the inward remittance (ii) delay in reporting receipt of foreign inward remittance towards subscription to equity; (iii) delay in submission of Form FCGPR | The applicant company was incorporated on July 24, 2013 under the Companies Act, 1956 and is engaged in the business to carry on an activity of providing engineering services, supply, project management and delivery, construction, maintenance and commissioning in the oil, gas, power, water, rail, transport systems and communication sectors. The applicant received foreign inward remittance from M/s UGL Engineering Pty Limited, Australia and M/s UGL Operations and Maintenance Pty Limited, Australia towards equity / preference share capital and reported the same to the Reserve Bank | (i) 296,22,624 (ii) 11,11,86,000 (iii) 922,05,590 | 348,398 | |
| 526 | Audax Protective Fabrics Pvt. Ltd. | Dec/2016 | FDI | FEMA 20/2000-RB | Delay in Reporting | 6 months to 9 months | delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company was incorporated on January 07, 2014 under the Companies Act, 1956 and is engaged in the business of manufacturers, dealers, importers, exporters, indenters, agents, traders on cash & carry wholesale basis, hirers, re-packers, buyers, sellers, distributors, suppliers, representative, brokers, wholesalers, stockiest, commission agents in all type of packaging materials, cover materials, waterproofing products, containers, poly-packaging, boxes, packings, packages, etc. The applicant received foreign inward remittance from M/s Avenex Coating Technologies Inc., Canada and Mr. Gary Shokar, Canada towards equity / preference share capital. | 74,977,990 | 110,000 | |
| 527 | AF Ferrari Secure Logitech Pvt. Ltd | Dec/2016 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 3 months to 5 months (ii) 26 y to 5 monthsd | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares ssue 2 delay in submission of form FCGPR for allotment of shares | The applicant company was incorporated under the Companies Act, 1956 on November 27, 2013 and allotted registration No. U63090DL2013PTC261068 by Registrar of Companies. The company is engaged in the business of transportation and carriage services. | (i) 163,90,000 (ii) 163,90,000 | 31,425 | |
| 528 | Statkraft India Private Limited | Dec/2016 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 1 months to 1.4 years (ii) 1 months to 2 years | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares ssue 2 delay in submission of form FCGPR for allotment of shares | The applicant company was incorporated under the Companies Act, 1956 on June 14, 2010 and allotted registration No. U40101DL2010FTC204050 by Registrar of Companies. The company is engaged in providing consultancy in designing, commissioning of hydro and wind power plants including all related civil work | (i) 18,17,49,762 (ii) 61,14,90,210 | 1,238,190 | |
| 529 | Vetrocer Ink Technology Private Limited | Dec/2016 | FDI | FEMA 20/2000-RB | Delay in Reporting | 1.2 years | delay in reporting of FCGPR form | The applicant company is engaged in manufacturing of chemicals and chemical products. | 15,136,160 | 72,500 | |
| 530 | Global Impressions Labels India Pvt. Ltd. | Jan/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 2 to 10 months (ii) 1 to 2 years | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank after issue of shares to a person resident outside India | The applicant, M/s. Global Impressions Labels India Pvt. Ltd., was incorporated on October 21, 2013, under the Companies Act, 1956. The company is engaged in the business of labelling. The applicant received funds towards share application money from one foreign investor viz. M/s Impressions Labels Lanka (Pvt) Ltd, Srilanka. | (i) 65,92,333 (ii) 65,92,320 | 36,400 | |
| 531 | Intalio Software India Pvt. Ltd | Jan/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting & issue of shares prior to receipt of inward remittance | (i) 1.5 to 2 years (ii) 2.8 years (iii) 8 to 12 ,months | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India (iii) issue of equity shares to the foreign investors prior to the receipt of inward remittances | The applicant, M/s. Intalio Software India Pvt. Ltd., was incorporated on June 03, 2013, under the Companies Act, 1956. The main business activity of the company is to carry on business as consultants in the field of computerization and development of systems & Applications software and to otherwise deal in systems design, software engineering, programming, software export, data processing, training, research, development of software packages and computerization. The applicant received funds towards share application money from two foreign investors viz. Intalio Pte Ltd, Singapore., and Intalio Inc, USA., | (i) 99,999 (ii) 99,999 (iii) 99,999 | 30,700 | |
| 532 | Gujarat Terce Laboratories Ltd. | Jan/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting & issue of ineliible instruments | (i) 158 days (ii) 5 years (iii) 1823 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India (iii) Issuance of ineligible instruments against inward remittance | The applicant company was incorporated on March 28, 1985, under the provisions of the Companies Act, 1956 and is engaged in carrying on business of manufacturing Allopathic Pharmaceutical Preparations. The applicant company has received an inflow amounting to Rs.11,11,196/- from foreign investors under automatic route and reported the same to Reserve Bank of India although the Company has received inflow amounting to ₹11,11,196/- the company has issued 3,00,000 warrants amounting to ₹ 48,00,000/- to the overseas investor. Further the difference amount of ₹ 36,90,056/- for these warrants was received from an Indian subsidiary of the investor. Incidentally, warrants were ineligible instrument under automatic route during the period in which said warrants issued by the Company.The matter was referred to Central Office and accordingly Central Office vide their letter FE.CO. FID/11427/10.02.004/2015-16 dated April 7, 2016 advised that since warrants have been converted into shares and have been already sold, the transaction may be regularised subject to compounding. | (i) 11,11,196 (ii) 48,00,000 (iii) 48,00,000 | 141,040 | |
| 533 | Daissun Highway Appurtenances Pvt. Ltd. | Jan/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in refund of share application money | 3047 days | (i) Delay in issue of shares/refund of share application money beyond 180 days | The applicant company was incorporated on September 29, 2006, under the provisions of the Companies Act, 1956 and is engaged in trade Commerce, import, export of all kinds of road marking materials, machineries, road signs boards, highway safety products, reflective pavement markers, solar highway products etc. The applicant company has received total two inflows amounting to 44,28,978/- from Foreign investors under automatic route and reported the same to Reserve Bank of India. although the inflow of 44,28,978/- was reported in time ,the shares were neither issued against consideration amount received nor it was refunded within the stipulated time. The company had clarified that they had some technical issue with Registrar of Companies due to which shares were not issued. Also, foreign investors had provided some technology and machinery and had informed the company to keep the amount as material advance. When they requested to get RBI permission to refund the amount from AD, they were informed that inward remittance was booked under wrong code of P0004 instead of P0006. Subsequently the AD changed inward remittance Code and obtained KYC of Foreign investors. While the company claims that the shares were not allotted as the overseas investors were claiming refund for the amount remitted, the same was not effected even after the period of 8.5 years from the date of receipt of inflow. As the discrepancy was noticed as a result of follow-up exercise conducted by the department, the company was advised to produce any documentary evidence in support of their claim. The Company in turn submitted copies of two letters dated April 09, 2016 received from overseas investors. The company claims to have submitted a letter dated DHAP/AJP dated July 21, 2009 addressed to the Reserve Bank of India requesting for refund of the said amount which was not received as per our records. On taking the matter further with the Director as to why follow up was not made with the RBI there was no reply from the company. Ultimately, the company was allowed to refund vide our letter FE.AH.FID/599/06.04.015A (D)/2016-17 dated October 20, 2016, subject to compounding. | 4,428,978 | 94,826 | |
| 534 | Walvoil Fluid Power India Pvt. Ltd. | Jan/2017 | ECB | FEMA 3/2000-RB | ECB - delay in payment of Fees for technical services due to Italian Parent co. thus amounting to ECB | (i) (ii) (iii) | delay in payment of dues by the applicant to its parent company, which amounted to borrowing in foreign exchange and Indian rupees from its parent company abroad, without meeting the stipulated conditions, | The applicant was incorporated in India, as Walvoil Fluid (India) Private Limited on July 26, 2005, under the Companies Act. 1956. The applicant is engaged in the business of designing, buying, importing, manufacturing, assembling, exporting, selling or leasing and dealing in all kinds of hydraulic valves, machine and machine tools etc. The applicant is a Wholly Owned Subsidiary (WOS) pf Walvoil S.p.A, Italy. Walvoil S.p.A, Italy, had deputed professionals/engineers/consultants to the applicant and had raised invoices for the same. Though the invoicing of certain remittances was in Indian rupees, the amount remitted for the same was in Euro. All the payments since remitted to the parent company, amounted to external commercial borrowings and were not in conformity with extant ECB guidelines, thereby contravening Regulation 3 read with Schedule I of Notification No. FEMA 3/2000-RB. The post facto approval was provided by RBI vide its letter dated June 02, 2016, subject to compounding | 25,377,475 | 233,685 | |
| 535 | Cactus Communications Private Limited | Jan/2017 | ODI | FEMA 120/RB-2004 | ODI - delay in filing | years 2008 to 2014 | delayed submission of APR based on the unaudited financials of the overseas subsidiary | The applicant Cactus Communications Private Limited, a company incorporated under the Companies Act, 1956 and having its registered office at 510, Shalimar Morya Park, Off. Link Road, Andheri (W), Mumbai – 400 053. The Indian Party (IP) has a Joint Venture (JV) in Japan namely Cactus Communications K.K. The APRs reported to us in respect of the JV were either not reported within the prescribed time or were reported based on the un-audited financials of the overseas subsidiary in contravention of Regulation 15 (iii)of Notification No. FEMA120/RB-2004. Since, in the instant case, the law of the host country does not mandatorily require auditing of the books of accounts of JV / WOS, the IP could have submitted the APRs based on the un-audited annual accounts of the JV / WOS provided the Statutory Auditors of the Indian Party certified that ‘The un-audited annual accounts of the JV / WOS reflect the true and fair picture of the affairs of the JV / WOS’ and that the un-audited annual accounts of the JV / WOS has been adopted and ratified by the Board of the Indian party in terms of Regulation 15 (v) of Notification No. FEMA120/RB-2004. The Indian Party has submitted that it is unable to get the books audited since the period is too old for them.The Board has adopted and ratified the un-audited annual accounts, however, the Indian Party is unable to provide the necessary Statutory Auditors Certificate. Thus the applicant had contravened the provisions of Regulation 15(iii) Notification No. FEMA120/RB-2004. | 8,913,902 | 60,000 | |
| 536 | Sotexpa Qualidis Textile India Pvt Ltd | Jan/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 1.3 years to 6.2 years (ii) 3 months to 6.2 years | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR on allotment of shares | The applicant company was incorporated on June 22, 2007 under the provisions of the Companies Act, 1956 (Registration No. U17111TZ2007FTC013821) and is engaged in Business of Manufacture of other made-up textile articles, except apparel n.e.c. The applicant received foreign inward remittances from M/s Sotexpa SA, France towards subscription to equity shares and reported the same to the Reserve Bank | 6,248,634 | 58,960 | |
| 537 | Bio Grow Sustrates India Private Limited | Jan/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 1 days to 17 days (ii) 1 months to 2 months | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The applicant company was incorporated on June 04, 2013 under the provisions of the Companies Act, 1956 (Registration No. U51909TZ2013PTC021358) and is engaged in Business of Manufacture of cordage or rope made of coir. The applicant received foreign inward remittances from (i) M/s. Vila Sarl, France, (ii) Mr. Vila Bruno, France, (iii) Mr. Thibaut Etienne Patrick De Saint Denis, France towards subscription to equity shares | (i) 2,54,47,964 (ii) 4,17,53,860 | 41,250 | |
| 538 | Sing Venture Foods Private Limited | Jan/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 2 days to 5 years (ii) 4 years (iii) 4 months | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank, (iii) delay in allotment of shares against the inward remittances, | The applicant company was incorporated on August 25, 2009 under the provisions of the Companies Act, 1956 (Registration No. U15400TN2009PTC072685) and is engaged in Business of Manufacture of other bakery products. The applicant received foreign inward remittances from M/s Halee Investment PTE Ltd., Singapore towards subscription to equity shares and reported the same to the Reserve Bank | (i) 62,37,299 (ii) 52,92,700 (iii) 90,39,400 | 130,358 | |
| 539 | Tapp Semiconductor India Private Limited | Jan/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | 2 days to 1 months | delay in reporting of inflow of funds received from a person resident outside | The applicant company was incorporated on November 08, 2006 under the provisions of the Companies Act, 1956 (Registration No.U73100TN2006PTC061454) and is engaged in the Business of manufacture of electronic components. The applicant received foreign inward remittances from (i) M/s.Tapp Investment Holding Mauritius Ltd., Mauritius and (ii) M/s Zoraba ltd., Cyprus towards subscription to equity shares | 189,855,900 | 36,680 | |
| 540 | Lotus Pond Hotels & Hospitality Pvt Ltd | Jan/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 1 years to 7.8 years (ii) 1 years to 3.7 years (iii) 1.5 years to 3.7 years | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank, and (iii) delay in allotment of shares to the nonresident | The applicant company was incorporated on December 18, 2007 under the provisions of the Companies Act, 1956 (Registration No. U55101TN2007PTC065773) and is engaged in Business of Hotels and Motels, inns, resorts providing short term lodging facilities including accommodation in house boats. The applicant received foreign inward remittances from M/s. Lotus Pond Holdings Pte. Ltd., Singapore towards subscription to equity shares | (i) 3,33,01,518 (ii) 3,33,01,500 (iii) 2,98,06,348 | 696,760 | |
| 541 | Novus Animal Nutrition (India) Private Limited | Jan/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 6 days to 7 months (ii) 1 months to 5.9 years | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares, (ii) delay in submission of Form FCGPR on allotment of shares | The applicant company was incorporated on January 25, 2010 under the provisions of the Companies Act, 1956 (Registration No. U51400TN2010FTC074368) and is engaged in Business of wholesale trade in straw, fodder & other animal/poultry feed. The applicant received foreign inward remittances from M/s. Novus International Pte. Ltd., Singapore towards subscription to equity shares | (i) 400,00,000 (ii) 400,00,000 | 91,060 | |
| 542 | Koyo Sms (India) Pvt Ltd | Jan/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting & allotment prior to receipt of full consideration | (i) 1 months to 2 months (ii) 6 years (iii) 6 years | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank, (iii) allotment of shares prior to receipt of full consideration | The applicant company was incorporated on August 27, 2008 under the provisions of the Companies Act, 1956 (Registration No. U72500TN2008PTC069046) and is engaged in Business of Repair of electronic and optical equipment. The applicant received foreign inward remittances from (i) Mr. Kenichi Kato, Singapore (ii) Mrs. Brina NG Lai Peng, Singapore (iii) M/s.Koyo SMS Corporation, Taiwan towards subscription to equity shares | (i) 2,69,00,000 (ii) 100,000 (iii) 100,000 | 77,750 | |
| 543 | RIR Enterprises – II | Jan/2017 | ODI | FEMA 120/RB-2004 | Round Tripping | (i) 2 years (ii) 6 years (iii) 6 years | (i) making total financial commitment in excess of the prescribed percentage of networth (ii) overseas direct investment in a nonbonafide activity (iii) delay in filing Form ODI. | The applicant was registered as a partnership firm on November 27, 2007, with the Registrar of Firms, Andhra Pradesh, vide Registration No. 3968. The partners were Mr. Tikkavarapu Venkatram Reddy, Mr.Tikkavarapu Vinayak Ravi Reddy and Mr. P K Iyer. The applicant is engaged in the business of making writing notebooks, including buying paper, cutting and binding. A Wholly Owned Subsidiary (WOS) of the applicant company, namely, RRI International Limited, was incorporated in Mauritius on December 05, 2007. The applicant issued corporate and personal guarantees to the extent of USD 300 and USD 38.7 million respectively, on behalf of its WOS, to ICICI Bank, Bahrain, to enable the WOS to raise a loan of USD 30 million. The financial commitment of the applicant went beyond the stipulated limit of 400% of the net worth as the net worth of the partnership at the relevant time was only Rs. 14,929/-. M/s RRI International Limited, Mauritius, invested the loan proceeds in Compulsorily Convertible Preference Shares of an Indian company, Sieger Solutions Limited (U72200TG2006PLC050541) housed at 36, Sarojini Devi Road, Secundrabad (i.e. the same address as the applicant) which was incorporated on July 6, 2006. Mr. Venkatram Reddy and Mr. Vinayak Ravi Reddy were the directors in this company alongwith others. Purportedly, the company was in the business of software publishing, advertisements etc. which activities are not eligible for raising external commercial borrowing under FEMA 1999 .The Applicant has failed to provide any documentation to prove that the said WOS engaged in any activity other than funneling the loan proceeds back into the country, that too into an Indian company who was ineligible to directly raise external commercial borrowing and for a purpose which would have been ab initio impermissible. The above activity of the WOS was not a bonafide activity, and hence a contravention of Regulation 6(2)(ii) of Notification No. FEMA 120/2004-RB. The guarantees were released on November 11, 2009, after the loan was repaid. The WOS was wound up with effect from February 11, 2014. Since the WOS has been wound up, the applicant has assumed the responsibility of the contraventions made by the WOS and has applied for compounding of the same under this application. | (i) 1,50,93,11,700 (ii) 1,17,00,00,000 (iii) 1,50,93,11,700 | 173,574,959 | |
| 544 | Ortlinghaus Drive Technology India Private Limited | Jan/2017 | ECB | FEMA 3/2000-RB | Breach of conditions | 3 years | (i) The applicant not being in the real sector was not eligible to borrow under automatic route. (ii) The end use is not permissible. (iii) The funds have been prepaid before completion of minimum maturity period. | The applicant company was incorporated under Companies Act 1956 on April 24, 2009. It is engaged in engineering and technical consultancy, after sales services and trading related to the construction of vehicles and production of machinery. It is not eligible to borrow funds under para 1(i) of Schedule 1 to FEMA 3/2000RB. The company had taken an External Commercial borrowing amounting to 70,000 euros from the Holding. company for the purpose of expansion of the company. However, the loan was utilised for end uses which are not permitted such as training of personnel, payment of salary etc. which is a contravention of Para 1(iv) of Schedule 1 to FEMA 3/2000RB ie. on permissible end use. The agreement was entered into on May 7, 2013 and the loan was taken in two instalments on July 12, 2013 and September 30, 2013. The period of loan was for 3 years but the loan was prepaid along with interest on March 31, 2016 without reporting to RBI, thereby contravening para 1(v) and 1(viii) of Schedule 1 of FEMA 3/2000RB. In terms of para 1 (i) of Schedule I to FEMA Notification No. FEMA.3/2000-RB read with Para 1 (A) (v) of Annex to AP (DIR Series) Circular No 5 dated August 1, 2005, ECB can be raised automatically only by companies in the real sector. | 5,715,500 | 88,000 | |
| 545 | CSM Software Private Limited | Jan/2017 | FEMA -Borrowing & Lending in Rupees Regulations 2000 | FEMA 4/2000-RB | breach of provisions | 2 to 11 years | raising loan from NonResident Indian (NRI) promoter shareholders through borrowings and without using the requisite public offer route by issue of nonconvertible debentures | The applicant was initially incorporated as Computational Structural Mechanics (India) Private Limited on August. 12, 1992 under the Companies Act, 1956. The name of the applicant was changed to CSM Software Private Limited on December 05, 2000. The applicant is engaged in the business of resale and providing technical support, consulting and staffing for mechanical engineering software. The applicant’s non-resident promoter shareholders are Dr. Ramakrishna Swami Narayanaswami and Mrs. Saraswathi Narayanaswami, each holding 42% stake in the applicant during the relevant period when the transactions took place. The applicant initially received share application money of USD 77,990 from Mrs. Saraswathi Narayanaswami on December 30, 2005 but shares remained unallotted against the said amount. With effect from April 1, 2011, the amount was treated as unsecured loan in the books of account of the applicant and recorded in Indian rupees. Further, in order to meet urgent operational requirements, the applicant received additional remittances from the two NRI promoters in August 2007 and between February 2011 and May, 2011which were reflected as rupee loans in the books of the applicant. Since 2005, the applicant has repaid a principal amount of only Rs.4,00,000 (repaid in January, 2008) in respect of the total amount borrowed from the promoters. In connection with the above loans, the promoters waived all interest accruing on the loans after March 31, 2011. The raising of loans by the applicant directly by way of borrowings from NRI promoters without using the requisite public offer route of issuance of non-convertible debentures is in contravention of the provisions of Regulation 5(1) of as Notification No. FEMA 4/2000-RB. The applicant repaid the outstanding loan amount of Rs.4,11,04,504/- (excluding the amount of Rs.4,00,000/- repaid earlier) to the NRI promoters on August 17, 2016 in terms of RBI permission granted vide letter FED.CO.ECBD.1309/03.02.107/2016-17 dated August 03, 2016. The above permission letter also allowed the applicant to make payment of outstanding amount of Rs.65,00,000 towards directors’ remuneration on non-repatriation basis by crediting the NRO accounts of the respective promoters. The NRI promoters subsequently transferred their entire shareholding in the applicant to Solize Corporation, Japan and Solize Engineering Corporation, Japan pursuant to approval of the Board in May, 2016. | 41,504,504 | 12,826,000 | |
| 546 | Phenomenix India Private Limited | Jan/2017 | ECB | FEMA 3/2000-RB | Breach of ECB Provisions | 5 to 6 years | (i) the borrower is not an eligible borrower in terms of extant ECB guidelines; (ii) foreign lender was not a recognized lender at the time of the drawdown dates; (iii) utilization of ECB proceeds to meet preincorporation / preoperational expenses is a nonpermissible end use; (iv) draw down of the ECB without obtaining Loan Registration Number (LRN) from the Reserve Bank of India (RBI). | The applicant was initially incorporated as PX Advanced Technology Solutions Private Limited on December 03, 2010 under the Companies Act, 1956. The name of the applicant was changed to Phenomenex India Private Limited on November 06, 2012. The applicant is engaged in the business of trading and was set up to act as the sole distributor in India for the products of Phenomenex Inc., USA, which provides separation solutions. The applicant is a wholly owned subsidiary of FFM Holdings Private Limited, Mauritius. The applicant obtained a loan amounting to Rs.1,48,13,754/- from its director, Shri Farajollah Farshad Mahjoor, USA, to meet its capital and pre-incorporation / pre-operational expenses. The loan amount was received on various dates in 2010 and 2011 and in some instances, the amounts were paid directly into the accounts of the vendors of the applicant. As the applicant is engaged in the trading business, it is not eligible to raise such a loan under the Automatic Route. Further, the lender was not a recognized lender as per extant ECB guidelines. The loan was utilized for a non- permissible end-use and drawdown of the loan took place without obtaining Loan Registration number (LRN) from the Reserve Bank of India (RBI).In response to an application made to the RBI for conversion of the debt amount to equity, the applicant was advised vide RBI letter HY.FE.FID/4440/14.06.702/2013-14 dated March 13, 2014 that issue of shares against pre-incorporation / pre-operational expenses is permissible under Government route only. The Foreign Investment Promotion Board (FIPB), however, did not grant approval to the applicant for the above transaction and advised the applicant to unwind the transaction and thereafter apply to RBI for compounding of the FEMA contraventions from the date of the transaction to the date of unwinding the transaction.The applicant received Reserve Bank of India (RBI) approval to reimburse the loan amount vide letter Ref. No. FED.CO.ECBD/1840/03.02.107/2016-17 dated August 18, 2016 and the loan repayment to the overseas lender was made on September 15, 2016. | 14,813,754 | 158,700 | |
| 547 | Sandhar Technologies Limited | Jan/2017 | ODI | FEMA 120/RB-2004 | breach of provisions | (i) 4 months (ii) 1 ½ months | (i) nonrepatriation of dues (receivables) within the stipulated period (ii) capitalization of unrealized amount of the dues without prior approval of the Reserve Bank, | The applicant M/s Sandhar Technologies Ltd. was incorporated on Oct 19, 1987 and is engaged in the business of manufacturing of Aluminium die casting components for automotive usage. It established a Wholly Owned Subsidiary, “Sandhar Technologies Barcelona S.L. Spain” on July 09, 2007 for acquiring industrial assets of a business unit of a Spanish company. Form ODI was submitted by the company and UIN NDWAZ20090757 was allotted by the Reserve Bank on December 11, 2009. The overseas WOS is a manufacturing company and manufactures Aluminium die casting components for automative usage. In order to support its operations financially for working capital requirements the applicant company, which was the parent company of Sandhar Technologies Barcelona, arranged for a Standby Letter of Credit (SBLC) issued through their Authorised Dealer, Citi Bank, New Delhi for which the bank had charged SBLC issuance charges. These charges, amounting to a total sum of Euro 142,490, were levied on the applicant company on account of the subsidiary company abroad, during the period April 30, 2012 to January 30, 2013The SBLC charges of Euro 142,490 was to be recovered by the applicant company by way of reimbursement of expenses on SLBC issuance charges paid to the financing bank in India, Citi Bank. Out of the total reimbursed amount of Euro 142,491, a sum of Euro70,000 was received by the applicant company on March 28, 2013 and the unrealized amount of Euro 72,491 was converted into equity share capital on June 14, 2013.However, out of the above amounts charged, the applicant company failed to receive/ capitalize the amount due within 60 days from the date of its falling due in respect of certain transactions. The SBLC issuance charges amounting to Euro 17,193 incurred by the applicant company on behalf of the WOS due on September 30, 2012 was realized on March 31, 2013. The company failed to receive the amount within 60 days from its falling due, the delay period being four months . Non-repatriation of dues from the WOS beyond 60 days is in contravention of Regulation 15(ii) of FEMA120/RB-2004 dated July 7, 2004 as amended from time to time. | 2,731,140 | 63,000 | |
| 548 | Ducom Instrument Pvt Ltd | Jan/2017 | ODI | FEMA 120/RB-2004 | breach of provisions | 3 to 4 years | remittances made by the Indian Party to its wholly owned subsidiary (WOS) without the submission of Form ODI and without obtaining UIN after making fist remittance | The applicant, Ducom Instruments Pvt. Ltd., a company incorporated under the Companies Act, 1956 and having its registered office at 477/A, 4th Phase, Peenya Industrial Area, Bangalore- 560 058. The applicant made their first remittance of EUR 35,000 towards equity on January 31, 2013 to their WOS in Netherlands and subsequently made two more remittances of EUR 16,104 and EUR 20,000 towards loan on April 29, 2013 and July 23, 2013 respectively without submission of Form ODI within the prescribed period and without obtaining UIN after making the first remittance | 5,186,268 | 81,750 | |
| 549 | CL Educate Limited | Jan/2017 | ODI | FEMA 120/RB-2004 | Breach of Provisions | 2.9 years | disinvestment of stake with outstanding dues without prior approval, delay in reporting the disinvestment and change in capital structure | The applicant CL Educate Limited, a company incorporated under the Companies Act, 1956 and having its registered office at A-41, Espire Buiding, Lower Ground Floor,Mohan Co-operative Industrial Area, Main Mathura Road, New Delhi – 110 044 . CL Educate Limited had, on December 04, 2013, disinvested its entire stake of 99.993% from their subsidiary in Singapore to one of its wholly owned subsidiary company in India namely Keystone Integrated Marketing Services Private Limited ("Kestone"). The Form ODI Part IV for the same was filed with the AD bank on March 11, 2013. The delay in reporting the disinvestment is in contravention of the provisions of Regulation 16 Notification No. FEMA120/RB-2004. Also, the AD has not reported the said change in capital structure within the prescribed period which is in contravention of the provisions of Regulation 13 Notification No. FEMA120/RB-2004.Further, at the time of disinvestment, loan of SGD 157,560 was outstanding, which was not transferred to Keystone Integrated Marketing Services Private Limited, which is in contravention of the provisions of Regulation 16(1)( iv) Notification No. FEMA120/RB-2004. Subsequently, the entire loan amount was transferred to Kestone on August 17, 2016. | 8,184,260 | 128,355 | |
| 550 | Yoshiaki Chemicals Company Pvt Ltd | Jan/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 2.9 years (ii) 2 to 3 years | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares; (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The applicant company was incorporated on February 09, 2007 under the provisions of the Companies Act, 1956 (Registration No. U51496TZ2007FTC013432) and is engaged in Business of Manufacture of chemical products or preparations of a kind used in textile, paper, leather or like industries. The applicant received foreign inward remittances from M/s. Supinvest Ltd, Mauritius towards subscription to equity shares | (i) 45,00,000 (ii) 45,00,000 | 56,640 | |
| 551 | C.H.Robinson Worldwide Freight India Pvt Ltd | Jan/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 2 months to 4 months (ii) 3 months to 3 years | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares, (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The applicant company was incorporated on November 27, 2006 under the provisions of the Companies Act, 1956 (Registration No. U60231TN2006PTC061597) and is engaged in Business of Cargo handling. The applicant received foreign inward remittances from M/s C H Robinson Worldwide Inc., USA towards subscription to equity shares | (i) 20,61,37,865 (ii) 24,39,79,500 | 422,075 | |
| 552 | Kovai Maruthi Papers and Boards Pvt Ltd. | Jan/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting & allotment of shares prior to receipt of consideration | (i) 28 days to 2.7 months (ii) 2 dy to 9 months (iii) 4.7 years | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank, and (iii) allotment of shares prior to receipt of inward remittance | The applicant company was incorporated on February 14, 1992 under the provisions of the Companies Act, 1956 (Registration No. U02102TZ1992PTC003643) and is engaged in Business of manufacturing, buying, selling, importing, exporting of all kinds and classes of paper, board, pulp including pulp board, kraft writing paper, etc.. The applicant received foreign inward remittances from M/s.International Consultants Inc, USA towards subscription to equity shares | (i) 54,33,384 (ii) 54,50,100 (iii) 24,641 | 47,221 | |
| 553 | Thumbay Hospital India Pvt Ltd | Jan/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 11 dy to 4 months (ii) 11 days to 5 months | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares towards subscription to equity to a person resident outside India | The applicant is a resident company incorporated as Private Limited Company under the Companies Act, 2013 on 03.11.2015. The company is engaged in the business of hospital and other related activities | (i) 20,20,54,700 (ii) 20,20,54,700 | 130,125 | |
| 554 | Botek India Pvt Ltd | Jan/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 1 months to 3 months (ii) 2 days to 1 months | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares towards subscription to equity to a person resident outside India | The applicant is a resident company incorporated on 22.04.2013 as a private limited company under Companies Act, 1956. The company is in the business of wholesale trade of other machinery, equipment and supplies etc. | (i) 6,18,61,000 (ii) 4,09,49,370 | 54,750 | |
| 555 | AMN Hotels Pvt Ltd | Jan/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 1 months to 6 years (ii) 2 months to 5 years | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares towards subscription to equity to a person resident outside India | The applicant is a resident company incorporated on January 09, 2002 under Companies Act, 1956 as a Private Ltd. Company. The main business activity is to acquire, construct, develop, improve, manage, administer, own and carry on the business in India and abroad of hotels, resorts, boarding and lodging houses, guest houses, holiday homes, inns, restaurants, café, bar, health resorts, health clubs and centers of art, culture and to render consultancy in the aforesaid business etc. | (i) 12,68,17,877 (ii) 10,42,69,800 | 124,750 | |
| 556 | R. A. Chem Pharma Limited | Jan/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting & delay in refund of share application money | (i) 3 years (ii) 2.5 years (iii) 6.9 years | (i) neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India, within 180 days of the receipt of the inward remittance (ii) delay in reporting receipt of foreign inward remittances (iii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares towards subscription to equity to a person resident outside India | The applicant is a resident company incorporated as a private limited company under the Companies Act, 1956 on 08.01.1996 under the name of M/s. Igor Dyespec Pvt Ltd. The company changed its name to M/s. Igor Pharmachem Pvt Ltd on 01.01.1999 subsequently changed on 21.11.2000 to M/s. Igor Pharmachem Ltd and again on 16.05.2005 to M/s. RA Chem Pharma Ltd. The company is engaged in the business of manufacturing of bulk drugs and formulation. | (i) 6,09,65,728 (ii) 6,00,00,000 (iii) 9,65,278 | 733,297 | |
| 557 | Solvosol Paints Pvt Ltd | Jan/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting & delay in refund of share application money | (i) 4 days (ii) 9 days (iii) 2 years | (i) neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India, within 180 days of the receipt of the inward remittance (ii) delay in reporting receipt of foreign inward remittances (iii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares towards subscription to equity to a person resident outside India | The applicant is a resident company incorporated as a private limited company under the Companies Act, 1956 on 08.11.1993. The company is engaged in business of manufacture and to deal in all kinds of paints, thinners, lacquers, printing inks, solvents, resins, varnishes, emulsions, fine organic and inorganic chemicals, dye stuff intermediates and allied chemicals, required in paint industry. | (i) 1,18,69,907 (ii) 43,56,430 (iii) 1,18,69,920 | 113,991 | |
| 558 | Naandi Education Support and Training Pvt Ltd | Jan/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 10 days to months (ii) 25 days to 3.3 years (iii) | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares towards subscription to equity to a person resident outside India | The applicant is a resident company incorporated as a private limited company under the Companies Act, 1956 on 30.09.2011. The company is engaged in education service (b) The applicant had received foreign inward remittances from overseas investors towards advance for subscription to equity shares | (i) 4,99,99,848 (ii) 4,99,99,848 | 211,000 | |
| 559 | Chemo India Formulation Pvt Ltd | Jan/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 1 months to 7 months (ii) 1 months to 7 months | (i) delay in reporting receipt of foreign inward remittances Isssue 2 delay in submission of Form FCGPR to the Reserve Bank after issue of shares towards subscription to equity to a person resident outside India | The applicant is a resident company incorporated as a private limited company under the Companies Act, 2013 on 13.08.2015. The company is engaged in the business to carry on the business of manufacturing, contract manufacturing, developing, preparing, producing, processing, refining, selling or otherwise dealing, importing, exporting, supplying, distributing, packing, re-packing, marketing, stockiest or otherwise dealing in all or any types, kinds, descriptions and varieties of active pharmaceutical ingredients, drugs and pharmaceuticals, medicines etc. The company is yet to start operations. (b) The applicant had received foreign inward remittances from overseas investors towards advance for subscription to equity shares | (i) 427,43,550 (ii) 693,11,550 | 102,440 | |
| 560 | Today's Healthcare India Pvt Ltd | Jan/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 2.3 years (ii) 1 months to 2 years | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares towards subscription to equity to a person resident outside India | The applicant is a resident company originally incorporated on February 20, 2009 as a private limited company under Companies Act, 1956. The company is engaged in the business of providing healthcare services. b. The applicant had received following foreign inward remittances from Foreign Companies towards advance for subscription to equity shares | (i) 51,99,086 (ii) 31,52,05,140 | 95,750 | |
| 561 | Kaane Visionary Projects Private Limited | Jan/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting & allotment of shares | (i) 1 years (ii) 3.3 years (iii) | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) non issue of equity instruments to the foreign investor, a person resident outside India within the stipulated 180 days | The applicant was incorporated under the Companies Act, 1956 on September 15th, 2011 with the main objective of developing infrastructure. The applicant received foreign inward remittances towards subscription to equity shares from foreign investor M/s Kaane American International Tobacco Co Ltd, UAE The applicant did not allot equity shares to the foreign investor against 9 inward remittances and instead requested for approval to refund the total amount to the foreign investor, M/s Kaane American Int. Tobacco Co Ltd, UAE vide letter dated November 18, 2014 forwarded by AD bank, received by us on December 3, 2014. The approval for refund of funds was granted vide our letter ref no. KOL.FED.FID. 2516/03.40.030/2014-15 dated February 9, 2015. The applicant refunded the amount Rs 18,59,99,250 in foreign currency (AED) to foreign investor on February 23, 2015 | (i) 14,74,99,400 (ii) 18,59,99,250 | 1,226,996 | |
| 562 | Kellogs India Pvt. Ltd. | Jan/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 22 days (ii) 2 monht to 1.6 years | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company was incorporated on October 10, 1990 as M/s Kellogg India Limited under the Companies Act, 1956. Further, the name was changed to M/s Kellogg India Private Limited on January 24, 1995. The company is engaged in (1) To manufacture, package and market “Ready to Eat Cereal Products and other Convenience Foods etc. The applicant received foreign inward remittance from M/s Kellogg Company, USA, towards equity / preference share capital | (i) 23,67,45,000 (ii) 53,39,63,645 | 420,000 | |
| 563 | Egon Software Pvt. Ltd. | Jan/2017 | FDI | FEMA 20/2000-RB | FDI - issue of shares without prior approval of the Government | (i) 4 years (ii) 1 months to 1.5 years (iii) 7 months to 1 years | (i) failure to obtain the specific and prior approval of the Government (FIPB) for issue of shares (ii) delay in reporting receipt of foreign inward remittance towards subscription to equity (iii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares | The applicant company was incorporated on August 06, 2007 under the Companies Act, 1956 and is engaged in the business in India or abroad (i) To develop, improve, design, analyse, license, implement, support, invent, import, export, buy, sell, distribute, market, operate, assemble, record, maintain, repair, service, convert, improve, procure, install, modify and or otherwise, to deal in all kinds of computer software, computer hardware,etc. The applicant received foreign inward remittance from M/s Egon Holdings S.A., Luxembourg towards equity / preference share capital The allotment of shares made on June 30, 2008 amounting to Rs.2,19,30,000/- was made against the remittance of Rs. 1,99,50,000/- showing a deficit in the inward remittance by Rs. 19,80,000/- which the company received on October 10, 2008 and May 04, 2009. Similarly, company issued 28,000 Equity Shares on February 06, 2009 amounting to Rs.4,20,000/ against the remittance received on May 04, 2009 and July 28, 2009. Post-Facto approval of Foreign Investment Promotion Board (FIPB) was received by the company on October 15, 2012. Thus company has contravened Para 3 of schedule 1 to notification No. FEMA 20/2000-RB dated May 03, 2000. | (i) 24,00,000 (ii) 2,23,51,319 (iii) 2,23,50,000 | 186,590 | |
| 564 | Network Solutions & Consulting Pvt Ltd | Jan/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting & refund of share application money | (i) 9 months to 3 years (ii) 14 days to 4 months+H131 (iii) 3.5 years | (i) neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India within 180 days of the receipt of the inward remittance (ii) delay in reporting receipt of foreign inward remittance towards subscription to equity (iii) delay in submission of Form FCPR | The applicant company was incorporated on September 28, 2012 under the Companies Act, 1956 and is engaged in the business to deliver IT system integration service, to provide staff resources and project managers to complete IT network implementations, to set up IT service helpdesks, to sell IT infrastructure and networking equipment and to do all such other things as are incidental to or as the directors think, may be conducive to the attainment of these object or any of them. The applicant received foreign inward remittance from M/s NSC Global Limited, United Kingdom, Mr. Julian Richard Laister, United Kingdom and Mr. Alexander Douglas Hooper, United Kingdom towards equity / preference share capital | (i) 5,10,88,100 (ii) 6,45,52,949 (iii) 100,000 | 256,414 | |
| 565 | Missmalini Publishing Private Ltd | Jan/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 20 days to 2 years (ii) 2.4 years to 4 years | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company was incorporated on February 13, 2011 under the Companies Act, 1956 as M/s MissMalini Publishing Private Limited. Thereafter, the name of the company was changed to M/s MissMalini Entertainment Private Limited on September 07, 2016 and is engaged in providing on-line interactive information pertaining to entertainment including but not limited to bollywood, music, cinema, theatres, city nightlife, fashion, clubs, brands, markets in India or elsewhere for rendering of entertainment related services etc. The applicant received foreign inward remittance from Mr. Sandeep Caberwal, USA, Mr. Murali V. Sundarlingam, Canada, Mr. Aayush Phumbhra, USA, Mr. Sakate Khaitan, UK, M/s Steven Lurie Investments LLC, USA and M/s Motive Science LLC, Canada, towards equity / preference share capital | 49,97,800 | 45,500 | |
| 566 | SS Analytics Solutions Private Limited | Jan/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Allotment | 6 months | delay in allotment of shares beyond the prescribed period of 180 days | The applicant company was incorporated on December 31, 2012 under the Companies Act, 1956 and allotted Registration No. U74220DL2012PTC246814 by Registrar of Companies. The applicant is engaged in the business of technical testing and analysis. b) The company had received a foreign inward remittance of Rs.1,11,03,889.50 on 02.05.2013 but it neither allotted shares nor refunded the amount within 180 days of receipt. The company approached Reserve Bank of India on 21.05.2014 seeking approval to allot shares against the share application money with a delay of 6 months and 22 days beyond the period of 180 days in contravention of Paragraph 8 of Schedule 1 to Notification No. FEMA 20/2000-RB. | 11,103,889 | 63,312 | |
| 567 | Durga Homes Private Limited | Jan/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Allotment | 1.6 years | delay in allotment of shares beyond the prescribed period of 180 days | The applicant company was incorporated on August 06, 2007 under the Companies Act, 1956. The company is engaged in development of residential properties and selling directly to buyers. b) The company had received a foreign inward remittance of Rs.2,20,28,848/- on 20.02.2008. The company allotted 846183 equity shares on 17.03.2010 with a delay of 1 year 6 months and 27 days beyond the prescribed period of 180 days, without seeking RBI approval, in contravention of Paragraph 8 of Schedule 1 to Notification No. FEMA 20/2000-RB dated May 3, 2000. | 22,028,848 | 133,876 | |
| 568 | Orient Craft Limited | Jan/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 1.7 years (ii) 1 years | delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in allotment | The applicant company was incorporated under the Companies Act, 1956 on February 28, 1978 and allotted registration No. U74899DL1978PLC008890 by Registrar of Companies. The company is engaged in the business of manufacturing and export of readymade garments. b) The applicant company had received 3 foreign inward remittances on March, 2007 for issue of equity shares and reported all the remittances on 05.12.2008 with a delay | (i) 26,40,73,080 (ii) 26,40,73,080 | 1,536,820 | |
| 569 | Ahoy Telecom Private Limited | Jan/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting & allotment of shares | (i) 1 months to 1 years (ii) 23 days to 10 months | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) Allotment after 180 days of inward remittance | The applicant company was incorporated under the Companies Act, 1956 on January 16, 2012 and allotted registration No. 64200DL2012PTC230064 by Registrar of Companies for the purpose of designer, developers, in all kind of telecommunication equipment, telecom software, operations and network support functions of the telecom, SMS, web, internet mobile application. The applicant company had received 6 foreign inward remittances amounting to Rs. 1,79,02,184.38 (as detailed hereunder) which were reported with a delay. | (i) 1,79,02,184 (ii) 1,14,03,802 | 98,954 | |
| 570 | Quality Life Enterprise (India) Private Limited | Jan/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | 2 years | delay in reporting of FCGPR form for allotment of shares | The applicant company was incorporated under the Companies Act, 1956 on July 14, 2010 and allotted registration No. U551001DL2010FTC205860 by the Registrar of Companies. The applicant company is engaged in the business and management consultancy for hotels.The applicant company had allotted 600000 equity shares amounting to Rs.6,00,00,000/- on November 26, 2012 and reported it to RBI in form FC-GPR on February 11, 2015 with a delay | 60,000,000 | 118,500 | |
| 571 | Square Dotcom Private Limited | Jan/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | 1 months to 4 months | delay in reporting of FCGPR form for allotment of shares | The applicant company was incorporated under the Companies Act, 1956 on August 12, 2014. The applicant company is engaged in the business of data processing software development and computer consultancy services including report writing.The applicant company had allotted equity shares amounting to Rs.12,30,51,750.00 on 3 occasions from December 10, 2014 to June 18, 2015 and reported them to RBI in form FC-GPR with a delay | 123,051,750 | 52,000 | |
| 572 | Opple Lighting India Private Limited (PDF file relates to square dotcom as above) | Jan/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | 2 months to 4 months | delay in reporting of FCGPR form for allotment of shares | The applicant company was incorporated under the Companies Act, 1956 on August 12, 2014. The applicant company is engaged in the business of data processing software development and computer consultancy services including report writing. The applicant company had allotted equity shares amounting to Rs.12,30,51,750.00 on 3 occasions from December 10, 2014 to June 18, 2015 and reported them to RBI in form FC-GPR with a delay | 123,051,750 | 147,500 | |
| 573 | Goan Heritage Leisure House Pvt Ltd | Jan/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 2 days to 2 years (ii) 3 months to 2 years (iii) 7 months to 7 years | (i) delay in reporting inward remittances (ii) delay in issue and allotment of shares (iii) delay in filing of form FCGPR beyond the stipulated time period | The applicant, a resident company, was incorporated as Goan Heritage Leisure House Private Limited on September 06, 2005 under the Companies Act, 1956. The applicant is engaged in the business of organizing, maintaining, operating and running heritage leisure houses, holiday homes, resorts, boarding and lodging houses to provide accommodation and food facilities to the tourists | (i) 1,34,34,129 (ii) 29,66,191 (iii) 2,01,46,53,376 | 153,042 | |
| 574 | Anand Swarup Oberoi | Jan/2017 | FDI | FEMA 20/2000-RB | Delay in reporting | 4 years | (i) deferment of payment of the amount of consideration in terms of para 10(A) (d) of Schedule 1 to FEMA 20 (ii) ii) delay in reporting the transfers in terms of para 10(A) (b)(i) of Schedule 1 to FEMA 20 /2000RB | The applicant, Shri Anand Swarup Oberoi, a citizen of India was an initial subscriber of M/s My Personal Health Records Express (India) Pvt. Ltd. and subscribed to 10 equity shares at a price of Rs.100/- each of the company at the time of incorporation i.e October 27th 2010. On January 31, 2012, these 10 equity shares were transferred to M/s Personal Health Record Express Inc., USA. The sale consideration was received on April 30, 2016, thereby contravening para 10(A) (d) of Schedule 1 to FEMA 20 / 2000-RB dated May 3, 2000. The applicant had also reported the transaction late thereby contravening para 10(A)(b)(i) of Schedule 1 to FEMA 20 /2000-RB dated 3rd May 2000 as amended from time to time. | 1,000 | 600 | |
| 575 | Viteos Capital Market Services Limited | Jan/2017 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 10 months to 13 years (ii) 1 months (iii) 9 years to 13 years | (i) delay in reporting receipt of funds for issue of shares (ii) delay in filing of form FCGPR beyond the stipulated time period, (iii) credit of inward remittance representing investment received from outside India into Exchange Earner’s Foreign Currency (EEFC) Account (iv) remitting in excess of prescribed limits to overseas branch office | The applicant, a resident company, was incorporated as Viteos Technologies Limited on January 17, 2002 under the Companies Act, 1956. The name of the applicant was changed to Viteos Capital Market Services Limited vide revised Certificate of Incorporation on March 31, 2005. The applicant is engaged in the business of IT enabled outsourcing services including back office, call centers, outsourcing bureau and other information technology services. The applicant received inward remittances, for the issue of shares | (i) 23,04,93,688 (ii) 6,11,64,264 (iii) 9,04,86,959 | 4,858,152 | |
| 576 | Sri Venkateswara Digital Home Entertainment Limited | Jan/2017 | FDI | FEMA 20/2000-RB | breach of provisions | 3 years | (i) the issuance of partly paid shares by the applicant to a resident investor having indirect foreign investment, without the prior approval of the Foreign Investment Promotion Board (FIPB), | The applicant was incorporated as Sri Venkateshwara Digital Home Entertainment Private Limited on May 04, 2010 under the Companies Act, 1956. The applicant is in the business of down linking and distributing channels to last mile cable operators through cables such as fibre optic etc. The applicant is a subsidiary of ACT Digital Home Entertainment Private Limited (ACTDHE), a resident Indian company, which is a subsidiary of Atria Convergence Technologies Private Limited (ACT). ACT, therefore, has indirect shareholding in the applicant. Meanwhile, Indium III, a foreign venture capital fund (FVCI) had investments in India Value Fund III A (IVF III A), an Indian domestic venture capital fund and IVF III A had invested in the shares of ACT. On account of the foreign investment received indirectly by ACT, all subsequent downstream investments made by ACT in the applicant and other companies became indirect foreign investments in those companiesACTDHE had subscribed to the partly paid shares of the applicant and made investments in tranches from January 20, 2010 to January 22, 2013. The call money was paid as and when the applicant was in need of funds. The shares of the applicant were fully paid up on payment of final call on March 04, 2016. Subscription to the partly paid shares of the applicant by an investor having indirect foreign investment was not permissible under automatic route and was in contravention of Paragraph 3 of Schedule I to Notification No. FEMA 20/2000-RB [in terms of FIPB letter No.40 (2015)/265(2013) dated June 23, 2015]. | 4,100,080 | 74,600 | |
| 577 | SR Cable TV Private Limited | Jan/2017 | FDI | FEMA 20/2000-RB | refund of share application money beyond 180 days | 6 years to 8 years | write off of share application money beyond the prescribed period of 180 days specified for allotment / refund of shares without the prior approval of the Reserve Bank of India (RBI) | The applicant was incorporated as SR Cable TV Private Limited on March 31, 2008. The applicant is in the business of providing Multi System Operator (MSO) engaged in retransmission of Cable TV signals within Indore city. Atria Convergence Technologies Private Limited (ACT) made remittance of Rs.7,44,00,000/- to the applicant by way of share application money for subscribing to the shares of the applicant. The amount was received in tranches during the period June 05, 2008 to January 05, 2010. However, the business did not succeed and had to be closed down in May, 2013. The entire share application money amount was written off on March 31, 2015 and there was no refund made to ACT. As a brief background to the above events, at the time of the investment in the applicant by ACT, Indium III, a foreign venture capital fund (FVCI) had made investments in India Value Fund III A (IVF III A), an Indian domestic venture capital fund and IVF III A had invested in the shares of ACT. On account of the foreign investment received indirectly by ACT, all subsequent downstream investments made by ACT in the applicant and other companies became indirect foreign investments in those companies [in terms of FIPB letter No.40 (2015)/265(2013) dated June 23, 2015]. As a consequence of the investment by ACT in the applicant being considered as indirect foreign investment, the applicant was required to obtain the prior approval of the RBI for write off of the investment amount as the applicantdid not issue shares / refund the amount within the prescribed period of 180 days from the date of receipt of the investment. Failure to obtain RBI approval prior to the write off of share application money as above is a contravention of Paragraph 8 of Schedule I to Notification No. FEMA 20/2000-RB. | 74,400,000 | 1,029,000 | |
| 578 | I B Communications Network Private Limited | Jan/2017 | FDI | FEMA 20/2000-RB | FIPB Approval not obtained | 3 years | issuance of partly paid shares by the applicant to a resident investor having indirect foreign investment, without the prior approval of the Foreign Investment Promotion Board (FIPB) | The applicant was incorporated as I.B. Communications Network Private Limited on July 02, 2010 under the Companies Act, 1956. The applicant is in the business of providing Local Cable Operator services and is engaged in retransmission of Cable TV signals. The shares of the applicant are held to the extent of 49% by ACT Digital Home Entertainment Private Limited (ACTDHE), a resident Indian company, which is a subsidiary of Atria Convergence Technologies Private Limited (ACT). ACT, therefore, has indirect shareholding in the applicant. Meanwhile, Indium III, a foreign venture capital fund (FVCI) had investments in India Value Fund III A (IVF III A), an Indian domestic venture capital fund and IVF III A had invested in the shares of ACT. On account of the foreign investment received indirectly by ACT, all subsequent downstream investments made by ACT in the applicant and other companies became indirect foreign investments in those companies [in terms of FIPB letter No.40 (2015)/265(2013) dated June 23, 2015]. ACTDHE had subscribed to the partly paid shares of the applicant and made investments in tranches from June 11, 2010 to December 14, 2011. The call money was paid as and when the applicant was in need of funds. The shares of the applicant were fully paid up on payment of final call on March 04, 2016. Subscription to the partly paid shares of the applicant by an investor having indirect foreign investment was not permissible under automatic route and was in contravention of Paragraph 3 of Schedule I to Notification No. FEMA 20/2000-RB | 16,242,304 | 132,000 | |
| 579 | RIR Enterprises – I | Jan/2017 | FDI | FEMA 20/2000-RB | Breach of provisions | 8 years | (i) pledging of Compulsorily Convertible Preference Shares by overseas WOS of the applicant to overseas lender, without the prior permission of Reserve Bank of India (ii) transferring the shares by the WOS of the applicant to an Indian company without involving a registered broker | The applicant has applied for compounding of contraventions of Regulation 3 and Regulation 9 read with Regulation 10 of Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 notified vide Notification No. FEMA 20/2000-RB dated May 3, 2000 as amended from time to time (hereinafter referred to as Notification No. FEMA 20/2000-RB). However, on scrutiny it has been observed that the second contravention applied for did-not exist. Thus, the application is being considered for the contravention of Regulation 3 of Notification No. FEMA 20/2000-RB dated May 3, 2000 as amended from time to time. The applicant was registered as a partnership firm on November 27, 2007, with the Registrar of Firms, Andhra Pradesh, vide Registration No. 3968. The partners were Mr. Tikkavarapu Venkatram Reddy, Mr.Tikkavarapu Vinayak Ravi Reddy and Mr. P K Iyer. The applicant is engaged in the business of making writing notebooks, including buying paper, cutting and binding. A Wholly Owned Subsidiary (WOS) of the applicant company, namely, RRI International Limited, was incorporated in Mauritius on December 05, 2007.The applicant issued corporate and personal guarantees to the extent of USD 300 and USD 38.7 million respectively, on behalf of its WOS, to ICICI Bank, Bahrain, to enable the WOS to raise a loan of USD 30 million. The WOS of the applicant invested the loan proceeds in Compulsorily Convertible Preference Shares of an Indian company, Sieger Solutions Limited (U72200TG2006PLC050541) housed at 36, Sarojini Devi Road, Secundrabad (i.e. the same address as the applicant) which was incorporated on July 6, 2006. Mr. Venkatram Reddy and Mr. Vinayak Ravi Reddy were the directors in this company alongwith others. Purportedly, the company was in the business of software publishing, advertisements etc. which activities are not eligible for raising external commercial borrowing under FEMA 1999. M/s RRI Mauritiuspledged the CCPS as a further collateral with ICICI Bank Bahrain, without prior permission of RBI, in contravention of Regulation 3 of Notification No. FEMA 20/2000-RB dated May 3, 2000 as amended from time to time. These shares were then transferred to Deccan Chronicle Holdings Limited, with an intent to unwind, and due to the group’s internal restructuring. The contravention pertains to the WOS of the applicant. However, since the said WOS has been unwound and closed down on February 11, 2014, hence the application for compounding has been made by the parent company and is being considered accordingly. | 1,170,000,000 | 8,825,000 | |
| 580 | Bitzer SE | Feb/2017 | Establishment of BO/LO/PO in India | FEMA 22/2000-RB | operation beyond validity period, transfer of assets and surplus funds to subsidiary without RBI Approval | 9 years | (i) operating beyond the validity period without taking prior approval of the Reserve Bank (ii) Annual Activity Certificate not representing a factual position of the operations (iii) transferring the assets of the Liaison Office to subsidiary without obtaining prior permission of the Reserve Bank (iv) transferring the surplus funds of the Liaison Office to subsidiary without obtaining prior permission of the Reserve Bank | a) The applicant company, M/s Bitzer SE, is based in Germany. b) The applicant was given RBI permission for establishment of liaison office at Mumbai on November 03, 1999. Subsequent extensions of the permission to continue operating the Liaison Office in India were granted by the Reserve Bank up to November 30, 2008. However, the Liaison Office continued to operate without valid permission after expiry of its renewal in November 2008, thereby contravening Regulation 5(i) of FEMA Notification No.22 dated May 03, 2000, as amended from time to time, which stipulates that a person resident outside India desiring to establish a branch or liaison office in India shall apply to the Reserve Bank, in form FNC 1. c) The applicant incorporated Bitzer India Private Limited (BIPL) on July 15, 2007 as its wholly-owned subsidiary. Thereafter, the applicant transferred the assets with book value of Rs.25,04,274/- of the Liaison Office to Bitzer India Private Limited, wholly owned subsidiary without prior permission of the Reserve Bank, d) The applicant also transferred surplus funds amounting to Rs.33,84,802.85/- of the Liaison Office to Bitzer India Private Limited, wholly owned subsidiary, in contravention of Para iv and Para ix of Annexure to our approval letter for establishment of liaison office in India dated November 03, 1999. e) The Annual Activity Certificate submitted by the Liaison Office for the year ended March 31, 2008 did not represent a factual position of LO operations, | 5,889,076 | 74,200 | |
| 581 | Kirtilal M. Shah | Feb/2017 | ECB | FEMA 3/2000-RB | Delay in payment for imports | 1 years | making delayed payment to foreign suppliers in connection with import of rough diamonds | The applicant was set up as a partnership firm under a Deed of Partnership dated April 03, 2008. The applicant is engaged in the business of dealing in precious stones, precious metals, bullion, jewellery, etc. The applicant imported rough diamonds from Sundiam Dmcc Dubai amounting to USD 15,42,888.39 (Rs.9,84,94,712.44/-). The applicant was unable to make the payment for the above imports within the prescribed time limit of six months which is in contravention of Regulation 5(3) of Notification No. FEMA 3/2000-RB read with Paragraph A.12 of A.P (DIR Series) Circular No.9 dated August 24, 2000.The applicant received Reserve Bank of India (RBI) approval for remittance of USD 15,42,888.39 vide letter FED.MRO.CAD.IMP/1045/03.01.04/2015-16 dated August 11, 2016 and the said amount was remitted to the overseas entity on various dates in September, 2016 | 98,494,712 | 542,500 | |
| 582 | TVS Logistics Services Limited | Feb/2017 | ODI | FEMA 120/RB-2004 | ODI - Delay in Reporting | (i) 11 months (ii) 5 months (iii) 4 months | (i) delay in reporting issuance of Corporate Guarantee in Form ODI (ii) nonreporting of setting up of stepdown subsidiaries within the stipulated time period | The applicant was incorporated as TVS Logistics Services Limited on November 16, 2004. The applicant is engaged in the business of providing logistics and allied services. A Wholly Owned Subsidiary (WOS) of the applicant company, namely, TVS-Asianics Supply Chain Solutions Limited (TVS-Asianics), Singapore, was incorporated in Singapore on October 09, 2014. TVS-Asianics further incorporated a step-down subsidiary in Australia, namely, TVS Asianics Australia Holdings Pty. Ltd. (TVS Australia), on July 15, 2015. The applicant reported the set-up of this step-down subsidiary on January 19, 2016, with a delay beyond the stipulated time period of 30 days, thus contravening Regulation 13 of Notification No. FEMA 120/2004-RB. TVS-Australia then acquired TIF Holdings Pty. Ltd., Australia, to the extent of 55% shareholding, on August 7, 2015. The acquisition was reported within the stipulated time period. However, the fact that the acquisition was done through TVS-Australia was erroneously not disclosed at the time of reporting. The applicant then correctly reported the set-up of this step-down subsidiary on January 19, 2016, which was with a delay beyond the stipulated time period, thus contravening Regulation 13 of Notification No. FEMA 120/2004-RB. The applicant, further, issued a corporate guarantee to TVS Asianics, Singapore, for an amount of USD 8.055 Mio, on September 29, 2015. The reporting of the issuance of this corporate guarantee in Form ODI was done with a delay beyond the stipulated time period, thus contravening Regulation 6(2)(vi) of Notification No. FEMA 120/2004-RB. The reporting of the corporate guarantee was taken on record on October 25, 2016. | (i) 53,43,11,510 (ii) 23,11,48,808 (iii) 63,96,29,188 | 977,156 | |
| 583 | Britomatics India Private Limited | Feb/2017 | ODI | FEMA 120/RB-2004 | non receipt of share certificat share application money within stipulated time | 1 years | (i) nonreceipt of Share Certificate (ii) repatriation of share application funds beyond stipulated period of six months | The applicant, M/s Britomatics (India) Pvt. Ltd. was incorporated as a private limited company on November 14, 1995, and is engaged in the business of trading of printing machinery. The applicant company remitted USD 50,000 to its wholly owned subsidiary ‘Creative Global Pte Ltd.’, Singapore on January 22, 2015 for investing in equity capital of the company. Due to some administrative/ technical problems the WOS could not be formed and no shares were allotted. The share application money was refunded but the same was repatriated to India on March 23, 2016 i.e beyond stipulated period of six months, thus contravening Regulation 15 (i) of FEMA 120/ 2004-RB dated July 7, 2004. UIN no. NDWAZ20150239 was allotted for the WOS by RBI vide letter dated April 30, 2015. The transaction was regularized on August 19, 2016. | 31,18,500 | 65,000 | |
| 584 | Tano India Advisors Private Limited | Feb/2017 | ECB | FEMA 3/2000-RB | Advance money taken in foreign currency without RBI Approval | september 2007 to October 2016 | Indian Co borrowed advance money in foerign currency from US Co. to set up Indian operations without compying with FEMA regulations | M/s Tano India Advisors Pvt. Ltd. (TIA) is a financial advisory company incorporated on September 21, 2005. It is a sub-advisor to M/s Tano Mauritius Investments (TMI), a Mauritius-based advisory company. TMI is owned by M/s Tano Capital LLC (Tano Capital), a California based regulated entity. Tano Capital intended to start a real estate advisory business for opportunities in India, for which purpose it set-up a SPV, M/s Tano Streit Real Estate Investments LLC (Tano Streit) in Delaware, USA, in partnership with Streit India LLC, a USA based entity owned by M/s Divco West vide agreement dated June 29, 2007.In September 2007, Tano Streit advanced USD 2,50,000 to TIA, to enable it to set up a team in India that could offer advisory services. An amount of USD 250000/- (Rs.9,927,500/-) was received in the bank account maintained with Standard Chartered Bank on September 27, 2007. Subsequently, Tano Capital LLC and Divco West decided to dissolve Tano Streit on a mutual consent basis and a certificate of cancellation dated February 21, 2008 was issued by the State of Delaware. In terms of the dissolution, the advance was moved to the books of Tano Capital, where they continued to show it as a receivable. Tano Capital decided to explore setting up of a Real Estate Fund on its own and hence, retained the advance of USD 250,000, given to TIA. However, unable to start the Fund, it was decided in 2014 to not pursue the initiative further, and permission to refund the advance was sought from the Bank. The Foreign Exchange Department (External Payments Division) vide letter FE.CO.EPD/9132/21.52.007/2015-16 dated February 11, 2016 granted permission for remitting USD 2,50,000 advance to Tano Capital USA subject to the applicant applying for compounding under Regulation 3 of FEMA 3/2000RB. The company applied for compounding on March 22, 2016. It was noted that the advance had been received from M/s Tano Streit which had since been dissolved. The applicant was proposing to remit the amount to Tano Capital only without any consent of the other co-owner of Tano Streit i.e. M/s Divco West. Further, the reasons for seeking permission to refund the advance after eight years were not sufficiently clear. The compounding application was returned and the matter was referred to the Directorate of Enforcement (DoE) for further investigation. Pursuant to the return of the Compounding Application, the company Capital USA subject to the applicant applying for compounding under Regulation 3 of FEMA 3/2000RB. The company applied for compounding on March 22, 2016. It was noted that the advance had been received from M/s Tano Streit which had since been dissolved. The applicant was proposing to remit the amount to Tano Capital only without any consent of the other co-owner of Tano Streit i.e. M/s Divco West. Further, the reasons for seeking permission to refund the advance after eight years were not sufficiently clear. The compounding application was returned and the matter was referred to the Directorate of Enforcement (DoE) for further investigation. Pursuant to the return of the Compounding Application, the company again approached the Bank for compounding. TIA was advised to get (a) a notarized letter from Tano Capital confirming the advance to TIA was properly transferred to its books of account in terms of dissolution agreement with its partner in Tano Streit; (b) a letter from M/s Divco West that no dues were receivable from TIA and they had no objection in TIA remitting the advance of USD 250000 to Tano Capital; (c) a specific approval from the Foreign Exchange Department (External Payments Division) for refund of the amount to Tano Capital instead of Tano Streit as the latter no longer existed. The applicant submitted additional documents alongwith a letter dated September 16, 2016 from M/s Divco West (the other co-owner of Tano Streit) to the effect that the advance that the amount may be paid to Tano Capital. The applicant also submitted a letter FE.CO.EPD/3457/ 21.52.001/2016-17 dated September 30, 2016 issued by the Foreign Exchange Department (External Payments Division) granting specific permission for remitting USD 2,50,000 advance to Tano Capital LLC which was received earlier from M/s Tano Streit LLC subject to the applicant applying for compounding under Reg 3 of FEMA 3/2000RB. The applicant has filed the Compounding Application thereafter. The applicant has also intimated vide letter dated October 21, 2016 that the amount was remitted to Tano Capital LLC on October 19, 2016. | 9,927,500 | 124,450 | |
| 585 | P S Atree And Co. Private limited | Feb/2017 | ODI | FEMA 120/RB-2004 | Making additional investments through another AD | 7 months to 9 months | routing of overseas investments made in a Wholly Owned Subsidiary (WOS) through AD other than the designated AD | The relevant facts of the case are as follows: The applicant was incorporated as P.S. Atree and Company Pvt. Ltd. on April 21, 1998 under the Companies Act, 1956. The applicant is engaged in carrying on the business. of forwarders and carriers of goods of all description, freight brokers, loading brokers etc. The applicant, along with M/s Ambience Hospitality Management Pvt. Ltd., set-up a WOS, namely, The Palms Resort Ltd. in UK. The applicant and M/s Ambience Hospitality Management Ltd., each have 50% stake in the WOS. M/s Ambience Hospitality Management Pvt. Ltd. remitted GBP 2,25,000 on January 29, 2016, through the Axis Bank. A Unique Identification Number (UIN) was allotted by RBI for investment into the said WOS.According to Regulation 6(2)(v) of Notification No. FEMA 120/2004-RB, all the transactions related to investment in one WOS have to be routed through the same branch of the same bank. As the first remittance had already been routed through Axis Bank, all other transactions related to investment in the said WOS were required to be routed through the same bank. However, the applicant erroneously made further remittances through an Authorized Dealer (AD), other than the designated AD for investments | 22,417,150 | 162,086 | |
| 586 | Kushank Goel | Feb/2017 | ODI | FEMA 120/RB-2004 | Early disinvestment | NA | disinvestment of equity in an overseas joint venture company within one year | The applicant, Kushank Goel, is a resident individual, residing at C-476 Vikaspuri, New Delhi. The individual applicant made an investment of HKD 387,500 equivalent to USD 50,000 (INR 30,63,690) in equity shares of M/s KLG Enterprises Ltd, Hong Kong on October 8, 2014 under the Liberalised Remittance Scheme, acquiring 33.33% stake in the JV. KLG Enterprises Ltd. is an overseas Joint Venture company incorporated in Hongkong on July 14, 2014. The applicant remitted USD 50,000 on Oct. 8, 2014 to the overseas entity through Authorised Dealer bank, Vijaya Bank. Share Certificates towards the investment were received on November 11, 2014. The new JV company was to take up trading business but due to some reasons, the business could not take off. Hence the applicant divested from the overseas Joint Venture by selling his shares to a local resident, who was also their foreign partner in the JV, who acquired the shares at cost (no profit/ loss). The proceeds of the disinvestment was repatriated on March 31, 2015, before the overseas concern could complete one year of operation from the date of investment, The above transaction relating to disinvestment was reported by the applicant in Part IV of Form ODI through the Authorised Dealer, Vijaya Bank, New Delhi and the transaction was regularized on January 18, 2016. The disinvestment has been taken on record. Unique Identification Number (UIN) NDJRN20160135 was allotted by RBI to the overseas Joint Venture, vide letter dated February 10, 2016. | 3,063,690 | 66,850 | |
| 587 | Simmi Goel | Feb/2017 | ODI | FEMA 120/RB-2004 | Early disinvestment | NA | disinvestment of equity in an overseas joint venture company within one year, | The applicant, Simmi Goel, is a resident individual, residing at C-476 Vikaspuri, New Delhi. The individual applicant made an investment of HKD 387,500 equivalent to USD 50,000 (INR 30,63,690) in equity shares of M/s KLG Enterprises Ltd, Hong Kong on October 8, 2014 under the Liberalised Remittance Scheme, acquiring 33.33% stake in the Joint Venture. KLG Enterprises Ltd. is an overseas Joint Venture company incorporated in Hongkong on July 14, 2014. The applicant remitted USD 50,000 on Oct. 8, 2014 to the overseas entity through Authorised Dealer bank, Vijaya Bank. Share Certificates towards the investment were received on November 11, 2014. The new JV company was to take up trading business but due to some reasons, the business could not take off. Hence the applicant divested from the overseas Joint Venture by selling her shares to a local resident, who was also their foreign partner in the JV, who acquired the shares at cost (no profit/ loss). The proceeds of the disinvestment was repatriated on March 31, 2015, before the overseas concern could complete one year of operation from the date of investment, The above transaction relating to disinvestment was reported by the applicant in Part IV of Form ODI through the Authorised Dealer, Vijaya Bank, New Delhi and the transaction was regularized on January 18, 2016. The disinvestment has been taken on record. Unique Identification Number (UIN) NDJRN20160135 was allotted by RBI to the overseas Joint Venture, vide letter dated February 10, 2016. | 3,063,690 | 66,850 | |
| 588 | Ranjana Goel | Feb/2017 | ODI | FEMA 120/RB-2004 | Early disinvestment | NA | disinvestment of equity in an overseas joint venture company within one year | The applicant, Ranjana Goel, is a resident individual, residing at C-476 Vikaspuri, New Delhi. The individual applicant made an investment of HKD 387,500 equivalent to USD 50,000 (INR 30,63,690) in equity shares of M/s KLG Enterprises Ltd, Hong Kong on October 8, 2014 under the Liberalised Remittance Scheme, acquiring 33.33% stake in the JV. KLG Enterprises Ltd. is an overseas Joint Venture company incorporated in Hongkong on July 14, 2014. The applicant remitted USD 50,000 on Oct. 8, 2014 to the overseas entity through Authorised Dealer bank, Vijaya Bank. Share Certificates towards the investment were received on November 11, 2014.The new JV company was to take up trading business but due to some reasons, the business could not take off. Hence the applicant divested from the overseas Joint Venture by selling her shares to a local resident, who was also their foreign partner in the JV, who acquired the shares at cost (no profit/ loss). The proceeds of the disinvestment was repatriated on March 31, 2015, before the overseas concern could complete one year of operation from the date of investment, which was a contravention of Regulation 16 (1) (v) of FEMA 120 /RB-2004.The above transaction relating to disinvestment was reported by the applicant in Part IV of Form ODI through the Authorised Dealer, Vijaya Bank, New Delhi and the transaction was regularized on January 18, 2016. The disinvestment has been taken on record. Unique Identification Number (UIN) NDJRN20160135 was allotted by RBI to the overseas Joint Venture, vide letter dated February 10, 2016. | 3,063,690 | 66,850 | |
| 589 | Priyankar P Sheth | Feb/2017 | ODI | FEMA 120/RB-2004 | ODI - Delay in Reporting | 2.6 years | nonsubmission of Form ODI within the stipulated time | The applicant, a Resident Indian, invested overseas, in a wholly owned subsidiary (WOS) M/s Dharm Diamonds on December 09, 2013. The investment was made through the remittances under the automatic route of Liberalized Remittance Scheme (LRS) Overseas Direct Investment by resident individuals was permitted vide amendment Notification No. FEMA.263/RB-2013 dated March 5, 2013 (effective from August 5, 2013 i.e. date of publication in official Gazette) and subject to certain criteria being fulfilled | 4,656,835 | 77,945 | |
| 590 | Chirag Sheth | Feb/2017 | ODI | FEMA 120/RB-2004 | ODI - Delay in Reporting | 2.6 years | nonsubmission of Form ODI within the stipulated time | The applicant, a Resident Indian, invested overseas, in a wholly owned subsidiary (WOS) M/s Dharm Diamonds on October 22, 2013. The investment was made through the remittances under the automatic route of Liberalized Remittance Scheme (LRS). Overseas Direct Investment by resident individuals was permitted vide amendment Notification No. FEMA.263/RB-2013 dated March 5, 2013 (effective from August 5, 2013 i.e. date of publication in official Gazette) and subject to certain criteria being fulfilled. These criteria were detailed in Schedule V inserted in the FEMA 120/2004-RB vide the abovementioned notification | 4,627,535 | 77,765 | |
| 591 | Plus Buidling Systems Private Limited | Feb/2017 | FEMA -Borrowing & Lending in Rupees Regulations 2000 | FEMA 4/2000-RB | Loan Taken from NRI without issue of non - convertible debentures by way of public offer | 3 years to 5 years | raising money from NRI without using the requisite public offer route of issuance of Nonconvertible debentures (NCDs) | The applicant was incorporated as a private limited company, on June 21, 2011. The applicant is engaged in carrying out business as manufacturers, refiners, dealers, importers, exporters etc. for application in all kinds of construction and building chemicals. The applicant raised unsecured loan totaling INR 2,17,91,493, from NRI (foreign equity holder), without requisite public offer route of issuance of NCD The above amounted to contravention of the provisions of Regulation 5(1)(i) of Notification No. FEMA 4/2000-RB. The applicant was advised to unwind the transactions, whereby the entire loan amount was remitted on October 28, 2016. | 21,791,493 | 211,566 | |
| 592 | Growrite Substrates India Pvt Ltd | Feb/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting & issue of shares prior to receipt of inward remittance | (i) 1 days to 5 months (ii) 1 days to 4 months (iii) 4.7 years | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank, (iii) allotment of shares prior to receipt of full consideration | The applicant company was incorporated on May 13, 2008 under the provisions of the Companies Act, 1956 (Registration No. U74999TN2008PTC067711) and is engaged in Business of manufacture of carpets, and other floor coverings made of jute, mesta and coir. The applicant received foreign inward remittances from (i) M/s.P EN R International BV, Netherland (ii) M/s P EN R Holding BV, Netherland, (iii) Euro Substrates (Pvt ) Ltd., Sri Lanka (iv) C A T A D Fernando, Sri Lanka towards subscription to equity shares | (i) 1,01,31,394 (ii) 5,48,54,240 (iii) 935 | 46,448 | |
| 593 | Mandala Apparels Pvt Ltd | Feb/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting & delay in allotment of shares & delay in refund of excess inward remittance | (i) 3.6 years (ii) 10 months to 3.6 years (iii) 7 to 8 months (iv) 5.7 years | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares; (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank, (iii) delay in allotment of shares (iv) delay in refund of excess inward remittance received from the nonresident investor | The applicant company was incorporated on September 16, 2009 under the provisions of the Companies Act, 1956 (Registration No. U18109PY2009PTC002290) and is engaged in Business of manufacture of all types of textile garments and clothing accessories. The applicant received foreign inward remittances from (i) M/s Cricklefield International Ltd., British Virgin Islands and (ii) M/s.Aavishkaar India II Company Ltd., Mauritius towards subscription to equity shares | (i) 30,69,876 (ii) 3,78,27,044 (iii) 30,00,000 (iv) 69,876 | 183,326 | |
| 594 | RM Palaniyapan | Feb/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting of FC - TRS | 9 months to 1.3 years | delay in reporting the transfer of shares by resident to nonresident i.e., delay in submission of FCTRS | The applicant, an individual by name Shri R M Palaniyapan was allotted 318649 equity shares in the company M/s.GI Retail Pvt Ltd., a private limited company incorporated under the Companies Act, 1956 on June 24, 2009. The applicant has transferred 8275 equity shares to two Non Resident companies. The applicant had received three inward remittances of amounting to 2,41,36,087/- between 24.09.2014 and 06.02.2015 from the non-resident buyers and transferred 8275 equity shares of M/s GI Retail Pvt Ltd to the Non Resident Buyers | 24,136,087 | 114,830 | |
| 595 | Ramu Annamalai Ramasamy | Feb/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting of FC - TRS | 9 months | delay in reporting the transfer of shares by resident to nonresident i.e., delay in submission of FC TRS | The applicant, an individual by name Shri Ramu Annamalai Ramasamy was allotted 325354 equity shares in the company M/s.GI Retail Pvt Ltd., a private limited company incorporated under the Companies Act, 1956 on June 24, 2009. The applicant has transferred 8276 equity shares to two Non Resident companies.The applicant had received three inward remittances of amounting to ₹ 2,41,36,088/- between 24.09.2014 and 06.02.2015 from the non-resident buyers and transferred 8276 equity shares of M/s GI Retail Pvt Ltd to the Non Resident Buyers | 24,136,088 | 89,830 | |
| 596 | Mobolution India Private Limited | Feb/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 21 days (ii) 13 days to 2 months | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares, (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The applicant company was incorporated on December 03, 2014 under the provisions of the Companies Act, 1956 (Registration No. U72900TN2014PTC098300) and is engaged in Business of other information technology and computer service activities. The applicant received foreign inward remittances from M/s.Mobolutions LLC, USA towards subscription to equity shares | (i) 918,140 (ii) 33,14,520 | 20,700 | |
| 597 | Continental Traffic Service Global Technologies Private Limited | Feb/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting & delay in allotment of shares | (i) 4 months to 1.4 years (ii) 1.1years to 2.1 years | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares, (ii) delay in allotment of shares | The applicant company was incorporated on May 24, 2007 under the provisions of the Companies Act, 1956 (Registration No. U74120TN2007PTC063643) and is engaged in Business of providing data entry services. The applicant received foreign inward remittances from M/s. Continental Traffic Service Inc., USA towards subscription to equity shares | (i) 36,37,004 (ii) 36,37,004 | 61,384 | |
| 598 | CMCS Collaboration Management And Control Solution India Ltd | Feb/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting & allotment prior to receipt of full consideration | (i) 7 months to 1.1 years (ii) 2 months to 5.3 years (iii) 4.6 years | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares, (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank (iii) allotment of shares prior to receipt of full consideration | The applicant company was incorporated on March 30, 2010 under the provisions of the Companies Act, 1956 (Registration No. U74140TN2010PTC075156) and is engaged in Business of providing software support and maintenance to the clients. The applicant received foreign inward remittances from (i) Mr. Bassam Asaad Alsamman, UAE (ii) Mr. Naqvi Syed Ali Hasan, UAE towards subscription to equity shares | (i) 25,31,612 (ii) 27,31,590 (iii) 200,000 | 62,965 | |
| 599 | TCW Renewable Energy (India) Private Limited | Feb/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting & delay in allotment of shares & allotment prior to receipt of inward remittance | (i) 27 days to 1.7 years (ii) 9 days to 10 months (iii) 20 days to 5 months (iv) 3 months | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank (iii) delay in allotment of shares and (iv) allotment of shares prior to receipt of full consideration, | The applicant company was incorporated on July 05, 2007 under the provisions of the Companies Act, 1956 (Registration No. U40108TN2007PTC064184) and is engaged in Business of electric power generation using other non- conventional sources. The applicant received foreign inward remittances from M/s.CW Renewable Energy Ltd.,UK towards subscription to equity shares | (i) 13,12,83,342 (ii) 16,13,99,810 (iii) 972,41,442 (iv) 361,600 | 632,800 | |
| 600 | Cargoplan International India Pvt Ltd | Feb/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | 2 years to 2.5 months | reporting of inflow of funds received from a person resident outside India | The applicant company was incorporated on November 23, 2004 under the provisions of the Companies Act, 1956 (Registration No. U63012TN2004PTC054733) and is engaged in Business of combined office administrative service activities. The applicant received foreign inward remittances from M/s.Freight Links International (Pte) Ltd., Sri Lanka towards subscription to equity shares | 3,006,235 | 11,300 | |
| 601 | Precia Molen India Limited | Feb/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | 2.5 years to 9.7 years | delay in submission of Form FCGPR on allotment of shares | The applicant company was incorporated on December 21, 1995 under the provisions of the Companies Act, 1956 (Registration No. U29309TN1995PTC033931) and is engaged in Business of manufacture of weighing machinery. The applicant received foreign inward remittances from non-resident investors towards subscription to equity shares. The company allotted Bonus Shares and reported the same to Reserve Bank with a delay | 23,000,000 | 212,865 | |
| 602 | Daechang India Seat Company Pvt Ltd | Feb/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 10 days to 8.2 years (ii) 5 days to 7.8 years | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The applicant company was incorporated on February 16, 2006 under the provisions of the Companies Act, 1956 (Registration No. U74999TN2006PTC058883) and is engaged in Business of manufacture of car seats. The applicant received foreign inward remittances from M/s.Daechang Seat Co.Ltd., South Korea towards subscription to equity shares | (i) 17,85,21,922 (ii) 14,15,62,200 | 1,600,800 | |
| 603 | Aurobindo Pharma Ltd | Feb/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting & issue of ESOP to NR without prior govt approval | (i) 5 days to 1.5 years (ii) 3 years to 4.6 years | (i) delay in submission of Form FCGPR within 30 days of the issue of shares (ii) failure to obtain the specific and prior approval of the Government before issue of ESOP to person resident outside India | The applicant is a resident company incorporated on 26.12.1986 under Companies Act, 1956. The company is engaged in the business of manufacturing of pharmaceutical products. The company allotted equity shares and filed Form FC-GPRs The applicant issued ESOPs of the company to non-resident employees without obtaining prior approval of FIPB, Government of India. The company had filed application number dated 20.01.2016 and application number dated 16.02.2016 seeking post facto approval for grant of 361300 ESOPs amounting to ` 2.19 crore and 57000 ESOPs amounting to ` 48.39 lakhs respectively to non-resident employees of the company which was approved post-facto subject to compounding by Reserve Bank of India | (i) 4,38,76,054 (ii) 2,68,23,000 | 248,422 | |
| 604 | MYK Schomburg India Pvt Ltd | Feb/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting & recording transfer without obtaining FC - TRS | (i) 1 months to 10 years (ii) 2 months to 9 years (iii) 10 months | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares towards subscription to equity to a person resident outside India (iii) Contravention of Regulation 4, of Schedule 1 of the notification. The company has taken on record transfer of shares without obtaining certified copy of FCTRS | The applicant is a resident company incorporated as a Private Limited Company under the Companies Act, 1956 on 16.05.2006. The activity of the company is to carry on the business as manufacturers, refiners, dealer, importers, exporters, agents, suppliers, stockiest, representatives in all kinds of construction and building chemicals, epoxy coatings, floor hardeners, epoxy flooring, industrial epoxy flooring, waterproof coatings and products for waterproofing of structures from basement to top terrace etc.The company reported receipt of remittances towards share application money from the overseas investors | (i) 284,99,438 (ii) 285,00,000 (iii) 554,89,500 | 692,185 | |
| 605 | Toyotsu Rare Earths India Pvt Ltd | Feb/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 1 days to 10 days (ii) 2 dy to 29 days | (i) delay in reporting receipt of foreign inward remittances; (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares towards subscription to equity to a person resident outside India | The applicant is a resident company incorporated as a private limited company under the Companies Act, 1956 on October 28, 2009. The company is engaged in the business of export, import and processing of rare earths. | (i) 26,36,55,650 (ii) 211,26,55,650 | 80,000 | |
| 606 | Nuevo Renewable Power Pvt Ltd | Feb/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting & delay in issue of shares and refund ofshare application money | (i) 3 days (ii) 24 days to 1.7 years (iii) 4 months to 1.8 years | (i) neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India, within 180 days of the receipt of the inward remittance (ii) delay in reporting receipt of foreign inward remittances (iii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares towards subscription to equity to a person resident outside India | The applicant is a resident company incorporated as a private limited company under the Companies Act, 1956 on 02.04.2013. The company is engaged in the business of securing the supply of international solar products and development of application specific photo-voltaic products (“ASPC Products”) and assisting clients in India or elsewhere in the integrating the solar energy solutions in their existing businesses and products and to carry on in India or elsewhere the business of export, import, trade, assemble supply, manufacture, service, deal in all types, kinds, size, brands of solar energy products, photo voltaic products, its accessories, spares and the like. | (i) 308,650 (ii) 193,20,803 (iii) 107,04,350 | 87,337 | |
| 607 | Master Image Works Private Limited | Feb/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting & delay in allotment of shares | (i) 1 months to 4.2 years (ii) 1 months to 1.1 years (iii) 26 days to 2.7 years | (i) delay in reporting of inflow of funds received from a person resident outside India (ii) delay in submission of form FCGPR after allotment of shares (iii) delay in allotment of shares beyond the prescribed period of 180 days | The applicant company was incorporated under the Companies Act, 1956 on May 30, 2007 and allotted registration No. U72300DL2007PTC164156 by Registrar of Companies. The company is engaged in the business of IT related services. | (i) 96,06,420 (ii) 101,67,380 (iii) 67,68,639 | 190,302 | |
| 608 | Percos India Private Limited | Feb/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting & recording transfer without obtaining FC - TRS | (i) 3 months to 6.4 years (ii) 6.3 years to 7.9 years (iii) 7.5 years to 8.1 years | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of form FCGPR for allotment of shares (iii) taking on record the transfer of shares by a Resident to a NonResident without filing certified form FCTRS | The applicant was incorporated under the Companies Act, 1956 on May 12, 1995. The applicant is engaged in the business of manufacturing and marketing of pharmaceutical and cosmetic products.The applicant company had transferred 354833 equity shares of the company (as detailed hereunder) from Resident to Non- Resident and took the transfer of shares on record without obtaining form FC-TRS duly acknowledged/certified by the AD bank | (i) 44,56,250 (ii) 285,32,000 (iii) 291,61,267 | 958,405 | |
| 609 | Hexagon Metrology India Private Limited | Feb/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 3.3 years to 11 years (ii) 10 years to 11 years | (i) delay in reporting of inflow of funds received from a person resident outside India (ii) Delay in filing of FCGPR | The applicant company was incorporated under the Companies Act, 1956 on July 22, 2005 and allotted registration No. U51909DL2005PTC138973 by Registrar of Companies. The company is engaged in wholesale of metrology equipment, machinery and supplies, providing consultancy in designing, commissioning of hydro and wind power plants including all related civil work. | (i) 9902000 (ii) 9902000 | 215,675 | |
| 610 | Guetermann India Private Limited | Feb/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting & allotment of shares against funds payable for purchase of assets from closure of liasion office | (i) 7 years (ii) 1 months to 3.5 years (iii) 2 dy to 5 months (iv) 8 years | (i) delay in issue of equity shares beyond the stipulated time period (ii) delay in filing of form FCGPR beyond the stipulated time period (iii) delay in allotment of shares beyond the stipulated time period (iv) allotment of shares against the funds payable by the applicant for assets transferred by the investor on closure of Liaison Office of the investor in India, without priorRBI approval | The applicant, a resident company, was incorporated as Guetermann India Private Limited on February 14, 2005 under the Companies Act, 1956. The applicant is engaged in, inter alia, the business of production, sales, marketing, distribution, export and import of sewing threads, creative articles and complementary goods of any kind. The applicant had received a total of 42 foreign inward remittances from July 8, 2005 to November 27, 2009, for issue of equity shares, out of which, on 39 occasions, there was a delay in reporting The applicant had allotted 419200 equity shares amounting to Rs. 41,92,000/- on November 27, 2007, against the funds payable by the company for assets transferred by the investor on closure of Liaison Office in India, without the prior permission of the Reserve Bank of India. The applicant had requested for adjustment of consideration for these shares out of the pending share application money of Rs. 3,56,31,000/-, which was permitted vide RBI letters ND.FED.FID/10418/06.04.5090/2015-16 and D.FED.FID/10420/06.04.5090/2015-16. Thus, post-adjustment RBI granted approval for allotment of shares amounting to Rs. 3,14,39,000/-. | (i) 31439000 (ii) 237628433 (iii) 206910490 (iv) 4192000 | 671,232 | |
| 611 | MAXG 1864 SE India Liaison Office | Mar/2017 | Establishment of BO/LO/PO in India | FEMA 22/2000-RB | Breach of provisions | 11 years | (i) transferring the assets between the Liaison Office and subsidiary without obtaining prior permission of the Reserve Bank (ii) transferring the surplus funds of the Liaison Office to subsidiary without obtaining prior permission of the Reserve Bank | The applicant, M/s MAXG 1864 SE (formerly Guetermann Holding SE and prior to that, Guetermann AG) is a company formed and registered under the laws of Germany and is engaged in the business of production and sales of sewing threads and all kinds of supplementary products. b) The applicant was granted permission for establishment of liaison office at Gurgaon, Haryana vide Reserve Bank’s approval letter dated May 14, 2004. c) The applicant incorporated Guetermann India Private Limited (GIPL) as its wholly-owned subsidiary in India in 2005. Thereafter, the applicant transferred fixed assets of the Liaison Office amounting to Rs.17,75,292.65/- to Guetermann India Private Limited (GIPL), wholly owned subsidiary without obtaining prior permission of the Reserve Bank. The applicant also transferred equity shares of Guetermann India Private Limited (GIPL), wholly owned subsidiary to the Liaison Office amounting to Rs.41,92,000/-. These transfers were made in contravention of Para (i) and Para (xi) of Annexure to our approval letter for establishment of liaison office in India dated May 14, 2004. Para (i) stipulates that except the proposed liaison work, the office in India will not undertake any other activity of a trading, commercial or industrial nature nor shall it enter into any business contracts in its own name without our prior permission. Para (xi) stipulates that you shall have to obey the law of the land and there shall be no compromise or excuse for the ignorance of the Indian legal system in any manner. d) The applicant also transferred funds lying in the bank account of the Liaison Office amounting to Rs.12,86,090/- to Guetermann India Private Limited (GIPL), wholly owned subsidiary, without obtaining prior permission of the Reserve Bank, in contravention of Para (iv) and Para (ix) of Annexure to our approval letter for establishment of liaison office in India dated May 14, 2004. Para (iv) of the Annexure stipulates that the office in India shall not borrow or lend any money from/to any person in India without our prior permission. While Para (ix) of the Annexure stipulates that debits to this account could be raised only for meeting the local expenses of the office. | 7,353,316 | 85,100 | |
| 612 | Diabu Diamond Tools (India) Pvt Ltd | Mar/2017 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 months (ii) 8.9 years | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) refund of share application money to the foreign investor, a person resident outside India beyond 180 days of the receipt of the inward remittance | The applicant, M/s. Diabu Diamond Tools (India) Pvt. Ltd., was originally incorporated as M/s Diabu (India) Pvt. Ltd. on July 2, 1993, under the Companies Act, 1956 as per the certificate of incorporation issued bythe Registrar of Companies, Karnataka. The name of the company has been changed to M/s Diabu Diamond Tools (India) Pvt. Ltd. with effect from June 23, 2004. The activity undertaken by the company is “manufacturers, producers, exporters, importers of Diamond Tools, Diamond Wheels and Service Engineers for all types of Diamond Tools, Wheels, etc.” The applicant received funds towards share application money from one foreign investor viz., M/s Diabu Diamantwerkzeuge, Germany., | (i) 41569000 (ii) 1081115 | 82,100 | |
| 613 | Express Fabric Cleaners Pvt Ltd | Mar/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 5 to 8 months (ii) 4 months | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank after issue of shares to a person resident outside India | The applicant, Express Fabric Cleaners Pvt. Ltd., was incorporated on June 9, 2014, under the Companies Act, 2013. The activity undertaken by the company is “To carry on the business of Dry cleaning and laundry services for its customers, corporate houses, hospitals, shopping malls Airlines, and their staff both individual as well as collectively.” The applicant received funds towards share application money from one foreign investor viz., M/s RB Investments PTE Ltd, Singapore, | (i) 10403140 (ii) 10403140 | 46,900 | |
| 614 | Criticalog India Private Limited | Mar/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 5 days to 5 months (ii) 2 to 6 months (iii) 3 to 10 months | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank after issue of shares to a person resident outside India and (iii) refund of share application money to the foreign investor and nonissue of equity instruments to the foreign investor, a person resident outside India beyond 180 days of the receipt of the inward remittance | The applicant, M/s. Criticalog India Pvt. Ltd., was incorporated on May 13, 2013, under the Companies Act, 1956. The company is engaged in the business to provide courier services, warehousing and transportation. The applicant received funds towards share application money from three foreign investors viz. Mr. Lloyd B Sanford, USA, M/s. Logon Investments Gmbh, Switzerland and Mr. Charles Antoine Gondrand, Switzerland | (i) 11248805 (ii) 38814252 (iii) 696068 & 7523 | 75,400 | |
| 615 | TV Today Network Limited | Mar/2017 | Current Account Transactions Rules | Current Account Transactions Rules, 2000 | Failure to obtain prior approval of Ministry of Information and Broadcasting | Jan 2006 to April, 2015 | The contravention sought to be compounded relates to not obtaining specific prior approval from the Ministry of Information and Broadcasting (MIB), Government of India before making remittances in foreign exchange towards transponder hiring charges in contravention of Rule 4 read with item 6(a) of Schedule II to Foreign Exchange Management (Current Account Transactions) Rules, 2000. | The applicant was incorporated as T.V. Today Network Limited on December 28, 1999 under the Companies Act, 1956. The applicant is engaged in the business of broadcasting of news television channels in India and abroad. At the time of launch of its first news channel, the applicant received permission of Ministry of Information and Broadcasting (MIB) on December 04, 2000 to uplink using the infrastructure facilities of Videsh Sanchar Nigam Limited (VSNL), which was a Government of India owned entity at the time. On December 23, 2002, the applicant entered into an agreement with Intelsat Global Sales and Marketing Ltd., UK (Intelsat), for a period ranging from March 2003 to December 2005. The applicant received approval from Ministry of Information and Broadcasting (MIB) for the arrangement. The applicant also sought approval from RBI for making payment to the overseas service provider, which was granted vide our letter dated April 17, 2003. Foreign Exchange Management (Current Account Transactions) Rules, 2000, were amended with effect from September 13, 2004, whereby it was notified that remittances towards hiring of transponders by TV channels would require specific prior approval of Ministry of Information and Broadcasting. Thereafter, due to technical issues, the applicant shifted its uplinking to a new satellite where the service provider was PanAmSat Corporation. The applicant obtained approvals from MIB for uplinking, but specific approval for remittances towards hiring of transponders was not taken. Subsequently, PanAmSat merged with Intelsat and Intelsat Corporation came into existence. Therefore, the applicant made remittances to Intelsat Corporation from July, 2006 onwards. In July, 2014, MIB issued an advisory wherein the requirement of specific approval of MIB before making remittances in foreign exchange towards hiring charges of transponders was mentioned. The applicant, thus, applied for post-facto approval and MIB granted it vide their letters Nos. 1402/07/2015-TV (I) Pt.(II) dated May 18 and 1402/07/2015-TV (I) Pt. I dated May 19, 2016, subject to compounding by RBI. | 497,442,039 | 3,428,586 | |
| 616 | Pramati Technologies Private Limited | Mar/2017 | ODI | FEMA 120/RB-2004 | Capitalisation of IPR without obtaining share valuation certificate & delay in filing form ODI | (i) 1 years (ii) 3.2 years | (i) delayed submission of Form ODI Part I for capitalization of the Intellectual Property Rights (IPR) (ii) making investments overseas by way of remittance and capitalization of IPR without share valuation certificate | The applicant was incorporated as Pramati Technologies Private Limited on April 21, 1998 under the Companies Act, 1956. The applicant is engaged in the business of marketing software products, consultancy services, internet provider services and related activities. The applicant set up a joint venture (JV) company, WaveMaker, Inc., USA, on February 20, 2013. The applicant entered into a technology transfer agreement for the transfer of Intellectual Property (IP) known as Pramati Server 6.5 on April 1, 2013 for USD 245,000 to its overseas JV, WaveMaker Inc., USA (earlier known as Cloudjee Inc.). The IP was capitalized for the amount of USD 245,000 against issue of Series A preferred stock by the overseas entity to the applicant. Further, the applicant also remitted USD 224,000 on April 23, 2013 to WaveMaker, Inc., USA for the issue of shares. The applicant delayed in submission of Form ODI Part I for reporting capitalization of IP and also undertook the investments, i.e., remittance of USD 224,000 and capitalization of IP for USD 245,000 without requisite share valuation certificate. The applicant subsequently obtained the share valuation certificate dated May 23, 2016. | (i) 13311952 (ii) 13311952 | 338,800 | |
| 617 | IIFL Holdings Limited (Formerly India Infoline Limited) | Mar/2017 | ODI | FEMA 120/RB-2004 | ODI - Remittance made before obtaining SEBI Approval | 7 to 9 years | overseas direct investment without obtaining requisite prior approval from SEBI | The applicant was incorporated as Probity Research and Services Private Limited on October 18, 1995. The applicant changed its name to India Infoline.Com Limited on May 23, 2000, then to India Infoline Limited on March 23, 2001 and finally to IIFL Holdings Limited on February 18, 2014. The applicant is a Securities and Exchange Board of India (SEBI) regulated entity, engaged in merchant banking activities. A Wholly Owned Subsidiary (WOS) of the applicant company, namely, India Infoline Commodities DMCC, Dubai, was incorporated on December 7, 2005, for undertaking commodities broking business on Dubai Gold and Commodities Exchange (DGCX), Dubai. The applicant made ceratin remittances to its WOS in 2006 & 2009. The applicant, on account of being engaged in financial services sector, was required to take prior approval of the regulatory entity, in the extant case, of SEBI, before making these investments. The applicant was issued the No Objection Certificate by SEBI on June 25, 2008. This certificate had a validity period of only six months, for submission to RBI. However, the certificate was not submitted to RBI within the validity period, but was submitted with a delay on February 12, 2009, by when it had become invalid.The applicant was thus advised to apply for a fresh NOC to SEBI. The fresh NOC was received from SEBI on March 21, 2011. Following further correspondence and meeting of certain other requirements by the applicant, the UIN with regard to the investments was granted by RBI on February 20, 2015. | 20,456,040 | 203,420 | |
| 618 | Krawler Information Systems Private Limited | Mar/2017 | ODI | FEMA 120/RB-2004 | Disinvestment with outstanding dues and non filing of APR | 2 to 6 years | (i) disinvestment of stakes in WOS with outstanding dues and without submission of APRs (ii) nonsubmission of Annual Performance Reports (APR) within the stipulated time period. | The applicant was incorporated as Krawler Information Systems Private Limited, on April 21, 2005. The applicant is engaged in the business of computer programming, consultancy, training and related activities. A wholly owned subsidiary (WOS) of the applicant, namely, Krawler PTE Ltd. (presently known as Deskera Singapore Pte. Ltd.), was set-up in Singapore on October 30, 2008. The applicant disinvested its stake from the WOS on November 28, 2014. At the time of disinvestment, the applicant had outstanding receivables to the tune of SGD 669,369.10 (INR 3,18,41,678.73) on account of export proceeds and SGD 18,614.61 (INR 8,85,491) on account of reimbursement of expenses. The disinvestment of its stake by the applicant, with outstanding receivables, amounted to contravention of Regulation 16(1)(iv) of Notification No. FEMA 120/2004-RB. Also, at the time of disinvestment the APRs of for the years 2012 to 2014 had not been filed, thus contravening Regulation 16(1)(v) of Notification No. FEMA 120/2004-RB. The Annual Performance Reports (APRs) for the years 2009-2014 were submitted with a delay beyond the stipulated time period, thus contravening Regulation 15(iii) of the same Notification. | 32,727,169 | 290,000 | |
| 619 | Nirmal Kumar Bardiya | Mar/2017 | ODI | FEMA 120/RB-2004 | ODI by Individual resident during non permissible period | 3 to 5 years | contravention of provisions of Regulation 5 (1) read with 2 (k) and Regulation 6 (2) (vi) of ODI Regulations | The Applicant, Shri Nirmal Kumar Bardiya a resident individual had remitted Euro 6250 to acquire 50% partly paid-up equity shares of Herotron E – Beam Services, GmbH, Germany under LRS on December 21, 2010. Overseas Direct Investment by resident individuals was permitted vide Notification No. FEMA.263/RB-2013 dated March 5, 2013, effective from dateAugust 5, 2013 (date of notification in the Gazette), which was an amendment to Notification No. FEMA 120/RB-2004. Therefore, the transaction was in contravention of Regulation 5 (1) read with 2 (k) of Notification No. FEMA 120/RB-2004, dated July 7, 2004 (as then applicable), as amended from time to time. Also, the applicant submitted ODI Form I for the remittance effected on December 21, 2010 with a delay of four years and eight months i.e. on August 25, 2015, thereby contravening Regulation 6 (2) (vi) of FEMA 120/RB-2004, dated July 7, 2004 (as then applicable), as amended from time to time.FEMA Notification No. 120/ RB-2004, ibid, regulates the overseas investment by a person resident outside India and as per Regulation 5 (1) read with 2 (k) of the said Notification, save as otherwise provided in the Act, rules or regulations made or directions issued there under, or with prior approval of the Reserve Bank, no person in India shall make any direct investment outside India. This provision was applicable till issuance of FEMA notification No. 263 issued on August 05, 2013 vide which, the resident individuals have been allowed to make overseas direct investment subject to certain terms and conditions. 4. FEMA notification No. 120/2004-RB, ibid, regulates the overseas investment by a person resident outside India and as per Regulation 6 (2) (vi) of the said notification, the Indian Party is required to submit duly completed Part I of the Form ODI, as prescribed by the Reserve Bank. | 370,911 | 67,500 | |
| 620 | Gharda Chemicals Limited | Mar/2017 | ODI | FEMA 120/RB-2004 | ODI - Disinvestment without RBI Approval and non repatriation of disinvestment proceed | 12.5 years | (i) disinvestment of stakes in WOS, involving writeoff, by an unlisted company where investment in overseas venture exceeded USD 10 million, without prior permission of the Reserve Bank of India (ii) nonrepatriation of disinvestment proceeds postliquidation, but taking over the remaining assets and liabilities of the WOS in the books of the applicant | The applicant was incorporated as Gharda Chemicals Limited, on March 6, 1967. The applicant is engaged in the business of selling chemical process know-how and of manufacturing dyes, chemicals and textile auxiliaries etc. A wholly owned subsidiary (WOS) of the applicant, namely, Gharda USA Inc. (Gharda USA), was set-up in USA on October 8, 1997. The total remittances sent to the WOS by the applicant were to the tune of $ 14,317,995.33. On account of suffering substantial year-on-year losses in the WOS, the applicant liquidated the WOS with effect from September 29, 2004. The liquidation involved a write-off to the extent of USD 18,51,411. As the applicant was an unlisted company and the investment in the WOS exceeded USD 10 million, the applicant was required to take RBI approval before writing off the amount. As the said approval was not taken, the disinvestment amounted to the contravention of Regulation 16(1A)(i)(c) of as Notification No. FEMA 120/2004-RB. The remaining assets and liabilities of the WOS (to the extent of USD 12,466,584), were not repatriated as proceeds from disinvestment, but weretaken over in the books of the applicant in the form of Intellectual Property Rights. This amounted to the contravention of Regulation 16(2) of Notification No. FEMA 120/2004-RB. | 652,941,469 | 4,947,061 | |
| 621 | Reliasoft India Private Limited | Mar/2017 | ECB | FEMA 3/2000-RB | ECB - applicant not eligible borrower, LRN not obtained, end use provisions violated, reporting guidelines not adhered | 10 to 10.5 years | (i) availing External Commercial Borrowing (ECB) when the borrower is not an eligible borrower in terms of extant ECB guidelines (ii) utilization of ECB proceeds to meet noncapital expenditure of the company is a nonpermissible end use (iii) draw down of the ECB without obtaining Loan Registration Number (LRN) from the Reserve Bank of India (RBI) is not permitted (iv) reporting guidelines were not adhered to | The applicant was initially incorporated as a private limited company on December 10, 2003 under the Companies Act, 1956. The applicant is engaged in the business of trading in software licenses. The applicant is a wholly owned subsidiary of ReliaSoft Corporation Inc. USA. The applicant obtained a loan amounting to Rs.42,94,050/- from its holding company, ReliaSoft Corporation Inc. USA, to meet non-capital expenditure of the company. The loan amount was received on various dates in 2006. As the applicant is engaged in the trading business, it is not eligible to raise such a loan under the Automatic Route. Further, the loan was utilized for a non- permissible end-use and drawdown of the loan took place without obtaining Loan Registration number (LRN) from the Reserve Bank of India (RBI).In response to an application made to the RBI by the AD Bank, State Bank of India, forwarding a request of the company seeking post facto approval for netting-off export receivables against ECB received from holding company, post facto approval from Foreign Exchange Management Act, 1999 (FEMA) angle in netting-off foreign currency loan amounting to USD 95,000 raised from the overseas company M/s ReliaSoft Corporation, USA through inward remittances from February 2006 to August 2006, against export receivables from the latter was given vide RBI letter FED.CO.ECBD/2551/03.02.107/2016-17 dated September 7, 2016. The company was advised that being engaged in trading of software licenses and other IT services it was not eligible to raise ECB. It was also advised that by raising the ECB, drawing down of the loan without obtaining LRN, utilising loan proceeds for non-capital expenditure and non-reporting of ECB it had contravened FEMA | 4,294,050 | 82,205 | |
| 622 | Givi Misure Pvt Ltd | Mar/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 12.3 years, (ii) 10.3 years | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity and (ii) delay in submission of Form FCGPRs to the Reserve Bank after issue of shares to a person resident outside India | The applicant, M/s. Givi Misure Pvt. Ltd., was incorporated on April 03, 2003, under the Companies Act, 1956. The activity undertaken by the company is “To manufacture and supply Digital Readout Systems,Optical Scales, Magnetic Scales, Encoders and Position Controllers” The applicant had received funds towards share application money from three foreign investors viz., Mr. Guerra Pierluigi, Italy., Mr. Grassi Massimo, Italy., and Mr. D E Nicola Roberto, Italy | (i) 851947 (ii) 850000 | 67,400 | |
| 623 | Chaitanya Rural Intermediation Dev Services Pvt Ltd | Mar/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 3 days to 5 months (ii) 21 days to 5 months | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank | The applicant was incorporated on February 14, 2012, under the Companies Act, 1956. The company is engaged in the business of NBFC Micro Credit – Rural Credit and related services. The applicant received funds towards share application money from nineteen foreign investors | (i) 34545167 (ii) 88225805 | 83,700 | |
| 624 | Bigtapp India Pvt Ltd | Mar/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 11 months (ii) 8 months | (i) delay in submission of Form FCGPRs to the Reserve Bank after issue of shares to a person resident outside India (ii) delay in refund of share application money to the foreign investor, a person resident outside India beyond 180 days of the receipt of the inward remittance | The applicant, M/s. Bigtapp (India) Pvt. Ltd., was incorporated on September 17, 2014, under the Companies Act, 2013. The company is engaged in the business of Business Intelligence, Business Analytics, big data and cloud data management, etc. The company allotted equity shares and filed FC-GPRs | (i) 1975000 (ii) 17329 | 13,600 | |
| 625 | Dataglen Technologies Pvt Ltd | Mar/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 3 days to 1 months (ii) 14 days to 9 months | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank after issue of shares to a person resident outside India | The applicant, M/s. Dataglen Technologies Pvt. Ltd., was incorporated on April 28, 2015, under the Companies Act,2013. The activity undertaken by the company is “To carry on the business of Software designing, development, customization, implementation, maintenance, testing and benchmarking, designing, developing and dealing in computer software and solutions, etc.” The applicant received funds towards share application money from the one foreign investor viz., M/s Dataglen Inc, USA., | (i) 3303545 (ii) 7267752 | 27,300 | |
| 626 | Smartpools (International) Pvt Ltd | Mar/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | 4 months | delay in reporting receipt of foreign inward remittances towards subscription to equity | The applicant, M/s. Smartpools (International) Pvt. Ltd., was incorporated on April 28, 2010, under the Companies Act, 1956. The activity undertaken by the company is “To carry on the business of designing, manufacture, construction, Installation and Commissioning, running, operating, offering, consultancy services and maintenance of swimming pools, etc.” The applicant had received funds towards share application money from one foreign investor viz., M/s Ascenteus Holdings SDN BHD, Malaysia. | 4,268,206 | 13,800 | |
| 627 | Signure Technologies Private Limited | Mar/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | 25 dy to 2 years | delay in submission of Form FCGPR to the Reserve Bank after issue of shares | The applicant was incorporated on November 27, 2007 under Companies Act, 1956 and deals in information technology and computer service activities.The applicant received inward remittances from foreign investors under automatic route and reported the same to Reserve Bank of India | 4,991,964 | 24,000 | |
| 628 | Wuxi Yushow Medicare Pvt.Ltd | Mar/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting & refund of share application money | (i) 302 days (ii) 115 to 422 days (iii) 416 days | (i) delay in reporting of inward remittance against issue of equity shares (ii) delay in submission of FCGPR to the Reserve Bank after issue of shares (iii) delay in application for refund of excess amount | The Applicant Company, Wuxi Yushou Medicare Pvt. Ltd. is a private Limited company duly incorporated under the Companies Act, 1956 on December 28, 2012. The applicant is engaged in manufacturing, import & export of medical disposables including auto disposable and safety syringes. The applicant company received foreign inward remittances towards investment in equity shares from non-resident and reported to RBI with delay | (i) 16,42,980 (ii) 102,28,318 (iii) 142,980 | 73,500 | |
| 629 | Clifford Thames India Services Private Limited | Mar/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting & allotment of shares | (i) 1.10 years to 6.8 years (ii) 6.8 years (iii) 2 to 6.5 years | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank and (iii) delay in allotment of shares | The applicant company was incorporated on September 10, 2009 under the provisions of the Companies Act, 1956 and is engaged in Business of data processing activities including report writing. The applicant received foreign inward remittances from M/s.Clifford Thames Asia Pacific Pty Ltd., Australia towards subscription to equity shares and reported the same to the Reserve Bank | (i) 87,10,526 (ii) 100,000 (iii) 86,10,520 | 194,067 | |
| 630 | Pactron India Private Limited | Mar/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting & refund of share application money | (i) 2 days to 5 months (ii) 1 to 12 months (iii) 1.8 to 2.3 years | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank (iii) delay in refund of excess share application money | The applicant company was incorporated on September 23, 2013 under the provisions of the Companies Act, 1956 (Registration No. U72900TN2013FTC93097) and is engaged in Business of providing software support and maintenance to the clients. The applicant received foreign inward remittances from (i) Mr. Sriram Subramaniam Iyer, USA, (ii) Mr. Kombupalayam Prakash, USA, (iii) M/s.Pactron, HJPC Corporation, USA towards subscription to equity shares and reported the same to the Reserve Bank | (i) 10,19,952 (ii) 10,00,000 (iii) 12,016 | 25,008 | |
| 631 | Leitwind Shriram Manufacturing Ltd | Mar/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting & allotment of shares | (i) 4 days to 1.5 months (ii) 1 days to 1 years (iii) 2.5 to 3 years | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank and (iii) delay in allotment of shares to the overseas investor | The applicant company was incorporated on January 10, 2007 under the provisions of the Companies Act, 1956 (Registration No. U31101TN2007PLC061993) and is engaged in Business of manufacture of engines and turbines, except aircraft, vehicle and cycle engines. The applicant received foreign inward remittances from M/s.Leitwind BV, Netherlands towards subscription to equity shares and reported the same to the Reserve Bank | (i) 53,43,303.63 (ii) 54,04,126 (iii) 62,000 | 241,720 | |
| 632 | Danam Infotech Private Limited | Mar/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 5 months (ii) 20 days to 7 months | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank, | The applicant company was incorporated on November 24, 2011 under the provisions of the Companies Act, 1956 (Registration No. U72900TN2011PTC083275) and is engaged in Business of computer consultancy and computer facilities management activities. The applicant received foreign inward remittances from M/s. Danam Consulting Inc., USA towards subscription to equity shares and reported the same to the Reserve Bank | (i) 300,000 (ii) 26,16,760 | 22,080 | |
| 633 | Australian Foods India Private Limited | Mar/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting & allotment of shares | (i) 2 days to 11.3 years (ii) 1 days to 10 years (iii) 25 days to 6 months | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank and (iii) delay in allotment of shares to the overseas investor | The applicant company was incorporated on November 12, 1998 under the provisions of the Companies Act, 1956 (Registration No. U15499TN1998PTC041414) and is engaged in Business of manufacture of bakery products. The applicant received foreign inward remittances from (i) Mr. Richard Hill, Australia (ii) Mr. John Lynch, USA (iii) Mr. Vappalak A Ravindran, UK (iv) M/s.Cookie Man (Mauritius) Ltd., Mauritius towards subscription to equity shares and reported the same to the Reserve Bank | (i) 14,92,74,295 (ii) 15,56,41,873 (iii) 313,19,169 | 704,538 | |
| 634 | CAN Automotion Private Limited | Mar/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 7 days to 3 months (ii) 3 to 4 months | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares, (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The applicant company was incorporated on December 11, 2009 under the provisions of the Companies Act, 1956 (Registration No. U74999TN2009PTC073797) and is engaged in Business of wholesale trade in electronic equipment and accessories. The applicant received foreign inward remittances from (i) Mr. Madhusudan Giri, Australia and (ii) Mr. Breasley Clement Berenger, Australia towards subscription to equity shares and reported the same to the Reserve Bank | (i) 206,484 (ii) 929,160 | 21,400 | |
| 635 | Meeturpro E Ventures Pvt Ltd | Mar/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | 14 days to 2 months | delay in submission of Form FCGPR on allotment of shares | The applicant company was incorporated on October 13, 2014 under the provisions of the Companies Act, 1956 (Registration No. U74900TN2014PTC097660) and is engaged in Business of Tax consultancy. The applicant received foreign inward remittances from M/s.Meeturpro E Ventures Pte Ltd., Singapore towards subscription to equity shares and reported the same to the Reserve Bank | 3,149,300 | 10,875 | |
| 636 | Olive Beach Properties Private Limited | Mar/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting & allotment of shares | (i) 17 days to 6.10 years (ii) 4 days to 3.6 years (iii) 2.3 to 5.10 years | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank and (iii) delay in allotment of shares | The applicant company was incorporated on September 21, 2007 under the provisions of the Companies Act, 1956 (Registration No. U55100TN2007PTC064844) and is engaged in Business of Hotels and Motels, inns, resorts providing short term lodging facilities includes accommodation in house boats. The applicant received foreign inward remittances from (i) Ms. Vimaladevi Rasanayagam, Malayasia (ii) Mr. Jayapalasingam Kandiah, Malayasia (iii) Mr. Ashvin Jayapalasingam, Malayasia towards subscription to equity shares and reported the same to the Reserve Bank | (i) 1411094 (ii) 334704 (iii) 160927 | 85,813 | |
| 637 | Acura Agencies And Sales Pvt Ltd | Mar/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting & refund of share application money | (i) 5 months (ii) 9.1 years | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in refund of inward remittance received to the overseas investor | The applicant company was incorporated on October 20, 1993 under the provisions of the Companies Act, 1956 (Registration No. U52599TN1993PTC026050) and is engaged in Business of commission agents dealing in wholesale trade. The applicant received foreign inward remittance from Mr. Lee Su Chen, Taiwan towards subscription to equity shares and reported the same to the Reserve Bank. The applicant refunded the share application money to the overseas investor with prior approval of Reserve Bank with delay of nine years one month one day beyond the prescribed period of 180 days. | (i) 995,158 (ii) 995,158 | 66,696 | |
| 638 | Baltimore Investments Pvt Ltd | Mar/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting & refund of share application money | (i) 5 months (ii) 9.1 years | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in refund of inward remittance received to the overseas investor | The applicant company was incorporated on December 07, 1995 under the provisions of the Companies Act, 1956 (Registration No. U65993TN1995PTC033771) and is engaged in Business of Other financial service activities, except insurance and pension funding activities. The applicant received foreign inward remittance from Mr. Lee Su Chen, Taiwan towards subscription to equity shares and reported the same to the Reserve Bank | (i) 995,158 (ii) 995,158 | 66,696 | |
| 639 | SSK Ventures Private Limited | Mar/2017 | FDI | FEMA 20/2000-RB | Delay in reporting | 6 days to 2 months | delay in submission of Form FCGPR to the Reserve Bank | The applicant is a resident company incorporated on 26.12.2012 as a private limited company under Companies Act, 1956. The company is in the business of horticulture, green house farming- cultivation of exotic fruits and vegetables under controlled environment including hydroponics. | 28,699,082 | 18,700 | |
| 640 | A.K.V. Jogi Naidu | Mar/2017 | FDI | FEMA 20/2000-RB | breach of provisions | (i) 3.3 years (ii) 10.3 years | (i) Wrong mode of payment for shares transferred to persons resident outside India (ii) Delay in filing FCTRS in terms of Paragraph 8 and Regulation 10(A)(b)(i) | The applicant is a resident individual, a legal professional, who is a shareholder and Director in M/s Vizag Hospital & Cancer Research Centre Private Limited (VHCRC) . He had sold and transferred 101620 equity shares of VHCRC to six NRIs in 2008. VHCRC was holding the funds remitted by the six NRIs through normal banking channel to the erstwhile Janaki Hospitals Pvt Ltd, Visakhapatnam by virtue of the merger of Janaki Hospitals Pvt Ltd with VHCRC through a court order dated 25.08.2006. As per the instructions of the non-resident investors, VHCRC had paid the sale consideration to the applicant-resident. The applicant had used a wrong mode of payment in contravention of Para 8 of FEMA 20, for sale of shares by way of transfer to persons resident outside India | (i) 290,63,320 (ii) 290,63,320 | 683,285 | |
| 641 | Jain Sons Finlease Limited | Mar/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 7 days to 1 months (ii) 23 days to 1.5 months | (i) delay in reporting receipt of foreign inward remittances; (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares towards subscription to equity to a person resident outside India | The applicant is a resident company incorporated as a private limited company under the Companies Act, 1956 on 05.02.1998. The company is engaged in the business of other financial service activities, except insurance and pension funding activities. The applicant had received foreign inward remittances from overseas investors towards advance for subscription to equity shares/CCPS | (i) 53,00,00,022 (ii) 81,99,92,458 | 81,580 | |
| 642 | Dharti Dredging And Infrstructure Ltd | Mar/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting & issue of equity shares prior to receipt of consideration | (i) 5 to 14 days (ii) 9.2 years | (i) issue of equity shares before the receipt of consideration to a person resident outside; (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares towards subscription to equity to a person resident outside India | The applicant is a resident company incorporated as a private limited company under the Companies Act, 1956 on 11.11.1993. The company is engaged in the business of construction of waterways, harbors and river works, dredging of waterways and other related activities | (i) 26,99,97,990 (ii) 27,00,00,000 | 1,774,994 | |
| 643 | Intellectual Capital Advisory Services Pvt Ltd | Mar/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 5.5 to 5.8 years (ii) 8 months to 5.8 months | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares towards subscription to equity to a person resident outside India | The applicant is a resident company incorporated as a private limited company under the Companies Act, 1956 on 05.03.2002 The company is engaged in the business of management and consultancy services The applicant had received foreign inward remittances from Foreign Companies towards advance for subscription to equity shares | (i) 23,79,32,388 (ii) 24,13,32,147 | 1,133,375 | |
| 644 | Sahal Business Private Ltd | Mar/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in filing form FC-TRS | 10 months | delay in filing of form FCTRS | The applicant was incorporated on March 25, 1991 under the Companies Act, 1956 and is engaged in the business of forging, pressing, stamping and roll-forming of metal, powder metallurgy. M/s Gustav Wolf Cord & Wire Private Ltd, having its registered office at 62A Hazra Road, P S Gariahat, Kolkata, was incorporated on December 18, 1996, with inflow of foreign investment from its parent company, M/s Gustav Wolf Seil-Und Drahtwerke Gmbh & Co, Germany (transferor). As the Indian company was not performing, an agreement between M/s Gustav Wolf Seil-Und Drahtwerke Gmbh & Co, Germany and the applicant was entered into, on May 20, 2015 for sale of equity shares of M/s Gustav Wolf Cord & Wire Private Ltd held by M/s Gustav Wolf Seil-Und Drahtwerke Gmbh & Co, Germany to the applicant. The applicant remitted Rs 1,21,12,500 (Euro 1,66,517.73) towards purchase of 14,25,000 equity shares of M/s Gustav Wolf Cord & Wire Private Ltd, Kolkata from M/s Gustav Wolf Seil-Und Drahtwerke Gmbh & Co, Germany on June 9, 2015 and filed form FC-TRS with AD bank on June 25, 2016.Reserve Bank, Kolkata Regional Office, Kolkata vide letter dated August 31, 2016 advised the AD bank to take form FC-TRS on record and AD certified the form FC-TRS on August 31, 2016. | 12,112,500 | 55,833 | |
| 645 | Savitri Devi Chowdhury | Mar/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in filing form FC-TRS | 8.5 years | delay in filing of form FCTRS | The applicant was born on December 6, 1947 and resides at 10F, Alipore Park Place, Kolkata – 700 027. She has entered in a share purchase agreement with M/s GE Capital International, Mauritius to sell 8,64,440 equity shares of M/s Titagarh Wagons Ltd of face value Rs 10/- per share on July 6, 2007.The applicant received Rs 44,00,00,000 (USD 10,916,759.71) towards transfer of 8,64,440 equity shares from M/s GE Capital International, Mauritius on August 13, 2007 and filed form FC-TRS to AD bank on March 23, 2016. Reserve Bank, Kolkata Regional Office, Kolkata vide letter dated September 20, 2016 advised the AD bank to take form FC-TRS on record and AD certified the form FC-TRS on September 20, 2016. | 440,000,000 | 850,000 | |
| 646 | Turmeric Vision Private Ltd. | Mar/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting & failure to take FIPB approval for increase in FDI | (i) 1 to 2 months (ii) 1 to 4 months (iii) 2.8 years | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity; (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India and (iii) failure to obtain, specific and prior Government (FIPB) approval for increase in Foreign Direct Investment inflow | he applicant company was incorporated on July 24, 2006 under the Companies Act, 1956 and is engaged in the business to carry on the business of creating, developing, directing, producing, promoting and operating television channels, FM radio channels, serials, shows, films and other film documentaries and to design, develop and market related supportive software. The applicant received foreign inward remittance from M/s South Asia Creative Assets Ltd., Mauritius, towards equity / preference share capital and reported the same to the Reserve Bank. The company approached the Foreign Investment Promotion Board (FIPB) on April 22, 2010 seeking permission to receive foreign equity participation. FIPB vide their letter No. FC II: 60(10)/91(2010) dated June 14, 2010 and also vide their letters dated September 27, 2010 and October 28, 2011 has approved foreign equity participation up to maximum 80% by way of subscription of equity shares and/or Compulsory Convertible Preference Shares (CCPS) and/or Compulsory Convertible Debentures (CCDS) or by way of purchase of existing equity shares from company’s Resident Share Holders or by the combination of any of the above. Clause 4 of FIPB Approval also records that the initial FDI Inflow by the Foreign Collaborator/Investor would be Rs. 122.1 crores. Further, in reply to Company’s application No. 4110 dated May 30, 2016, FIPB vide their letter No. FC II 60(2010)/91/(2010), dated August 21, 2016 stated that there has been no breach of percentage of FDI approved. However, FIPB further noted that, the Government of India has also observed that an amount of Rs.135 crores was brought in as FDI instead of above stated approved amount.Accordingly, FIPB directed the company to approach RBI for compounding of the said breach of FDI Policy | (i) 300,00,000 (ii) 51,22,29,656 (iii) 12,90,00,000 | 944,000 | |
| 647 | Samuel Aaron Trading India Private Limited | Mar/2017 | FDI | FEMA 20/2000-RB | FDI - non filing of Form FC - TRS and delay in filing FLA | (i) 7.5 years (ii) 8 years | (i) taking on record by the applicant, the transfer of shares by resident to nonresident without filing certified form FCTRS (ii) delay in filling Annual Return on Foreign Liabilities and Assets (FLA Return) | The applicant company was incorporated on April 29, 2008, under the Companies Act, 1956. It is engaged in the business to trade, deal in diamonds, rough diamonds, precious and semi-precious stones, gold and silver jewelry and to export or import diamond, precious and semi-precious stone studded gold jewelry made out of it, to carry on business of Merchants, Importers and exporters of Bullion and to make, buy, sell, import, export and repair diamond, precious and semi-precious stone studded gold jewelry Mr. Venkataraman Ananthanarayan, Resident Indian and Mr. Vaibhav Mody, Resident Indian transferred 5,000 Equity Shares each of Rs 10/- of M/s Samuel Aaron Trading (India) Pvt. Ltd. to M/s Samuel Aaron Inc, United States of America on February 19, 2009 and the transfer of total 10,000 shares (FCTRS) was certified by the Authorized Dealer Bank on October 26, 2016. The transfer of shares was taken on record by the company without obtaining duly acknowledged / certified form FC-TRS by the AD bank | (i) 100,000 (ii) NIL | 97,000 | |
| 648 | Dentsu One Ltd (Dentsu Marcom | Mar/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 4 months (ii) 5 years | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company was incorporated on November 27, 2003 as M/s Dentsu Marcom Private Limited under the Companies Act, 1956 and thereafter changed name as M/s Dentsu One Private Limited on July 05, 2016 and is engaged in the business of advertising, media planning, media buying and media operations and advertising consultancy etc. The applicant received foreign inward remittance from M/s Dentsu Inc, Tokyo, Japan towards equity / preference share capital and reported the same to the Reserve Bank | (i) 52,08,000 (ii) 74,00,000 | 62,000 | |
| 649 | Tinius Olsen India Private Limited | Mar/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | 1-2 years | delay in reporting of FCGPR form for allotment of shares | The applicant company was incorporated under the Companies Act, 1956 on April 24, 2008 and allotted registration No. U29113DL2008PTC177135 by the Registrar of Companies. The applicant company is engaged in manufacturing and export of static tension, compression materials testing machines and Universal Testing Machine. b) The applicant company had allotted equity shares on 4 occasions from 19.01.2009 to 13.06.2014, out of which, on 3 occasions the reporting of form FC-GPR was done with delay | 11,400,000 | 24,635 | |
| 650 | Bashkent(India) Education Private Limited | Mar/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 1.3 years to 13.3 years (ii) ; 10 months to 13.2 years (iii) 10 to 11 months | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of form FCGPR for allotment of shares (iii) delay in issue of shares to person resident outside India | The applicant company was incorporated under the Companies Act, 1956 on May 6, 1998 and allotted registration No. U51909DL1998PTC093670 by Registrar of companies. The applicant company is engaged in providing education services. | (i) 139,06,724 (ii) 139,00,050 (iii) 111,71,921 | 739,945 | |
| 651 | GSH(India) Private Limited | Mar/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting & refund of share applicattion money | (i) 5 months to 1.7years (ii) 1 ,months to 6 months | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in refund of shares application money | The applicant company was incorporated under the Companies Act, 1956 on April 27, 2012 and allotted registration No. U74999DL2012FTC234873 by Registrar of Companies. The company is engaged in providing manpower and management resources for engineering and maintenance services to all types of infrastructure and machinery.The company had received a total of 29 foreign inward remittances from December 27, 2012 to September 16, 2015 for issue of equity shares, out of which, on 8 occasions the company had reported inward remittances with delay The company had received 7 remittances amounting to Rs.2,45,59,256.93 from April 23, 2013 to October 03, 2013 (as detailed under) but neither allotted shares nor refunded the amount and approached RBI on 07.05.2014 seeking approval for refund of share application money with a delay | (i) 246,59,256 (ii) 245,59,256 | 204,647 | |
| 652 | Belkin India Private Limited | Apr/2017 | ECB | FEMA 3/2000-RB | Expenses paid by group companies on behalf of Indian company | 1 to 6 years | Expenses paid by group companies in foreign exchange on behalf of Indian company constituted ECB and for which no ECB related compliances were undertaken by Indian entity. | The applicant was incorporated in India, as Belkin India Private Limited on April 16, 2009 in order to provide marketing, advertisement and technical support services to overseas group entities in relation to computer products, mobility products, accessories and other products of the Belkin Group. The applicant was incorporated as a subsidiary of Belkin B.V., Netherlands. Since its incorporation in 2009, BIPL had been incurring certain expenditure that was paid by its overseas group entities. The payments since remitted to the group companies, amounted to external commercial borrowings, thereby contravening Regulation 3 read with Schedule I of Notification No. FEMA 3/2000-RB. The post facto approval was provided by RBI vide its letter dated August 29, 2016, subject to compounding. | 42,997,281 | 356,379 | |
| 653 | Nitin Fire Protection Industries Limited | Apr/2017 | ODI | FEMA 120/RB-2004 | ODI - Delay in Reporting | 9 months to 41 months | (i) delay in reporting of capitalization of expenses incurred (in Form ODI) (ii) delay in reporting of issuance of bank guarantee (In Form ODI) (iii) delay in reporting of Annual Performance Reports (APR) within the stipulated time period. | The applicant was incorporated as Nitin Fire Protection Industries Limited on September 04, 1995. The applicant is engaged in the business of manufacturing, buying, selling, export of fire extinguishers and other equipment. A Wholly Owned Subsidiary (WOS) of the applicant company, namely, Nitin Ventures FZE was incorporated in Dubai on July 25, 2007. The applicant incurred expenses in the nature of refundable bank charges of USD 149000 on behalf of its subsidiary which were later capitalized instead of repayment. This capitalization of expenses was reported with a delay in Part I of Form ODI. The applicant had also issued 2 Bank guarantees on behalf of its WOS for USD 2.32 million and USD 15.92 million in favor of Axis Bank, Dubai through its AD bank (Axis Bank, Mumbai) which were again reported with a delay in Form ODI.The Annual Performance Reports (APRs) for the years 2014 and 2015 were submitted with a delay beyond the stipulated time period, | 1,14,85,48,500 | 253,920 | |
| 654 | Aptivaa Consulting Solutions Private Limited | Apr/2017 | ODI | FEMA 120/RB-2004 | ODI - Delay in obtaining share certificates Delay in filing APR | (i) More than 6 years (ii) 68 days to 1348 days | (i) Non submission of share certificate / documentary evidence of the overseas entity for investment made within the specified time (ii) Delay in submission of APR | The Applicant, a resident company in India bearing had made an investment on July 06, 2010 of USD 16,000 in the Wholly Owned Subsidiary by submitting ODI Form I through the AD bank for which UIN BYWAZ20100506 was allotted. The IP is engaged in data processing, software development and computer consultancy services. The Indian Party did not submit copy of the share certificate of the overseas entity / documentary evidence for the investment made within the specified time and obtained the share certificate in October 2016 i.e. after a delay of more than six years in contravention of the provisions of Regulation 15 (i) of Notification No. FEMA 120/RB-2004 dated dated July 7, 2004. ii. The Indian Party submitted APRs for the years 2010-11 to 2015-16 with a delay of 68 days to 1348 days, in contravention of Regulation 15 (iii) of Notification No. FEMA 120/RB-2004 dated July 7, 2004. | 761,280 | 120,000 | |
| 655 | Apollo Tyres Ltd | Apr/2017 | ODI | FEMA 120/RB-2004 | ODI - disinvestment in contravention of regulations | (i) 7 years (ii) 1 years | (i) disinvestment of shares of Apollo Tyres Cooperatief U.A, Amsterdam, Netherland without submission of fair valuation certificate (ii) disinvestment within one year under automatic route | The applicant was incorporated as Apollo Tyres Limited on September 28, 1972 under the Companies Act, 1956. The applicant is engaged in the business of manufacture and sale of tyres. The applicant along with its subsidiary Apollo Mauritius Holdings Pvt Limited set up a step down subsidiary, Apollo Tyres Cooperatief U.A, Amsterdam, Netherland.The applicant did the disinvestment without submission of fair valuation certificate and disinvestment took place within one year under automatic route, thus contravening the provision of regulation 16(1) (iii) and 16 (1) (v) of Notification No FEMA 120-RB 2004). | 2,416,026 | 130,200 | |
| 656 | Wanbury Limited | Apr/2017 | ODI | FEMA 120/RB-2004 | ODI - Contravention of Provisions | (i) 5-7 years (ii) 5 to 8 months (iii) 7 years | (i) nonfiling of Form ODI after making the initial remittance to wholly owned subsidiary (WOS) overseas and making additional remittances before obtaining Unique Identification Number (UIN) from the Reserve Bank Of India (RBI); (ii) extending of loan (quasi equity capital) without initial equity contribution; (iii) delayed filing of Annual Performance Report (APR) in respect of the overseas entity | The applicant was initially incorporated as Pearl Distributors Private Limited on August 11, 1988 under the Companies Act, 1956. The name of the applicant was changed to Pearl Organics Private Limited on January 17, 1991, then to Pearl Organics Limited on August 06, 1991 and finally to Wanbury Limited on September 21, 2004. The applicant is presently a listed public company. The applicant is engaged in the business of Active Pharmaceutical Ingredients and Domestic Formulations. On August 24, 2008, the applicant set up a wholly owned subsidiary (WOS) in UAE (Wanbury Global FZE) to undertake general trading in pharmaceutical products. The applicant made the certain remittances to the WOS. The applicant made the initial remittance of AED 55,210 to the overseas subsidiary as quasi share capital in the subsidiary. At the time, the applicant did not have equity contribution in the overseas entity. The applicant did not submit a copy of the quasi share capital agreement and also did not report the initial remittance to the Reserve Bank of India (RBI) in Form ODI within the prescribed period. Thereafter, the applicant made multiple remittances as above without obtaining the Unique Identification Number (UIN) from the RBI. The UIN was allotted to the applicant in April, 2015. The applicant made only one remittance towards equity as at serial number 4 in the above table. All other remittances were made towards quasi share capital in the overseas subsidiary. The applicant also delayed in filing the APRs with the RBI in respect of the overseas entity for the years ended March 31, 2010 to March 31, 2016 (i.e. 7 years) beyond the prescribed period. The above investments by the applicant without submission of Form ODI to the RBI and without obtaining UIN; extending of loan (quasi equity) without initial equity contribution in the WOS and delayed submission of APRs for the years 2010 to 2016 were contraventions of Regulations 6(2)(vi), 6(4) and 15(iii) of Notification No. FEMA 120/2004-RB dated July 7, 2004. The applicant is also presently under Directorate of Enforcement (DoE) investigation. | (i) 13,22,74,632 (ii) 10,81,136 | 1,164,000 | |
| 657 | Aarti Yarnfab Private Limited | Apr/2017 | FEMA -Borrowing & Lending in Rupees Regulations 2000 | FEMA 4/2000-RB | Loan Taken from NRI without issue of non - convertible debentures by way of public offer | 1.4 yr to 4.4 yr | (i) raising loan from NonResident Indian (NRI) majority shareholder through borrowings and without using the requisite public offer route of issuing nonconvertible debentures (NCDs) and (ii) making repayment of part loan amount before the expiry of three years, | The applicant was incorporated as Aarti Yarnfab Private Limited on March 30, 2009 under the Companies Act, 1956. The applicant is engaged in the business of manufacturing yarns, textiles, home furnishings, etc. During 2012 and 2013, the applicant availed loans amounting to Rs.13,29,51,000/- on various dates from its non-resident Indian (NRI) majority shareholder, Shri Sandeep Rajkumar Gupta. The applicant subsequently sought Reserve Bank of India (RBI) approval for conversion of the loans into External Commercial Borrowing (ECB). However, the request of the applicant was not acceded to and the applicant was advised to refund the loan amount of Rs.13,29,51,000/- to the NRI equity holder vide RBI letter FED.CO.ECBD. 1460/03.02.107/2016-17 dated August 08, 2016. Thereafter, due to insufficiency of funds, the applicant sought and obtained RBI approval for conversion of part loan amount of Rs.10,29,51,000/- into equity shares and repayment of the residual loan amount of Rs.3,00,00,000/- to the NRI lender vide letter CO. FED.ECBD/ 3747/03.02.107/2016-17 dated October 07, 2016. The applicant refunded the amount of Rs.3,00,00,000/- to Shri Sandeep Rajkumar Gupta on October 28, 2016 by way of credit to his NRE account. With regard to the balance amount of Rs.10,29,51,000/-, the applicant issued 26,47,916 equity shares having face value of Rs.10/- at a premium of Rs.28.88 on November 01, 2016. The applicant filed Form FCGPR for the said allotment on November 19, 2016. The applicant further also additionally received Rs.24,00,000/- as loan from the NRI equity holder, Shri Sandeep Rajkumar Gupta, on October 17, 2012. The loan was repaid by the applicant on the dates below, prior to expiry of 3 years from the date of the loan. No approval of the RBI was sought with regard to this loan. | 135,351,000 | 11,080,000 | |
| 658 | Greentek Systems (India) Private Limited | Apr/2017 | ODI | FEMA 120/RB-2004 | ODI- Non submission of APRs | 2 years | Nonsubmission of Annual Performance Reports (APR) for the years 2012 and 2013 | The applicant was incorporated as GreenTek Systems (India) Limited on January 19, 2011. It converted into private limited company and changed its name to GreenTek Systems (India) Private Limited on December 17, 2014. The applicant is engaged in the business of carrying out research and development activities in the field of development of renewable energies. The applicant entered into a Collaborative Development Agreement (CDA) with Infinia Corporation, USA, on September 10, 2012, and invested USD 1 million in this JV. Thirty foreign parties invested in the said JV, the stake of the applicant being to the extent of 2.04%. Due to disinvestment by two major foreign parties, the JV was forced to file for bankruptcy on September 17, 2013, and the ownership of the JV passed on to another management. The applicant was unable to obtain financial statements and hence was unable to submit Annual Performance Reports (APRs), for the said JV for the years ending 2012 and 2013, thus contravening Regulation 15(iii) of FEMA 120/2004-RB. The applicant was exempted from the requirement of submission of APRs, subject to compounding. | 52,610,000 | 20,000 | |
| 659 | Beaver Visitec Ophthalmic Private Limited | Apr/2017 | ECB | FEMA 3/2000-RB | Expenses paid by group companies on behalf of Indian company | 1 to 6 years | Expenses paid by group companies in foreign exchange on behalf of Indian company constituted ECB and for which no ECB related compliances were undertaken by Indian entity. | The applicant was incorporated in India, as Beaver Visitec Opthalmic Private Limited on October 07, 2010. The applicant is engaged in the business of manufacture of ophthalmic products. The applicant was incorporated as a subsidiary of Beaver – Visitec International Sales Ltd., UK. Since its incorporation in 2010, the applicant had been incurring certain expenditure that was paid by its parent company. The payments since remitted to the parent company, on October 18, 2016, amounted to external commercial borrowings, thereby contravening Regulation 3 read with Schedule I of Notification No. FEMA 3/2000-RB. The post facto approval was provided by RBI vide its letter dated August 29, 2016, subject to compounding. | 10,289,336 | 122,022 | |
| 660 | Hasabi Hospitality Services Private Limited - April 2017 | Apr/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 10 days - 2 months (ii) 3 days to 2.5 months | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The applicant, a resident company, was incorporated as Hasabi Hospitality Services Private Limited on July 31, 2013 under the Companies Act, 1956. The applicant is engaged in the business of tourism, through acquiring and managing holiday homes, cottages, heritage villas etc, and acting as tourist operators in India and abroad. The applicant received inward remittances, for the issue of shares (transactions in which there was a delay in reporting). | (i) 13,83,32,065 (ii) 11,86,67,300 | 95,000 | |
| 661 | Sharekhan Consultants Private Limited | Apr/2017 | FDI | FEMA 20/2000-RB | FDI - Investment in restricted Sectors | 2 to 5 years | undertaking the activities of mutual fund distribution and referral services even after the applicant became a foreign owned company | The applicant was incorporated as Sharekhan Shares and Securities Private Limited on June 20, 2000. It changed its name to Sharekhan Distribution Services Private Limited on March 13, 2002, and then to Sharekhan Distribution Services Limited on June 21, 2007, after conversion to a Public Limited Company. It again changed its name to Sharekhan Insurance Broking Limited on July 02, 2008. It converted to Private Limited Company and changed its name to Sharekhan Insurance Broking Private Limited on March 24, 2015 and finally to Sharekhan Consultants Private Limited, on May 13, 2015. The applicant is engaged in the business of broking and other financial services. The applicant is a Wholly Owned Subsidiary (WOS) of Sharekhan Financial Services Private Ltd., which is further a WOS of Sharekhan Limited. The applicant was an Indian owned and controlled company till 2006-07. In 2007-08, it became a foreign owned and controlled company, with foreign shareholding exceeding 75%. The applicant undertook mutual fund distribution from 2011-12 till 01.04.2015, after its conversion to a foreign owned company. This amounted to a contravention of Regulation 5(1)(i) read with Paragraph F.8.1 of Annex B of Schedule I of Notification No. FEMA 20/2000-RB, as foreign investment in mutual fund distribution activity was not permitted under 100% automatic route. The applicant also undertook referral activities, which was again not permitted under 100% automatic route, till the issuance of FEMA Notification No. 375/2016-RB dated 09.09.2016. The above, thus, again amounted to the contravention of Regulation 5(1)(i) read with Paragraph F.8.1 of Annex B of Schedule I of Notification No. FEMA 20/2000-RB. | 64,000,000 | 402,500 | |
| 662 | Raftaar Terminals Pvt Ltd | Apr/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 13 to 18 days (ii) 1 months to 4 months | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity and (ii) delay in submission of Form FCGPRs | The applicant, M/s. Raftaar Terminals Pvt. Ltd., was incorporated on July 21, 2014, under the Companies Act, 2013. The company is engaged in the business of build and operate in transportation, warehousing, distribution, liquid storage terminals of all types of storage system like liquid petroleum products, etc. The applicant received funds towards share application money from foreign investor viz. M/s ATS Terminals FZE. | (i) 11,64,60,635 (ii) 16,49,00,833 | 66,000 | |
| 663 | Somerset Whitefield Hospitality Pvt Ltd | Apr/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 5 months to 5 years (ii) 5 months to 5 years | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank | The applicant, M/s Somerset Whitefield Hospitality Private Limited, was incorporated on December 27, 2006. The name of the company at the time of incorporation was “Whitefield Properties Private Limited” which got changed to “Rattha Somerset Whitefield Hospitality Private Limited” on June 18, 2007. The company name got changed again to “Somerset Whitefield Hospitality Private Limited” on November 13, 2012 under the Companies Act, 1956. The company is engaged in Hospitality business. The applicant received funds towards share application money from foreign investor viz. M/s The Ascot Capital Pte Ltd., Singapore | (i) 869,14,000 (ii) 869,14,000 | 572,500 | |
| 664 | Instasafe Technologies Pvt Ltd | Apr/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 1 to 1.3 yr (ii) 1 to 1.3 yr (iii) 11 months to 1 years | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity; (ii) delay in submission of Form FCGPRs to the Reserve Bank after issue of shares to a person resident outside India (iii) refund of share application money to the foreign investor, a person resident outside India beyond 180 days of the receipt of the inward remittance | The applicant, M/s Instasafe Technologies Private Limited was incorporated on November 22, 2012, under the Companies Act, 1956. The company is engaged in the business of building products and providing services in the field of information technology, information security and technology enabled applications through cloud computing, etc. The applicant received funds towards share application money from two foreign investors, viz., Mr. Inder Singh, USA and Mr. Murali Vasan Sundarlingam, Canada | (i) 533,709 (ii) 527,467 (iii) 6,242 | 25,500 | |
| 665 | Ducen IT Private Limited | Apr/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 4.11 to 5.11 years (ii) 1.2 yr to 11.3 years (iii) 2 years | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank (iii) delay in allotment of shares | The applicant company was incorporated on February 22, 2005 under the provisions of the Companies Act, 1956 (Registration No. U72200TN2005PTC055449) and is engaged in Business of providing software support and maintenance to the clients. The applicant received foreign inward remittances from M/s.Sryas Inc., United States of America towards subscription to equity shares and reported the same to the Reserve Bank | (i) 75,32,846 (ii) 75,32,792 (iii) 70,89,882 | 162,099 | |
| 666 | Sri Abiraami Spintex P Ltd | Apr/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 10.11 to 11.2 years (ii) 1 years to 10.3 years | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The applicant company was incorporated on October 27, 2004 under the provisions of the Companies Act, 1956 (Registration No. U17111TN2004PTC054548) and is engaged in Business of Preparation and spinning of cotton fibre including blended cotton. The applicant received foreign inward remittances from (i) M/s Comwell Industry Co. Ltd., Hong Kong and (ii) M/s. Barcol Air Engineering Pvt. Ltd., Singapore towards subscription to equity shares and reported the same to the Reserve Bank | (i) 67,67,506 (ii) 113,22,060 | 211,320 | |
| 667 | Shinsung Petrochemical Private Limited | Apr/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 3 days to 4 months (ii) 1 months to 2 years | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The applicant company was incorporated on March 10, 2010 under the provisions of the Companies Act, 1956 (Registration No. U23200TN2010FTC074860) and is engaged in Business of manufacture of various other chemical products. The applicant received foreign inward remittances from M/s. Shinsung Petrochemical Co. Ltd., South Korea towards subscription to equity shares and reported the same to the Reserve Bank | (i) 709,96,892 (ii) 27,50,12,400 | 362,500 | |
| 668 | MGM Varvel Power Transmission Private Limited | Apr/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 1 days to 1.5 months (ii) 19 days to 5.5 months (iii) 2 years to 5.7 years | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank and (iii) delay in refund of excess inward remittance | The applicant company was incorporated on August 25, 2010 under the provisions of the Companies Act, 1956 (Registration No. U31103TN2010PTC077128) and is engaged in Business of manufacture of electric motors, generators, transformers and electricity distribution and control apparatus. The applicant received foreign inward remittances from (i) M/s MGM Motori Elettrici SPA, Italy and (ii) M/s.Varvel SPA, Italy towards subscription to equity shares and reported the same to the Reserve Bank | (i) 376,10,043 (ii) 13,08,00,000 (iii) 350,456 | 116,798 | |
| 669 | Trivitron Helathcare Private Limited | Apr/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 2 to 2.7 years (ii) 3 days to 2 years | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The applicant company was incorporated on May 18, 1998 under the provisions of the Companies Act, 1956 and is engaged in Business of manufacture of irradiation, electro-medical and electrotherapeutic equipment. The applicant received foreign inward remittances from (i) M/s E-Planet Ventures II L.P., Mauritius (ii) M/s.Hav2(Mauritius) Ltd., Mauritius and (iii) M/s FIL Capital Management(Mauritius) Ltd., Mauritius towards subscription to equity shares and reported the same to the Reserve Bank | (i) 37,01,91,150 (ii) 37,55,93,670 | 721,560 | |
| 670 | Malladi Drugs & Pharmaceuticals Ltd | Apr/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting & Issue of Ineligible Instruments | (i) 18 days to 2.7 months (ii) 16 days to 1 months (iii) 9 months | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares; (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank (iii) Issue of warrants (ineligible instruments) | The applicant company was incorporated on August 21, 1980 under the provisions of the Companies Act, 1956 and is engaged in Business of manufacture of medicinal substances used in the manufacture of pharmaceuticals: antibiotics, endocrine products, basic vitamins; opium derivatives; sulpha drugs; serums and plasmas; salicylic acid, its salts and esters; glycosides and vegetable alkaloids; chemically pure sugar etc. The applicant received foreign inward remittances from M/s. LOF Mauritius LLC, Mauritius towards subscription to equity shares and reported the same to the Reserve Bank. The company has allotted 919124 warrants at an exercise price of 5/- each. The applicant regularized the issue of ineligible instruments by obtaining post facto approval from FIPB with delay of nine years one month 11 days. | (i) 545,95,620 (ii) 545,98,287 (iii) 45,95,620 | 132,347 | |
| 671 | Zamil Steel Engineering India Private Limited | Apr/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 10 days to 1 years (ii) 1 days to 9 years (iii) 8.9 to 9.2 months | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank (iii) allotment of shares prior to receipt of consideration | The applicant company was incorporated on October 27, 2000 under the provisions of the Companies Act, 1956 (Registration No. U74210TN2000PTC045992) and is engaged in Business of architectural, engineering and other technical consultancy activities. The applicant received foreign inward remittances from M/s Zamil Industrial Investment Company, Saudi Arabia towards subscription to equity shares and reported the same to the Reserve Bank. The company allotted 57094 shares and 33243 shares of 100/- each prior to receipt of consideration | (i) 465,33,448 (ii) 465,21,500 (iii) 90,33,700 | 225,758 | |
| 672 | Dr Reddy's Laboratories Limited | Apr/2017 | FDI | FEMA 20/2000-RB | FDI - Issue of ESOP in contravention of provisions | 1.6 to 4.6 years | failure to obtain the specific and prior approval of the Government before issue of ESOP to person resident outside India | The applicant is a resident company incorporated on 24.02.1984 under Companies Act, 1956. The company is engaged in the business of manufacturing of pharmaceutical products. b) The applicant issued ESOPs of the company to non-resident employees without obtaining prior approval of FIPB, Government of India. The company has obtained post facto FIPB approval vide approval F. No. 47 (2016)/82 (2016) dated 02.12.2016 and F.No. 47 (2016)/82 (2016) - Amend dated 31.03.2017 subject to compounding by RBI for not obtaining approval before issuance of ESOPs. | 529,040 | 53,406 | |
| 673 | Cenerg Global Tools Pvt Ltd | Apr/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 9 days (ii) 3 -6 months | (i) delay in reporting receipt of foreign inward remittances; (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares towards subscription to equity to a person resident outside India | The applicant is a resident company incorporated on 10.02.2009.The company is engaged in the business of rock drilling and bore drilling machines. The applicant had received foreign inward remittances from overseas investors towards advance for subscription to equity shares | (i) 93,67,630 (ii) 4,43,78,770 | 74,025 | |
| 674 | Laempe Foundry Technology Pvt Ltd | Apr/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting & issue of equity shares / non refund of share aplication money | (i) 8 months to 1.9 months (ii) 6.9 years | (i) delay in reporting of receipt of foreign inward remittances (ii) neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India, within 180 days of the receipt of the inward remittance | The applicant is a resident company incorporated on 11.12.1997.The company is engaged in the manufacturing of foundry equipment. The applicant had received foreign inward remittances from overseas investors towards advance for subscription to equity shares. The company refunded the excess share application money beyond 180 days from the date of receipt of remittance | (i) 11,06,522 (ii) 6,306 | 20,489 | |
| 675 | Essar Oil Ltd | Apr/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting & issuance of GDRs | (i) 1.5 to 2 years (ii) 1.3 years | (i) the equity instruments were issued to the foreign investor, beyond 180 days of the receipt of the inward remittance (ii) delay in reporting receipt of foreign inward remittance towards subscription to equity | The applicant company was incorporated on September 12, 1989 under the Companies Act, 1956 and is engaged in the business to engage in exploration of oil and gas onshore and offshore, in India and elsewhere and to tap oil and gas reserves and processing and marketing of oil, gas in India or elsewherever found. The applicant received foreign inward remittance from M/s Essar Energy Holding Limited, Mauritius towards GDR (Global Depository Receipts) issues and reported the same to the Reserve Bank. The applicant stated that the company could not proceed with the proposed GDR issue due to certain clarifications raised by SEBI for previous GDR issues as well as due to changes in DR (Depository Receipts) guidelines issued by Government of India. The applicant further stated that the company approached Reserve Bank of India, Central Office, on May 11, 2016 for refund of advance and receiving it back towards issuance of equity.The allotment of shares made on February 10, 2017 amounting to Rs.1500,52,76,640/- was made after 180 days of receipt of remittances with the approval of Reserve Bank. The company approached Reserve Bank of India, Mumbai Regional Office, on January 03, 2017 for specific approval to issue shares against the advances received as above. The Reserve Bank vide letter dated January 17, 2017 accorded approval for issuance of shares | (i) 15,00,52,76,640 (ii) 254,13,88,250 | 2,411,630,941 | |
| 676 | Dani Instruments India Pvt Ltd | Apr/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 15 days to 5.3 years (ii) 12 days to 1 years | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company was incorporated on August 19, 2010 under the Companies Act, 1956 and is engaged in the business of design, manufacture, development, assembly, commercialisation, distribution, import, export, market, trade and deal in all instruments and products, appliances, equipments, materials, consumerables and all such other products dedicated to the analysis of chemical compounds in different matrices in India. The applicant received foreign inward remittance from M/s Dani Instruments S.P.A. Italy, towards equity / preference share capital and reported the same to the Reserve Bank | (i) 45,43,138 (ii) 99,36,956 | 39,000 | |
| 677 | Lupin Limited | Apr/2017 | FDI | FEMA 20/2000-RB | FDI - Issue of ESOP without FIPB Approval | 4.3 years | issue of ESOPs to Non Resident Employees, without prior approval of FIPB | The applicant company was incorporated on March 01, 1983 under the Companies Act, 1956 as M/s Lupin Chemicals Pvt. Ltd., thereafter name was changed as M/s Lupin Chemicals Ltd. on December 23, 1991. Finally, name was again changed to M/s Lupin Ltd. on August 02, 2001. The main activity of the applicant is to manufacture, produce, formulate, process, refine, finish, recover, extract, buy, sell, export, import, distribute and deal in chemicals of all kinds, organic or inorganic, including acids,and a host of other things. The Company had provided Options and allotment of shares in terms of Reg. 8 of Notification 20/2000-RB dated May 03, 2000 amounting to Rs 92.05 crores, i.e. under “ESOP Scheme” to its non-resident employees. The company approached FIPB on August 27, 2015 for post facto approval for issue of shares under ESOP and obtained amended FIPB approval on March 28, 2016 with a delay of 4 years 3 months and 19 days . FIPB has further stated that government approval is required at the time of issuance of ESOPs and not at the time of grant of shares when the option is exercised. The company has issued ESOPs amounting toRs 92.05 crores between December 09, 2011 and June 06, 2015. However the actual remittance against the exercise of these ESOPs is Rs 1.48 crores . | 14,800,000 | 153,600 | |
| 678 | Deesan Cotex Pvt Ltd | Apr/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 4 months (ii) 19 days to 4 months | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company was incorporated on February 13, 2007 under the Companies Act, 1956 and is engaged in the business as manufacturers, exporters, importers, distributers, traders, commission agents and dealers in all kinds of Yarns, textiles, readymade garments, stitching, tailoring, processing, spinning, weaving and coverage, cloths, furnishings, fabrics, other textiles, sarees, dresses, outfitters and hosiery goods whether made of cotton, nylon, teryline, silk, artsilk, rayon, wool, linen, jute, hemp, polyester, viscose, yari threat or feather and the business of carpet makers whether made of wool, rayon cotton or jute whether natural or artificial blend of nature or artificial fibres. The applicant received foreign inward remittance from Mr. Ashish Nanda, Dubai, UAE, towards equity / preference share capital and reported the same to the Reserve Bank | (i) 125,00,000 (ii) 975,00,000 | 120,000 | |
| 679 | Mavi Business Ventures , LLP | Apr/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 11 months to 1.2 years (ii) 19 dy to 2 months (iii) 5 to 7 months | (i) neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India within 180 days of the receipt of the inward remittance (ii) delay in reporting receipt of foreign inward remittance towards subscription to equity (iii) Issue of ineligible instrument such as convertible debentures, partly paid shares, shares with optionality clause, etc, | The applicant received foreign inward remittance from M/s I-square Global PE Fund, Mauritius, towards equity / preference share capital and reported the same to the Reserve Bank It is observed that the company had issued Optionally Convertible Debentures in 2014. As OCDs areineligible instruments in terms of Regulation 2(ii) and Sch I of FEMA 20, the company cancelled the allotment of OCDs on January 20, 2015. After the cancellation of the allotment of OCDs, the company renegotiated with the foreign investor company and agreed to issue equity shares and approached Reserve Bank for Specific Approval for issuance of equity shares on October 30,2015 against the remittances received on February 20 and June 09, 2014. Reserve Bank accorded approval for the same on February 01, 2016. | (i) 13,32,65,000 (ii) 11,54,69,000 (iii) 13,31,00,000 | 1,255,295 | |
| 680 | Sierra Med-It India Pvt Ltd | Apr/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 25 days to 4 months (ii) 4 months to 6.5 months | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company was incorporated on April 30, 2015 under the Companies Act, 1956 and is engaged in the business of providing consultancy primarily for the Healthcare Industry to empower hospitals with the right technology covering the areas of Information Systems, Mobility, Systems Integration, Outsourcing and Cloud Computing and professional services in the areas of IT. The applicant received foreign inward remittance from M/s Sierra Solutions Pte. Ltd., Singapore towards equity / preference share capital and reported the same to the Reserve Bank | (i) 92,30,357 (ii) 161,32,990 | 77,000 | |
| 681 | Parker Hannifin India Pvt. Ltd. | Apr/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i)7 months (ii) 1-2 months (iii) 29 days to 4 months | (i) neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India within 180 days of the receipt of the inward remittance, (ii) delay in reporting receipt of foreign inward remittance towards subscription to equity (iii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company was incorporated on January 17, 1989 under the Companies Act, 1956 and is engaged in the business of manufacturing, designing,dealing in every and all types of hydraulic, hydraulic steam, chemical, pneumatic and special application cylinders, pumps, metal and elastromeric seals,etc. The applicant received foreign inward remittance from M/s Parker Hannifin Singapore Pte. Ltd., Singapore towards equity / preference share capital and reported the same to the Reserve Bank. The allotment of shares amounting to Rs.10,67,43,000/- received on March 12, 2014 was made after 180 days of receipt of investment with the approval of Reserve Bank. The company approached Reserve Bank of India for specific approval on April 16, 2015 and Reserve Bank vide letter dated July 06, 2015 accorded approval for issuance of shares. | (i) 10,67,43,000 (ii) 34,01,65,242 (iii) 413,23,57,400 | 670,229 | |
| 682 | Dentsu India Pvt Ltd. | Apr/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 4.4 years (ii) 12.8 years | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company was incorporated on August 25, 2003 under the Companies Act, 1956 as M/s Dentsu Communications Private Limited and the name was changed to M/s Dentsu India Private Limited on July 19, 2016. It is engaged in India and abroad in the business of advertising, media planning, media buying and media and consultancy in connection with any industry. The applicant received foreign inward remittance from M/s Dentsu Inc, Japan towards equity / preference share capital and reported the same to the Reserve Bank | (i) 125,00,000 (ii) 370,00,000 | 870,000 | |
| 683 | LPS-Ejot Fastening Systems Private Limited | Apr/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 3 months to 2 years (ii) 5 months to 1.9 years | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of form FCGPR after allotment of shares | The applicant company was incorporated under the Companies Act, 1956 on January 1, 2014 and allotted registration No. U28112HR2014PTC051722 by Registrar of Companies. The company is engaged in the business of manufacturing metal fasteners. The company had received a total of 7 foreign inward remittances from March 3, 2014 to December 21, 2016 for issue of equity shares, out of which, on 3 occasions the company had reported inward remittances with a delay | (i) 75,48,876 (ii) 75,50,000 | 44,885 | |
| 684 | VFS Global Services Private Limited | May/2017 | ODI | FEMA 120/RB-2004 | In terms of Regulation 6(2)(ii) of Notification No.FEMA.120/2004-RB dated July 07, 2004 as amended from time to time, “an Indian party is permitted to make Overseas Direct Investment in certain cases, provided the direct investment is made in an overseas JV or WOS engaged in a bonafide business activity”. Regulation 6(2)(vi) of Notification No.FEMA.120/2004-RB dated July 07, 2004 as amended from time to time, an Indian Party is permitted to make direct investment in a Joint Venture or a Wholly Owned Subsidiary outside India, provided, “The Indian Party submits duly completed Part I of the Form ODI, as prescribed by the Reserve Bank from time to time, to the designated branch of an Authorized Dealer”. Regulation 16(2) of Notification No.FEMA.120/2004-RB dated July 07, 2004 as amended from time to time, states that, post transfer by way of sale of shares of a JV/WOS outside India, “sale proceeds of shares/securities shall be repatriated to India immediately on receipt thereof and in any case not later than 90 days from the date of sale of the shares/securities and documentary evidence to this effect shall be submitted to the Regional office of the Reserve Bank through the designated authorized dealer”. | 4 years to 8 years | (i) undertaking a nonbonafide business activity, Issue2 delay in reporting in Form ODI PartI (iii) delay in reporting of disinvestment | It is engaged in the business of providing services of travel documentation, passport and visa processing facilitation etc., and other related services. The restructuring pursuant to the amalgamation was reported through the Form ODI with a delay beyond the stipulated time period, thus contravening Regulation 6(2)(vi) of Notification No. FEMA 120/2004-RB. | 665,000 | 698,714 | |
| 685 | Uma Polymers Limited | May/2017 | ODI | FEMA 120/RB-2004 | ODI - Delay in Reporting | 4 to 5 years | delayed reporting of corporate guarantees extended to overseas entity | It was engaged in the business of manufacturing flexible packaging materials. UPL had also extended three corporate guarantees which the company did not report within the prescribed time period of 30 days in contravention of Regulation 6(2)(vi) of Notification No. FEMA 120/2004-RB dated July 7, 2004. | 1,56,870 lacs | 609,809 | |
| 686 | Alembic Pharmaceuticals Limited | May/2017 | ODI | FEMA 120/RB-2004 | ODI- Non Compliance of Provision | le than 1 years | issuance of standby letters of credit (SBLCs) to its first level step down overseas subsidiary | The applicant is primarily engaged in the business of manufacturing pharmaceutical products. In terms of Regulation 6(2)(g) of Notification No. FEMA 120/2004 dated July 07, 2004 as amended a resident bank can issue bank guarantee on behalf of the overseas JV/WOS of an Indian Party, the applicant issued two SBLCs of USD 2.9 million and USD 2.1 million on December 17, 2015 in favour of its first level step down subsidiary in Algeria thereby contravening the said FEMA Regulation. | 3,340 crores | 1,720,000 | |
| 687 | Laxmi Diamond Private Limited | May/2017 | ECB | FEMA 3/2000-RB | Contravention of Provisions of FEMA | 1 years to 2 and a half years | (i) nonrepayment of foreign currency credit extended by the overseas supplier of goods, for a period exceeding six months | The Company is engaged in the business of exports, imports, manufacture etc. of diamonds, gold, silver, precious and semi-precious stones and jewellery of any kind. The applicant had made certain imports. RBI gave approval for repayment of the foreign currency credit beyond 180 days. In terms of Regulation 5 (3) of Notification No.FEMA.3/2000-RB dated May 03, 2000 as amended from time to time "An importer in India may, for import of goods into India, avail of foreign currency credit for a period not exceeding six months extended by the overseas supplier of goods....”. | 996,231,306 | 5,538,342 | |
| 688 | Noble Tech Industries Private Limited | May/2017 | FEMA -Borrowing & Lending in Rupees Regulations 2000 | FEMA 4/2000-RB | Contravention of Provisions of FEMA | 4 months and 8 and a half years | (i) raising loan from NonResident Indian (NRI) promoter shareholder through unsecured borrowings and without using the requisite public offer route involving investment in nonconvertible debentures (ii) making part repayment of the loan amount before the expiry of three years, | The applicant is engaged in the business of manufacturing steel. The applicant availed unsecured loans from a non-resident Indian (NRI), Mrs. Ameena Begum residing at Abu Dhabi, who is one of the major shareholders of the applicant. The applicant made repayments of loan amount prior to expiry of the minimum maturity period of three years. | 924,874,894 | 34,273,470 | |
| 689 | Supreme Treon Private Limited | May/2017 | ODI | FEMA 120/RB-2004 | ODI- Delay in submissions | May 2009 to March 2015 | delay in submission of Annual Performance Reports (APRs) of the overseas entity | The applicant is engaged in the business of manufacture and supply of automotive trim components such as moulded carpets, lateral trims, bonnet and roof liners for automobile industries in India and abroad. The applicant, neither reported the creation of joint venture in Thailand nor applied to the Reserve Bank of India for capitalization of export proceeds. The share certificates were received in April 2013 and the investment was reported to the Reserve Bank of India in March 2015 and UIN BYJAZ20150955 was issued. Subsequently, the APRs for the years 2009-2015 were filed with the Reserve Bank of India on January 6, 2016. | 6,081,828 | 165,600 | |
| 690 | Intercode Solutions Private Limited | May/2017 | ODI | FEMA 120/RB-2004 | ODI- Non Compliance of Provision | (i) 1 years 06 months to 02 years 05 months. (ii) 01 years 05 months (iii) 4 years | (i) delayed reporting of remittances made to overseas entity in the prescribed form to the Reserve Bank of India (RBI); (ii) non receipt of share certificate in respect of the overseas investments within the prescribed period and (iii) delay in submission of Annual Performance Reports | The applicant is engaged in the business of manufacturing of self-adhesive labels. In September 2010, another group company, Interlabels Industries Private Limited, had invested in a joint venture (JV) in Bangladesh viz., Interlabels Robust Bangladesh Private Limited (hereinafter referred as ’JV’). In the year 2012, the name of the Indian company, Interlabels Industries Private Limited, was changed to Skanem Interlabels Industries Private Limited. The Indian company transferred its Barcode business to the applicant on February 02, 2012 thereby disinvesting its stake in the JV and transferring the same to the applicant. The applicant undertook the following transactions without submitting Form ODI - I within the prescribed period in contravention of Regulation 6(2)(vi) | (i) 170,96,262 (ii) 25,000 | 199,325 | |
| 691 | Coastal Corporation Limited | May/2017 | ODI | FEMA 120/RB-2004 | ODI- Non Compliance of Provision | 6 months to 8 months | (i) Delay in filing Form ODI and making overseas remittance without obtaining UIN | The applicant is engaged in the business of producing and exporting high quality aquaculture seafood products. A Wholly Owned Subsidiary (WOS) of the applicant company, namely, Seacrest Seafoods Inc., was incorporated in USA on November 04, 2015.The applicant company made the Overseas Direct Investments in the WOS | 11,728,150 | 108,641 | |
| 692 | Mindtree Limited | May/2017 | ODI | FEMA 120/RB-2004 | ODI- Non Compliance of Provision | 4 to 5 years | (i) disinvestment of stake in its Wholly Owned Subsidiary (WOS) (with writeoff), without submission of Annual Performance Reports (APRs) due, under the automatic route and Issue2 nonsubmission of Annual Performance Reports (APR) within the stipulated time period. | The applicant is engaged in the business of software development, production, sub-contracting and experts, systems engineering services and training, management consulting etc. The applicant set-up a WOS, Mindtree Software (Shenzhen) Co. Ltd. in China, on November 18, 2009, and remitted USD 500,000 to the WOS on January 15, 2010. The WOS was liquidated on August 01, 2012. The disinvestment proceeds to the extent of USD 321,076 were repatriated and USD 178,924 were written off. The disinvestment was reported with a delay, on July 15, 2016, and was also carried out without the submission of the APRs for the years 2010 and 2011, thus contravening Regulation 16(1)(v) of Notification No. FEMA 120/2004-RB dated July 7, 2004 as amended from time to time. The Annual Performance Reports (APRs) for the years 2010 and 2011 were submitted with a delay beyond the stipulated time period, thus contravening Regulation 15(iii) of the same Notification. | 23,045,000 | 231,315 | |
| 693 | MKU Holdings Private Limited | May/2017 | ODI | FEMA 120/RB-2004 | ODI- Non Compliance of Provision | 2 years to 10 years | (i) nonrepatriation of interest due on loans within the stipulated time period and (ii) Nonsubmission of Annual Performance Reports (APR) within the stipulated time period | The applicant is engaged in the business of an investment company, trading and dealing in shares, debentures, stocks etc.The amounts were to be repatriated within the stipulated time period of 60 days of their falling due. However, the above amounts were written off on 31.12.2009, thereby contravening Regulation 15(ii) . The Annual Performance Reports (APRs) for the years 2007-2013 were submitted with a delay beyond the stipulated time period. | 31,580,244 | 356,852 | |
| 694 | Crown Worldwide Movers Private Limited | May/2017 | ECB | FEMA 3/2000-RB | B/L- Non Compliance of Provision | 3 years to 8 years | Delay in making payment of invoices without prior approval of RBI | The applicant is engaged in the business of record management services, relocation, world mobility and fine arts. It had regularly been importing goods and services relating to software maintenance and scanning device from overseas supplier namely, Moonrich Solutions Limited, Hong Kong.Due to deteriorating financial position and misplacement of records, the applicant did not make payment of invoices amounting to USD 670,051 (Rs.4,55,63,468/-) which remained outstanding beyond period of 3 years. | 45,563,468 | 363,248 | |
| 695 | UTstarcom Inc – MTNL CPE Project Office | May/2017 | Establishment of BO/LO/PO in India | FEMA 22/2000-RB | To establish branch or Liaison Office undertaking activity not approved by RBI | 3 to 4 years | Failure to obtain prior approval of RBI to carry on the transactions of Interproject transfer of funds and also to branch office | The applicant is UTStarcom Inc., a company incorporated in United States of America and is engaged in the business of manufacturing and supply of telecommunication and broadband equipment and IPTV equipment. The applicant's Project Office transferred certain funds to UTStarcom Inc.–Branch Office and also received funds from another project office i.e. UTStarcom Inc–BSNL Multiplay Project Office, as detailed below, without obtaining prior approval of the Reserve Bank. | 184,742 | 30,800 | |
| 696 | UTstarcom Inc – Branch Office | May/2017 | Establishment of BO/LO/PO in India | FEMA 22/2000-RB | To establish branch or Liaison Office undertaking activity not approved by RBI | 6 to 11 years | (i) Failure to obtain prior approval of RBI for carrying out transfer of funds to/from project offices Issue2 Obtaining approval to open a Head Office Account in the books of branch office in India | The applicant is engaged in the business of manufacturing and supply of telecommunication and broadband equipment and IPTV equipment.The captioned Branch Office had transferred and received certain funds to/from project offices of the applicant i.e. UTStarcom Inc–BSNL Multiplay Project Office, UTStarcom Inc-BSNL 2.1 and 2.2 Project Office and UTStarcom Inc-MTNL CPE Project Office, without obtaining prior approval of the Reserve Bank. | 12,192,000 | 121,400 | |
| 697 | Kalinga Hospital Limited | May/2017 | FDI | FEMA 20/2000-RB | FDI - Non compliance of provisions | (i) 6 years (ii) 8 years 6 months | (i) acquisition of equity shares of the applicant by an Overseas Corporate Body (OCB) from a resident Indian shareholder without the prior approval of the Reserve Bank of India (RBI) (ii) refund of share application money beyond the prescribed period of 180 days | The applicant is engaged in the business of establishing & running hospitals, nursing homes etc. Equity shares of the applicant amounting to Rs.6,00,00,000/- (listed under Table A) were acquired by HCO, Inc. from Industrial Promotion and Investment Corporation of Orissa Limited (IPICOL), an Indian entity, without the prior approval of the RBI in contravention of Regulation 10(A)(b) of Notification No. FEMA 20/2000-RB. An amount of Rs.3,43,06,734 was received by the applicant as foreign inward remittance from HCO, Inc. against which shares were allotted for Rs. 3,42,25,430 only and the balance amount of Rs.81,304/- was refunded by the applicant on August 09, 2010. The applicant thus refunded the excess share application money beyond the prescribed period of 180 days from the date of receipt of the investment without obtaining RBI approval in contravention of Paragraph 8 of Schedule I to Notification No. FEMA 20/2000-RB. | (i) 600,00,000 (ii) 81,304 | 588,568 | |
| 698 | Reve Systems India Private Limited | May/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 2 years 7 months (ii) 5 years (iii) 2 years | (i) delay in issue of equity shares beyond the stipulated time period (ii) delay in reporting of inward remittances beyond the stipulated time period and (iii) Receipt of inward remittances from Bangladeshi nationals without seeking prior approval from FIPB. | The applicant is engaged in the development and sale of system software and providing consultancy on web related business. The applicant received foreign inward remittances for issue of equity shares from foreign investors. The reporting of the remittances were made beyond the period of 30 days from the date of receipt of considerartion.The allotment of shares for the above remittances received was done with a delay beyond the stipulated time period of 180 days. RBI vide its letter dated July 15, 2015 gave approval for issue of shares for Rs.1,03,000. As the shares were allotted only for Rs.1,00,000, the unutilized amount of Rs.3000 was written off with the consent of the foreign investor as permitted by RBI vide mail dated February 22, 2016. The remittances as mentioned above were received from Bangladeshi Nationals without seeking prior approval from Foreign Investment Promotion Board. | (i) 103,000 (ii) 100,000 (iii) 103,000 | 93,733 | |
| 699 | Signure Technologies Private Limited | May/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | 6 to 54 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares | The applicant was incorporated on November 27, 2007 under the Companies Act, 1956 and deals in information technology and computer service activities. The applicant received inward remittances from foreign investors under automatic route and reported the same to Reserve Bank of India beyond the period of 30 days from the date of receipt of consideration | 8,118,150 | 25,000 | |
| 700 | Uber9 Business Process Services Private Limited | May/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 2 days to 1 years 6 months 23 days (ii) 1 months 8 days to 11 months 20 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) Delay in submission of Form FCGPR on allotment of shares with RBI | The applicant is engaged in business of management consultancy services in relation to legal activities.The applicant received foreign inward remittances from foreign investors..Further the applicant submitted form FC-GPR beyond the period of 30 days from the date of issue of shares to the person resident outside India. | (i) 10,82,83,558 (ii) 163,23,536 | 124,275 | |
| 701 | Pan Asia HR Solution (P) Limited | May/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 1 days to 2 months 16 days (ii) 3 days to 4 months 26 days (iii) a) 5 days to 3 months b) 7 months 2 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) Delay in submission of Form FCGPR on allotment of shares with RBI (iii) Delay in refund of excess inward remittance | The applicant is engaged in Business of human resources provision and management of human resources functions. .The applicant received foreign inward remittances from foreign investors..Further the applicant submitted form FC-GPR beyond the period of 30 days from the date of issue of shares to the person resident outside India. | (i) 17,68,872 (ii) 14,00,000 (iii) a) 770000 b) 25927 | 82,690 | |
| 702 | Chennai Ferrous Industries Limited | May/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | 1 years and 1 months | Delay in submission of Form FCGPR on allotment of shares with RBI | The applicant is engaged in Business of manufacture of direct reduced iron and other spongy ferrous products in primary forms; other than in the integrated steel plants.The applicant received foreign inward remittances from foreign investors..Further the applicant submitted form FC-GPR beyond the period of 30 days from the date of issue of shares to the person resident outside India. | 6,405,130 | 17,560 | |
| 703 | Palani Hills Garden Hotel Pvt Ltd | May/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 25 days to 6 years 2 months 1 days (ii) 5 years 7 months 10 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) Delay in submission of Form FCGPR on allotment of shares with RBI (iii) Delay in refund of excess inward remittance | Th applicant is engaged in Business of hotels and motels, inns, resorts providing short term lodging facilities includes accommodation in house boats.The applicant received foreign inward remittances from foreign investors..Further the applicant submitted form FC-GPR beyond the period of 30 days from the date of issue of shares to the person resident outside India. | (i) 257,56,365 (ii) 257,56,280 | 292,260 | |
| 704 | Take Solutions Limited | May/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 24 days to 8 months 17 days (ii) 21 days to 2 years 4 months 21 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) Delay in submission of Form FCGPR on allotment of shares with RBI | The applicant is is engaged in business of Computer programming, consultancy and related activities.The applicant received foreign inward remittances from foreign investors..Further the applicant submitted form FC-GPR beyond the period of 30 days from the date of issue of shares to the person resident outside India. | (i) 115,75,19,897 (ii) 117,99,40,230 | 382,170 | |
| 705 | Srinala Leathers India Pvt Ltd | May/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 2 days to 15 years 2 months (ii) 13 days to 8 years 21 days (iii) 8 months 29 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) Delay in submission of Form FCGPR on allotment of shares with RBI (iii) Delay in refund of excess inward remittance | The applicant is engaged in Business of wholesale trade in hides, skins and leather. The applicant received foreign inward remittances from foreign investors..Further the applicant submitted form FC-GPR beyond the period of 30 days from the date of issue of shares to the person resident outside India. | (i) 2,78,39,923 (ii) 2,54,33,250 (iii) 52,960 | 157,076 | |
| 706 | Panasonic Appliances India Company Limited | May/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | 1 months 3 days to 4 months 9 days | Delay in submission of FCTRS | The applicant is is engaged in Business of manufacture of domestic appliances.Accordingly Panasonic Japan has transferred the money to an escrow account opened for the purpose. Panasonic Japan has also provided a 12-month exit window to the shareholders in accordance with the Delisting Regulations. The amount was transferred from the escrow account to the individual shareholders on the date of transfer. During the said period Panasonic Japan acquired shares on a monthly basis and the relevant FC TRS were filed with the AD Bank. Five of the form FC TRS for transfer of shares were submitted beyond the period of 60 days from the date of receipt of amount of consideration. | 13,250,980 | 13,740 | |
| 707 | M/s. Insight Medical Diagnostics Hyderabad Pvt. Ltd. | May/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 16 days to 1 months 9 days (ii) 4 months 20 days to 7 months 6 days | Issue1 delay in reporting receipt of foreign inward remittance towards subscription to equity; and Issue2 delay in submission of Form FCGPRs | The company is engaged in the business of providing whole spectrum of radiological reporting services to hospitals and diagnostic centres located in India and outside India through international technology.The applicant had received foreign inward remittances from overseas investors towards advance for subscription to equity shares.Further the applicant submitted form FC-GPR beyond the period of 30 days from the date of issue of shares to the person resident outside India. | (i) 80 Lacs (ii) 120 lacs | 715,190 | |
| 708 | Pomelo Infra Projects Private Limited | May/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 1 years 1 months 28 days to 2 years 6 months 19 days (ii) 1 months 2 days to 1 years 9 months 19 days | Issue1 delay in reporting receipt of foreign inward remittance towards subscription to equity; and Issue2 delay in submission of Form FCGPRs | The company is engaged in the business to carry on the business of builders, developers, real estate agents and contractors for construction or demolitions work of any kind, and to purchase or otherwise acquire lands, houses offices, workshops, buildings and premises for the purpose of that business.The applicant had received foreign inward remittances from overseas investors towards advance for subscription to equity shares.Further the applicant submitted form FC-GPR beyond the period of 30 days from the date of issue of shares to the person resident outside India. | (i) 14,23,76,682 (ii) 28,41,63,060 | 30,370 | |
| 709 | Marchmont International Finance Limited | Jun/2017 | FDI | FEMA 20/2000-RB | Contravention of Regulation | (i) more than 10 years (ii) more than 9 years (iii) 6 years (iv) more than 9 years Iue 5 more than 7 years. | (i) undertaking investments by debit to NRO account without furnishing the necessary undertaking to the AD bank (ii) undertaking transactions on the stock exchanges in India through broker without specific permission of the RBI (iii) undertaking the secondary market transactions under the portfolio investment scheme although neither being an FII registered with SEBI nor being an NRI (iv) acquisition of the shares of the Indian companies by debit to its NRO account (v) acquisition of the shares of an Indian entity engaged in financial sector activity without obtaining the necessary NOC from RBI | It is engaged in the business of investment holding activities and provision of consultancy services. MIFL opened an NRO account with HSBC bank and made remittances to the said NRO account. MIFL undertook investments by debit to NRO account without furnishing the necessary undertaking to the AD bank thereby contravening the said FEMA Regulation. MIFL undertook transactions on the stock exchanges in India through broker without specific permission of the RBI in this regard thereby contravening the said FEMA Regulations. MIFL, neither being a FII registered with SEBI nor being an NRI, was not eligible to undertake the secondary market transactions under the portfolio investment scheme specified in Schedule 2 and 3 of FEMA 20/2000-RB. MIFL thus by undertaking such transactions involving shares of IIFL contravened Regulation 5(2) read with Regulation 5(3) of FEMA 20 /2000-RB. MIFL acquired the shares of the Indian companies by debit to its NRO account thereby contravening the said FEMA Regulation. MIFL acquired the shares of ICICI Bank Limited without obtaining the necessary NOC from RBI thereby contravening the said FEMA Regulation. | (i) 248,40,760 (ii) 248,40,760 (iii) 215,92,960 (iv) 248,40,760 (v) 444,485 | 18,978,115 | |
| 710 | UBS (India) Private Limited | Jun/2017 | FDI | FEMA 20/2000-RB | Paragraph F.8.2(1)(iii) of Annexure B of Schedule I of Notification No. FEMA 20/2000-RB specifies the minimum capitalization norms subject to which foreign investment in NBFC is allowed under the automatic route. It specifies the same as “US $ 50 million for foreign capital more than 75% out of which US $ 7.5 million to be brought up front and the balance in 24 months.” Paragraph 9(2) of Schedule I of the same Notification, as then applicable, stated that, “All Indian companies which have received Foreign Direct Investment in the previous year(s) including the current year shall submit to the Reserve Bank of India, on or before the 15th day of July of each year, a report titled ‘Annual Return on Foreign Liabilities and Assets’ in the form specified in Annex E to this Schedule.” | (i) 4 months (ii) years 2007-2010 | (i) delay in meeting the minimum capitalization norms beyond the stipulated time period (ii) delay in filing the statement of Annual Return on Foreign Liabilities and Assets beyond the stipulated time period | The applicant is engaged in the business of investment banking activities including merchant banking, portfolio management, research in various investment opportunities etc. On account of foreign holding thus reaching 100%, the applicant required to be capitalized to the extent of USD 50 million. According to Paragraph F.8.2(1)(iii), specifying the minimum capitalization norms, the applicant was required to be capitalized to the extent of USD 7.5 million upfront, i.e., on July 6, 2007, with the balance USD 42.5 million to be brought in within 24 months, i.e., by July 5, 2009. However, the applicant was capitalized only to the extent of USD 5 million on July 6, 2007, with the remaining USD 2.5 million being brought in only on November 7, 2007, with a delay of 4 months beyond the stipulated time period. Further, the applicant submitted the Annual Return on Foreign Liabilities and Assets statement for the years 2007-2010 only on October 14, 2016, thereby contravening Paragraph 9(2) of Schedule I of Notification No. FEMA 20/2000-RB. | 2,239,299,000 | 11,286,495 | |
| 711 | Batliboi Limited | Jun/2017 | ODI | FEMA 120/RB-2004 | ODI - Delay in Reporting | (i) 9 and a half years Iue2 | (i) making overseas direct investment in an entity which had preexisting foreign direct investment Issue2 nonreporting of setting up of stepdown subsidiary within the stipulated time period (iii) nonsubmission of Annual Performance Reports (APR) within the stipulated time period | The applicant is engaged in the business of import and export of machinery of all kind, spare parts and accessories etc. The Applicant made investments in AESA Air Engineering SA, France. AESA Air Engineering S.A., France, already had a pre-existing investment in AESA Air Engineering Private Limited, India. The investments, thus, amounted to making an overseas investment in a company having an investment in India, and were in contravention of Regulation 6(2)(ii) of Notification No. FEMA 120/2004-RB. Further, the applicant invested (directly or through acquisition) in step-down subsidiaries (SDS). The abovementioned investments were reported with a delay beyond the stipulated time period. The Annual Performance Reports (APRs) for the years 2010, 2011, 2012 and 2014 were submitted with a delay beyond the stipulated time period of 30 days. | 81,916,668 | 3,698,458 | |
| 712 | Cisco Systems (India) Private Limited | Jun/2017 | ECB | FEMA 3/2000-RB | Breach of provisions | 5 years to 15 years | borrowing in foreign exchange from its group companies abroad without meeting the stipulated conditions, | The applicant is engaged in the business of providing software development services to overseas Cisco Group affiliates, additionally provides technical support services, marketing support services, administrative/ other support services etc., to various Cisco group affiliates. The amounts in relation to the transactions remained outstanding beyond the stipulated time period. The payments since remitted to the group companies, on January 19, 2017, amounted to external commercial borrowings, thereby contravening Regulation 3 read with Schedule I of Notification No. FEMA 3/2000-RB. | 3,845,960,000 | 28,790,980 | |
| 713 | Immortal Life Sciences Private Limited | Jun/2017 | ODI | FEMA 120/RB-2004 | Contravention of Provisions of FEMA | 70 days | delayed reporting of three remittances to Reserve Bank of India (RBI) | The applicant opened a bank account in UAE in the name of Immortal Life Sciences Private Limited as formation of wholly owned subsidiary (WOS), required proof of share capital from any bank operating in UAE. The certificate of incorporation was later issued on 30.9.2012. The same bank account name was changed to Immortal Life Sciences FZ LLC by the bank on incorporation of the WOS. Consequent to the delay in formation of the WOS, there was delay in issue of share certificates which were formally signed on issue of certificate of incorporation of the WOS and there was a delay in issue of shares. The applicant, being the parent company, has sent three remittances abroad to fund the operations to be carried out by the WOS. The applicant delayed reporting the three remittances to Reserve Bank of India (RBI) within the prescribed period. | 753,282,725 | 80,000 | |
| 714 | Strides Shasun Limited | Jun/2017 | ODI | FEMA 120/RB-2004 | ODI - Delay in Reporting | (i) 9 years (ii)le than 1 years | (i) the amount repatriated on disinvestment is less than the original investment without submitting the Annual Performance Report (APR) together with the audited accounts for that year to the reserve Bank Issue2 proceeds of disinvestment of shares of Austin Shasun LLC, USA, were repatriated beyond 90 days (iii) nonsubmission of APRs for the years 200506 and 200607. | The applicant is engaged in the business of manufacture of pharmaceuticals. The applicant disinvested the shares by dissolving the JV (Austin Shasun LLC, USA) at the amount less than the original investment without submitting the APR together with audited accounts for that year to Reserve Bank. The proceeds of disinvestment of shares of Austin Shasun LLC, USA, were repatriated by the applicant beyond 90 days and not submitted the APRs for the years 2005-06 and 2006-07, thus contravening the provision of regulation 16(1)(V), 16(2) and 15 (iii) of Notification No FEMA 120-RB 2004). | (i) 10,24,887 (ii) 111,933 (iii) 20,000 | 128,247 | |
| 715 | Alkem Laboratories Limited | Jun/2017 | ODI | FEMA 120/RB-2004 | ODI - Delay in Reporting | 10 days to 2 years | (i) issuance of SBLC on behalf of first level step down subsidiary under automatic route Issue2 receipt of share certificate beyond the stipulated time period of six months (iii) delay in submission of Annual Performance Report (APR), beyond the stipulated time period. | The applicant is engaged in the business of manufacturing and distribution of pharmaceuticals, cosmetics, beauty-aids and related products. SBLCs were issued on behalf of the first level step-down subsidiary of the applicant, without the prior approval of the Reserve Bank of India. The above issuance of SBLCs without the prior approval of RBI was in contravention of Regulation 6(2)(i)(g) of Notification No. FEMA 120/2004-RB, which permits issuance of SBLCs in automatic route only on behalf of JV/WOS. The receipt of share certificate beyond six months from the date of investment amounted to contravention of Regulation 15(i) of Notification No. FEMA 120/2004-RB. The applicant did-not submit the Annual Performance Reports (APRs) for the years 2010, 2011, 2012, 2014 and 2015 within the stipulated time period, thus contravening the provisions of Regulation 15(iii) of Notification No. FEMA 120/2004-RB. | 5,679,591,500 | 26,508,512 | |
| 716 | Aurionpro Solutions Limited | Jun/2017 | ODI | FEMA 120/RB-2004 | ODI - Delay in Reporting | (i) 2 years and 6 months (ii)2 years and 3 months | (i) the amount repatriated on disinvestment is less than the fair value of the JV under automatic route Issue2 proceeds of disinvestment were repatriated after 90 days (iii) Delay in APRs | The applicant is engaged in the business of providing solutions in corporate banking, treasury, fraud prevention and risk management, internet banking, governance and compliance. The applicant disinvested the shares by dissolving the JV (Intellivisions Arabia FZC) at the amount less than the fair value of the JV and reported to the Bank on July 22, 2016. The proceeds of disinvestment of shares of Intellivisions Arabia FZC were repatriated by the applicant beyond 90 days and delayed submission of the APRs for the years 2011-12 and 2012-13, thus contravening the provision of regulation 16(1)(iii), 16(2) and 15(iii) of Notification No FEMA 120-RB 2004). Regulation 15(iii) of the said notification requires that the IP to submit to the Reserve Bank, through the designated Authorised Dealer, every year on or before a specified date, an Annual Performance Report (APR) in Part III of Form ODI, as prescribed by the Reserve Bank from time to time, in respect of each JV or WOS outside India, and other reports or documents as may be prescribed by the Reserve Bank from time to time. this provision was contravened and submissions were delayed. | (i) 56,745 (ii) 13,03,82,856 (iii) 19,70,775 | 92,009 | |
| 717 | Lubi Industries LLP | Jun/2017 | ODI | FEMA 120/RB-2004 | ODI - Delay in Reporting | (i) 8 years (ii) 1 years 3 months | (i) acquiring shares of the overseas Wholly Owned Subsidiary (WOS) from a foreign partner without fair valuation Issue2 holding of overseas direct investment by an LLP when it was not permitted | The applicant is engaged in the business of manufacturing, supply and export of motors and pumps. The applicant acquired shares of the overseas Wholly Owned Subsidiary (WOS) from a foreign partner without fair valuation. In terms of Regulation 6(6)(a)(ii) of Notification No.FEMA.120/2004-RB, as amended from time to time, "For the purposes of investment under this Regulation by way of remittance from India in an existing company outside India, the valuation of shares of the company outside India shall be made –…. (ii) In all other cases, by a Chartered Accountant or a Certified Public Accountant”. The applicant also held overseas direct investment by an LLP when it was not permitted. Regulation 2k of the same Notification defines ‘Indian Party’ for the purposes of this Notification. This definition did-not include LLP before the amendment Notification dated May 7, 2014. | (i) 650,408 (ii) 69,80,787 | 143,272 | |
| 718 | Indus Biotech Private Limited | Jun/2017 | ODI | FEMA 120/RB-2004 | ODI- Non Compliance of Provision | (i) 4 years 10 months to 7 years 06 months (ii) 6 years 03 months to 7 years (v) 2 years 08 months. | (i) making remittances to overseas entity without allotment of UIN and delayed reporting of remittances in the prescribed form to the Reserve Bank of India (RBI) Issue2 using nonpermissible sources for funding overseas investment (iii) delay in submission of Annual Performance Reports (APRs) in respect of the overseas entity (iv) disinvestment under automatic route with the applicant having outstanding dues from the overseas entity (v) disinvestment from the overseas entity without submission of APRs | IBPL is engaged in the business of research and development of consumer healthcare products. The applicant made 32 remittances to the JV during the years 2008 to 2010 (reported on September 09, 2015) without submitting Form ODI - I and without allotment of UIN in contravention of Regulation 6(2)(vi) of FEMA 120/2004-RB. Further, the disinvestment from the JV was undertaken without submission of APRs. The applicant also delayed in filing the Annual Performance Reports in form APR with the RBI in respect of the overseas entity. Also, the applicant edelayed in submitting the APRs beyond the stipulated period of 90 days. | (i) 514,56,420 (ii) 46,53,138 (v) 514,56,420 | 1,486,584 | |
| 719 | Valuable Technologies Ltd | Jun/2017 | ODI | FEMA 120/RB-2004 | ODI - Contravention of Provisions | (i) 8 years 3 months | (i) disinvestment in the overseas entity within a period of one year | The applicant is engaged in the business of information technology and software services. The applicant invested in a US Company. on August 14, 2008 for acquiring 1,12,000 shares which was reported to RBI on August 27, 2008. The UIN was allotted by RBI on August 27, 2008. The share certificate was received on September 10, 2008.The applicant reported the disinvestment in Form ODI Part III on September 19, 2016. The applicant by disinvesting within a period of one year from the date of investment contravened Regulation 16(1)(v) of Notification No. FEMA 120/2004-RB. | 17,233,104 | 179,248 | |
| 720 | JSW Steel Limited | Jun/2017 | ODI | FEMA 120/RB-2004 | ODI - Contravention of Provisions | (i) 04 months | (i) disinvestment in the overseas entity within a period of one year | It is engaged in the business of manufacturing steel and steel related products. The applicant set up a wholly owned subsidiary in UK namely, JSW Steel (UK) Limited (hereinafter referred as UK-WOS) on October 20, 2006 and made the remittances to the UK-WOS. The applicant subsequently set up another wholly owned subsidiary namely, JSW Steel (Netherlands) B.V. (hereinafter referred as Netherlands-WOS) and with a view to consolidate its overseas holdings sold its above stake in UK-WOS to Netherlands-WOS in terms of share purchase agreement dated November 29, 2007 and inward remittance of GBP 2 million was received on December 07, 2007. The applicant thus disinvested its entire stake in UK-WOS within a period of one year from the date of investment thereby contravening Regulation 16(1)(v) of Notification No. FEMA 120/2004-RB. | 165,058,350 | 875,292 | |
| 721 | I G Petro Chemicals Limited | Jun/2017 | ODI | FEMA 120/RB-2004 | ODI - Contravention of Provisions | (i) 03 months to 06 months | (i) making outward remittances to the overseas entity without allotment of UIN Issue2 and without submission of Form ODI | It is engaged in the business of chemicals & petrochemicals. It set up a Wholly-Owned Subsidiary in Dubai namely, IGPL International Limited and through its AD Bank viz Lakshmi Vilas Bank Limited made the following remittances to its overseas WOS without allotment of UIN. IGPL undertook the transactions without allotment of UIN and without submitting Form ODI – Part I within the prescribed period in contravention of Regulation 6(2)(vi) of FEMA 120/2004-RB. Also, the applicant did not report the investments made in the overseas entity within the prescribed time period of 30 days. | 84,532,705 | 64,000 | |
| 722 | Lisaline Lifescience Technologies Pvt Ltd | Jun/2017 | ODI | FEMA 120/RB-2004 | ODI - Contravention of Provisions | (i) 4 years 8 months | (i) making Foreign Direct Investment (FDI) under Overseas Direct Investment ODI | The applicant is engaged in the business of manufacturing, designing, developing or otherwise dealing with technologies related to the promotion of life science and business of pharmaceuticals, manufacturing and general chemicals and druggists and provision of other related services. The applicant set-up a Joint Venture (JV), namely, Lisaline Lifescience Technologies LLC, in UAE, on April 17, 2006. The abovementioned JV repatriated AED 727100 (INR 1,00,00,000) to the applicant as FDI on April 9, 2012, as an investment for expansion of the business activities. ThAs the above did-not amount to a bonafide business activity, it was thus, in contravention of Regulation 6(2)(ii) of Notification No. FEMA 120/2004-RB. | 10,000,000 | 120,000 | |
| 723 | Lodha Developers Private Limited | Jun/2017 | ODI | FEMA 120/RB-2004 | ODI - Contravention of Provisions | (i) 6 years and 1 months (ii) 5 years (iv) 6 years and 1 months Iue 5 5 years and 10 months | (i) holding loan in the overseas entity (JV) without equity contribution, (ii) nonreporting of post investment changes in existing JV (iii) delay in submission of Annual Performance Reports (APRs), (iv) disinvesting in the JV with outstanding dues (v) repatriation of disinvestment proceeds | The applicant is engaged in the business of construction and maintenance of buildings, as dealers, contractors, etc. and other allied activities. The applicant invested in redeemable preference shares (loan) between September 2008 to May 2009. The equity investment was disinvested on March 31, 2011 though the applicant continued to hold loan thereby contravening Regulation 6 (4) of Notification No. FEMA.120/2000-RB. Further, the applicant was having outstanding dues in the form of loan investment at the time of disinvestment. Also, the disinvestment proceeds were repatriated on August 07, 2012, which was beyond the stipulated time period of 90 days. The applicant further converted the investment in redeemable preference shares to compulsorily convertible preference shares. However, reporting of the same was not done within the stipulated time period of 30 days. Further, the applicant also did not submit the Annual Performance Reports (APRs) of the JV. | (i) 47,57,015 (ii) 47,57,015 (iii) 47,57,015 (iv) 47,57,015 (v) 20,19,500 | 351,501 | |
| 724 | Decagon Investments Private Limited | Jun/2017 | FDI | FEMA 20/2000-RB | FDI- Delay in filing | Financial Year 2006-07, 2007-08, 2008-09, 2009-10, 2010-11, 2011-12, 2012- 13, 2013-14, 2014-15 | delay in filing Annual Return on Foreign Liabilities and Assets | The applicant company had not filed the Annual Return on Foreign Liabilities and Assets (FLA return) to the Reserve Bank of India for the Financial Year 2006-07, 2007-08, 2008-09, 2009-10, 2010-11, 2011-12, 2012-13, 2013-14, 2014-15 on or before July 15 of the respective years which is a contravention in terms of Paragraph 9(2) of Schedule I to FEMA 20/2000-RB dated May 3, 2000 read with A.P. (DIR Series) Circular No. 40 dated April 20, 2007. The Company subsequently filed the pending returns with Reserve Bank of India on October 20, 2016. Hence there is delayed submission of the FLA returns on nine occasions. | 14,341,000 | 90,000 | |
| 725 | IBM India Private Limited | Jun/2017 | FDI | FEMA 20/2000-RB | FDI- Delay in filing | (i) 6 years (ii)4 years to 7 years (iii) 4 years to 7 years | (i) delay in filing of form FCGPR Issue2 noncompliance with conditions applicable to downstream investments by Indian companies | The applicant is engaged in the business of designing, developing, importing, procuring, selling, providing, licensing and marketing in India and abroad, information technology services. The applicant delayed in filing Form FC-GPR for certain transactions. The allotment of shares under FDI route was not reported in Form FC-GPR within the stipulated time period of 30 days. The applicant made Downstream investment into Indian companies which did-not have operations and also did-not have any downstream investments, without prior Government/FIPB approval. Also, the applicant Delay in intimation of downstream investment to SIA/DIPP/FIPB within 30 days of such investments. | (i) 149,35,92,480 (ii) 190,99,31,024 (iii) 47,42,41,479 | 16,957,452 | |
| 726 | Nissan Trading India Private Limited | Jun/2017 | FDI | FEMA 20/2000-RB | FDI- Delay in filing | (i) 2 years and 10 months | (i) exceeding the limit of wholesale trading | The applicant is engaged in the business of rendering advice on sourcing of automotive parts and component services to its Group Companies, and providing supply chain management services in India. During the financial year 2014-15, the applicant made a total domestic sales of INR 1,42,79,440, out of which sales amounting to INR 79,23,431, were made to Renault Nissan Automotive India Private Limited (RNAIPL), a Group Company of the applicant. Paragraph 15.1.2(d) of Annex B of Schedule I of Notification No. FEMA 20/2000-RB, as then applicable, permitted wholesale trading of goods among Group Companies, provided it did-not exceed 25% of the total turnover of the wholesale venture. The above transactions, thus, amounted to the contravention of Paragraph 15.1.2(d) of Annex B of Schedule I of Notification No. FEMA 20/2000-RB, as then applicable. | 4,353,571 | 76,121 | |
| 727 | Kepo Tourism Services Pvt Ltd | Jun/2017 | FDI | FEMA 20/2000-RB | FDI- Delay in filing | (i) 2 months to 8 years 9 months (ii)1 years 6 months to 8 years 7 months (iii) 3 months | (i) delay in reporting foreign inward remittances Issue2 delay in reporting allotment of shares after receipt of the funds (iii) delay in allotment of shares | The applicant is engaged in the travel and tourism business. The applicant further received foreign inward remittances from non-resident Director. The applicant reported receipt of remittances to the Authorized Dealer Bank later than 30 days from the date of receipt of the amount of consideration. KTSPL allotted preference shares. In one instance there was delay in the allotment of shares by the applicant against receipt of foreign remittance beyond the prescribed period of 180 days in contravention of Paragraph 8 of Schedule I of Notification No 20/2000- RB | (i) 202,24,790 (ii) 202,24,700 (iii) 68,21,600 | 416,673 | |
| 728 | AddressHealth Solutions India Pvt Ltd | Jun/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 4 months and 4 days to 2 years 1 months and 18 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity | The activity undertaken by the company is “To carry on the business of disease management and positive health promotion through community based integrated health services providing care, support and behaviour change, etc.” The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank beyond the stipulated time of 30 days. | 723,208,100 | 18,600 | |
| 729 | ID Fresh Food (India) Pvt Limited | Jun/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 9 days to 7 months and 8 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity | The activity undertaken by the company is “To carry on the business of manufacture, distribute and sale of products, etc.” The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank beyond the stipulated time of 30 days. | 363,755,774 | 111,000 | |
| 730 | Cokinetic Systems India Pvt Ltd | Jun/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in filing | (i) 8 years 7 months and 27 days (ii) 5 years 4 months and 28 days | (i) delay in submission of Form FCGPR (ii) issue of equity shares to the foreign investor prior to the receipt of inward remittance | The company is engaged in the business of software development and software supporting services, etc, The applicant filed the Form FC-GPRs on allotment of shares with the Reserve Bank / Authorized Dealer bank beyond the prescribed period of 30 days in respect of allotment of shares. The applicant company had allotted shares to the foreign investor towards subscription to Memorandum of Association of the company prior to receipt of foreign inward remittance | (i) 499,990 (ii) 499,990 | 52,500 | |
| 731 | Carbon Reduction Technology Innovations Pvt Ltd | Jun/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in filing | (i) 5 months to 4 years 10 months and 25 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity | The activity undertaken by the company is “To manufacture of electronic items, etc.” The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Authorized Dealer Bank beyond prescribed period of 30 days | (i) 33,53,005.90 | 25,600 | |
| 732 | Wintac Limited | Jun/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in filing | (i) 2 days to 1 years 10 months and 12 days (ii)5 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The activity undertaken by the company is “To carry on the business of developing and manufacturing of injectable products and sterile ophthalmic preparations for the Indian and other regulated markets.” The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Authorized Dealer Bank beyond the stipulated time of 30 days. The applicant filed the Form FC-GPRs on allotment of shares with the Reserve Bank / Authorized Dealer beyond the stipulated time of 30 days. | (i) 40,25,080 (ii) 40 crore | 46,500 | |
| 733 | Don Construction Chemicals India Limited | Jun/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in filing | (i) 11 days to 8 years 7 months 22 days (ii)1 years 1 months 13 days to 8 years 2 months 4 days (iii) 3 days to 2 years 11 months 18 days (iv) 1 years 3 months 10 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR (iii) delay in allotment of shares (iv) allotment of shares prior to receipt of full consideration | The applicant company is engaged in Business of manufacture of articles of concrete, cement or artificial stone (tiles, bricks etc.). The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Authorized Dealer Bank beyond the stipulated time of 30 days. The applicant filed the Form FC-GPRs on allotment of shares with the Reserve Bank / Authorized Dealer beyond the stipulated time of 30 days. The company allotted shares beyond the prescribed period of 180 days without prior approval of Reserve Bank. The company received the full consideration towards the allotment with delay of one year three months 10 days . Whereas in terms of paragraph 8 of Schedule I to Notification No. FEMA 20/2000-RB, read with AP (Dir Series) Circular No.20 dated December 14, 2007 the shares have to be issued/amount refunded within 180 days from the date of receipt of the inward remittance. | (i) 6,33,34,109 (ii) 17,17,10,560 (iii) 507,52,429 (iv) 515,580 | 1,395,211 | |
| 734 | Cheyyar SEZ Developers Pvt Ltd. | Jun/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in filing | (i) 1 days to 5 months 13 days | (i) Delay In filing Form FCGPR | The applicant company is engaged in Business of lessors of real property. The applicant filed the Form FC-GPRs on allotment of shares with the Reserve Bank / Authorized Dealer beyond the stipulated time of 30 days. | 921,859,200 | 123,250 | |
| 735 | Poclain Hydraulics Pvt Ltd | Jun/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in filing | (i) 5 days to 5 months 12 days (ii)1 days to 5 months 12 days (iii) 23 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR (iii) delay in allotment of shares | The applicant company is engaged in Business of design, develop, manufacture, produce, purchase, sell, trade in mechanical, fluid power, electronic and electric components and systems. The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Authorized Dealer Bank beyond the stipulated time of 30 days. The applicant filed the Form FC-GPRs on allotment of shares with the Reserve Bank / Authorized Dealer beyond the stipulated time of 30 days. The company allotted shares beyond the prescribed period of 180 days without prior approval of Reserve Bank. | (i) 740,19,372 (ii) 12,07,00,000 (iii) 100,00,000 | 178,950 | |
| 736 | Husky Injection Moulding Systems (Chennai) Pvt Ltd | Jun/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in filing | (i) 7 days to 2 years 3 months 3 days (ii)wo days to 3 years 5 months 4 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The applicant company is engaged in business of manufacture of pharmaceutical machinery. The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Authorized Dealer Bank beyond the stipulated time of 30 days. The applicant filed the Form FC-GPRs on allotment of shares with the Reserve Bank / Authorized Dealer beyond the stipulated time of 30 days. | (i) 43,91,00,000 (ii) 46,91,00,000 | 1,306,500 | |
| 737 | Bontaz Automotive India Pvt Ltd | Jun/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in filing | (i) 17 days (ii)11 days to 7 months | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The applicant company is engaged in Business of manufacture of automobile components. The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Authorized Dealer Bank beyond the stipulated time of 30 days. The applicant filed the Form FC-GPRs on allotment of shares with the Reserve Bank / Authorized Dealer beyond the stipulated time of 30 days. | (i) 85,02,000 (ii) 377,75,500 | 84,840 | |
| 738 | Turbo Energy Private Limited | Jun/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in filing | (i) 5 months 28 days to 5 years 2 months 9 days | (i)delay in submission of Form FCGPR on allotment of shares with Reserve Bank, | The applicant company is engaged in Business of manufacture of other attachments to motor vehicles. The company allotted bonus shares to the existing non-resident shareholders. The applicant filed the Form FC-GPRs on allotment of shares with the Reserve Bank / Authorized Dealer beyond the stipulated time of 30 days. | 13,043,200 | 50,250 | |
| 739 | Manuli Hydraulics India Pvt Ltd | Jun/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in filing | (i) 1 months 12 days to 8 years 11 months 1 days (ii)26 days to 8 years 11 months 29 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The applicant company is engaged in Business of manufacture of rubber plates, sheets, strips, rods, tubes, pipes, hoses and profile -shapes etc. The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Authorized Dealer Bank beyond the stipulated time of 30 days. The applicant filed the Form FC-GPRs on allotment of shares with the Reserve Bank / Authorized Dealer beyond the stipulated time of 30 days. | (i) 7044785375 (ii) 169720520 | 319,750 | |
| 740 | Danly (India) Pvt Ltd | Jun/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in filing | (i) 3 days to 3 months 7 days (ii)7 days to 4 months 13 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The applicant company is engaged in Business of manufacture of cutlery, hand tools and general hardware. The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Authorized Dealer Bank beyond the stipulated time of 30 days. The applicant filed the Form FC-GPRs on allotment of shares with the Reserve Bank / Authorized Dealer beyond the stipulated time of 30 days. | (i) 3302595080 (ii) 25092100 | 32,765 | |
| 741 | Polymatech Electronics Pvt Ltd | Jun/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in filing | (i) 5 days to 2 months 18 days (ii)6 months 10 days (iii) 28 days to 6 months 2 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR (iii) delay in allotment of shares | The applicant company is engaged in Business of manufacture of parts and accessories for computers and computer-based systems. The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Authorized Dealer Bank beyond the stipulated time of 30 days. The applicant filed the Form FC-GPRs on allotment of shares with the Reserve Bank / Authorized Dealer beyond the stipulated time of 30 days. The company allotted shares beyond the prescribed period of 180 days without prior approval of Reserve Bank. | (i) 433670000 (ii) 30000000 (iii) 339070000 | 1,419,513 | |
| 742 | Kovai Hills Edinfra Pvt Ltd | Jun/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in filing | (i) 13 days to 3 months 11 days (ii)5 days to 3 months 13 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The applicant company is engaged in Business of Construction of non-residential buildings including additions and alterations in the existing ones. The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Authorized Dealer Bank beyond the stipulated time of 30 days. The applicant filed the Form FC-GPRs on allotment of shares with the Reserve Bank / Authorized Dealer beyond the stipulated time of 30 days. | (i) 21735630 (ii) 44997322 | 37,370 | |
| 743 | McWane Services Private Limited | Jun/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in filing | (i) 4 days to 10 months 13 days (ii) 2 months 3 days to 3 years 10 months 13 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The applicant company is engaged in Business of technical testing and analysis services. The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Authorized Dealer Bank beyond the stipulated time of 30 days. The applicant filed the Form FC-GPRs on allotment of shares with the Reserve Bank / Authorized Dealer beyond the stipulated time of 30 days. | (i) 12144333463 (ii) 269191010 | 355,810 | |
| 744 | Vital Paper Products Pvt Ltd | Jun/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in filing | 1 months 26 days to 5 months 1 days | Delay in reporting receipt of funds for issue of shares | The company is engaged in the business of manufacture of paper and related products. The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Authorized Dealer Bank beyond the stipulated time of 30 days. | 62,636,690 | 89,670 | |
| 745 | Resource Solutions India Pvt Ltd | Jun/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in filing | (i) 29 days (ii) 1 months 1 days to 1 months 26 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The company is engaged in the activities of employment, placement agencies, onsite support for clients and administrative services. The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Authorized Dealer Bank beyond the stipulated time of 30 days. The applicant filed the Form FC-GPRs on allotment of shares with the Reserve Bank / Authorized Dealer beyond the stipulated time of 30 days. | (i) 99990 (ii) 25100008 | 28,920 | |
| 746 | V Fraas (India) Fashion Accessories Pvt Ltd | Jun/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in filing | (i) 7 years 4 months 1 days (ii) 6 years 11 months | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The main objective of the applicant is manufacturing, designing of textiles, household goods, fashion goods and accessories. The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Authorized Dealer Bank beyond the stipulated time of 30 days. The applicant filed the Form FC-GPRs on allotment of shares with the Reserve Bank / Authorized Dealer beyond the stipulated time of 30 days. | (i) 8990800 (ii) 8990800 | 119,680 | |
| 747 | D B Realty Limited | Jun/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in filing | (i)10 days to 1 months and 16 days (ii) 13 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The applicant company is engaged in the business in or outside India of construction works and that of Builders, Developers, contractors, or all kinds of works viz. Road, Bridge, Buildings, industrial/ residential/ commercial premises or Factories etc. The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Authorized Dealer Bank beyond the stipulated time of 30 days. The applicant filed the Form FC-GPRs on allotment of shares with the Reserve Bank / Authorized Dealer beyond the stipulated time of 30 days. | (i) 4442675000 (ii) 5250000000 | 420,000 | |
| 748 | Palm India Hospitality Pvt. Ltd. | Jun/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in filing | (i) 1 years 19 days to 1 years 6 months and 1 days (ii) 1 years 10 days to 1 years 5 months and 7 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The applicant company was incorporated on December 27, 2007 under the Companies Act, 1956 and engaged in the business of running, developing, constructing, servicing, maintaining, managing, operating any hotels, branded hotels, apartmental hotels, hospitality business, etc. The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Authorized Dealer Bank beyond the stipulated time of 30 days. The applicant filed the Form FC-GPRs on allotment of shares with the Reserve Bank / Authorized Dealer beyond the stipulated time of 30 days. | (i) 4619061 (ii) 4619060 | 41,000 | |
| 749 | Elitser Technologies Pvt Ltd | Jun/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in filing | (i) 8 days to 4 years and 2 days (ii) 4 months 29 days to 4 years 1 months and 25 days (iii) 5 years 5 months 6 days to 5 years 11 months and 1 days | (i) neither the equity instruments were issued nor the money refunded to the foreign investor (ii) Delay in reporting receipt of funds for issue of shares (iii) Delay In filing Form FCGPR | The applicant company is engaged in the business in India and abroad, as manufacturers, processors, designers, developers, buyers, sellers, assemblers, dealers, importers, exporters, suppliers etc. The company has received inward remittances amounting beyond the prescribed limit of 180 days without the approval of Reserve Bank. in terms of paragraph 8 of Schedule 1 to Notification No. FEMA 20/2000-RB, if the shares are not issued within 180 days from the date of receipt of the inward remittance, the amount of consideration so received shall be refunded to the person concerned, provided the Reserve Bank may, on an application made to it and for sufficient reasons permit to refund the amount of consideration received towards issue of security, if such amount is outstanding beyond a period of 180 days from the date of receipt. The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Authorized Dealer Bank beyond the stipulated time of 30 days. The applicant filed the Form FC-GPRs on allotment of shares with the Reserve Bank / Authorized Dealer beyond the stipulated time of 30 days. | (i) 7365529 (ii) 9606373 (iii) 7035235 | 172,084 | |
| 750 | TVS Logistics Services Limited | Jul/2017 | FDI | FEMA 20/2000-RB | Contravention of Regulation | 7 years 11 months 20 days | The contravention sought to be compounded is issue of ineligible instruments in terms of Regulation 2(ii) read with Regulation 5(1) | The applicant company is engaged in business of motorised road freight transport. The company, under a scheme of allotment of shares drawn up in the year January 2009, has allotted 16344 shares of ₹10/- each at a premium of ₹ 65/- on 01.01.2009 to four employees of the overseas associate companies, as part of providing incentives to the employees, on receipt of initial aggregate amount of ₹ 81,720/- at ₹ 5/- per share (₹ 2/- towards face value and ₹ 3/- towards premium per share). Thus, the company has allotted partly paid shares, an ineligible instrument on the date of allotment to the employees | 81,720 | 65,376 | |
| 751 | Sahyadri Hospitals Limited | Jul/2017 | ODI | FEMA 120/RB-2004 | ODI- Non Compliance of Provision | (i) 2 to 3 years (ii) 2 to 3 years | Issue1 Nonrealization of dues within the stipulated time period and (ii) Disinvesting from JV/WOS outside India with outstanding dues | The applicant is engaged in the business of providing clinical, diagnostic and medical services.The applicant rendered certain services to the JV, for which invoices were raised on the JV from time to time.The two invoices remained unrealised and were to be repatriated within the stipulated time period of 60 days of their falling due. However, the same could not be realized and RBI gave permission to write off the abovementioned amount on 18.05.2016. Further, the applicant made disinvestment which was in contravention of provision of FEMA. | (i) 83,86,194 (ii) 105 crore | 209,870 | |
| 752 | Sartorius Stedim India Pvt Ltd | Jul/2017 | ECB | FEMA 3/2000-RB | B/L- Non Compliance of Provision | 2 years to 4 years | Delay in making payment of invoices without prior approval of RBI | The company is engaged in the business of manufacturing pharmaceuticals and laboratory equipments. SSIPL is a part of Sartorius Group, Germany. Its overseas fellow subsidiary viz, Sartorius Stedim Biotech Gmbh, Germany had raised invoices on SSIPL amounting to USD 128,295 for reimbursement of expenses towards freight, hotel/meeting and validation incurred during the period September 05, 2007 to December 08, 2011. | 8,725,851 | 105,803 | |
| 753 | Markit India Services Pvt Ltd | Jul/2017 | ECB | FEMA 3/2000-RB | B/L- Non Compliance of Provision | 9 months to 4 years | Delay in making payment of invoices without prior approval of RBI | The applicant is engaged in the business of providing back office data processing and analysis related services to its associated enterprises. The applicant is a Wholly Owned Subsidiary (WOS) of Markit NV, Netherlands. The applicant entered into an arrangement with the group companies. The amount in relation to some of the transactions remained outstanding beyond the stipulated time period. The payments since remitted to group companies amounted to ECB in contravention of Regulation 3 of FEMA provisions. | 130,731,383 | 826,368 | |
| 754 | MNR Research Conventions Pvt Ltd | Jul/2017 | ODI | FEMA 120/RB-2004 | T/I- Delay in Reporting | (i) 1 years and 3 months (ii)11 m and 14 days | (i) delay in reporting of remittance made to set up the overseas entity in the prescribed form to the Reserve Bank of India Issue2 delay in receipt of share certificates | The applicant’s main objects are to run educational institutions in and outside; to provide research and consultancy in the area of education; and to establish and run centres for imparting training in various fields of education at national and international levels. | (i) 878000 Issue2 0 | 21,250 | |
| 755 | Genus Power Infrastructures Limited | Jul/2017 | ODI | FEMA 120/RB-2004 | T/I- Delay in Reporting | (i) 2 years 10 m (ii)NA | (i) non submission of form ODI I in respect of the initial investment made in the overseas Joint Venture (JV) Issue2 delay in submission of forms APR relating to the JV | The applicant company is engaged in the business of manufacturing electric meters and invertors. With the intention to offer a complete range of electronic energy meters and metering solutions in Brazil and other Latin American countries, it entered into a joint venture with a local company to set up a Joint Venture company in the name of Genus SA in Brazil in June 2006. GPIL sent an initial remittance of USD 200,000 (equivalent to INR 93,06,000) for equity participation in the JV on September 6, 2006 by debit to its foreign currency bank account held with ICICI Bank, UK. The relative ODI form for the remittance could not be produced by the applicant. Further, the company did not submit the Annual Performance Report (APR) for the years 2008, 2010, 2011, 2012, and 2013 | (i) 93,06,000 | 155,836 | |
| 756 | Mahindra & Mahindra Limited | Jul/2017 | ODI | FEMA 120/RB-2004 | T/I- Delay in Reporting | (i),2,3 8 years | (i) delayed reporting of acquisition of the stake in the overseas entity in the prescribed form to the Reserve Bank of India Issue2 delayed reporting of disinvestment in the overseas entity in the prescribed form to RBI Issue3 delay in submission of Annual Performance Reports | The applicant company engaged in the business of merchandise, commodities, machinery, tools, goods and articles of all kinds especially automobile sector. On June 30, 2006, Mahindra Holdings & Finance Limited (MHFL) invested USD 3 million (INR 13,82,70,000/-) in an overseas joint venture (JV) in USA namely, Prana Holdings Inc and the share certificate was received on November 13, 2006. MHFL was subsequently merged with its parent company namely, MML vide Bombay High Court order dated July 18, 2008 effective from February 01, 2008. As a result of the merger of the Indian party with its parent company the MHFL’s stake in the overseas JV was transferred to MML which was reported online on June 22, 2016 and was taken on record by the Bank on September 28, 2016. The MML did not report the said acquisition of the stake in the overseas JV from MHFL in Form ODI - I within the prescribed time period in contravention of Regulation 6(2)(vi) of FEMA 120/2004-RB. MHFL did not report the said disinvestment of its stake in the overseas JV within the prescribed time period in contravention of Regulation 16(2) of FEMA 120/2004-RB. | 23,138,270,000 | 1,683,333 | |
| 757 | Cisco Development India Private Limited | Jul/2017 | ECB | FEMA 3/2000-RB | B/L- Non Compliance of provisions | (i) 2.5 years to 3 years 2 m | (i) Delay in reporting of remittance made to set up the overseas entity in the prescribed form to the Reserve Bank of India | The applicant company is primarily engaged in the business of providing management services to Cisco Systems Inc., USA. | 262,664,019 | 430,386 | |
| 758 | ALP Overseas Pvt Ltd | Jul/2017 | ODI | FEMA 120/RB-2004 | T/I- Delay in Reporting | (i) 2 yr and 11 m (ii)2 years | (i) proceeds of disinvestment of shareswere repatriated beyond 90 days Issue2 delayed submission of APRs for the years 2010 and 2011 | The applicant is engaged in manufacture of automobile sealing products.The applicant had received the disinvestment proceeds of US $ 26773.53 only due to the financial difficulties of the overseas buyer and the balance of US $ 1126.47 was written off by the applicant. The details of the remittances made to the above JV and of receipt of the proceedings of disinvestment. The proceeds of disinvestment of shares of Enterprise / Ameriseal Inc USA, were repatriated by the applicant beyond 90 days and delayed submission of the APRs for the years 2009, 2010 and 2011 | (i) 1016171 Issue2 676115 | 75,757 | |
| 759 | Janalakshmi Financial Services Limited | Jul/2017 | ODI | FEMA 120/RB-2004 | T/I-Non Compliance of provision | (i) 1 years to 7 years | (i) Undertaking of an activity in which foreign investment is not allowed under the automatic route | The applicant engaged in the business of providing micro finance loans, individual loans and other related financial products/services predominantly to low-income groups. | (i) 2328 crore | 1,366,806 | |
| 760 | Zim Laboratories Ltd | Jul/2017 | ODI | FEMA 120/RB-2004 | T/I- Delay in Reporting | (i),2,3 2 years and 9 months | (i) remittance made in cash for setting up an overseas entity Issue2 delay in reporting of remittance made to set up the overseas entity in the prescribed form to the Reserve Bank of India Issue3 delay in submission of Annual Performance Reports | The applicant is engaged in the business of manufacturing, distribution and marketing of pharmaceuticals in allopathic category. the applicant company submitted Form ODI Part I through its Authorised Dealer (AD) to the RBI only on April 27, 2016. In the light of more details about the transaction obtained through the AD, delays and certain other contraventions were observed. | (i) 403000 Issue23 403000 | 85,168 | |
| 761 | Greytip Software Private Limited | Jul/2017 | ODI | FEMA 120/RB-2004 | T/I-Non Compliance of provision | (i) 9 years (ii) le than a years | (i) Non submission of Form ODI Part1 Issue2 Delay in submission of form APR | The applicant is engaged in the business of providing HR and Payroll software and allied activities. The applicant incorporated a WOS Viz., Greytip Software, FTZ in UAE on January 8, 2012. Equity contribution was made in the form of capitalisation of software export receivables worth AED 1,00,000/- (Rs.12,56,839/-) on April 1, 2012. The same was done without submitting Form ODI-part I and Form Softex, thereby contravening the provision of Regulation 6(2)(vi) and regulation 12 of Notification No FEMA 120-RB 2004. The applicant also reported Annual Performance Reports (APRs) for the years 2013, 2014 and 2015 with delay, thereby contravening regulation 15 (III) Notification No FEMA 120-RB 2004. | (i) 1256839 Issue2 1256839 | 124,375 | |
| 762 | Adknowledge Asia Pacific (India) Pvt Ltd | Jul/2017 | ECB | FEMA 3/2000-RB | B/L- Non Compliance of provisions | (i) 1 years and 8 months | (i) NRI shall not borrow or lend money in foreign exchange from or to a person resident in or outside India. | The applicant was incorporated as a subsidiary of Adknowledge Asia Pacific Pte Limited, Singapore who is holding 99.99% of equity in the Indian company. The overseas holding company deposited INR 15,00,000/- on August 08, 2015 in to the bank account of the licensor Mr. Kashyap Davda as security deposit on behalf of the Indian company to have office space. The payments since remitted by the holding company to the licensor, amounted to external commercial borrowings, there by contravening regulation 3 read with Schedule I of Notification FEMA 3/2000-RB. The amount was waived by the holding company vide its letter dated April 10, 2017. | 1,500,000 | 58,250 | |
| 763 | Abja Global Hospitality Investments Pvt Ltd ("ABJA") | Jul/2017 | ODI | FEMA 120/RB-2004 | T/I-Non Compliance of provision | (i) 1 months to 1 years | Failure to obtain share certificate or anyother evidence by an Indian party which has acquired foreign security | AGHIPL is engaged in the business of running hotels, restaurants, cafes, holiday camps, resorts etc and allied activities. | (i) 88 crores | 70,000 | |
| 764 | Mahesh Mohan Uberoi | Jul/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 6 years (ii) 5 years | (i) Mode of payment for acquisition of shares (ii) Transfer of share from NRI to NRI without prior approval of RBI | The applicant was an initial subscriber of My Personal Health Record Express (India) Pvt Ltd and subscribed to 980 equity shares of the above entity on October 27, 2010, each having value of Rs.100. Subscription amount of INR 98000 was paid by Webify Services India Pvt Ltd to the Company on November 20, 2010 on behalf of the applicant, thereby contravening Para 8 of Schedule 1 of FEMA 20 pertaining to mode of payment for acquisition of shares. The NRI later on refunded the cost of shares to the investee company and the investee company further paid it to Webify as advised by RBI vide letter dated June 9, 2016. The applicant transferred 980 shares of My Personal Health Record Express (India) to my Personal Health Record Express Inc, (non-resident) on January 31, 2012 without obtaining prior approval of Reserve Bank | (i) 98000 (ii) 98000 | 51,421 | |
| 765 | Optel Vision India Pvt Ltd | Jul/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 9 days to 14 days (ii) 7 days | (i) delay in reporting foreign inward remittances Issue2 delay in reporting allotment of shares after receipt of the funds | The applicant is engaged in the business of manufacture of packaging inspection and serialization systems, deals in hardware, software, technology and integration.OVIPL received foreign investment of Rs.4,00,32,310/- in the month of October 2016 and has reported the receipt of foreign inward remittances beyonf the period of 30 days from the date of receipt of consideration. OVIPL reported the allotment of equity shares in Form FC-GPR amounting to Rs.4,00,00,000/-, out of which allotment of shares amounting to Rs.10,00,000/- was reported with delay. | (i) 40032310 Issue2 1000000 | 24,417 | |
| 766 | NSR International Private Limited | Jul/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 1 to 64 days (ii) 7 to 21 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity Issue2 Delay in submission of Form FCGPR | the company is engaged in software development and support services and wholesale trade.The applicant reported the receipt of twenty one inward remittances, amounting to ₹81.88 lakh (₹81, 88,111/-) to the Ahmedabad Regional Office of the Reserve Bank of India. Out of which 5 inflows were reported beyond the stipulated period of 30 days from the date of receipt of the amount of consideration.The applicant allotted equity shares and filed FC-GPRs beyond 30 days from the date of issue of shares to the overseas investor. | (i) 2241000 Issue2 3186000 | 21,300 | |
| 767 | Swiss Reinsurance Company Ltd (Liaison Office) | Jul/2017 | Acquisition and Transfer of Immovable Property | FEMA 21/2000-RB | Regulation 8 of Notification No. FEMA-21/2000-RB dated May 03, 2000 states that save as otherwise provided in the Act or Regulations, no person resident outside India shall transfer any immovable property in India | 13 years 1 months. | Acquisition of immovable property in India without obtaining prior permission of the Reserve Bank of India | The applicant‘s parent company viz., Swiss Reinsurance Company Limited, Zurich was incorporated on December 19, 1863 under the law of Switzerland. The company transacts in all kinds of re-insurance business and provides associated services. The applicant company was also accorded approval for acquisition by way of purchase of immovable property situated at Nariman Point, Mumbai by the Reserve Bank vide letter ibid., dated September 19, 1997, subject to terms and conditions mentioned therein. As per the terms and conditions, the property was prohibited to be transferred or disposed of in any manner without the Reserve Bank’s prior permission. However, the applicant company disposed of by way of sale, the aforesaid property for which a sale deed was executed on December 16, 2003 for consideration amount of INR 2.25 crore (Rupees two crore twenty-five lakh only), without obtaining permission from the Reserve Bank in contravention of terms and conditions of our letter ibid., dated September 19, 1997, which is construed as contravention of Regulation 8 of FEMA Notification No.21 /2000 -RB dated May 03, 2000, as amended from time to time. | 1,698,714 | 1,897,464 | |
| 768 | Kaizen Infrastructure LLP | Jul/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 31 to 34 days (ii) 179 to 925 days | Issue1 Delay in submission of Form FCGPR Issue2 delay in allotment of shares beyond stipulated period of 180 days | The company is engaged in infrastructure development of all kind of projects like Hotels, resorts, buildings, offices townships. Flats, houses, factories, warehouses, shops, clubs, theatres, water parks, hospitals, electric generating stations etc. The applicant company has received one inflow amounting to ₹75,24,000/- from Foreign investor under automatic route and reported the same to Reserve Bank of India. delay in submission of form FC-GPR, after issue of shares to persons resident outside India.Due to delay in allotment of shares beyond stipulated period of 180 days from date of receipts | (i) 7524000 (ii) 7524000 | 77,985 | |
| 769 | Vizury Interactive Solutions Private Limited | Jul/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 13 days to 2 years, 2 months and 4 days (ii)9 days to 2 years, 2 months and 3 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity Issue2 Delay in submission of Form FCGPR | The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Authorized Dealer Bank later than 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs with RBI beyond the stipulated period. | (i) 35,22,40,527 (ii) 51,29,21,162 | 604,200 | |
| 770 | Aeroflex Systems Private Limited | Jul/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 10 months and 11 days (ii) 1 months and 17 days (iii) 1 years 2 months and 25 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity Issue2 delay in submission of form FCGPRs. (iii) nonissue of equity instruments to the foreign investor, a person resident outside India, within 180 days of the receipt of the inward remittance | The activity undertaken by the company is a worldwide provider of highly specialized test and measurement equipment and microelectronics solutions. The applicant had received funds towards shareapplication money from foreign investor.reported receipt of remittances to the Reserve Bank beyond the period of 30 days from date of receipt of consideration. The applicant filed form FC-GPR and submitted the same beyond the period 30 days from the date of issue of shares to persons resident outside India. Non-issue ofequity instruments to the foreign investor, a person resident outside India, within 180 days of the receipt of the inward remittance. | (i) 17,60,990 (ii) 99,000 (iii) 99,990 | 38,100 | |
| 771 | Sensata Technologies India Private Limited | Jul/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 14 days to 2 years 10 months and 14 days Iue 2 Iue 3 Iue 4 | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity Issue2 delay in submission of form FCGPRs. (iii) nonissue of equity instruments to the foreign investor, a person resident outside India, within 180 days of the receipt of the inward remittance. (iv) delay in filing Annual Return on Foreign Liabilities and Assets (FLA Return) | The company is engaged in the business of cash and carry whole sale trade in control and sensor products. The applicant had received funds towards shareapplication money from foreign investor.reported receipt of remittances to the Reserve Bank beyond the period of 30 days from date of receipt of consideration. The applicant filed form FC-GPR and submitted the same beyond the period 30 days from the date of issue of shares to persons resident outside India. Non-issue ofequity instruments to the foreign investor, a person resident outside India, within 180 days of the receipt of the inward remittance. | (i) 571,70,250 (ii) 727,82,108 | 465,990 | |
| 772 | Structcon Engineering Constructions Private Limited | Jul/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 2 months and 3 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity | The activity undertaken by the company is “To carry on the business of construction of highways and bridges”. The applicant had received funds towards shareapplication money from foreign investor.reported receipt of remittances to the Reserve Bank beyond the period of 30 days from date of receipt of consideration. | 1,494,780 | 12,000 | |
| 773 | Vios Medical India Private Limited | Jul/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i)twenty days to 2 months and 1 days, | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity | The activity undertaken by the company is “to carry on the business of developing innovative healthcare solutions, engineering development and clinical validation of technologies etc”. The applicant had received funds towards shareapplication money from foreign investor.reported receipt of remittances to the Reserve Bank beyond the period of 30 days from date of receipt of consideration. It reported receipt of remittances to the Reserve Bank beyond the period of 30 days from date of receipt of consideration.The company also delayed in issue of shares to the foreign investor, a person resident outside India beyond 180 days of the receipt of the inward remittance. | 6,700,000 | 10,790 | |
| 774 | Italind Engineers Private Limited | Jul/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 9 months and 22 days to 1 years 8 months and 14 days | (i) refund of share application money to the foreign investors, persons resident outside India beyond 180 days of receipt of the inward remittances | The company is engaged in the business of designing, assembling, importing, distribution, consultancy and trading of various types of CNC machines and engineering equipment etc. The applicant failed to refund the share application money to the foreign investors, persons resident outside India beyond 180 days of receipt of the inward remittances | 107,908,400 | 50,600 | |
| 775 | Nusyn Digital Solutions Private Limited | Jul/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 1 years, 2 months and 7teen days to 1 years, 8 months and 24 days (ii) 2 years, 9 months and 3 days to 3 years, 3 months and 10 days (iii) 3 years and 8 months | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) issue of shares to the foreign investor, a person resident outside India beyond 180 days of the receipt of the inward remittance (iii) delay in submission of Form FCGPRs to the Reserve Bank after issue of shares to a person resident outside India | The activity undertaken by the company is “to carry on the business of providing of digital signage solution software, hardware and accessories related to digital signage.” The applicant had received funds towards shareapplication money from foreign investor but reported receipt of remittances to the Reserve Bank beyond the period of 30 days from date of receipt of consideration. The applicant failed to refund the share application money to the foreign investors, persons resident outside India beyond 180 days of receipt of the inward remittances. The applicant filed form FC-GPR and submitted the same beyond the period 30 days from the date of issue of shares to persons resident outside India. | (i) 158,82,773 (ii) 157,82,781 (iii) 100,000 | 149,168 | |
| 776 | Catbus Infolabs Private Limited | Jul/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 6teen days to 7 months and 6 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity | The activities undertaken by the company are “other professional, scientific and technical activities n.e.c.” The applicant had received funds towards shareapplication money from foreign investor but reported receipt of remittances to the Reserve Bank beyond the period of 30 days from date of receipt of consideration. | 3,560,388,341 | 33,765 | |
| 777 | Capillary Technologies India Private Limited | Jul/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 5 days to 1 years 3 months and 6 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity | The activities undertaken by the company are “To set up, manage research, develop and maintain Software Technology Park (STP), websites, internet gateways, software development centres, multimedia, animation centres, portals to have multiple setups, to provide and develop M-commerce related activities within India or outside India, etc.” The applicant had received funds towards shareapplication money from foreign investor but reported receipt of remittances to the Reserve Bank beyond the period of 30 days from date of receipt of consideration. | 41,313,907,600 | 309,440 | |
| 778 | Vekoma Rides Equipment (India) Private Limited | Jul/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 1 months and 16 days to 5 months and 24 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity | The activities undertaken by the company are “to carry on business of setting up of entertainment centers importing various machines and equipment in connection with amusement and gaming operation of entertainment centers”. The applicant had received funds towards shareapplication money from foreign investor but reported receipt of remittances to the Reserve Bank beyond the period of 30 days from date of receipt of consideration. | 1,910,565,000 | 17,630 | |
| 779 | Energon Soleq India Power Resources Private Limited | Jul/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 26 days to 1 months and 2 days (ii) 11 days to 1 months and 2 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity Issue2 Delay in submission of Form FCGPR | The company is engaged in the business of generation, accumulation, transmission, distribution, purchase and sale of power generated from renewable resources/ non-conventional sources of energy. The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Authorized Dealer Bank later than 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs with RBI beyond the stipulated period of 30 days | (i) 10,69,23,00,000 (ii) 11,34,85,29,000 | 37,320 | |
| 780 | NBSL Elevator Components India Private Limited | Jul/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 10 days to 1 months 29 days (ii) 1 months 13 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity Issue2 Delay in submission of Form FCGPR | The applicant company is engaged in Business of manufacture of other lifting and handling equipment and parts thereof. The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Authorized Dealer Bank later than 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs with RBI beyond the stipulated period. | (i) 66,03,69,268 (ii) 393,57,520 | 30,620 | |
| 781 | Vishay Precision Transducers India Private Limited | Jul/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 1 months 24 days to 9 months 18 days (ii) 4 days to 2 months 20 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity Issue2 Delay in submission of Form FCGPR | The applicant company is engaged in business of manufacture of other measuring equipments. The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Authorized Dealer Bank later than 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs with RBI beyond the stipulated period of 30 days | (i) 15,16,83,18,070 (ii) 31,30,06,150 | 167,250 | |
| 782 | Chain-Sys India Private Limited | Jul/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 6 days to 10 years 27 days (ii) 1 months 20 days to 10 years 17 days (iii) 12 years 7 months 21 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity Issue2 Delay in submission of Form FCGPR (iii) allotment of shares prior to receipt of full consideration | The applicant company is engaged in Business of computer consultancy and computer facilities management activities. The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Authorized Dealer Bank later than 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs with RBI beyond the stipulated period. The company alloted shares prior to receipt of full consideration. The shares have to be issued/amount refunded within 180 days from the date of receipt of the inward remittance. | (i) 92,72,684 (ii) 160,72,511 (iii) 2,20,397 | 83,813 | |
| 783 | C C Jensen Filtration Private Limited | Jul/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 3 years 6 months 2 days to 3 years 6 months 3 days | (i) delay in refund of excess inward remittance received to the nonresident investor | The applicant is engaged in Business of Manufacture of filtering and purifying machinery for liquids and gases. The company refunded the amount to the non-resident investors beyond the prescribed period of 180 days from the date of receipt of the inward remittance. | 610,013 | 49,118 | |
| 784 | Alfanar Engineering Services India Private Limited | Jul/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 3 years 10 months 8 days to 4 years 4 months 16 days (ii)3 years 7 months 23 days to 4 years 1 months 28 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity Issue2 Delay in submission of Form FCGPR | The applicant company is engaged in Business of data processing activities including report writing. The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Authorized Dealer Bank later than 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs with RBI beyond the stipulated period of 30 days | (i) 300,00,000 (ii) 299,99,900 | 315,665 | |
| 785 | Wak Homes & Fashions Private Limited | Jul/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 3 years 1 months 1 days to 3 years 4 months 26 days (ii) 1 years 8 months 10 days to 2 years | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity Issue2 Delay in submission of Form FCGPR | The applicant company is engaged in business of hotels, rooming houses, camps and other lodging places. The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Authorized Dealer Bank later than 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs with RBI beyond the stipulated period of 30 days. | (i) 287,08,64,414 (ii) 287,08,600 | 474,300 | |
| 786 | Mayflower Inno Realty Private Limited | Jul/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 7 days to 9 months 5 days (ii)1 months 25 days to 11 months 4 days (iii) 1 months 21 days to 10 months 12 days (iv) 11 months 19 days to 8 years 11 months 13 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity Issue2 Delay in submission of Form FCGPR (iii) delay in refund of excess share application money received (iv) taking on record the transfer of shares in the books of the company without certified FC TRS | The applicant company is engaged in Business of construction of buildings carried out on own-account basis or on a fee or contract basis. The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Authorized Dealer Bank later than 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs with RBI beyond the stipulated period of 180 days. The excess amount remaining after allotment of shares was refunded beyond the prescribed period of 30 days with prior approval of Reserve Bank. The company has taken the transfer of shares on record without certified FC TRS. | (i) 36,61,99,658 (ii) 23,38,19,000 (iii) 900,00,358 (iv) 29,05,01,100 | 943,502 | |
| 787 | Corent Technology Private Limited | Jul/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 1 days to 1 months 2 days (ii)11 years 6 months 28 days | (i) not complying with receipt of funds guidelines Issue2 taking on record the transfer of shares in the books of the company without certified FCTRS | The applicant company is engaged in Business of Writing, modifying, testing of computer program to meet the needs of a particular client excluding web-page designing. The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Authorized Dealer Bank later than 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs with RBI beyond the stipulated period of 30 days. | (i) 571206 (ii) 571206 | 64,873 | |
| 788 | Basha Syed Niamathullah | Jul/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | 7 years 7 months 20 days | delay in submission of FCTRS | The applicant an individual was the holder of equity shares in the company M/s.Corent Technology Pvt Ltd. The resident seller, also a Director of the company has transferred equity shares to Non Resident buyer. The applicant filed the form FC TRS with the Authorised Dealer beyond 60 days from the date of receipt of the amount of consideration. The onus of submission of the form FC-TRS within the given timeframe would be on the transferor / transferee, resident in India | 284,456 | 17,670 | |
| 789 | Vermeer Equipment India Private Limited | Jul/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | 6 days to 2 months 4 days | delay in reporting of inflow of funds received from a person resident outside India for allotment of shares | The applicant company is engaged in business of other business support service activities. The applicant received foreign inward remittances towards subscription to equity shares and reported the same to the Reserve Bank beyond 30 days from the date of receipt of the amount of consideration. | 10,175,032 | 10,500 | |
| 790 | Fujita Engineering India Private Limited | Jul/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 9 days to 5 months 20 days (ii)26 days to 1 months 27 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity Issue2 Delay in submission of Form FCGPR | The applicant company is engaged in business of Construction of buildings carried out on own-account basis or on a fee or contract basis. The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Authorized Dealer Bank later than 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs with RBI beyond the stipulated period of 30 days | (i) 300,80,000 (ii) 299,50,100 | 41,250 | |
| 791 | Trichy Power Limited | Jul/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 17 years 1 months 19 days (ii)17 years 1 months 19 days (iii) 9 years 7 months 21 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity Issue2 Delay in submission of Form FCGPR (iii) delay in write off of excess share application money received | The applicant company is engaged in the business of electric power generation by non-coal based thermal (e.g. diesel, gas). The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Authorized Dealer Bank later than 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs with RBI beyond the stipulated period of 30 days. As the company did not have any future business plans in India and also did not have adequate cash balances to repay the share application money, the company sought to write off the balance amount beyond 180 days from the date of receipt of the inward remittance. | (i) 24,05,000 (ii) 10,00,000 (iii) 14,05,000 | 158,072 | |
| 792 | Trichy Energy Limited | Jul/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 17 years 1 months 19 days (ii)17 years 1 months 19 days (iii) 9 years 7 months 21 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity Issue2 Delay in submission of Form FCGPR (iii) delay in write off of excess share application money received | The applicant company is engaged in the business of electric power generation by non-coal based thermal (e.g. diesel, gas). The applicant had received funds towards share application money from foreign investors. The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Authorized Dealer Bank later than 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs with RBI beyond the stipulated period of 30 days. As the company did not have any future business plans in India and also did not have adequate cash balances to repay the share application money, the company sought to write off the balance amount beyond 180 days from the date of receipt of the inward remittance | (i) 1400,000 (ii) 10,00,000 (iii) 400,000 | 121,010 | |
| 793 | Accumetric Silicones Private Limited | Jul/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 3 months 4 days to 4 years 3 months 25 days (ii)3 years 9 months 3 days | (i) Delay in submission of Form FCGPR Issue2 allotment of shares prior to receipt of full consideration | The applicant company is engaged in the business of Manufacture of caulking compounds and similar non-refractory filling or surfacing preparations, mastics, prepared paint or varnish removers, organic composite solvents and thinners and other related products. The applicant filed form FC-GPR beyond the prescribed limit of 30 days from the date of issue of shares to person resident outside India. | (i) 10,00,000 (ii) 102,530 | 45,121 | |
| 794 | Next Chapter Technology Private Limited | Jul/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 13 days to 5 months 9 days (ii)3 months 14 days to 3 months 15 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity Issue2 Delay in submission of Form FCGPR | The applicant company is engaged in business of other information technology and computer service activities. The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Authorized Dealer Bank later than 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs with RBI beyond the stipulated period of 30 days | (i) 572,02,585 (ii) 471,970 | 21,570 | |
| 795 | Syed Shafiullah Badsha | Jul/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | 7 years 7 months 20 days | delay in submission of FCTRS | The resident seller, also a Director of the company has transferred 25000 equity shares of ₹10/- each at a premium of ₹1.47 amounting to ₹ 2,86,750/- to Non Resident buyer. The applicant filed the form FC TRS with the Authorised Dealer beyond the stipulated period of 60 days | 286,750 | 17,670 | |
| 796 | Zenera Pharma Private Limited | Jul/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 1 days to 3 months 24 days (ii)2 months | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity Issue2 Delay in submission of Form FCGPR | The company is engaged in the business of manufacture of allopathic pharmaceutical preparations. The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Authorized Dealer Bank later than 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs with RBI beyond the stipulated period of 30 days | (i) 18,81,77,43,938 (ii) 16,94,00,000 | 83,423 | |
| 797 | PSK Research Foundation | Jul/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 3 days to 5 months 23 days (ii)1 months 2 days to 1 years 4 months 1 days (iii) 1 years 3 months 6 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity Issue2 Delay in submission of Form FCGPR (iii) delay in receipt of remittance after issue of shares towards subscription to MOA of the company | The company is engaged in the promotion of technology intensive research projects by providing incubation for prospective ideas and projects, to facilitate the research projects with infrastructure requirements, technical consultation and guidance, business consultation and guidance, and financially where necessary to help them to spin off into commercially viable businesses. The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Authorized Dealer Bank later than 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs with RBI beyond the stipulated period of 30 days. The company delayed in receipt of remittance after issue of shares towards subscription to Memorandum of Association of the company beyond one year | (i) 39,19,372 (ii) 26,20,290 (iii) 80,000 | 34,600 | |
| 798 | Ccube Fintech Global Services Private Limited | Jul/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 1 months 18 days to 1 years 1 months 18 days (ii)1 months to 4 months 5 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity Issue2 Delay in submission of Form FCGPR | The company is engaged in the business of establishment of software development centers to develop software products and designing of application packages. The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Authorized Dealer Bank later than 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs with RBI beyond the stipulated period of 30 days | (i) 205,83,96,850 (ii) 1,49,00,069 | 37,490 | |
| 799 | Maxking (India)Footwear Private Limited | Jul/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 2 days to 1 months 9 days (ii)1 days to 29 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity Issue2 Delay in submission of Form FCGPR | The company is engaged in the business of manufacturing leather footwear such as shoes, sandals, chappals etc. The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Authorized Dealer Bank later than 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs with RBI beyond the stipulated period of 30 days. | (i) 10,86,29,000 (ii) 581,41,000 | 49,140 | |
| 800 | Watlow Thermal Solutions India Private Limited | Jul/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 2 days to 1 months 26 days (ii)20 days to 2 months 09 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity Issue2 Delay in submission of Form FCGPR | The company is engaged in the business of manufactures, merchants, importers and exporters for the sale and purchase of industrial electric heaters, machinery and appliances for industrial, commercial, scientific and other purposes. The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Authorized Dealer Bank later than 30 days from the date of receipt of the amount of consideration.The company allotted equity shares and filed FC-GPRs with RBI beyond the stipulated period of 30 days. | (i) 125,00,000 (ii) 107,22,348 | 23,560 | |
| 801 | Kalluri Punnaiah Choudary | Jul/2017 | FDI | FEMA 20/2000-RB | FDI- Delay in filing | 2 years 6 months 7 days to 2 years 7 months 9 days | Delay in filing FCTRS | The applicant, a resident Indian, received foreign inward remittance from M/s. AdeptPros Inc, New york towards Stock Purchase Agreement of 6000 equity shares which he held in AdeptPros IT solutions Pvt. Ltd. The applicant delayed in the filing of FCTRS with delays beyond 60 days from the date of receipt of consideration in contravention of Regulation 10 (A) (b) (i) read with Paragraph 10 of FEMA 20. | 6,000,000 | 34,710 | |
| 802 | Inficold India Private Limited | Jul/2017 | FDI | FEMA 20/2000-RB | FDI- Delay in filing | 191 days. | refund of excess money to Foreign Exchange Management (Transfer or Issue of Security) by a Person Resident outside India | The contraventions sought to be compounded is: paragraph 8 of Schedule- 1 (refund of excess money) to Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 notified, vide Notification No. FEMA 20/2000- RB dated May 03, 2000 and as amended from time to time (hereinafter referred to Notification No. FEMA 20/2000- RB). | 3,400 | 267 | |
| 803 | Kangaroo Kids Education Limited | Jul/2017 | FDI | FEMA 20/2000-RB | FDI- Delay in filing | I | delay in filing Annual Return on Foreign Liabilities and Assets | The applicant company was incorporated on December 27, 2001, under the Companies Act, 1956. Its main activity is to establish, promote, maintain, organize, undertake, develop, conduct and to run in India or abroad Playschools, Nursery, Junior KG, Senior KG or Educational Institution of any sort. The applicant company has filed the Annual Return on Foreign Liabilities and Assets (FLA return) to the Reserve Bank for the Financial Year 2011-12, 2014-15 and 2015-16 after July 15 of the respective years which is a contravention in terms of Paragraph 9(2) of Schedule I to FEMA 20/2000-RB dated May 3, 2000 read with A.P. (DIR Series) Circular No. 40 dated April 20, 2007. Hence, the delay in filing the FLA return had occurred on three occasions. | 11,975,000 | 30,000 | |
| 804 | Transocean Support Services Pvt Ltd | Jul/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 7 years 6 months and 11 days (ii) 3 months and 26 days (iii) 2 months 26 days to 5 years 7 months and 7 days | (i) neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India within 180 days of the receipt of the inward remittance Issue2 delay in reporting receipt of foreign inward remittance towards subscription to equity; and Issue3 delay in submission of Form FCGPRs | The applicant is engaged in the business of accounting, auditing, payables and other support functions and provide consulting, advisory, counseling and other similar services relating thereto in all areas of industry, commerce and business to Indian and Foreign governments, States, dominions, sovereigns, public authorities or bodies, schools, colleges, universities, or any person, firm, company, corporation, body corporate, society, association of person, body, forum, whether incorporated or not, whether in the private or public sector and whether profit oriented or not. The applicant received foreign inward remittances from foreign investors. | (i) 9057000 (ii) 100000 (iii) 9157000 | 210,891 | |
| 805 | E.E.Blyth Exim India Private Ltd | Aug/2017 | Establishment of BO/LO/PO in India | FEMA 22/2000-RB | To establish branch or Liaison Office undertaking activity not approved by RBI | (i) 9 years 3 months and 1 days | The contravention sought to be compounded relate to transfer of assets by a Branch Office | The applicant, M/s Blyth Exim (India) Pvt. Ltd., is a wholly-owned subsidiary of M/s E.E.Blyth & Co. Ltd., a company formed and registered under the laws of UK and is engaged in the business of export /import of granite /marble /sandstone, metals /minerals etc. M/s E. E. Blyth & Co. Ltd, was granted Reserve Bank’s permission vide letter No. FE.CO.FID.12767 /10.82.958/2006-07 dated December 12, 2006 to establish its Branch Office at Mumbai, Maharashtra. Since the Branch Office of M/s E.E.Blyth & Co. Ltd. in India is closed, the captioned application has been filed by M/s Blyth Exim (India) Pvt. Ltd. on behalf of the Branch Office. The Branch Office, prior to its closure in India, had transferred funds amounting Rs. 1,70,000/- (Rupees one lakh seventy thousand only) to M/s Blyth Exim (India) Pvt. Ltd. on November 27, 2007 without prior approval of the Reserve Bank | 170,000 | 31,300 | |
| 806 | H.B.Fuller Adhesives Deutschland GMBH Branch Office | Aug/2017 | Establishment of BO/LO/PO in India | FEMA 22/2000-RB | To establish branch or Liaison Office undertaking activity not approved by RBI | 4 years 5 months and 25 days | Establishment of Branch Office / Liaison Office to undertake activity approved by RBI | The applicant company engaged in the business of manufacturing Adhesives, especially Resin and Chemicals and selling /trading of Adhesives was granted Reserve Bank’s permission to establish its Branch Office at Mumbai, Maharashtra. | 400,000 | 32,000 | |
| 807 | Stros Esquire Elevators And Hoists Pvt Ltd | Aug/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 3 -45 days (ii) 14 to 116 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The company is engaged in manufacturing of other lifting and handling equipment. The applicant company has received total seven inflows amounting to ₹3,07,44,860/- from foreign investors under automatic route and reported the same to Reserve Bank of India beyond the prescribed period of 30 days from the date of receipt of the amount of consideration. | (i) 129,25,567 (ii) 218,48,000 | 25,975 | |
| 808 | Getrag Transmissions India Pvt Ltd | Aug/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 75 days (ii) 25 to 182 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The company is engaged in manufacturing of automotive parts and other components. The applicant company has received total eight inflows amounting to ₹74,91,99,990/- from foreign investors under automatic route and reported the same to Reserve Bank of India beyond the prescribed period of 30 days from the date of receipt of the amount of consideration. | (i) 11,60,00,000 (ii) 27,22,85,000 | 115,500 | |
| 809 | Calumite India Manufacturing Pvt Ltd | Aug/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 52 to 913 days (ii) 12 to 1236 days (iii) 55 to 263 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR (iii) Delay in issue of shares | The company is engaged in manufacturing of Calumite, which is a main raw material for glass industries. The applicant company has received total eight inflows amounting to ₹93,10,410/- from foreign investors under automatic route and reported the same to Reserve Bank of India beyond the prescribed period of 30 days from the date of receipt of the amount of consideration. | (i) 34,61,093 (ii) 27,97,840 (iii) 187,680 | 52,789 | |
| 810 | Acciona Energy India Pvt Ltd | Aug/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 13 days to 1 m 11 days (ii) 1 months and 23 days (iii) 3 days to 1 m and 10 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay in issue of shares (iii) Delay In filing Form FCGPR | The company is engaged in the business of providing business and management consultancy services to its group companies and also engaged in business of managing and developing wind farms and rendering support services to companies in India. The applicant had received funds towards share application money from foreign investor. The applicant reported receipt of remittances to the Reserve Bank of India / Authorized Dealer Bank beyond the stipulated time of 30 days from the date of receipt of the amount of consideration. | (i) 33,38,52,395 (ii) 16,37,50,000 (iii) 40,47,09,000 | 838,550 | |
| 811 | IQGateway Private Limited | Aug/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 2 months 20 days to 2 months 28 days (ii) 3 years 7 months and 11 days (iii) 4 years | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR (iii) Delay in filing FLA | The company is engaged in the business of writing, modifying, testing of computer program to meet the needs of a particular client excluding web-page designing. The applicant had received funds towards share application money from foreign investor. The applicant had reported receipt of remittances to the Reserve Bank of India beyond the stipulated time of 30 days from the date of receipt of the amount of consideration.The applicant company had not filed the Annual Return on Foreign Liabilities and Assets (FLA Return) to the Reserve Bank for 2013-14, 2014-15, 2015-16, and 2016-17, on or before July 15 of each year | (i) 753,145 (ii) 750,000 | 65,200 | |
| 812 | Zipdial Mobile Solutions Pvt Ltd | Aug/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 5 days to 3 years 9 m (ii) (a) 2 years and 3 days to 3 years 4 months and 6 days (b) 3 days (c ) 9 days (iii) 4 days to 3 years 7 months and 19 days (iv) 1 years 2 months and twenty days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay in issue of shares (iii) Delay In filing Form FCGPR (iv) Delay in reporting of allotment of shares | The main business activity of the company is “to develop, maintain applications including software applications, web applications, web portal, mobile applications for product marketing, market research.” The applicant had received funds towards share application money from foreign investors and reported the same to Reserve Bank of India beyond the prescribed period of 30 days from the date of receipt of the amount of consideration.The company had allotted equity shares to the foreign investors. The applicant filed the Form FC-GPRs on allotment of shares with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank with a delay beyond the prescribed period of 30 days | (i) 68344872 (ii) (a) 1367478 (b) 19250000 (c ) 97922 (iii) 100899282 (iv) 157152 | 311,200 | |
| 813 | Waggener Edstrom Worldwide Communications Pvt Ltd | Aug/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 1 months and 9 days to 1 years and 1 days (ii) 4 days (iii) 1 days to 8 months and 3 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay in issue of shares (iii) Delay In filing Form FCGPR | The company is engaged in the business of information technology and computer service activities. The applicant had received funds towards share application money from foreign investor. The applicant had reported receipt of remittances to the Reserve Bank of India beyond the stipulated time of 30 days from the date of receipt of the amount of consideration. The applicant filed the Form FC-GPRs on allotment of shares with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank beyond the prescribed period of 30 days in respect of allotment of shares | (i) 401,33,876 (ii) 33,877 (iii) 551,00,000 | 133,140 | |
| 814 | Bhalakh Realtors Pvt Ltd | Aug/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 1 years 5 months 21 days (ii) 4 days to 7 months 1 days (iii) 1 months 19 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR (iii) Delay in issue of shares | The company is is engaged in Business of development of township. The company has been earlier compounded for contraventions of Paragraphs 9(1) A vide compounding order. Subsequent to the order, the applicant received foreign inward remittances from M/s Jarvinia (Cyprus) Ltd., Cyprus towards subscription to equity shares and reported the same to the Reserve Bank beyond the prescribed period of 30 days from the date of receipt of consideration. | (i) 31,10,115 (ii) 570,73,900 (iii) 725,500 | 97,971 | |
| 815 | Ascend Telecom Infrastructure Pvt Ltd | Aug/2017 | ODI | FEMA 120/RB-2004 | ODI- Non Compliance of Provision | 2 years | (i) Disinvestment in the overseas Joint Venture. (ii) Non Submission of APR relating to JV | The company was in the business of providing ready to use site infrastructure for telecom operators or others in need of such infrastructure. the management of the JV was non-cooperative and did not share the financial and other related documents with the company despite many efforts made by the Indian Party. Resultantly, it was never in a position to file the APRs. When the company failed to obtain any information from its JV partners, in the year 2015, the management of the Indian Party decided to write off the entire amount of investment from its books of accounts and did so in the Balance Sheet as on March 31, 2015, without approval of the Reserve Bank. | 4,823,456 | 136,529 | |
| 816 | Boccard India Pvt Ltd | Aug/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 1 days to 1 months 16 days (ii) 3 months 18 days (iii) 2 months 1 dat | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR (iii) Delay in issue of shares | The company is engaged in business of architectural and engineering activities and related technical consultancy. The applicant received foreign inward remittances from (i) M/s GHBI Holding BV, Netherlands (ii) M/s Boccard (M) SDN BHD, Malaysia towards subscription to equity shares and reported the same to the Reserve Bankbeyond the prescribed period of 30 days from the date of receipt of consideration. | (i) 995980 (ii) 1000000 (iii) 4620 | 21,212 | |
| 817 | Ellucian Higher Education Systems India Pvt Ltd | Aug/2017 | ECB | FEMA 3/2000-RB | ECB-Non Compliance of Provision | 1 years 2 months | (i) availing ECB from a nonrecognized lender, (ii) availing ECB for an enduse that was not permitted (iii) noncompliance with average maturity period guidelines, (iv) receipt of ECB into EEFC account, (v) drawdown of External Commercial Borrowing (ECB) before obtaining Loan Registration Number (LRN) from the Reserve Bank of India (RBI) and (vi) delay in meeting the reporting requirements. | The applicant is engaged in the business of providing software development services, professional services and application support services to all Ellucian group entities. The applicant executed a lease agreement for its office premises, for which it was required to place a security deposit of INR 3,43,65,600 with the lesser. Due to paucity of liquid funds at the time, the applicant borrowed USD one million (INR 4,93,18,000), from M/s Ellucian Support Global, a group entity of the applicant, and received inward remittance for the same amount on February13, 2012. The group entity was not a recognized lender under the automatic rule as per the provisions of FEMA, and the borrowing was thus in contravention of provisions of FEMA | 49,318,000 | 5,367,097 | |
| 818 | Nektan Gaming Technologies Private Limited | Aug/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 1 years 2 months 16 days (ii) 11 months 14 days | (i) Delay In filing Form FCGPR (ii) Delay in allotment of shares | The company is engaged in the business of data processing activities including report writing. The applicant received a foreign inward remittance of ₹ 99,990/- on 08.11.2016 from M/s Nektan Plc, Gibraltar towards subscription to equity shares and reported the same to Reserve Bank within the stipulated period of 30 days. The applicant filed form FC-GPR beyond the prescribed limit in respect of allotment | (i) 99,990 (ii) 99,990 | 16,248 | |
| 819 | Gruppo Biokimica India Pvt Ltd | Aug/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 2 days to 4 months 24 days (ii) 14 days to 6 months 8 days (iii) 3 years 4 months 18 days to 5 years 4 months 12 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR (iii)Taking on record the transfer of shares in the books of the company without certified FC TRS | The applicant is engaged in Business of manufacture of chemical products or preparations of a kind used in the textile, paper, leather or like industries. The applicant received foreign inward remittances from foreign investors towards subscription to equity shares and reported the same to the Reserve Bankbeyond the prescribed period of 30 days from the date of receipt of consideration.The applicant filed the form FC-GPR beyond 30 days from the date of issue of shares to person resident outside India. The company has taken the transfer of shares on record without certified FC TRS. The FC TRS were submitted with the AD and the same was certified beyond 60 days from the date of receipt of the amount of consideration. | (i) 60,21,674 (ii) 126,43,400 (iii) 100,000 | 45,525 | |
| 820 | TPF Software India Pvt Ltd | Aug/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 20 days to 10 years 10 months 9 days (ii) 9 years 8 months 10 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The applicant is engaged in business of Providing software support and maintenance to the clients. The applicant received foreign inward remittances from foreign investors towards subscription to equity shares and reported the same to the Reserve Bankbeyond the prescribed period of 30 days from the date of receipt of consideration.The applicant filed the form FC-GPR beyond 30 days from the date of issue of shares to person resident outside India | (i) 24,00,000 (ii) 24,00,000 | 119,550 | |
| 821 | Kidim India Pvt Ltd | Aug/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 13 days to 10 years 2 months 23 days (ii) 1 days to 1 years 5 months 28 days (iii) 1 months 12 days to 1 years 2 months 17 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR (iii) Delay in allotment of shares | The applicant is is engaged in Business of Hotels, rooming houses, camps and other lodging places. The applicant received foreign inward remittances from foreign investors towards subscription to equity shares and reported the same to the Reserve Bankbeyond the prescribed period of 30 days from the date of receipt of consideration.The applicant filed the form FC-GPR beyond 30 days from the date of issue of shares to person resident outside India | (i) 11,07,45,096 (ii) 907,73,903 (iii) 753,54,923 | 1,343,599 | |
| 822 | Trusted Aerospace Engineering Limited | Aug/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 10 m 22 days (ii) 1 m 28 days to 5 m 6 days (iii) 1 years 26 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR (iii) Delay in allotment of shares | The applicant is engaged in business of manufacture of parts and accessories n.e.c. for aircraft or spacecraft. The applicant received foreign inward remittances from foreign investors towards subscription to equity shares and reported the same to the Reserve Bankbeyond the prescribed period of 30 days from the date of receipt of consideration.The applicant filed the form FC-GPR beyond 30 days from the date of issue of shares to person resident outside India | (i) 45,79,679 (ii) 392,11,876 (iii) 346,32,358 | 227,456 | |
| 823 | Yoe Yoe Electronics India Pvt Ltd | Aug/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 3 days to 10 months 25 days (ii) 4 months 28 days to 8 months 15 days (iii) 7 days to 5 months 26 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR (iii) Delay in allotment of shares | The applicant is engaged in Business of Manufacture of other electronic consumer goods n.e.c. The applicant received foreign inward remittances from foreign investors towards subscription to equity shares and reported the same to the Reserve Bankbeyond the prescribed period of 30 days from the date of receipt of consideration.The applicant filed the form FC-GPR beyond 30 days from the date of issue of shares to person resident outside India | (i) 1,58,37,680 (ii) 8,85,18,690 (iii) 8,85,18,690 | 179,671 | |
| 824 | Caring Elders Technology Private Limited | Aug/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 1 months 16 days to 9 m 26 days (ii) 1 m 26 days to 1 years 7 m 8 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The applicant is engaged in business of other information technology and computer service activities n.e.c. The applicant received foreign inward remittances from foreign investors towards subscription to equity shares and reported the same to the Reserve Bankbeyond the prescribed period of 30 days from the date of receipt of consideration.The applicant filed the form FC-GPR beyond 30 days from the date of issue of shares to person resident outside India | (i) 1841732 (ii) 3906500 | 29,430 | |
| 825 | Straits Food Chain Pvt Ltd | Aug/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | 2 months 23 days to 9 months 1 days | Delay In filing Form FCGPR | The applicany company is engaged in Business of cafeterias, fast-food restaurants and other food preparation in market stalls. The applicant received foreign inward remittances from Mr. Sheikh Babu Nooruddin, Singapore towards subscription to equity shares and reported the same to the Reserve Bank within the prescribed period of 30 days from the date of receipt of consideration.The applicant filed the form FC-GPR beyond 30 days from the date of issue of shares to person resident outside India | 10,050,780 | 14,635 | |
| 826 | Drivestream India Pvt Ltd | Aug/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 3 years 11 months 12 days to 14 years 9 days (ii) 14 years 2 months 8 days | (i) Delay In filing Form FCGPR (ii) Delay in allotment of shares | The applicany company is engaged in in the business of providing software support and maintenance to the clients. The applicant received foreign inward remittances towards subscription to equity shares and reported the same to the Reserve Bank within the prescribed period of 30 days from the date of receipt of consideration.The applicant filed the form FC-GPR beyond 30 days from the date of issue of shares to person resident outside India | (i) 99,61,000 (ii) 199,000 | 118,448 | |
| 827 | Modria India Pvt Ltd | Aug/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 5 months 19 days to 1 years 1 months 13 days (ii) 3 months 25 days to 1 years 6 months 6 days (iii) 4 months 29 days to 1 years 20 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR (iii) Delay in allotment of shares | The company is engaged in Business of software supply services. The applicant had received funds towards share application money from foreign investor. The applicant had reported receipt of remittances to the Reserve Bank of India beyond the stipulated time of 30 days from the date of receipt of the amount of consideration. The applicant filed the Form FC-GPRs on allotment of shares with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank beyond the prescribed period of 30 days in respect of allotment of shares | (i) 198,793 (ii) 198,290 (iii) 99,900 | 34,330 | |
| 828 | Pena4 Tech Solutions India Pvt Ltd | Aug/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 1 years 1 months 26 days to 2 years 6 months 4 days (ii) 1 years 3 months 21 days to 2 years 9 months 9 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The company is engaged in the business of medical coding, auditing services, software/IT services and data processing services.The applicant had received funds towards share application money from foreign investor. The applicant had reported receipt of remittances to the Reserve Bank of India beyond the stipulated time of 30 days from the date of receipt of the amount of consideration. The applicant filed the Form FC-GPRs on allotment of shares with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank beyond the prescribed period of 30 days in respect of allotment of shares. | (i) 2,59,66,504 (ii) 2,59,66,483 | 142,430 | |
| 829 | Transcon Life Spaces Pvt Ltd | Aug/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 3 months 09 days to 6 months 27 days (ii) 24 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The companyis engaged in the business of construction of residential buildings.The applicant had received funds towards share application money from foreign investor. The applicant had reported receipt of remittances to the Reserve Bank of India beyond the stipulated time of 30 days from the date of receipt of the amount of consideration. The applicant filed the Form FC-GPRs on allotment of shares with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank beyond the prescribed period of 30 days in respect of allotment of shares. | (i) 90,62,973 (ii) 90,62,970 | 26,275 | |
| 830 | EA Labs India Pvt Ltd | Aug/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 1 months 2 days to 8 months 9 days (ii) 8 months 5 days to 11 months 4 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The company is engaged in the business of providing software support and maintenance to the clients.The applicant had received funds towards share application money from foreign investor. The applicant had reported receipt of remittances to the Reserve Bank of India beyond the stipulated time of 30 days from the date of receipt of the amount of consideration. The applicant filed the Form FC-GPRs on allotment of shares with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank beyond the prescribed period of 30 days in respect of allotment of shares. | (i) 1,74,87,002 (ii) 1,67,23,250 | 51,550 | |
| 831 | China Coal No.3 Mining (India) Pvt Ltd | Aug/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 1 months 8 days to 3 months 21 days (ii) 1 months 29 days to 3 months 22 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The company is engaged in the business of providing software support and maintenance to the clients.The applicant had received funds towards share application money from foreign investor. The applicant had reported receipt of remittances to the Reserve Bank of India beyond the stipulated time of 30 days from the date of receipt of the amount of consideration. The applicant filed the Form FC-GPRs on allotment of shares with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank beyond the prescribed period of 30 days in respect of allotment of shares. | (i) 5470348 (ii) 71840272 | 32,830 | |
| 832 | Walled City Hotels Pvt. Ltd. | Aug/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 6 days to 1 years 10 months and 11 days (ii) 1 months 6 days to 3 months and 21 days (iii) 3 days to 1 years 3 months and 9 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR (iii) Delay in allotment of shares | The company is is engaged in the business of hotels, holiday resorts, motels, inns, holiday homes etc. and other amusements facilities.The applicant had received funds towards share application money from foreign investor. The applicant had reported receipt of remittances to the Reserve Bank of India beyond the stipulated time of 30 days from the date of receipt of the amount of consideration. The applicant filed the Form FC-GPRs on allotment of shares with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank beyond the prescribed period of 30 days in respect of allotment of shares.The company allotted shares beyond the prescribed period of 180 days without taking prior approval of RBI. | (i) 13,01,45,097 (ii) 52,68,96,853 (iii) 184,16,759 | 341,339 | |
| 833 | Short Breaks Pvt Ltd | Aug/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 2 months 12 days to 11 months and 16 days (ii) 5 months 14 days to 1 years 3 months 26 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The company is engaged in the business of providing software support and maintenance to the clients.The applicant had received funds towards share application money from foreign investor. The applicant had reported receipt of remittances to the Reserve Bank of India beyond the stipulated time of 30 days from the date of receipt of the amount of consideration. The applicant filed the Form FC-GPRs on allotment of shares with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank beyond the prescribed period of 30 days in respect of allotment of shares. | (i) 1650000 (ii) 1650000 | 31,005 | |
| 834 | Affle India Pvt Ltd | Aug/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 14 days to 5 years 3 months 29 days (ii) 7 months 2 days (iii) 3 months 13 days to 4 years 4 months 28 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR (iii) Delay in allotment of shares | The applicant company engaged in the business of delivery of Mobile Information Solutions to Mobile Phone Subscribers across different Mobile Phone Operators. The applicant had received funds towards share application money from foreign investor. The applicant had reported receipt of remittances to the Reserve Bank of India beyond the stipulated time of 30 days from the date of receipt of the amount of consideration. The applicant filed the Form FC-GPRs on allotment of shares with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank beyond the prescribed period of 30 days in respect of allotment of shares.The company allotted shares beyond the prescribed period of 180 days without taking prior approval of RBI. | (i) 84571952 (ii) 9660200 (iii) 52986863 | 460,266 | |
| 835 | Brattle Foods Private Limited | Aug/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 2 days to 3 years 10 months 6 days (ii) 2 days to 3 years 10 months 16 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The applicant company is engaged in in the business of enabling infrastructure for businesses in the foods processing sector, especially for fruits and vegetables processing meats processing and diary processing industries. The applicant had received funds towards share application money from foreign investor. The applicant had reported receipt of remittances to the Reserve Bank of India beyond the stipulated time of 30 days from the date of receipt of the amount of consideration. The applicant filed the Form FC-GPRs on allotment of shares with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank beyond the prescribed period of 30 days in respect of allotment of shares | (i) 181313453 (ii) 192436341 | 564,905 | |
| 836 | Goqii Technologies Pvt Ltd | Aug/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 10 days to 3 months 21 days (ii) 1 months 4 days to 2 months 28 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The applicant company is engaged in the business of developing codes or software that assist gadgets and instruments to monitor, provide information in relation to human health with regards to various organs of human body and surrounding environment; design, maintain and update website for such products and carry out, organise, manage global fitness programmes with the help of specialist and professional as well as provide back office services to its clients . The applicant had received funds towards share application money from foreign investor. The applicant had reported receipt of remittances to the Reserve Bank of India beyond the stipulated time of 30 days from the date of receipt of the amount of consideration. The applicant filed the Form FC-GPRs on allotment of shares with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank beyond the prescribed period of 30 days in respect of allotment of shares | (i) 74446633 (ii) 88220074 | 60,500 | |
| 837 | Maico Ventilation Pvt.Ltd. | Aug/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 5 years 8 months 6 days to 5 years 11 months 25 days (ii) 11 days to 6 years 4 months 7 days (iii) 1 months 5 days to 3 months and 6 days | (i) Delay in allotment of shares (ii) Delay in reporting receipt of funds for issue of shares (iii) Delay In filing Form FCGPR | The applicant company is engaged in the business to design, to act as manufacturers, buyers, sellers, importers, exporters and agents for all kinds of air-conditioning plants, accessories, articles, fittings, such as all types of ventilation fans. The applicant had received funds towards share application money from foreign investor. The applicant had reported receipt of remittances to the Reserve Bank of India beyond the stipulated time of 30 days from the date of receipt of the amount of consideration. The applicant filed the Form FC-GPRs on allotment of shares with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank beyond the prescribed period of 30 days in respect of allotment of shares | (i) 2650000 (ii) 30150000 (iii) 54999318 | 127,360 | |
| 838 | Mach 7 Technologies Pvt Ltd | Aug/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 4 years 7 months 9 days to 7 years 5 months 15 days (ii) 4 years 2 months 26 days to 7 years 2 months 24 days | (i) Delay in allotment of shares (ii) Delay in reporting receipt of funds for issue of shares | The applicant company engaged in carrying on in India or abroad business in the virtual world, cyberspace world, real world or otherwise in the fields of manufacturing, developing, importing, exporting, financing, buying, selling, distributing, transferring leasing, hiring and to act as a consultant, agent, broker, franchiser, job worker, representative, adviser or otherwise to deal in all kinds of computer software. The applicant received foreign inward remittance from M/s ZenOpenWorks Pte Ltd., Singapore and Mach7 Technologies (ASPAC) Pte. Ltd., Singapore towards equity / preference share capital and reported the same to the Reserve Bank beyond the prescribed period of 30 days from the date of receipt of consideration. The Company approached the Reserve Bank of India on February 16, 2016 seeking approval to allot shares beyond the prescribed time period of 180 days. | (i) 32450310 (ii) 32450317 | 510,226 | |
| 839 | Minaean Habitat India Pvt Ltd | Aug/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 1 years 8 months 7 days to 7 years 10 months 14 days (ii) 2 months 7 days to 4 years 10 months 4 days (iii) 1 years 4 months 7 days to 6 years 5 months 27 days | (i) Delay in allotment of shares (ii) Delay in reporting receipt of funds for issue of shares (iii) Delay In filing Form FCGPR | The applicant company is engaged to carry on business of builders, developers, contractors, buying, selling and otherwise dealing in land (leasehold or freehold) and buildings or flats or tenements or residential, commercial, industrial premises. The applicant had received funds towards share application money from foreign investor. The applicant had reported receipt of remittances to the Reserve Bank of India beyond the stipulated time of 30 days from the date of receipt of the amount of consideration. The applicant filed the Form FC-GPRs on allotment of shares with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank beyond the prescribed period of 30 days in respect of allotment of shares. | (i) 187325143 (ii) 188073187 (iii) 130373386 | 2,935,462 | |
| 840 | Imagination Edutainment India Pvt Ltd | Aug/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 6 days to 9 months and 24 days (ii) 7 days to 7 months and 25 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The companyis engaged in the business to establish, exploit and operate in India and abroad all kinds of establishments, parks and Leisure Centers that offer all kind of services directed to entertainment, Fun, Development and Learning of individuals as well as the commercialization of products for the entertainment of people as well as all that are considered necessary for the development of such Entertainment Centers. The applicant received foreign inward remittance from M/s Kidz Inc Pte. Ltd., Singapore towards equity / preference share capital and reported the same to the Reserve Bank beyond the prescribed period of 30 days from the date of receipt of consideration. | (i) 411814047 (ii) 870218510 | 395,245 | |
| 841 | Enaltec Labs Pvt Ltd | Aug/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | 4 years 9 months 21 days | Issue1 Failure to obtain FIPB approval for issue of shares | The applicant company is engaged in the business of Research and Development manufacturers, refiners, importers, exporters, traders, packers, developers of technologies for all types of pharmaceutical ingredients and intermediaries, medicines and medical preparations, medicinal drugs, bulk drugs, formulations, laboratory raw materials an bio-chemicals, etc.The applicant received foreign inward remittance and reported the same to RBI within the prescribed period. The company allotted convertible Preference Shares without obtaining prior approval of FIPB. | 22,749,900 | 209,249 | |
| 842 | Hill & Smith Infrastructure Products India Pvt. Ltd | Aug/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | 18 days to 2 months and 8 days | (i) Delay in reporting receipt of funds for issue of shares | The company is engaged in the business of manufacturing and dealing with infrastructure products for roads, rails, utilities and securities.The applicant had received funds towards share application money from foreign investor. The applicant had reported receipt of remittances to the Reserve Bank of India beyond the stipulated time of 30 days from the date of receipt of the amount of consideration | 45,192,350 | 24,250 | |
| 843 | Red Brick Lane Marketing Solutions Private Limited | Aug/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 21 days to 6 months and 23 days. (ii) 25 days to 2 months and 14 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The company is engaged in the business of providing Digital Signal Processing, TV Analytics and Cross Platform Advertising service.The applicant had received funds towards share application money from foreign investor. The applicant had reported receipt of remittances to the Reserve Bank of India beyond the stipulated time of 30 days from the date of receipt of the amount of consideration. The applicant filed the Form FC-GPRs on allotment of shares with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank beyond the prescribed period of 30 days in respect of allotment of shares. | (i) 17,11,252 (ii) 65,95,345 | 22,720 | |
| 844 | APL Logistics Vascor Automotive Pvt. Ltd. | Aug/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 98,73,49,102 (ii) 1,39,50,66,900 | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The company is a third party logistics specialist, providing finished vehicle distribution on all India basis through private rail car on Indian Railway network..The applicant had received funds towards share application money from foreign investor. The applicant had reported receipt of remittances to the Reserve Bank of India beyond the stipulated time of 30 days from the date of receipt of the amount of consideration. The applicant filed the Form FC-GPRs on allotment of shares with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank beyond the prescribed period of 30 day in respect of allotment of shares. | (i) 17,11,252 (ii) 65,95,345 | 555,000 | |
| 845 | Tara Tourism And Hotels (Goa) Pvt Ltd | Aug/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | 10 years 4 months | Delay in allotment of shares | The applicant company is engaged with the main object of undertaking the business of running hotels, rooming houses, camps and other lodging places. The applicant received foreign inward remittances towards issue of equity shares within the prescribed period. The shares were not alloted beyond the prescribed period of 180 days from the date of receipt of the inward remittance. | (i) 16,42,00,468 (ii) 12,63,87,100 (iii) 981,53,477 | 32,558 | |
| 846 | Wilton Weavers Private Limited | Aug/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 6 m to 12 years (ii) 15 days to 2.5 years (iii) 8 days to 7.5 years | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR (iii) Delay in allotment of shares | The applicant is engaged in the business of manufacturing and exporting of floor coverings made from fibers.The applicant had received funds towards share application money from foreign investor. The applicant had reported receipt of remittances to the Reserve Bank of India beyond the stipulated time of 30 days from the date of receipt of the amount of consideration. The applicant filed the Form FC-GPRs on allotment of shares with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank beyond the prescribed period of 30 days in respect of allotment of shares.The company allotted shares beyond the prescribed period of 180 days without taking prior approval of RBI. | (i) 16,42,00,468 (ii) 12,63,87,100 (iii) 981,53,477 | 2,646,345 | |
| 847 | Deepak Chamanlal Kamani | Aug/2017 | FDI | FEMA 20/2000-RB | Delay in reporting transfer of shares | (i) 7.5 years | Delay in reporting the transfer of shares, with respect to nonrepatriable shares | The applicant, namely, Shri Deepak Chamanlal Kamani, a non-resident promoter of the Zuri Group held reaptriable as well as non-repatriable shares in Zuri group companies. The applicant transferred the shares to Charade (Mauritius) limited. The transfer of shares was pursuant to RBI approval, however, Form FC-TRS with respect to the non-repatriable shares, was not filed. This was in contravention of Section 6(3)(b) of FEMA, 1999, as then applicable. | 45,032,767 | 376,667 | |
| 848 | Rashmi Chamanlal Kamani | Aug/2017 | FDI | FEMA 20/2000-RB | Delay in reporting transfer of shares | (i) 7.5 years | Delay in reporting the transfer of shares, with respect to nonrepatriable shares | The applicant, namely, Shri Deepak Chamanlal Kamani, a non-resident promoter of the Zuri Group held reaptriable as well as non-repatriable shares in Zuri group companies. The applicant transferred the shares to Charade (Mauritius) limited. The transfer of shares was pursuant to RBI approval, however, Form FC-TRS with respect to the non-repatriable shares, was not filed. This was in contravention of Section 6(3)(b) of FEMA, 1999, as then applicable. | 45,195,247 | 376,667 | |
| 849 | Zuri Hospitality Pvt Ltd | Aug/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 6.5 years (ii) 7.5 years | Delay in reporting the transfer of shares, with respect to nonrepatriable shares | The applicant is engaged in the business of running hotels, resorts etc., and allied activities. Troupe subscribed to an aggregare shares of the applicant. The subscibed shares were transferred without obtaining prior approval of RBI. Further, the sale proceeds in respect of the transferred shares (non-repatriable) were not received by Troupe in its NRO account. Despite the abovementioned irregularities and not meeting of the stipulated conditions for transfer of shares, the same was recorded in the books of the applicant and Laguna, in contravention of Regulation 4 of Notification No. FEMA 20/2000-RB | (i) 234,26,800 (ii) 902,28,014 | 693,333 | |
| 850 | Troupe International Ltd | Aug/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | 6.5 years | (i) Transfer of shares by an OCB (Overseas Corporate Body) to nonresident without prior approval of the Reserve Bank of India (ii) nonreceipt of sale proceeds with respect to nonrepatriable shares in the NROaccount of the applicant (iii) Delay in reporting the transfer of shares, with respect to nonrepatriable shares, within the stipulated time period | The applicant is engaged in the business of running hotels, resorts etc., and allied activities. Troupe subscribed to an aggregare shares of the applicant. The subscibed shares were transferred without obtaining prior approval of RBI. Further, the sale proceeds in respect of the transferred shares (non-repatriable) were not received by Troupe in its NRO account. Despite the abovementioned irregularities and not meeting of the stipulated conditions for transfer of shares, the same was recorded in the books of the applicant and Laguna, in contravention of Regulation 4 of Notification No. FEMA 20/2000-RB | 23,426,800 | 225,701 | |
| 851 | Exactus Corporation Private Ltd | Sep/2017 | ODI | FEMA 120/RB-2004 | Delay in reporting | (i) 10 years and 1 months (ii) 2 years and 6 months | (i) the cash payment of USD 1 by the CFO of the applicant on behalf of the applicant (ii) the delay in receipt of share certificate for its investment in its Wholly Owned Subsidiary | The applicant is engaged in the business of developing a comprehensive research resource computer data base and one stop information access portal in respect of Indian laws and the Indian legal system to be made available to subscribers and users via internet, World Wide Web and / or intranet access. | (i) 4700 (USD 1) (ii) 398604700 (USD 100001) | 73,968 | |
| 852 | Sepco Electric Power Construction Corporation | Sep/2017 | Establishment of BO/LO/PO in India | FEMA 22/2000-RB | Establishment of BO in India by resident outside India without taking prior approval of RBI | 1 years 7 months and 15 days | (i) Establishment of BO in India by resident outside India without taking prior approval of RBI (ii) permission of the Reserve Bank was not obtained for selling and transfer of assets of Project Office to a third party outside India. | The applicant, SEPCO Electric Power Construction Corporation was awarded contract by Talwandi Sabo Power Limited, Punjab, India for thermal power plant at Talwandi Sabo, Mansa, Punjab, India. Accordingly, SEPCO established Project Office in India. In order to execute work as per contract, SEPCO Project Office imported four (4) Gantry Cranes and two (2) Tower cranes from China, which were required for construction and erection activities at project site. After completion of work in India, these machines (assets of the Project Office) were sold and sent directly to Pakistani Branch Office of SEPCO instead of sending back to company’s Head Office in China, considering very high cost of logistics and very long duration to transfer these machines from India to Pakistani site via China. However, requisite permission of the Reserve Bank was not obtained for selling and transfer of these assets of Project Office to a third party outside India which amounts to contravention of Regulation 6(ii) of Notification No. FEMA.22 /2000-RB. Previously, this Project Office was also compounded on March 23, 2015 (CA No. 6/2014) for contravention of Regulation 3 and 4 of FEMA 22/2000-RB dated May 3, 2000 for opening of Project Office without Reserve Bank’s permission. It is added here that the present contravention of Regulation 6(ii) of FEMA 22 ibid. is different from the aforesaid earlier contravention | 124,915,345 | 467,204 | |
| 853 | Entropy Innovations Pvt.Ltd. | Sep/2017 | FDI | FEMA 20/2000-RB | FDI- Delay in filing | (i) 7 days to 9 months and 21 days (ii) 4 months 5 days to 10 months and 27 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The applicant company was engaged in the business of researching, designing, developing technology for manufacturing, assembling, dealing, importing, exporting, buying, selling, leasing, distributing, exchanging, converting, altering, processing, twisting or otherwise handling all kinds of machinery. The applicant reported receipt of remittances to the Reserve Bank and filed form FC-GPRs beyond the stipulated time of 30 days | (i) 31,26,575 (ii) 31,24,602 | 28,265 | |
| 854 | Shingora Textiles Limited | Sep/2017 | ODI | FEMA 120/RB-2004 | Breach Of Provisions and delay in submissions | (i)(a) 4 years and 2 months (i)(b) 3 years and 2 months (ii) 2 years and 4 months Iueb 4 1 years and 7 months Iue 5 1 years and 3 months | (i) Without submitting Form ODI, Part I investment in shares of Joint Venture (ii) Delay in submission of share certificates/ document as proof of investment made in the said JV (iii) Delay in submission of Annual Performance Report (APR) (iv) proceeds of disinvestment repatriated to India after 90 days (v) disinvestment with write off without submission of APR | The applicant is engaged in the business of manufacturing and sale of textile products and allied activities.The contraventions sought to be compounded are (i) Without submitting Form ODI, Part I investment in shares of Joint Venture (JV) Viz., Shingora Europe GmbH in Germany and remittance as loan to the said JV (ii) Delay in submission of share certificates/ document as proof of investment made in the said JV (ii) Delay in submission of Annual Performance Report (APR) for the years 2013 to The contraventions sought to be compounded are (i) Without submitting Form ODI, Part I investment in shares of Joint Venture (JV) Viz., Shingora Europe GmbH in Germany and remittance as loan to the said JV (ii) Delay in submission of share certificates/ document as proof of investment made in the said JV (ii) Delay in submission of Annual Performance Report (APR) for the years 2013 to | (i) 44137364 (Euro 625000) (ii) 1450485 (Euro 18000) (iii) 88742064 (Euro 1250000) (iv) 7200 (Euro 100) (v) 189178664 (Euro 2425000) | 135,220 | |
| 855 | ALP Overseas Pvt Ltd | Sep/2017 | ODI | FEMA 120/RB-2004 | ODI - Contravention of Provisions | (i) 7 years (ii) 2-4 years | (i) capitalisation into loan of the amount remitted by the applicant for meeting expenses of its wholly owned subsidiary (ii) writing off of the amount so capitalised without the approval of the Reserve Bank (iii) nonreporting of the amount capitalised to the authorised dealer in the prescribed Form ODI (Part I) (iv) delays in submission of Annual Performance Reports | The applicant is engaged in manufacturing of automobile sealing products. During the year 2009-10, the applicant remitted a total of US$ 40,175 (₹19,31,533/-) in thirteen installments towards payment of various expenses to third parties on behalf of its wholly owned subsidiary ALP Africa (Pty) Ltd. This amount was capitalised by converting it into loan to the WOS in the year 2010 without the approval of the Reserve Bank. The said amount was later written-off in the year 2013 and 2015, again without the approval of the Reserve Bank. Further, the applicant did not submit the Form ODI in respect of the amount capitalised in the year 2010. Also, the applicant did not submit APRs for the years 2010, 2011, 2012, 2015 and 2016 within the prescribed period. | (i) 1931533 (ii) 1931533 | 202,718 | |
| 856 | Bennett, Coleman And Company Ltd (I) | Sep/2017 | ODI | FEMA 120/RB-2004 | ODI - Contravention of Provisions | 1 years to 10 and a half years | (i) making overseas investment in optionally convertible redeemable preference shares without any prior equity contribution (ii) nonsubmission of (APR) within the stipulated time period (iii) non reporting of the disinvestment within the stipulated time period | The applicant is engaged in the business of proprietors and publishers of newspapers, journals, magazines etc. The applicant entered into a Share Purchase Agreement (SPA) with Affle Ltd., UK, its Joint Venture company, on October 12, 2006, for subscribing to 10,00,000 Series-A Redeemable Cumulative Convertible Preference Shares (RCCPS) amounting to USD 2 million. The applicant remitted USD 1 million towards 5 lakh RCCPS on November 1, 2006 and further USD 1 million on December 1, 2006, towards investment in additional 5 lakhs RCCPS. RCCPS is treated as a loan instrument under the extant ODI Regulations. The above investment was made by the applicant without having any prior equity contribution, in contravention of Regulation 6(4) of Notification No. FEMA 120/2004-RB. Further, the Annual Performance Reports (APRs) for the year 2007-09 was submitted with a delay beyond the stipulated time period, thus contravening Regulation 15 (iii) of Notification No. FEMA 120/2004-RB. | 88,961,500 | 747,211 | |
| 857 | Macson Color Chem Pvt Ltd | Sep/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Filing | 2 to 73 days | delay beyond 30 days in submission of Form FCGPR to the Reserve Bank | The company is engaged in business of manufacturing dyes and dyes intermediates. The Company has received seven inward remittances amounting to ₹3,86,97,432/- under the automatic route. Company has issued shares for the amount of ₹3,83,62,036/- and out of ₹3,35,396/- received as excess an amount of ₹3,35,392/- has been refunded by the company and remaining amount ₹4/- has been ignored by the Bank. Company reported the said inflows to Reserve Bank. The contraventions sought to be compounded is delay beyond 30 days in submission of Form FC-GPR to the Reserve Bank after issue of shares to a person resident outside India in terms of paragraph 9(1)(B) of Schedule 1 to Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 notified, vide Notification No. FEMA 20/2000-RB dated 3rd May 2000 and as amended from time to time (hereinafter referred to as Notification No. FEMA 20/2000-RB). | 38,697,432 | 16,640 | |
| 858 | Quippo Valuers And Auctioneers Pvt Ltd | Sep/2017 | ODI | FEMA 120/RB-2004 | ODI - Contravention of Provisions | less than 1 months | nonsubmission of share certificate for its investment in its Joint Venture | Quippo Energy Limited (formerly known as Quippo Energy Private Limited), entered agreement with M/s. Hadharamount & Mareb Power Company Limited to form a Joint Venture named M/s. Quippo Energy Yemen Ltd in Yemen and remitted on January 6, 2011 YER 10,200,000/- (. INR at Rs.23, 04,370) for its 51% share of investment in Joint venture (JV) and the same was deposited in CAC Bank Yemen. The JV was incorporated on January 9, 2011.The other partner not contributed its share of investment at YER 98,00,000/-. The JV was unable to commence operations due to persistent and socio economic inconsistencies prevailing in Yemen. The applicant Viz., Quippo Valuers and Auctioneers Private Limited has acquired the 100% share of M/s. Quippo Energy Limited (formerly known as Quippo Energy Private Limited) on October 28, 2013. The applicant decided to write off its entire investment due to the prevailing political crises and the JV not started its operations, The applicant sought permission for write off through its letter dated May 30, 2015 and the AD Bank forwarded the same to Reserve Bank of India on vide its letter dated August 13, 2015. While processing the application for write off, it was observed that the share certificate was not obtained by the Indian Party for its initial investment, thereby contravening Regulation 15(i) of FEMA120- RB 2004. The write off proposal was approved on March 8, 2017, the transaction was regularised on May 08, 2017 and the UIN No. AHJAZ201200116 was closed. 3.Regulation 15(i) of the said notification requires | 2,304,370 | 67,283 | |
| 859 | Bennett, Coleman And Company Ltd (II) | Sep/2017 | ODI | FEMA 120/RB-2004 | ODI - Contravention of Provisions | 1 years to 9 years | (i) delay in filing Part I of Form ODI (ii) making overseas investment in optionally convertible redeemable preference shares without any prior equity contribution (iii) nonsubmission of Annual Performance Reports (APR) | The applicant is engaged in the business of proprietors and publishers of newspapers, journals, magazines etc.The contraventions sought to be compounded are (i) delay in filing Part I of Form ODI, beyond the stipulated time period (ii) making overseas investment in optionally convertible redeemable preference shares without any prior equity contribution and (iii) non-submission of Annual Performance Reports (APR) within the stipulated time period. | 88,961,500 | 1,514,422 | |
| 860 | Dodla Dairy Limited | Sep/2017 | ODI | FEMA 120/RB-2004 | ODI - Contravention of Provisions | 3 and a half years | (i) nonreceipt of share certificates within the stipulated time period (ii) disinvestment without submission of Annual Performance Reports (APR) within the stipulated time period | The applicant is engaged in the business of processing of milk and manufacturing of milk products. The applicant invested in a Wholly Owned Subsidiary (WOS), , and remitted an amount towards equity investment. However, the applicant, due to a certain change in policy by the Ethiopian government, decided to disinvest. The shares were thus never allotted, and hence the share certificates were not received within six months, in contravention of Regulation 15(i) of Notification No. FEMA 120/2004-RB. | 14,726,897 | 40,000 | |
| 861 | CCL Consultants(India) Private Limited | Sep/2017 | ECB | FEMA 3/2000-RB | ECB - applicant not eligible borrower, LRN not obtained, end use provisions violated, reporting guidelines not adhered | 2 years, 7 months and 29 days. | (i) the borrower is not an eligible borrower in terms of extant ECB guidelines (ii) utilization of ECB proceeds to meet noncapital expenditure of the company is a nonpermissible end use (iii) draw down of the ECB without obtaining Loan Registration Number (LRN) from the Reserve Bank of India (RBI) is not permitted (iv) reporting guidelines were not adhered to | CCIPL is engaged in providing advisory and consultancy on all matters and problems relating to the process of outsourcing of agents, call canters to individual and to provide advisory on FMCG, Real Estate, and Mining etc.As the applicant is engaged in the business of consulting, it is not eligible to raise such a loan under the Automatic Route. Further, the loan was utilized for a non- permissible end-use and drawdown of the loan took place without obtaining Loan Registration number (LRN) from the Reserve Bank of India (RBI). | 5,167,671 | 81,006 | |
| 862 | Elomatic-Pharmalab Consulting And Engineering Pvt Ltd | Sep/2017 | ECB | FEMA 3/2000-RB | ECB - Failure to comply with ECB Regulations | 9 years and 10 months | (i) raising ECB under automatic route from its foreign joint venture holding company (ii) submission of ECBII returns (admitted vide email dated July 31, 2017), having thus contravened the eligibility and reporting requirements | The applicant is engaged in the business of providing engineering services for the pharmaceutical industry which include consulting, designing, engineering and validation services. In the year 2007, the applicant raised ECB, under Automatic Route from its foreign joint venture holding company.The applicant has raised ECB under automatic route in contravention of paragraph (1) (i) (a) of Schedule I to Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000 notified vide Notification No. FEMA 3/2000-RB as it did not meet the eligibility criteria for this purpose. Further, the applicant had submitted the ECB-II returns with substantial delays, thus contravening paragraph (1) (xii) also of the Regulations ibid. | 3,961,337 | 133,877 | |
| 863 | Kuma Engineering Pvt Ltd | Sep/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Filing | (i) 11 to 73 days. (ii) 8 to 146 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The company is engaged in manufacturing of other electrical equipment. The applicant company has received total nine inflows amounting to ₹1,93,00,000/- from foreign investors under automatic route and reported the same to Reserve Bank The contraventions sought to be compounded are (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity and (ii) delay beyond 30 days in submission of Form FC-GPR to the Reserve Bank after issue of shares to a person resident outside India; in terms of paragraphs 9(1)(A) and 9(1)(B) respectively, of Schedule 1 to Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 notified, vide Notification No. FEMA 20/2000-RB dated 3rd May 2000 and as amended from time to time (hereinafter referred to as Notification No. FEMA 20/2000-RB) | (i) 193,00,000 (ii) 193,00,000 | 28,665 | |
| 864 | Tejas Networks Limited | Sep/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Filing | (i) 3 days to 1 years 1 months and 1 days (ii) 4 months and 7 days to 1 years 11 months and 3 days (iii) 12 days to 9 years 7 months | (i) Delay in reporting receipt of funds for issue of shares (ii) allotment of shares prior to receipt of full share application money (iii) Delay In filing Form FCGPR | The company is engaged in the business of developing, manufacturing and dealing in application tools of all kinds for internet based applications, and in providing internet service, and dealing with all kinds of software and hardware related to all fields of internet communication. The applicant had received funds towards share application money from various foreign investors. The applicant reported receipt of remittances to the Reserve Bank of India / Authorized Dealer Bank, with a delay ranging from three days to one year one month and one day , beyond the stipulated time of 30 days | (i) 120,55,33,090 (ii) 12,626.50 (iii) 352,10,92,880 | 1,576,900 | |
| 865 | Ecom Gill Coffee Trading Pvt Ltd | Sep/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Filing | (i) 1 years 4 months and 6teen days to 9 years 1 months and 27 days (ii) 5 months and 7teen days to 7 years, 4 months and 19 days, | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The company is engaged in the business of coffee curing, export, and trading in coffee seeds. The applicant had received funds towards share application money from foreign investor, namely, M/s Ecom Agro Industrial Corporation Limited, Switzerland. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank with a delay ranging from one year four months and sixteen days to Nine years one month and twenty seven days , beyond the stipulated time of 30 days, in respect of remittances | (i) 404,99,999.88 (ii) 405,00,000 | 863,000 | |
| 866 | Elken International India Pvt Ltd | Sep/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Filing | 25 days to 1 years, 2 months and 14 days | (i) Delay in reporting receipt of funds for issue of shares | The activity undertaken by the company is “to engage in the business of manufactures, processors, importers, exporters, buyers, sellers, suppliers, stockists, agents, merchants, distributors, and dealers in beverages of all kinds and descriptions and importers of health care products.” The applicant had received funds towards share application money from foreign investors, namely, M/s Elken International Inc. Pte Limited, Singapore and M/s Elken International Inc. Pte Limited, Malaysia. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank with a delay ranging from twenty five days to one year, two months and fourteen days , beyond the stipulated time of 30 days | 205,576,125 | 77,800 | |
| 867 | Aerospace Processing India Pvt Ltd | Sep/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Filing | 3 days to 6 months and 24 days | (i) Delay in reporting receipt of funds for issue of shares | The activity undertaken by the company is “to engage in the business of surface treatment, surface analysis, heat treatment, vaccum homogenization, stress relieving, normalizing, vacuum hardening, vacuum precipitation, vacuum brazing and electron beam welding of aerospace, automotive, industrial and engineering components in commercial, military and space sectors.” The applicant had received funds towards share application money from foreign investor. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank with a delay ranging from three days to six months and twenty four days , beyond the stipulated time of 30 days | 13,009,523 | 14,900 | |
| 868 | Sifang Automation India Private Limited | Sep/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Filing | (i) 29 days to 4 months and 7 days (ii) 1 months 5 days to 6 months 28 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The Company is mainly engaged in R & D, manufacture and sale of power system automation, relay protection, power system security and stability control, HVDC transmission control, dispatching automation, distribution automation, power simulation, rail transportation for electric power system and related process industries such as petrochemical, railway, coal, metallurgy, etc | (i) 495,50,000 (ii) 495,50,000 | 93,640 | |
| 869 | One Business Consulting Group Pvt. Ltd. | Sep/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Filing | (i) 508 days. (ii) 538 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The Applicant Company, One Business Consulting Group Pvt. Ltd. is a private Limited company duly incorporated under the Companies Act, 1956. The applicant is engaged in software development and promoting business process outsourcing etc.The above remittance was not reported to Reserve Bank of India within the prescribed time period. The applicant reported the receipt of remittances to Reserve Bank of India with delay of 508 days, in contravention of Para 9(1) (A) of Schedule 1 to Notification No.FEMA 20/2000RB dated May 3, 2000, in terms of which an Indian company issuing shares in accordance with these regulations should report to the Reserve Bank of India as per the prescribed procedure not later than 30 days from the date of receipt of the amount of consideration. | (i) 108,00,00,000 (ii) 108,00,00,000 | 166,000 | |
| 870 | Combier Brewmaster Ventures Pvt. Ltd. | Sep/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Filing | (i) 23 days to 166 days. (ii) 71 days to 234 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The Applicant Company, Combier Brewmaster Ventures Pvt. Ltd. is a private Limited company duly incorporated under the Companies Act, 1956. The applicant is engaged in manufacturing and trading of alcoholic and non-alcoholic liquors, all types of beverages, syrups, chocolate and confectionery products. The remittance was not reported to Reserve Bank of India within the prescribed time period, in contravention of Para 9(1) (A) of Schedule 1 to Notification No.FEMA 20/2000RB dated May 3, 2000, in terms of which an Indian company issuing shares in accordance with these regulations should report to the Reserve Bank of India as per the prescribed procedure not later than 30 days from the date of receipt of the amount of consideration. | (i) 60,02,36,500 (ii) 74,12,59,700 | 25,610 | |
| 871 | Britannia Labels India Private Limited | Sep/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Reporting | (i) 3 years 8 months 18 days (ii) 5 years 11 months 3 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The applicant company is engaged in Business of manufacture of other paper products n.e.c. The applicant received foreign inward remittance from Mr. Robert Bryan Brownhill, England towards subscription to equity shares. The applicant reported receipt of remittance to the Reserve Bank on the date indicated above and with delay of three years eight months 18 days beyond the stipulated time of 30 days. Whereas, in terms of paragraph 9 (1) A of Schedule I to Notification No. FEMA 20/2000-RB, an Indian company issuing shares or convertible debentures in accordance with these Regulations should report to the Reserve Bank of India as per the prescribed procedure not later than 30 days from the date of receipt of the amount of consideration. | (i) 54,300 (ii) 4,300 | 12,761 | |
| 872 | PRI Precision Automotive Pvt Ltd | Sep/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Filing | (i)1 days to 9 months 18 days (ii) f4 months 15 days to 1 years 3 months 7 days (iii) 3 years 26 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR (iii) delay in allotment of shares | The applicant company is engaged in business of Repair and maintenance of other fabricated metal products. The applicant received foreign inward remittances from M/s Perfect Rapid Co. Ltd., South Korea towards subscription to equity shares. The applicant reported receipt of remittances to the Reserve Bank beyond the stipulated time of 30 days. | (i) 74,80,939 (ii) 51,72,772 (iii) 16,866 | 35,561 | |
| 873 | Enerlife India Private Limited | Sep/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Filing | (i) 6 days to 1 years 1 months (ii) 3 months 1 days to 1 years 1 months 26 days (iii) 13 days to 7 months 16 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR (iii) delay in allotment of shares | The applicant company is engaged in business of manufacture of biscuits, cakes, pastries, rusks etc. The applicant reported receipt of remittances to the Reserve Bank on dates indicated above with delay ranging from six days to one year one month beyond the stipulated time of 30 days | (i) 10,93,12,64,416 (ii) 12,98,73,800 (iii) 648,56,32,340 | 529,359 | |
| 874 | Appviewx Private Limited | Sep/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Filing | (i) 3 days to 1 months 8 days (ii) 1 months 16 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The applicant company is engaged in business of writing, modifying, testing of computer program to meet the needs of a particular client excluding web-page designing. The applicant reported receipt of remittances to the Reserve Bank beyond the prescribed period of 30 days | (i) 56,40,82,950 (ii) 56,40,820 | 22,000 | |
| 875 | Polyhose Tofle Private Limited | Sep/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Filing | (i) 10 days to 25 days (ii) 3 days to 3 months 5 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The applicant company is engaged in business of manufacture of rubber plates, sheets, strips, rods, tubes, pipes, hoses etc. The applicant reported receipt of remittances to the Reserve Bank beyond the prescribed period of 30 days. | (i) 44,99,536 (ii) 735,00,000 | 43,710 | |
| 876 | SH Electronics India Private Limited | Sep/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Filing | (i) 2 days to 1 years 4 months 28 days (ii) 1 months 12 days to 1 years 11 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The applicant company is engaged in business of manufacture of parts and accessories for electronic valves and tubes and other electronic components. The applicant reported receipt of remittances to the Reserve Bank beyond the prescribed period of 30 days in respect of remittances | (i) 75,12,44,23,340 (ii) 50,95,14,000 | 507,000 | |
| 877 | TGI Packaging Private Limited | Sep/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Filing | (i)1 days to 2 months 15 days (ii) 18 days to 11 months 17 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The applicant company is engaged in business of manufacture of packing paper.The applicant reported receipt of remittances to the Reserve Bank beyond the prescribed period of 30 days | (i) 370,31,050 (ii) 363,24,000 | 45,250 | |
| 878 | Kohnle Heat Treating Systems Pvt Ltd | Sep/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Filing | (i) 5 years 6 months 11 days (ii) 4 years 1 months 3 days to 9 years 3 months 27 days (iii) 3 years 3 months 4 days (iv) 1 years 5 months 20 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR (iii) allotment of shares prior to receipt of consideration (iv) delay in allotment of shares | The applicant company is engaged in Business of machining; treatment and coating of metals. The applicant reported receipt of remittance to the Reserve Bank beyond the stipulated time of 30 days. The company allotted shares with delay of 180 days without prior approval of Reserve Bank. | (i) 193,974 (ii) 190,33,856 (iii) 51,000 (iv) 139,33,856 | 97,590 | |
| 879 | Currie & Brown (Padgham) Pvt Ltd | Sep/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Filing | (i)3 months 1 days to 1 years 4 months (ii) 9 days (iii)(a) 1 years 8 months 22 days (iii)(b) 1 years 5 months 20 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR (iii) delay in allotment of shares | The applicant company is engaged in business of management consultancy activities. The applicant received foreign inward remittances towards subscription to equity shares and reported the same to the Reserve Bank beyond the stipulated time of 30 days. The applicant filed the form FC-GPR beyond the stipulated time of 30 days. The company allotted shares beyond the prescribed period of 180 days with prior approval of Reserve Bank. | (i) 138,10,000 (ii) 810,000 (iii)(a) 810,000 (iii)(b) 445,66,608 | 245,370 | |
| 880 | International Waste Management Private Limited | Sep/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Filing | (i)6 months 26 days to 2 years 8 months 8 days (ii) 10 months 4 days to 2 years 7 months 17 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The applicant company is engaged in business of treatment and disposal of non-hazardous waste. The applicant received foreign inward remittances towards subscription to equity shares and reported the same to the Reserve Bank beyond the prescribed period of 30 days. The company allotted equity shares and filed FC-GPRs beyond the prescribed period of 30 days | (i) 494,50,39,754 (ii) 494,50,380 | 218,840 | |
| 881 | Mana Hc Info Private Limited | Sep/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Filing | (i) 2 months 14 days to 1 years 5 months 10 days (ii) 16 days to 1 years 3 months 26 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The applicant company is engaged in business of providing general time-share mainframe facilities to clients. The applicant received foreign inward remittances towards subscription to equity shares and reported the same to the Reserve Bank beyond the prescribed period of 30 days. The company allotted equity shares and filed FC-GPRs beyond the prescribed period of 30 days | (i) 140,18,18,116 (ii) 140,18,174 | 51,865 | |
| 882 | Prabhudeva Studios Private Limited | Sep/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Filing | (i) 3 days (ii) 1 years 1 months 25 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The applicant company is engaged in business of production of motion picture. The applicant received foreign inward remittances towards subscription to equity shares and reported the same to the Reserve Bank beyond the prescribed period of 30 days. The company allotted equity shares and filed FC-GPRs beyond the prescribed period of 30 days | (i) 147,39,226 (ii) 297,39,200 | 82,500 | |
| 883 | Arani Agro Oil Industries Private Limited | Sep/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Filing | (i) 8 years 4 months 5 days (ii) 4 years 7 months 4 days (iii) 9 years 5 months 28 days to 9 years 8 months 18 days. (iv) 8 years 5 months 17 days. Iue 5 9 days Iue 6 6 days to 9 years 10 months 5 days Iue 7 4 years 11 months 14 days to 9 years 11 months 17 days | (i) Issue of equity shares in lieu of technology transfer to person resident outside India (ii) Redeeming of preference shares issued to a person resident outside India prior to lock in period of five years without obtaining prior approval of the FIPB (iii) Taking on the company’s record , transfer of shares by way of swap between nonresident and resident investors and transfer of shares from resident investors to non resident investors (iv) neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India within 180 days of the receipt of inward remittance (v) issue of equity shares before the receipt of consideration to (vi) Delay in reporting receipt of foreign inward remittances towards subscription to equity (vii) Delay In filing Form FCGPR | The company is engaged in the business of manufacture and sale of edible oil and speciality fats based on palm kernel oil, rape seed oil, soya bean oil etc.The applicant received foreign inward remittances from foreign investors towards subscription to equity/preference shares The applicant reported receipt of remittances to the Regional office of Reserve Bank of India beyond the stipulated 30 days period . The company allotted preference shares /equity shares and filed 13 form FC-GPRs for beyond the stipulated 30 days period. Company has delayed in refund of balance share application money to the overseas remitter and did not obtain any specific approval from Reserve Bank of India for allotting the shares beyond the stipulated period of 180 days. | (i) 200,00,000 (ii) 200,00,000 (iii) 180,56,900 (iv) 169,43,100 (v) 49,37,651 (vi) 25,52,30,618 (vii) 27,80,73,600 | 8,121,868 | |
| 884 | Verdant Life Sciences Pvt Ltd | Sep/2017 | FDI | FEMA 20/2000-RB | FDI - Breach of provison | 1 years 6 months 25 days | failure to obtain the specific and prior approval of the Government of India before issue of shares to person resident outside India | The company is engaged in the business of bulk manufacturing of pharmaceutical products and chemicals. The applicant issued shares of the company to non-residents without obtaining prior approval of Foreign Investments Promotion Board, Government of India (herein after referred to as FIPB), for inward remittance received towards share application money. | 11,586,098 | 113,724 | |
| 885 | GSR Infrastructure Private Limited | Sep/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 1 years 9 months 4 days to 1 years 9 months 10 days (ii) 2 years 3 months 23 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) neither the equity instruments were issued nor the money refunded to the foreign investor within 180 days of the receipt of the inward remittance | The company is engaged in the business of construction, execution, building etc. and to carry on business as contractor and sub-contractor for all kinds of constructional works. The applicant had received foreign inward remittances from a single foreign investor towards advance for subscription to equity shares. The applicant reported receipt of remittances towards share subscription beyond the prescribed period of 30 days. The company refunded share application money beyond the stipulated period of 180 days. | (i) 33,10,903 (ii) 33,10,903 | 81,270 | |
| 886 | Munchem India Private Limited | Sep/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 22 days to 3 months 24 days (ii) 2 months 10 days to 9 months 10 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The company is engaged in the business of data processing, hosting and related activities. The applicant received foreign inward remittances towards subscription to equity shares and reported the same to the Reserve Bank beyond the prescribed period of 30 days. The company allotted equity shares and filed FC-GPRs beyond the prescribed period of 30 days | (i) 36,92,223 (ii) 58,00,878 | 25,410 | |
| 887 | Oppo Mobiles West Bengal Pvt Ltd | Sep/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in filing | 3 months 6 days | Delay In filing Form FCTRS | The main objective of the applicant is wholesale of “OPPO” mobiles phones and related products as manufactured and produced by “OPPO”. The applicant received foreign inward remittances from foreign investor. The applicant filed Form FC-GPRs beyond the prescribed period of 30 days | 28,500,000 | 26,700 | |
| 888 | Petunia Properties Private Ltd | Sep/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in filing | 5 months 7 days | Delay In filing Form FCTRS | The main objective of the applicant is to acquire by purchase, lease, exchange, hire or develop or operate land, buildings etc. The applicant entered in a share purchase agreement with two non-resident companies. The company delayed in filing of Form FC-TRS on transfer of shares from a resident to non-resident with their designated AD bank | 40,802 | 19,000 | |
| 889 | Magaldi Power India Pvt. Ltd | Sep/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in filing | (i) 6 days (ii) 1 years 2 months twenty-5 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The main objective of the applicant is in engineering, manufacturing, selling, servicing and assembling of dry bottom ash extraction. The applicant received foreign inward remittances towards subscription to equity shares and reported the same to the Reserve Bank beyond the prescribed period of 30 days. The company allotted equity shares and filed FC-GPRs beyond the prescribed period of 30 days | (i) 5391740 (ii) 8936740 | 36,350 | |
| 890 | Mallinckrodt Pharmaceuticals India Private Limited | Sep/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 1 years 10 months and 29 days (ii) 7 months and 2 days | (i) Delay in reporting receipt of funds for issue of shares (ii) delay in issue of shares without RBI approval | The company is engaged in the business of sales, marketing, liaising and other business support services to group companies in relation to distribution of pharmaceutical and imaging products by independent distributors in India. The company delayed in reporting the inflow of funds from a person resident outside India beyond the prescribed period of 30 days. The company delayed in allotment of equity shares beyond the prescribed period of 180 days. | (i) 5391740 (ii) 8936740 | 81,565 | |
| 891 | Analec Infotech Private Limited | Sep/2017 | FDI | FEMA 20/2000-RB | FDI - delay in intimation | 3 months to 1 years 8 months | delay in intimation of downstream investment to SIA/DIPP/FIPB within 30 days of such investment. | The applicant is a subsidiary of Analec Singapore Pte. Ltd., and is engaged in the business of providing IT enabled services, web based research, call center services, consultancy and advisory services etc. The applicant made downstream investment in M/s Leap Learning Solutions Pvt. Ltd., a private limited company incorporated in India, engaged in the business of providing education and online training in language learning etc. There was a delay in intimating SIA/DIPP/FIPB, beyond the stipulated time period of 30 days. | 34,540,246 | 80,333 | |
| 892 | Ceres Hotels Pvt Ltd | Sep/2017 | FDI | FEMA 20/2000-RB | FDI - delay in filing | 4 days to 5 months 2 days | delay in filing of form FCGPR beyond the stipulated time period | The applicant is engaged in the business of owning, managing, building, operating and carrying on business in India or elsewhere of residential hotels, motels, restaurants, cafes etc. The applicant received inward remittances, for which there was a delay in reporting in the Form FCGPR.The allotment of shares under FDI route was not reported within the stipulated time period, thus contravening Paragraph 9(1)(B) of Schedule I of Notification No. FEMA 20/2000-RB. According to Para 9(1)(B) of Schedule 1 of Notification No.FEMA.20/2000-RB dated May 03, 2000 as amended from time to time states that “An Indian company issuing shares or convertible debentures in accordance with these Regulations shall submit through AD bank to the Regional Office concerned of the Reserve Bank under whose jurisdiction the Registered office of the company operates, not later than 30 days from the date of issue of shares, a report in the Form FC-GPR as specified by the Reserve Bank from time to time….”. | 2,938,762,000 | 106,333 | |
| 893 | Mobilecomm Technologies India Private Limited | Oct/2017 | ODI | FEMA 120/RB-2004 | ODI- Delay in Filing APR and write off of share capital and loan given to WOS | (i) 1 years (ii) 3 years and 4 months | (i) delay in submission of Annual Performance Reports (APRs) for the year 2013 (ii) written off the entire share capital of WOS and loans to WOS without submission of APR. | The applicant is engaged in the business of providing radio frequency (RF) based testing and support services, network optimisation, project management and related services to telecom industry clients. The applicant failed to submit to the Reserve Bank every year within 60 days from the date of expiry of the statutory period as prescribed by the respective laws of the host country for finalisation of the audited accounts of the Joint Venture / Wholly Owned Subsidiary outside India. | 142,025,318 | 69,232 | |
| 894 | Sukavala Renewable Energy Private Limited | Oct/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 8 - 171 days (ii) 18- 266 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The company is engaged in manufacturing of other lifting and handling equipment. The applicant company has received total seven inflows amounting to ₹99,48,26,848/- from foreign investors under automatic route and reported the same to Reserve Bank of India beyond the prescribed period of 30 days from the date of receipt of the amount of consideration. The company allotted equity shares and filed FC-GPRs beyond the prescribed period of 30 days | (i) 71,84,41,365 (ii) 99,48,26,803 | 327,000 | |
| 895 | Mukhtarul Amin | Oct/2017 | ODI | FEMA 120/RB-2004 | ODI by Individual resident during non permissible period | (i) 8 years, 6 months (ii) 3 years and 5 months (iii) 3 years and 2 months | (i) ODI by Individual resident during non permissible period (ii) non submission of Form ODI Part I and Part II in respect of the ODI which was deemed as enabled (iii) non submission of Annual Performance Reports (APRs) for the years 2013 to 2015 in respect of the ODI. | The applicant is the Chairman and Managing Director of Super House Limited engaged in the manufacturing and export of finished leather, leather footwear and other leather products. The applicant failed to submit Part I of the Form ODI, duly completed, to the designated AD bank, within 30 days of making the remittance. Regulation 15(III) of the said Notification requires that the resident individual who undertaken overseas direct investment shall submit to the Reserve Bank every year within 60 days from the date of expiry of the statutory period as prescribed by the respective laws of the host country for finalisation of the audited accounts of the JV / WOS outside India or such further period as may be allowed by Reserve Bank, an Annual Performance Report (APR) in respect of each JV or WOS outside India set up or acquired by the Indian Party, or the resident individual and other reports or documents as may be stipulated by the Reserve Bank. | (i) and (ii) Euro 18,80,000 (INR 10,99,07,200) | 106,771 | |
| 896 | Shahina Mukhtar | Oct/2017 | ODI | FEMA 120/RB-2004 | ODI by Individual resident during non permissible period | (i) 8 years, 6 months (ii) 3 years and 5 months (iii) 3 years 2 months, 2 years 2 months, and 1 years 2 months for the APR for the years 2013, 2014 and 2015, repectively. | (i) ODI by Individual resident during non permissible period (ii) non submission of Form ODI Part I and Part II in respect of the ODI which was deemed as enabled (iii) non submission of Annual Performance Reports (APRs) for the years 2013 to 2015 in respect of the ODI. | The applicant is the Chairman and Managing Director of Super House Limited engaged in the manufacturing and export of finished leather, leather footwear and other leather products. The applicant failed to submit Part I of the Form ODI, duly completed, to the designated AD bank, within 30 days of making the remittance. Regulation 15(III) of the said Notification requires that the resident individual who undertaken overseas direct investment shall submit to the Reserve Bank every year within 60 days from the date of expiry of the statutory period as prescribed by the respective laws of the host country for finalisation of the audited accounts of the JV / WOS outside India or such further period as may be allowed by Reserve Bank, an Annual Performance Report (APR) in respect of each JV or WOS outside India set up or acquired by the Indian Party, or the resident individual and other reports or documents as may be stipulated by the Reserve Bank. | (i) and (ii) Euro 18,80,000 (INR 10,99,07,200) | 76,771 | |
| 897 | Zafarul Amin | Oct/2017 | ODI | FEMA 120/RB-2004 | ODI by Individual resident during non permissible period | (i) 8 years, 6 months (ii) 3 years and 5 months (iii) 3 years 2 months, 2 years 2 months, and 1 years 2 months for the APR for the years 2013, 2014 and 2015, repectively. | (i) ODI by Individual resident during non permissible period (ii) non submission of Form ODI Part I and Part II in respect of the ODI which was deemed as enabled (iii) non submission of Annual Performance Reports (APRs) for the years 2013 to 2015 in respect of the ODI. | The applicant is son of Mr. Mukhtarul Amin, Chairman and Managing Director of Superhouse Group which comprises of several companies including Superhouse Limited (after change of name to Superhouse Limited in November 2006 - originally incorporated in January 1980 as Superhouse Leathers Limited under the Companies Act, 1956) engaged in the manufacturing and export of finished leather, leather footwear and other leather products. The applicant delayed the submittion of Form ODI Part I and Part II to the Authorised Dealer (AD) bank which was in contravention of Para D(1) and (2) of Schedule V read with Regulation 20(A), of Notification No FEMA 120-RB 2004. Further, the applicant submitted the APR for the years 2013, 2014 and 2015 on February 07, 2017 - involving a delay of varied duration in respect of the three APRs. | (i) and (ii) Euro 12,40,000 (INR 7,11,27,700) | 68,751 | |
| 898 | Archetype Entertainment Private Limited | Oct/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 8 - 1059 days | Delay in reporting receipt of funds for issue of shares | The company is in the business of providing online entertainment services, online video gaming services, undertaking related competitive events, promoting and marketing all types of branded and unbranded online gaming equipment, accessories, etc. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank beyond the stipulated time of 30 days | 5,550,673,606 | 104,620 | |
| 899 | Synfosys Business Solutions Limited | Oct/2017 | ODI | FEMA 120/RB-2004 | ODI - Non compliance of provisions | (i) 2 years 6 months to 2 years 9 months (ii) 2 years 1 months | (i) keeping of amounts in escrow account abroad without carrying out the acquisition of the overseas entity as intended (ii) utilizing a portion of the amount remitted abroad into an escrow account for purposes other than for ODI | It is engaged in the business of providing IT and ITES services. The contraventions sought to be compounded relate to (i) keeping of amounts in escrow account abroad without carrying out the acquisition of the overseas entity as intended and; (ii) utilizing a portion of the amount remitted abroad into an escrow account for purposes- other than for ODI in contravention of Regulation 5(1) of Foreign Exchange Management (Transfer or Issue of any Foreign Security) Regulations, 2004 | (i) USD 2000000 (111285105) (ii) USD 409895 (22807604) | 770,347 | |
| 900 | Priyanjali Education Private Limited | Oct/2017 | ODI | FEMA 120/RB-2004 | Breach Of Provisions | (i) 5 years and 8 months (ii) 4 years to 1 years (iii) 1 years and 6 months | (i) non receipt of share certificate for the investment made in Joint Venture (ii) nonsubmission of Annual Performance Reports(APRs) for the years 2012 to 2015 (iii) disinvestment with writeoff without submitting Annual Performance Report | The applicant is engaged in the business of education and related areas. . The applicant not received the share certificate contravening the provision of regulation 15(i) of Notification No FEMA 120-RB 2004. The applicant has not submitted the APRs for the years ended March 31, 2012 to 2015, contravening Regulation 15(iii) of Notification No FEMA 120-RB 2004.The applicant disinvested the entire investment with full write-off on July 25, 2015 and reported through the AD bank on January 16, 2017 without submission of APR for the year ended March 31, 2015 contravening the provision of 16(1)(v) Notification No FEMA 120-RB 2004. These transactions were later reported to the Reserve Bank of India by the applicant through AD bank and the transactions were regularised on July 19, 2017. | (i) 103959200 (CHF 2000000) (iii) 103959200 (CHF 2000000) | 152,385 | |
| 901 | Northern Exim Private Limited | Oct/2017 | ODI | FEMA 120/RB-2004 | ODI- Delay in submissions | (i) (a) 8 months on 1 occaion and 11 years and 2 months on another occaion (i) (b) 10 months (ii) 1 years to 11 years | (i) the delay in submission of information on change in the foreign partner in the JV, and reporting of investment in step down subsidiary (ii) delay in submission of Annual Performance Reports (APRs) for the years 2004 to 2014 | The applicant is engaged in the business of trading of metals and ores. The applicant delayed in submission of information on change in the foreign partner in the JV, and reporting of investment in step down subsidiary beyond the prescribed period of 30 days. It also delayed in delay in submission of Annual Performance Reports (APRs) for the years 2004 to 2014 beyond prescribed period of 60 days. | (i) (a) 237421100 (USD 5445400) (i) (b) 66980000 (USD 1000000) | 170,417 | |
| 902 | Zicom Electronic Security Systems Limited | Oct/2017 | ODI | FEMA 120/RB-2004 | ODI- Delay in submissions | (i) 9 years and 8 years (ii) 10 years and 2 months | (i) delayed submission of Annual Performance Reports (APRs) (ii) disinvestment with writeoff without submitting the APR | The applicant is engaged in the business of trading in electronic security products and providing related services. The applicant delayed in delay in submission of Annual Performance Reports (APRs) for the years 2004 to 2014 beyond prescribed period of 60 days. The applicant disinvested the entire investment with full write-off on March 11, 2007 without submission of APR, contravening the provision of 16(1)(v) Notification No FEMA 120-RB 2004). | 215,128,800 | 86,135 | |
| 903 | Marksans Pharma Limited | Oct/2017 | ODI | FEMA 120/RB-2004 | ODI - Delay in filing | (i) 1 years (ii) 3 and a half months | (i) delay in filing Form ODI Part I (ii) nonreceipt of share certificates within the stipulated time period | The applicant is engaged in the business of research, manufacturing and marketing of generic pharmaceutical formulations in the global markets. A Wholly Owned Subsidiary (WOS) of the applicant company, namely, Marksans Pharma INC, was incorporated in USA on December 11, 2014. The company delayed in issuing the share certificate within prescribed period of 180 days. | (i) 942,95,625 (ii) 72,76,34,762 | 70,000 | |
| 904 | S Maragathamani | Oct/2017 | ODI | FEMA 120/RB-2004 | Breach Of Provisions | (i) 4 years (ii) 3 years | (i) making of overseas direct investment in the wholly owned subsidiary in UAE by the resident individual without prior approval of the Reserve Bank (ii) nonreporting of the remitted amount in the prescribed Form ODI (Part I) (iii) delay in submission of Annual Performance Reports (APRs) | The Resident individuals were not eligible to make any direct investment outside India under the then Notification No. FEMA 120/2004-RB. The aforesaid notification was amended subsequently with prospective effect and Resident individuals were allowed to acquire or set up a JV or WOS abroad with effect from August 05, 2013 under the newly inserted Regulation 20A and Schedule V to the notification ibid. However, the applicant neither took prior approval of the Reserve Bank at the time of forming the WOS nor after the aforementioned amendment. Further, in terms of Part D of Schedule V to the amended notification, the Resident individuals making overseas direct investments have the obligation to adhere to certain reporting requirements. The applicant did not submit the duly completed Form ODI in respect of the amount remitted towards equity stake in WOS and also the APRs for the years 2010-2015, when the new provisions have come into the force. | 2,500,000 | 142,750 | |
| 905 | Solkar Solar Industry Limited | Oct/2017 | ODI | FEMA 120/RB-2004 | ODI - Delay in filing | (i) 8 years 01 months to 10 years (ii) 4 years (iii) 8 years 01 months to 10 years (iv) 5 years 10 months | (i) delayed submission of Form ODI Part I for reporting investment in Joint Venture (JV) overseas; (ii) delayed submission of Annual Performance Report (APR) in respect of the overseas entity (Part III of Form ODI) (iii) issuance of openended corporate and personal guarantees on behalf of the overseas entity (iv) disinvestment in the overseas JV at a value below the fair value | It is engaged in the business of manufacture and sale of solar energy based equipments, non-conventional energy devices, domestic appliances and equipments. Guarantees were issued without submitting Form ODI - I within the prescribed period in contravention of Regulation 6(2)(vi) of FEMA 120/2004-RB. The applicant also delayed filing the Annual Performance Reports in form APR with the RBI in respect of the overseas entity for the years ended March 31, 2007 to March 31, 2010 (i.e. 4 years) beyond the prescribed period of 60 days | (i) 812,98,600 (ii) 697,160 (iii) 812,98,600 | 1,121,948 | |
| 906 | Cropnosys (India) Private Limited | Oct/2017 | ECB | FEMA 3/2000-RB | B/L- Misutilisation of ECB | 5 years 3 months to 5 years 5 months | (i) utilization of a portion of ECB proceeds for nonpermissible end use (ii) parking a portion of the ECB proceeds in the fixed deposit with a bank (iii) draw down of the ECB without obtaining Loan Registration Number (LRN) from the Reserve Bank of India (RBI). | It is engaged in the business of manufacturing of pesticides and fungicides for crops, agro-chemical goods, acids, salts, alkalis, antibiotics etc.The applicant overdrew funds which was in the nature of debt was undertaken by CIPL without obtaining the Loan Registration Number (LRN) from RBI in contravention of Paragraph 1(xi) of Schedule 1 to Regulation 6 of Notification No. FEMA 3/2000-RB. Though the loan proceeds were primarily used for expansion of the project in order to create long-term assets, a portion of the funds was used for purposes other than the expansion programme i.e. for non-permissible end-uses.Further a portion of the loan was parked in fixed deposit with a bank on August 10, 2012 which was not permitted during the relevant period. | 53,316,146 | 529,071 | |
| 907 | Inclusive Ventures India Private Limited | Oct/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 1 years, 1 months and 27 days (ii) 1 years, 7 months and 3 days | (i) delay in reporting of foreign inward remittances, received towards subscription to equity, (ii) delay in refund of share application money | The company is engaged in the business of providing consulting services to various types of industries, enterprises and entities, with the object of enabling such enterprises to create and scale social impact through their initiative. The applicant had reported receipt of remittances to the Authorized Dealer Bank / RBI, beyond the stipulated time of 30 days. The share application money was refunded beyond the stipulated time of 180 days, in contravention of paragraph 8 to Schedule 1 to Notification No. FEMA 20 dated May 03, 2000 | (i) 99,88,875 (ii) 99,88,875 | 21,700 | |
| 908 | Rmz Somerset Galleria Hotels Private Limited | Oct/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 5 - 210 days (ii) 95 - 219 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The Company is engaged in the business of ‘Hospitality’, which is a permissible activity under FDI 100% automatic route. The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank beyond the stipulated time of 30 days. The applicant filed the Form FC-GPRs, on allotment of shares, with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank beyond the stipulated time of 30 days. | (i) 21,07,48,713 (ii) 589,98,675 | 178,950 | |
| 909 | Gold Coast Diagnostics Private Limited | Oct/2017 | ECB | FEMA 3/2000-RB | ECB - contraventions of the provisions | 2 years | (i) borrower not eligible to avail ECB (ii) availing ECB from a nonrecognized lender, (iii) availing ECB for an enduse that was not permitted (iv) noncompliance with average maturity period guidelines, (v) drawdown of External Commercial Borrowing (ECB) before obtaining Loan Registration Number (LRN) from the Reserve Bank of India (RBI) (vi) delay in meeting the reporting requirements. | The applicant is engaged in the business of running, owning, managing and administering diagnostic centers, scan centers, nursing homes, clinics, dispensaries, clinical pathological testing laboratories, X-ray and ECG clinics in India and abroad. The applicant availed a commercial loan of USD 200,000 (Rs. 1,26,63,022) from Gold Coast Medical Investment LLC, a US based LLC, vide two transactions dated July 10, 2015 and July 13, 2015. The applicant, being engaged in the business of diagnostic centers, clinics, nursing homes etc., was not an eligible borrower, and thus contravened the provisions of Paragraph 1(i) of Schedule I to Notification No. FEMA 3/2000-RB. The lender was not a foreign equity holder and was not a recognized lender under the automatic rule as per the provisions of FEMA, and the borrowing was thus in contravention of provisions of Paragraph 1(iii) of Schedule I to Notification No. FEMA 3/2000-RB. The end-use for which the loan was availed, i.e., for expansion of business, was not a permitted end-use, thus contravening the provisions of Paragraph 1(iv) of Schedule I to Notification No. FEMA 3/2000-RB. Agreed tenor of the loan was one year, which was not in compliance with the specified minimum maturity guidelines, thus contravening Paragraph 1(v) of Schedule I to Notification No. FEMA 3/2000-RB dated 3rd May 2000. The drawdown of the loan happened without obtaining the Loan Registration Number (LRN) from RBI, thus contravening the provisions of Paragraph 1(xi) of Schedule I to Notification No. FEMA 3/2000-RB. The reporting requirements were also not met, thus contravening Paragraph 1(xii) of Schedule I to Notification No. FEMA 3/2000-RB dated 3rd May 2000. The entire transaction was unwound on July 13, 2017. | 12,663,022 | 1,898,801 | |
| 910 | Jasper Infotech Private Limited | Oct/2017 | ODI | FEMA 120/RB-2004 | ODI - Contravention of Provisions | 2 years 3 months | undertaking foreign direct investment (FDI) under overseas direct investment (ODI) route in contravention of the provisions of Regulation 6(2)(ii) of Foreign Exchange Management (Transfer or Issue of any Foreign Security) | JIPL was engaged in the business of establishing, developing, designing, producing and conceptualizing direct marketing solutions through web and non-web based platforms. | 2,118,714,341,345 | 127,172,860 | |
| 911 | Jinhap Automotive Private Limited | Oct/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 8 - 171 days (ii) 18- 266 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The applicant company is engaged in business of Manufacture of internal combustion piston engines and other parts and accessories n.e.c. for motor vehicles classified in this group. The applicant received foreign inward remittances. The applicant had reported receipt of remittances to the Authorized Dealer Bank / RBI, beyond the stipulated time of 30 days. The share application money was refunded beyond the stipulated time of 180 days, in contravention of paragraph 8 to Schedule 1 to Notification No. FEMA 20 dated May 03, 2000 | (i) 7,99,89,05,503 (ii) 7,99,89,05,000 | 42,870 | |
| 912 | Saf-Holland India Private Limited | Oct/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 18 - 508 (ii) 90- 548 (iii) 81- 351 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR (iii) Delay in allotment of Shares | The applicant company is engaged in business of manufacture of diverse parts and accessories for motor vehicles such as brakes, gearboxes, axles, road wheels, suspension shock absorbers, radiators, silencers, exhaust pipes, catalysers, clutches, steering wheels, steering columns and steering boxes. The applicant received foreign inward remittances from i) M/s SAF Holland Inc, USA, ii) M/s SAF Holland International Inc, USA towards subscription to equity shares and reported the same to the Reserve Bank beyond the stipulated time of 30 days. The applicant filed the form FC-GPRbeyond the stipulated time of 30 days in respect of the allotments. The company allotted shares with delay ranging from two months 21 days to 11 months 21 days beyond the prescribed period of 180 days without prior approval of Reserve Bank. Whereas in terms of paragraph 8 of Schedule I to Notification No. FEMA 20/2000-RB, read with AP (Dir Series) Circular No.20 dated December 14, 2007 the shares have to be issued/amount refunded within 180 days from the date of receipt of the inward remittance. | (i) 172,00,000 (ii) 400,00,000 (iii) 172,00,000 | 209,290 | |
| 913 | Leax India Private Limited | Oct/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 2 - 749 days (ii) 14 - 770 days (iii) 294 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR (iii) Delay in allotment of Shares | The applicant company is engaged in business of manufacture of cable television equipment, transmitting and receiving antenna including dish, VSAT. The applicant reported receipt of remittances to the Reserve Bank and filed the form FC-GPR beyond the stipulated time of 30 days. The consideration towards the same was brought in by way of inward remittance stipulated time of 180 days | (i) 98,26,56,230 (ii) 98,25,150 (iii) 99,000 | 43,400 | |
| 914 | Fba Consulting India Private Limited | Oct/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 5 months 8 days to 11 months 21 days (ii) 9 years 1 months 29 days | (i) Delay in refunded of the excess inward remittances remaining after allotment of shares (ii) Delay in allotment of Shares | The applicant company is engaged in Business of Architectural and engineering and other technical consultancy activities. The applicant reported receipt of remittances to the Reserve Bank and filed the form FC-GPR beyond the stipulated time of 30 days. | (i) 50,31,190 (ii) 138,810 | 102,930 | |
| 915 | Nilpeter India Private Limited | Oct/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 16 days (ii) 5 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The applicant company is engaged in business of manufacture of other knitted and crocheted apparel including hosiery. The applicant reported receipt of remittances to the Reserve Bank and filed the form FC-GPR beyond the stipulated time of 30 days. | (i) 25000000 (ii) 20000000 | 42,000 | |
| 916 | Tas Textiles India Private Limited | Oct/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 1 years 3 months 19 days | (i) Delay in allotment of Shares | The applicant company is engaged in business of manufacture of other knitted and crocheted apparel including hosiery. The company failed to allot shares within the stipulated period of 180 days and refunded the share application money to the overseas investor | 1,656,337 | 53,696 | |
| 917 | Apc Drilling & Construction Private Limited | Oct/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Filing | (i) 3 days to 1 months 19 days | (i) Delay In filing Form FCGPR | The applicant company is engaged in business of support activities for other mining and quarrying. The company allotted equity shares and filed FC-GPR beyond the stipulated time of 30 days | 201,561,085 | 30,500 | |
| 918 | Phasorz Technologies Private Limited | Oct/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 12 days to 3 months 26 days (ii) 17 days to 1 years 2 months 22 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The applicant company is engaged in business of providing software support and maintenance to the clients. The applicant reported receipt of remittances to the Reserve Bank and filed the form FC-GPR beyond the stipulated time of 30 days | (i) 12,68,19,35,275 (ii) 14,34,40,58,256 | 194,090 | |
| 919 | Ifmr Holdings Private Limited | Oct/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 13 days (ii) 19 days to 4 months 26 days | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | The applicant company is engaged in business of providing software support and maintenance to the clients. The applicant reported receipt of remittances to the Reserve Bank and filed the form FC-GPR beyond the stipulated time of 30 days | (i) 12,24,00,000 (ii) 135,39,57,68,557 | 81,420 | |
| 920 | Sandler And Travis Trade Advisory India Private Limited | Oct/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 3 months 10 days to 6 months 10 days | (i) Delay In filing Form FCGPR | The applicant company is engaged in business of Management consultancy activities. The applicant received foreign inward remittance. The company allotted equity shares and filed FC-GPR beyond the stipulated time of 30 days | 32,30,300 | 12,200 | |
| 921 | Ventureast Tenet Fund Ii | Oct/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 6 days to 2 years 8 months 21 days (ii) 6 days to 2 years 10 months 23 days (iii) 4 months 14 days to 1 years 4 months 27 days | (i) delay in reporting receipt of foreign inward remittances (ii) Delay In filing Form FCGPR (iii) neither the equity instrument were issued nor amount refunded to the person resident outside India | The applicant, represented by Ventureast Trustee Company Private Limited, is constituted as unit scheme of a Trust, registered with SEBI as a Venture Capital Fund on 27.12.2006, targeting to invest in undertakings primarily engaged in providing technology solutions for addressing the needs of the Digital Divide, Small & Medium Enterprises Sector, the IT & Communications Technology sectors and environment oriented technology sectors. The applicant reported receipt of remittances to the Reserve Bank and filed the form FC-GPR beyond the stipulated time of 30 days | (i) 12,88,77,520 (ii) 10,46,74,470 (iii) 225,370 | 497,303 | |
| 922 | The Biotechnology Venture Fund (Ventureast Trustee Company) | Oct/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 3 years 3 months 14 days to 6 years 1 months 30 days (ii) 3 years 3 months 9 days to 5 years 9 months 26 days | (i) delay in reporting receipt of foreign inward remittances (ii) Delay In filing Form FCGPR | The applicant, represented by Ventureast Trustee Company Private Limited, is constituted as unit scheme of a Trust, registered with SEBI as a Venture Capital Fund on November 09, 2002. The applicant is a venture capital fund, formed to make equity and equity linked investments in early stage companies engaged in the biotechnology sector for the development of the sector. It primarily focused on life sciences related areas of health care, drug discovery, agriculture, dairy, environmental and industrial applications. The applicant reported receipt of remittances to the Reserve Bank and filed the form FC-GPR beyond the stipulated time of 30 days. | (i)17,56,79,907 (ii) 17,56,83,01,440 | 3,772,500 | |
| 923 | Vizag Hospital And Cancer Research Centre Private Limited | Oct/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 4 days to 8 years 9 months 18 days (ii) 1 months 2 days to 6 years 4 months 9 days (iii) 11 days to 1 years 9 months 10 days (iv) 7 years 1 months 20 days | (i) Delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) Delay In filing Form FCGPR (iii) neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India within 180 days of the receipt of inward remittance (iv) taking on record transfer of shares in the books of the company without filing form FCTRS | Vizag Hospital & Cancer Research Centre Private Limited (VHCRC), Vizag, was incorporatedwith the objective of providing quality treatment of cancer and developing a cancer research centre. The applicant received foreign inward remittances from foreign investors towards subscription to equity shares. An Indian company issuing shares or convertible debentures in accordance with these Regulations should report to the Reserve Bank of India as per the prescribed procedure not later than 30 days from the date of receipt of the amount of consideration. The company delayed in allotment of shares beyond the stipulated period of 180 days from the date of receipt of inward remittances | (i) 179,03,775 (ii) 558,35,666 (iii) 315,96,165 (iv) 290,63,320 | 842,454 | |
| 924 | Innovare Labs Private Limited | Oct/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 1 days to 1 years 2 months 2 days (ii) 2 days to 11 months 26 days | (i) delay in reporting receipt of foreign inward remittances (ii) Delay In filing Form FCGPR | The company is engaged in the business of providing research and experimental development on natural sciences and engineering. The applicant reported receipt of remittances to the Reserve Bank and filed the form FC-GPR beyond the stipulated time of 30 days. | (i) 10,09,25,204 (ii) 11,65,26,359 | 173,010 | |
| 925 | Atum It Services India Private Limited | Oct/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 1 months 7 days to 1 years 1 months 9 days (ii) 2 - 5 days (iii) 1 years 2 months 27 days to 1 years 7 months 28 days | (i) delay in reporting receipt of foreign inward remittances (ii) Delay In filing Form FCGPR (iii) neither the equity instrument were issued nor amount refunded to the person resident outside India | The company is engaged in the business of computer programming, consultancy and related services. The applicant reported receipt of remittances to the Reserve Bank and filed the form FC-GPR beyond the stipulated time of 30 days. The company has delayed in allotment of shares beyond the stipulated period of 180 days in respect of remittances | (i) 165,18,993 (ii) 154,500 (iii) 164,42,596 | 132,034 | |
| 926 | Applause App Quality India Private Limited | Oct/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 5 months 2 days to 5 months 16 days (ii) 1 years 5 months 10 days (iii) 9 months 3 days to 9 months 11 days | (i) delay in reporting receipt of foreign inward remittances (ii) Delay In filing Form FCGPR (iii) Allotment of shares prior to receipt of share application money towards subscription to Memorandum of Association beyond the stipulated period of two months in terms | The company is engaged in the business of writing, modifying, testing of computer program to meet the needs of a particular client excluding webpage designing. The applicant reported receipt of remittances to the Reserve Bank and filed the form FC-GPR beyond the stipulated time of 30 days. The company delayed in allotment of shares beyond the stipulated period of 180 days from the date of receipt of inward remittances | (i) 100000 (ii) 100000 (iii) 100000 | 54,300 | |
| 927 | Tavrida Electric India Private Limited | Oct/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Filing | (i) 2 months 2 days | (i) Delay In filing Form FCGPR | The main objective of the applicant is business of electrical, electronic, mechanical, hydraulic and manufacture, repairs and dealing in electric, magnetic, galvanic apparatus, machinery and appliances, manufacturers, suppliers of all kinds of light, heat, sound and power, anything or articles capable of being used in connection with generation, transmission, distribution, supply, accumulation and employment of electricity etc. The applicant had received inward foreign remittances as Foreign Direct Investment (FDI) from its parent company. The applicant filed the form FC-GPR beyond the stipulated time of 30 days | 2,939,500 | 16,251 | |
| 928 | Saffron Brand Consultants India Private Limited | Oct/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 13 days to 3 years 5 months and 5 days (ii) 3 years 1 months 17 days to 3 years 10 months 17 days (iii) 2 years 9 months 1 days to 5 years 1 months 7 days | (i) neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India within 180 days of the receipt of the inward remittance (ii) delay in reporting receipt of foreign inward remittance towards subscription to equity (iii) delay in submission of Form FCGPR to the Reserve Bank | main activity is to carry on the business of providing consultancy and advisory services for selecting unique brand name, logo, trade mark, trade name, image, logo to express the personalities, quality, activities of the client and to make strategy visible and clear to all the audiences by developing a unique brand and serve the right understanding and wider knowledge of client personalities, quality, activities by different mode of publicity, advertisement viz. publishing books, magazines, novels, journals, special bulletins, news papers of all kinds and languages, or any kind of literature in India and abroad and to give publicity of clients brand, logo, trade mark through computer education, Knowledge CD’s, educational software programs, development of software, use of informational technology or holding conferences, seminars, educational camps whether individually or in collaboration with other organizations, governmental agencies, conducting and holding event shows etc. in India and abroad and to provide consultancy for importance of brand, trade mark and provide advisory and support services to the clients to register the brand, trade mark and making clients aware about development of brand, trade name, logo which is essential part in the business to reflect the identity and protecting the same by registering with the appropriate authorities in India and abroad in any industries and to advice the benefits of the brands and to provide consultancy on complete range of self development and other information relating to the strategy of the business and to assist in obtaining directly or indirectly benefit of the goodwill from the market. The applicant received foreign inward remittance from M/s Saffron Brand Consultants SA. Spain & M/s Saffron Brand Consultants Ltd. (Nominee Shareholders), United Kingdom towards equity / preference share capital and reported the same to the Reserve Bank | (i) 111,56,325 (ii) 171,62,920 (iii) 217,822 | 217,822 | |
| 929 | Yuanda International Aluminium Engineering India Private Limited | Oct/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 6 months 10 days later (ii) 1 days (iii) 9 days to 1 years 2 months 8 days | (i) neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India within 180 days of the receipt of the inward remittance (ii) delay in reporting receipt of foreign inward remittance towards subscription to equity (iii) delay in submission of Form FCGPR to the Reserve Bank | Its main activity is to carry on the business of designing, fabricating, installation of aluminium skylight, curtain wall, windows and doors, steel structure, large scale LED screen panel project, building illumination, automatic doors and sun shading indoors and outdoors, ventilation, smoke extraction, window clearing equipment, metal working platform and building clearing equipment, clearing and maintenance of curtain wall, processing of constructional engineering, interior and exterior decorative panel and stainless steel decorative panel, design, fabrication and installation of shield of whole set industrial machine, subway shield door, safety door, automatic check-in system, tram road traffic equipment, no-obstruct lift platform, design, fabrication and installation of photovoltaic glass and light wall, manufacture and installation of environment protection products. The applicant received foreign inward remittance from M/s Shenyang Yuanda Aluminium Industry Engineering Co. Ltd., China & Mr. Jingfeng Xiong, China towards equity / preference share capital and reported the same to the Reserve Bank | (i) 100,00,000 (ii) 165,09,000 (iii) 285,83,400 | 151,750 | |
| 930 | Perstorp Chemicals India Private Limited | Oct/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 11 years 4 months 5 days (ii) 11 years 4 months 7 days to 15 years 10 months 18 days (iii) 13 years 3 months 5 days to 15 years 8 months 27 days | (i) the transfer of shares by resident to nonresident without obtaining certified form FCTRS (ii) delay in reporting receipt of foreign inward remittance towards subscription to equity (iii) delay in submission of Form FCGPR to the Reserve Bank | Its main activity is (i) to carry on the business of manufacturers of and dealers in chemicals, chemical compounds( organic and inorganic) in all forms and chemical products of any nature and kind whatsoever and all by-products and joint products thereof, (ii) to carry on business as chemical engineers, analytical chemists, importers, exporters, manufacturers of and dealers in heavy chemicals acids, alkalies, petro-chemicals, chemical compounds and chemicals of all kind (solid, liquid and gaseous), drugs, medicines, pharmaceuticals, antibiotics, tannins, tannin extracts, essences, solvents, plastics of all types, dyestuffs, intermediates, textile auxiliaries, cellophanes, colours, dyes, paints, varnishes, vat and other organic dyestuffs, chemical auxillaries, disinfectants, insecticides, fungicides, deodorants, bio-chemicals and pharmaceutical, medicinal, mixing, bleaching, photographical and other preparations and articles, (iii) to carry on in India or elsewhere the business to manufacture, produce, process, compound, mix, pack, formulate, condense, distill, rectify. sterilize, pasteurise, steem, evaporate, vaporize, cool, filter, commercialize, develop, treat, cure, refine, extract, operate, manipulate, prepare, purify, protect, preserve, disinfect, turn to account and to act as broker, agent, stockists, distributors, consultants, collaborator, buyer, seller, exporter, importer, job worker, vendor, contractor, supplier or otherwise to deal in all types of organic, inorganic, industrial laboratory, photographic, fine, biological, pathological, pharmaceutical and other chemicals, compound, drugs, formulations preparations, acids, solvents, oils, solutions, derivatives, fluids, products, by products, residues, catalyst, reagents, mixtures concentrates, lumps, powders, granules and allied items and to do all necessary acts and things incidental for the attainment of the above objects. The applicant received foreign inward remittances from M/s Perstorp Speciality Chemicals Holding B. V., Netherlands towards equity / preference share capital and reported the same to the Reserve Bank | (i) 975,87,702 (ii) 15,90,24,206 (iii) 17,29,20,910 | 5,430,500 | |
| 931 | Tranzlease Automobile Solutions Private Limited | Oct/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 5 years 6 months to 6 years 3 months 9 days (ii) 24 days to 5 years 10 months 18 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR to the Reserve Bank | Its main activity is to engage in the business of providing managing maintenance support services to companies engaged in operating leases of automobiles other vehicles. The applicant received foreign inward remittance from Asia Lease Holding Company, Mauritius towards equity / preference share capital reported the same to the Reserve Bank. The applicant received foreign inward remittances from foreign investors towards subscription to equity shares and reported the same to the Reserve Bank beyond the prescribed period of 30 days from the date of receipt of consideration.The applicant filed the form FC-GPR beyond 30 days from the date of issue of shares to person resident outside India. | (i) 735,48,911 (ii) 16,55,03,532 | 1,495,000 | |
| 932 | Axiom Propack Private Limited | Oct/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 1 years 4 months 6 days to 3 years 2 months 5 days (ii) 9 months 19 days to 1 years 11 months 23 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR to the Reserve Bank | Its main activity is to carry on the business as manufacturers, producers, processors, buyers, sellers, dealers, importers, exporters, agents in all typers of containers, closures, of all kinds such as plastics, tins steel, glass, paper, aluminium, woodier including composite containers for industrial, domestic and commercial use and carry on the business of coating, lamination, printing slitting and other speciality coatings lamination, printing, foiling, slitting and other speciality coatings etc. The applicant received foreign inward remittances from foreign investors towards subscription to equity shares and reported the same to the Reserve Bank beyond the prescribed period of 30 days from the date of receipt of consideration.The applicant filed the form FC-GPR beyond 30 days from the date of issue of shares to person resident outside India | (i) 7,35,75,879 (ii) 7,35,72,840 | 468,760 | |
| 933 | Nine United Properties Private Limited | Oct/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Filing | (i) 1 years 7 months and 24 days | (i) delay in submission of Form FCGPR to the Reserve Bank | The company is engaged in hospitality services. The applicant filed the form FC-GPR beyond 30 days from the date of issue of shares to person resident outside India | 700,000,000 | 21,690 | |
| 934 | Idea Cellular Infrastructure Services Limited | Oct/2017 | FDI | FEMA 20/2000-RB | FDI - Non compliance of provisions | 9.5 years | downstream investment by an Indian company which is not owned and / or controlled by resident entity / ies, into another Indian company, which is not in accordance / compliance with the relevant sectoral conditions on entry route, conditionalities and caps, with regard to the sectors in which the latter Indian company is operating. | The applicant is engaged in the business of providing passive infrastructure support through telecom towers. ICISL is a wholly owned subsidiary of IDEA. Regulation 14(6) of Notification No.FEMA.20/2000-RB dated May 03, 2000 as amended from time to time states that “....Downstream investment by an Indian company, which is not owned and / or controlled by resident entity / ies, into another Indian company, would be in accordance / compliance with the relevant sectoral conditions on entry route, conditionalities and caps, with regards to the sectors in which the latter Indian company is operating….”. | 500,000 | 107,500 | |
| 935 | Rajesh Khursija | Oct/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Filing | (i) 1 months to 4 months (ii) | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | It is engaged in the business of construction and development of integrated townships. APL obtained license from the Uttar Pradesh Government for the development of an Integrated Township Project in Uttar Pradesh on January 22, 2007. In this connection, APL received foreign inward remittances for issue of shares from its foreign investor, Danat Mauritius -1 Limited, Mauritius on different dates from November 2007 to February 2010. However, there was delay in reporting remittances to RBI beyond the stipulated period of 30 days | (i) 36,46,05,961 (ii) 59,47,83,816 | 22,000 | |
| 936 | Ramandeep Singh | Oct/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in Filing | (i) 1 months to 4 months (ii) | (i) Delay in reporting receipt of funds for issue of shares (ii) Delay In filing Form FCGPR | It is engaged in the business of construction and development of integrated townships. APL obtained license from the Uttar Pradesh Government for the development of an Integrated Township Project in Uttar Pradesh on January 22, 2007. In this connection, APL received foreign inward remittances for issue of shares from its foreign investor, Danat Mauritius -1 Limited, Mauritius on different dates from November 2007 to February 2010. However, there was delay in reporting remittances to RBI beyond the stipulated period of 30 days | (i) 36,46,05,961 (ii) 59,47,83,816 | 22,000 | |
| 937 | Venus Aesthetic LLP | Oct/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 1 years. (ii) 2 years. | (i) receipt of capital contribution on behalf of the overseas partner by the resident LLP without prior approval of the Government/FIPB (ii) nonreporting of the amount received towards capital contribution | The applicant is engaged in business of providing aesthetic treatment, anti-aging treatment, body sculpting treatment etc. and research in the related field. the applicant did not obtain the prior approval from Foreign Investment Promotion Board (FIPB), Department of Economic Affairs, Ministry of Finance, Govt. of India, which was a mandatory requirement under the then Notification No. FEMA 20/2000-RB. On request of the applicant, the FIPB granted post-facto approval for foreign collaboration vide letter dated April 05, 2016 with one of the conditions that applicant has to approach Reserve Bank for compounding within 90 days of issue of the approval letter. Further, the applicant did not report the details of the receipt of the amount of consideration for capital contribution in Form FDI-LLP(I) along with requisite documents/information to the Regional Office concerned of the Reserve Bank. | 15,30,000 | 72,650 | |
| 938 | Azure Power India Private Limited | Oct/2017 | FDI | FEMA 20/2000-RB | FDI - contraventions of the provisions | 11 months | recording of transfer of shares in the books of the company without obtaining a copy of FCTRS | The company is engaged in the business of generation of solar power. An Indian entity shall not issue any security to a person resident outside India or shall not record in its books any transfer of security from or to such person provided that the Reserve Bank may, on an application made to it and for sufficient reasons permit an entity to issue any security to a person resident outside India or to record in its books transfer of security from or to such person, subject to such conditions as may be considered necessary. However the company defaulted | 605,843 | 16,416 | |
| 939 | Satnam Sanghera | Oct/2017 | FDI | FEMA 20/2000-RB | FDI - contraventions of the provisions | 11 months | transfer of shares held on nonrepatriable basis from nonresident Indian to NonResident entity without obtaining specific approval of the Reserve Bank of India | The company is engaged in the business of generation of solar power. An Indian entity shall not issue any security to a person resident outside India or shall not record in its books any transfer of security from or to such person provided that the Reserve Bank may, on an application made to it and for sufficient reasons permit an entity to issue any security to a person resident outside India or to record in its books transfer of security from or to such person, subject to such conditions as may be considered necessary. However the company defaulted | 605,843 | 80,292 | |
| 940 | Jasmin Infotech Pvt Ltd | Oct/2017 | ODI | FEMA 120/RB-2004 | ODI - Contravention of Provisions | (i) 2 years | (i) non reporting of investment in the overseas Wholly Owned Subsidiary (ii) non submission of forms APR relating to the WOS | The company was in the business of providing design and development services covering hardware and software, customisable product designs and IPs, system integration and other solutions that improve quality and accelerate time-to-market for a broad range of embedded systems. • The applicant set up a wholly owned subsidiary in in 2010 by the name Jasmin Infotech Inc by remitting funds through Canara Bank. However, the company did not submit form ODI 1 for the above transaction allegedly due to ignorance of rules, it being their first investment overseas, nor was it advised by its AD bank to do so. • The company also did not file the mandatory Annual Performance Reports (APRs) with respect to its US WOS since 2010.According to paragraph 15(iii) ibid, an Indian Party, which has acquired foreign security in terms of the Regulations in Part- I, shall “submit to the Reserve Bank every year within 60 days from the date of expiry of the statutory period as prescribed by the respective laws of the host country for finalisation of the audited accounts of the Joint Venture/Wholly Owned Subsidiary outside India or such further period as may be allowed by Reserve Bank, an annual performance report in form APR …”. | 4,711,004 | 109,900 | |
| 941 | Ambi Vijay Steel Suppliers Pvt Ltd | Nov/2017 | ODI | FEMA 120/RB-2004 | ODI - Contravention of Provisions | (i) 7 years and 3 months (ii) | (i) delayed submission of Form ODI Part III of the Annual Performance Report (APR) (ii) disinvestment within one year of investment without prior approval of reserve Bank of India | The applicant is engaged in the business of trading in steel and related products. • The applicant defaulted in submitting the APRs to the Reserve Bank every year within 60 days from the date of expiry of the statutory period as prescribed by the respective laws of the host country for finalisation of the audited accounts of the Joint Venture / Wholly Owned Subsidiary outside India or such further period as may be allowed by Reserve Bank • The applicant invested in an overseas Joint Venture (JV) M/s. BR Patel Incorporated Inc., USA on July 17, 2009 by acquiring 510 shares at US $ 10 each aggregating to US $ 51,000.00. The applicant disinvested the entire investment without write-off on March 19, 2010 within one year without the permission of reserve Bank of India. Thus, this disinvestment in 2010 was in contravention of the regulation 16(1)(v) read with 16(3) of the Notification No FEMA 120-RB 2004). | (i) 24,63,30,000 (ii) US $ 5100000 | 68,475 | |
| 942 | C & S Electric Limited | Nov/2017 | ODI | FEMA 120/RB-2004 | ODI - Contravention of Provisions | 7 years | (i) Delayed submision of Form ODI which was due to failure of AD in filing it within prescribed time lines and hence, no penalty was imposed on applicant and (ii) Delayed submiion of Annual Performance Report (APR) | The applicant is engaged in the business of manufacture of a wide range of electrical and electronic products which find application in power generation, distribution, control, protection and final consumption. The applicant had set up a wholly owned subsidiary (WOS) M/s. C & S Middle East FZE (subsequently renamed as Eta-Com Middle East FZE) in the year 2008 in Sharjah, United Arab Emirates by remitting AED 150,000.00 in October 2008.Subsequently 5 more remittances aggregating AED 416,580 during August 2009 to September 2010 were sent by the applicant. However, Form ODI were finally reported through the AD between January to May 2017. However, based on documents and AD letter, it was clear that Applicant had filed Fomr ODI with the AD within the time lines but AD did not file the same with RBI within time lines. Accordingly, no penalty was levied for late filing of Form ODI as it was fault of AD and not of Applicant. The applicant has also submitted the APRs for the years ended 2009 to 2016 with delay beyond the stipulated period, thereby contravening Regulation 15(iii) of Notification No FEMA 120-RB 2004. | 724,768,000 | 80,000 | |
| 943 | Lupin Limited | Nov/2017 | ODI | FEMA 120/RB-2004 | ODI - Contravention of Provisions | 2 years | investment undertaken by the IInd level Step down subsidiary (wholly owned subsidiary) of Indian Party in the subsidiary in India for acquiring the shares thereof. | The Lupin Ltd is engaged in the business of Chemicals, Pharmaceuticals, medicine etc; • In the instant case, the Ist level SDS had entered into an agreement with Gavis Group Companies for buying their three companies for USD 1820 (including their subsidiaries in India and USA) on February 29, 2016 which consists of 1) VGS Holdings Inc; USA, 2)Gavis Pharmaceuticals LLC USA and 3) Novel Laboratories Inc, USA. These overseas entities were treated as IInd level Step down subsidiary of Indian Party. The IInd level SDS “Novel Laboratories Inc; USA has its subsidiary in India in the name of Novel Clinical Research India Pvt Ltd and holds 99.99% Stake thereof. In terms of agreement dated February 29, 2016, Lupin Inc USA had paid USD 1820 for acquisition of above three companies of Gavis Group including their subsidiary in India and USA. The acquisition of the subsidiary in India is not in Line with regulation 6(2)(ii) Notification No. FEMA 120 /RB-2004 dated July 7, 2004. | 122,062 | 50,610 | |
| 944 | Arun Mammen | Nov/2017 | Foreign Currency Accounts by a Person Resident in India | FEMA 10/2000-RB | Contravention of provision | 2 months to 6 years | opening and maintenance of Foreign Currency Accounts abroad by a resident Indian. | The applicant, Shri Arun Mammen, a resident Indian,along with his brother, Shri Kandathil Mammen, with a view to pursue other business activities, namely consultancy and advisory services outside India, opened various foreign currency accounts overseas, in order to credit their earnings abroad This was in contravention of Regulation 3 of Notification No. FEMA 10/2000-RB, as amended from time to time. | 656,777,078 | 6,945,495 | |
| 945 | Niton Valve Industries Pvt Ltd | Nov/2017 | ODI | FEMA 120/RB-2004 | ODI - Contravention of Provisions | (i) more than 3 years | (i) making of Overseas Direct Investment in WOS by way of Standby Letter of Credit (SBLC) without submitting Annual Performance Report (APR) in the prescribed format (ii) nonsubmission of Annual Performance Reports (APRs) | The applicant is engaged in the business of industrial valves, fittings, castings, forgings, expansion joints and other engineering apparatus. • the applicant invested an amount of €10,000 in WOS in Italy under the name Valvinox, SRL. On March 12, 2013, the applicant provided a Standby Letter of Credit (SBLC) from its Authorised Dealer (AXIS Bank), for €50,000, under the automatic route, in favour of UBI Banca Popolare Commercio E Industria SPA, Italy in lieu of extending credit facilities to the aforementioned WOS. The SBLC was valid until March 11, 2015. However, the applicant did not submit the APRs in the prescribed form within the defined time limits before providing the SBLC. | 3,536,575 | 122,988 | |
| 946 | TLC Relationship Management Pvt Ltd | Nov/2017 | ODI | FEMA 120/RB-2004 | ODI - Contravention of Provisions | (i) more than 11 months (ii) 6 months 19 days. | (i) delay in submission of Form ODIPart I (ii) delay in submission of share certificate to the AD bank (iii) delay in submission of Annual Performance Reports (APRs). | The applicant is engaged in the business of customer relationship management and development as consultant, marketers, implements of call centres, IT services, loyalty programme etc. • The applicant acquired 50% stake in TLC International Ltd. Kenya from its group company Preferred Card Marketing Pvt. Ltd. (PCML) for a consideration of US$29,741. The rupee equivalent amount of ₹19,26,649/- was transferred to PCML on October 14, 2015. However, the applicant did not submit the Form ODI-Part I in respect of the above transaction within the prescribed timeframe. The share certificate was submitted to the AD bank with a delay of more than six months and the Annual Performance Reports (APRs) in the prescribed form were also not submitted in prescribed time limits. | 1,926,649 | 62,500 | |
| 947 | Basant Gurnani | Nov/2017 | FEMA -Borrowing & Lending in Rupees Regulations 2000 | FEMA 4/2000-RB | Non repayment of loan | 1 years 2 months to 3 years 4 months | repayment of loan availed from a nonresident Indian beyond the period of three years | The applicant is a resident individual, who had borrowed an amount of Rs. 1,77,50,000/- from an NRI. It was an interest free loan and the loan amount was received from the Non-resident Ordinary (NRO) account of Shri Jayant Dhamanmal Gandhi. According to Regulation 4(ii) of Notification No. FEMA 4 /2000-RB, the loan was to be repaid within a period of three years. However, the loan repayment exceeded three years in contravention to the provision of FEMA. | 17,750,000 | 159,625 | |
| 948 | Boehringer Ingelheim India Pvt Ltd | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - Contravention of a regulation | 1 years 10 months | receiving the foreign investment in brownfield pharmaceutical sector at a time when the sector was under 100% Government Route without obtaining fresh approval from Foreign Investment Promotion Board (FIPB), Government of India | Applicant is engaged in the business of pharmaceuticals, consumer healthcare and clinical operations. • The applicant received foreign investment in the brownfield pharmaceutical sector without obtaining fresh approval from FIPB during the period between November 08, 2011 and May 12, 2015 when foreign investment in brownfield pharmaceutical sector was under 100% Government route and any fresh inflow of foreign investment would have required fresh FIPB approval thereby contravening the said FEMA provisions. | 14,145 | 827,975 | |
| 949 | Carryage Technologies Pvt Ltd | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 1 months to 2 months (ii) 2 months to 9 months | (i) delay in reporting foreign inward remittances (ii) delay in reporting allotment of shares after receipt of the funds | The applicant is engaged in the business of providing technology based solutions primarily via mobile applications for the transportation sector to enable booking of transport vehicles for transport of goods. • CTPL received FDI and has reported the receipt of foreign inward remittances beyond the prescribed of 30 days from the date of receipt. • CTPL reported the allotment of equity shares in Form FC-GPR beyond the prescribed period of 30 days from the date of issue of shares to person resident outside India. | (i) 553,76,36,125 (ii) 553,74,810 | 51,625 | |
| 950 | Optum Global Solutions (India) Pvt Ltd | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - Contravention of Provisions | 1 years | transfer of shares from NRI to NR, for which prior RBI approval was not obtained | • Transfer of shares (10 equity shares) from Mr Belur Manjappa Chittaranjan, NRI to United Health International Inc of USA, NR required prior RBI approval (as Regulation 9(2)(ii) of FEMA 20 permits only NRI to NRI transfer of shares). Further, in light of Regulation 4 of FEMA 20, such approval of RBI was required to enable the investee company to record the transfer in its books. | 113,210 | 11,000 | |
| 951 | You Broadband India Ltd | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 1 months to 3.5 years (ii) 1 months to 3 months (iii) 2 years | (i) delay in reporting receipt of funds for issue of shares (ii) delay in filing of form FCGPR (iii) acquiring shares through shareswap without prior approval of FIPB | The applicant is engaged in the business of providing broadband internet access to home and enterprise subscribers, internet telephony, sale and leasing of ducts etc. • The applicant received the foreign inward remittances in which there was a delay in reporting beyond stipulated perios of 30 days. • The applicant also filed form FC-GPR beyond stipulated period of 30 days thus contravening the provision. • Further, the applicant entered into a share swap agreement without prior FIPB approval, in contravention of the then prevailing Para 3(c) of Schedule I of Notification No. FEMA 20/2000-RB. | (i) 245,94,54,880 (ii) 269,99,36,780 (iii) 2745,3,640 | 5,227,703 | |
| 952 | Mr. Belur Manjappa Chittaranjan | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - Contravention of Provisions | 1 years | transfer of shares from NRI to NR, for which prior RBI approval was not obtained | The applicant transferred his shares to United Health International without obtaining approval from RBI. Transfer of shares (10 equity shares) from Mr Belur Manjappa Chittaranjan, NRI to United Health International Inc of USA, NR required prior RBI approval (as Regulation 9(2)(ii) of FEMA 20 permits only NRI to NRI transfer of shares) Transfer of shares without obtaining RBI approval was a contravention of Regulation 3 of FEMA 20/2000-RB | 113,210 | 50,566 | |
| 953 | Rajan Mittal | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - Contravention of Provisions | 3 months | not taking prior approval of RBI for transfer of shares from NRI to NR. | The applicant an NRI held 1,000 shares of an Indian company Metrod Metals Private Limited on non-repatriation basis. The applicant transferred these shares to Metrod (Mauritius) Private Ltd., an NR without obtaining approval from RBI. Transfer of shares (1000 equity shares) from Mr Rajan Mittal, NRI to Metrod (Mauritius) Private Ltd, NR required prior RBI approval (as Regulation 9(2)(ii) of FEMA 20 permits only NRI to NRI transfer of shares). Transfer of shares without obtaining RBI approval was a contravention of Regulation 3 of FEMA 20. | 10,000 | 1,000 | |
| 954 | Pipartoda Renewable Energy Pvt Ltd | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 5 to 63 days. (ii) 18 to 266 days | (i) delay in reporting foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR | The company is engaged in electric power generation using non-conventional sources • The applicant company has received total eight inflows amounting to ₹39,32,23,740/- from foreign investors under automatic route and reported the same to Reserve Bank of India beyond the prescribed perios of 30 days from the date of receipt of the amount of consideration. • The applicant allotted equity shares / compulsorily convertible debentures (CCDs) and filed FC-GPRs beyond the prescribed timeline of 30 days from the date of issue of shares / CCDs to the overseas investor. | (i) 25,38,78,949 (ii) 39,32,23,692 | 165,080 | |
| 955 | Zoomcar India Pvt Ltd | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | 4 days to 8 months and 7 days | delay in reporting receipt of foreign inward remittances towards subscription to equity | The company is in the business of providing self-drive cars on rent. • The applicant had received funds towards share application money from foreign investor, M/s Zoomcar INC, USA, The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank with a delay ranging from four days to eight months and seven days , beyond the stipulated time of 30 days. | 1,344,733,432 | 280,780 | |
| 956 | Kadavanthara Builders Private Limited | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 1 months and 4 days to 1 months and twenty days (ii) 1 months | (i) delay in reporting foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR | The Company is mainly engaged in the business of construction and development of land. • The applicant had received funds towards share application money from foreign investor. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank with a delay ranging from one month and four days to one month and twenty days , beyond the stipulated time of 30 days • The applicant filed the Form FC-GPRs, on allotment of shares, with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank, with a delay of one month , beyond the prescribed period of 30 days. | (i) 10,11,67,70,200 (ii) 24,42,90,00,000 | 45,000 | |
| 957 | Mathworks India Private Limited | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 3 years, 2 months and 9 days to 3 years, 4 months and 27 days (ii) 14 days to 7 years, 1 months and 18 days (iii) 3 years and 10 days to 7 years, 2 months and 25 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) allotment of shares prior to receipt of share application money Issue delay in submission of Form FCGPRs | The company is engaged in the business of developing, designing, manufacturing, assembling, licensing, sub-licensing, testing, selling, marketing, exporting, importing and otherwise dealing in all kinds of computer software for all industries. • The applicant had received funds towards share application money from foreign investor. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank with a delay ranging from one month and four days to one month and twenty days , beyond the stipulated time of 30 days • the company had allotted 75,000 equity shares, to M/s The Mathworks INC, USA, for a total consideration of Rs.91,68,024.00, whereas the inward remittance was received only on July 23, 2015, with a delay of seven years, one month and eighteen days , in contravention of terms of paragraph 8 of Schedule 1 to Notification No. FEMA 20/2000-RB. • The applicant filed the Form FC-GPRs on allotment of shares with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank beyond the prescribed period of 30 days in respect of allotment of shares. | (i) 42,47,70,200 (ii) 91,96,02,400 (iii) 134,18,02,400 | 209,600 | |
| 958 | Axcend Automation & Software Solutions Pvt Ltd | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | 8 days to 4 years, 2 months and 12 days | delay in submission of Form FCGPRs | The Company is mainly engaged in the business of publishing of operating systems and system software. • The company allotted equity shares and filed Form FC-GPRs with Reserve Bank/AD Bank beyond the prescribed period of 30 days, in respect of allotments | 2,115,623,286 | 222,580 | |
| 959 | TUV Rheinland India Pvt Ltd | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | 1 days to 1 years, 6 months and 7teen days | delay in reporting receipt of foreign inward remittances towards subscription to equity | The company is in the business of testing and certifying the quality/safety of various products including material components, home appliances, audio/video appliances, office equipment, medical equipment, industrial devices, apart from offering management certificate systems such as ISO 9001, ISO 14001 and homologation, etc • The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank beyond the stipulated time of 30 days | 1,619,654,793 | 203,270 | |
| 960 | J C Penney Services India Pvt Ltd | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) twenty 3 days to 4 months and 12 days (ii) 2 months and 7 days to 6 months and 12 days | (i) delay in reporting foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR | The Company is mainly engaged in the business of providing information technology and computer services to group companies. • The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank beyond the stipulated period of 30 days, in respect of all remittances • The applicant filed the Form FC-GPRs, on allotment of shares, with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank, with a delay of one month , beyond the prescribed period of 30 days. | (i) 665,55,12,300 (ii) 665,55,10,800 | 68,080 | |
| 961 | Net Right Technologies Private Limited | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 2 months and 15 days (ii) 3 months and 19 days | (i) delay in reporting foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR | The Company is mainly engaged in the business of providing computer programming services and other consultancy services to its holding company. • The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank beyond the stipulated period of 30 days, in respect of all remittances • The applicant filed the Form FC-GPRs, on allotment of shares, with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank, with a delay of one month , beyond the prescribed period of 30 days. | (i) 120,00,00,000 (ii) 120,00,00,000 | 49,000 | |
| 962 | Start Up Farms It Pvt. Ltd. | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 25 to 1303 days (ii) 235 to 2446 days | (i) delay in submission of FCGPR to the Reserve Bank after issue of shares (ii) delay in issuance of shares | The company is a private Limited company engaged in the business of software, development and production of computer software, computer graphics, computer aided designing and analysis, etc. • The applicant reported the allotment of shares to Reserve Bank with delay ranging from 25 to 1303 days. The delay in reporting to Reserve Bank of India in form FCGPR, beyond the prescribed period in respect of allotment of the above shares is in contravention of paragraph 9(1) (B) of Schedule 1 to FEMA Notification No.20/2000RB dated May 3, 2000, in terms of which an Indian company issuing shares in accordance with these regulations has to submit to Reserve Bank of India a report in Form FCGPR along with documents prescribed therein within 30 days from the date of issue of shares to a person resident outside India. • The applicant issued the shares after receipt of the inflows with delay ranging from 235 to 2446 days. The delay in issuance of shares, beyond the prescribed period is in contravention of paragraph 8 of Schedule 1 to FEMA Notification No. 20/ 2000RB dated May 3, 2000, in terms of which an Indian company in accordance with these regulations has to issue the shares within 180 days from the date of receipt of the amount of consideration. | (i) 19,02,05,73,325 (ii) 12,97,90,15,675 | 825,196 | |
| 963 | Rana Polycot Ltd. | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in issue of shares | 92 and 50 days | delay in issuance of shares | The applicant is engaged in manufacturing of Yarn and Fabrics of cotton, Cotton Textiles etc • The applicant issued the shares after receipt of the inflows with delay of 92 and 50 days respectively. The delay in issuance of shares, beyond the prescribed period is in contravention of paragraph 8 of Schedule 1 to FEMA Notification No. 20/ 2000RB dated May 3, 2000, in terms of which an Indian company in accordance with these regulations has to issue the shares within 180 days from the date of receipt of the amount of consideration. | 3,275,698,300 | 128,271 | |
| 964 | Socomo Technologies Pvt. Ltd. | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 223 days. (ii) 194 to 861 days (iii) 417 to 709 days | (i) delay in reporting foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR (iii) delay in application for refund of excess amount | The applicant is engaged in the business of Technology enabled services, IT research, development, training & implementation, customer support services etc. • The applicant company received foreign inward remittances towards investment in equity shares from non-residents. The above remittance was not reported to Reserve Bank of India within the prescribed time period of 30 days from the date of receipt of the amount of consideration. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India • The applicant allotted the shares and applied for permission to refund the excess amount with delay ranging from 417 to 709 days. The delay in applying for refund of excess amount, beyond the prescribed period of 180 days from the date of receipt of the amount of consideration. | (i) 143,12,000 (ii) 14,16,01,19,850 (iii) 81,50,500 | 308,687 | |
| 965 | Aspen Care Private Limited | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 12 days to 2 months 14 days (ii) 2 months 7 days (iii) 4 months 10 days | (i) delay in reporting foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR (iii) delay in application for refund of excess amount | The applicant company is engaged in business of electric power generation using solar energy. • The applicant company received foreign inward remittances towards investment in equity shares from non-residents. The above remittance was not reported to Reserve Bank of India within the prescribed time period of 30 days from the date of receipt of the amount of consideration. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India • The applicant allotted the shares and applied for permission to refund the excess amount with delay of four months 10 days. The delay in applying for refund of excess amount, beyond the prescribed period of 180 days from the date of receipt of the amount of consideration. | (i) 810,49,654 (ii) 300,00,000 (iii) 500,322 | 104,752 | |
| 966 | SEI Aditi Power Pvt Ltd | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 2 months 3 days (ii) 4 months 12 days to 1 years 2 months 10 days | (i) delay in reporting foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR | The applicant company is engaged in business of electric power generation using solar energy. • The applicant company received foreign inward remittances towards investment in equity shares from non-residents. The above remittance was not reported to Reserve Bank of India within the prescribed time period of 30 days from the date of receipt of the amount of consideration. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India | (i) 11,60,25,000 (ii) 80,22,93,351 | 348,970 | |
| 967 | GMT Ice & Cream Art (India) Pvt Ltd | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 4 days to 1 years 2 months 20 days (ii) 1 days to 1 years 23 days (iii) 5 months 28 days | (i) delay in reporting foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR (iii) delay in allotment of shares | The applicant company is engaged in business of manufacture of ice-cream, kulfi etc. • The applicant company received foreign inward remittances towards investment in equity shares from non-residents. The above remittance was not reported to Reserve Bank of India within the prescribed time period of 30 days from the date of receipt of the amount of consideration. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India • The company allotted shares against a remittance. The company allotted shares beyond the prescribed period of 180 days with prior approval of Reserve Bank. | (i) 13,92,343 (ii) 116,58,790 (iii) 236,700 | 58,160 | |
| 968 | Leapinc Business Solutions Private Limited | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 2 days to 1 months 13 days (ii) 1 months 7 days to 2 months 15 days | (i) delay in reporting foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR | The applicant company is engaged in business of wholesale of other machinery, equipment and supplies n.e.c. including computer-controlled machine tools and computer-controlled sewing and knitting machines. • The applicant company received foreign inward remittances towards investment in equity shares from non-residents. The above remittance was not reported to Reserve Bank of India within the prescribed time period of 30 days from the date of receipt of the amount of consideration. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India | (i) 104,16,642 (ii) 126,00,000 | 23,225 | |
| 969 | Bhomiaji Infrastructure Private Limited | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | 9 years 10 months 27 days | delay in refund of excess inward remittance | The applicant company is engaged in business of purchase, sale, letting and operating of real estate such as residential and non-residential buildings, developing & subdividing real estate into lots, lessors of real property, real estate agents, brokers and managers engaged in renting, buying and selling, managing and appraising real estates on a contract or fee basis. • The company refunded the excess inward remittances remaining after allotment beyond the stipulated time of 180 days with prior approval of Reserve Bank. | 1,206,610 | 58,575 | |
| 970 | Chennai Business Park Private Limited | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | 1 years 9 months 17 days to 9 years 8 months 29 days | delay in refund of excess inward remittance | The applicant company is engaged in business of construction of buildings carried out on own-account basis or on a fee or contract basis. • The company refunded the excess inward remittances remaining after allotment beyond the stipulated time of 180 days with prior approval of Reserve Bank. | 749,503,259 | 8,324,225 | |
| 971 | Dhyan Art Materials And Canvas Pvt Ltd | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | 9 years 11 months 11 days | delay in refund of excess inward remittance | The applicant company is engaged in business of manufacture of other articles n.e.c. • The company refunded the excess inward remittances remaining after allotment beyond the stipulated time of 180 days with prior approval of Reserve Bank. | 10,283 | 10,283 | |
| 972 | Ohmic Research India Pvt Ltd | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 2 years 24 days to 2 years 25 days (ii) 2 years 2 months 22 days to 2 years 11 months 6 days | (i) delay in reporting foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR | The applicant company is engaged in business of research and experimental development on natural sciences and engineering • The applicant company received foreign inward remittances towards investment in equity shares from non-residents. The above remittance was not reported to Reserve Bank of India within the prescribed time period of 30 days from the date of receipt of the amount of consideration. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India | (i) 171,57,573 (ii) 171,49,990 | 241,580 | |
| 973 | Raqmiyat Information Technology Pvt Ltd | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 1 years 3 months 12 days to 1 years 7 months 26 days (ii) 7 years 1 months 8 days | (i) delay in reporting foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR | The applicant company is engaged in business of writing, modifying, testing of computer program to meet the needs of a particular client excluding web-page designing. • The applicant company received foreign inward remittances towards investment in equity shares from non-residents. The above remittance was not reported to Reserve Bank of India within the prescribed time period of 30 days from the date of receipt of the amount of consideration. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India | (i) 180,20,000 (ii) 180,20,000 | 416,540 | |
| 974 | Shreyas Renewable Energy Pvt Ltd | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | 5 days to 1 years 2 months 20 days | delay in submission of Form FCGPR | The applicant company is engaged in business of electric power generation using solar energy. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India | 14,755,936,512 | 139,160 | |
| 975 | Pratyash Renewable Pvt Ltd | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 2 months 10 days (ii) 5 days to 26 days | (i) delay in reporting foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR | The applicant company is engaged in business of electric power generation using solar energy. • The applicant company received foreign inward remittances towards investment in equity shares from non-residents. The above remittance was not reported to Reserve Bank of India within the prescribed time period of 30 days from the date of receipt of the amount of consideration. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India | (i) 6,845 (ii) 14,75,59,36,512 | 22,161 | |
| 976 | EDAC Engineering Limited | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 3 days to 11 days (ii) 22 days to 29 days | (i) delay in reporting foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR | The applicant company is engaged in business of construction and maintenance of power plants. • The applicant company received foreign inward remittances towards investment in equity shares from non-residents. The above remittance was not reported to Reserve Bank of India within the prescribed time period of 30 days from the date of receipt of the amount of consideration. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India | (i) 14,24,15,98,719 (ii) 20,16,00,000 | 40,720 | |
| 977 | Asahitec Stencils Private Limited | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 6 years 4 months 14 days to 9 years 6 months 17 days (ii) 6 years 3 months 27 days to 9 years 11 months 21 days | (i) delay in reporting foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR | The applicant company is engaged in business of machining; treatment and coating of metals. • The applicant company received foreign inward remittances towards investment in equity shares from non-residents. The above remittance was not reported to Reserve Bank of India within the prescribed time period of 30 days from the date of receipt of the amount of consideration. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India | (i) 139,59,270 (ii) 139,58,820 | 414,530 | |
| 978 | YSI Automotive Private Limited | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - Delay in reporting | (i) 1 days to 8 years 7 months 27 days (ii) 29 days to 8 years 3 months 23 days (iii) 21 days | (i) delay in reporting foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR (iii) delay in allotment of shares | The applicant company is engaged in business of forging, pressing, stamping and roll-forming of metal; powder metallurgy. • The applicant company received foreign inward remittances towards investment in equity shares from non-residents. The above remittance was not reported to Reserve Bank of India within the prescribed time period of 30 days from the date of receipt of the amount of consideration. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India • The company allotted shares against a remittance. The company allotted shares beyond the prescribed period of 180 days with prior approval of Reserve Bank. | (i) 38,81,90,94,968 (ii) 33,86,89,380 (iii) 4,07,00,75,824 | 5,618,163 | |
| 979 | DIS MRP Seals Pvt Ltd | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - delay in filing | (i) 12 years 2 months 18 days (ii) 10 months 25 days | (i) delay in submission of Form FCGPR (ii) allotment of shares prior to receipt of full consideration | The applicant company is engaged in the business of manufacture of other rubber products n.e.c. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India • The company has allotted 3250 shares of ₹ 10/- each amounting to ₹ 3,25,000/- on 30.03.2004. The consideration was brought in by way of inward remittance. The consideration was brought in with delay of 10 months 25 days . Whereas in terms of paragraph 8 of Schedule I to Notification No. FEMA 20/2000-RB, read with AP (Dir Series) Circular No.20 dated December 14, 2007 the shares have to be issued/amount refunded within 180 days from the date of receipt of the inward remittance. | (i) 325,000 (ii) 325,000 | 53,225 | |
| 980 | RA Chem Pharma Limited | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - delay in filing | 1 years 1 months 6 days to 6 years 11 months 19 days | taking on record transfer of shares by investee company, in the absence of certified form FCTRS | The company is engaged in the manufacture of chemicals and drug intermediaries. • The applicant has effected transfer of 2,49,292 equity shares between non-resident investors and resident investors in their books without filing form FCTRS or obtaining prior approval of Reserve Bank of India. | 48,052,927 | 177,500 | |
| 981 | Laxmi RA Holdings & Investments Private Limited | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - delay in filing | 8 years 9 months 7 days to 9 years 5 months 1 days | delay in filing form FCTRS towards reporting transfer of shares by resident to Nonresident | The main business activity of the company is trading of pharmaceutical products. • The applicant transferred the equity shares held in RA Chem Pharma Ltd (a company incorporated under the Companies Act of 1956 on January 08, 1996) to non-residents and delayed in filing of form FCTRS | 45,052,927 | 926,500 | |
| 982 | Ravula Sirish Kumar | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - delay in filing | 6 years 9 months 24 days | delay in filing form FCTRS towards reporting transfer of shares by resident to Nonresident | The applicant had transferred 24510 equity shares of M/s RA Chem Pharma Limited for a consideration amounting to ₹30,00,000/-. The applicant delayed in the filing of FCTRS beyond 60 days from the date of receipt of consideration in contravention of Regulation 10(A)(b)(i) read with Paragraph 10 of FEMA 20. | 3,000,000 | 27,075 | |
| 983 | AMR Carpets Pvt. Ltd | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - delay in filing | 1328 days. | delay in reporting foreign inward remittances | The Indian Company has received USD 80,328/- (INR 49,78,729.44) and USD 1,640/- (INR 1,01,647.20) on October 09, 2013 as Foreign Direct Investment. However, Indian company reported the foreign inward remittance to RBI beyond the prescribed period of 30 days from the date of receipt of the amount of consideration. | 508,037,664 | 39,104 | |
| 984 | Burberry India Pvt. Ltd. | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - delay in filing | 3 years 4 months and 22 days. | delay in submission of form FCGPR after allotment of shares | The company is engaged in the business of retail trading of readymade garments, accessories and apparels. • The applicant company had allotted equity shares on 5 occasions from February 15, 2010 to June 14, 2013. Out of which, on one occasion the company had reported equity shares amounting to Rs. 5,97,67,200.00 in form FC-GPR on 06.12.2016 with a delay of 3 years 4 months and 22 days, beyond the prescribed period of 30 days from the date of issue of shares to a person resident outside India in contravention of Paragraph 9(1) (B) of Schedule 1 to Notification No. FEMA 20/2000-RB dated May 3, 2000. • | 5,976,720,000 | 181,000 | |
| 985 | Rayagada Minerals And Chemicals Pvt. Ltd | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - delay in filing | 2 years 4 months 14 days to 2 years 11 months. | delay in submission of form FCGPR after allotment of shares | The company is engaged in the business of manufacture, sale, purchase, export, import and also deals and act as an agent distributors, suppliers in various chemicals . • The applicant company had allotted equity shares on 3 occasions from June 12, 2012 to January 9, 2014. Out of which, on two occasions company had reported equity shares amounting to Rs. 3,58,77,518.13 in form FC-GPR with a delay ranging of 2 years 4 months and 14 days and 2 years and 11 months (as detailed hereunder) beyond the prescribed period of 30 days from the date of issue of shares to a person resident outside India in contravention of Paragraph 9(1) (B) of Schedule 1 to Notification No. FEMA 20/2000-RB dated May 3, 2000. | 3,587,751,813 | 277,000 | |
| 986 | Onion Mobi Services Pvt. Ltd. | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - delay in filing | 2 months 20 days to 6 months and 21 days. | delay in submission of form FCGPR after allotment of shares | The company is engaged in the business of software design, development and distribution including on mobile platform both for Indian and International markets. • The company had allotted equity shares on 3 occasions and reported it in form FC-GPR with a delay ranging from 2 months and 20 days to 6 months and 21 days (as detailed hereunder) beyond the prescribed period of 30 days from the date of issue of shares to a person resident outside India in contravention of Paragraph 9(1) (B) of Schedule 1 to Notification No. FEMA 20/2000-RB dated May 3, 2000. | 3,190,452,000 | 72,500 | |
| 987 | Boeing International Corporation India Private Limited | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - delay in filing | 7 years, 04 months and 23 days | delay in submission of form FCGPR after allotment of shares | The company is engaged in the business of providing marketing and other support services in India with respect to the businesses carried on by the Boeing Group including providing other preparatory and auxiliary services in India to other Boeing Group companies. • The company had allotted 5079289 Equity Shares amounting to Rs. 33,01,53,785/- on December 21, 2009 and had reported it in form FC-GPR on June 12, 2017 with a delay of 7 years 04 months and 23 days beyond the prescribed period 30 days from the date of issue of shares to a person resident outside India in contravention of Paragraph 9(1) (B) of Schedule 1 to Notification No. FEMA 20/2000-RB dated May 3, 2000. | 33,015,378,500 | 1,128,000 | |
| 988 | Woodver Coatings Private Limited | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - delay in filing | (i) 2 years 3 months and 21 days (ii) 2 years 3 months and 22 days. | (i) delay in reporting foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR | The company is engaged in the business of manufacturing of paints, varnishes and similar coatings, printing ink and mastics. • The company had received a foreign inward remittance for issue of equity shares and reported the same beyond the prescribed period of 30 days from the date of receipt of the said amount. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India | (i) 41,00,00,000 (ii) 41,00,00,000 | 52,620 | |
| 989 | Metenere (Global) Limited | Nov/2017 | FDI | FEMA 20/2000-RB | FDI - delay in filing | 4 months and 16 days to 4 months and 24 days. | delay in submission of form FCGPR after allotment of shares | The company is providing management consultancy services. • The company had allotted equity shares on 3 occasions and reported it in form FC-GPR with a delay ranging from 4 months and 16 days to 4 months and 24 days (as detailed hereunder) beyond the prescribed period of 30 days from the date of issue of shares to a person resident outside India in contravention of Paragraph 9(1) (B) of Schedule 1 to Notification No. FEMA 20/2000-RB dated May 3, 2000. | 50,599,543,200 | 115,000 | |
| 990 | Bigtec Innovations Private Limited | Dec/2017 | FDI | FEMA 20/2000-RB | Contravention of Regulation | 1 years, 6 months and 6 days | The contravention sought to be compounded is allotment of shares as swap without prior approval of the Government | The Company is mainly engaged in the business of management consultancy activities. M/s Bigtec Innovations Private Limited is the Holding company of M/s Bigtec Private Limited. The subsidiary company shares were swapped and all the shareholders of the subsidiary company were allotted in the Holding company in the ratio 2:1. M/s Bigtec Innovations Private Limited had allotted 1,78,128 equity shares each on October 20, 2015, as swap to M/s Sujay Limited and M/s Chewbacca Services Limited in lieu of 1,78,128 shares of M/s Bigtec Private Limited held by them without the approval of Foreign Investment Promotion Board (FIPB). Whereas in terms of Paragraph 2, Sub Para 4(v) of Schedule 1 to Notification No. FEMA 20/2000-RB, a company engaged in a sector where foreign investment requires Government approval, may issue shares to a non-resident through swap of shares only with the approval of the Government. | 3,562,560 | 69,600 | |
| 991 | Avyukta Constructions Private Limited | Dec/2017 | FDI | FEMA 20/2000-RB | Contravention of Regulation | (i) 2 months | The contravention sought to be compounded is taking on record transfer of shares from nonresident Indian (NRI) to Nonresident (NR), without prior approval of the Reserve Bank of India. | The applicant is engaged in infrastructure business. An NRI, Ms. Raparthi Balamani,was allotted shares of the applicant which she transferred all her shares to M/s One Solar Lane LLC, USA, a Non-resident entity, vide a swap of shares arrangement, in return getting a shareholding in M/s One Solar Lane LLC, USA. As it was a swap of shares, there was no physical flow of funds. The above transfer was carried out without the approval of the Reserve Bank of India, and was taken on record by the applicant, in contravention of Regulation 4 read with Regulation 9(2)(ii) of Notification No. FEMA 20/2000-RB. | 15,429,123 | 18,333 | |
| 992 | Shree Bhavani Power Projects Private Limited | Dec/2017 | ECB | FEMA 3/2000-RB | Contravention of FEMA regulations | 10 years and 3 months | (i) borrowing in foreign exchange from the nonresident individual (ii) utilisation of borrowing in foreign exchange for a nonspecified purpose (iii)borrowing in foreign exchange without obtaining loan registration number from the Reserve Bank (iv) nonadherence to the specified reporting procedure | The applicant is engaged in the business of generation and supply of electricity and other allied activities. The applicant took an interest free loan of GBP 20,000 (equiv. to ₹16,13,984/-) from Shri David Luyombya, one of its directors. The amount was received by the applicant on April 26, 2007 and was repayable upon the project achieving positive cash flows. In February 2017, the applicant through its authorised dealer approached Reserve Bank for approval to repay the loan amount. The Reserve Bank, vide letter dated June 21, 2017, conveyed ‘no objection’ for repayment of loan subject to usual conditions and advised that the above contraventions can be compounded (a voluntary process) provided an application in prescribed format is made along with the requisite documents and fees. | 1,613,984 | 121,940 | |
| 993 | Pearson Education (Singapore) Pte. Ltd. | Dec/2017 | Establishment of BO/LO/PO in India | FEMA 22/2000-RB | To establish branch or Liaison Office undertaking activity not approved by RBI | 2 years 3 months and 25 days | permitted activities of Branch Office in India | The applicant was granted permission by the Reserve Bank to open a Branch Office in India. Although the Branch Office of the company ceased to carry on its activities,with effect from August 1, 2005, it had kept funds amounting Rs.13,00,00,000.00 in interest bearing Term Deposit with HSBC Limited from November 8, 2013 toFebruary 27, 2015. Deposit on maturity after 6 months for its business activity in India does not apply. Further, while the company kept its funds in current account until November 8, 2013, it was not enabled to place the funds in Term Deposit subsequently.Hence, the applicant has contravened Regulation 6(i) of Foreign Exchange Management (Establishment in India of Branch or Office or Other Place of Business) Regulations, 2000 notified vide Notification No. FEMA.22 /2000-RB dated May 03, 2000, as amended from time to time. | 13,00,00,00,000 | 9,491,250 | |
| 994 | Bigtec Pvt Ltd | Dec/2017 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | 1 years 6 months 6 days | FDI | FDI- Contravention of provision | 1,781,280 | 59,800 | |
| 995 | Songline Analytics Private Limited | Dec/2017 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 12 days to 1 years and 7teen days (ii) 10 months and 14 days to 11 months (iii) 1 years and 3 days to 1 years, 3 months and 15 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) I21 (iii) delay in submission of Form FCGPRs to the Reserve Bank | The company is engaged in the business of providing Software Support and maintenance to the Clients • The applicant had received funds towards share application money from the foreign investors. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank beyond the prescribed period of 30 days, from the date of receipt of the amount of consideration. • The company had allotted equity shares to the foreign investors. The company has refunded the excess amount beyond 180 days from the date of receipt of fund to the non-resident investor, without prior approval from Reserve bank of India. • The applicant filed the Form FC-GPRs, on allotment of shares, with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank, beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India. | (i) 47,03,86,600 (ii) 644,00,000 (iii) 45,28,30,440 | 62,900 | |
| 996 | Durag India Instrumentation Pvt Ltd | Dec/2017 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 1 months and 28 days to 1 years, 5 months and 7 days (ii) 8 days to 1 years, 1 months and 3 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank | The Company is mainly engaged in the business of manufacture of emission monitoring systems and combustion control equipments. • The applicant had received funds towards share application money from the foreign investors. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank beyond the prescribed period of 30 days, from the date of receipt of the amount of consideration. • The applicant filed the Form FC-GPRs, on allotment of shares, with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank, beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India. | (i) 90,00,00,000 (ii) 89,99,90,000 | 29,370 | |
| 997 | Little Eye Software Labs Private Limited | Dec/2017 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 1 months and 28 days to 1 years, 5 months and 7 days (ii) 8 days to 1 years, 1 months and 3 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank | The Company is mainly engaged in the business of other information technology and computer service activities. • The applicant had received funds towards share application money from the foreign investors. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank beyond the prescribed period of 30 days, from the date of receipt of the amount of consideration. • The applicant filed the Form FC-GPRs, on allotment of shares, with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank, beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India. | (i) 315,107,298 (ii) 361,05,556 | 22,150 | |
| 998 | Anuj Jain | Dec/2017 | ODI | FEMA 120/RB-2004 | Non reporting | (ii) 5 years | (i) outward remittance by a resident individual for acquiring 12.5% equity shares of Joint Venture in Germany under LRS scheme prior to August 5, 2013 (ii) Non reporting of remitted amount in the prescribed Form ODI Part I | The Indian Company namely “Shingora Textiles Limited” was incorporated on June 5, 2008 under the companies Act, 1956 and the same is engaged in the business of manufacturing and sale of textile products and allied activities. • The applicant “Anuj Jain”, resident individual and director of the Company “Shingora Textiles Limited” had undertaken ODI of Euro 3125 towards equity (of 12.5% shares) of JV in Germany incorporated in the name of “Shingora Europe GmbH” through HSBC bank on May 10, 2012 which is not in line with Regulation 5 (1) of the Notification No. FEMA120/RB-2004 as the remittance was made prior to August 5, 2013 • The resident individual was not eligible for undertaking ODI prior to August 5, 2013 under Notification No. FEMA. 120/ RB-2004 dated July 7, 2004. Thus, the applicant who had made investment in the JV as a resident individual on May 10, 2012 under Liberalised Remittance Scheme (LRS), had contravened the provisions of Regulation 5(1) whereas in terms of Regulation 5(1) of Notification No. FEMA 120/ RB-2004, “____ no person resident in India shall make any direct investment outside India______”. | (i) 219,86,280 (ii) 219,86,280 | 65,209 | |
| 999 | We Alliance Packaging India Pvt Ltd | Dec/2017 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 5 days to 2 years, 2 months and 15 days (ii) 11 days to 3 years, 10 months and 8 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank | The Company is mainly engaged in the business of wholesale of other clothing items. • The applicant had received funds towards share application money from the foreign investors. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank beyond the prescribed period of 30 days, from the date of receipt of the amount of consideration. • The applicant filed the Form FC-GPRs, on allotment of shares, with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank, beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India. | (i) 99,17,03,015 (ii) 99,16,42,500 | 41,185 | |
| 1.000 | Capital Small Finance Bank Ltd. | Dec/2017 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 118 to 280 days (ii) 129 days. | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank | The applicant is engaged in banking activities. • The applicant had received funds towards share application money from the foreign investors. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank beyond the prescribed period of 30 days, from the date of receipt of the amount of consideration. • The applicant filed the Form FC-GPRs, on allotment of shares, with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank, beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India. | (i) 2 07,82,31,600 (ii) 196,82,28,040 | 50,832 | |
| 1.001 | Lyca Productions Private Limited | Dec/2017 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 1 days to 4 years 11 months 19 days (ii) 25 days to 10 years 2 months 14 days (iii) 2 months 6 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank (iii) allotment of shares prior to receipt of consideration | The applicant company is engaged in business ofproduction of motion picture. • The applicant had received funds towards share application money from the foreign investors. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank beyond the prescribed period of 30 days, from the date of receipt of the amount of consideration. • The applicant filed the Form FC-GPRs, on allotment of shares, with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank, beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India. | (i) 27,13,55,100 (ii) 30,79,52,910 (iii) 99,990 | 1,080,884 | |
| 1.002 | Kukdong Coolant India Pvt Ltd | Dec/2017 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 5 years 1 months 4 days (ii) 5 years 1 months10 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank | The applicant company is engaged in business of manufacture of anti-freeze coolant. • The applicant had received funds towards share application money from the foreign investors. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank beyond the prescribed period of 30 days, from the date of receipt of the amount of consideration. • The applicant filed the Form FC-GPRs, on allotment of shares, with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank, beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India. | (i) 102,22,91,377 (ii) 102,22,910 | 537,000 | |
| 1.003 | Amit Jain | Dec/2017 | ODI | FEMA 120/RB-2004 | Contravention of FEMA regulations | (i) 5 years | (i) Non reporting of remitted amount in the prescribed Form ODI Part I | • The resident individual remitted Euro 3125 prior to August 5, 2013,towards equity (of 12.5% shares) of JV in Germany incorporated in the name of “Shingora Europe GmbH is in the contravention of Regulation 5(1) and non –reporting of the remitted amount in the prescribed Form ODI Part I is in contravention of Regulation 20A read with Para 1 and 2 of Part D of Schedule V of Notification No. FEMA 120 /RB-2004 dated July 7, 2004 • | 22,151,084 | 65,218 | |
| 1.004 | Titan Company Limited | Dec/2017 | ODI | FEMA 120/RB-2004 | Contravention of FEMA regulations | (i) 6 months | (i) routing of overseas investments made in a Wholly Owned Subsidiary (WOS) through AD other than the designated AD (ii) making a remittance without obtaining a fair value certificate | •The applicant is engaged in carrying on the business of manufacturing, trading and servicing of watches, clocks, jewelry, eyewear, accessories etc. The applicant set-up a WOS, namely, Favre Leuba AG in Switzerland, on January 13, 2012. The applicant remitted CHF 360,000 (INR 2,30,52,291) on November 06, 2014, through Canara Bank, whereas the designated AD of the applicant was HDFC Bank. However as per the FEMA regulations all the transactions related to investment in one WOS have to be routed through the same branch of the same bank. •Also the abovementioned remittance was undertaken without carrying out a fair valuation of the shares | 23,052,291 | 330,523 | |
| 1.005 | Optiemus Infracom Limited | Dec/2017 | ODI | FEMA 120/RB-2004 | Contravention of FEMA regulations | (i) 1 years ,11 months and 27 days (ii) 1 years, 2 months and 8 days (iii)11 months and 30 days. (1 years .). | (i) Delay in receipt of share certificates for its investment made in WOS | • The applicant is engaged in trading in mobile handsets and the accessories, call centre communication products. •contraventions sought to be compounded relate to delay in receipt of share certificates for its investment made in Wholly Owned Subsidiary (WOS) at Jebel, Dubai | 255,552,861 | 50,000 | |
| 1.006 | Solutions Infini Technologies (India) Pvt. Ltd. | Dec/2017 | ODI | FEMA 120/RB-2004 | Contravention of FEMA regulations | 1 years, 2 months and 8 days. | (i) Delay in submission of Form ODI Part I (ii) delayed submission of share certificate to AD bank | •The applicant is engaged in the business of providing bulk messaging and cloud telephony solutions • Form ODI for the transaction involving capitalisation of pre-incorporation expenses was submitted with a delay to the AD bank. | 126,674,093 | 15,000 | |
| 1.007 | SEI Adityashakti Private Limited | Dec/2017 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | 1 months 24 days to 9 months 7 days | delay in submission of Form FCGPRs to the Reserve Bank | The applicant company is engaged in business of electric power generation using solar energy. • The applicant filed the Form FC-GPRs, on allotment of shares, with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank, beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India. | 368,191,668 | 168,500 | |
| 1.008 | Elite Screens India P Ltd | Dec/2017 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 3 years 8 days (ii) 8 months 26 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank | The applicant company is engaged in business of other non-specialised wholesale trade n.e.c. (import and whole sale trading of screens). • The applicant had received funds towards share application money from the foreign investors. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank beyond the prescribed period of 30 days, from the date of receipt of the amount of consideration. • The applicant filed the Form FC-GPRs, on allotment of shares, with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank, beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India. | (i) 23,50,000 (ii) 23,50,000 | 77,150 | |
| 1.009 | Hittco Tools Ltd | Dec/2017 | ODI | FEMA 120/RB-2004 | Non reporting | (i) 1 days to 5 months | (i) nonreceipt of share certificates for its investment made in Joint Venture (JV) | • The applicant is engaged in the business of manufacture of cutting tools Viz., HSS drills, taps and carbide tools. •The applicant started a Joint Venture (JV) M/s. Hittco Tools (Thailand) Company Limited at Thailand with their partners, M/s. BHP Global Singapore Pte Limited, Singapore. The applicant to hold 51% of shares and the other partner to hold 49% of shares as per their JV agreement.The applicant not received share certificates for their investment made in the above JV. | 2,154,574 | 60,773 | |
| 1.010 | Intricast Overseas LLP | Dec/2017 | ODI | FEMA 120/RB-2004 | Non reporting | 1 year | disinvestment from the JV within one year of initial investment without approval of RBI | •The applicant was incorporated as Intricast Overseas LLP on June 16, 2016 with two designated partners at Ahemdabad. •The LLP was formed to invest in an overseas joint venture by the name of USA Indian Grocers Group LLC, formed with two foreign partner. The applicant remitted USD 102,000/- or INR 67,00,453/- in July 2016 towards equity of the JV. However, the JV could not commence any activity and remained inoperative since its incorporation. With the consent of all partners, it was decided to dissolve the company with effect from March 1, 2017. The entire investment, lying in a bank in USA was repatriated in two tranches on Feb 22, 2017 and March 2, 2017. The company filed an APR for the period from July 18, 2016 to Dec 31, 2016. | 6,700,453 | 83,502 | |
| 1.011 | Modern Montessori International India Pvt Ltd | Dec/2017 | ECB | FEMA 3/2000-RB | B/L- Misutilisation of ECB | (i) 4 years 1 months to 13 years and 2 months | (i) the borrower is not an eligible borrower in terms of extant ECB guidelines (ii) utilization of ECB proceeds as working capital for expansion of business is a nonpermissible (iii) draw down of the ECB without obtaining Loan Registration Number (LRN) from the Reserve Bank of India (RBI) is not permitted (iv) reporting guidelines were not adhered to | • The company is engaged in providing educational services rendered through non-technical colleges, schools, universities and other institutions. •The company had raised SGD 255,957.90 as a loan ifrom their foreign equity holder. As the applicant is engaged in the business of providing educational services, it is not eligible to raise such a loan. Further, the loan was utilized for a non- permissible end-use and drawdown of the loan took place without obtaining Loan Registration number (LRN) from the Reserve Bank of India (RBI). • As per extant provisions, companies engaged in providing educational services are not eligible to borrow in the form of ECB.ECB can be raised only for investment in real sector in India (such as import of capital goods, new projects, modernization/expansion of existing production units) under the automatic route. ECB availed for non-capital expenditure is not a permissible end use under the Automatic Route. •The draw-down by the applicant was made without making application for obtaining LRN from RBI. | 741,896,801 | 104,980 | |
| 1.012 | Smiley Monroe Rubber & Allied Products (India) Pvt Ltd | Dec/2017 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 1 years 6 months 29 days to 3 years 4 months 2 (ii) 2 years 5 months 27 days to 3 years 4 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank | The applicant company is engaged in business of manufacture of rubber conveyor or transmission belts or belting. • The applicant had received funds towards share application money from the foreign investors. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank beyond the prescribed period of 30 days, from the date of receipt of the amount of consideration. • The applicant filed the Form FC-GPRs, on allotment of shares, with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank, beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India. | (i) 132,09,66,292 (ii) 132,09,656 | 64,810 | |
| 1.013 | SEI Sitara Private Limited | Dec/2017 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 2 months 20 days (ii) 6 days to 1 years 4 months 19 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank | The applicant company is engaged in business of Electric power generation using solar energy • The applicant had received funds towards share application money from the foreign investors. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank beyond the prescribed period of 30 days, from the date of receipt of the amount of consideration. • The applicant filed the Form FC-GPRs, on allotment of shares, with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank, beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India. | (i) 609,12,000 (ii) 18,30,51,975 | 111,500 | |
| 1.014 | Rain Greens Systems Pvt Ltd | Dec/2017 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 2 months 5 days to 9 months 27 days (ii) 9 months 8 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank | The applicant company is engaged in business of providing software support and maintenance to the clients. • The applicant had received funds towards share application money from the foreign investors. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank beyond the prescribed period of 30 days, from the date of receipt of the amount of consideration. • The applicant filed the Form FC-GPRs, on allotment of shares, with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank, beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India. | (i) 25,00,000 (ii) 25,00,000 | 23,905 | |
| 1.015 | Naya Infra India Private Limited | Dec/2017 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 8 months 20days to 9 months 17 days (ii) 8 months 20 days to 9 months 17 days (iii) 9 months 14 days to 10 months 5 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank (iii) Refund of share application money to the overseas remitter beyond 180 days from the date of receipt of remittance | The company is engaged in the business of construction of commercial spaces. • The applicant had received funds towards share application money from the foreign investors. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank beyond the prescribed period of 30 days, from the date of receipt of the amount of consideration. • The applicant filed the Form FC-GPRs, on allotment of shares, with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank, beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India. • The company delayed in refund of share application money beyond the stipulated period of 180 days from the date of receipt of inward remittances | (i) 530,26,762 (ii) 248,59,300 (iii) 281,67,475 | 346,514 | |
| 1.016 | Avance Consulting Services Pvt Ltd | Dec/2017 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 9 years 15 days to 9 years 3 months 19 days (ii) 8 years 8 months 6 days to 8 years 11 months 13 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank | The company is engaged in Information Technology Enabled Services (ITES) and Information Technology Outsourcing business. • The applicant had received funds towards share application money from the foreign investors. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank beyond the prescribed period of 30 days, from the date of receipt of the amount of consideration. • The applicant filed the Form FC-GPRs, on allotment of shares, with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank, beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India. | (i) 898025 (ii) 893240 | 74,160 | |
| 1.017 | Dropsa Spicelube India Pvt Ltd | Dec/2017 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 5 months 28 days to 9 months 11 days (ii) 23 days to 3 months 4 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank | The company is engaged in the business of manufacturing other purpose general machinery • The applicant had received funds towards share application money from the foreign investors. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank beyond the prescribed period of 30 days, from the date of receipt of the amount of consideration. • The applicant filed the Form FC-GPRs, on allotment of shares, with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank, beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India. | (i) 179,97,34,150 (ii) 179,97,320 | 38,160 | |
| 1.018 | Perigord Premedia (India) Pvt Ltd | Dec/2017 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 4 days to 1months 30 days (ii) 29 days to 4 months 22 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank | •The company is engaged in the business of activities of holding companies. •The applicant had received funds towards share application money from the foreign investors. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank beyond the prescribed period of 30 days, from the date of receipt of the amount of consideration. • The applicant filed the Form FC-GPRs, on allotment of shares, with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank, beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India. | (i) 34,31,432 (ii) 35,08,140 | 22,180 | |
| 1.019 | Vivify Ventures Pvt Ltd | Dec/2017 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 2 days to 5 days (ii) 9 days to 2 months 19 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank | •The company is engaged in the business of Providing software support and maintenance to the clients. •The applicant had received funds towards share application money from the foreign investors. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank beyond the prescribed period of 30 days, from the date of receipt of the amount of consideration. • The applicant filed the Form FC-GPRs, on allotment of shares, with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank, beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India. | (i) 18,30,89,668 (ii) 108,08,720 | 22,430 | |
| 1.020 | Scalar Bathware Pvt. Ltd. | Dec/2017 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | 200 days | (i) delay in refund of excess share application money | • The company delayed in refund of share application money beyond the stipulated period of 180 days from the date of receipt of inward remittances | 833,672 | 686 | |
| 1.021 | Vivaan Hotels Private Ltd | Dec/2017 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 13 months and 15 days | (i) delay in submission of Form FCGPRs to the Reserve Bank | The applicant is engaged in the business of hospitality and owners, lessors, managers, licensors, lessees of hotels, holiday homes, cottages, tourist bungalows etc • The applicant filed the Form FC-GPRs, on allotment of shares, with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank, beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India. | 371,813,244 | 12,917 | |
| 1.022 | Franklin Templeton Asset Management (India) Pvt Ltd | Dec/2017 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 2 years 5 months 8 days | (i) failure to obtain specific and prior Government (FIPB) approval | The Company is mainly engaged in the business of Fund Managenment • The company is a wholly owned subsidiary of Franklin Templeton Holding Limited, Mauritius •The company made a one-time downstream investment of Rs.5,00,000/- to subscribe to Equity Shares of MF Utilities India Private Limited (MFUI) in April 2014.the Government of India, Ministry of Finance, Department of Economic Affairs, FIPB Unit, New Delhi, vide, their letter F. No. 80/2016-FIPB dated September 12, 2016, observed that the activities of MFUI fall under ‘Other Financial Services’ and directed M/s Franklin Templeton Asset Management (India) Private Limited to obtain post facto approval of FIPB for indirect foreign investment in M/s MFUI. Accordingly, the company applied for post facto approval for the downstream investment in M/s MFUI. While according the post facto approval, the FIPB, vide, its letter No. 392(95)/194(95)-Amend dated March 30, 2017, directed the company for compounding by RBI for not obtaining prior Government approval for downstream investment by M/s Franklin Templeton Asset Management India Private Limited into M/s MFUI | 500,000 | 53,000 | |
| 1.023 | CI (India) Pvt Ltd | Dec/2017 | FDI | FEMA 20/2000-RB | Delay/non filing | (i) 3 years 7 months 16 days and 3 years 8 months 4 days (ii) 5 months 10 days (iii)1 months 9 days to 4 years 4 months 21 days (iv)2 years 9 months 5 days to 3 years 9 months 10 days (v) 4 years | (i) Non obtainance of certified form FCTRS (ii) Non issue of shares beyond stipulated time (iii) delay in reporting receipt of foreign inward remittances towards subscription to equity (iv) delay in submission of Form FCGPRs to the Reserve Bank (v) delayed filing of Annual Return on Foreign Liabilities and Assets for 4 years | •The main activity is to carry on all or any of the business or activities, etc •The applicant received foreign inward remittance from M/s Certification International Ltd., United Kingdom towards equity / preference share capital and delayed in reporting the remittances to RBI. • The transfer of shares was taken on record by the company without obtaining duly acknowledged / certified form FC-TRS by the AD Bank and its late filing. •The company allotted equity shares/preference shares/convertible preference shares and delayed in filing FC-GPRs •The company allotted shares after 180 days of receipt of investment. •The company has not filed the Annual Return on Foreign Liabilities and Assets (FLA return) to the Reserve Bank of India for the Financial Years 2012-13, 2013-14, 2014-15 and 2015-16 on or before July 15 of each year. | (i) 90,000 (ii) 125,663 (iii) 97,45,567 (iv) 21,50,000 | 147,491 | |
| 1.024 | ITS India Pvt. Ltd. | Dec/2017 | FDI | FEMA 20/2000-RB | Delay/non filing | (i) 7 months 5 days to 3 years 7 months 17 days (ii) 23 days to 1 years 2 months 20 days (iii) 2 months 19 days to 8 months 21 days | (i) delay in issue of shares after inward remittance. (ii) delay in reporting receipt of foreign inward remittances towards subscription to equity (iii) delay in submission of Form FCGPRs to the Reserve Bank | The company is engaged i) To carry on the business of manufacture, repair and upgrading of high quality drilling and other equipment used in oil and gas exploration (ii) To carry on the business of providing and maintaining specialized drilling tubular, tools and equipment for the onshore/offshore oil and gas industries. •The company allotted shares against a remittance. The company allotted shares beyond the prescribed period of 180 days with prior approval of Reserve Bank. •The company had received a foreign inward remittance for issue of equity shares and reported the same beyond the prescribed period of 30 days from the date of receipt of the said amount. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India | (i) 638,31,598 (ii) 477,72,123 (iii) 22,60,24,564 | 525,523 | |
| 1.025 | Info Vision Labs India Pvt Ltd | Dec/2017 | FDI | FEMA 20/2000-RB | Delay/non filing | (i) 3 months 17 days (ii) 12 days (iii) 28 days to 5 months 24 days | (i) delay in issue of shares after inward remittance. (ii) delay in reporting receipt of foreign inward remittances towards subscription to equity (iii) delay in submission of Form FCGPRs to the Reserve Bank | • The company is engaged in software developmet and activities related to it. • The applicant company received foreign inward remittances towards investment in equity shares from non-residents. The above remittance was not reported to Reserve Bank of India within the prescribed time period of 30 days from the date of receipt of the amount of consideration. • The company allotted shares against a remittance. The company allotted shares beyond the prescribed period of 180 days with prior approval of Reserve Bank. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India | (i) 963,238 (ii) 50,39,319 (iii) 298,60,400 | 86,455 | |
| 1.026 | Ion Exchange Waterleau Ltd | Dec/2017 | FDI | FEMA 20/2000-RB | Delay/non filing | (i) 6 years 6 months 27 days to 10 years 2 months 13 days (ii) 6 years 5 months 23 days to 10 years 1 months 20 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank | •The company is engaged in various engineering and water control and sewage related activities. The applicant had received funds towards share application money from the foreign investors. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank beyond the prescribed period of 30 days, from the date of receipt of the amount of consideration. • The applicant filed the Form FC-GPRs, on allotment of shares, with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank, beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India. | (i) 250,95,822 (ii) 250,00,000 | 901,975 | |
| 1.027 | Salathai Foods & Restaurants P L | Dec/2017 | FDI | FEMA 20/2000-RB | Delay/non filing | (i) 4 months 24 days to 6 years 5 months 10 days (ii) 1 years 7 months 16 days to 1 years 10 months 10 days (iii) 1 years 7 months to 8 years 2 months 3 days | (i) delay in issue of shares after inward remittance. (ii) delay in reporting receipt of foreign inward remittances towards subscription to equity (iii) delay in submission of Form FCGPRs to the Reserve Bank | • Its main activity is to run and own the business of hotels, restaurants, fast food chains and fast food courts in India • The applicant company received foreign inward remittances towards investment in equity shares from non-residents. The above remittance was not reported to Reserve Bank of India within the prescribed time period of 30 days from the date of receipt of the amount of consideration. • The company allotted shares against a remittance. The company allotted shares beyond the prescribed period of 180 days with prior approval of Reserve Bank. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India | (i) 15,10,000 (ii) 20,20,000 (iii) 10,20,000 | 84,038 | |
| 1.028 | UL Quality Assurance Private Limited | Dec/2017 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a person Resident Outside India | 6 years 9 months and 20 days | delay in issue of shares | The company is engaged in the business of analyzing, examination, checking, reporting and testing on all kinds of textiles and other consumer products. • The company had received foreign inward remittances amounting to Rs.5,28,63,921.94 in 12 tranches from 12.12.2006 to 03.07.2007, out of which, it had issued shares of Rs. 5,00,00,000.00 and balanceRs. 28,63,921.94 remained unutilized. • Company had requested RBI twice for refund of above balance amount to the foreign investorsand RBI’s permission was also granted, however, the company was unable to refund the same. • The company again approached RBI throughits AD bank, vide letter dated 17.09.2014, seeking prior approval for allotment of shares against Rs. 28,63,921.94 i.e. the excess share application money, after the expiry of 180 days. •On October 20,2014, the company issued shares, with Reserve Bank’s approval, with a delay of 6years 9 months and 20 days,beyond the prescribed period of 180 days, | 286,392,194 | 51,480 | |
| 1.029 | ILSC India Private Limited | Dec/2017 | FDI | FEMA 20/2000-RB | Delay/non filing | (i) 1 months and 4 days to 6 years 8 months and 19 days. (ii) 12 days to 3 years and 6 months | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPRs to the Reserve Bank | The company is engaged in managing and maintaining training institutes, learning centres, coaching centres and also undertakes training programs in business and soft skills such as communication, interpersonal skills, management, marketing, sales, customer service, leadership, coaching, IT and IT enabled services. • The applicant had received funds towards issue of shares or convertible debentures from the foreign investors. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank beyond the prescribed period of 30 days, from the date of receipt of the amount of consideration. • The applicant filed the Form FC-GPRs, on allotment of shares, with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank, beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India. | (i) 183,30,33,148 (ii) 183,24,54,000 | 302,052 | |
| 1.030 | Deep Emotions Publishing Pvt. Ltd | Dec/2017 | FDI | FEMA 20/2000-RB | Delay/non filing | (i) 6 years and 11 days. (ii) 6 years and 9 months. | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPRs to the Reserve Bank | The Indian Company is engaged in the business of manufacturing and sale of textile products and allied activities. • The applicant had received funds towards issue of shares or convertible debentures from the foreign investors. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank beyond the prescribed period of 30 days, from the date of receipt of the amount of consideration. • The applicant filed the Form FC-GPRs, on allotment of shares, with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank, beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India. | (i) 287,02,34,322 (ii) 287,02,30,000 | 661,500 | |
| 1.031 | Mahendra Kumar Sanghi | Dec/2017 | FDI | FEMA 1/2000-RB | Contravention of FEMA regulations | (i) 10 months and 26 days | (i) Purchase of shares using funds remitted abroad under the LRS | • The shares of an Indian company namely M/s. Windmere Hospitality India Private Limited were held by a Mauritius company M/s. Windmere Hospitality (India) Private Limited, Mauritius. •The applicant has purchase of shares of Indian company using overseas investor from the funds remitted under LRS held in residents overseas accounts thus contravening the provisions of Section 3(b) and Section 10(6) under FEMA | 110,902,210 | 111,091 | |
| 1.032 | Manju Sanghi | Dec/2017 | FDI | FEMA 1/2000-RB | Contravention of FEMA regulations | (i) 10 months and 26 days | (i) Purchase of shares using funds remitted abroad under the LRS | • The shares of an Indian company namely M/s. Windmere Hospitality India Private Limited were held by a Mauritius company M/s. Windmere Hospitality (India) Private Limited, Mauritius. •The applicant has purchase of shares of Indian company using overseas investor from the funds remitted under LRS held in residents overseas accounts thus contravening the provisions of Section 3(b) and Section 10(6) under FEMA | 112,327,086 | 111,233 | |
| 1.033 | Ashwin M Sanghi | Dec/2017 | FDI | FEMA 1/2000-RB | Contravention of FEMA regulations | (i) 10 months and 26 days (ii) 10 months and 26 days | (i) Purchase of shares using funds remitted abroad under the LRS | • The shares of an Indian company namely M/s. Windmere Hospitality India Private Limited were held by a Mauritius company M/s. Windmere Hospitality (India) Private Limited, Mauritius. •The applicant has purchase of shares of Indian company using overseas investor from the funds remitted under LRS held in residents overseas accounts thus contravening the provisions of Section 3(b) and Section 10(6) under FEMA | 11,25,04,919 | 111,251 | |
| 1.034 | Vaibhav Sanghi | Dec/2017 | FDI | FEMA 1/2000-RB | Contravention of FEMA regulations | (i) 10 months and 26 days (ii) 10 months and 26 days | (i) Purchase of shares using funds remitted abroad under the LRS | • The shares of an Indian company namely M/s. Windmere Hospitality India Private Limited were held by a Mauritius company M/s. Windmere Hospitality (India) Private Limited, Mauritius. •The applicant has purchase of shares of Indian company using overseas investor from the funds remitted under LRS held in residents overseas accounts thus contravening the provisions of Section 3(b) and Section 10(6) under FEMA | (i) 11,11,11,442 (ii) 11,11,11,442 | 111,115 | |
| 1.035 | ITH Engineering ( India ) Pvt Ltd | Dec/2017 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 17 months (ii) 7 months (iii) 2 years 5 months and 26 days | (i) Delay in submission of form FCGPR to the Reserve Bank of India (ii) delay in reporting receipt of foreign inward remittances towards subscription to equity (iii) Issue of shares against receipt of part consideration amount | The applicant was incorporated under the Companies Act, 1956 on February 20, 2013. The applicant is engaged in the wholesale business of other machinery and equipments (hydraulic category). The applicant had received inward foreign remittances as Foreign Direct Investment (FDI) from foreign investors Frank Hohmann and Joerg Hohmann amounting to Rs. 64,03,714 out of which Rs. 78,407 was reported to RBI with a delay of 7 months. It allotted equity shares and filed form FC GPR with a delay of 17 months . It allocated shares of Rs.78,407/- for which consideration was received later on with a delay of 2 years 5 months and 26 days | (i) 48,00,000 (ii) 78,407 (iii) 78,407 | 41,294 | |
| 1.036 | Rishiroop Limited | Jan/2018 | FDI | FEMA 20/2000-RB | In terms of Regulation 2 (ii) of Notification No.FEMA.20/2000-RB dated May 03, 2000 as amended from time to time " 'Capital' means equity shares, preference shares and convertible debentures”, while Regulation 7(2) states that “Where a Scheme of Arrangement for an Indian company has been approved by a Court in India, the Indian company may issue non-convertible redeemable preference shares or debentures out of its general reserves…. subject to … the original acquisition of shares / convertible debentures (including non-convertible / optionally convertible / partially convertible preference shares issued as on and up to April 30, 2007 and optionally convertible / partially convertible debentures issued up to June 7, 2007 under Foreign Direct Investment Scheme and treated as eligible (FDI) compliant instruments under the then applicable guidelines.” | (i) Allotment of OCP to converion into RP -534 days (ii) Allotment of RP to redemption of RP -180 days | The contraventions sought to be compounded relate to Issuance of OCPS and RPS in contravention of FEMA 20, as these are not FDI compliant instruments. | A scheme of Amalgamation between Rishiroop Rubber (International) Limited (transferor) and Rishiroop Limited (Transferee) The applicant company in accordance with the terms of the scheme, the company had allotted 71,03,935 OCPS of Rs.10/- each at premium of Rs.34 to the erstwhile shareholders of M/s Rishiroop Rubber (International) Limited which included 129,568 OCPS allotted to non-resident on September 08, 2015. The OCPS were converted to Redeemable Preference Shares February 24, 2017. Issuance of OCPS and RPS is in contravention of FEMA 20, as these are not FDI compliant instruments. The primary responsibility of ensuring that the funds raised/utilized are in conformity with the FDI guidelines and the Reserve Bank regulations/directions/circulars is that of the concerned borrower. | (i) 57,01,036 (ii) 57,45,256 | 112,955 | |
| 1.037 | Indian Energy Exchange Limited | Jan/2018 | FDI | FEMA 20/2000-RB | Contravention of Regulation | 2 months to 9 months | The contravention sought to be compounded relate to nonadherence to the conditions which were stipulated for receiving foreign investments and failure to bring the shareholding in line with the FDI Policy within the time period given by Foreign Investment Promotion Board (FIPB), Ministry of Finance, Government of India in contravention of the provisions | The applicant is a power exchange registered under the Central Electricity Regulatory Commission. As per foreign investment in the power exchange sector is permissible upto 49% under the Automatic route, subject to fulfilment of certain conditions which inter-alia provided that no non-resident investor / entity, including persons acting in concert, will hold more than 5% of the equity in these companies. The applicant did not comply with the conditions above which were stipulated for receiving foreign investments as the said investor limit of 5% was breached by four non-resident investors. | 115,628,928 | 628,145 | |
| 1.038 | Diabu Diamond Tools (India) Private Limited | Jan/2018 | FDI | FEMA 20/2000-RB | Delay in Reporting | 1 November 2013 to October 2017 | Issue1 Failur to obtain prior approval of RBI for allotment of shares | The applicant company had allotted 42,126 equity shares on 1.11.2013 to Diabu Germany (parent company) in lieu of supply of raw material for Rs 89,21,042 and bank charges of Rs 5,57,389, totaling Rs 94,78,431. The allotment of 42,126 shares were entered into the books of the company without the approval of RBI | 9,478,431 | 111,610 | |
| 1.039 | M/s Watchdata Technologies (India) Private Limited | Jan/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 9 years, 2 months and 2 days | (i) delay in refund of share application money to the foreign investors, persons resident outside India, beyond 180 days of receipt of the inward remittances | •The company is engaged in the business of Manufacturing, wholesale marketing of microchip cards and other digital Security products etc. •The company had received inward remittance from the foreign investor, M/s Watchdata Technologies Pte Ltd, Singapore and allotted 1,00,000 equity shaThe excess share application money of Rs.60,000 was refunded to the investor with a delay beyond stipulated period, on June 08, 2017, with prior approval from Reserve Bank of India. The company was accorded the approval to refund the share application money of Rs.60,000.00, vide our letter No. FE.BG.FID.No.6532/21.06.714/2016-17 dated May 31, 2017, subject to compounding. | 60,000 | 58,030 | |
| 1.040 | M/s Energy Quote Private Limited | Jan/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 4 months and twenty days to 4 years 7 months and 26 days 17 days (ii) 10 months and 12 days to 1 years and 7teen days (iii) 5 years and 6 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) allotment of shares prior to receipt of share application money (iii) delay in submission of Form FCGPRs to the Reserve Bank | • The company is engaged in the business of writing, modifying, testing of computer program to meet the needs of a particular client excluding web-page designing. The applicant had received funds towards share application money from the foreign investors. • The applicant company received foreign inward remittances towards investment in equity shares from non-residents. The above remittance was not reported to Reserve Bank of India within the prescribed time period of 30 days from the date of receipt of the amount of consideration. • The company allotted shares against a remittance. The company allotted shares beyond the prescribed period of 180 days with prior approval of Reserve Bank. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India | (i) 100,76,263 (ii) 100,76,263 (iii) 100,000 | 60,470 | |
| 1.041 | M/s. Southern E-Commerce Solutions Private Limited | Jan/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 10 days to 2 months and 4 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity | • The activities undertaken by the company include business of e-commerce solutions, e-commerce platform for sale of service apartment rooms, cloud solutions, web based services and all kinds of information technology enabled services. • The applicant had received funds towards share application money from the foreign investors. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank beyond the prescribed period of 30 days, from the date of receipt of the amount of consideration. | 2,530,724 | 11,000 | |
| 1.042 | Packetvideo India Private Limited | Jan/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 4357 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity | •The applicant is engaged in the business of developing and exporting multimedia software for mobile devices. •The company has received foreign inward remittances, for issue of equity shares to foreign investor Packetvideo Corporation, USA, However the manner of receipt of inflows was in contravention of para 8 of Schedule 1 to RBI notifications FEMA 20/2000-RB dated May 03, 2000 as the inflows received were not in accordance with eligible mode of payment under Schedule-I of FEMA •The applicant applied for permission to unwind the transaction and refund the amount on September 15, 2017 with delay of 4357 days. The delay in applying for permission to unwind the transaction is in contravention of the fema guidelines. | 4,999,000 | 84,366 | |
| 1.043 | PAREXEL International Services India | Jan/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 446 to 449 days | (i) delay in submission of Form FCGPRs to the Reserve Bank | •The applicant is engaged in Clinical research activities including testing and effectiveness of medications, devices , diagnostics products. •The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India | 2,143,798,659 | 3,862,506 | |
| 1.044 | M/s Airmail Service Pvt. Ltd. | Jan/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 101 and 113 days | (i) delay in submission of Form FCTRSfrom the date of transfer of shares to the Reserve Bank | •The applicant is engaged in BPO services and data processing activities. •The delay is in contravention of Regulation 10B (2) read with paragraph 10 of Schedule I to FEMA 20/2000-RB dated May 3, 2000,in terms of which an Non-Resident or Resident shall report in form FCTRS to AD bank within 60 days from the date of receipt or payment of the amount of consideration. | 1,256,404 | 10,666 | |
| 1.045 | M/s. Kobster E-Shop Pvt Ltd | Jan/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 5 days to 6 months 8 days (ii) 18 days to 11 months 6 days | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPRs to the Reserve Bank | •The applicant is in the business of wholesale trade via e-commerce excluding activities of commission agents. • The applicant company received foreign inward remittances towards investment in equity shares from non-residents. The above remittance was not reported to Reserve Bank of India within the prescribed time period of 30 days from the date of receipt of the amount of consideration. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India . | (i) 230,01,69,101 (ii) 3,79,46,45,280 | 52,860 | |
| 1.046 | M/s. Unicorn Valves Pvt Ltd. | Jan/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 7 days to 6 years 4 months 15 days (ii) 1 days to 6 years 6 months 15 days | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR on allotment of shares to the Reserve Bank | •The applicant is engaged in business of manufacture of other pumps, compressors, taps and valves etc. • The applicant company received foreign inward remittances towards investment in equity shares from non-residents. The above remittance was not reported to Reserve Bank of India within the prescribed time period of 30 days from the date of receipt of the amount of consideration. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India . | (i) 582,36,92,182 (ii) 8,42,84,420 | 153,815 | |
| 1.047 | M/s. India Consolidated Contractors Company Pvt Ltd., | Jan/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 21 days to 5 years 5 months 19 days (ii) 1 months 3 days to 6 years 9 months 27 days (iii) 6 years 11 months 19 days to 7 years 3 months 17 days | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPRs to the Reserve Bank (iii) delay of allotment of shares | •The applicant is engaged in business and management consultancy activities and architectural and engineering . • The applicant company received foreign inward remittances towards investment in equity shares from non-residents. The above remittance was not reported to Reserve Bank of India within the prescribed time period of 30 days from the date of receipt of the amount of consideration. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India . • The company allotted shares against a remittance. The company allotted shares beyond the prescribed period of 180 days with prior approval of Reserve Bank. | (i) 103,20,22,512 (ii) 125,50,300 (iii) 44,92,870 | 137,332 | |
| 1.048 | M/s. SEI Bheem Pvt Ltd. | Jan/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 1 months 23 days to 2 months 3 days (ii) 4 months 13 days to 1 years 8 months 23 days | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPRs to the Reserve Bank | •The applicant is engaged in business of Electric power generation using solar energy. • The applicant company received foreign inward remittances towards investment in equity shares from non-residents. The above remittance was not reported to Reserve Bank of India within the prescribed time period of 30 days from the date of receipt of the amount of consideration. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India . | (i) 31,71,15,000 (ii) 80,25,93,455 | 444,745 | |
| 1.049 | M/s. Aarish Solar Power Pvt Ltd. | Jan/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 2 months 9 days (ii) 2 days to 1 years 1 months 24 days | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPRs to the Reserve Bank | •The applicant is engaged in business of Electric power generation using solar energy. • The applicant company received foreign inward remittances towards investment in equity shares from non-residents. The above remittance was not reported to Reserve Bank of India within the prescribed time period of 30 days from the date of receipt of the amount of consideration. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India . | (i) 6,845 (ii) 14,75,59,36,512 | 23,251 | |
| 1.050 | M/s. Karadi Path Education Company Pvt Ltd. | Jan/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 2 months 26 days to 10 months 20 days (ii) 1 months 8 days to 3 months 12 days (iii) 3 years 8 months 14 days | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPRs to the Reserve Bank (iii) conversion of compulsorily convertible preference shares to equity shares at a price less than the fair value | •The applicant is engaged in business of other educational services n.e.c.. • The applicant company received foreign inward remittances towards investment in equity shares from non-residents. The above remittance was not reported to Reserve Bank of India within the prescribed time period of 30 days from the date of receipt of the amount of consideration. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India . • The company converted CCPS to equity shares . However, the fair value of equity shares as on the date of allotment of CCPS more. The shortfall was brought in by way of inward and was brought with a delay .As per the notification the price of shares issued to persons resident outside India under this Schedule, shall not be less than the fair valuation of shares. | (i) 676,00,523 (ii) 795,28,62,180 (iii) 34,57,93,820 | 192,477 | |
| 1.051 | M/s. SEI L’Volta Pvt Ltd. | Jan/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 2 months 13 days (ii) 1 years 4 months 17 days | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPRs to the Reserve Bank | •The applicant is engaged in business of Electric power generation using solar energy. • The applicant company received foreign inward remittances towards investment in equity shares from non-residents. The above remittance was not reported to Reserve Bank of India within the prescribed time period of 30 days from the date of receipt of the amount of consideration. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India . | (i) 406,08,000 (ii) 406,08,000 | 103,500 | |
| 1.052 | Halcyon Finance & Capital Advisors Private Limited | Jan/2018 | ODI | FEMA 120/RB-2004 | ODI - Contravention of Provisions | (i) 16 years 4 months (ii) 1 years 11 months (iii) 6 years | (i) delay in submission of Form ODIPart I (ii) nonreporting of the step down subsidiary (iii) delay in submission of Annual Performance Reports (APRs). | • It is engaged in the business of providing management & consultancy services to organizations in various sectors such as healthcare, mining, entertainment and media. • The applicant did not report the investment by its overseas WOS in the Indian SDS within the prescribed period of 30 days thereby contravening the said FEMA Regulation which states states that an Indian party may make direct investment in a Joint Venture (JV) or Wholly Owned Subsidiary (WOS) outside India provided that direct investment is made in an overseas JV or WOS engaged in a bona fide business activity. Whereas the acquisition of the Indian entity by the overseas WOS in 2010 resulted in an ODI-FDI structure thereby leading to contravention of the said FEMA Regulation. • The form ODI were filed beyond the prescribed period. The Annual Performance Reports (APRs) for the years 2007-09 were submitted with a delay beyond the stipulated time period, thus contravening Regulation 15 (iii) of Notification No. FEMA 120/2004-RB. | (i) 302,07,22,981 (ii) 302,07,22,981 | 23,158,756 | |
| 1.053 | Hurix Systems Private Limited | Jan/2018 | ODI | FEMA 120/RB-2004 | Transfer or Issue of Security by a Person Resident Outside India | (i) for the period the date of liquidation upto the date of applying for compounding (ii) 2002-2016 (iii) the date of remittance to the date of reporting to RBI | (i) disinvestment without submission of a valuation certificate (ii) nonreporting/delayed reporting of remittances, nonreceipt of share certificates (iii) remitting funds through a nondesignated AD bank (iv) delayed reporting of Annual Performance Reports | • In October 2001, the applicant incorporated a wholly owned subsidiary (WOS) in the name Hurix Systems Inc in USA to engage in building, distributing and managing digital content across various IT platforms and to cater to the company’s US customers. The company made several remittances over the years. •One of the remittances, was effected through HSBC which was not the designated bank for the investment. The applicant could not produce the share certificates for the equity holding in the WOS, on the plea that company records of 2002 had been destroyed • The IP received a Dissolution Certificate stating the date of dissolution as 01.06.2015. No valuation certificate was produced to show the value of shares at the time of dissolution and the company wrote off its entire investment. APRs for the years 2006 to 20015 were submitted/ reported with delay, on 1.4.2015, in a bunch. an Indian party may make direct investment in a Joint Venture or Wholly Owned Subsidiary outside India provided it “submits form ODI, duly completed, to the designated branch of an authorised dealer. An Indian Party, which has acquired foreign security in terms of the Regulations to receive share certificates or any other document as an evidence of investment in the foreign entity to the satisfaction of the Reserve Bank within six months. | (i) 46,93,179 (ii) 30,13,922 (iii) 458,317 | 276,596 | |
| 1.054 | Sterling Industries | Jan/2018 | ODI | FEMA 120/RB-2004 | Transfer or Issue of Security by a Person Resident Outside India | (i) 11 months for the APR pertained to December 2012 and 2 years and 10 months for the APR pertained to December 16, 2014 (ii) 2 years and 7 months and 9 days | (i) delayed submission of Annual Performance Report (APR) for the years (ii) disinvestment in the overseas JV without fair valuation of its investment | • The applicant is engaged in manufacture of auto parts. •One of the remittances, was effected through HSBC which was not the designated bank for the investment. The applicant could not produce the share certificates for the equity holding in the WOS, on the plea that company records of 2002 had been destroyed. • The applicant defaulted in submitting the APRs to the Reserve Bank every year within 60 days from the date of expiry of the statutory period as prescribed by the respective laws of the host country for finalisation of the audited accounts of the Joint Venture / Wholly Owned Subsidiary outside India or such further period as may be allowed by Reserve Bank • TThe applicant disinvested the entire investment with full write-off without valuation certificate by a Chartered Accountant / Certified Public Accountant as the fair value of the shares based on the latest audited financial statements of the WOS. The above amount to the contravention of the Regulation 16(1)(iii) of Notification No FEMA 120-RB 2004 read with 16(1A)(ii) of Notification No FEMA 120-RB 2004 | (i) 15,68,93,942 (ii) 15,68,93,942 | 79,414 | |
| 1.055 | Tata Hitachi Construction Machinery Company Private Limited | Jan/2018 | ODI | FEMA 120/RB-2004 | Delay in Reporting | (i) 2 years and 5 months (ii) 2 years and 5 months (iii) 2009 to 2015 | Issue disinvestment of stakes in WOS, involving writeoff, by an unlisted company where investment in overseas venture exceeded USD 10 million (ii) liquidation of the WOS without the submission of APRs (iii) nonrepatriation of dues within 60 days and writing off the interest on loan upon liquidation (iv) delay in submission of APRs | The applicant is engaged in manufacture of auto parts. One of the remittances, was effected through HSBC which was not the designated bank for the investment. The applicant could not produce the share certificates for the equity holding in the WOS, on the plea that company records of 2002 had been destroyed. The applicant defaulted in submitting the APRs to the Reserve Bank every year within 60 days from the date of expiry of the statutory period as prescribed by the respective laws of the host country for finalisation of the audited accounts of the Joint Venture / Wholly Owned Subsidiary outside India or such further period as may be allowed by Reserve Bank The applicant disinvested the entire investment with full write-off without valuation certificate by a Chartered Accountant / Certified Public Accountant as the fair value of the shares based on the latest audited financial statements of the WOS. The above amount to the contravention of the Regulation 16(1)(iii) of Notification No FEMA 120-RB 2004 read with 16(1A)(ii) of Notification No FEMA 120-RB 2004 | (i) 18,189 crore (ii) 549 crore | 11,412,800 | |
| 1.056 | M/s. ECS Systems Services India Pvt Ltd | Jan/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 1 years 4 months 25 days to 1 years 7 months 3 days (ii) 2 years 1 months 17 days (iii) 6 months 15 days to 8 months 22 days | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPRs to the Reserve Bank (iii) allotment of shares prior to receipt of consideration | •The applicant is engaged in business of data processing, hosting and related activities, web portals . • The applicant company received foreign inward remittances towards investment in equity shares from non-residents. The above remittance was not reported to Reserve Bank of India within the prescribed time period of 30 days from the date of receipt of the amount of consideration. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India . • The company allotted shares against remittances. The company allotted shares beyond the prescribed period of 180 days with prior approval of Reserve Bank. | (i) 25,00,000 (ii) 24,99,999 (iii) 24,99,999 | 68,145 | |
| 1.057 | M/s. Trimble Information Technologies India Pvt Ltd | Jan/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 10 years 5 months 20 days to 11 years 2 months 13 days (ii) 10 years 5 months 20 days to 11 years 2 months 13 days (iii) 21 days | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPRs to the Reserve Bank (iii) allotment of shares prior to receipt of full consideration | •The applicant is engaged in business of writing, modifying, testing of computer program to meet the needs of a particular client excluding web-page designing. • The applicant company received foreign inward remittances towards investment in equity shares from non-residents. The above remittance was not reported to Reserve Bank of India within the prescribed time period of 30 days from the date of receipt of the amount of consideration. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India . • The company allotted shares against remittances. The company allotted shares beyond the prescribed period of 180 days with prior approval of Reserve Bank. | (i) 507,44,550 (ii) 583,50,550 (iii) 140,000 | 2,909,170 | |
| 1.058 | Zodiac Clothing Company Limited | Jan/2018 | ODI | FEMA 120/RB-2004 | Transfer or Issue of Security by a Person Resident Outside India | (i) 4 4 months to 7 years | Issue making overseas direct investment in an entity engaged in real estate business (ii) nonreporting of setting up of stepdown subsidiary within the stipulated time period (iii) nonsubmission of Annual Performance Reports (APR) | • The applicant is engaged in the business of manufacturing and dealing in neckwear, ties, collars, scarves, shawls etc. •The applicant set-up a wholly owned subsidiary (WOS) and step-down-subsidiaries (SDS). • The setting-up of the SDS were reported with a delay beyond the stipulated time period, thus contravening Regulation 13 of Notification No. FEMA 120/2004-RB. • The Annual Performance Reports (APRs) were submitted with a delay beyond the stipulated time period. • The acquisition of stake in Zodiac Properties Limited(Second level SDS) whose activity was ‘purchase of real estate’, was a non-bonafide activity and thus in contravention of Regulations 5(2) read with 6(2)(ii) of Notification No. FEMA 120/2004-RB. The SDS was unwound on 26.01.2017, thereby completing the administrative action. in terms of Regulation 6(2)(ii) of Notification No.FEMA.120/2004-RB dated July 07, 2004 as amended from time to time, Overseas Direct Investment is permitted in certain cases provided, “The direct investment is made in an overseas JV or WOS engaged in a bonafide business activity”. In terms of Regulation 13 of Notification No.FEMA.120/2004-RB dated July 07, 2004 as amended from time to time, "A JV/WOS set up by the Indian party as per the Regulations may diversify its activities/ set-up step-down subsidiaries/ alter the shareholding pattern of the overseas entity: Provided the Indian Party reports to the Reserve Bank, the details of such decisions taken by the JV/WOS within 30 days of the approval of those decisions by the competent authority concerned of such JV/WOS in terms of local laws of the host country, | 335,127,500 | 1,807,868 | |
| 1.059 | M/s. Ravindranath GE Medical Associates Pvt Ltd. | Jan/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 28 days to 1 months 23 days | (i) delay in allotment of shares to the nonresident | •The applicant is engaged in business of hospital activities. • The company delayed in allotting shares against remittances. The company allotted shares beyond the prescribed period of 180 days with prior approval of Reserve Bank. | 303,372,000 | 940,116 | |
| 1.060 | CTC (India) Private Ltd | Jan/2018 | ODI | FEMA 120/RB-2004 | Transfer or Issue of Security by a Person Resident Outside India | (i) 3 months | Issue Delay in submisson of Form ODI | • The applicant is engaged in the business of manufacture of printed circuit board drills, routers and other allied tools required for electronic, computer, aircraft, aerospace industries and other allied industries. • The applicant had made an investment of USD 100,000 o in an overseas Joint Venture (JV), M/s. Tactilis Pte Ltd, Singapore. However, Form ODI was submitted to the AD with delay, thereby contravening Regulation 6(2)(vi) of Notification No FEMA 120-RB 2004. | 6,526,000 | 11,750 | |
| 1.061 | M/s. Hsenid Business Solutions (India) Pvt Ltd | Jan/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 1 days to 11 months 26 days (ii) days to 1 years 8 months 19 days (iii) 2 months 2 days to 5 months 21 days | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPRs to the Reserve Bank (iii) allotment of shares prior to receipt of consideration | •The applicant is engaged in business of providing software support and maintenance to the clients . • The applicant company received foreign inward remittances towards investment in equity shares from non-residents. The above remittance was not reported to Reserve Bank of India within the prescribed time period of 30 days from the date of receipt of the amount of consideration. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India . • The company delayed in allotting shares against remittances. The company allotted shares beyond the prescribed period of 180 days with prior approval of Reserve Bank. | (i) 278,38,99,275 (ii) 530,22,510 (iii) 25,74,000 | 140,288 | |
| 1.062 | M/s. Nutra Specialities Pvt Ltd. | Jan/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 3 months 29 days to 1 years 10 months 3 days (ii) 1 days to 5 months | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR on allotment of shares to the Reserve Bank | •The applicant is engaged in business of manufacture of medicinal substances used in the manufacture of pharmaceuticals. • The applicant company received foreign inward remittances towards investment in equity shares from non-residents. The above remittance was not reported to Reserve Bank of India within the prescribed time period of 30 days from the date of receipt of the amount of consideration. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India . | (i) 321,25,198 (ii) 321,23,580 | 164,015 | |
| 1.063 | M/s. Airis Pharma Private Limited | Jan/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 1 days to 9 months 10 days (ii) 11 days to 7 months 24 days (iii) years 5 months 21 days to 3 years 4 months 14 days | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPRs to the Reserve Bank (iii) failure to obtain specific and prior approval of Government of India, Department of Industrial Policy and Promotion for issue of shares to a person resident outside India | •The applicant is engaged in the business of development and formulations of Generic drug products including its research, development and manufacture. • The applicant company received foreign inward remittances towards investment in equity shares from non-residents. The above remittance was not reported to Reserve Bank of India within the prescribed time period of 30 days from the date of receipt of the amount of consideration. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India . • The company allotted shares to the non-resident investors without obtaining specific Government approval. The applicant received foreign investments in brownfield pharmaceutical sector and allotted shares to the non-resident investors without obtaining prior approval of Government of India when foreign investment in brownfield pharmaceutical sector was under 100% Government route. | (i) 664,41,509 (ii) 401,18,000 (iii) 765,02,397 | 582,122 | |
| 1.064 | M/s. Impacts Renewable Solutions (India) Pvt Ltd | Jan/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 10 days to 8 months 14 days (ii) 16 days to 9 months 29 days | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR on allotment of shares to the Reserve Bank | •The applicant is engaged in the business of other non-specialised wholesale trade n.e.c. • The applicant company received foreign inward remittances towards investment in equity shares from non-residents. The above remittance was not reported to Reserve Bank of India within the prescribed time period of 30 days from the date of receipt of the amount of consideration. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India . | (i) 207,500 (ii) 102,500 | 22,490 | |
| 1.065 | M/s. IVIS International Private Limited | Jan/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 3 days to 4 months 13 days (ii) 21 days to 6 months 24 days | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR on allotment of shares to the Reserve Bank | •The applicant is engaged in the business of Security systems service activities. • The applicant had received foreign inward remittances from various foreign investors towards advance for subscription to equity shares. The above remittance was not reported to Reserve Bank of India within the prescribed time period of 30 days from the date of receipt of the amount of consideration. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India . | (i) 207,03,82,980 (ii) 639,27,320 | 45,065 | |
| 1.066 | M/s. Sanvi Properties India Pvt Ltd | Jan/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 8 months 30 days to 9 months 6 days (ii) 1 years 4 months 2 days | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPR on allotment of shares to the Reserve Bank | •The applicant is engaged in the business of Construction of buildings carried out on own-account basis or on a fee or Contract basis. • The applicant had received foreign inward remittances from various foreign investors towards advance for subscription to equity shares. The above remittance was not reported to Reserve Bank of India within the prescribed time period of 30 days from the date of receipt of the amount of consideration. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India . | (i) 245,48,300 (ii) 245,48,290 | 134,310 | |
| 1.067 | M/s. Babji Realtors Private Limited | Jan/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 12 days to 28 days (ii) 1 years 4 months 2 days (iii) 5 months 11 days | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPR on allotment of shares to the Reserve Bank (iii) Neither the shares were issued nor amount refunded to the person resident outside India | •The applicant is engaged in the business of Construction of buildings carried out on own-account basis or on a fee or Contract basis. • The applicant had received foreign inward remittances from a single foreign investor towards advance for subscription to equity shares. The above remittance was not reported to Reserve Bank of India within the prescribed time period of 30 days from the date of receipt of the amount of consideration. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India . • The applicant reported delay in refund of unallotted share application money. | (i) 22,29,50,000 (ii) 9,55,50,000 (iii) 735,00,000 | 423,750 | |
| 1.068 | M/s. Trimurti Plant Sciences Private Limited | Jan/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 3 days to 4 days | (i) delay in submission of Form FCGPR on allotment of shares to the Reserve Bank | •The applicant is engaged in the business of Construction of buildings carried out on own-account basis or on a fee or Contract basis. • The applicant had received foreign inward remittances from various investor towards advance for subscription to equity shares. The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India . | 77,131,900.00 | 18,000 | |
| 1.069 | M/s. Report Garden Technologies Private Limited | Jan/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (ii) 1 years 11 months 16 days (ii) 1 years 9 months 13 days | (i) delay in submission of Form FCGPR on allotment of shares to the Reserve Bank (ii) delay in receipt of consideration for allotment of shares towards subscription to Memorandum of Association | • The company is engaged in the business of providing software support and maintenance to the clients.. • The applicant had received foreign inward remittances from various investor towards advance for subscription to equity shares. The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India . • The applicant had delayed in receipt of consideration for allotment of shares towards subscription to Memorandum of Association beyond the stipulated period from the date of allotment | (i) 99000 (ii) 99000 | 42,347 | |
| 1.070 | M/s. Stewken Traveltek India Private Ltd | Jan/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 6 months 17 days to 9 months 17 days (ii) 1 years 11 months 25 days (iii) 1 years 2 months 6 days to 1 years 4 months 20 days | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPRs to the Reserve Bank (iii) delay in receipt of consideration for allotment of shares towards subscription to Memorandum of Association | •The company is engaged in the business of providing information technology support services, more specifically related to travel and tour. • The applicant company received foreign inward remittances towards investment in equity shares from non-residents. The above remittance was not reported to Reserve Bank of India within the prescribed time period of 30 days from the date of receipt of the amount of consideration. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India . • The company delayed in allotting shares to non resident investors against remittances. The company allotted shares beyond the prescribed period of 180 days with prior approval of Reserve Bank. | (i) 100618 (ii) 100000 (iii) 100000 | 55,762 | |
| 1.071 | M/s. Pervacio India Private Limited | Jan/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 1 months 4 days to 7 years 4 months 17 days (ii) 6 years 11 months 2 days to 7 years 1 months 20 days (iii) 1 years 2 months 6 days to 1 years 4 months 20 days | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPRs to the Reserve Bank (iii) neither the equity instruments were issued nor amount refunded to the foreign investor, a person resident outside India | • The company is engaged in the business of computer software programming. • The applicant company received foreign inward remittances towards investment in equity shares from non-residents. The above remittance was not reported to Reserve Bank of India within the prescribed time period of 30 days from the date of receipt of the amount of consideration. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India . • The company has delayed in refund of excess share application money beyond the stipulated period of 180 days in respect of remittances. | (i) 2078384 (ii) 1000000 (iii) 1078384 | 114,642 | |
| 1.072 | M/s AMR Carpets Pvt. Ltd. | Jan/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 1255 days (ii) 1352 days | (i) delay in submission of Form FCGPRs to the Reserve Bank (ii) delay in refund of share application money beyond 180 days | • The applicant company received foreign inward remittances towards investment in equity shares from non-residents. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India . • The company has delayed in refund of excess share application money beyond the stipulated period of 180 days in respect of remittances. | (i) 5000000 (ii) 80376 | 67,882 | |
| 1.073 | M/s Icube Analytics And Data Services Private Limited | Jan/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 1 years 7 months 16 days | (i) the transfer of shares by resident to nonresident with delay in obtaining certified form FCTRS | • The company is engagedIts main activity is 1) to carry on the business of providing analytical servicesadvance technology and related areas. • The delay is in contravention ofRegulation 4 of Notification No. FEMA 20/ 2000-RB read with A.P. (DIR Series) Circular No. 63 dated April 22, 2009, form FC-TRS should be submitted to the AD Category – I bank, within 60 days from the date of receipt or payment of the amount of consideration. | 189,470 | 11,670 | |
| 1.074 | Tejpal Mehta | Jan/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 1 years 7 months 16 days | (i) the transfer of shares by resident to nonresident with delay in obtaining certified form FCTRS | • The delay is in contravention ofRegulation 4 of Notification No. FEMA 20/ 2000-RB read with A.P. (DIR Series) Circular No. 63 dated April 22, 2009, form FC-TRS should be submitted to the AD Category – I bank, within 60 days from the date of receipt or payment of the amount of consideration. | 189,470 | 11,670 | |
| 1.075 | Emirates Lube India Private Limited | Jan/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 18 days to 9 years 6 months 17 days (ii) 2 months 15 days to 9 years 6 months 17 days (iii) 1 months 19 days to 11 months 14 days | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPRs to the Reserve Bank (iii) neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India within 180 days of the receipt of the inward remittance | •The company is engaged in the business of Lubricants. • The applicant company received foreign inward remittances towards investment in equity shares from non-residents. The above remittance was not reported to Reserve Bank of India within the prescribed time period of 30 days from the date of receipt of the amount of consideration. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India . • The company delayed in allotting shares to non resident investors against remittances. The company allotted shares beyond the prescribed period of 180 days with prior approval of Reserve Bank. | (i) 446,44,351 (ii) 253,42,250 (iii) 117,00,000 | 2,535 | |
| 1.076 | M/s Sheltrex Karjat Private Limited | Jan/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 1 months 4 days to 5 months 18 days (ii) 7 days to 6 months 11 days | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPR on allotment of shares to the Reserve Bank | •The applicant is engaged in the business of Hotels & Resorts. • The applicant had received foreign inward remittances from various foreign investors towards advance for subscription to equity shares. The above remittance was not reported to Reserve Bank of India within the prescribed time period of 30 days from the date of receipt of the amount of consideration. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India . | (i) 895,98,000 (ii) 35,15,46,000 | 128,000 | |
| 1.077 | Apollo Logisolutions Limited | Jan/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 9 days to 4 months and 8 days (ii) 1 months and 19 days to 9 months | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPR on allotment of shares to the Reserve Bank | • The company is engaged in the business of developing, managing, purchasing warehouses, cold storages, container freight stations, container depots and transportation facilities. • The applicant had received foreign inward remittances from various foreign investors towards advance for subscription to equity shares. The above remittance was not reported to Reserve Bank of India within the prescribed time period of 30 days from the date of receipt of the amount of consideration. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India . | (i) 19,48,10,78,380 (ii) 60,03,68,563 | 313,000 | |
| 1.078 | Argon Hotels Private Limited | Jan/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 2 days to 1 months and 13 days (ii) 16 days to 2 months and 14 days | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPR on allotment of shares to the Reserve Bank | • The company is engaged in the business of running hotels, motels, camps, guest houses, restaurants, resorts, health clubs in India or abroad. • The applicant had received foreign inward remittances from various foreign investors towards advance for subscription to equity shares. The above remittance was not reported to Reserve Bank of India within the prescribed time period of 30 days from the date of receipt of the amount of consideration. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India . | (i) 33,19,85,134 (ii) 104,21,67,645 | 134,250 | |
| 1.079 | Ardom Towergen Private Limited | Jan/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 17 days to 3 months and 8 days (ii) 2 months and 13 days to 1 years 9 months and 17 days | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPR on allotment of shares to the Reserve Bank | • The company is engaged in the business of operation and maintenance activities at various mobile tower sites of its customers and develop hybrid solar solutions, solar plants. • The applicant had received foreign inward remittances from various foreign investors towards advance for subscription to equity shares. The above remittance was not reported to Reserve Bank of India within the prescribed time period of 30 days from the date of receipt of the amount of consideration. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India . | (i) 12,47,51,46,150 (ii) 74,56,07,31,272 | 485,500 | |
| 1.080 | Integral BioSciences Private Limited | Jan/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 8 months and 19 days (ii) 1 years 5 months and 8 days (iii) 1 years 7 months and 18 days | (i) delay in submission of Form FCGPRs to the Reserve Bank (ii) delay in issue of shares (iii) delay in refund of excess share application money beyond the period of 180 days | • The company is engaged in the business of contract research providing clinical research and drug development, clinical trial development, clinical data development, statistical analysis, medical writing, marketing and contribution. • The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India. •There was a delay in allotment of shares by contravention of non obtention of RBI approval for allotment of shares • The company has delayed in refund of excess share application money beyond the stipulated period of 180 days in respect of remittances. | (i) 375,000 (ii) 375,000 (iii) 125,516 | 103,160 | |
| 1.081 | Mandrem Hotels Private Limited | Jan/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 1 years 3 months | (i) delay in reporting allotment of shares after receipt of the funds from the overseas investor | • The applicant is engaged in the business of hotels, motels, restaurants, coffee shops, packed foods and tourism services. • MHPL reported the allotment of shares in Form FC-GPR beyond the prescribed period of 30 days thereby contravening the said FEMA provision. RBI vide letter FE.PNJ.359/02.01.966/2016-17 dated September 12, 2016 advised the applicant of the above contravention and to opt for compounding within 45 days from the date of the letter. As the company did not opt for compounding of the contravention, RBI vide letter FE.PNJ.180/02.01.003/2017-18 dated October 06, 2017 referred the matter to Directorate of Enforcement (DoE). • Further, RBI vide letter FE.CO.CEFA./4492/15.20.67/2017-18 dated November 15, 2017, requested DoE to kindly confirm whether the contravention sought to be compounded by MHPL was subject of DoE investigation and whether it had any objection to compounding by RBI. DoE vide letter F No.RBI/SDE/WR/B-176/2017/2945 dated December 15, 2017 replied that there was no investigation being carried out against MHPL | 303,250,000 | 135,000 | |
| 1.082 | Gaurav Bamania | Jan/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 2 years 4 months | (i) payment of consideration towards investment in Indian company by an NRI through a resident account | • The applicant an NRI acquired 3,790 shares of an Indian company Edunetwork Pvt Ltd., and paid the consideration amount of Rs.56,850. The applicant paid the consideration amount through his resident account and not by way of inward remittance through normal banking channel from abroad or out of funds held in NRE/FCNR/NRO account maintained with a bank in India. Payment of consideration towards investment in an Indian company by an NRI through resident account is a contravention of the provisions of Para 8(a) of Schedule 3 of FEMA 5 and Para 3 of Schedule 4 of FEMA 20. | 56,850 | 26,530 | |
| 1.083 | Shri S. Ramakrishnan | Jan/2018 | FDI | FEMA 20/2000-RB | Receipt of sale consideration through channels other than a banking channel | 2 years | Receipt of sale consideration through channels other than banking channels | The applicant is a Director in the company M/s M.S.R. Garments Private Limited and is engaged in the business of manufacturing men’s custom clothing. Mr Mahesh Ramakrishnan and Mr Ramakrishnan Subramanyam, both Indian residents are the two directors of the company. In 2015-16, Mr Mahesh Ramakrishnan and the applicant, Mr. Ramakrishnan Subramanyam, entered into an understanding with Mr Ian Meirs and Mr James Sleater, acting collectively for M/s Cad and the Dandy Limited, a company incorporated in United Kingdom for purchase of 66.66% paid up equity capital of the company at an aggregate price of Rs 1,18,72,800. The sale consideration of Rs 60,39,563 was received by Ramakrishnan Subramanyam on December 16, 2015 in his bank account with ICICI Bank. However, the sale consideration was received through a third party intermediary, vis. Transfer wise | 6,039,563 | 83,300 | |
| 1.084 | Shri Mahesh Ramakrishnan | Jan/2018 | FDI | FEMA 20/2000-RB | Receipt of sale consideration through channels other than a banking channel | 2 years | Receipt of sale consideration through channels other than banking channels | The applicant is a Director in the company M/s M.S.R. Garments Private Limited and is engaged in the business of manufacturing men’s custom clothing. Mr Mahesh Ramakrishnan and Mr Ramakrishnan Subramanyam, both Indian residents are the two directors of the company. In 2015-16, the applicant and Mr. Ramakrishnan Subramanyam, entered into an understanding with Mr Ian Meirs and Mr James Sleater, acting collectively for M/s Cad and the Dandy Limited, a company incorporated in United Kingdom for purchase of 66.66% paid up equity capital of the company at an aggregate price of Rs 1,18,72,800. The sale consideration of Rs 60,40,904 was received by Mahesh Ramakrishnan on December 16, 2015 in his bank account with HDFC Bank. However, the sale consideration was received through a third party intermediary, vis. Transfer wise. | 11,872,800 | 83,300 | |
| 1.085 | Enaltec Labs Private Limited | Feb/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3 years 9 months (ii) 2 months | (i) transfer of shares between two Non – residents, of a company engaged in an activity that falls in approval route sector, without prior requisite approvals as advised by FIPB (ii) delay in filing of form FCGPR | The applicant is engaged in the business of research and development, manufacturing, refining, importing, exporting, trading, packing and developing of technologies for all types of pharmaceutical ingredients and intermediaries, medicines and medical preparations, medical drugs, bulk drugs, formulation laboratory raw materials and bio-chemicals etc. The applicant received foreign inwards remittance, from Medtech Ltd., UAE for the issuance of Compulsorily Convertible Preference Shares (CCPS), the applicant allotted 1,51,666 CCPS at a premium to Medtech. As per the amendments to FEMA 20, dated December 9, 2011, government approval was required for any foreign investment in brownfield pharmaceutical sector.Further the abovementioned CCPS were transferred by M/s Medtech Limited (NR) to M/s Scitech Limited (NR) on . The applicant has been granted the post-facto approval for the above transfer by FIPB. The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India. | (i) 227,49,917 (ii) 150,00,000 | 216,208 | |
| 1.086 | Edunetwork Pvt Ltd | Feb/2018 | FDI | FEMA 20/2000-RB | Contravention of Regulation | (i) 2 years 4 months | The contravention sought to be compounded are receipt of consideration towards investment by an Indian company from an NRI through a resident account. | The applicant received the consideration from Shri Gaurav Bamania an NRI, for acquisition of its 3,790 shares, through the NRI’s resident account. Receipt of consideration amount towards investment in an Indian company by an NRI through a resident account and not by way of inward remittance through normal banking channel from abroad or out of funds held in NRE/FCNR/NRO account maintained with a bank in India, is a contravention of the provisions of Para 3 of Schedule 4 of FEMA 20, and of Regulation 4 of FEMA 20 in terms of which save as otherwise provided in the Act or Rules or Regulations made thereunder, an Indian entity shall not issue any security to a person resident outside India. | 56,850 | 26,530 | |
| 1.087 | Buimerc Core Investments Private Limited | Feb/2018 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 4 years 5 months (ii) 6 and a half years (iii) 6 years | (i) delay in reporting receipt of funds for issue of shares (ii) delay in filing of form FCGPR (iii) receiving foreign investment with a purpose of investing in the capital of other companies, without prior Government/FIPB approval | The applicant's main objective of undertaking the business as a Core Investment Company as per the guidelines issued by Reserve Bank of India from time to time.The applicant received foreign investment in 2009, with a view to function as an NBFC. Due to financial reasons, the minimum capitalization norms could not be met and the promoters decided not to pursue any business activity. In 2013, the applicant decided to change its name and the activity of the company to that of a core investment company. Subsequently, vide letter dated 05.03.2015, the applicant received a post-facto approval from FIPB, for the original investment received and for operating as a core investment company, subject to compounding by RBI. The company recevied from a non-resident promoter, Mr. Siddharth Balachandran in 2009, for investing in the capital of other companies, without the prior approval of Government/FIPB, was in contravention . The applicant company received foreign inward remittances towards investment in equity shares from non-resident. The above remittance was not reported to Reserve Bank of India within the prescribed time period of 30 days from the date of receipt of the amount of consideration. The applicant reported the allotment of shares to Reserve Bank in Form FCGPR beyond 30 days from the date of issue of shares to a person resident outside India . | (i) 190,00,000 (ii) 190,00,000 (iii) 190,00,000 | 758,333 | |
| 1.088 | Advent Business Credit Development Company Private Limited | Feb/2018 | FDI | FEMA 20/2000-RB & FEMA 3/2000-RB | Delay in Reporting | (i) FY 2000-01 and FY 2001-02 (ii) 13 years (iii) 15 years (iv) 16 years 7 months Iue 5 5 years 9 months to 6 years 5 months | (i) undertaking wholesale trading activity at a time when the same was not permitted under the automatic route for foreign investment and issuance of equity shares to its parent company by converting overseas loan into equity shares without taking prior Government approval (ii) delay in reporting with respect to receipt of the funds (iii) delay in reporting allotment of shares after receipt of the funds. (iv) recording in its books the transfer of equity shares from resident individual to nonresident without Government approval (v) availing overseas loan without requisite prior approval | The applicant is in the business of setting-up and operating the Industrial Parks in India. The applicant had undertaken wholesale trading activity of electrical welding products for an interim period in the FY 2000-01 and FY 2001-02 without Government approval which was in contravention of paragraph 3 of schedule 1 to FEMA 20/2000-RB, as then applicable, read with then prevailing FDI policy. ABCD imported materials from overseas group companies and sales were made to manufacturing industrial units in India. The activity was subsequently placed under the automatic route with effect from February 10, 2006 vide Press Note 4 of 2006 issued by Department of Industrial Policy & Promotion, Ministry of Commerce & Industry, Government of India. ABCD received an overseas loan of Rs.14,21,36,697/- from its parent company, Uni-cash, out of which Rs.10,54,67,107/- was received under FERA regime i.e. till June 01, 2000 and Rs.3,66,69,590/- was received under FEMA regime (FY 2000-01 and FY 2001-02). The applicant has filed a separate compounding application for obtaining loan from overseas parent without prior RBI approval in terms of Regulation 3 of FEMA 3 which has been dealt with separately | (i) NA (ii) 99,89,000 (iii) 99,39,000 (iv) 5,000 (v) 10 crore | 914,833 | |
| 1.089 | Trigyn Technologies Limited | Feb/2018 | ODI | FEMA 120/RB-2004 | Transfer or Issue of Security by a Person Resident Outside India | (i) 3 months | (i) Delay in submisson of APR (ii) disinvesting with writeoff without the prior approval of RBI | • The applicant is engaged in the business of designing, developing, selling, installing and maintaining all kinds of computer software and hardware on home, personal, micro, mini and mainframe computer systems for the domestic and software export market. • The applicant acquired Applisoft INC., USA, a company incorporated in USA on 01.01.2001, by way of purchase of shares from the existing shareholders. For this purpose, $ 7,480,000 and $ 1,520,000 were remitted on 01.01.2001 and 02.01.2001 respectively. The share certificates were received on 10.01.2001. On 08.02.2010, the applicant disinvested its entire stake in the WOS (Applisoft), with write-off of USD 9 million without the prior approval of the Reserve Bank of India. This was in contravention of Regulation 16(3) of Notification No. FEMA.120/2000-RB. The disinvestment was taken on record on 12.10.2017. • Further, the Annual Performance Reports (APRs) for the years 2002-10 were submitted with a delay beyond the stipulated time period, thus contravening Regulation 15 (iii) of Notification No. FEMA 120/2004-RB. | 421,629,079 | 3,302,218 | |
| 1.090 | Varun Sunil Kapur | Feb/2018 | ODI | FEMA 120/RB-2004 | 1.) Investment outside India without prior approval of Reserve Bank of India. 2.) Non- reporting of remitted amount in the prescribed Form ODI 3.) Delayed submission of APR 4.) Delay in repatriation of sale of shares | (i),2,3,4 5 years | (i) Investment outside India without prior approval of Reserve Bank of India. (ii) Non reporting of remitted amount in the prescribed Form ODI (iii) Delayed submission of APR (iv) Delay in repatriation of sale of shares | The applicant “Varun Sunil Kapur”, a resident individual had undertaken ODI of USD 10,000 towards equity (of 50% shares) of WOS in Singapore incorporated in the name of “Kapoc Foods Pte Limited” through HDFC bank on July 23, 2013 which is not in line with Regulation 5(1) of the Notification No. FEMA120/RB-2004. The resident individual had submitted the Form ODI Part I to regularise the ODI transaction on August 10, 2016. The applicant was delayed in submission of APR for the years 2015 and 2016. Further, the resident individual had disinvested the shares of WOS for USD 10,391 (INR 6,47,633/-) on May 6, 2015 but the sale proceeds for USD 250 (INR 16,737/-) was repatriated on February 10, 2017 which was not repatriated within the stipulated time | 613,837 | 115,092 | |
| 1.091 | Karan Kapur | Feb/2018 | ODI | FEMA 120/RB-2004 | 1.) Investment outside India without prior approval of Reserve Bank of India. 2.) Non- reporting of remitted amount in the prescribed Form ODI 3.) Delayed submission of APR 4.) Delay in repatriation of sale of shares | (i),2,3,4 5 years | (i) Investment outside India without prior approval of Reserve Bank of India. (ii) Non reporting of remitted amount in the prescribed Form ODI (iii) Delayed submission of APR (iv) Delay in repatriation of sale of shares | The applicant “Karan Kapur”, a resident individual had undertaken ODI of USD 10,000 towards equity (of 50% shares) of WOS in Singapore incorporated in the name of “Kapoc Foods Pte Limited” through HDFC bank on July 23, 2013 which is not in line with Regulation 5(1) of the Notification No. FEMA120/RB-2004. In view of amended Notification No. FEMA. 263/ RB- 2013 dated March 5, 2013 notified on August 5, 2013, the resident individual should have taken initiative to submit/ report the Form ODI Part I through designated authorised dealer after the date of notified of the Notification as the resident individual making ODI have the obligation to adhere to certain reporting requirements. Further, the resident individual had disinvested the shares of WOS for USD 10,391 (INR 6,47,633/-) on May 6, 2015 but the sale proceeds for USD 250 (INR 16,737/-) was repatriated on February 10, 2017 which was not repatriated within the stipulated time | 621,037 | 114,092 | |
| 1.092 | Abicor Binzel Production (India) Private Limited | Feb/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident Outside India | (i) 16 years (ii) 8 years Iue 3 6 and a half years | (i) Transfer of shares without prior approval of reserve bank of India (ii) delay in reporting inward remittance, beyond a period of 30 days, in contravention of Paragraph 9(1)(A) of Schedule I of Notification No. FEMA 20/2000RB (iii) delay in filing Form FCGPR, beyond a period of 30 days, in contravention of Paragraph 9(1)(B) of Schedule I of Notification No. FEMA 20/2000RB | The applicant was incorporated as Abicor Binzel Production (India) Private Limited, on May 6, 1999. The applicant was set-up with a subscribed equity share capital of Rs. 20,000/- (10 equity shares of Rs. 1000/-each subscribed by Shri Anshul Majumdar and Shri Shamit Majumdar, both resident Indian shareholders). In addition to this, Shri Shamit Majumdar held 16 equity shares of Rs. 1000/- each, which were issued on August 31, 1999. 21 equity shares held by Shri Shamit Majumdar (resident) and 10 equity sahers held by Shri Anshul Majumdar (resident), transferred to Alexander Binzel (Non-resident) on 31.08.1999. 5 equity shares held by Shri Shamit Majumdar (resident) transferred to Alexander Binzel (Non-resident) on 10.10.2000 Hence it was contravention of Regulation 4 read with 10(A)(b)(ii) of Notification No.FEMA.20/2000, Para 9(1)(A) and Para 9(1)(B) of schedule 1. | (i) 5,000 (ii) 198,43,537 (iii) 198,44,000 | 799,250 | |
| 1.093 | M/s Benson Hotels Pvt Ltd | Feb/2018 | FDI | FEMA 20/2000-RB | Issue of securities outside India | (i) 26 days (ii) 5 days (iii) 11 years 4 months 21 days to 11 years 6 months | (i) delay in reporting of receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to persons resident outside India (iii) delay in refund of shares application money | The applicant is a company registered as a private limited company, incorporated on December 3, 2004. The company issued equity shares to the persons resident outside India. It received amount of Rs. 56,76,400/- as share application money and reported RBI to the effect making delay of 5 days. The applicant allotted equity shares and filed FC-GPRs making delay of 26 days. It refunded excess application money received making a delay of 11 years 4 months 21 days to 11 years 6 months | (i) 15,96,400 (ii) 14,00,000 (iii) 36,76,400 | 77,973 | |
| 1.094 | M/s Franstek Belts Pvt Ltd | Feb/2018 | FDI | FEMA 20/2000-RB | Issue of securities outside India | (i) 04 days to 11 months 02 days (ii) 01 months 07 days to 01 years 02 months 1 days (iii) 3 months | (i) delay in reporting of receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to persons resident outside India (iii) delay in refund of shares application money | The applicant is a company registered as a private limited company, incorporated on July 07, 2013 under the Companies Act, 1956 The applicant received foreign inward remittances towards issue of equity shares making delay that ranges from 04 days to 11 months 02 days. The applicant allotted equity shares and filed FC-GPRs making delay that ranges from 01 months 07 days to 01 year 02 months 1 day. The company has refunded the excess share application money with delay of 3 months | (i) 180,51,145 (ii) 250,00,000 (iii) 50,000 | 50,990 | |
| 1.095 | M/s Esmes Pantry Pvt Ltd | Feb/2018 | FDI | FEMA 20/2000-RB | Issue of securities outside India | (i) 10 years and 4 months 21 days | (i) delay in refund of shares application money | The applicant is a company registered as a private limited company, incorporated on May 27, 2006 under the Companies Act, 1956. The company has refunded the excess share application money with delay of 10 years and 4 months 21 days which is in the contravention of paragraph 8 of Schedule I to Notification No. FEMA 20/2000 | 277,500 | 32,081 | |
| 1.096 | UE Lifesciences (India) Private Limited | Feb/2018 | FDI | FEMA 20/2000-RB | Issue of securities outside India | (i) 7 months 13 days to 10 months 29 days (ii) 9 months 26 days to 1 years 1 months 26 days | (i) delay in reporting of receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to persons resident outside India | The applicant company was incorporated on September 28, 2015 under the Companies Act, 2013. The applicant received foreign inward remittances from UE Lifesciences INC, USA towards equity / preference share capital and reported to RBI with delay ranging from 7 months 13 days to 10 months 29 days. The company allotted equity shares/preference shares/convertible preference shares and filed FC-GPR with a delay ranging from 9 months 26 days to 1 year 1 month 26 days | (i) 24999990 (ii) 24999990 | 101,780 | |
| 1.097 | Bericap India Private Limited | Feb/2018 | FDI | FEMA 20/2000-RB | Issue of securities outside India | (i) 4 months 23 days to 4 years (ii) 1 months 16 days to 3 years 8 months 14 days (iii) 9 days to 8 months 12 days | (i) delay in reporting of receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to persons resident outside India (iii) Delay in allotment of shares | The applicant received foreign inward remittance from Bericap Holding GMBH, Germany towards equity / preference share capital and reported the same to the Reserve Bank with a delay ranging from 4 months 23 days to 4 years which should have been reported within 30 days of remitance as per para 9(1)(A) of Schedule 1 to Notification No. FEMA 20/2000 Also, The company allotted equity shares/preference shares/convertible preference shares and filed FC-GPRs with a delay ranging from 1 month 16 days to 3 years 8 months 14 days which should have been reported within a period of 30 days of issue of shares as per para 9(1)(A) of Schedule 1 to Notification No. FEMA 20/2000. Company has alloted equity shares with a delay ranging from 9 days to 8 months 12 days which should have been allotted within a period of 180 days from the date of remittance received as per paragraph 8 of Schedule 1 to Notification No. FEMA 20/2000 | (i) 14,81,83,600 (ii) 20,87,49,090 (iii) 644,98,000 | 1,514,043 | |
| 1.098 | ATC Telecom Infrastructure Private Limited | Feb/2018 | FDI | FEMA 20/2000-RB | Issue of securities outside India | (i) 5 years 10 months 24 days (ii) 4 months 9 days to 5 years 09 months 26 days | (i) delay in reporting of receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to persons resident outside India | The applicant company was incorporated on March 22, 2004 under the Companies Act, 1956. The applicant received foreign inward remittance from Bericap Holding GMBH, Germany towards equity / preference share capital and reported the same to the Reserve Bank with a delay of 5 years 10 months 24 days which is not in line with Para 9(1)(A) of schedule 1 of Notification No. FEMA 20/2000 The company allotted equity shares/preference shares/convertible preference shares and filed FC-GPR with a delay ranging from 4 months 9 days to 5 years 09 months 26 days Notification No. FEMA 20/2000 | (i) 15,00,00,131 (ii) 81,65,69,821 | 1,237,000 | |
| 1.099 | M/s Wockhardt Limited | Feb/2018 | FDI | FEMA 20/2000-RB | Issue of securities under automatic route | (i) 6 months 22 days to 4 years 6 months 25 days | (i) Delay in taking approval of FIPB | The applicant company was incorporated on July 8, 1999 under the Companies Act, 1956. The Company had issued shares (under Employee Stock Option Scheme, 2011) under the automatic route. the company approached Foreign Investment Promotion Board (FIPB) on February 18, 2016 for the post facto-approval for issue of shares under ESOP for certain shares and the company approached Department of Industrial Policy & Promotion on July 14, 2017 for certain shares with a delay ranging from 6 months 22 days to 4 years 6 months 25 days. Thus the company has contravened Para 3 of schedule 1 to notification No. FEMA 20/2000 | 13,190,000 | 135,948 | |
| 1.100 | Magicrot Industrial Services Private Limited | Feb/2018 | FDI | FEMA 20/2000-RB | Issue of securities outside India | (i) 5 months 15 days to 1 years 2 months 26 days (ii) 3 years 6 months 24 days to 4 years 3 months 25 days | (i) delay in reporting of receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to persons resident outside India | The applicant company was incorporated on August 2, 2011 under the Companies Act, 1956 The applicant received foreign inward remittances from Silkstone Enterprises Limited, Cyprus towards equity / preference share capital and reported the same to the Reserve Bank of India with a delay ranging from 5 months 15 days to 1 year 2 months 26 days. Also, The company allotted equity shares/preference shares/convertible preference shares and filed FC-GPR with a delay ranging from 3 years 6 months 24 days to 4 years 3 months 25 days | (i) 36,99,990 (ii) 36,99,990 | 39,860 | |
| 1.101 | M/s SVR Retail Pvt Ltd | Feb/2018 | FDI | FEMA 20/2000-RB | Issue of securities outside India | (i) 4 days to 63 days (ii) 69 days to 192 days | (i) delay in reporting of receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to persons resident outside India | The applicant had received inward foreign remittances for subscription to equity shares and reported the receipt of advance remittances to the Reserve Bank of India with a delay ranging from 4 days to 63 days which is not in line with paragraph 9(1) A of Schedule I of Notification FEMA 20/2000. The applicant allotted equity shares against the above mentioned receipt with a delay of 69 days to 192 days which is not in line with para 9(1) B of schedule 1 to FEMA 20/2000-RB | (i) 531,81,000 (ii) 794,73,000 | 96,211 | |
| 1.102 | M/s. Reitz United Technologies Private Limited | Feb/2018 | FDI | FEMA 20/2000-RB | Issue of securities outside India | (i) 4 years 13 days to 4 years 2 months 24 days (ii) 4 years 4 months 10 days (iii) 9 years 1 months 16 days | (i) delay in reporting of receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to persons resident outside India (iii) delay in refund of shares application money | The applicant received foreign inward remittances amounting to and reported to Reserve Bank of India with delays ranging from 4 years 13 days to 4 year 2 months 24 days. The applicant filed form FCGPRs for issue of shares with a delay of 4 years 4 months 10 days The company has delayed in refund of excess share application money beyond the stipulated period of 180 days in respect of remittance and the period of contravention is 9 years 1 month 16 days. | (i) 37,71,300 (ii) 37,50,000 (iii) 21,300 | 65,181 | |
| 1.103 | M/s. Puffy Thumb Game Studio Private Limited | Feb/2018 | FDI | FEMA 20/2000-RB | Issue of securities outside India | (i) 2 months 1 days (ii) 3 months 27 days to 7 months 29 days | (i) delay in reporting of receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to persons resident outside India | The applicant is a resident company incorporated as a Private Limited Company under the Companies Act, 2013. The applicant had received foreign inward remittances from two foreign investors towards advance for subscription to equity shares and reported to Reserve Bank of India with a delay of 2 months 1 day. Also, the company allotted Equity shares and filed form FC-GPRs with a delay ranging from 3 months 27 days to 7 months 29 days | (i) 1658141 (ii) 9975971 | 25,625 | |
| 1.104 | M/s. Agarwal Sponge and Energy Private Limited | Feb/2018 | FDI | FEMA 20/2000-RB | Issue of securities outside India | (i) 8 days (ii) 1 years 6 months 22 days | (i) delay in reporting of receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to persons resident outside India | The applicant is a resident company incorporated as Private Limited Company under the Companies Act, 1956. The applicant had received foreign inward remittances from two foreign investors towards advance for subscription to equity shares and reported to RBI with a delay of 8 days. The company allotted shares and filed form FC-GPRs to RBI with a delay of 1 year 6 months 22 days | (i) 274,48,079 (ii) 274,47,745 | 103,000 | |
| 1.105 | M/s. American Brew Crafts Private Limited | Feb/2018 | FDI | FEMA 20/2000-RB | Issue of securities outside India | (i) 1 days to 7 days (ii) 1 months 10 days to 4 months 2 days | (i) delay in reporting of receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to persons resident outside India | The applicant had received foreign inward remittances from various foreign investors towards advance for subscription to equity shares and reported RBI about such remitance with a delay which ranges from 1 day to 7 days. The company allotted shares and filed form FC-GPRs with a delay ranging from 1 month 10 days to 4 months 2 days . | (i) 137,42,579 (ii) 969,06,210 | 77,910 | |
| 1.106 | M/s. Bhandari Foundations Pvt Ltd. | Feb/2018 | FDI | FEMA 20/2000-RB | Issue of securities outside India | (i) 5 years 3 months (ii) 10 months 21 days | (i) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to persons resident outside India (ii) delay in allotment of shares without prior approval of Reserve Bank | The applicant company was incorporated on May 04, 2010 under the provisions of the Companies Act, 1956 The company allotted equity shares and filed FC-GPRwith delay of five years three months beyond the prescribed limit in respect of allotment Also, The company allotted shares with delay of 10 months 21 days beyond the prescribed period of 180 days without prior approval of Reserve Bank | (i) 875,500 (ii) 875,500 | 56,034 | |
| 1.107 | M/s. SPG India Pvt Ltd | Feb/2018 | FDI | FEMA 20/2000-RB | Issue of securities outside India | (i) 26 days to 1 years 8 months (ii) 11 months 18 days to 1 years 11 months 8 days | (i) delay in reporting of receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to persons resident outside India | The applicant company was incorporated on February 09, 2012 The applicant received foreign inward remittances from M/s Star Plus Group, Hong Kong towards subscription to equity shares and reported the same to the Reserve Bank with a delay ranging from 26 days to one year eight months. The company allotted equity shares and filed FC-GPRs with a delay ranging from 11 months 18 days to one year 11 months eight days | (i) 677,09,687 (ii) 677,07,800 | 443,940 | |
| 1.108 | M/s. LS Automotive India Pvt Ltd., | Feb/2018 | FDI | FEMA 20/2000-RB | Issue of securities outside India | (i) 8 years 5 months 15 days (ii) 7 months 8 days | (i) delay in reporting of receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to persons resident outside India | The applicant company was incorporated on September 22, 2006 under the provisions of the Companies Act, 1956 The applicant received foreign inward remittances from i) M/s Zero Hitec Co. Ltd., South Korea ii) M/s LS Automotive Corp, (formerly Daesung ElectricCo. Ltd.), South Korea towards subscription to equity shares and reported the same to the Reserve Bank with a delay of eight years five months 15 days Also, The company allotted equity shares and filed FC-GPRs with a delay of seven months eight days | (i) 403,49,193 (ii) 403,49,190 | 478,500 | |
| 1.109 | M/s. LBR leisure and Hospitality Services Pvt Ltd. | Feb/2018 | FDI | FEMA 20/2000-RB | Issue of securities outside India | (i) 1 months 2 days to 3 months (ii) 1 months 2 days to 9 months | (i) delay in reporting of receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to persons resident outside India | The applicant company was incorporated on March 12, 2014 under the provisions of the Companies Act, 1956. The applicant received foreign inward remittances from i) M/s Lebara Investments B V, The Netherlands ii) M/s Karan Holding B V, The Netherlands towards subscription to equity shares and reported the same to the Reserve Bank with a delay ranging from one month two days to three months. The company allotted equity shares and filed FC-GPRs with a delay ranging from one month two days to nine months | (i) 101,57,93,450 (ii) 101,57,93,400 | 154,500 | |
| 1.110 | M/s. Egger Pumps India Pvt Ltd. | Feb/2018 | FDI | FEMA 20/2000-RB | Issue of securities outside India | (i) 1 months 9 days to 3 years 10 months 18 days (ii) 1 months 2 days to 9 months (iii) 8 years 8 months 21 days to 11 years 4 months 15 days | (i) delay in reporting of receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to persons resident outside India (iii) Contravention with regards to issue iof shares without receipt of full consideration. | The applicant company was incorporated on March 31, 2005 under the provisions of the Companies Act, 1956. The applicant received foreign inward remittances from (i) M/s. Emile Egger & CIE SA, Switzerland (ii) M/s Sanfi SA, Switzerland towards subscription to equity shares and reported the same to the Reserve Bank with a delay ranging from one month nine days to three years 10 months 18 days. The same was received in part against issue of shares. Balance amount was received after allotment of shaeres. The company allotted equity shares and filed FC-GPR with a delay ranging from one month two days to nine months. Also, company issued equity shares pending part receipt against the same which was in contravention of Paragraph 8 of Schedule I to Notification No. FEMA 20/2000 | (i) 226,25,463 (ii) 341,89,998 (iii) 28,45,132 | 148,904 | |
| 1.111 | M/s. Bicelli Geco Hydraulics India Pvt Ltd., | Feb/2018 | FDI | FEMA 20/2000-RB | Issue of securities outside India | (i) 9 days to 6 months 22 days (ii) 5 months 9 days to 8 months 10 days | (i) delay in reporting of receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to persons resident outside India | The applicant company was incorporated on July 20, 2015 under the provisions of the Companies Act, 1956. The applicant received foreign inward remittances from M/s Bicelli SRL, Italy towards subscription to equity shares and reported the same to the Reserve Bank with a delay ranging from nine days to six months 22 days. Also, the company allotted equity shares and filed FC-GPRs with delay ranging from five months nine days to eight months 10 days | (i) 226,25,463 (ii) 341,89,998 (iii) 28,45,132 | 33,570 | |
| 1.112 | M/s. Syncfusion Software Pvt Ltd. | Feb/2018 | FDI | FEMA 20/2000-RB | Issue of securities outside India | (i) 10 years 1 months 18 days | (i) delay in refund of excess share application money received | The applicant received an foreign inward remittance amounting to ₹ 10,95,040/- from M/s Syncfusion Inc., USA on 02.09.2005 towards subscription to equity shares and reported the same to the Reserve Bank within the prescribed period. Against the remittance, the company allotted 9000 shares of ₹100/- each on 21.11.2005 amounting to ₹ 9,00,000/- and filed the FC-GPR with Reserve Bank within the prescribed period. The company refunded the excess inward remittances with delay of 10 years one month 18 days beyond the stipulated time of 180 days with prior approval of Reserve Bank | 195,040 | 47,195 | |
| 1.113 | M/s. Dion Lion Saumabaan Distributors Pvt Ltd., | Feb/2018 | FDI | FEMA 20/2000-RB | Issue of securities outside India | (i) 9 days to 2 months 21 days (ii) 2 months 13 days | (i) delay in reporting of receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to persons resident outside India | The applicant company was incorporated on May 05, 2015 under the provisions of the Companies Act, 1956 The applicant received foreign inward remittances from Mr. Arvind R Sharma, USA towards subscription to equity shares and reported the same to the Reserve Bank with delay ranging from nine days to two months 21 days beyond prescribed period of 30 days as mentioned in paragraph 9 (1) A of Schedule I to Notification No. FEMA 20/2000. Also, The company allotted equity shares and filed FC-GPRs with delay of two months 13 days beyond the prescribed limit in respect of the allotment in terms of paragraph 9 (1) B of Schedule I to Notification No. FEMA 20/2000-RB | (i) 14,79,285 (ii) 3,36,350 | 21,250 | |
| 1.114 | M/s. Olympus Therapeutics Pvt Ltd. | Feb/2018 | FDI | FEMA 20/2000-RB | Issue of securities outside India | (i) 7 days to 2 months 13 days | (i) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to persons resident outside India | The applicant company was incorporated on June 24, 2015 under the provisions of the Companies Act, 1956 The applicant received 15 foreign inward remittances amounting to ₹ 4,46,92,435.00 between 10.06.2016 and 26.07.2017 from Mr. Janakiraman Senthilnathan, USA towards subscription to equity shares and reported the same to the Reserve Bank within the stipulated time of 30 days. Also, The company allotted equity shares and filed FC-GPRs with delay ranging from seven days to two months 13 days | 44,692,156 | 20,940 | |
| 1.115 | M/s. SunEdison Solar Power India Pvt Ltd. | Feb/2018 | FDI | FEMA 20/2000-RB | Issue of securities outside India | (i) 1 months 9 days to 1 months 14 days. (ii) 2 years 1 months 7 days to 2 years 1 months 23 days | (i) delay in reporting of receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to persons resident outside India | The applicant company was incorporated on November 07, 2012 under the provisions of the Companies Act, 1956. The applicant received foreign inward remittances from i) M/s SunEdison Energy Holding (Singapore) Pte. Ltd., Singapore ii) M/s Sun Edison Products Singapore Pte Ltd., Singapore towards subscription to equity shares and reported the same to the Reserve Bank with delay ranging from one month nine days to one month 14 days. The company allotted equity shares and filed FC-GPRs ith delay ranging from two years one month seven days to two years one month 23 days | (i) 76,65,20,000 (ii) 108,51,69,937 | 488,000 | |
| 1.116 | M/s. Tele System Electronic (India) Pvt Ltd. | Feb/2018 | FDI | FEMA 20/2000-RB | Issue of securities outside India | (i) 2 days to 9 months 9 days. (ii) 6 months 3 days | (i) delay in reporting of receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to persons resident outside India | The applicant company was incorporated on November 06, 2001 under the provisions of the Companies Act, 1956. The applicant received foreign inward remittances from i) M/s Telesystem Participation LLC, USA ii) M/s Brightway Paradise SDN BHD, Malaysia towards subscription to equity shares and reported the same to the Reserve Bank with delay ranging from two days to nine months nine days. Also, he company allotted equity shares and filed FC-GPR with delay of six months three days | (i) 1,51,35,938 (ii) 1,13,96,680 | 60,260 | |
| 1.117 | M/s Niasha Youth Hostel Private Limited | Feb/2018 | FDI | FEMA 20/2000-RB | Issue of securities outside India | (i) 1 months and 1 days to 1 years 10 months and 22 days (ii) 5 days to 1 years 3 months and 6 days | (i) delay in reporting of receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to persons resident outside India | M/s Niasha Youth Hostel Private Limited, was incorporated on December 29, 2014. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank with a delay ranging from one month and one day to one year ten months and twenty two days beyond the stipulated period of 30 days. The company allotted equity shares and filed Form FC-GPR with a delay ranging from five days to one year three months and six days | (i) 79,11,730 (ii) 37,06,700 | 31,470 | |
| 1.118 | M/s Shinwa (India) Engineering & Trading Private Limited | Feb/2018 | FDI | FEMA 20/2000-RB | Issue of securities outside India | (i) 3 months and 24 days to 5 months and 3 days. (ii) 7 months (iii) 8 days to 3 months and 26 days | (i) delay in reporting of receipt of foreign inward remittance towards subscription to equity (ii) Delay in issue of securities (iii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to persons resident outside India | M/s Shinwa (India) Engineering & Trading Private Limited, was incorporated on July 07, 2008. The applicant reported receipt of remittances to the Reserve Bank of India with a delay ranging from three months and twenty four days to five months and three days. Shares to the extent of Rs.10,60,000.00, relating to the inward remittance received on July 15, 2010, were allotted on August 10, 2011, beyond the stipulated period of 180 days with the prior approval of Reserve Bank of India with a delay of seven months. The applicant had filed Form FC-GPRs on allotment of shares with a delay ranging from eight days to three months and twenty six days beyond the prescribed period of 30 days in respect of allotment of shares | (i) 23,50,000 (ii) 10,60,000 (iii) 38,40,000 | 55,460 | |
| 1.119 | M/s CVC India Infrastructure Private Limited | Feb/2018 | FDI | FEMA 20/2000-RB | Issue of securities outside India | (i) 4 months and 14 days to 6 months and 9 days. (ii) 6 months and 14 days to 8 months and twenty days | (i) delay in reporting of receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to persons resident outside India | M/s CVC India Infrastructure Private Limited, was incorporated on October 07, 2005. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank with a delay ranging from four months and fourteen days to six months and nine days. The company allotted equity shares and filed Form FC-GPR with Reserve Bank with a delay ranging from six months and fourteen days to eight months and twenty days | (i) 113,95,276 (ii) 113,95,257 | 34,740 | |
| 1.120 | M/s. eDreams Edusoft Private Limited | Feb/2018 | FDI | FEMA 20/2000-RB | Issue of securities outside India | (i) 1 months and 21 days to 1 years 6 months and 13 days | (i) delay in reporting of receipt of foreign inward remittance towards subscription to equity | M/s eDreams Edusoft Private Limited, was incorporated on July 14, 2010 The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank, with a delay ranging from one month and twenty one days to one year, six months and thirteen days | 4,501,196 | 13,200 | |
| 1.121 | M/s McElroy Sales and Service India Private Limited | Feb/2018 | FDI | FEMA 20/2000-RB | Issue of securities outside India | (i) 1 years 1 months and 15 days to 2 years and 4 months (ii) 1 years 3 months and 15 days to 2 years 7 months and 15 days (iii) 1 years 10 months and 22 days | (i) delay in reporting of receipt of foreign inward remittance towards subscription to equity (ii) delay in refund of share application money (iii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to persons resident outside India | M/s McElroy Sales and Service India Private Limited, was incorporated on March 12, 2014. The applicant reported receipt of remittances to the Reserve Bank of India / Authorized Dealer Bank, with a delay ranging from one year one month and fifteen days to two years and four months. Company has allotted certain amount of shares and filed Form FC-GPRs with Reserve Bank with a delay of one year ten months and twenty two days. Also, excess application money was refunded with a delay ranging from one year three months and fifteen days to two years seven months and fifteen days | (i) 259,731 (ii) 159,731 (iii) 100,000 | 74,850 | |
| 1.122 | M/s Chumbak Design Private Limited | Mar/2018 | FDI | FEMA 20/2000-RB | Contravention of Regulation | (i) 1 years 11 months and 25 days to 5 years and 12 days | The contravention sought to be compounded is, exceeding the sectoral limits of FDI under automatic route without prior approval from the Government of India | The applicant had received funds towards share application money from foreign investors, namely, M/s Seedfund2 International, Mauritius, M/s Matrix Partners India Investment Holding II, LLC, Mauritius, M/s Matrix Partners India Investment II Extension, LLC, Mauritius and GCFII-A, Mauritius, without prior approval from Government of India, for exceeding sectoral limits by more than 49%. FDI upto 49% is allowed under automatic route. However, applicant invested 61.45%. | 257,425,404 | 1,654,500 | |
| 1.123 | Hirose Electric Singapore Pte. Ltd. | Mar/2018 | Establishment of BO/LO/PO in India | FEMA 22/2000-RB | Opening of liaison office without prior approval of RBI | 3 years 3 months and 10 days | The contravention sought to be compounded relate to establishment in India of additional Liaison Office at Noida without RBI permission | Hirose Electric Singapore Pte. Ltd. was granted permission to establish a Liaison Office in India at Bangalore (Nodal Office) and New Delhi as an additional Liaison Office) vide Reserve Bank approval letter No.FE.CO.FID/14278/10.97.440/2010-11 dated December 15, 2010. However, it opened an office in Noida without prior approval of RBI in May 2014. The office incurred expenditure of Rs. 1,70,65,259/- without generating any income. The Liaison Office noticed non-compliance and suo motu submitted application to Reserve Bank of India for post facto approval for regularization of the contravention on August 10, 2017. | 17,065,259 | 106,793 | |
| 1.124 | Inecom Technology Private Limited | Mar/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 9 years 1 months 21 days (ii) 9 years 6 months 12 days (iii) 9 years 8 months 5 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank (iii) delay in refund of share application money to the foreign investors, persons resident outside India, beyond 180 days of receipt of the inward remittances | The applicant company was incorporated on December 27, 2006 under the Companies Act, 1956. The applicant received foreign inward remittance from Inecom PTE Ltd, Singapore on February 9, 2007, amounting to Rs. 9,00,000. The applicant reported receipt of remittances to the Reserve Bank of India on with a delay of 9 years 1 month 21 days. Shares of Rs. 4,50,000 were allotted as on 9 February 2007 and The applicant filed form FC-GPRs as indicated above with a delay of 9 years 6 months 12 days. Excess of share application money amounting to Rs 4,50,000 was refunded with a delay of years 8 months 5 days on April 12, 2007 beyond a period of 180 days. | (i) 900,000 (ii) 450,000 (iii) 450,000 | 88,813 | |
| 1.125 | M/s. Mimics East Technologies Private Ltd | Mar/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 3 days (ii) 12 years 1 months 4 days 6 months 12 days (iii) 3 months 1 days (iv) 11 years 6 months 23 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank (iii) delay in refund of share application money to the foreign investors, persons resident outside India, beyond 180 days of receipt of the inward remittances (iv) receipt of consideration after allotment of shares | The applicant is a company incorporated as a Private Limited Company under the Companies Act, 1956 on 04.02.2005. It received share application money in from two foreign investor. Out of total application money received, Rs.66,288.98/- was reported with a delay of 3 days. Company reported allottment of shares with a delay of 12 years 1 month 4 days. Company refunded excess share application money amounting to Rs. 3,787.62 with a delay of 3 months 1 day . The applicant received the inward remittance after the allotment of shares with a delay of 11 years 6 months 23 days | (i) 66,28,898 (ii) 50,000 (iii) 378,762 (iv) 50,000 | 52,976 | |
| 1.126 | M/s. Neotiss Limited | Mar/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 11 days to 1 months 19 days (ii) 2 days to 5 years 6 months 11 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank | The applicant is a company originally incorporated as M/s. Chitrakoot Speciality Steels Limited under the Companies Act, 1956 on 30.11.1996 and changed its name subsequently and finally to M/s. Neotiss Limited on 01.07.2016. It received share application money from various investors amounting to Rs. 93,87,13,112 out of which Rs.2,39,63,591/- were reported to Reserve Bank of India with delays ranging from 11 days to 1 month 19 days beyond the prescribed period of 30 days allotment of shares of Rs. Rs.62,07,22,420/- were reported with delays ranging from 2 days to 5 years 6 months 11 days beyond the stipulated period of 30 days | (i) 239,63,591 (ii) 62,07,22,420 | 595,185 | |
| 1.127 | M/s CLT Apparel India Private Limited | Mar/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 3 days to 11 months 30 days (ii) 4 days to 1 years 3 months 1 days (iii) 4 months 7 days (iv) 8 months 6 days to 1 years 2 months 8 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank (iii) delay in refund of share application money to the foreign investors, persons resident outside India, beyond 180 days of receipt of the inward remittances (iv) delay in allotment of shares | M/s. CLT Apparel India Private Limited (herein referred to as company) was a company originally incorporated as M/s. BIAC Clothing India Private Limited under the Companies Act, 1956 on February 10, 2010 and changed its name to M/s. CLT Apparel India Private Limited on April 22, 2010 The company had received foreign inward remittances from the foreign investor on various dates amounting to Rs. 16,36,89,642 out of which Rs.5,97,21,030.40/- were reported with delays ranging from 3 days to 11 months 30 days The company filed form FC-GPRs for the allotment of shares amounting to Rs.16,22,87,000/- out of which shares amounting to Rs.5,56,98,800/- were reported with delays ranging from 4 days to 1 year 3 months 1 day The company has delayed in refund of the share application money to the non-resident investor beyond the prescribed period of 180 days from the date of receipt of remittance amounting to Rs.14,02,500/-and the period of delay is 4 months 7 days The company has also delayed in allotment of shares beyond the stipulated period of 180 days in respect of remittances aggregating to Rs.2,00,37,458 | (i) 597,21,03,040 (ii) 5,56,98,800 (iii) 14,02,500 (iv) 200,37,45,810 | 226,260 | |
| 1.128 | M/s. Brandix Apparel India Private Limited | Mar/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 19 days to 2 months 16 days (ii) of 11 months 26 days (iii) 17 days to 6 months 22 | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank (iii) delay in allotment of shares | The applicant is a company incorporated as Private Limited Company under the Companies Act, 1956 on 28.03.2005. The applicant had received foreign inward remittances from the foreign investor on various dates amounting to Rs. 29,25,47,997.39 out of which remittances amounting to Rs. 23,48,98,782.39/- were reported to Reserve Bank of India with delays ranging from 19 days to 2 months 16 days. The applicant filed form FCGPRs for issue of shares amounting to Rs. 29,25,47,700/- with a delay of 11 months 26 days The company has delayed in allotting shares to the foreign investors beyond the stipulated period of 180 days in respect of remittances aggregating to Rs. 28,49,21,627.39/- and the delay ranges from 17 days to 6 months 22 days | (i) 23,48,98,78,239 (ii) 29,25,47,700 (iii) 28,49,21,62,739 | 1,273,346 | |
| 1.129 | M/s. AGC Apps Pvt Ltd., | Mar/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 12 days to 3 months 5 days (ii) 1 years 2 months 8 days to 1 years 7 months 2 days (iii) 7 months 25 days to 11 months 7 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank (iii) Allotment of shares before receipt of application money | The applicant company was incorporated on September 21, 2015 under the provisions of the Companies Act, 1956. The applicant received foreign inward remittances from foreign investors towards subscription of share capital. It reported to RBI with a delay ranging from 12 days to three months five days. The applicant filed the form FC-GPR with delay ranging from one year two months eight days to one year seven months two days. The company received the inward remittances towards the above allotment with delay ranging from seven months 25 days to 11 months seven days | (i) 55,63,410 (ii) 100,000 (iii) 100,000 | 44,111 | |
| 1.130 | M/s. Lhotellier Ikos Environment India Pvt Ltd | Mar/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 6 days to 1 months 14 days (ii) 8 days to 1 months 4 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank | The applicant received foreign inward remittances from M/s Lead SAS, France (formerly M/s Lead SARL.) towards subscription to equity shares and reported the same to the Reserve Bank with a delay ranging from six days to one month 14 days. It allotted equity shares within prescribed period of time. However, The applicant filed form FC-GPRs with delay ranging from eight days to one month four days | (i) 311,85,490 (ii) 962,92,940 | 39,570 | |
| 1.131 | M/s. Blogilicious Pvt Ltd | Mar/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 7 days to 2 months 27 days (ii) of 2 months 20 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank | The applicant received foreign inward remittances from (i) Mr.Huzefa Sabbir Dhanaliwala, USA (ii) M/s Blogilicious Ltd., UK towards subscription to equity shares and reported the same to the Reserve Bank with a delay ranging from seven days to two months 27 days. It allotted equity shares and filed form FCGPR with a delay of two months 20 days | (i) 37,05,540 (ii) 24,99,99,525 | 21,825 | |
| 1.132 | M/s. E-IT Professionals India Pvt Ltd | Mar/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 1 years 3 months 14 days to 2 years 3 months 23 days (ii) 1 years 7 months 13 days to 1 years 7 months 16 days | (i) delay in submission of Form FCGPRs to the Reserve Bank (ii) Delay in allotment of shares | The applicant received three foreign inward remittances between 09.10.2015 and 29.06.2016 amounting to ₹42,17,889/- from (i) Mr. Ramkumar Ranganathan, USA (ii) Prabhakara Rao Nalamothu, USA (iii) M/s E-IT Professional Corp, USA towards subscription to equity shares and reported the same to Reserve Bank within the prescribed period. The applicant filed form FC-GPRs as indicated above with delay ranging from one year three months 14 days to two years three months 23 days . The company received the inward remittances towards the above allotment with delay ranging from one year seven months 13 days to one year seven months 16 days | (i) 41,95,195 (ii) 500,000 | 47,406 | |
| 1.133 | M/s. Amika Hotels Madurai Pvt Ltd. | Mar/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 10 days to 1 years 11 months 13 days (ii) 1 months 22 days to 1 years 8 months 22 days (iii) 4 years 9 months 8 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank (iii) allotment of shares accounted in the name of third party | The applicant received foreign inward remittances from i) Mr. S Bremakumar, UK ii) Mr. Michael Patrick Morgan, UK iii) M/s Hasting Trading Servicos LDA, Portugal iv) M/s Mascons 1935 Ltd., Seychelles towards subscription to equity shares and reported the same to the Reserve Bank with a delay ranging from 10 days to one year 11 months 13 days. The applicant filed the form FC-GPR as indicated above with delay ranging from one month 22 days to one year eight months 22 days . Amount allotted of Rs. 1,16,74,670 was part of the remittance received from Mr. S Bremakumar in the account of a third party namely M/s Goldmarque Development Pvt Ltd. which was transferred to the applicant company | (i) 761,25,95,525 (ii) 10,15,09,828 (iii) 116,74,670 | 485,328 | |
| 1.134 | Damcosoft Pvt. Ltd. | Mar/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 59 days to 2400 days (ii) 95 to 2637 days (iii) of 261 days (iv) 74 to 1238 days. Iue 5 of 3116 days Iue 6 of 3230 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank (iii) delay in refund of excess share application money received (iv) Delay in issue of shares (v) receipt of foreign investment without Government approval (vi) delay in submission of Form FCTRS to Reserve Bank after transfer of shares | The applicant company received foreign inward remittances towards investment in equity shares from non-residents. The applicant reported the receipt of remittances to Reserve Bank of India with delay ranging from 59 days to 2400 days. Against the above remittances the applicant company issued shares and reported the same to RBI with delay ranging from 95 to 2637 days. The applicant allotted the shares and applied for permission to refund the excess amount with delay of 261 days. The applicant allotted the shares to foreign investors with delay ranging from 74 to 1238 days. There was delay of 3116 days in unwinding of the said inflow amount which is the contravention of Para 3(e) of Schedule I to FEMA 20/2000-RB dated May 3, 2000. There was delay of 3230 days in submission of Form FC-TRS from the date of transfer of shares. | (i) 931,82,73,350 (ii) 815,87,848 (iii) 29,520 (iv) 451,45,747 (v) 33,72,924 (vi) 10,000 | 621,529 | |
| 1.135 | M/s Columbia Medical Systems Private Limited | Mar/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 6teen days to 28 days (ii) 6 days to 6 years 7 months and 3 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank | The applicant had received funds towards share application money from foreign investor, namely, M/s Columbia Medical Systems Mauritius Private Limited, Mauritius and reported same to RBI with a delay ranging from sixteen days to twenty eight days. The company allotted equity shares and filed Form FC-GPRs with Reserve Bank/AD Bank with a delay ranging from six days to six years seven months and three days. | (i) 132,69,311 (ii) 436,77,680 | 71,650 | |
| 1.136 | M/s CEJN Products India Private Limited | Mar/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 2 days to 1 years 8 months and 2 days (ii) 2 months and 25 days to 2 years 2 months and 6teen days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank | applicant had received funds towards share application money from foreign investor, namely, M/s CEJN Products Far East Pte Limited, Singapore and reported same to RBI with a delay ranges from two days to one year eight months and two days. It allotted shares within prescribed time period. However, the applicant filed form FC-GPR with a delay ranges from two months and twenty five days to two years two months and sixteen days | (i) 132,72,000 (ii) 19,57,000 | 29,230 | |
| 1.137 | M/s Prestige Garden Constructions Private Limited | Mar/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 1 days to 2 years 3 months and 15 days (ii) 2 months and 4 days to 2 years 5 months and 2 days (iii) 2 years 5 months and 8 days (iv) 2 years 3 months and 4 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank (iii) Transfer of shares without prior approval of Government (iv) delay in reporting of transfer of shares | The applicant had received funds towards share application money from the foreign investors, namely, M/s Pinnacle Five Limited, Mauritius, and M/s CMIDF Bangalore Forum Value Mall (Singapore) Pte Limited and reported the same with delay ranging from one day to two years three months and fifteen days. The company had allotted equity shares to the foreign investors and filed Form FC-GPRs with Reserve Bank/AD Bank with a delay ranges from two months and four days to two years five months and two days. A resident shareholder of the applicant company, Ms Razia Sulaiman, Bangalore, had transferred 12,62,500 equity shares held by her in the company to a Non-Resident. The applicant company had taken on record, the said transfer of shares in the books of the company without obtaining prior approval from Reserve Bank of India. The applicant obtained post facto approval of such transaction with a delay of two years five months and eight days. The applicant filed form FC TRS with a delay of two years three months and four days | (i) 24,40,00,000 (ii) 30,50,00,000 (iii) 17,50,00,000 (iv) 17,50,00,000 | 1,113,500 | |
| 1.138 | M/s Healthvista India Private Limited | Mar/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 5 days to 8 months and 9 days (ii) 8een days to 2 months and 7teen days (iii) 1 months and 27 days to 8 months and 4 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) Delay in refund of excess application money (iii) delay in submission of Form FCGPRs to the Reserve Bank | The applicant had received funds towards share application money from the foreign investors. The applicant reported receipt of remittances to the Reserve Bank of India / Authorized Dealer Bank, with a delay ranging from five days to eight months and nine days. The company had not refunded the excess share application money to the foreign investors, within the stipulated time of 180 days. The period of delay ranges from eighteen days to two months and seventeen days in case of refund of share application money. The applicant company had allotted equity shares to the foreign investors and filed Form FC-GPRs with Reserve Bank/AD Bank with a delay ranges from one month and twenty seven days to eight months and four days | (i) 49,26,82,693 (ii) 59,579 (iii) 76,89,53,058 | 334,780 | |
| 1.139 | M/s Planet11 eCommerce Solutions India Private Limited | Mar/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 14 days to 1 years 3 months and 9 days (ii) 3 days to 4 months and 13 days (iii) 1 months and 11 days to 1 years 8 months and 22 | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) Delay in refund of excess application money (iii) delay in submission of Form FCGPRs to the Reserve Bank | The applicant had received funds towards share application money from the foreign investors, namely, M/s Wishary Co Ltd, South Korea and M/s SK Planet Co Ltd, South Korea. The applicant reported receipt of remittances to the Reserve Bank of India / Authorized Dealer Bank, with a delay ranging from fourteen days to one year, three months and nine days. The company refunded excess share application money with a delay ranges from three days to four months and thirteen days. The applicant filed the Form FC-GPRs on allotment of shares with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank with a delay ranging from one month and eleven days to one year eight months and twenty two days | (i) 151,99,900 (ii) 34,99,900 (iii) 151,99,900 | 106,830 | |
| 1.140 | PMP Auto Components Private Limited | Mar/2018 | ODI | FEMA 120/RB-2004 | Transfer or Issue of Any Foreign Security | (i) NA (ii) 6 to 7 years | (i) Extending of loan to step sown subsidiary without prior approval of RBI (ii) Delay in submission of APR | It is engaged in the business of manufacturing and marketing auto electrical components for Original Equipment Manufacturers (OEMs). PMP made strategic entry in wiper system business by acquiring Bakony Ablaktorlo-rendszerekKft, Hungary in June 2007(hereinafter referred as ‘PMP Bakony'). In October 2008, the applicant set up a step down subsidiary (SDS) in Czech Republic through PMP Bakony viz PMP Pal International SRO (hereinafter referred as ‘PMP Pal’). On May 26, 2010, the applicant remitted EURO 750,000 (Rs.433,64,670/-) towards loans to PMP Pal i.e. SDS in which the applicant had no direct equity participation without requisite approval from RBI. This was in contravention of regulation 6(4) of FEMA 120/2004-RB. On becoming aware of the contravention the loan was called back by the applicant and the amount was repatriated on July 19, 2010. The applicant also delayed in filing the Annual Performance Reports in form APR with the RBI in respect of the overseas entity for six years during the period 2009-2016 | (i) 433,64,670 (ii) NA | 435,235 | |
| 1.141 | M/s Talon Trims India Private Limited | Mar/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 1 months and 6 days to 4 months and 26 days (ii) 1 months and 14 days to 9 months and 21 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank | The applicant had received funds towards share application money from a foreign investor, namely, M/s Tag It Pacific Limited, Hongkong and reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank with a delay ranging from one month and six days to four months and twenty six days . The company allotted equity shares and filed Form FC-GPR with Reserve Bank/AD Bank with a delay ranging from one month fourteen days to nine months and twenty one days | (i) 9000,005 (ii) 9000,000 | 25,200 | |
| 1.142 | Ms. M Rama Kumari | Mar/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 6 months to 7 months and 3 days (ii) 3 months and 29 days to 5 months and 2 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in allotment of shares to NR | The applicant had received funds towards share application money from the foreign investor, namely, Mr. Sarfaraz Nathoo, Canada and reported receipt of remittances to the Reserve Bank of India / Authorized Dealer Bank, with a delay ranging from six months to seven months and three days. The company allotted shares after 180 days and such delay ranges from three months and twenty nine days to five months and two days. | (i) 30,35,705 (ii) 30,35,705 | 61,640 | |
| 1.143 | M/s Prestige Mangalore Retail Ventures Private Limited | Mar/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 10 days to 3 years 4 months and 24 days (ii) 3 days to 4 months and 5 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in filing form FC GPR | The applicant had received funds towards share application money from foreign investors, namely, M/s Pinnacle Two Limited, Mauritius, and M/s Capita Retail Mangalore Mall (Mauritius) Limited, Mauritius and reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank with a delay ranging from ten days to three years four months and twenty four days. The applicant filed the Form FC-GPRs, on allotment of shares, with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank, with a delay ranging from three days to four months and five days | (i) 42,12,65,425 (ii) 36,24,65,420 | 300,200 | |
| 1.144 | M/s Prestige Mysore Retail Ventures Private Limited | Mar/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) twenty 3 days to 6 months and 24 days (ii) 1 months and 14 days (iii) 3 days to 6 months and 24 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) Delay in allotment of shares (iii) delay in filing form FC GPR | The applicant had received funds towards share application money from the foreign investors, namely, M/s Pinnacle Three Limited, Mauritius, and M/s Capita Retail Mysore Mall (Mauritius) Limited, Mauritius and reported receipt of remittances to the Reserve Bank of India / Authorized Dealer Bank, with a delay ranging from twenty three days to six months and twenty four days. The company had allotted 2,11,63,191 equity shares to the foreign investor on September 12, 2008, beyond 180 days from the date of inward remittance. The amount of contravention is Rs.39,24,81,002.00, and the period of delay is one month and fourteen days. The applicant company had allotted equity shares to the foreign investors and filed Form FC-GPRs with a delay ranging from three days to six months and twenty four days | (i) 24,94,34,000 (ii) 39,24,81,002 (iii) 63,57,41,001 | 1,384,950 | |
| 1.145 | M/s ANSR Source India Private Limited | Mar/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 2 days to 4 years, 6 months and 2 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity | The applicant had received funds towards share application money from foreign investors, namely, M/s ANSR Source INC, USA, M/s Clear Technolgy, INC, USA, Dr. Thomas N Duening, USA, Mr. D P Narayana, USA, Mr. Rajiv D Narayana, USA, and M/s Infolabs Holding LLC, USA and reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank, with a delay ranging from two days to four years, six months and two days | 16,672,550 | 41,730 | |
| 1.146 | M/s Manipal Technologies Limited | Mar/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 10 days to 3 years 4 months and 24 days (ii) 3 years and 5 months | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in filing form FC GPR | The applicant had received funds towards share application money from the foreign investors, namely, M/s Lego Print SPA, Italy, M/s Quad/Graphics Mauritius Limited, Mauritius, and M/s Thomas Greg & Sons Limited (Guernsey) S.A, Colombia and reported receipt of remittances to the Reserve Bank of India / Authorized Dealer Bank, with a delay of three years five months and two days. The applicant company allotted equity shares and filed Form FC-GPRs with Reserve Bank/AD with a delay of three years and five months | (i) 90,00,00,000 (ii) 90,00,00,078 | 712,000 | |
| 1.147 | M/s Paybooks Technologies India Private Limited | Mar/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 5 days to 1 years 5 months and 11 days (ii) 1 years 4 months and 26 days to 3 years 10 months and 29 days (iii) 3 months and 7teen days to 1 years 5 months and 10 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) Delay in refund of excess share application money (iii) delay in filing form FC GPR | The applicant had received funds towards share application money from the foreign investors, namely, Mr Srinivas Ayyalaraju and Ms Aparna Ayyalaraju, USA, Mr Murugappan Nagamanikkam, USA, Mr Sangeet Batra, Singapore, and Mr Mohammed Salman Niaz, Singapore and reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank with a delay ranging from five days to one year five months and eleven days. the company had refunded excess share application money beyond 180 days from the date of receipt of inward remittances, with the prior approval of RBI. Such period of delay amounted to from one year four months and twenty six days to three years ten months and twenty nine days. The applicant company allotted equity shares and filed Form FC-GPRs with Reserve Bank/AD with a delay ranging from three months and seventeen days to one year five months and ten days | (i) 149,93,591 (ii) 483,747 (iii) 154,88,750 | 46,950 | |
| 1.148 | M/s Accion Labs India Private Limited | Mar/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 6 months and 4 days (ii) 2 years 2 months and 3 days (iii) 6 months and 4 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) Delay in refund of excess share application money (iii) delay in filing form FC GPR | The applicant had received funds towards share application money from the foreign investor, namely, M/s Accion Labs US INC, USA and reported the receipt of above remittance to the Reserve Bank of India / Authorized Dealer Bank, with a delay of six months and four days. The company refunded share application money with a delay of two years two months and three days The applicant had filed the Form FC-GPR on allotment of shares with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank with a delay of six months and four days | (i) 54,27,719 (ii) 427,719 (iii) 50,00,000 | 75,700 | |
| 1.149 | M/s Xiaomi Communications and Logistics India Private Limited | Mar/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 1 years 4 months and 9 days to 1 years 6 months and 26 days (ii) 1 years 8 months and 2 days (iii) 1 years 5 months and 7teen days to 2 years 2 months and 7teen days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) Delay in refund of excess share application money (iii) delay in filing form FC GPR | The applicant had received funds towards share application money from the foreign investor, namely, M/s Xiaomi Singapore Pte Limited, Singapore and reported receipt of remittances to the Reserve Bank of India / Authorized Dealer Bank, with a delay ranging from one year four months and nine days to one year six months and twenty six days. Company refunded share application money with a delay of one year eight months and two days. The applicant company had allotted equity shares to the foreign investor and filed Form FC-GPRs with Reserve Bank/AD with a delay ranges from one year five months and seventeen days to two years two months and seventeen days | (i) 300,99,000 (ii) 100,000 (iii) 299,99,000 | 75,700 | |
| 1.150 | M/s Himile Molds (India) Pvt. Ltd. | Mar/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 25 to 80 days (ii) 47 to 180 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in filing form FC GPR | The applicant company has received total eight inflows amounting to ₹17,08,79,561/- from foreign investors under automatic route and reported the same to Reserve Bank of India with a delay of 25 to 80 days The applicant allotted equity shares and filed FC-GPRs with a delay of 47 to 180 day | (i) 836,37,109 (ii) 17,08,79,560 | 124,500 | |
| 1.151 | M/s BC Instruments India Pvt. Ltd. | Mar/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 7 to 4563 days (ii) 5 to 4605 days (iii) 2 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in filing form FC GPR (iii) Delay in allotment of shares | The applicant company has received total twenty nine inflows amounting to ₹3,79,59,390/- from foreign investors under automatic route and reported the same to Reserve Bank of India with a delay of 7 to 4563 days. The applicant allotted equity shares and filed FC-GPRs with a delay of 5 to 4605 days. Delay in allotment of shares amounted to 2 days | (i) 45,53,250 (ii) 115,02,606 (iii) 998,250 | 176,538 | |
| 1.152 | M/s Novagen Healthcare Pvt. Ltd. | Mar/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 1 to 669 days (ii) 114 to 514 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in filing form FC GPR | The applicant company has received total seven inflows amounting to ₹5,82,55,429/- from foreign investors under automatic route and reported the same to Reserve Bank of India with a delay of 1 to 669 days. It allotted the shares and filed form FC - GPR with a delay of 114 to 514 days | (i) 334,80,446 (ii) 334,80,500 | 212,940 | |
| 1.153 | M/s Raipar Renewable Energy Pvt. Ltd. | Mar/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 86 to 262 days (ii) 191 to 264 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in filing form FC GPR | The applicant company has received total five inflows amounting to ₹37,07,00,000/- from foreign investors under automatic route and reported the same to Reserve Bank of India with a delay of 86 to 262 days. It filed FCGPR on allottment of shares with a delay of 191 to 264 days | (i) 37,07,00,000 (ii) 37,06,99,987 | 354,080 | |
| 1.154 | M/s Casme Industrial Park Development (India) Pvt. Ltd. | Mar/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 3 to 56 days (ii) 120 to 295 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in filing form FC GPR | The applicant company has received total twelve inflows amounting to ₹100,98,77,699/- from foreign investors under automatic route and reported the same to Reserve Bank of India with a delay of 3 to 56 days. The applicant allotted shares and filed form FCGPR with a delay of 120 to 295 days | (i) 21,56,00,391 (ii) 100,98,75,299 | 345,750 | |
| 1.155 | Source Pundit Info Systems Pvt Ltd | Mar/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Any Foreign Security | (i) 5 years (ii) 4 years | (i) Recording transfer of shares by Resident to NR. (ii) Delay in submission of FLA returns | The applicant Source Pundit Info Systems Pvt Ltd is a pvt limited company incorporated under the provisions of the Companies Act 1956 on February 8, 2008. The applicant is engaged in the business of providing recruitment solutions for domestic and international operators. Ms.Kiran Sethi and Mr.Ravinder Singh Sethi were the initial shareholders of the company holding 5000 shares each. Both the shareholders Ms.Kiran Sethi and Mr.Ravinder Singh Sethi gifted 2500 shares and 2000 shares respectively to Mr.Rajiv Singh Chhatwal (non-resident) without prior approval of RBI. The company took this transfer of shares on record which is a contravention of Regulation 4 of FEMA 20. The transaction has been reversed and Mr.Rajiv Singh Chhatwal (non-resident) has re-gifted 4500 equity shares to Mr.Ravinder Singh Sethi. Further, Annual Returns of Foreign Liabilities and Assets (FLA) for the financial years 2012-13, 2013-14, 2014-15 and 2015-16 were not submitted / submitted with delay by the company which is a contravention of Para 9(2) of Schedule 1 of FEMA 20. | 603,230 | 55,000 | |
| 1.156 | Soha Systems India Private Limited | Apr/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 1 years 7 m and 3 daysa to 2 years 3m and 26 days | (i) Refund of excess share application money to the foreign investors with a delay beyond the stipulated period of 180 days from the date of receipt of amount of consideration | The company is engaged in the business of providing unique alternative to traditional remote access technologies such as VPN’s, RDP and proxies. The company has received inward remittances from non resident investors. The excess share application money of Rs.4,433.00, was refunded with a delay beyond stipulated period, with prior approval from Reserve Bank on December 07, 2017, to the non-resident investor. | 5,046 | 1,130 | |
| 1.157 | Mobili Italia India Private Limited | Apr/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 3 months 17 days (ii) 2 years 9 months and 20 days (iii) 2 years 10 months 16 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank (iii) Allotment of shares before receipt of application money | The company is engaged in business of manufacture of furniture. The applicant received foreign inward remittances from M/s City Bond Ltd., Hong Kong towards subscription to equity shares and reported the same to the Reserve Bank beyond the stipulated period of time. The applicant filed Form FC-GPR beyond 30 days from the date of issue of share to person resident outside India | (i) 200,00,000 (ii) 200,00,000 (iii) 10,81,80,000 | 57,487 | |
| 1.158 | KO Con India Private Limited | Apr/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 10 years 4 m 10 days | (i) Delay in refund of inward remittance received towards subscription to shares | The company is engaged in the business of manufacture of rubber conveyor or transmission belts or belting. The applicant received a foreign inward remittance amounting to ₹ 1,84,21,932.00 from M/s Korea Conveyer Ind Co. Ltd., South Korea on 15.02.2006 towards subscription to equity shares and reported the same to the Reserve Bank. The company allotted 18,00,000 shares of ₹10/- each on 24.02.2006 amounting to ₹1,80,00,000.00 against the inward remittance and filed the FC GPR with Reserve Bank. The company refunded the amount beyond the stipulated period of 180 days with approval of RBI | 421,932 | 49,746 | |
| 1.159 | Serviont Global Solutions Limited | Apr/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 9 days to 8 months 27 days | (i) delay in submission of Form FCGPRs to the Reserve Bank | The company is engaged in business of writing, modifying, testing of computer program to meet the needs of a particular client excluding web-page designing. The applicant received 14 foreign inward remittances between 11.01.2001 and 24.08.2017 amounting to ₹ 112,60,26,970.77 from various foreign investors towards subscription to equity shares and reported the same to the Reserve Bank. the applicant submit form FC-GPRs beyond the period of 30 days from the date of issue of shares to person resident outside India | 494,567,474 | 43,330 | |
| 1.160 | Manureva Digital Solutions India Private Limited | Apr/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 26 days to 7 months (ii) 1 m 5 days to 10 m 26 days (iii) 15 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank (iii) Allotment of shares before receipt of application money | The company is engaged in business of web-page designing. The applicant received foreign inward remittances from foreign investors towards subscription to equity shares and reported the same to the Reserve Bank. The applicant reported receipt of remittances beyond the period of 30 dyas from the date of receipt of amount of consideration. Further, applicant filed form FC-GPRs beyond the period of 30 days from the date of issue of shares to person resident outside India. The company allotted shares with delay of 15 days without prior approval of Reserve Bank. | (i) 100,13,73,122 (ii) 100,00,000 (iii) 99,00,000 | 105,395 | |
| 1.161 | Yongsan Automotive India Private Limited | Apr/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 19 days to 4 months 14 days | (i) Delay in refund of inward remittance received towards subscription to shares | The company is engaged in business of manufacture of other special purpose non-electrical machinery/equipment. The applicant received six foreign inward remittances amounting to ₹ 27,46,07,268.71 from M/s Yong San Co. Ltd., South Korea between 03.03.2007 and 16.04.2014 towards subscription to equity shares and reported the same to the Reserve Bank.The company alloted shares without prior approval of RBI beyond the stipulated period of 180 days from the date of receipt of inward remittance | 93,998,320 | 389,990 | |
| 1.162 | Green Coke & Ferro Alloys (P) Ltd | Apr/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 6 years 4 m and 10 days | (i) Delay in refund of inward remittance received towards subscription to shares | The company is engaged in other business services. The applicant received a foreign inward remittance amounting to ₹ 8,00,000/- from Mr. Herald Anthony Gomez, UAE on 02.05.2011 towards subscription to equity shares and reported the same to the Reserve Bank within the prescribed period. The company refunded the amount of Rs. 800,000 beyond stipulated period of 180 days from the date of receipt of inward remittance without prioer approval of RBI | 800,000 | 63,000 | |
| 1.163 | M.S.Transformers India Private Limited | Apr/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 8 days to 6 years 8 months 10 days (ii) 2 m 5 days to 5 yr3 m 15 days (iii) 1 m 28 days to 9 m 13 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank (iii) Allotment of shares before receipt of application money | The company is engaged in business of Manufacture of electronic capacitors, resistors, chokes, coils, transformers (electronic) and similar components. The applicant received foreign inward remittances from M/s Manfred Schmelzer GmbH, Germany towards subscription to equity shares and reported the same to the Reserve BankThe applicant reported receipt of remittances beyond the period of 30 dyas from the date of receipt of amount of consideration. Further, applicant filed form FC-GPRs beyond the period of 30 days from the date of issue of shares to person resident outside India. The company allotted shares with delay of 1 m 28 days to 9 m 13 days without prior approval of Reserve Bank. | (i) 173,36,64,400 (ii) 122,97,050 (iii) 42,25,665 | 229,946 | |
| 1.164 | R N Photo Coatings Private Limited | Apr/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 7 m 12 days to 2 years 1 days (ii) 14 days | (i) delay in submission of Form FCGPRs to the Reserve Bank (ii) Allotment of shares before receipt of application money | The company is engaged in the business of manufacture of other articles n.e.c. The applicant received five foreign inward remittances between 04.06.2012 and 25.04.2014 amounting to ₹ 1,27,18,447.33 from M/s AT Promotions Ltd.,UK towards subscription to equity shares and reported the same to Reserve Bank.Further, applicant filed form FC-GPRs beyond the period of 30 days from the date of issue of shares to person resident outside India. The company allotted shares with delay of 14 days without prior approval of Reserve Bank. | (i) 1,27,18,43,000 (ii) 21,15,86,266 | 66,380 | |
| 1.165 | VSoft Technologies Private Limited | Apr/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 1 months 4 days to 2 years 7 months 27 days (ii) 8 months 7 days to 1 years 10 months 23 days (iii) 6 months 12 days (iv) 11 years 27 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank (iii) issue of shares by way of swap without the Government of India (erstwhile FIPB) approval (iv) Allotment of shares before receipt of application money | The company is engaged in the business of providing computer consultancy and computer facilities management activities.The applicant received foreign inward remittances from foreign investors towards subscription to equity shares and reported the same to the Reserve Bank. The applicant reported receipt of remittances beyond the period of 30 dyas from the date of receipt of amount of consideration.The applicant has taken over another Indian company, the company allotted shares to F Co. As a part of acquisition and consolidation plan, the applicant has acquired M/s. VSoft Corporation, USA in which M/s. VSoft Holdings, Mauritius has 100% shareholding. Subsequently, the applicant has allotted 1,11,11,000 shares to M/s. VSoft Holdings, Mauritius by way of swap towards acquisition of M/s. VSoft Corporation, USA for consideration other than cash on 24.09.2015. Further, applicant filed form FC-GPRs beyond the period of 30 days from the date of issue of shares to person resident outside India. The company allotted shares without prior approval of Government of India. | (i) 511,08,716 (ii) 105,30,00,195 (iii) 99,99,99,000 (iv) 20,99,790 | 5,577,565 | |
| 1.166 | Kodiak Networks India Private Limited | Apr/2018 | ODI | FEMA 120/RB-2004 | Acquisition of shares by resident individuals of foreign securities | (i) 11 years 8 months | (i) Not filing of annual returns in relation to the issuance of options to the Indian Resident employees under ESOP Plan | The applicant company namely “Kodiak Networks India Private Limited” was incorporated and registered in India under the Companies Act, 1956 on April 22, 2003. The applicant company is a wholly owned subsidiary of Kodiak Networks Inc; USA. As a part of its policy to incentivize professionals engaged by the applicant company in India, Kodiak Networks Inc, USA had formulated “ Kodiak Networks Inc; 2003 Indian Employee stock option Plan (ESOP)”. Pursuant to the Plan, ten employees including directors of the applicant company were granted stock options. The option holders of the applicant company exercised their stock options between 2005 and 2006. And the same should have been reported by December 2005 and December 2006 respectively. However, the applicant company has not filed any annual return as advised under regulation 22(2)(ii) of Notification FEMA 120/ RB-2004 dated July 7, 2004 as amended from time to time. The total amount of contravention is USD 6184.36 (INR 273787.80) | 27,378,780 | 21,667 | |
| 1.167 | ITS Technodue India Private Limited | Apr/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 1 days (ii) 16 days (iii) 2 yr 4 m 28 days (iv) 9 years 5 months 13 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank (iii) Allotment of shares before receipt of application money (iv) Delay in refund of excess share application money | The company is engaged in the business of manufacturing semi-finished products of plastics and pipe fittings.The applicant received foreign inward remittances from foreign investors towards subscription to equity shares and reported the same to the Reserve Bank. The applicant reported receipt of remittances beyond the period of 30 dyas from the date of receipt of amount of consideration. Further, applicant filed form FC-GPRs beyond the period of 30 days from the date of issue of shares to person resident outside India. The company allotted shares without prior approval of Reserve Bank. Further, The company has delayed in refund of excess share application money beyond the stipulated period of 180 days in respect of remittances aggregating to Rs. 38,083/- | (i) 718,518 (ii) 28,00,000 (iii) 28,00,000 (iv) 38,083 | 72,328 | |
| 1.168 | Skyweb Infotech Limited | Apr/2018 | ODI | FEMA 120/RB-2004 | Transfer or Issue of any Foreign Security | (i) 15 years and 3 months (ii) 15 years and 3 months (iii) 13 to 14 years (iv) NA | (i) outward remittance made directly to a step down subsidiary (SDS) without prior approval (ii) not obtaining share certificates against the direct investment made in an overseas joint venture (JV) entity (iii) delay in submission of annual performance reports (APRs) in respect of overseas JV (iv) disinvestment of overseas JV involving writeoff under automatic route which was not permitted at that time | The applicant (SIL) made an outward remittance of USD 25,000.00 on September 28, 2002, to acquire stake in the equity of Highveld Investments Limited, Mauritius (HILM) – a company incorporated in Mauritius in February 2000. During the financial year 2002 itself, the overseas JV (HILM) had established a company in the USA, namely Cross Border IT Inc., USA (CBIT) which thus became an overseas SDS under the overseas JV (HILM). The applicant (SIL) had made an outward remittance of USD 15,000.00 directly to the overseas SDS (CBIT), without prior approval on July 17, 2002. The applicant could not submit share certificate or any other proof of investment in the equity of overseas JV (HILM) and overseas SDS (CBIT) in respect of the outward remittances made. As a consequence of the disinvestment, there was an inward remittance from repatriation of USD 25,000.00, against the total outward remittance of USD 40,000.00 Thus, as the amount repatriated on disinvestment was less than the amount invested, the balance amount of USD 15,000.00 was deemed as write-off of investment in overseas JV | (i) 735,45,000 (ii) 19,49,95,000 (iii) NA (iv) 19,49,95,000 | 292,641 | |
| 1.169 | RJ Corp Limited | Apr/2018 | ODI | FEMA 120/RB-2004 | Transfer or Issue of any Foreign Security | (i) 3 months to 6 months (iii) 6 months | (i) nonreceipt of outstanding dues within the stipulated time period (ii) disinvestment of stakes in WOS with outstanding dues | The applicant was incorporated as Cheers Beverages Private Limited Arctic Drinks Limited on March 01, 1980 (CIN: U62200DL1980PLC010262) under the Companies Act, 1956 and its name was subsequently changed to R.J. Corp Limited (RJCL) on May 29, 2008. It is engaged in the business of acquiring, distributing, exploiting audio and visual contents. RJCL made remittances amounting to AUD 4,150,100 (total financial commitment including guarantee AUD 11,650,100) to the overseas JV in Australia viz South Yarra Landholdings Pty. Ltd. under the automatic route during the period 2011-2013. The applicant disinvested its stake in the JV on October 30, 2015 to a foreign party for AUD 460,000 (Rs. 2,12,38,200/-). The interest due on the overseas loan amounting to AUD 602,885 (Rs.2,96,63,434/-) due to be received by the Indian party on June 30, 2015 from the overseas JV, was received during the period from October 20, 2015 to April 13, 2016. Receipt of interest beyond the stipulated period was in contravention of regulation 15(ii) of FEMA 120/2004-RB | (i) 2,96,63,434 (ii) 2,12,38,200 | 354,508 | |
| 1.170 | Jindal Futures Private Limited | Apr/2018 | ODI | FEMA 120/RB-2004 | Transfer or Issue of any Foreign Security | (i) & 2 10 months | (i) delay in filing Form ODI and undertaking ODI transactions in IFC without the allotment of UIN (Unique Identification Number) (ii) undertaking overseas investment without earning a net profit during preceding three financial years from financial services activities | The applicant company was incorporated as Jindal Futures Private Limited on March 28, 2012. It is engaged in carrying on the business of brokers in shares, stocks, debentures, currency futures, bonds etc. On December 15, 2016, the applicant set-up a wholly owned subsidiary (WOS), namely Jindal IFSC Private Limited, in International Finances Services Centre (IFSC), GIFT City, Gujarat. On 18.01.2017, the applicant transferred USD 1,60,000 (INR 1,08,74,400) to the WOS, without submitting the Form ODI- Part I within the designated time period, and when the Indian party had not earned net profit during the preceding three financial years from the financial services activities. The above was thus in contravention of Regulations 6(2)(vi) and 7(i) of Notification No. FEMA 120/2004-RB. The post-facto approval was granted and UIN was allotted on 04.10.2017. | (i) & 2 108,74,400 | 208,744 | |
| 1.171 | Principal PNB Asset Management Company Private Limited | Apr/2018 | FDI | FEMA 20/2000-RB | Contravention of provisions | 2.5 years | The contraventions sought to be compounded are the indirect foreign investment in M/s MF Utilities India Private Limited (MFU) by M/s Principal PNB Asset Management Company Pvt Ltd without prior Govt approval. | Principal PNB Asset Management Company Private Ltd (PPAMC) is an Asset Management Company and is registered under SEBI (Mutual Fund) Regulations, 1996. Principal Financial Group (Mauritius) Limited (PFGM). PFGM is a wholly owned subsidiary of Principal Financial Group Inc, USA. PPAMC acquired 500,000 shares of Re.1.00 each at par in MFU on April 30, 2014. MFU was initially incorporated to develop and own a trade-reporting-cum aggregating software for mutual funds and distributors. On December 29, 2014, MFU sought registration as Cat-II Registrar to an Issue under SEBI (Registrars to an Issue and Share Transfer Agents) Regulations, 1993 which is classified as ‘Other Financial Services ‘under FEMA, 1999. As per Para F.8 of Schedule 1 of FEMA (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000, foreign investment in ‘Other Financial Services’, other than those specifically stated therein, would require prior approval of the Government. PFGM is a foreign company which holds 78.62% of the total share capital of PPAMC and hence the investment made by PPAMC in MFU would amount to Indirect Foreign Investment in MFU. | 500,000 | 53,000 | |
| 1.172 | VD Global Private Limited | Apr/2018 | ODI | FEMA 120/RB-2004 | Delay in reporting | 5 months to 9 years | (i) delay in submission of Annual Performance Reports (ii) repatriation of disinvestment proceeds beyond stipulated period of 90 days | The applicant, earlier Vallabhbhai Dhanjibhai & Co, a partnership firm registered under the Indian Partnership Act, 1932, got converted to a private limited company viz. VD Global Private Limited The applicant remitted HKD 2,000,000 (INR 1,04,60,000/-) on June 06, 2007 towards its stake in a Joint-Venture (JV) in Hong Kong viz VRAMS Impex Ltd. The overseas JV was incorporated on March 22, 2007. The stake in the overseas JV was disinvested by the applicant on September 14, 2016 while the disinvestment proceeds amounting to HKD 2,000,000 were repatriated on May 24, 2017. Further all the APRs since inception of the JV i.e. for the year ending March 31, 2008 to the year ending March 31, 2016 (09 years) were submitted after the stipulated period which was in contravention of regulation 15(iii) of FEMA 120/2004-RB. | 10,460,000 | 192,300 | |
| 1.173 | BASIX SUB-K iTransactions Limited | Apr/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 13 days to 2 months 26 days (ii) 21 days to 2 m 9 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank | The company is engaged in the business of offering facilitation services in unbanked areas as a Business Correspondent (BC) for various banks.The applicant received foreign inward remittances from foreign investors towards subscription to equity shares and reported the same to the Reserve Bank. The applicant reported receipt of remittances beyond the period of 30 dyas from the date of receipt of amount of consideration. Further, applicant filed form FC-GPRs beyond the period of 30 days from the date of issue of shares to person resident outside India | (i) 699,99,99,975 (ii) 599,99,99,970 | 61,500 | |
| 1.174 | Dempo Industries Private Limited | Apr/2018 | ODI | FEMA 120/RB-2004 | Transfer or Issue of Any Foreign Security | (i) 2 to 3 years (ii) 2 years | (i) Delay in submission of APR (ii) Delay in repatriation of sale proceeds | The applicant company was incorporated on December 15, 1987 as Universal Beverages Ltd. Its name was subsequently changed to Dempo Industries Ltd on July 26, 2000 and further as Dempo Industries P. Ltd on April 3, 2001. The applicant is engaged in the business of soft drinks, aerated water, mineral water, beverages, packing material, proprietors and publishers of newspapers, journals, magazines, books etc. The applicant had made an initial investment of USD 247,500 on October 06, 2009 in the overseas wholly owned subsidiary, Dempo Global Resources, Indonesia. However, APRs for the year 2009 and 2010 were submitted with delay on April 24,2012, thereby contravening Regulation 15(iii) of Notification No FEMA 120-RB 2004. The business of the overseas WOS was not economically viable and the applicant liquidated the overseas WOS on January 17, 2011. The liquidation proceeds amounting to USD 189,990 were repatriated to India with delay on February 23, 2012.This was not in line with Regulation 16(2) of Notification No. FEMA 120-RB 2004, under which disinvestment/liquidation proceeds are required to be repatriated within 90 days of disinvestment. | (i) NA (ii) USD 189,990 | 226,376 | |
| 1.175 | Amrutha Power Projects Private Limited | Apr/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 14 years 5 months to 5 years 9 months 3 days (ii) 1 days to 3 years 1 months 9 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank | The company is engaged in the business of electric power generation, transmission and distribution.The applicant received foreign inward remittances from foreign investors towards subscription to equity shares and reported the same to the Reserve Bank. The applicant reported receipt of remittances beyond the period of 30 dyas from the date of receipt of amount of consideration. Further, applicant filed form FC-GPRs beyond the period of 30 days from the date of issue of shares to person resident outside India | (i) 21,78,31,355 (ii) 35,96,49,300 | 1,415,250 | |
| 1.176 | Chigurupati Technologies Private Limited | Apr/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 1 months 4 days to 4 months 18 days (ii) 17 days to 4 months 22 days (iii) 1 years 10 months 26 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank (iii) taking on company’s record, the transfer of shares between nonresident Indian to nonresident company without prior permission of Reserve Bank of India | The company is engaged in the business of research and development, selling, dealing in all types of technologies related to processing of food products, beverages and obtaining intellectual property rights thereon.The applicant received foreign inward remittances from foreign investors towards subscription to equity shares and reported the same to the Reserve Bank. The applicant reported receipt of remittances beyond the period of 30 dyas from the date of receipt of amount of consideration. Further, applicant filed form FC-GPRs beyond the period of 30 days from the date of issue of shares to person resident outside India. Further, the company has taken on their record the transfer of shares from NRI to foreign company without prior approval of RBI | (i) 70,37,54,639 (ii) 70,37,400 (iii) 99,990 | 35,945 | |
| 1.177 | Arvind Singh Mewar – I | Apr/2018 | ECB | FEMA 3/2000-RB | Borrowing or Lending in Foreign Exchange | (i) 4 years 8 months | (i) Lending of foreign exchange by a resident individual to a nonresident entity from the bank accounts held outside India otherwise than in accordance with the provisions of Foreign Exchange Management | The applicant, Arvind Singh Mewar, is a resident individual. The applicant, during his visit to UK, opened accounts with HSBC, UK on July 09, 2008, account number 22615576 (parent account) by depositing an amount of GBP 5000. The applicant remitted an amount of GBP 154,500 (Rs.1,33,91,218.85) to these foreign currency accounts held with HSBC, UK during the period from November 2008 to October 2014 under the Liberalized Remittance Scheme (LRS) from the bank accounts held in India. The applicant, as director of the company, extended loan amounting to GBP 156,563.80 (Rs.1,48,98,472,72/-) to a non-resident company registered in UK viz The Lake Palace Hotels & Motels UK Limited. A part of the loan was given by way of incurring expenditure on behalf of the company amounting to GBP 76,563.80 (Rs.72,49,355.72/-) during the period from May 29, 2013 to June 30, 2017 and the balance amount of GBP 80,000 (Rs.76,49,117/-) by transfer of funds from the parent account during the period from November 28, 2015 to February 09, 2017. A total amount of GBP 70,000 (Rs.63,53,324/-) was received towards part repayment of the loan by the applicant during the year 2016-17 | 1,489,847,272 | 154,289 | |
| 1.178 | Arvind Singh Mewar – II | Apr/2018 | ECB | FEMA 3/2000-RB | Borrowing or Lending in Foreign Exchange | (i) 2 years to 7 years (ii) 9 years 7 months | (i) non repatriation of amounts due to a person (ii) Maintenance of account held out side India after returning to India | The applicant, Arvind Singh Mewar, is a resident individual. The applicant, during his visit to UK, opened accounts with HSBC, UK on July 09, 2008, account number 22615576 (parent account) by depositing an amount of GBP 5000 (Rs.4,25,100/-) by cash and saving account number 22615584 by transfer of funds from the parent account. Another account bearing number 84648942 was opened by the applicant with HSBC, UK on August 03, 2011 by transfer of funds from the parent account. The applicant remitted an amount of GBP 154,500 (Rs.1,33,91,218.85) to these foreign currency accounts held with HSBC, UK during the period from November 2008 to October 2014 under the Liberalized Remittance Scheme (LRS) from the bank accounts held in India. In addition to the above remittances, a total amount of USD 800,000 (Rs.4,62,75,732/-) was deposited in the applicant’s foreign currency accounts by the JCB group directly during the period 2010-2018 towards fee for appointment as a senior advisor on the JCB Indian Advisory Council. Out of this amount, USD 200,000 (Rs.1,31,48,730.40/-) was repatriated by the applicant in January 2018. Non-repatriation of the balance amount of USD 600,000 (Rs.3,31,27,001.60/-) to India was in contravention of regulation 3 of Notification No. FEMA.9/2000-RB dated 3rd May 2000. | (i) 3,31,27,00,160 (ii) 4,25,100 | 332,777 | |
| 1.179 | Surbana International Consultants (India) Private Limited | Apr/2018 | ECB | FEMA 3/2000-RB | Borrowing or Lending in Foreign Exchange | (i) to 5 2 years to 9 years | (i) the borrower was not an eligible borrower in terms of extant ECB guidelines (ii) foreign lenders were not recognized lenders at the time of the drawdown dates (iii) utilization of ECB proceeds to meet operational expenses was nonpermissible end use (iv) draw down of the ECB without obtaining Loan Registration Number (LRN) from the Reserve Bank of India (RBI); (v) nonadherence to the ECB reporting guidelines. | The applicant company was incorporated as Cesma International Consultants (India) Private Ltd on February 13, 2003 under the Companies Act, 1956 (CIN U74210TG2003PTC040481) and its name was subsequently changed to Surbana International Consultants (India) Private Ltd (SICPL) on August 02, 2005. It is engaged in the business of providing architectural design, master planning and project consultancy services to various clients in India. SICPL is a wholly owned subsidiary of Cesma International Pte Ltd, Singapore (‘Cesma Singapore). During the course of rendering the services, the overseas group entities incurred expenditure amounting to SGD 64,27,869 (Rs.31,96,08,020/-) primarily on account of travel expenses, hotel expenses, consultancy services etc on behalf of SICPL which were cross charged to SICPL on cost to cost basis. SICPL could not pay the above dues to the overseas group companies due to financial hardships and liquidity concerns. As the dues remained outstanding for a period exceeding three years, these were in the nature of deemed ECB. The applicant was not eligible to raise ECB as companies engaged in the business of providing consultancy services were not permitted to undertake ECB under automatic route. The applicant also availed an interest free ECB amounting to SGD 500,000 (Rs.1,37,21,200/-) on March 15, 2005 for modernization/expansion of its existing unit from its holding company. The funds amounting to SGD 170,000 (Rs.43,73,265/-) were drawn towards a portion of the loan before obtaining Loan Registration number (LRN) from RBIwhich was in contravention of para 1(xi) of schedule I to regulation 6(1) of Notification No. FEMA 3/2000-RB. Also, the loan was utilised for the purpose of incurring recurring expenditure which is not an eligible end use. Further, the applicant did not adhere with the ECB reporting requirements thereby contravening the said FEMA regulation i.e. Paragraph 1(xii) of schedule – I to FEMA Notification No. FEMA.3/2000-RB. | (i) 33,33,29,220 (ii) 31,96,08,020 (iii) 31,96,08,020 (iv) 32,39,81,285 (v) 31,96,08,020 | 2,455,213 | |
| 1.180 | Harsha Chigurupati | Apr/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 1 years 10 months 26 days | (i) Taking on company’s record, the transfer of shares between nonresident Indian to nonresident company without prior permission of Reserve Bank of India | The applicant, a Non-Resident Indian, held 9999 shares of M/s. Chigurupati Technologies Private Limited, an Indian Company incorporated on 25.04.2013. The shares of M/s. Chigurupati Technologies Private Limited were allotted to the applicant, as a promoter and Director when he was resident in India.The applicant has since become a non-resident Indian and transferred 9999 equity shares amounting to Rs. 99,990/- on December 07, 2015 to M/s. Chigurupati technologies FZE, Dubai, non-resident company without prior approval of Reserve Bank of India.This was in contravention of Regulation 3 read with Regulation 9(2)(ii) of Notification No. FEMA 20/2000-RB dated May 03, 2000 as then applicable, which permits transfer of shares from non-resident Indian to another non-resident Indian only, and not to a non-resident company. | 99,990 | 19,198 | |
| 1.181 | Omullane India Solutions Private Limited | Apr/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 1 months 16 days to 3 months 12 days (ii) 1 days to 4 months 7 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank | The company is engaged in the business of providing Human resources through recruitment and management of human resources functions.The applicant had received foreign inward remittances from a single foreign investor towards advance for subscription to equity shares.The applicant reported receipt of remittances towards share subscription amounting to ₹11,09,058/- to the Regional Office of Reserve Bank of India beyond 30 days from the date of receipt of the amount of consideration.The applicant filed form FC-GPRs for the allotment of shares amounting to ₹11,09,050/- as indicated above and the same were reported beyond 30 days from the date of issue of shares to person resident outside India. | (i) 11,09,058 (ii) 11,09,050 | 21,170 | |
| 1.182 | Infrasoft Technologies Ltd | Apr/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 09 years 05 months 16 days to09 years 05 months 19 days | (i) Failure to obtain certified Form FCTRS at the time of transfer of shares by resident to nonresident | The company is engaged into main actvities such asplan, design, develop, improve, market or otherwise distribute, sell, licence, install, alter, import, export, or otherwise deal in all software, hardware and programme of any kind for use in or in connection with electronic data processing equipment or products or services related to computers and microprocessor based systems, mini and microcomputers based products, mainframe and super computer, electronic and mechanical computer, peripheral equipment and terminal such as intelligent terminal and workstations, speech processing equipment, local and long distance communication networks.The transfer of shares was taken on record by the company without obtaining duly acknowledged / certified form FC-TRS by the AD bank thereby contravening Regulation 4 of Notification No. FEMA 20/ RB-2000 dated May 3, 2000. Form FC-TRS should be submitted to the AD Category – I bank, within 60 days from the date of receipt of the amount of consideration. | 22,741,542 | 342,500 | |
| 1.183 | JBM MA Automotive Private Limited | Apr/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 3 months 6 days to 10 months 13 days | (i) Failure to issue shares to person resident outside India within prescribed time period and Delay in refund of excess money | The company's main activities are 1. To carry on business of manufacturing and selling of pressed welded parts or sub system of four wheeler OEMs including skin panels, body and underbody. 2. To develop and commercialize technologies in the field of pressed and/or welded parts or sub systems of four wheeler. 3. To manufacture, produce, process, design, fabricate, assembly, buy, sell, trade, import, export and deal in products or products, commodities, raw material, blanks, hardware, stores, tools, dies, jigs, fixtures, moulds, gauges, plants and machineries used in the manufacturing of items stated above whether in India or abroad and to offer technical consultancies services and training to manufacture commodities, machinery or equipments of the type manufactured by the company. 4. To carry on all or any of the aforesaid activities directly or indirectly or through the joint venture company promoted for the purpose.The applicant received inward remittances amounting to Rs.30,44,96,000/- (Rupees Thirty Crore Forty Four Lakh Ninety Six Thousand only), and allotted equity shares. The company allotted shares after 180 days of receipt of investment | 304,496,000 | 1,179,360 | |
| 1.184 | Tangerine Developers Private Limited | Apr/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 3 months 6 days to 10 months 13 days | (i) Failure to issue shares to person resident outside India within prescribed time period and Delay in refund of excess money | The company main activities are 1. To carry on business in or outside India for land purchase and sale, land development, construction works and that of builders, developers, contractors or all kinds of works viz. Roads, bridge, buildings industrial/residential/commercial or other factories, factory shades, industrial complexes, construct, erect, build, repair, remodel, demolish, develop, improve, grades, curve, pave, macadamize, cement and maintain building structures, houses, apartments, hospitals, clubs, holiday resorts, schools, places of worships, highways, roads, paths, streets, sideways, courts, alleys, pavements and to do other similar constructions, levelling of paving work, and for these purposes to purchase, take on lease, or otherwise acquire and hold any lands and prepare layout thereon or building of any tenure or buildings of any tenure or description wherever situated, or rights or interests therein or connected therewith works of all types, land developments and/or of soil investigation and contractor of Central public works department, state public works department, other government bodies or semi –Government bodies or civil bodies. 2. To carry on the business of builders and general construction contractors and own, sell, acquire, process, develop, construct, demolish, enlarge, rebuild, renovate, decorate, repair, maintain, let out, hire, lease, rent, pledge, mortgage or otherwise deal in construction of all description like land, building, flats, shops, commercial, educational and non-commercial complex, houses and immovable properties of any tenure and any interest therein, hotels, cinema houses, auditoriums, gallery, club houses, roads, body building, airports, tower platforms, highways, tunnels, pipelines, hospitals, nursing homes, clinics, godowns, warehouses, factories, colleges, schools, townships, freeholds and lease hols grounds and land developing properties in general and to purchase, take on lease, acquire in exchange or otherwise own, hold, occupy, manage, control, construct, erect, alter, develop, pull down improve, repair improve, renovate, work, build, plan,layout, sell, transfer, mortgage, charge, assign, let out, hire, sub-let, sub-lease all types of lands, plots, buildings, bungalows, quarters, offices, flats, chawls, slums warehouses, godowns, shops, stalls, market, houses, structure undertakings, constructions tenements , roads, bridges, forests, estates, assets and properties, movable or immovable freehold or leasehold of whatever nature and description and where situate.The applicant received inward remittances. The company refunded share application money with delay beyond 180 days from the date of receipt of the inward remittance. | 222,500,000 | 2,098,125 | |
| 1.185 | Worley Parsons Engineering Private Limited | Apr/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 3 years 1 months 16 days to 3 years 7 months 22 days (ii) 1 years 3 months 3 days to 1 years 10 months 14 days | (i) neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India within 180 days of the receipt of the inward remittance (ii)delay in reporting receipt of foreign inward remittance towards subscription to equity | The company is engaged in main activities are to carry on the business as consultants and advisers in all branches of engineering such as petroleum, chemical, nuclear, mechanical, instrumentation, electrical, civil, structural, architectural, metallurgical, environmental, geological, aeronautical, hydraulic, mining, surveying, computer programming, electronic and all other engineering specialties and related activities for (i) Chemical, petro- chemical, fertilizer, pharmaceutical, pesticides, textile, food processing and other industrial and manufacturing works, (ii) Extraction, transportation and refining of oil and natural gas, (iii) Fossil fuel and nuclear powered generating stations, nuclear reactor installations for non-generation of power and nuclear related plants, diesel generating stations and other generating plants for electrical power and transmission of electrical power (iv) The development of natural water resources for hydroelectric power, irrigation and flood control (v) The development power from solar, wind, geothermal, tidal, ocean thermal gradient and other natural sources of energies, (vi) Mining, processing of minerals, reduction and refining of ores to metals and alloys, (vii) Docks, harbour and soil conversation works (viii) Work required by utilities, municipal services and public works including dams and reservoirs for water supply, filtration treatment and disposal of sewage, collection and disposal of refuge, roads, railways and bridges, housing complexes and all associated works. (ix) Communication systems of all kinds. The applicant received foreign inward remittance from froeign investors and reported to RBI. The applicant reported receipt of remittances to the Reserve Bank of India beyond 30 days from the date of receipt of the amount of consideration. Further,the company refunded the amount after 180 days of receipt of investment | (i) 518,15,633 (ii) 518,15,633 | 638,306 | |
| 1.186 | Sanghvi Beauty & Technologies Private Limited | Apr/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 03 days | (i) delay in submission of Form FCGPRs to the Reserve Bank | The applicant company was originally incorporated on August 12, 2015, under the Companies Act, 2013, as Sanghvi Technologies Private Limited. The name of the company was changed to Sanghvi Beauty & Technologies Private Limited on January 31, 2017. The company allotted equity shares/preference shares/convertible preference shares and filed FC-GPR with a delay of 03 days | 35,140 | 10,080 | |
| 1.187 | Sapience Analytics Private Limited | Apr/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 11 days to 12 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity | The applicant company was originally incorporated on December 12, 2008, under the Companies Act, 1956, as Innovizetech Software Private Limited. The name of the company was changed to Sapience Analytics Private Limited on August 08, 2012. Its main activities are to carry on business of relating to software development The applicant received foreign inward remittances from Mr. Jayesh Arvind Parekh, Singapore and Fresco International Limited, Hong Kong, towards compulsory convertible preference share capital and reported the same to the Reserve Bank of India with a delay ranging from 11 days to 12 days. Total amount received was Rs. 13,71,083.15 | 70,331,180 | 10,160 | |
| 1.188 | M J Biotech Private Limited | Apr/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 4 months 9 days to 3 years 11 months 22 days (ii) 2 days to 6 years 1 months 12 days (iii) 8 days to 1 years 6 months 5 days | (i) Delay in issue of securities (ii) delay in reporting receipt of foreign inward remittances towards subscription to equity (iii) delay in submission of Form FCGPRs to the Reserve Bank | The applicant company was incorporated on June 27, 2002 under the Companies Act, 1956 as Shreya Biotech Private Limited. The name of company was changed to Scigen Biopharma Private Limited on October 5, 2007, thereafter the name was changed to MJ Biotech Private Limited on August 12, 2016 The applicant received foreign inward remittance amounting to Rs. 1,30,30,70,442 and reported the same to the Reserve Bank with a delay ranging from 2 days to 6 years 1 month 12 days The company allotted equity shares/preference shares/convertible preference shares and filed FC-GPRs with a delay ranging from 8 days to 1 year 6 months 5 days In respect of remittances amounting to Rs.1,06,02,27,104, the company allotted shares after 180 days of receipt of investment with a delay ranging from 4 months 9 days to 3 years 11 months 22 days | (i) 1060227104 (ii) 1078791703 (iii) 1277338918 | 12,962,533 | |
| 1.189 | Artex Ventures Private Limited | Apr/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 1 years 2 months 11 days to 1 years 2 months 25 days (ii) 1 years 1 months 23 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares | The applicant is a company registered as a private limited company, incorporated on April 22, 2016 under the Companies Act, 1956 with the main object of undertaking the business of holiday homes and other related activities. The applicant received foreign inward remittances towards issue of equity shares amounting to Rs. 15,85,105 and reported same to RBI with a delay ranging from 1 year 2 months 11 days to 1 year 2 months 25 days It allotted equity shares and filed FC GPR with a delay of 1 year 1 months 23 days | (i) 15,85,105 (ii) 15,84,300 | 29,175 | |
| 1.190 | Centor India Agri Private Limited | Apr/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 3 years to 4 months (ii) 2 years 8 months to 1 days (iii) 3 years 6 months to 4 years 1 months | (i) Delay in reporting receipt of inward remittances (ii) Delay in filing of form FC GPR after issue of shares (iii) Credit of share capital to EEFC account | The company Centor India Agri Private Limited was incorporated on April 9, 2013 under the Companies Act 1956. The main objectives of the company is to engage in seed applied services and supporting technologies. IPECO Pty Ltd is an Australian Proprietary Company Limited by shares which held 93.48% of the paid up capital of Centor India Agri Private Ltd. M/s Agritec Pty Ltd. holds 5.59% of paid up capital in Centor India Agri Pvt. Ltd. The applicant accompany, Centor India Agri Pvt Ltd received Rs 97,01,267.70 (Rupees Ninety seven lakhs One Thousand Two Hundred Sixty Seven only) or its equivalent in foreign currency from IPECO and Agritec towards Foreign Direct investment on various dated between 2013 and 2016. However, the receipt of funds were reported to RBI with a delay ranging from 3 years to 4 months. Also form FC GPR was filed with a delay. Also, share capital was credited to EEFC account which was in violation of FEMA 10/2000 | (i) 970126770 (ii) 970126770 (iii) 249135890 | 154,571 | |
| 1.191 | M J Biotech Private Limited | Apr/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security by a Person Resident outside India | (i) 11 years | (i) taking on record the transfer of shares from NRI to NR without RBI approva | The applicant MJ Biotech Pvt Ltd was incorporated under the provisions of the Companies Act 1956 on June 27, 2002. The applicant is engaged in the business of manufacturing, trading, importing and exporting of medicines, drugs, medical preparations and proprietary articles. On October 10, 2006, the Company recorded the transfer of 9999 equity shares at a fair value of Rs.10 held by Mr.Sujit Kumar, NRI to Scigen Limited, Singapore, NR. The transfer of shares by NRI to NR was done without taking approval of RBI. The Company took this transfer of shares on record which is a contravention of Regulation 4 of FEMA 20. | (i) 99990 | 21,000 | |
| 1.192 | Dorma India Private Limited | Apr/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 1 months to 2 months (ii) 2 months to 6 months (iii) 12 years 9 months | (i) the delay in reporting foreign inward remittances (ii) the delay in reporting allotment of shares after receipt of funds to Reserve Bank of India (RBI) (iii) failure to comply with the conditions of Foreign Investment Promotion Board (FIPB) | The applicant, was initially incorporated as Dorma Door Controls India Private Limited on May 08, 1997 under the Companies Act, 1956 and subsequently its name was changed to Dorma India Private Limited (DIPL) on July 09, 2004 DIPL is a wholly-owned subsidiary (‘WOS’) of Dorma Vertrieb International GmbH, Germany which in turn is a subsidiary of Dorma GmbH & Co. KG, Germany. is engaged in the business of manufacturing and marketing automatic doors and related accessories. DIPL received foreign investment amounting to Rs.114,74,81,670/- towards subscription to the equity and redeemable preference shares during the period from July 1997 to April 2011 and reported to RBI with a delay that ranges from one month to two months. It allotted equity shares and filed FCGPR with a delay ranges from two months to six months . Secretariat of Industrial Assistance, Department of Industrial Policy & Promotion, Government of India vide letter No. FC II: 105(97)/1131(96) dated February 13, 1997 granted its approval to Dorma GmbH to set up a WOS in India subject to the condition, as specified in clause no. 7 of the letter, that the WOS proposes to disinvest 20% of its equity to Indian partners after five years and no dividend would be repatriated in the first five years of operation | (i) 1030000000 (ii) 109284400 (iii) 117481670/ | 742,994 | |
| 1.193 | Elliot Prima Resorts Private Limited | Apr/2018 | FDI | FEMA 20/2000-RB | Transfer or Issue of Security to a Person Resident Outside India | (i) 3 months to 9 years 7 months (ii) 1 months to 8 years 8 months (iii) 7 months to 3 years 8 months | (i) delay in issue of equity shares beyond the stipulated time period (ii) delay in filing of form FCGPR beyond the stipulated time period (iii) delay in refund of excess share application money | The applicant, a resident company, was incorporated as Elliot Prima Resorts Private Limited on December 16, 2004 under the Companies Act, 1956.The applicant is wholly owned by Elliot Resorts Limited (formerly Elliot Investments), Mauritius, and is engaged in the hospitality sector within India The applicant received foreign inward remittance for issue if equity shares. Allotment of equity shares was done with a delay beyond the stipulated time period of 180 days. The reporting in Form-FCGPR was thus done with a delay beyond the stipulated time period of 30 days and excess share application money was refunded beyond stipulated time of 180 days | (i) 8447724433 (ii) 104817162 (iii) 65611470 | 869,798 | |
| 1.194 | J K Enviro Tech Limited | May/2018 | ODI | FEMA 120/RB-2004 | disinvestment of entire stake in the equity of overseas wholly owned subsidiary (WOS) within one year | 9 months | disinvestment of entire stake in the equity of overseas wholly owned subsidiary (WOS) within one year of initial equity investment without prior approval from the Reserve Bank of India | The applicant company’s main objects relate to business of establishing, operating and maintaining lime kilns for environment protection and undertaking projects for ecological up-gradation in the field of pollution control filtration, among others. one of the conditions to be fulfilled by an Indian party that has made a direct investment (ODI) in an overseas entity, to be able to transfer by way of sale of foreign security to another eligible Indian party or to a person resident outside India - under automatic route; is that such overseas entity should have been in operation for at least one full year from the date of initial ODI by such Indian party. Thus, prior permission from Reserve Bank was necessary in this case as the applicant company (JKETL) intended to disinvest (by transfer of its entire stake) within one year of its initial ODI in the equity of the overseas entity (JKPISPL – formerly named HISPL). | 175,368,600 | 58,768 | |
| 1.195 | Dynemic Products Private Limited | May/2018 | ODI | FEMA 120/RB-2004 | Delay in reporting | (i) more than 11 years in each of the 2 cae. (ii) 11 years 1 months and 10 years 10 months repectively. (iii) which i more than 8 years in each of the 2 cae. (iv) 8 years 1 months | (i) ODI may be funded out of one or more of the permitted sources which include drawal of foreign exchange from an authorised dealer in India; use of traveler’s cheques is not a permitted method for the purpose of ODI. (ii) Indian Party making further financial commitment under ODI is required to submit duly completed Form ODI – Part I, within stipulated time period, to the designated authorised dealer branch for that UIN; (iii) an eligible Indian Party may transfer, by way of sale any share or security held by it in a joint venture (JV) or WOS outside India under automatic route; disinvestment proceeds were received in the form of cash and other physical asset, without routing the transaction through a designated authorised dealer. (iv) an Indian Party having made ODI in a JV/WOS – whose shares are not listed on the stock exchange, shall be able to disinvest, under automatic route, after submission of a certificate indicating the fair value of the shares based on the latest audited financial statements of the JV/ WOS, as certified by a Chartered Accountant /Certified Public Accountant; the applicant submitted a fair valuation certificate on October 16, 2016 after a long delay since the disinvestment had already been carried in November 2009. | The applicant company is engaged in the business of manufacturing, trading (including exporting – importing), dealing in dyes, dyes intermediates, organic and inorganic chemicals, fine chemicals, orgo-chemicals, alum chemicals, among others. The applicant company (DPL) had set up a wholly owned subsidiary. Subsequently, DPL had made further outward remittances to the WOS, including two remittances of USD 4,000.00 and USD 500.00 (on February 16, 2006 and May 08, 2006 respectively) which were made by way of purchase of foreign currency (Traveler’s Cheques) from a full-fledged money changer (FFMC), to be handed over to an employee recruited and based in the US. These two amounts - used towards certain incorporation expenses, were treated as loan to the WOS. The prescribed forms for reporting the two above-mentioned remittances were not submitted within the stipulated time limit. 2.3 The WOS was liquidated in November 2009 resulting in a disinvestment of ODI which involved write-off of a major component of equity investment and other receivables (loan) of DPL from the WOS. The disinvestment was carried out without submission of a valuation certificate. Also, some proceeds from disinvestment were received in the form of cash and physical asset (laptop) | (i) USD 400000 (INR 17730000) and USD 50000 (INR 2250000) (ii) USD 400000 (INR 17730000 ) and USD 50000 (INR 2250000) (iii) USD 260000 (INR 12604800 ) and USD 202178 (INR 9451821) (iv) USD 6487800 (INR 303184700) | 207,772 | |
| 1.196 | R Ramanujam | May/2018 | ODI | FEMA 120/RB-2004 | contravention of the provisions of the Foreign Exchange Management Act, 1999 (the FEMA) and the regulations issued there under. | (i) 3 years and 2 months (ii) 2 years and 8 months (iii) 1 years and 8 months (iv) 2 years and 8 months Iue 5 1 years and 8 months Iue 6 2 years and 9 months | (i) Overseas Direct Investment (ODI) by a resident individual at a time when the same was not permitted under the then applicable FEMA regulations (ii) transfer of securities held in an overseas entity by a resident Indian which the applicant was not permitted to acquire/hold in the first place (iii) delay in reporting the investment in the overseas JV (iv) holding the investment in an overseas JV other than an operating entity (v) disinvestment of the stake in the overseas JV in a manner other than the prescribed routes (vi) delay in reporting the disinvestment of the stake in the overseas JV (vii) delay in submission of the Annual Performance Reports (APRs) for the years ending March 31, 2008 to March 31, 2016 (i.e. 9 years), | The relevant facts of the case are as follows: Mr. R Ramanujam, the applicant, a resident Indian, remitted an amount of Singapore Dollars (SGD) 116,800 (Rs.39,30,320/-) on June 10, 2010, to an overseas joint-venture (JV) in Singapore, The remittance for the overseas investment was sent under Liberalized Remittance Scheme (LRS), which then was not permitted. Further, the overseas JV was not an operating entity whereas the overseas direct investment by resident individuals was permitted only in operating entity with effect from August 05, 2013. Holding the investments in an overseas JV other than an operating entity on or after August 05, 2013 was in contravention of para A (6) of schedule V read with regulation 20A of FEMA 120/2004-RB. There was also a delay in reporting overseas investment. Mr. R. Ramanujam gifted the entire holding of 116,800 shares to his son Mr. Sumanth Ramanujam. Thus applicant disinvested his stake in the overseas entity in favor of his son without prior approval of the Reserve Bank and before the allotment of UIN. The applicant transferred the shares which he was not permitted to acquire or hold in the first place as per the then applicable FEMA regulations. Further, the disinvestment was done by way of gift and was reported with delay through the AD bank on December 18, 2017, which were in contravention of para C (1) and D (4) of schedule V read with regulation 20A of FEMA 120/2004-RB. The applicant also delayed in filing the Annual Performance Reports in form APR with the RBI in respect of the overseas entity for the years ended March 31, 2008 to March 31, 2016 (i.e. 9 years) beyond the prescribed period in contravention of regulation 15(iii) of Notification No. FEMA 120/2004-RB dated July 7, 2004. | 3,930,320 | 325,239 | |
| 1.197 | Prema Ramanujam | May/2018 | ODI | FEMA 120/RB-2004 | compounding of contraventions of the provisions of the Foreign Exchange Management Act, 1999 (the FEMA) and the regulations issued there under | (i) 5 years and 10 months (ii) 1 years (iii) 3 years and 8 months (iv) 4 years and 2 months Iue 5 8 months | (i) Overseas Direct Investment (ODI) by a resident individual at a time when the same was not permitted under the then applicable FEMA regulations (ii) transfer of securities held in an overseas entity by a resident Indian which the applicant was not permitted to acquire/hold in the first place (iii) delay in reporting the investment in the overseas JV (iv) holding the investment in an overseas JV other than an operating entity (v) delay in reporting the disinvestment of the stake in the overseas JV (vi) delay in submission of the Annual Performance Reports (APRs) | The relevant facts of the case are as follows: Ms. Prema Ramanujam, the applicant, a resident Indian, remitted an amount of Singapore Dollars (SGD) 116,800 (Rs.31,63,528/-) on October 19, 2007, to an overseas joint-venture (JV) in Singapore. The remittance was sent under Liberalized Remittance Scheme (LRS), when the applicant was not permitted to undertake overseas direct investment under LRS. Overseas Direct Investment by resident individuals was permitted vide Notification No. FEMA.263/RB-2013 dated March 5, 2013, effective from August 5, 2013 (date of notification in the Gazette), which was an amendment to Notification No. FEMA 120/2004-RB. The investment was thus in contravention of regulation 5(1) of FEMA 120/2004-RB. Further, the overseas JV was not an operating entity whereas the overseas direct investment by resident individuals was permitted only in operating entity. Holding the investments in an overseas JV other than an operating entity on or after August 05, 2013 was in contravention of para A (6) of schedule V read with regulation 20A of FEMA 120/2004-RB. The investment in the overseas JV was reported on October 05, 2017. The delay in reporting was in contravention of para D (1) of schedule V | (i) 31,63,528 (ii) 10,28,59,679 (iii) 31,63,528 (iv) 31,63,528 (v) 10,28,59,679 | 50,559,190 | |
| 1.198 | Sumanth Ramanujam | May/2018 | ODI | FEMA 120/RB-2004 | compounding of contraventions of the provisions of the Foreign Exchange Management Act, 1999 (the FEMA) and the regulations issued there under | (i) 5 years and 10 months (ii) 1 years (iii) 3 years and 8 months (iv) 4 years and 2 months Iue 5 8 months | (i) Overseas Direct Investment (ODI) by a resident individual at a time when the same was not permitted under the then applicable FEMA regulations (ii) transfer of securities held in an overseas entity by a resident Indian which the applicant was not permitted to acquire/hold in the first place (iii) delay in reporting the investment in the overseas JV (iv) holding the investment in an overseas JV other than an operating entity (v) delay in reporting the disinvestment of the stake in the overseas JV (vi) delay in submission of the Annual Performance Reports (APRs) | The relevant facts of the case are as follows: Shri Sumanth Ramanujam, the applicant, a resident Indian, remitted an amount of Singapore Dollars (SGD) 116,800 (Rs.31,59,440/-), on October 19, 2007, to an overseas joint-venture (JV) in Singapore, The remittance was sent under Liberalized Remittance Scheme (LRS), when the applicant was not permitted to undertake overseas direct investment under LRS. Overseas Direct Investment by resident individuals was permitted vide Notification No. FEMA.263/RB-2013 dated March 5, 2013, effective from August 5, 2013 (date of notification in the Gazette), which was an amendment to Notification No. FEMA 120/2004-RB. The investment was thus in contravention of regulation 5(1) of FEMA 120/2004-RB. Further, the overseas JV was not an operating entity whereas the overseas direct investment by resident individuals was permitted only in operating entity. Holding the investments in an overseas JV other than an operating entity on or after August 05, 2013 was in contravention of para A (6) of schedule V read with regulation 20A of FEMA 120/2004-RB. The investment in the overseas JV was reported on October 05, 2017. The delay in reporting was in contravention of para D (1) of schedule V | (i) 31,59,440 (ii) 20,57,19,358 (iii) 31,59,440 (iv) 31,59,440 (v) 20,57,19,358 | 114,316,108 | |
| 1.199 | Shapoorji Pallonji And Company Private Limited | May/2018 | ODI | FEMA 120/RB-2004 | contravention of paragraph 6(2)(ii) of Foreign Exchange Management (Transfer or Issue of Any Foreign Security) Regulations, 2004 | 3 years and 5 months | non utilisation of funds remitted for the purpose of investment in proposed JV together with nonrepatriation of the funds back | During 2005-06, Shapoorji Pallonji and Company Private Ltd (the company) was executing a contract in Bangladesh for construction of the Canadian Chancery / High Commission complex in Dhaka under a project export approval of Exim Bank, Mumbai. On the basis of this project, the company planned to set up a JV with a local partner to explore and develop business prospects in Bangladesh. Accordingly, the company remitted a total of USD 182,775 equivalent to INR 81,72,690 from January 2006 to March 2006 to the credit of the foreign currency account maintained in connection with the Canadian Chancery project for the purpose of ultimately investing in the JV. At about this time the political environment in Bangladesh underwent a drastic change for the worse resulting in political turmoil and uncertainty. This prompted the company to review its plans and it was decided to abandon the move to set up the JV. The company sought to repatriate back the funds but faced problems of rigid and inconvenient rules and regulations in respect foreign exchange as well as obstruction problems from the Bangladesh partner. Faced with the risk of total loss of the funds and write off, the company decided to utilise the funds in the execution of their existing project. This has been deemed to be diversion of remittance from original purpose and utilisation in a non-bonafide business in violation of Regulation 6(2)(ii) of Notification No FEMA 120-RB 2004 as amended from time to time. The fact of utilisation of remitted funds in this manner was reported to RBI in August 2009 with a request to cancel the UIN. | 8,172,690 | 103,122 | |
| 1.200 | Reno Mercantile Private Limited | May/2018 | ODI | FEMA 120/RB-2004 | contravention of Regulations 6(2)(i) read with 2(o) and 6(2)(vi) of Foreign Exchange Management (Transfer or Issue of any Foreign Security) Regulations, 2004 | (i) 3 months (ii) 9 months | (i) making an overseas investment in excess of 400% of net worth (ii) delay in submission of Form ODI Part I beyond the stipulated time period | It is engaged in the business of providing back office support for supply chain for companies in India and abroad. The applicant acquired the stake in M/s Vikasa Pte Ltd, Singapore, from Shri Sumanth Ramanujam and Ms. Prema Ramanujam, on 29.03.2017, for USD 4,728,998 (Rs. 30,85,79,037/-), when its net worth was only Rs. 0.93 crores. Overseas investment in excess of 400% of net worth by the applicant was in contravention of Regulation 6(2)(i) read with 2(o) of FEMA 120. After infusion of capital from its shareholders namely Shri Aditya Srikanth Ramanujam and M/s Rohini Holdings Private Limited, the investment came within 400% of net-worth as on 15.06.2017. The applicant further delayed in submission of Form ODI Part I, in contravention of Regulation 6(2)(vi) of FEMA 120. The Form ODI Part I was submitted on January 10, 2018. | (i) 271379037 (ii) 308579037 | 1,491,895 | |
| 1.201 | M&C Saatchi Communications Private Limited | May/2018 | ECB | FEMA 3/2000-RB | contravention of Regulation 6(1) read with Paragraphs 1(i), (iv), (xi) and (xii) of Schedule I of Foreign Exchange Management (Borrowing and Lending in Foreign Exchange) Regulations, 2000 notified vide Notification No. FEMA 3/2000-RB | 10 months to 10 years | expenditure occurred by group companies on behalf of the applicant, not paid within the stipulated time period | It is engaged in the business of advertising. M&C Saatchi PLC, UK and other group companies incurred some expenditure on behalf of the applicant: The applicant could not pay the dues to the group companies due to liquidity concerns. As the dues remained outstanding for a period exceeding three years, these were in the nature of deemed ECB. The applicant was not eligible to raise ECB as companies engaged in the business of providing consultancy services were not permitted to undertake ECB under automatic route. The applicant thereby contravened Para 1(i) of Schedule I to Regulation 6(1) of Notification No. FEMA 3/2000-RB. The end use of ECB loan was not a permitted end-use which is in contravention of Para 1(iv) of Schedule I to Regulation 6(1) of Notification No. FEMA 3/2000-RB. The funds were drawn without obtaining Loan Registration number (LRN) from RBI which is in contravention of Para 1(xi) of Schedule I to Regulation 6(1) of Notification No. FEMA 3/2000-RB. The applicant did not adhere to reporting requirement, thereby contravening Para 1(xii) of Schedule I to Regulation 6(1) of Notification No. FEMA 3/2000-RB. | 5,405,831,444 | 439,600 | |
| 1.202 | Bennett Broadcasting And Distribution Services Limited | May/2018 | ODI | FEMA 120/RB-2004 | contravention of Regulation 15(ii) of Foreign Exchange Management (Transfer or Issue of any Foreign Security) Regulations, 2004 notified vide Notification No. FEMA 120/2004- RB | 2 years 5 months | nonrepatriation of all dues receivable from foreign entity within the stipulated time period | the applicant had receivables due from the WOS amounting to Rs. 6,23,53,909/-. Due to poor financial position on account of continuing operational losses incurred since inception and due to lack of business viability in the foreseeable future, the WOS intimated the applicant of its inability to pay the outstanding dues. The applicant thus filed an application with the RBI seeking its approval for disinvestment by way of liquidation, involving write-off of financial commitment and other dues. RBI issued a No-objection certificate for disinvestment by way of liquidation, dated July 21, 2017, subject to compounding of contravention of Regulation 15(ii) for dues outstanding beyond a period of 60 days. | 62,353,909 | 424,123 | |
| 1.203 | S Zhaveri Pharmakem Private Limited | May/2018 | FDI | FEMA 20/2000-RB | contraventions of the provisions of the Foreign Exchange Management Act, 1999 (the FEMA) and the regulations issued there under | (i) 8 days (ii) 1 months (iii) 1 months to 5 months | (i) parking of FDI proceeds in EEFC account, (ii) delay in reporting receipt of funds for issue of shares (iii) delay in filing of form FCGPR beyond the stipulated time period | The applicant is engaged in the business of commission and indenting agents and importers and exporters of pharmaceuticals raw materials, specialty chemicals etc. The applicant received share application money of Rs. 5,42,85,000/- on 19.12.2012 and parked this amount in the EEFC account till 26.12.2012, after which it was utilized for import payment/ foreign currency expenditure. Parking of FDI proceeds in the EEFC account was in contravention Paragraph 2 to Schedule I read with Regulation 4 of FEMA 10. The applicant delayed in reporting inward remittance, in contravention of Paragraph 9(1)(A) of Schedule I of Notification No. FEMA 20/2000-RB. Furthermore, there was a delay in filing Form FC-GPR, in contravention of Paragraph 9(1)(B) of Schedule I of Notification No. FEMA 20/2000-RB | (i) 54285000 (ii) 94455900 (iii) 97328065 | 348,717 | |
| 1.204 | Panacea Publishing Private Limited | May/2018 | FDI | FEMA 20/2000-RB | contravention of Regulation 3 of Foreign Exchange Management (Transfer or Issue of Security By a Person Resident Outside India) Regulations, 2000 notified vide Notification No. FEMA 20/2000-RB | 1 years 13 days. | transfer of shares of a company engaged in a sector under approval route, between two nonresidents, without prior Government approval. | The applicant company is engaged in the business of print media, publication of magazines, etc., an activity under the Government approval route. The applicant issued 1,00,000 equity shares of face value Rs.10 to PPIL. PPIL transferred its shareholding in the applicant of the said 1,00,000 equity shares to Panacea Media Limited, U.K., a Non-Resident without prior approval of Government. Transfer of shares without obtaining Government approval was a contravention of Regulation 3 of FEMA 20. Post facto approval for transfer of the said 1,00,000 equity shares from NR to NR was given by FIPB (Ministry of Finance, Government of India) vide its approval dated May 29, 2017, subject to the applicant applying for compounding from the date of transfer of shares (May 16, 2016) till the date of the FIPB approval (May 29, 2017). | 1,000,000 | 55,500 | |
| 1.205 | Rahul Saraf | May/2018 | FDI | FEMA 20/2000-RB | contravention of para 10 of schedule 1 and regulation 10(A)(b)(i) read with para 5 of schedule 1 respectively of Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 notified vide Notification No. FEMA 20/2000-RB | (i) 9 years 8 months (ii) 9 years 9 months | (i) delay in reporting transfer of shares in Form FCTRS (ii) transfer of shares to a person resident outside India without obtaining the valuation certificate | It is engaged in the construction and development of a multiplex cum shopping mall in Bhubaneshwar. The applicant failed to report the transfer of the shares in the form FC-TRS within the prescribed time period thereby contravening para 10 of schedule 1 to FEMA 20/2000-RB. The applicant reported transfer of shares with delay in form FC-TRS to the AD bank on March 16, 2017 enclosing therewith a copy of the valuation certificate dated March 10, 2017 from a chartered accountant certifying the fair value of the shares as on June 14, 2007. It is apparent that the shares were transferred by the applicant to a person resident outside India without obtaining valuation duly certified by a chartered accountant which was in contravention of regulation 10(A)(b)(i) read with para 5 of schedule 1 to FEMA 20/2000-RB. In terms of para 10 of schedule 1 to FEMA 20/2000-RB ‘In case of transfer of shares or convertible debentures or warrants of an Indian company by way of sale from a person resident in India to a person resident outside India or vice versa, the transferor / transferee, resident in India, shall submit to the AD bank a report in the form FC-TRS, as specified by the Reserve Bank from time to time, within 60 days from the date of receipt or payment of the amount of consideration. | (i) & 2 16302000 | 665,598 | |
| 1.206 | Astra Specialty Compounds India Private Limited | May/2018 | FDI | FEMA 20/2000-RB | paragraphs 9(1)(A) and 9(1)(B) respectively Schedule 1 to Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 notified, vide Notification No. FEMA 20/2000-RB | (i) 17 to 65 days. (ii) 2 to 63 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The company is engaged in manufacture of other plastic commodities. The applicant reported the receipt of twenty six inward remittances, amounting to ₹ 34,44,57,785/- to the Ahmedabad Regional Office of the Reserve Bank of India. Out of twenty six inflows ten inflows amounting to ₹14,11,26,514/- were reported with a delay ranging from 17 to 65 days. Whereas, in terms of paragraph 9 (1) (A) of Schedule 1 to Notification No. FEMA 20/2000-RB, an Indian company issuing shares in accordance with these Regulations should report to the Reserve Bank of India as per the prescribed procedure not later than 30 days from the date of receipt of the amount of consideration. an Indian company issuing shares in accordance with these Regulations has to submit to the Reserve Bank of India a report in form FC-GPR, along with documents prescribed therein, within 30 days from the date of issue of shares to the overseas investor. Thus the company stands to contravene the provisions stipulated in Paragraph 9 (1) (B) of Schedule 1 to Notification No. FEMA 20/2000- RB | (i) 141126514 (ii) 144493800 | 111,505 | |
| 1.207 | Jurimatrix Services India Private Limited | May/2018 | FDI | FEMA 20/2000-RB | Regulation 4 of Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000, notified vide Notification No. FEMA 20/2000-RB dated May 03, 2000, and Regulation 10 A (b) (i) read with Paragraph 10 of Schedule 1 to Notification No. FEMA 20/2000-RB | (i) 4 years 8 months and 11 days to 6 years 2 months and twenty 3 days (ii) 2 months and 15 days to 5 months and 9 days | (i) taking on record in its books by the applicant without prior approval, the transfer of shares by Resident to NonResident (ii) delay in reporting the transfer of shares by Resident to NonResident | The company is engaged in offering and undertaking professional services in India and abroad in the areas of legal compliances, statutory and regulatory compliances, etc. The applicant had taken on record, the transfer of shares, which are indicated in the Table 1 above, in the books of the company without obtaining Form FC-TRS duly acknowledged / certified by the Authorised Dealer Bank, whereas in terms of Regulation 4 of Notification No. FEMA 20/2000- RB dated May 3, 2000, an Indian entity shall not issue any security to a person resident outside India or shall not record in its books any transfer of security from or to such a person, provided that the Reserve Bank may, on an application made to it and for sufficient reasons, permit an entity to issue any security to a person resident outside India or to record in its books, transfer of security from or to such person, subject to such conditions as may be considered necessary. The applicant had filed Form FC-TRS with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank, with a delay ranging from two months and fifteen days to five months and nine days , beyond the prescribed period of 60 days from the date of receipt of amount of consideration | (i) 774093970 (ii) 444126500 | 124,450 | |
| 1.208 | Mintm Mediatech Private Limited | May/2018 | FDI | FEMA 20/2000-RB | delay in refund of share application money | 10 months and 7teen days | delay in refund of share application money to the foreign investors, persons resident outside India, | The company had received an inward remittance of Rs.6,04,260.88 on April 30, 2016, from the non-resident investor, M/s Paragon Global LLC, USA, and allotted one equity share and 121 Compulsorily Convertible Preference shares for total consideration of Rs.6,00,240.00. The excess share application money of Rs.4,020.88, was refunded to the investor with a delay beyond the stipulated period of 180 days from the date of receipt of the inward remittance | 402,088 | 350 | |
| 1.209 | Kern-Liebers (India) Private Limited | May/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 7 days to 9 years, 1 months and 7teen days | delay in reporting receipt of foreign inward remittances towards subscription to equity | The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank, with a delay ranging from seven days to nine years, one month and seventeen days , beyond the stipulated time of 30 days. | 65,996,977,541 | 625,620 | |
| 1.210 | VTS TF Air Systems Private Limited | May/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 22 days to 3 years, 9 months and 5 days | delay in reporting receipt of foreign inward remittances towards subscription to equity | The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank, with a delay ranging from seven days to nine years, one month and seventeen days , beyond the stipulated time of 30 days. | 19,925,060,000 | 414,950 | |
| 1.211 | Tenshi Life Sciences Private Limited | May/2018 | FDI | FEMA 20/2000-RB | Delay in refund of share application money | 7 months and 4 days | delay in refund of excess share application money to the foreign investors, persons resident outside India | The company had received an inward remittance of Rs.33,00,23,364.49 on November 18, 2016, from the non-resident investor, M/s Blue Oceans FZE, UAE, and allotted 11,00,000 equity shares for a total consideration of Rs.33,00,00,000.00. The excess share application money of Rs.23,364.49, was refunded to the investor with a delay beyond the stipulated period, on December 21, 2017, with prior approval from Reserve Bank of India, vide its letter FE.BG.FID.No.2248/21.10.228/2017-18 dated December 12, 2017. Whereas, in terms of paragraph 8 of Schedule 1 to Notification No.FEMA20/2000-RB, read with A.P. (DIR Series) Circular No.20 dated December 14, 2007, if the shares are not issued within 180 days from the date of receipt of the inward remittance, the amount of consideration so received shall be refunded to the person concerned, provided the Reserve Bank may, on an application made to it and for sufficient reasons permit to refund the amount of consideration received towards issue of security. | 2,336,449 | 1,400 | |
| 1.212 | Advisual Technology India Private Limited | May/2018 | FDI | FEMA 20/2000-RB | Delay in refund of share application money | 3 years, 4 months and 27 days | delay in refund of excess share application money to the foreign investors, persons resident outside India | The company had received inward remittance of Rs.4,00,000.00, on November 29, 2012, from the non-resident investor, Mr. Rashed A Wahab Ibrahi, Galadari, Dubai. The entire share application money of Rs.4,00,000.00, was refunded to the investor with a delay beyond stipulated period, on October 25, 2016, with prior approval from the Reserve Bank of India. The company was given the approval to refund the share application money of Rs.4,00,000.00, vide Reserve Bank’s letter FE.BG.FID.No.1230/21.09.186/ 2016-17 dated August 30, 2016. Whereas, in terms of paragraph 8 of Schedule 1 to Notification No.FEMA20/2000-RB, if the shares are not issued within 180 days from the date of receipt of the inward remittance, the amount of consideration so received shall be refunded to the person concerned, provided the Reserve Bank may, on an application made to it and for sufficient reasons, permit to refund the amount of consideration received towards issue of security. Further, in terms of paragraph 5 of A.P. (DIR Series) Circular No.20 dated December 14, 2007, in all cases where, as on November 28, 2007, 180 days have elapsed since receipt of funds and the equity instruments have not been issued, the companies are required to approach the Foreign Exchange Department of the Regional Office concerned of Reserve Bank through their AD Category – I bank with a definite action plan either for allotment of equity instruments or for refund of the advance, with full details, for specific approval. | 400,000 | 31,800 | |
| 1.213 | Asset Trackr Private Limited | May/2018 | FDI | FEMA 20/2000-RB | Delay in reporting / Delay in submission | (i) 3 months and 29 days (ii) 3 years 2 months and 2 days to 3 years 10 months and 11 days (iii) 2 months and 1 days to 4 months and 27 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) refund of excess share application money to the foreign investors, beyond the prescribed period of 180 days from the date receipt of the inward remittances, (iii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank with a delay ranging from four days to three months and twenty nine days , beyond the stipulated period of 30 days. The company was given approval to refund the total excess share application money of Rs.13,391.46, to the non-resident investors, vide Reserve Bank’s letter FE.BG.FID.No.3223/21.08.929/2017-18 dated February 23, 2018. Whereas, in terms of paragraph 8 of Schedule 1 to Notification No. FEMA 20/2000- RB, dated May 3, 2000, read with A.P. (DIR Series) Circular No. 20 dated December 14, 2007, the excess amount need to be refunded within 180 days from the date of receipt of inward remittance. The applicant filed the Form FC-GPRs, on allotment of shares, with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank, with a delay ranging from two months and one day to four months and twenty seven days , beyond the prescribed period of 30 days | (i) 787137443 (ii) 1339146 (iii) 1334730300 | 31,280 | |
| 1.214 | IAcharaya Silicon Limited | May/2018 | FDI | FEMA 20/2000-RB | Delay in allotment / Delay in submission | (i) 2 years 8 months (ii) 1 years 13 days | (i) delay in submission of Form FCGPR on allotment of shares with Reserve Bank (ii) delay in allotment of shares | The applicant filed form FC-GPR as indicated above with delay of two years eight months beyond the prescribed limit in respect of allotment. Whereas in terms of paragraph 9 (1) B of Schedule I to Notification No. FEMA 20/2000-RB, an Indian company issuing shares in accordance with these Regulations has to submit to Reserve Bank a report in Form FC-GPR along with documents prescribed therein within 30 days from the date of issue of shares to person resident outside India. The company allotted shares with delay of one year 13 days beyond the prescribed period of 180 days without prior approval of Reserve Bank. Whereas in terms of paragraph 8 of Schedule I to Notification No. FEMA 20/2000-RB, read with AP (Dir Series) Circular No.20 dated December 14, 2007 the shares have to be issued/amount refunded within 180 days from the date of receipt of the inward remittance. | (i) 4293000000 (ii) 2145039110 | 274,845 | |
| 1.215 | SEI Adhavan Power Private Limited | May/2018 | FDI | FEMA 20/2000-RB | Delay in submission | 1 months 13 days to 1 years 17 days | delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The applicant filed form FC-GPRs as indicated above with delay ranging from one month 13 days to one year 17 days beyond the prescribed limit in respect of the allotments. Whereas in terms of paragraph 9 (1) B of Schedule I to Notification No. FEMA 20/2000-RB, an Indian company issuing shares in accordance with these Regulations has to submit to Reserve Bank a report in Form FC-GPR along with documents prescribed therein within 30 days from the date of issue of shares to person resident outside India. | 349,181,302 | 130,670 | |
| 1.216 | Sibelco India Minerals Private Limited | May/2018 | FDI | FEMA 20/2000-RB | Delay in submission | 1 years 2 months 26 days | delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The applicant filed form FC-GPRs as indicated above with delay ranging from one month 13 days to one year 17 days beyond the prescribed limit in respect of the allotments. Whereas in terms of paragraph 9 (1) B of Schedule I to Notification No. FEMA 20/2000-RB, an Indian company issuing shares in accordance with these Regulations has to submit to Reserve Bank a report in Form FC-GPR along with documents prescribed therein within 30 days from the date of issue of shares to person resident outside India. | 540,000,000 | 202,500 | |
| 1.217 | Waterhealth India Private Limited | May/2018 | FDI | FEMA 20/2000-RB | Delay in submission / reporting | (i) 1 days to 1 years 9 months 20 days (ii) 3 days to 4 months 24 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | The applicant received the foreign inward remittances and the same were reported to Reserve Bank of India, delays ranging from 1 day to 1 year 9 months 20 days beyond the prescribed period of 30 daysWhereas in terms of Paragraph 9(1)(A) of Schedule 1 to Notification No. FEMA 20/2000-RB, an Indian company issuing shares or convertible debentures in accordance with these Regulations should report to the Reserve Bank of India as per the prescribed procedure not later than 30 days from the date of receipt of the amount of consideration. The applicant filed form FCGPRs for issue of shares were reported with delays ranging from 3 days to 4 months 24 days beyond the stipulated period of 30 days. | (i) 37,62,55,772.97 (ii) 122,83,514.60 | 399,953 | |
| 1.218 | ProcessMAP India Private Limited | May/2018 | FDI | FEMA 20/2000-RB | Delay in submission / reporting | (i) 3 months 8 days to 5 months 11 days (ii) 1 days to 1 years 7 months 21 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | The applicant received the foreign inward remittances and the same were reported to Reserve Bank of India, delays ranging from 1 day to 1 year 7 months 21 days beyond the prescribed period of 30 daysWhereas in terms of Paragraph 9(1)(A) of Schedule 1 to Notification No. FEMA 20/2000-RB, an Indian company issuing shares or convertible debentures in accordance with these Regulations should report to the Reserve Bank of India as per the prescribed procedure not later than 30 days from the date of receipt of the amount of consideration. The applicant filed form FCGPRs for issue of shares were reported with delays ranging from 3 days to 4 months 24 days beyond the stipulated period of 30 days. | (i) 3144 (ii) 183,94,820 | 94,817 | |
| 1.219 | Amish Crop Sciences Private Limited | May/2018 | FDI | FEMA 20/2000-RB | Delay in submission / reporting | (i) 4 days to 6 months (ii) 3 months 16 days to 9 months 18 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | The applicant received the foreign inward remittances and the same were reported to Reserve Bank of India, delays ranging from 4 days to 6 months beyond the prescribed period of 30 daysWhereas in terms of Paragraph 9(1)(A) of Schedule 1 to Notification No. FEMA 20/2000-RB, an Indian company issuing shares or convertible debentures in accordance with these Regulations should report to the Reserve Bank of India as per the prescribed procedure not later than 30 days from the date of receipt of the amount of consideration. The applicant filed form FCGPRs for issue of shares were reported with delays ranging from 3 days to 4 months 24 days beyond the stipulated period of 30 days. | (i) 408,68,028 (ii) 456,48,500 | 61,575 | |
| 1.220 | Nippai Shalimar Feeds Private Limited | May/2018 | FDI | FEMA 20/2000-RB | Delay in submission | 1 months to 7 months. | delay in submission of Form FCGPR on allotment of shares with Reserve Bank | Out of eight allocation of shares, delay of 2 days to 188 days has been observed in filing of 6 FC-GPRs. Whereas in terms of para 9(1) B of schedule 1 to FEMA 20/2000-RB, an Indian company issuing shares in accordance with these regulations has to submit to the Reserve Bank of India a report in form FC-GPR along with documents prescribed therein, within 30 days from the date of issue of shares to person resident/ outside India. | 129,850,000 | 85,000 | |
| 1.221 | Strassenburg Pharmaceuticals Ltd. | May/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 years 10 months and 21 days | delay in reporting of transfer of shares of an Indian company from a person resident in India to a person resident outside India within the stipulated period of 60 days of such receipt | The applicant is engaged in the business of manufacture and dealing in all kinds of pharmaceuticals, medical drugs etc. the applicant entered into a share transfer agreement with M/s C.S Cell Technologies Pvt Ltd, a company resident outside India, having registered address at 1, Yishun Industrial Street, A Posh Bizhub 060109, Singapore-768160 to sell 5,85,778 equity shares of the investee company on October 1, 2015 after obtaining prior Government(FIPB) approval on February 26, 2014. The shares were sold to the overseas investor at a price of Rs.68.29 per share, in return for which the applicant received a consideration amount of Rs.4,00,00,000 (Rupees Four Crore only) through banking channel on October 9, 2015. The above transfer of shares was reported to the Reserve Bank with a delay on November 22,2017. Whereas in terms of para 10(A) b (i) read with para 10 of schedule 1 to FEMA 20/2000-RB, the transferor or transferee resident in India has to adhere to the reporting requirements as specified by the Reserve Bank from time to time. | 40,000,000 | 105,833 | |
| 1.222 | Sapient Consulting Private Limited | May/2018 | FDI | FEMA 20/2000-RB | Delay in submission / reporting | (i) 15 years 6 months 27 days to 15 years 8 months 10 days (ii) 15 years 4 months 3 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | The applicant received the foreign inward remittances and the same were reported to Reserve Bank of India, delays ranging from15 years 6 months 27 days to 15 years 8 months 10 days beyond the prescribed period of 30 daysWhereas in terms of Paragraph 9(1)(A) of Schedule 1 to Notification No. FEMA 20/2000-RB, an Indian company issuing shares or convertible debentures in accordance with these Regulations should report to the Reserve Bank of India as per the prescribed procedure not later than 30 days from the date of receipt of the amount of consideration. The applicant filed form FCGPRs for issue of shares were reported with delays ranging from 3 days to 4 months 24 days beyond the stipulated period of 30 days. | (i) 19,00,70,000 (ii) 19,00,70,000 | 3,128,500 | |
| 1.223 | Umg Index Tradefairs Private Limited | May/2018 | FDI | FEMA 20/2000-RB | Contravention of Provision | 5 years 5 months 11 days, | the transfer of shares by resident to nonresident without obtaining certified form FCTRS | Its main activities are to carry on the business of organising specialized Trade Fairs, Exhibitions, Marketing, Sales promotions, Advertising, Publishing, Consultancy, management Services, Market research in the field of furniture, fixtures, hardware tools and any other items, products and services. Mr. Liyakat Ali Khan, Indian Resident and Mrs. Sylvia Khan, Indian Resident sold 3500 equity shares each of UMG Index Tradefairs Private Limited held by them to Stormcliff Limited, Cyprus (Non Resident) vide agreement dated September 28, 2011 and filed form FC-TRS on March 24, 2017. The transfer of shares was taken on record by the company on October 13, 2011, without obtaining duly acknowledged / certified form FC-TRS by the AD bank thereby contravening Regulation 4 of Notification No. FEMA 20/ RB-2000 dated May 3, 2000 as amended from time to time. | 8,150,002 | 285,000 | |
| 1.224 | Sylvia Khan | May/2018 | FDI | FEMA 20/2000-RB | Contravention of Provision | 5 years 3 months 26 days | the transfer of shares by resident to nonresident without obtaining certified form FCTRS | Mrs. Sylvia Khan, Indian Resident sold 3500 equity shares of UMG Index Tradefairs Private Limited held by her to Stormcliff Limited, (Non Resident) Cyprus vide agreement dated September 28, 2011 and filed form FC-TRS on March 24, 2017, thereby contravening the provision of Regulation 10 A (b) (i) read with paragraph 10 of Schedule I to Foreign Exchange Management Regulations, 2000, in terms of which any shares or convertible debentures or warrants of an Indian company under the Foreign Direct Investment Scheme, whose activities fall under Annex B to Schedule 1, shall, subject to sectoral limits specified therein, transfer such shares or convertible debentures or warrants without prior approval of the Reserve Bank if the same is by way of sale, subject to adherence to the pricing guidelines, documentation and reporting requirements for such transfers, stipulated by the Reserve Bank from time to time. | 4,075,001 | 276,500 | |
| 1.225 | Liyakat Ali Khan | May/2018 | FDI | FEMA 20/2000-RB | Contravention of Provision | 5 years 3 months 26 days | the transfer of shares by resident to nonresident without obtaining certified form FCTRS | Mr. Liyakat Ali Khan, Indian Resident sold 3500 equity shares of UMG Index Tradefairs Private Limited held by him to Stormcliff Limited, Cyprus, (Non Resident) vide agreement dated September 28, 2011 and filed form FC-TRS on March 24, 2017, thereby contravening the provision of Regulation 10 A (b) (i) read with paragraph 10 of Schedule I to Foreign Exchange Management Regulations, 2000, in terms of which any shares or convertible debentures or warrants of an Indian company under the Foreign Direct Investment Scheme, whose activities fall under Annex B to Schedule 1, shall, subject to sectoral limits specified therein, transfer such shares or convertible debentures or warrants without prior approval of the Reserve Bank if the same is by way of sale, subject to the adherence to the pricing guidelines, documentation and reporting requirements for such transfers, stipulated by the Reserve Bank from time to time. | 4,075,001 | 276,500 | |
| 1.226 | Finish Services Management Company Private Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 155 to 395 days (ii) 351 days | (i) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India (ii) delay in allotment of Shares beyond stipulated period of 180 days | The company is engaged in remediation activities and other waste management services. The applicant allotted equity shares and filed FC-GPRs with a delay ranging from 155 to 395 days beyond the prescribed timeline of 30 days The applicant has allotted shares / CCPS for the amount of ₹2,19,200/-with a delay of 351 days beyond stipulated period of 180 days without obtaining prior approval from Reserve Bank of India. Whereas, in terms of Para 8 of Schedule 1 to Notification No. FEMA 20/2000-RB, if the shares are not issued within 180 days from the date of receipt of the inward remittance, the amount of consideration so received shall be refunded to the person concerned, provided the Reserve Bank may, on an application made to it and for sufficient reasons permit to refund the amount of consideration received towards issue of security, if such amount is outstanding beyond a period of 180 days from the date of receipt. | (i) 18,72,150 (ii) 219,200 | 51,523 | |
| 1.227 | Vaatsalya Health Care Solutions Private Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 12 days to 3 years and 7 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity | The Company is engaged in the business of establishing, operating and managing hospitals in the field of health sciences / industry in India and Overseas and provide consulting and information related services in this area. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank, with a delay ranging from twelve days to three years and seven days , beyond the stipulated time of 30 days | 63,16,54,955 | 51,524 | |
| 1.228 | Creditaccess Grameen Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 days to 1 years and 11 months (ii) 13 days to 1 years 10 months | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity, (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | The company is engaged in the business of providing financial services and micro finance services (mainly the Non-banking financial services as permitted by Reserve Bank of India). The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank with a delay ranging from one day to one year and eleven months , beyond the stipulated period of 30 days. The applicant filed the Form FC-GPRs, on allotment of shares, with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank, with a delay ranging from thirteen days to one year ten months and twenty six days , beyond the prescribed period of 30 days | (i) 35,840,05,565 (ii) 417,39,99,985 | 51,525 | |
| 1.229 | Enzen Global Solutions Private Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 days to 8 months and 13 days (ii) 5 days to 7 months and 28 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity, (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | The company is engaged in the business of collection and distribution of electric energy to households, industrial, commercial and other users; water collection, treatment and supply; computer consultancy and computer facilities management activities. The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank with a delay ranging from one day to eight months and thirteen days , beyond the stipulated period of 30 days. The applicant filed the Form FC-GPRs, on allotment of shares, with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank, with a delay ranging from five days to seven months and twenty eight days , beyond the prescribed period of 30 days | (i) 19,59,70,140 (ii) 379,26,550 | 51,526 | |
| 1.230 | Youngmonk Technologies Private Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 9 months and 27 days to 9 months and 28 days (ii) 5 days to 9 months and 28 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity, (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | The company is engaged in the business of information technology and computer service activities. The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank beyond the stipulated period of 30 days. The applicant company allotted equity shares and filed Form FC-GPRs with Reserve Bank/AD Bank beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India. | (i) 44,10,00,000 (ii) 47,73,05,992.27 | 51,527 | |
| 1.231 | Instakart Services Private Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 27 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity | The Company is engaged in the business of storage, warehousing, transportation and handling of all kinds of transport services and business of courier and allied services. The applicant had received funds towards share application money from foreign investors. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank beyond the stipulated period of 30 days. | (i) 327,41,50,000 | 51,528 | |
| 1.232 | Sea Funds Management India Private Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 days to 4 months and 24 days (ii) 9 years 10 months and 5 days to 10 years 3 months and 4 days (iii) 2 days to 3 months and 29 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) refund of excess share application money to the foreign investors (iii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | The company is engaged in the business of providing investment advice and equity research services. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank beyond the prescribed period of 30 days from the date of receipt of the amount of consideration The company had allotted equity shares to the foreign investors. the company had neither allotted shares nor refunded the excess share application money within the stipulated period of 180 days. The applicant company allotted equity shares and filed Form FC-GPRs with Reserve Bank/AD with a delay beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India. | (i) 51,09,690.30 (ii) 150,595 (iii) 87,45,950 | 51,529 | |
| 1.233 | Carthero Technologies Private Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 days to 8 months (ii) 5 days to 1 years 4 months and 7 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | The company is a hyperlocal delivery start-up which provides logistics services to merchants, restaurants and e-commerce companies enabling them to deliver orders by connecting with the local delivery feet. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank beyond the prescribed period of 30 days from the date of receipt of the amount of consideration The applicant company allotted equity shares and filed Form FC-GPRs with Reserve Bank/AD with a delay beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India. | (i) 114,36,62,969.11 (ii) 123,71,62,085.60 | 51,530 | |
| 1.234 | Tenax India Stone Products Private Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 7 years and 6teen days (ii) 6 months and 5 days (iii) 2 years 4 months and 25 days to 5 years 11 months and twenty days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) refund of excess share application money to the foreign investors (iii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | The company is engaged in the business of import, export, ex-bonded warehouse sales, wholesale trading in granite and marble processing products. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank beyond the prescribed period of 30 days from the date of receipt of the amount of consideration The company had allotted equity shares to the foreign investors. the company had neither allotted shares nor refunded the excess share application money within the stipulated period of 180 days. The applicant company allotted equity shares and filed Form FC-GPRs with Reserve Bank/AD with a delay beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India. | (i) 5900000 (ii) 5900000 (iii) 6000000 | 51,531 | |
| 1.235 | Flutura Business Solutions Private Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 4 days to 3 years 5 months and 14 days | delay in submission of Form FCGPR to the Reserve Bank, after issue of shares to a person resident outside India | The company is engaged in the business of data analytics solutions mainly catering to the engineering and energy industry. The applicant company allotted equity shares and filed Form FC-GPRs with Reserve Bank/AD with a delay beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India. | 295,355,631 | 51,532 | |
| 1.236 | IBS Synergies (India) Private Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2757 days. (ii) 2573 days | (i) delay in submission of FCGPR to the Reserve Bank after issue of shares (ii) delay in application for refund of excess amount | The applicant is engaged in the business of Food processing enabled services. The applicant company allotted equity shares and filed Form FC-GPRs with Reserve Bank/AD with a delay beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India. The company had allotted equity shares to the foreign investors. the company had neither allotted shares nor refunded the excess share application money within the stipulated period of 180 days. | (i) 20,00,000 (ii) 92,70,000 | 51,533 | |
| 1.237 | Texelq Engineering India Private Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) (ii) (iii) (iv) | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR on allotment of shares to Reserve Bank (iii) delay in allotment of shares | The applicant company is engaged in business of Architectural and engineering and other technical consultancy activities. The applicant reported receipt of remittances to the Reserve Bank beyond the stipulated time of 30 days The applicant company allotted equity shares and filed Form FC-GPRs with Reserve Bank/AD with a delay beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India. The company allotted shares with delay ranging 20 days to three years four months seven days without prior approval of Reserve Bank. Whereas in terms of paragraph 8 of Schedule I to Notification No. FEMA 20/2000-RB, read with AP (Dir Series) Circular No.20 dated December 14, 2007 the shares have to be issued/amount refunded within 180 days from the date of receipt of the inward remittance. | (i) 306,48,311.30 (ii) 560,49,200 (iii) 139,70,300 | 51,534 | |
| 1.238 | Jatropower Bio-Trading Private Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 years 5 months 15 days to 7 years 10 months 6 days (ii) 1 months 5 days to 8 years 3 months 18 days (iii) 1 months 18 days to 2 years 6 months (iii)a 3 years 7 months 3 days to 8 years 11 months 24 days | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR on allotment of shares to Reserve Bank (iii) delay in allotment of shares in terms | The applicant company is engaged in business of research and experimental development on natural sciences and engineering. The applicant reported receipt of remittances to the Reserve Bank beyond the stipulated time of 30 days The applicant company allotted equity shares and filed Form FC-GPRs with Reserve Bank/AD with a delay beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India. The company allotted shares without prior approval of Reserve Bank. Whereas in terms of paragraph 8 of Schedule I to Notification No. FEMA 20/2000-RB, the shares have to be issued/amount refunded within 180 days from the date of receipt of the inward remittance. | (i) 342,87,976 (ii) 159,71,250 (iii) 99,00,000 (iii)a 242,88,976 | 51,535 | |
| 1.239 | Checkpoint Apparel Labelling Solutions India Private Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 months 27 days to 10 years 3 months 1 days (ii) 9 years 6 months 5 days to 9 years 6 months 17 days (iii) 9 years 8 months 1 days | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR on allotment of shares to Reserve Bank (iii) delay in allotment of shares in terms | The applicant company is engaged in business of other printing activities like screen printing other than textile n.e.c. The applicant reported receipt of remittances to the Reserve Bank beyond the stipulated time of 30 days The applicant company allotted equity shares and filed Form FC-GPRs with Reserve Bank/AD with a delay beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India. The company allotted shares without prior approval of Reserve Bank. Whereas in terms of paragraph 8 of Schedule I to Notification No. FEMA 20/2000-RB, the shares have to be issued/amount refunded within 180 days from the date of receipt of the inward remittance. | (i) 292,30,209 (ii) 174,79,650 (iii) 185,040 | 51,536 | |
| 1.240 | Neohapsis Software Private Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 5 months 11 days | taking on record the transfer of shares in the books of the company without certified FCTRS | The company has taken on record the transfer of shares from Residents to Non Residents without certified FC-TRS. The company defaulted in filing form FC-TRS which should be submitted to the AD Category – I bank, within 60 days from the date of receipt of the amount of consideration | 130,000 | 51,537 | |
| 1.241 | Del Corona & Scardigli Private Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 months 27 days to 4 months 24 days | delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The applicant company is engaged in business of service activities incidental to water transportation. The applicant company allotted equity shares and filed Form FC-GPRs with Reserve Bank/AD with a delay beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India. | 24,014,106 | 51,538 | |
| 1.242 | Beva Silicones Private Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 6 days to 5 months 8 days (ii) 4 months 18 days | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares, (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The applicant company is engaged in business of manufacture of chemical products or preparations of a kind used in the textiles, paper, leather and like industries. The applicant reported receipt of remittances to the Reserve Bank beyond the stipulated time of 30 days The applicant company allotted equity shares and filed Form FC-GPRs with Reserve Bank/AD with a delay beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India | (i) 107,62,239 (ii) 99,99,964 | 51,539 | |
| 1.243 | Imprimatur Printing Services Private Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 months 4 days to 8 months 12 days (ii) 14 days to 11 months 27 days | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The applicant company is engaged in business of other information technology and computer service activities n.e.c. The applicant reported receipt of remittances to the Reserve Bank beyond the stipulated time of 30 days The applicant company allotted equity shares and filed Form FC-GPRs with Reserve Bank/AD with a delay beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India | (i) 834,449.83 (ii) 335,35,857.50 | 51,540 | |
| 1.244 | Sumhitha Polyfabrics Private Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 16 days to 2 months 7 days (ii) 2 months 16 days to 7 months 17 days (iii) 6 months 4 days | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPR to Reserve Bank of India after issue of shares towards subscription to equity (iii) delay in refund of excess share application money | The company is engaged in the business of manufacture of other textiles n.e.c. The applicant reported receipt of remittances to the Reserve Bank beyond the stipulated time of 30 days The applicant company allotted equity shares and filed Form FC-GPRs with Reserve Bank/AD with a delay beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India The company had allotted equity shares to the foreign investors. the company had neither allotted shares nor refunded the excess share application money within the stipulated period of 180 days. | (i) 54,19,04,150 (ii) 54,00,000 (iii) 19,01,950 | 51,541 | |
| 1.245 | Rockworth Systems Furniture (India) Private Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 months 20 days to 1 years 3 months 26 days (ii) 1 years 4 months 28 days to 3 years 5 months 13 days (iii) 7 days to 27 days | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPR to Reserve Bank of India after issue of shares towards subscription to equity (iii) delay in refund of excess share application money | The company is engaged in the business of manufacturing furniture made of wood The applicant reported receipt of remittances to the Reserve Bank beyond the stipulated time of 30 days The applicant company allotted equity shares and filed Form FC-GPRs with Reserve Bank/AD with a delay beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India The company had allotted equity shares to the foreign investors. the company had neither allotted shares nor refunded the excess share application money within the stipulated period of 180 days. | (i) 75,00,000 (ii) 11,07,05,000 (iii) 486,00,661 | 51,542 | |
| 1.246 | Timla Foods Private Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 2 days to 10 days | delay in reporting of receipt of foreign inward remittances towards subscription of equity | The company is engaged in the business of manufacturing food products, snacks and popcorn (FMCG products). The applicant reported receipt of remittances to the Reserve Bank beyond the stipulated time of 30 days | 15,633,906 | 51,543 | |
| 1.247 | Talis Valves India Private Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 months 13 days (ii) 3 days to 3 months 26 days (iii) 3 months 20 days to 7 months 17 days | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPR to Reserve Bank of India after issue of shares towards subscription to equity (iii) delay in refund of excess share application money | The company is engaged in the business of manufacture of other pumps, compressors, taps and valves etc. The applicant reported receipt of remittances to the Reserve Bank beyond the stipulated time of 30 days The applicant company allotted equity shares and filed Form FC-GPRs with Reserve Bank/AD with a delay beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India The company had allotted equity shares to the foreign investors. the company had neither allotted shares nor refunded the excess share application money within the stipulated period of 180 days | (i) 9068830 (ii) 9000000 (iii) 159522 | 51,544 | |
| 1.248 | Mysmartprice Web Technology Private Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 days to 6 days (ii) 3 months 5 days to 1 years 4 months 14 days | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPR to Reserve Bank of India after issue of shares towards subscription to equity | The company is engaged in the business of design and development of websites, to sell the advertisement space on website, referrals to the affiliate websites. The applicant reported receipt of remittances to the Reserve Bank beyond the stipulated time of 30 days The applicant company allotted equity shares and filed Form FC-GPRs with Reserve Bank/AD with a delay beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India | (i) 700,003.08 (ii) 71,49,82,833.55 | 51,545 | |
| 1.249 | Mas Fabric Park (India) Private Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 4 days to 3 months 26 days (ii) 1 days to 8 months 17 days | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPR to Reserve Bank of India after issue of shares towards subscription to equity | The company is engaged in the business of creating a state of the art integrated apparel park with the capacity and capability to attract modern and state of the art manufacturing and service providers. The applicant reported receipt of remittances to the Reserve Bank beyond the stipulated time of 30 days The applicant company allotted equity shares and filed Form FC-GPRs with Reserve Bank/AD with a delay beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India | (i) 11,28,73,009 (ii) 14,05,14,030 | 51,546 | |
| 1.250 | United States Pharmacopeia India Private Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 days to 11 months 26 days (ii) 1 months 6 days to 1 years 1 months 25 days | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPR to Reserve Bank of India after issue of shares towards subscription to equity | The company is engaged in the provision of services to its holding company M/s USP Holding LLC, USA, which includes rendering Research and Development of Standards for Pharmaceuticals, Chemicals, Biologics, Dietary Supplements and Foods, testing and analysis of such samples. The applicant reported receipt of remittances to the Reserve Bank beyond the stipulated time of 30 days The applicant company allotted equity shares and filed Form FC-GPRs with Reserve Bank/AD with a delay beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India | (i) 11,28,73,009 (ii) 12,56,83,800 | 51,547 | |
| 1.251 | Everup Battery India Private Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 4 days to 3 months 26 days (ii) 1 days to 8 months 17 days | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPR to Reserve Bank of India after issue of shares towards subscription to equity | The company is engaged in the business of creating a state of the art integrated apparel park with the capacity and capability to attract modern and state of the art manufacturing and service providers. The applicant reported receipt of remittances to the Reserve Bank beyond the stipulated time of 30 days The applicant company allotted equity shares and filed Form FC-GPRs with Reserve Bank/AD with a delay beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India | (i) 11,28,73,009 (ii) 14,05,14,030 | 51,548 | |
| 1.252 | Endurance Technologies Limited | Jun/2018 | ODI | FEMA 120/RB-2004 | delay in filing of form ODI and non submission of APRs | (i) 4 years 7 months to 9 years 9 months (ii) 10 years 2 months (iii) more than 9 years | (i) delay in filing Form ODI beyond the stipulated time period (ii) funding of overseas investment through a mode other than the permitted modes (iii) nonsubmission of Annual Performance Reports (APR) within the stipulated time period. | It is engaged in the manufacturing of the automotive components, suspension products, transmission products and brake systems. The overseas investment made by ETL under the automatic route in the Italy SPV in May 2007 was reported with delay in form ODI-Part-1 on March 10, 2017 which was in contravention of regulation 6(2)(vi) of FEMA 120. Further, funding of the overseas investment by a mode other than that permitted under regulation 6(3) of FEMA 120 was in contravention of the said regulation. The APRs for two years i.e. from the year ended March 31, 2015 to the year ended March 31, 2016 were submitted with delay which was in contravention of regulation 15(iii) of FEMA 120. | (i) 335,71,301 (ii) 803,355 (iii) 327,67,946 | 51,563 | |
| 1.253 | Verdant Life Sciences Private Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 years 7 months 26 days | (i) delay in reporting receipt of foreign inward remittances | The company is engaged in the business of manufacturing medicinal substances used in the manufacture of pharmaceuticals, antibiotics, endocrine products, basic vitamins, opium derivatives, sulpha drugs, serums and plasmas, salicylic acids, its salts and esters, glycosides and vegetable alkaloids, chemically pure sugar etc.. The applicant reported receipt of remittances to the Reserve Bank beyond the stipulated time of 30 days | 3,661,370 | 51,549 | |
| 1.254 | Millith Karv Engineering & Trading Private Limited | Jun/2018 | ODI | FEMA 120/RB-2004 | Contravention on Provision | 3 months | nonreceipt of share certificates within the stipulated time period of 180 days. | The applicant is engaged in the business of trading, buying, selling, dealing etc. of engineering goods, chemicals and its bye-products etc. The applicant entered into a business deal with an overseas entity, on the basis of a letter of wherein the applicant had to invest USD 450,000 in lieu of a shareholding of 45% in the said overseas entity. The abovementioned investment was for the purposes of tender-bidding with respect to the allotment of teak plantation from the government of Ghana. However, the tender was not accepted and the plantation was not allotted to the overseas company. Meanwhile, in accordance with the letter , the applicant made the initial investment in the overseas company to the extent of USD 200,000 (Rs. 1,10,70,990), on 08.01.2013. Since, the business deal did not materialize, the remittance of USD 200,000 was repatriated on 18.09.2013 (The actual amount repatriated was USD 199,947 since an amount of USD 53 was deducted as bank charges). However, since the time period of six months during which the shares should have been allotted, was exceeded, it resulted in a contravention of Regulation 15(i) of Notification No. FEMA 120/2004-RB. | 11,070,990 | 51,566 | |
| 1.255 | Apex Covantage India Private Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 10 months 8 days to 1 years 5 months | (i) delay in reporting receipt of foreign inward remittances | The company is engaged in the business of providing computer software and information technology enabled services in the field of e-publishing, data knowledge processing etc. The applicant reported receipt of remittances to the Reserve Bank beyond the stipulated time of 30 days | 11,619,840 | 51,550 | |
| 1.256 | Apex Knowledge Technology Private Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 10 months 22 days (ii) 1 years 2 months 10 days | (i) delay in submission of Form FCGPR to Reserve Bank of India after issue of shares towards subscription to equity (ii) delay in refund of excess share application money | The applicant company allotted equity shares and filed Form FC-GPRs with Reserve Bank/AD with a delay beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India The company had allotted equity shares to the foreign investors. the company had neither allotted shares nor refunded the excess share application money within the stipulated period of 180 days | (i) 22,25,000 (ii) 22,25,000 | 51,551 | |
| 1.257 | Daydream Constructions Private Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 259 days to 715 days (ii) 268 days | (i) delay in submission of Form FCGPR to Reserve Bank of India after issue of shares towards subscription to equity (ii) delay in refund of excess share application money | The applicant company allotted equity shares and filed Form FC-GPRs with Reserve Bank/AD with a delay beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India The company had allotted equity shares to the foreign investors. the company had neither allotted shares nor refunded the excess share application money within the stipulated+L32+L34 | (i) 23509130 (ii) Euro 200 (INR 14400) | 51,552 | |
| 1.258 | Phoenix Managed Services (India) Private Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 months and 10 days to 2 years 1 months and 12 days. (ii) 3 months 14 days to 2 years 8 months 7 days (iii) 4 years 6 months 9 days, (iv) | (i) allotment of shares to NonResident investors under its Memorandum & Article of Association, prior to receipt of consideration (ii)delay in reporting receipt of foreign inward remittance towards subscription to equity (iii) delay in submission of Form FCGPR to the Reserve Bank (iv) non / delayed filing of Annual Return on Foreign Liabilities and Assets for the Financial Years 201213, 201314, 201415, 201516 and 201617. | Its main activities are, to carry on the business of Software designing, development, customisation, implementation, maintenance, testing and benchmarking, designing, developing and dealing in computer software and solutions, and to import, export, etc. The Company allotted shares to Non-Resident investors under its Memorandum & Article of Association, prior to receipt of consideration. Whereas in terms of paragraph 8 of Schedule 1 to Notification No. FEMA 20/2000-RB, if the shares are not issued within 180 days from the date of receipt of the inward remittance, the amount of consideration so received shall be refunded to the person concerned, provided the Reserve Bank may, on an application made to it and for sufficient reasons permit to refund the amount of consideration received towards issue of security, if such amount is outstanding beyond a period of 180 days from the date of receipt. The applicant company allotted equity shares and filed Form FC-GPRs with Reserve Bank/AD with a delay beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India The applicant reported receipt of remittances to the Reserve Bank beyond the stipulated time of 30 days | (i) 10,06,069.11 (ii) 10,06,069.11 (iii) 10,00,000 | 51,553 | |
| 1.259 | KGK Creations Private Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 7 years 5 months (ii) 6 years 8 months 28 days (iii) | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPR to Reserve Bank of India after issue of shares towards subscription to equity (iii) delay in filing ‘Annual Return on Foreign Liabilities and Assets’ (FLA Returns), | Its main activities are to carry on the business of importers, exporters, manufacturers, buyers, sellers, dealers, distributors, jewellers, goldsmiths, silversmiths, yellowsmiths, whitesmiths, electroplaters, commission agents, brokers etc The applicant reported receipt of remittances to the Reserve Bank beyond the stipulated time of 30 days The applicant company allotted equity shares and filed Form FC-GPRs with Reserve Bank/AD with a delay beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India The company has not filed the Annual Return on Foreign Liabilities and Assets (FLA return) to the Reserve Bank of India for the Financial Years 2007-08, 2008-09, 2010-11 and 2011-12 on or before stipulated date. Whereas, in terms of Paragraph 9(2) of Schedule 1 to Notification No. FEMA 20/2000-RB read with A. P. (DIR Series) Circular No. 29 dated February 02, 2017, all Indian companies which have received Foreign Direct Investment in the previous years including the current year, shall submit to the Reserve Bank of India, on or before the 15th day of July each year, a report titled ‘Annual Return on Foreign Liabilities and Assets’ as specified by the Reserve Bank from time to time. | (i)122,17,236 (ii) 122,17,500 | 51,554 | |
| 1.260 | O.L.C.I. Engineering India Private Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 months to 3 months 6 days (ii) 11 days to 8 months 15 days | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPR to Reserve Bank of India after issue of shares towards subscription to equity | Its main activities are (1) to carry on the business of conceptualization, designing, manufacturing, technical assistance, marketing, commercialization, sale, distribution, importing exporting, improving, engineering etc. The applicant reported receipt of remittances to the Reserve Bank beyond the stipulated time of 30 days The applicant company allotted equity shares and filed Form FC-GPRs with Reserve Bank/AD with a delay beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India | (i) 516,94,906.80 (ii) 21,80,95,800 | 51,555 | |
| 1.261 | Derivium Tradition Securities (India) Private Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 6 years 9 months 18 days | delay in submission of Form FCGPR to Reserve Bank of India after issue of shares towards subscription to equity | Its main activities are (i) to carry on the business of finance, investment, as stock and wholesale and retail debt brokers, to carry on the business in share and stocks and purchase, sale, subscription, acquisition or dealing in shares, stocks, debenture stocks, bonds, units, derivatives etc. The applicant company allotted equity shares and filed Form FC-GPRs with Reserve Bank/AD with a delay beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India | 13,250,000 | 51,556 | |
| 1.262 | Wockhardt Hospitals Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 9 years 8 months 24 days (ii) 9 years 8 months 24 days | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPR to Reserve Bank of India after issue of shares towards subscription to equity | Its main activities are to carry on business of owning, acquiring, promoting, establishing, taking on lease, hiring, maintaining, running, managing and supporting hospitals, clinics, dispensaries, polyclinics, educational, study, etc. The applicant reported receipt of remittances to the Reserve Bank beyond the stipulated time of 30 days The applicant company allotted equity shares and filed Form FC-GPRs with Reserve Bank/AD with a delay beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India | (i) 99,33,00,000 (ii) 99,33,00,000 | 51,557 | |
| 1.263 | ZTRIC India Private Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 4 months 2 days to 9 months 9 days (ii) 3 months 22 days to 10 months 12 days | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPR to Reserve Bank of India after issue of shares towards subscription to equity | Its main activities are to carry on business of owning, acquiring, promoting, establishing, taking on lease, hiring, maintaining, running, managing and supporting hospitals, clinics, dispensaries, polyclinics, educational, study, etc. The applicant reported receipt of remittances to the Reserve Bank beyond the stipulated time of 30 days The applicant company allotted equity shares and filed Form FC-GPRs with Reserve Bank/AD with a delay beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India | (i) 258,92,300 (ii) 629,58,800 | 51,558 | |
| 1.264 | Firki Wholesale Private Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 months and 10 days to 2 years 1 months and 12 days. (ii) 2 months and 7 days to 2 years 5 months and 8 days. | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPR to Reserve Bank of India after issue of shares towards subscription to equity | Its main activities are to carry on business of owning, acquiring, promoting, establishing, taking on lease, hiring, maintaining, running, managing and supporting hospitals, clinics, dispensaries, polyclinics, educational, study, etc. The applicant reported receipt of remittances to the Reserve Bank beyond the stipulated time of 30 days The applicant company allotted equity shares and filed Form FC-GPRs with Reserve Bank/AD with a delay beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India | (i) 144,45,343.78 (ii) 367,98,032.63 | 51,559 | |
| 1.265 | Aaidea Solutions Private Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 5 days to 2 months and 1 days (ii) 25 days to 3 months and 1 days. | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPR to Reserve Bank of India after issue of shares towards subscription to equity | The company is engaged in the business of whole sale trading of all types of grocery products such as fruits, vegetables, milk and other dairy products, eggs, tea, coffee etc. excluding tobacco products and wines etc. The applicant reported receipt of remittances to the Reserve Bank beyond the stipulated time of 30 days The applicant company allotted equity shares and filed Form FC-GPRs with Reserve Bank/AD with a delay beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India | (i) 420,11,033.22 (ii) 314,98,750 | 51,560 | |
| 1.266 | Tienda Advance Materials Private Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i)1 months 16 days to 2 months 20 days (ii) 2 months 9 days | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPR to Reserve Bank of India after issue of shares towards subscription to equity | The main object of undertaking the business of manufacture of plastics products. The applicant reported receipt of remittances to the Reserve Bank beyond the stipulated time of 30 days The applicant company allotted equity shares and filed Form FC-GPRs with Reserve Bank/AD with a delay beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India | (i) 19,59,986.30 (ii) 19,59,896 | 51,561 | |
| 1.267 | Strides Shasun Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Contravention on Provision | 3 years 9 months | issuance of Employee Stock Options (ESOPs) to the person resident outside India in the brownfield pharmaceutical company without obtaining necessary prior approval at a time when the foreign investment in brownfield pharmaceutical sector was under the approval route | The applicant is engaged in the pharmaceutical industry, as manufacturer, producer, processor and formulator of proprietary medicine, drugs etc The applicant issued 50,000 Employee Stock Options (ESOPs) exercisable/ convertible into 50,000 equity shares. The applicant, engaged in the brownfield pharmaceutical company sector, issued Employee Stock Options (ESOPs) to a person resident outside India without obtaining necessary prior approval thereby contravening the said FEMA provisions. | 16,115 | 51,562 | |
| 1.268 | Inventurus Knowledge Solutions Private Limited | Jun/2018 | FDI | FEMA 20/2000-RB | Contravention on Provision | (i)9 years 2 months to 11 years 5 months (ii) 6 days to 9 years 8 months (iii) 9 years to 9 years 11 months | (i) taking on record the transfer of shares from resident Indians to non – resident Indians, without filing of certified form FCTRS (ii) delay in reporting the receipt of funds for issue of shares, beyond the stipulated time period (iii) delay in filing of form FCGPR beyond the stipulated time period | It is engaged in the business of providing knowledge based solutions for transactions and voice based business outsourcing services of all types. The applicant had received foreign inward remittance for issue of equity shares. However, there was a delay in reporting certain inward remittances which were remitted in various dates during the period from 2007 to 2017, in contravention of Paragraph 9(1)(A) of Schedule I of Notification No. FEMA 20/2000-RB. Further, there was delay in filing Forms FC-GPR, resulting in a contravention of Paragraph 9(1)(B) of Schedule I of Notification No. FEMA 20/2000-RB. The applicant company allotted equity shares and filed Form FC-GPRs with Reserve Bank/AD with a delay beyond the prescribed period of 30 days from the date of issue of shares to persons resident outside India | (i) 268,94,122 (ii) 123,90,273 (iii) 115,75,225 | 51,565 | |
| 1.269 | M/s Technovaa Plastic Industries Pvt. Ltd. | Jun/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 9 months. (ii) 2 months. (iii) 141 days . | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity. (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. (iii) delay in allotment of shares beyond stipulated period of 180 days | The applicant company was incorporated on May 08, 2014, under the provisions of the Companies Act, 1956 and is engaged in carrying on business of manufacturing of Plastic Films. | (i) 182332 lakh(182332853) (ii) 850934 lakh (850934000) (iii) 850934 lakh (850934000) | 2,694,802 | |
| 1.270 | Keduventures Smart Services Private Limited | Jul/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 days to 2 months and 27 days. (ii) 13 days to 6 months and 8 days. | (i) Delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity. (ii) Delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. | The company is engaged in providing education support services to schools in India.Delay in reporting the inflow of funds from a person resident outside India. The contravention relates to an amount of Rs.5,95,57,600.00 and the duration of contravention is ranging from 1 day to 2 months and 27 days.Delay in filing of form FC-GPR with RBI. The contravention relates to an amount of Rs.6,39,94,960.00 and duration of contravention ranges from 13 days to 6 months and 8 days, beyond the prescribed period of 30 days. | (i) 5,95,57,600 (ii) 639,94,960 | 54,155 | |
| 1.271 | Magneti Marelli Powertrain India Private Limited | Jul/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 9 years and 12 days. | The contravention sought to be compounded is of delay in submission of form FCGPR after allotment of shares | The company is engaged in manufacturing and sale of 'Engine Control Units' and 'Automated Manual Transmission Systems' used in automobiles.Delay in filing of form FC-GPR with RBI. The contravention relates to an amount of Rs.29,16,00,0001- and the delay is of 9 years and 12 days. | 2,916,000,001 | 918,000 | |
| 1.272 | Pritop Tech Private Limited | Jul/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 years 5 months and 10 days. (ii) 2 years 1 months and 9 days. | (i) Delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity. (ii) Delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. | The company is engaged in wholesale business of software.Delay in reporting the inflow of funds from a person resident outside India. The contravention relates to an amount of Rs 102032.07 and the delay is of 1 year 5 months and 10 days.Delay in filing of form FC-GPR with RBI. The contravention relates to an amount of Rs.99000/- and the delay is of 2 years 1 month and 9 days. | (i) 102,032.07 (ii) 99,000 | 25,170 | |
| 1.273 | Nepra Resource Management Pvt. Ltd. | Jul/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 55 to 444 days | Delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The company is engaged in activity of collection of non-hazardous waste, bearing NIC Code: 38110.The applicant has filed two form FC-GPRs amounting to ₹6,96,50,156/- with a delay ranging from 55 to 444 days beyond the prescribed timeline of 30 days. | 69,650,156 | 81,000 | |
| 1.274 | M/s Spoton Logistics Private Limited | Jul/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) twenty 3 days to 1 months and 5 days (ii) 9 days to 2 months and 1 days. | (i) Delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity. (ii) Delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. | The Company is engaged in the business of domestic cargo shipment by land and air. Due to delay in reporting of foreign inward remittances, received towards subscription to equity as detailed in paragraph 2 above. The contravention relates to an amount of Rs. 23,00,00,000.00, and the period of delay ranges from twenty three days to one month and five days.Due to delay in submission of Form FC-GPRs to the Reserve Bank, after issue of shares to persons resident outside India as detailed in paragraph 3 above. The contravention relates to an amount of Rs.8,00,00,000.00, and the period of delay ranges from nine days to two months and one day. | (i) 23,00,00,000 (ii) 800,00,000 | 5,700,000 | |
| 1.275 | M/s Cricket Semiconductor Private Limited | Jul/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 days to 5 months and 25 days (ii) 4 months and 12 days to 8 months and 15 days (iii) 1 months and 15 days to 5 months and twenty days. | (i) Delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity. (ii) delay in refund of excess share application money/allotment of shares prior to the receipt of inward remittances. (iii) Delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. | The company is engaged in the business of manufacturing of integrated circuits (analog, digital or hybrid).Due to delay in reporting of foreign inward remittances received towards subscription to equity as detailed in paragraph 2 above. The contravention relates to an amount of Rs.6,39,507.00, and the period of delay ranges from one day to five months and twenty five days.Due to allotment of shares prior to receipt of inward remittances, and refund of excess share application money beyond 180 days from the date of receipt of inward remittances, with prior approval from Reserve Bank of India as detailed in paragraph 3 above. The total amount of contravention is Rs.97,576.54, and the period of delay ranges from four months and twelve days to eight months and fifteen days.Due to delay in submission of Form FC-GPRs to the Reserve Bank after issue of shares to persons resident outside India, as detailed in paragraph 4 above. The contravention relates to an amount of Rs.11,49,747.00, and the period of delay ranges from one month and fifteen days to five months and twenty days. | (i) 639,507 (ii) 97,576.54 (iii) 11,49,747 | 2,530,000 | |
| 1.276 | M/s Arohan Financial Services Private Limited | Jul/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 days to 9 years 1 months twenty-2 days. (ii) 3 days to 5 months twenty-6 days | (i) Delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity. (ii) Delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. | The applicant is in the business of micro finance and financial services activities. Delay in submission of Form FC-GPR to the Reserve Bank after issue of shares to a person resident outside India beyond the stipulated 30 days as details in paragraph 2 above. The contravention relates to an amount of Rs.78,04,99,297.90/- and the duration is from two days to nine years one month twenty-two days . Delay in submission of Form FC-GPR to the Reserve Bank after issue of shares to a person resident outside India beyond the stipulated 30 days as details in paragraph 3 above. The contravention relates to an amount of Rs.34,01,45,072.90/- and the duration is from three days to five months twenty-six days . | (i) 78,04,99,297.90 (ii) 34,01,45,072.90 | 990,833 | |
| 1.277 | M/s Newtown Leisure Pvt Ltd | Jul/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 8 years 7 months 5 days | Due to delay in allotment of shares/refund of share application money beyond stipulated period of 180 days from date of receipt | He is in the business of hotels and hospitality sector.Delay in refund of advance amount after 180 days of receipt of amount as details in paragraph 4 above. The contravention relates to an amount of Rs.17,39,18,022/- and the duration is 8 years 7 months 5 days . | 173,918,022 | 1,334,385 | |
| 1.278 | M/s TCG Urban Infrastructure Holdings Private Limited | Jul/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 11 years 2 months 5 days | The contraventions sought to be compounded is refund of share subscription amount after 180 days of receipt of advance amount. | The applicant is in the business of real estate developers, construction and other development activities related to real estate.Paragraph 8 of Schedule 1 of Notification No.FEMA 20/2000-RB dated May 03, 2000 for refund of share subscription beyond 180 days from receipt of advance amount as details in paragraph 4 above. The contravention relates to an amount of Rs.19,27,574.84/- and the duration is eleven years two months five days . | 192,757,484 | 44,457 | |
| 1.279 | M/s Worldwide Safety Private Limited | Jul/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 2 years 1 months . | Delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. | he is in the business of producing, manufacturing, designing etc of all kinds of knitted and dipped industrial safety seamless gloves.Delay in submission of Form FC-GPR to the Reserve Bank after issue of shares to a person resident outside India beyond the stipulated 30 days as details in paragraph 3 above. The contravention relates to an amount of Rs.3,06,57,240/- and the duration is two years one month . | 3,065,724 | 114,167 | |
| 1.280 | M/s. Rain Industries Limited | Jul/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 17 years 10 months 12 days . | The contravention sought to be compounded is allotment of shares to the nonresident investor under wrong category in terms of Regulation 5(1) of Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 notified vide Notification No. FEMA.20/2000RB dated May 03, 2000 (hereinafter referred to as Notification No. FEMA.20/2000RB) as then applicable. | The company is engaged in the business of manufacture and sale of Cement, Calcined Petroleum Coke, Chemicals, Generation and Supply of Electricity. Regulation 5(1) of Notification No. FEMA.20/2000-RB for allotment of shares to the non-resident investor under wrong category. Here the contravention relates to an amount of 3,61,000/- and the period of contravention is 17 years 10 months 12 days . | 361,000 | 52,708 | |
| 1.281 | M/s. TTJ Design & Engineering (India) Private Limited | Jul/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3 days to 4 months 7 days . (ii) 7 years 3 months 8 days . (iii) 6 years 1 months 9 days . (iv) 8 days to 9 months 1 days . | (i) Delay in reporting of receipt of foreign inward remittances towards subscription of equity. (ii) Delay in submission of Form FCGPR to the Reserve Bank after issue of shares. (iii) Delay in receipt of consideration after allotment of shares towards subscription to MoA to a person resident outside India. (iv) Delay in allotment of shares to a person resident outside India. | The company is engaged in the business of civil, electrical and mechanical contractors for repairs, reconstructions and renovation of commercial buildings, factories, shops etc. in India and/or outside India.Delay in reporting the receipt of consideration towards issue of shares amounting to 90,06,667.80 and the delay ranges from 3 days to 4 months 7 days .Delay in submission of Form FC-GPR to Reserve Bank of India after issue of shares to persons resident outside India and the contravention relates to an amount of 56,17,160/- and the delay ranges from 11 days to 7 years 3 months 8 days . Delay in receipt of consideration from the foreign investor for the allotment of shares towards Subscription to MoA and the contravention relates to an amount of 70,000/- with a delay of 6 years 1 month 9 days . Delay in the allotment of shares to the foreign investor and the contravention relates to an amount of 90,06,667.80 and the delay ranges from 8 days to 9 months 1 day . | (i) 90,06,667.80 (ii) 56,17,160 (iii) 70,000 (iv) 90,06,667.80 | 93,800 | |
| 1.282 | M/s. Lixil India Sanitaryware Private Limited | Jul/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 4 days to 12 days . (ii) 3 days to 1 months 2 days . | (i) Delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity. (ii) Delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. | The company is engaged in the business of manufacturing, distributing and selling sanitaryware products. Delay in reporting the receipt of consideration towards issue of shares amounting to 5,00,00,000/- and the delay ranges from 4 days to 12 days . Delay in submission of Form FC-GPR to Reserve Bank of India after issue of shares to persons resident outside India and the contravention relates to an amount of 27,04,98,600/- and the period of contravention ranges from 3 days to 1 month 2 days . | (i) 500,00,000 (ii) 27,04,98,600 | 45,620 | |
| 1.283 | M/s. Lincoln & Lyndon Enterprises Private Limited | Jul/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 16 days to 2 months 27 days . (ii) 4 months 12 days to 9 months 10 days . | (i) Delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity. (ii) Delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. | The company is engaged in the business of other business support service activities n.e.c. Delay in reporting the receipt of consideration towards issue of shares amounting to 1,05,33,263/- and the delay ranges from 16 days to 2 months 27 days . Delay in submission of Form FC-GPR to Reserve Bank of India after issue of shares to persons resident outside India and the contravention relates to an amount of 3,64,35,363/- and the period of contravention ranges from 4 months 12 days to 9 months 10 days . | (i) 105,33,263 (ii) 364,35,363 | 71,390 | |
| 1.284 | M/s. Alphamed Formulations Private Limited | Jul/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 4 years 5 months 5 days to 4 years 9 months . (ii) 4 years 11 months 27 days to 5 years 9 months . | (i)Receipt of foreign investment under approval route without obtaining specific and prior approval from Government of India. (ii) Taking on record the transfer of shares from residents to nonresident investor without prior approval from Government of India. | The company is engaged in the business of manufacturing and dealing with pharmaceuticals, formulations, medicines, chemical preparation and drug formulation and the company had been receiving inward remittances since December 2006 which are permitted up to 100% under automatic route.There was a change in regulation and therefore approval from government was mandatory.Issue of shares to the foreign investor without prior approval from Government of India and the contravention relates to an amount of 17,92,10,404/- and the period of contravention ranges from 4 years 5 months 5 days to 4 years 9 months . Regulation 4 of Notification No.20/2000-RB for taking on record transfer of shares from resident shareholders to non-resident company without prior permission from the appropriate authority, here Department of Pharmaceuticals, Government of India and the contravention relates to an amount of 11,91,19,348/- and the period of contravention ranges from 4 years 11 months 27 days to 5 years 9 months . | (i) 17,92,10,404 (ii) 11,91,19,348 | 2,491,973 | |
| 1.285 | M/s. Oremus Corporate Services Private Limited | Jul/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 days to 4 months 9 days . (ii) 2 days . (iii) 5 years 1 months 22 days to 5 years 9 months 25 days . (iv) 7 months 21 days to 4 years 11 months 18 days . | (i) Delay in reporting of receipt of foreign inward remittances towards subscription of equity. (ii) Delay in submission of Form FCGPR to the Reserve Bank after issue of shares. (iii) Delay in allotment of shares beyond 180 days from the date of receipt of remittance. (iv) Refund of un allotted or excess share application money beyond 180 days from the date of receipt of remittance. | The company is engaged in the business of Accounting, bookkeeping and auditing activities. Delay in reporting the receipt of consideration towards issue of shares amounting to 33,48,738.92 and the delay ranges from 2 days to 4 months 9 days . Delay in submission of Form FC-GPR to Reserve Bank of India after issue of shares to persons resident outside India and the contravention relates to an amount of 13,12,540/- with a delay of 2 days . Delay in the allotment of shares to the foreign investor and the contravention relates to an amount of 15,16,698.92 and the delay ranges from 5 years 1 month 22 days to 5 years 9 months 25 days . Delay in the refund of balance share application money to the foreign investor and the contravention relates to an amount of 37,14,226.92 and the delay ranges from 4 years 7 months 21 days to 4 years 11 months 18 days . | (i) 33,48,73,892 (ii) 13,12,540 (iii) 15,16,69,892 (iv) 37,14,22,692 | 101,356 | |
| 1.286 | PC Jeweller Limited | Jul/2018 | ODI | FEMA 120/RB-2004 | Delay in reporting | (i) 1 years and 4 months . (ii) 1 years and 3 months to 1 years and 6 months . | (i) Making outward remittances to the overseas entity without submission of Form ODI. (ii) Making outward remittances to the overseas entity under the automatic route when the same was permitted only with prior approval. | PC Jeweller Limited (PJL) is engaged in the business of manufacturing and export of jewellery. The applicant set up a wholly-owned subsidiary (WOS) namely, P. C. Jeweller Global DMCC in UAE on June 08, 2016 and made remittances amounting to USD 200,00,500 to the overseas WOS, under the automatic route.Regulation 6(2)(vi) - The amount of contravention was USD 500 (₹33,745) and the period of contravention was 1 year and 4 months .Regulation 6(2)(iii) - The amount of contravention was USD 2,00,00,500 (₹1,33,85,71,806/-) and the period of contravention ranges from 1 year and 3 months to 1 year and 6 months . The applicant was under investigation by Directorate of Revenue Intelligence (DRI) which was concluded in July 2014 and a show cause notice (SCN) dated July 08, 2014 was issued to the applicant. The applicant filed an appeal against the SCN to Commissioner (customs) Imports in January 2015 which is pending till date. The applicant was not eligible to undertake overseas direct investment (ODI), under the automatic route pending disposal of the appeal and prior approval of RBI should have been obtained. The applicant thus contravened regulation 6(2)(iii) of Notification No. FEMA 120/2004-RB. The transactions were subsequently approved by RBI on February 26, 2018. | (i) 33,745 (ii) 133,85,71,806 | 7,413,478 | |
| 1.287 | Anand Rathi Wealth Services Limited | Jul/2018 | ODI | FEMA 120/RB-2004 | Delay in reporting | (i) 8 years, 7 months and 18 days. (ii) 8 years, 7 months and 18 days. | (i) The contraventions sought to be compounded relate to nonsubmission of Annual Performance Reports (APRs) for the period 2006 to 2009. (ii) The applicant had written off the entire amount of ODI under automatic route without obtaining fair valuation certificate and without submitting APRs. | The applicant is engaged in the business of funds management and venture capital, financial advisor, wealth management etc. in India.The applicant invested USD 30,000 on October 19, 2005 in an overseas WOS viz. Anand Rathi India Realty Fund in Mauritius.Regulation 15(iii)-The amount of contravention in INR, as declared by the applicant is ₹13,67,400/- and the period of contravention is taken as 8 years, 7 monthsand 18 days from the date of such cash payment to the date of submission of compounding application.Regulation 16(1)(iii) & Reg 16(1)(v) -The amount of contravention in INR, as declared by the applicant is ₹13,67,400/- and the period of contravention is taken as 8 years, 7 months and 18 days from the date of such cash payment to the date of submission of compounding application. | (i) 13,67,400 (ii) 13,67,400 | 210,510 | |
| 1.288 | Pyramid Consulting Engineers Private Limited | Jul/2018 | ODI | FEMA 120/RB-2004 | Delay in reporting | 10 years and 10 days. | The contraventions sought to be compounded relate to delayed return of share application money beyond 180 days from the date of remittance. | The applicant is engaged in the business of engineering consultancy. The applicant remitted USD 275,000 on August 17, 2007 towards investment in overseas joint venture viz. Pyramid Engineering and Consulting LLC in Oman. Due to business disagreement between the promoters the plan to open the JV could not materialize. The aforesaid amount of investment was returned to the applicant after deducting bank charges. The applicant received USD 224,956.74 on October 10, 2007 (within 6 months of initial investment) and USD 47,448.13 on September 22, 2008 (beyond 6 months of the initial investment). Non-receipt of share certificate within 6 months from the date of investment is not in line with Regulation 15(i) of FEMA 120. | 2,149,875 | 110,000 | |
| 1.289 | M/s. Jupiter Goldenstate Labels India Pvt Ltd., | Jul/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 years 9 months 2 days . (ii) 6 years 11 months 19 days . (iii) 8 months 11 days . (iv) 8 years 3 months 28 days to 8 years 10 months 24 days . | (i) Delay in reporting of receipt of foreign inward remittances towards subscription of equity. (ii) Delay in submission of Form FCGPR to the Reserve Bank after issue of shares. (iii) Delay in allotment of shares beyond 180 days from the date of receipt of remittance. (iv) Refund of un allotted or excess share application money beyond 180 days from the date of receipt of remittance. | The applicant company is engaged in business of manufacture of other textiles/textile products n.e.c.Delay in reporting of receipt of inward remittances towards subscription of equity shares as detailed in paragraph 2 above. The contravention relates to an amount of ₹ 41,05,500.00 with duration of contravention being two years nine months two days . Delay in submission of Form FC-GPR to the Reserve Bank after issue of shares to persons resident outside India. The contravention relates to an amount of ₹ 50,00,000.00 with the duration of contravention being six years 11 months 19 days . Delay in allotment of shares without prior approval of Reserve Bank. The contravention relates to an amount of ₹50,00,000.00 with the duration of contravention being eight months 11 days .Delay in refund of excess inward remittance with prior approval of Reserve Bank. The contravention relates to an amount of ₹51,22,660.00 with the duration of contravention ranging from eight years three months 28 days to eight years 10 months 24 days . | (i) 41,05,500 (ii) 50,00,000 (iii) 50,00,000 (iv) 51,22,660 | 247,690 | |
| 1.290 | M/s. Sebo Mec India Pvt Ltd., | Jul/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 5 days to 4 months 22 days . (ii) 20 days to 7 months 4 days . | (i) Delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity. (ii) Delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. | The applicant company is engaged in business of manufacture of other general purpose machinery n.e.c. Delay in reporting of receipt of inward remittances towards subscription of equity shares as detailed in paragraph 2 above. The contravention relates to an amount of ₹ 67,75,694.00 with the duration of contravention ranging from five days to four months 22 days . Delay in submission of Form FC-GPR to the Reserve Bank after issue of shares to persons resident outside India and the contravention relates to an amount of ₹ 1,04,99,970.00 with the duration of contravention ranging from 20 days to seven months four days . | (i) 67,75,694 (ii) 104,99,970 | 24,610 | |
| 1.291 | M/s. PAR Formulations Pvt Ltd., | Jul/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 months . (ii) 7 days to 2 years 2 months 19 days . (iii) 3 days to 2 months 9 days . (iv) 1 years 3 days to 2 years 8 months 5 days . Iue 5 years 7 moth 3 days . | (i) Delay in reporting of receipt of foreign inward remittances towards subscription of equity. (ii) Delay in submission of Form FCGPR to the Reserve Bank after issue of shares. (iii) Delay in allotment of shares beyond 180 days from the date of receipt of remittance. (iv) Refund of un allotted or excess share application money beyond 180 days from the date of receipt of remittance. (v) Delay in bringing in excess refund. | The applicant company is engaged in business of manufacture of pharmaceuticals, medicinal chemical and botanical products.Delay in reporting of receipt of inward remittances towards subscription of equity shares as detailed in paragraph 2 above. The contravention relates to an amount of ₹ 8,49,562.00 with duration of contravention being two months . Delay in submission of Form FC-GPR to the Reserve Bank after issue of shares to persons resident outside India. The contravention relates to an amount of ₹ 106,57,89,005.62 with the duration of contravention ranging from seven days to two years two months 19 days . Delay in allotment of shares without prior approval of Reserve Bank. The contravention relates to an amount of ₹16,47,050.00 with the duration of contravention ranging from three days to two months nine days . Delay in refund of inward remittance received without prior approval of Reserve Bank. The contravention relates to an amount of ₹69,39,373 with the duration of contravention being one year three days to two years eight months 5 days .delay in bringing in excess amount refunded. The contravention relates to an amount of ₹15,67,764.00 with the duration of contravention being eight years seven moths three days . | (i) 106,57,89,005.62 (ii) 106,57,89,005.62 (iii) 16,47,050 (iv) 69,39,373 (v) 15,67,764 | 240,846 | |
| 1.292 | M/s. Pillar Chemicals Pvt Ltd., | Jul/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 months to 3 years 25 days . (ii) our months 13 days to 1 years 11 months 13 days . | (i) Delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity. (ii) Delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. | The applicant company is engaged in business of Wholesale of industrial chemicals. Delay in reporting of receipt of inward remittances towards subscription of equity shares as detailed in paragraph 2 above. The contravention relates to an amount of ₹ 4,10,00,096.50 with the duration of contravention ranging from two months to three years 25 days . Delay in submission of Form FC-GPR to the Reserve Bank after issue of shares to persons resident outside India and the contravention relates to an amount of ₹ 4,10,00,000.00 with the duration of contravention ranging from four months 13 days to one year 11 months 13 days . | (i) 410,00,096.50 (ii) 4,10,00,000 | 70,900 | |
| 1.293 | M/s. Canalta India Pvt Ltd., | Jul/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3 months 20 days . (ii) 1 months 12 days to 1 months 26 days . | (i) Delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity. (ii) Delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. | The applicant company is engaged in business of manufacture of other iron and steel casting and products thereof. Delay in reporting of receipt of inward remittances towards subscription of equity shares as detailed in paragraph 2 above. The contravention relates to an amount of ₹ 1,01,20,700.00 with the duration of contravention being three months 20 days .Delay in submission of Form FC-GPR to the Reserve Bank after issue of shares to persons resident outside India and the contravention relates to an amount of ₹ 3,71,08,900.00 with the duration of contravention ranging from one month 12 days to one month 26 days . | (i) 101,20,700 (ii) 371,08,900 | 67,000 | |
| 1.294 | M/s. Magnetic Autocontrol Pvt Ltd., | Jul/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 27 days to 14 years 8 months 23 days . (ii) 14 years 9 months 1 days to 15 years 8 months 8 days . | (i) Delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity. (ii) Delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. | The applicant company is engaged in business of manufacture of mechanical and electro-mechanical signalling safety and traffic control equipment for railways, tramways, inland waterways, roads, parking facilities, airfields etc.Delay in reporting of receipt of inward remittances towards subscription of equity shares as detailed in paragraph 2 above. The contravention relates to an amount of ₹ 60,00,150.00 with the duration of contravention ranging from 27 days to 14 years eight months 23 days . Delay in submission of Form FC-GPR to the Reserve Bank after issue of shares to persons resident outside India and the contravention relates to an amount of ₹ 60,00,000.00 with the duration of contravention ranging from 14 years nine months one day to 15 years eight months eight days . | (i) 6,00,150 (ii) 60,00,000 | 204,760 | |
| 1.295 | M/s. S L Lighting India Pvt Ltd., | Jul/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 7 years 7 months 10 days to 7 years 8 months 14 days . | The contravention sought to be compounded is delay in refund of excess inward remittance received towards subscription to shares. | The applicant company is engaged in the business of manufacture of electric lighting equipment. Delay in refund of excess inward remittance received towards subscription to shares with prior approval of Reserve Bank. The contravention relates to an amount of ₹ 1,25,970.00 with the duration of contravention ranging from seven years seven months 10 days to seven years eight months 14 days . | 125,970 | 46,416 | |
| 1.296 | Rajasthan Hospitals Limited | Jul/2018 | FDI | FEMA 4/2000-RB | Process not followed | 1 years and 7 days. | The contravention sought to be compounded is availing of loan from NRI without the issue of NonConvertible Debentures (NCDs) made by public offer. | It was observed that the applicant has contravened the provisions Regulation 5 (i) of Notification No. FEMA 4/2000-RB dated May 03, 2000 as amended from time to time. The amount of contravention is INR 49.80 lakh and the period of contravention is 1 year and 7 days. | 4980 lakh | 7,740,000 | |
| 1.297 | Stallen South Asia Private Limited | Jul/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 9 years 1 months . (ii) 9 years 5 months . | (i) Delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity. (ii) Delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. | It is engaged in the business of wholesale trading of animal health products and feed additives, and deals in drugs, pharmaceutical, medicinal, chemical and hygiene products for animal health.Para 9(1)(A) of Schedule 1 of Notification No. FEMA.20/2000-RB – Amount of contravention – Rs. 1,36,00,000/- and Period of contravention is 9 years 1 month . Para 9(1)(B) of Schedule 1 of Notification No. FEMA.20/2000-RB – Amount of contravention – Rs. 1,36,00,000/- and Period of contravention is 9 years 5 months . | (i) 136,00,000 (ii) 136,00,000 | 945,000 | |
| 1.298 | Vigno Prasath | Jul/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 4 years to 9 years and 8 months . | The contraventions sought to be compounded relate to transfer of shares of an Indian company by the applicant to a person resident outside India without filing the necessary declaration in form FCTRS with the Authorized Dealer (AD) bank and receiving the sale consideration for transfer of such shares on deferred payment basis otherwise than through the permitted methods of payment. | SAPL is engaged in the business of manufacturing of auto components and other related accessories.Receipt of sale consideration on deferred payment basis - The amount of contravention was ₹34,50,000/- and the period of contravention was 9 years and 8 months .Receipt of sale consideration through third parties - The amount of contravention was ₹59,50,000/- and the period of contravention ranges from 8 years and 7 months to 9 years and 8 months .Transfer of shares to a person resident outside India without complying with the documentation requirements - The amount of contravention was ₹59,50,000/- and the period of contravention was 4 years . Thus, the total amount of contravention was ₹1,53,50,000/-. | 15,350,000 | 159,175 | |
| 1.299 | R Mohan | Jul/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 4 years to 9 years and 8 months . | The contraventions sought to be compounded relate to transfer of shares of an Indian company by the applicant to a person resident outside India without filing the necessary declaration in form FCTRS with the Authorized Dealer (AD) bank and receiving the sale consideration for transfer of such shares on deferred payment basis otherwise than through the permitted methods of payment. | The applicant, is a resident individual who was one of the shareholders holding 125000 equity shares of face value of ₹10/- each of Sathya Auto Private Limited (SAPL), an unlisted company incorporated on June 06, 2005 (CIN: U50101TN2005PTC056529) under the Companies Act, 1956. SAPL is engaged in the business of manufacture of auto components and other related accessories.Receipt of sale consideration on deferred payment basis - The amount of contravention was ₹34,50,000/- and the period of contravention was 9 years and 8 months .Receipt of sale consideration through third parties - The amount of contravention was ₹59,50,000/- and the period of contravention ranges from 8 years and 7 months to 9 years and 8 months .Transfer of shares to a person resident outside India without complying with the documentation requirements - The amount of contravention was ₹59,26,200/- and the period of contravention was 4 years . Thus, the total amount of contravention was ₹1,53,02,400/-. | 15,302,400 | 158,842 | |
| 1.300 | R Sundararajan | Jul/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 4 years to 9 years and 8 months . | The contraventions sought to be compounded relate to transfer of shares of an Indian company by the applicant to a person resident outside India without filing the necessary declaration in form FCTRS with the Authorized Dealer (AD) bank and receiving the sale consideration for transfer of such shares on deferred payment basis otherwise than through the permitted methods of payment. | The applicant, is a resident individual who was one of the shareholders holding 125000 equity shares of face value of ₹10/- each of Sathya Auto Private Limited (SAPL), an unlisted company incorporated on June 06, 2005 (CIN: U50101TN2005PTC056529) under the Companies Act, 1956. SAPL is engaged in the business of manufacturing of auto components and other related accessories.Receipt of sale consideration on deferred payment basis - The amount of contravention was ₹34,50,000/- and the period of contravention was 9 years and 8 months . Receipt of sale consideration through third parties - The amount of contravention was ₹59,50,000/- and the period of contravention ranges from 8 years and 7 months to 9 years and 8 months .Transfer of shares to a person resident outside India without complying with the documentation requirements - The amount of contravention was ₹59,50,000/- and the period of contravention was 4 years . Thus, the total amount of contravention was ₹1,53,50,000/-. | 15,350,000 | 159,175 | |
| 1.301 | R Magesh | Jul/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 4 years to 9 years and 8 months . | The contraventions sought to be compounded relate to transfer of shares of an Indian company by the applicant to a person resident outside India without filing the necessary declaration in form FCTRS with the Authorized Dealer (AD) bank and receiving the sale consideration for transfer of such shares on deferred payment basis otherwise than through the permitted methods of payment. | The relevant facts of the case are as follows: The applicant, is a resident individual who was one of the shareholders holding 125000 equity shares of face value of ₹10/- each of Sathya Auto Private Limited (SAPL), an unlisted company incorporated on June 06, 2005 (CIN: U50101TN2005PTC056529) under the Companies Act, 1956. SAPL is engaged in the business of manufacture of auto components and other related accessories.Receipt of sale consideration on deferred payment basis - The amount of contravention was ₹34,50,000/- and the period of contravention was 9 years and 8 months .Receipt of sale consideration through third parties - The amount of contravention was ₹59,50,000/- and the period of contravention ranges from 8 years and 7 months to 9 years and 8 months .Transfer of shares to a person resident outside India without complying with the documentation requirements - The amount of contravention was ₹59,50,000/- and the period of contravention was 4 years . Thus, the total amount of contravention was ₹1,53,50,000/-. | 15,350,000 | 159,175 | |
| 1.302 | Shri Amol Ashok Walke | Jul/2018 | FDI | FEMA 20/2000-RB | In terms of Regulation 10(A)(b)(i) read with paragraph 10 of Schedule I, the transferor or transferee resident has to adhere to the reporting requirements as specified by the Reserve Bank from time to time. Further, in terms of A.P.(DIR Series) Circular No. 63 dated April 22, 2009, form FC-TRS should be submitted to the AD Category-I bank, within 60 days from the date of receipt/payment of the amount of consideration. | 2 months 2 days on 3 occaion. | The contravention sought to be compounded is that the applicant has delayed the filing of form FCTRS. | The applicant was born on October 31, 1983 and resides at D-29, Sushila, Mapusa Housing Board Colony,Mapusa, Goa – 403 507. He has received Rs.88,62,305.60 from M/s Harcros (India) LLC, USA towards transfer of equity shares of three Indian companies. | 886,230,560 | 12,625 | |
| 1.303 | Angular Technologies Pvt. Ltd. | Jul/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 117 days to 407 days. (ii) 97 to 824 days. | (i) delay in reporting of inward remittance against issue of equity shares. (ii) delay in submission of FCGPR to the Reserve Bank after issue of shares. | The applicant is engaged in the business of developing, importing, exporting computer software and providing software, web designing and web hosting etc. | (i) 352,75,68,708 (ii) 382,27,39,458 | 17,527,000 | |
| 1.304 | Ashland India Private Limited | Jul/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 5 years 7 months to 5 years 8 months 10 days, . (ii) 2 days to 4 months 25 days, . (iii) 5 days to 6 years 3 months 7 days, . | (i) allotment of shares to NonResident prior to receipt of consideration. (ii) delay in reporting receipt of foreign inward remittance towards subscription to equity. (iii) delay in submission of Form FCGPR | Its main activities of applicant company are, (i) To carry on the business of manufacturing, processing, packing, distributing, supplying, selling, importing, exporting and trading of chemicals, chemical compounds, oil and oil derivatives, plastics, technical equipment and technical components, as well as rendering of technical services (ii) To perform engineering analysis, design and project management services, provide marketing, sales and support services and carry on research and development activities, investigations and experimental work in relation to the businesses carried on by Ashland group (iii) To assist the Ashland group and the other companies of the group in fulfilling their counter trade obligations. | (i) 1,03,46,100 (ii) 10,60,56,50,700 (iii) 8,18,95,380 | 105,346 | |
| 1.305 | M/s Atlantic Footcare Pvt. ltd. | Jul/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 58 to 212 days. (ii) 98 days . (iii) 52 days . (iv) 46 days . | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity. (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. (iii) delay in allotment of shares beyond stipulated period. (iv) delay in refund of excess amount after the stipulated 180 days without RBI’s permission | The applicant company was incorporated on December 31, 2013, under the provisions of the Companies Act, 1956 and is engaged in carrying on business of manufacturing of footwear soles. | (i) 7235 lakh (ii) 7000 lakh (iii) 7000 lakh (iv) 235 lakh | 79,509 | |
| 1.306 | M/s Hitex Health Care Private Limited | Jul/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 43 days. (ii) 39 days to 155 days. | (i) delay in reporting of inward remittance against issue of equity shares. (ii) delay in submission of FCGPR to the Reserve Bank after issue of shares. | The applicant Company, M/s Hitex Health Care Private Limited is a private Limited company incorporated on May 15, 2014 under the Companies Act 2013. The applicant is engaged in the manufacturing of medical and surgical disposables. | (i) 100,21,357.50 (ii) 441,79,357.50 | 62,762 | |
| 1.307 | Pipa Bella Accessories Private Limited | Jul/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 6 days to 5 months 4 days . (ii) 28 days to 11 months 26 days . (iii) Financial years 2015-16. | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity. (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. (iii) delay in filing ‘Annual Return on Foreign Liabilities and Assets’ (FLA Returns) | Its main activities are to carry on the business of buying, selling, branding, managing of inventory, importing, exporting, transporting, storing, developing, promoting, marketing or supplying, packaging and re-packaging, exhibitors of various goods, services and merchandise, broker, trader, agent, distributor, franchiser, consultant, stockiest, export house of goods, merchandise and services of all grades, specifications, descriptions, applications, modalities, fashions and deal in any commodities, substances, articles, merchandise, goods and things whether solid or liquid or gaseous in any manner whatsoever including but not limited to apparels, jewellery, accessories, perfumeries, cosmetics, food and provisions, household goods, consumer durables, home improvement products, footwear, leather goods, luggage, books & stationery, medical and health care, beauty products, toys and music, computers and accessories, electronic and telecom products, agri input products, furniture and furnishings, automobile and accessories on wholesale basis in India or elsewhere. | (i) 4,09,99,541 (ii) 4,29,11,521 | 49,040 | |
| 1.308 | Mrs Rajini Kodeswaran | Aug/2018 | Acquisition and Transfer of Immovable Property | FEMA 21/2000-RB | As per Regulation 7 of Notification No. FEMA-21/2000-RB dated May 03, 2000, no person being a citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal, Bhutan, Macau or Hongkong without prior permission of the Reserve Bank shall acquire or transfer immovable property in India, other than lease, not exceeding five years. | 9 years 2 months 25 days October 17, 2008 to January 12, 2018 | The contravention sought to be compounded relate to violation of terms and conditions mentioned in RBI letter FED.CO.ND(IP) 224/10.51.000/201516 dated August 19, 2016 and acquisition of immovable property in India by Sri Lankan Citizen without RBI permission. | Mrs Rajini Kodeswaran, a Sri Lankan citizen has acquired an immovable property (admeasuring 570 Sq. ft) viz. Block 1B, Door No. 6, DABC Mithilam, Sriram Nagar, Main Road, Nolambur, Chennai-95 located at No. 62, Nolambur Village, Ambattur Taluk, Tiruvallur District within the Sub-Registration District of Konnur and Registration district of Chennai North, in the year 2008 without obtaining prior permission from the Reserve Bank of India. Subsequently, she has constructed a flat on the same property. | 39,81,085 and 17,98,350 | 1,878,208 | |
| 1.309 | Ananya Finance For Inclusive Growth Pvt. Ltd. | Aug/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 01 to 17 days. (ii) 01 to 822 days . | (i) Delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity. (ii) Delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. | The company is engaged in activities of other credit granting, bearing NIC Code: 64920.Due to delay in reporting of receipt of foreign inward remittances towards subscription of shares as detailed in paragraph 4 above. The amount of contravention involved is ₹12,00,00,100/- and the delay is for 01 to 17 days.Due to delay in submission of form FC-GPR, after issue of shares / CCDs to persons resident outside India as detailed in paragraph 6 above. The amount of contravention involved is ₹13,94,79,830/- and the delay is for 01 to 822 days . | (i) 12,00,00,100 (ii) 13,94,79,830 | 144,500 | |
| 1.310 | Iberchem India Ltd. | Aug/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 21 days. (ii) 3 to 146 days. (iii) . for 3 and 267 days | (i) Delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity. (ii) Delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. (iii) Due to delay in allotment of shares/refund of share application money beyond stipulated period of 180 days from date of receipt | The company is engaged in manufacturing of perfumes and cologne de-eau, bearing NIC Code: 20234.Due to delay in reporting of receipt of foreign inward remittances towards subscription of shares as detailed in paragraph 4 above. The amount of contravention involved is ₹16,91,057/- and the delay is for 21 days.Due to delay in submission of form FC-GPR, after issue of shares to persons resident outside India as detailed in paragraph 6 above. The amount of contravention involved is ₹9,55,94,540/- and the delay is for 3 to 146 days .Due to delay in allotment of shares/refund of share application money beyond stipulated period of 180 days from date of receipt detailed in Paragraph 8 above. The amount involved is ₹37,50,000/- and ₹12,50,000/- respectively and the delay is . for 3 and 267 days respectively. | (i) 16,91,057 (ii) 95,594,540 (iii) 5,000,000 | 135,788 | |
| 1.311 | M/s Finwizard Technology Private Limited | Aug/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 24 days to 10 months and 15 days | The contravention sought to be compounded is delay in submission of Form FCGPR to the Reserve Bank, after issue of shares to a person resident outside India | The company is engaged in the business of providing financial planning services to individuals, firms, corporates and any other bodies, based on a technology platform. Due to delay in submission of Form FC-GPRs to the Reserve Bank, after issue of shares to persons resident outside India as detailed in paragraph 3 above. The contravention relates to an amount of Rs.27,87,50,536.62, and the period of delay ranges from twenty four days to ten months and fifteen days | 27,875,053,662 | 7,030,000 | |
| 1.312 | M/s Dimerco Express (India) Private Limited | Aug/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 years 1 months and 13 days to 4 years 3 months and 21 days. (ii) 2 years 3 months and 2 days to 4 years 3 months and 29 days (iii) 2 years 1 months and 5 days to 4 years 5 months and 14 days. | (i) Delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity. (ii) delay in refund of excess share application money/allotment of shares. (iii) Delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. | The company is engaged in the business of clearing, forwarding, freight forwarding and handling cargo in shipping, railways and all other mode of conveyances.Due to delay in reporting of foreign inward remittances received towards subscription to equity as detailed in paragraph 2 above. The contravention relates to an amount of Rs.1,67,64,577.05, and the period of delay ranges from two years one month and thirteen days to four years three months and twenty one days. Due to refund of excess share application money beyond 180 days from the date of receipt of inward remittances, with prior approval from Reserve Bank of India as detailed in paragraph 3 above. The total amount of contravention is Rs.7,64,587.05, and the period of delay ranges two years three months and two days to four years three months and twenty nine days. Due to delay in submission of Form FC-GPRs to the Reserve Bank after issue of shares to persons resident outside India, as detailed in paragraph 4 above. The contravention relates to an amount of Rs.1,59,99,999.00, and the period of delay ranges from two years one month and five days to four years five months and fourteen days. | (i) 167,64,577.05 (ii) 764,587.05 (iii) 159,99,999 | 19,874,000 | |
| 1.313 | M/s ET Marlabs Private Limited | Aug/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 13 days to 2 months and 1 days. (ii) 1 months and 8een days to 3 months and 7teen days. | (i) Delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity. (ii) Delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. | The company is engaged in the business of information technology and computer services activities.Due to delay in reporting of foreign inward remittances received towards subscription to equity as detailed in paragraph 2 above. The contravention relates to an amount of Rs.1,29,44,251.75, and the period of delay ranges from thirteen days to two months and one day.Due to delay in submission of Form FC-GPRs to the Reserve Bank after issue of shares to persons resident outside India, as detailed in paragraph 3 above. The contravention relates to an amount of Rs.1,29,43,854.99, and the period of delay ranges from one month and eighteen days to three months and seventeen days. | (i) 129,44,251.75 (ii) 129,43,854.99 | 2,720,000 | |
| 1.314 | M/s Dhammanagi and Sanu Developers Private Limited | Aug/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 years 2 months and 8 days to 1 years 8 months and 11 days. | (i) Delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity. | The Company is engaged in the business of construction of buildings carried out on Own- Account Basis or on a fee or contract basis.Due to delay in reporting of foreign inward remittances, received towards subscription to equity as detailed in paragraph 2 above. The contravention relates to an amount of Rs. 23,82,76,000.00, and the period of delay ranges from one year two months and eight days to one year eight months and eleven days. | 23,827,600,000 | 40,150,000 | |
| 1.315 | M/s Locopoco Technology Ventures Private Limited | Aug/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 years 7 months and 8 days. (ii) 1 years 5 months and 28 days. | (i) Delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity. (ii) Delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. | The Company is engaged in the business of building and developing mobile applications.Due to delay in reporting of foreign inward remittances, received towards subscription to equity as detailed in paragraph 2 above. The contravention relates to an amount of Rs. 3,67,13,020.94, and the period of delay is one year seven months and eight days. Due to delay in submission of Form FC-GPR to the Reserve Bank, after issue of shares to persons resident outside India as detailed in paragraph 3 above. The contravention relates to an amount of Rs.3,67,13,020.94, and the period of delay is one year five months and twenty eight days. | (i) 367,13,020.94 (ii) 367,13,020.94 | 17,850,000 | |
| 1.316 | M/s Teoco Software Pvt Ltd | Aug/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 7 years 5 months to 8 years 9 months. (ii) 20 days to 7 years 2 months and 15 days. (iii) 4 years and 10 months. | (i) Delay in submission of form ARF to the Reserve Bank of India after receipt of consideration amount for issue of shares within the stipulated period of 30 days of such issue. (ii) Delay in submission of form FCGPR to the Reserve Bank of India after issue of shares to a company/entity/person resident outside India within the stipulated period of 30 days. (iii) Delay in issue of shares/refund of unutilized share application money beyond the stipulated period of 180 days of receipt of consideration amount and issue of shares prior to receipt of consideration amount. | The applicant is engaged in the business of data processing, software writing, data service centres etc.The contravention of issue 1 relates to an amount of ₹ 53,20,423.13 and the period of delay, rounded off to the next month ranges from 7 years 5 months to 8 years 9 months. The contravention of issue 2 relates to an amount of ₹ 53,20,423.13 and the period of delay, ranges from 20 days to 7 years 2 months and 15 days. The contravention of isue 3 relates to an amount of ₹ 40,00,000 and the period of delay, rounded off to the next month is 4 years and 10 months. | (i) 53,20,423.13 (ii) 53,20,423.13 (iii) 40,00,000 | 155,390 | |
| 1.317 | M/s. Hyderabad Skyscrapers Private Limited | Aug/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 days to 4 years 3 months 26 days . (ii) years 4 months 14 days to 1 years 5 months 23 days . | (i) Delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. (ii) Delay in allotment of shares to a person resident outside India. | The company is engaged in building of complete constructions or parts thereof. Delay in submission of Form FC-GPR to Reserve Bank of India after issue of shares to persons resident outside India and the contravention relates to an amount of ₹ 2,07,34,350/- and the delay ranges from delay ranging from 2 days to 4 years 3 months 26 days .Delay in the allotment of shares to the foreign investor and the contravention relates to an amount of ₹ 1,53,63,646.61 and the delay ranges from 1 year 4 months 14 days to 1 year 5 months 23 days . | (i) 207,34,350 (ii) 1,53,63,646.61 | 331,776 | |
| 1.318 | M/s. Actimus Biosciences Private Limited | Aug/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 days to 4 years 3 months 26 days . (ii) years 4 months 14 days to 1 years 5 months 23 days . (iii) 7 years 1 months 8 days to 10 years 7 months 4 days . | (i) Delay in reporting receipt of foreign inward remittances. (ii) Delay in submission of Form FCGPR to Reserve Bank of India after issue of shares towards subscription to equity. (iii) Delay in allotment of shares to the nonresident investor. | The company is engaged in the business of research and experimental development on natural sciences and engineering. Delay in reporting the receipt of consideration towards issue of shares amounting to 2,64,34,919/- and the delay ranges from 1 day to 9 months 6 days . Delay in submission of Form FC-GPR to Reserve Bank of India after issue of shares to persons resident outside India and the contravention relates to an amount of 9,97,000/- and the period of contravention is 9 months 2 days . Delay in allotment of shares to the foreign investor and the contravention relates to an amount of 2,67,57,247/- and the delay ranges from 7 years 1 month 8 days to 10 years 7 months 4 days . | (i) 264,34,919 (ii) 997,000 (iii) 267,57,247 | 306,557 | |
| 1.319 | M/s. Apollo Cosmetic Surgical Center Private Limited | Aug/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 8 years 11 months 1 days . | The contravention sought to be compounded is, neither the equity instruments were issued nor amount refunded to the foreign investor, a person resident outside India within 180 days from the date of receipt of foreign inward remittance. | The company is engaged in the business of Hospital activities. Delay in refund of unallotted share application money to the foreign investor beyond 180 days from the date of receipt and the contravention relates to an amount of 9,85,250/- and the period of contravention is 8 years 11 months 1 day . | 985,250 | 37,389 | |
| 1.320 | M/s. MyRain Irrigation Pvt Ltd., | Aug/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3 days to 7 years 5 months 28 days . (ii) 4 days to 6 months 16 days . (iii) 16 days to 6 months 12 days . | (i) Delay in reporting of receipt of foreign inward remittances towards subscription of equity. (ii) Delay in submission of Form FCGPR to the Reserve Bank after issue of shares. (iii) Delay in allotment of shares beyond 180 days from the date of receipt of remittance. (iv) Taking on record the transfer of shares in the books of the company without certified FCTRS. | The applicant company is engaged in Business of wholesale of textiles, fabrics, yarn, household linen, articles of clothing, floor coverings and tapestry, sports clothes. Delay in reporting of receipt of inward remittances towards subscription of equity shares as detailed in paragraph 2 above. The contravention relates to an amount of ₹ 16,00,94,831.08 with duration of contravention ranging from three days to seven years five months 28 days . Delay in submission of Form FC-GPR to the Reserve Bank after issue of shares to persons resident outside India. The contravention relates to an amount of ₹ 54,97,31,885.41 with the duration of contravention ranging from four days to six months 16 days . Delay in allotment of shares without prior approval of Reserve Bank. The contravention relates to an amount of ₹1,45,07,415.95 with the duration of contravention ranging from 16 days to six months 12 days . | (i) 16,00,94,831.08 (ii) 54,97,31,885.41 (iii) 145,07,415.95 | 368,043 | |
| 1.321 | M/s. Australian Foods India Pvt Ltd., | Aug/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 11 years 3 months 8 days . | The contravention sought to be compounded is taking on record the transfer of shares in the books of the company without certified FCTRS. | The applicant company is engaged in Business of manufacture of bakery products.Regulation 4 of Notification No. FEMA 20/2000-RB for taking on record transfer of shares without certified FC TRS. The contravention relates to an amount of ₹1,50,05,450/- with the duration of contravention being 11 years three months eight days . | 15,005,450 | 576,500 | |
| 1.322 | M/s. Monexo Fintech Pvt Ltd. | Aug/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 6 months to 7 months 14 days . (ii) 7 months 26 days to 1 years 1 months 5 days . | (i) Delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity. (ii) Delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. | The applicant company is engaged in business of operation of other websites that act as portals to the Internet, such as media sites providing periodically updated content. Delay in reporting of receipt of inward remittances towards subscription of equity shares as detailed in paragraph 2 above. The contravention relates to an amount of ₹ 43,00,000.00 with the duration of contravention ranging from six months to seven months 14 days . Delay in submission of Form FC-GPR to the Reserve Bank after issue of shares to persons resident outside India and the contravention relates to an amount of ₹ 63,00,000.00 with the duration of contravention ranging from seven months 26 days to one year one month five days . | (i) 43,00,00,000 (ii) 63,00,00,000 | 30,405 | |
| 1.323 | M/s.C1X Adtech Pvt Ltd. | Aug/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 days to 1 months 19 days . (ii) 8 months 20 days . | (i) Delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity. (ii) Delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. | The applicant company is engaged in business of writing, modifying, testing of computer program to meet the needs of a particular client excluding web-page designing.Delay in reporting of receipt of inward remittances towards subscription of equity shares as detailed in paragraph 2 above. The contravention relates to an amount of ₹ 1,39,08,131.40 with delay ranging from two days to one month 19 days . Delay in submission of Form FC-GPR to the Reserve Bank after issue of shares to persons resident outside India and the contravention relates to an amount of ₹ 39,28,360.00 with delay of eight months 20 days . | (i) 139,08,13,140 (ii) 39,28,36,000 | 23,060 | |
| 1.324 | M/s. MyRain Irrigation Pvt Ltd., | Aug/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 11 days to 11 months 3 days . (ii) 3 days to 9 months 27 days . (iii) 23 days . (iv) 1 years 9 months 26 days . | (i) Delay in reporting of receipt of foreign inward remittances towards subscription of equity. (ii) Delay in submission of Form FCGPR to the Reserve Bank after issue of shares. (iii) Delay in allotment of shares beyond 180 days from the date of receipt of remittance. (iv) Taking on record the transfer of shares in the books of the company without certified FCTRS. | The applicant company is engaged in Business of other supporting activities including agricultural gardening (excluding parks and gardening activities),n.e.c. Delay in reporting of receipt of inward remittances towards subscription of equity shares as detailed in paragraph 2 above. The contravention relates to an amount of ₹ 80,66,813.97 with duration of contravention ranging from 11 days to 11 months three days . Delay in submission of Form FC-GPR to the Reserve Bank after issue of shares to persons resident outside India. The contravention relates to an amount of ₹ 91,13,660.00 with the duration of contravention ranging from three days to nine months 27 days . Delay in allotment of shares without prior approval of Reserve Bank. The contravention relates to an amount of ₹4,08,800.00 with the duration of contravention being 23 days . Delay in allotment of shares with prior approval of Reserve Bank. The contravention relates to an amount of ₹1,72,830.00 with the duration of contravention being one year nine months 26 days . | (i) 80,66,81,397 (ii) 91,13,66,000 (iii)408,80,000 (iv) 172,83,000 | 123,258 | |
| 1.325 | M/s.GAVS Technologies Pvt Ltd | Aug/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 months 13 days to 7 months 23 days . (ii) 7 years 4 months 21 days to 7 years 5 months 12 days . (iii) 2 months 14 days . | (i) Delay in reporting of receipt of foreign inward remittances towards subscription of equity. (ii) Delay in submission of Form FCGPR to the Reserve Bank after issue of shares. (iii) Delay in allotment of shares beyond 180 days from the date of receipt of remittance. | The applicant company is engaged in business of writing, modifying, testing of computer program to meet the needs of a particular client excluding web-page designing.Delay in reporting of receipt of inward remittances towards subscription of equity shares as detailed in paragraph 2 above. The contravention relates to an amount of ₹2,47,25,941.00 with delay ranging from one month 13 days to seven months 23 days . Delay in submission of Form FC-GPR to the Reserve Bank after issue of shares to persons resident outside India and the contravention relates to an amount of ₹ 2,47,25,940.00 with delay ranging from seven years four months 21 days to seven years five months 12 days . Delay in allotment of shares without prior approval of Reserve Bank. The contravention relates to an amount of ₹15,96,120.00 with the duration of contravention of two months 14 days . | (i) 247,25,94,100 (ii) 247,25,94,000 (iii) 15,96,12,000 | 463,410 | |
| 1.326 | M/s.Petterssons India Pvt Ltd | Aug/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 4 days . (ii) 1 months 2 days to 1 months 25 days . | (i) Delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity. (ii) Delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. | The applicant company is engaged in business of machining; treatment and coating of metals. Delay in reporting of receipt of inward remittances towards subscription of equity shares as detailed in paragraph 2 above. The contravention relates to an amount of ₹ 3,46,06,000.00 with duration of contravention being four days . Delay in submission of Form FC-GPR to the Reserve Bank after issue of shares to persons resident outside India and the contravention relates to an amount of ₹ 8,54,90,880.00 with duration of contravention ranging from one month two days to one month 25 days . | (i) 346,06,00,000 (ii) 854,90,88,000 | 49,500 | |
| 1.327 | M/s. Straits Trading Company Pvt Ltd., | Aug/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) years 11 months 27 days . (ii) 1 months 18 days to 5 years 1 months 25 days . (iii) 7 years 6 months 7 days . | (i) Delay in reporting of receipt of foreign inward remittances towards subscription of equity. (ii) Delay in submission of Form FCGPR to the Reserve Bank after issue of shares. (iii) Delay in refund of excess inward remittance received. | The applicant company is engaged in business of wholesale trade of cereals & pulses.Delay in reporting of receipt of inward remittances towards subscription of equity shares as detailed in paragraph 2 above. The contravention relates to an amount of ₹ 2,50,000.00 with duration of contravention being four years 11 months 27 days . Delay in submission of Form FC-GPR to the Reserve Bank after issue of shares to persons resident outside India. The contravention relates to an amount of ₹ 1,16,55,670.00 with the duration of contravention ranging from one month 18 days to five years one month 25 days . Delay in refund of excess inward remittance with prior approval of Reserve Bank. The contravention relates to an amount of ₹1,55,000.00 with the duration of contravention being seven years six months seven days . | (i) 250,00,000 (ii) 116,55,67,000 (iii) 155,00,000 | 86,040 | |
| 1.328 | M/s. Rosti Technical Plastics (India) Pvt Ltd., | Aug/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 19 days to 2 months 4 days . (ii) 10 days to 3 months 6 days . | (i) Delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity. (ii) Delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. | The applicant company is engaged in business of manufacture of other plastic products n.e.c.Delay in reporting of receipt of inward remittances towards subscription of equity shares as detailed in paragraph 2 above. The contravention relates to an amount of ₹ 5,28,99,250.00 with the duration of contravention ranging from 19 days to two months four days . Delay in submission of Form FC-GPR to the Reserve Bank after issue of shares to persons resident outside India and the contravention relates to an amount of ₹ 7,97,48,150.00 with the duration of contravention ranging from 10 days to three months six days . | (i) 528,99,25,000 (ii) 797,48,15,000 | 105,930 | |
| 1.329 | M/s. Daimler India Commercial Vehicles Private Ltd | Aug/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3 days to 7 days . (ii) 4 months 1 days to 5 months 17 days . 13.1(2) 2 months 23 days . | (i) Delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity. (ii) Delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India in terms of Regulation 13.1(1) and Regulation 13.1(2) of Notification No. FEMA 20(R)/2017RB dated November 07, 2017. | The applicant company is engaged in business of manufacture and sale of commercial vehicles.Regulation 13.1(1) to Notification No. FEMA 20(R)/2017-RB due to delay in reporting of receipt of inward remittances towards subscription of equity shares as detailed in paragraph 2a above. The contravention relates to an amount of ₹1515,29,20,000.00 with duration of contravention ranging from three days to seven days . Paragraph 9 (1) B of Schedule 1 to Notification No. FEMA 20/2000-RB due to delay in submission of Form FC-GPR to the Reserve Bank after issue of shares to persons resident outside India and the contravention relates to an amount of 2248,63,89,240.00 with duration of contravention ranging from four months one day to five months 17 days AND Regulation 13.1(2) to Notification No. FEMA 20(R)/2017-RB due to delay in submission of Form FC-GPR to the Reserve Bank after issue of shares to persons resident outside India and the contravention relates to an amount of ₹ 1892,65,40,000.00 with duration of contravention being two months 23 days . | (i) 15,15,29,20,000 (ii) 22,48,63,89,240 (iii) 18,92,65,40,000 | 402,000 | |
| 1.330 | M/s. Harris & Menuk Chemicals Pvt Ltd | Aug/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 months 6 days to 1 months 22 days . (ii) 3 days to 7 months 10 days . | (i) Delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity. (ii) Delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. | The applicant company is engaged in business of other activities relating to finishing of textile n.e.c.Delay in reporting of receipt of inward remittances towards subscription of equity shares as detailed in paragraph 2 above. The contravention relates to an amount of ₹ 79,20,507.56 with delay ranging from one month six days to one month 22 days . Delay in submission of Form FC-GPR to the Reserve Bank after issue of shares to persons resident outside India and the contravention relates to an amount of ₹ 2,06,13,835.00 with delay ranging from three days to seven months 10 days . | (i) 79,20,50,756 (ii) 206,13,83,500 | 27,085 | |
| 1.331 | M/s. Primeplan Green Energy Pvt Ltd | Aug/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3 years 10 months 7 days to 4 years 8 months 22 days . (ii) 3 years 10 months 1 days to 4 years 3 months 17 days . | (i) Delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity. (ii) Delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. | The applicant company is engaged in business of electric power generation using solar energy. Delay in reporting of receipt of inward remittances towards subscription of equity shares as detailed in paragraph 2 above. The contravention relates to an amount of ₹ 2,30,89,154.00 with delay ranging from three years 10 months seven days to four years eight months 22 days . Delay in submission of Form FC-GPR to the Reserve Bank after issue of shares to persons resident outside India and the contravention relates to an amount of ₹ 2,30,82,000.00 with delay ranging from three years 10 months one day to four years three months 17 days . | (i) 230,89,15,400 (ii) 230,82,00,000 | 528,880 | |
| 1.332 | Acko Technology & Services Private Limited | Aug/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | Financial years 2016-17. | The contravention sought to be compounded is delay in filing ‘Annual Return on Foreign Liabilities and Assets’ (FLA Returns). | Its main activities are to carry on the business of providing technology and outsourced services, establishing, running and managing data processing computer centres for development and implementation of technology products, data communication systems process or sub processes that are enabled by information technology including date, voice or video collection, call centre services, in-bound and out-bound calling services of all kinds, technical support, managed data centre, managed technical centre, web support back office, business or financial analysis, scientific analysis, research work and analysis, storage, disaster recovery, inventory management,etc. | NIL | 10,000 | |
| 1.333 | Aditya Birla Idea Payments Bank Limited | Aug/2018 | FDI | FEMA 20/2000-RB | Delay in meeting the minimum capitalization norms. | 2 years 4 months . | The contravention sought to be compounded is, delay in meeting the minimum capitalization norms beyond the stipulated time period. | It is engaged in the business of banking, i.e., to accept deposits from individuals, small businesses, other entities and public, as permitted by the Reserve Bank of India from time to time. The applicant is the successor entity of Idea Mobile Commerce Services Limited (IMCSL).IMCSL was engaged in the business of issuing prepaid payment instruments (PPIs). As per the extant guidelines, the activity of issuing PPIs is covered under the 18 permitted NBFC activities where foreign investment is permitted under 100% automatic route subject to complying with minimum capitalization norms.Then IMCSL became WOS of some other foreign entity. Regulation 5(1) of Notification No. FEMA 20/2000-RB permits purchase of shares by certain persons resident outside India under Foreign Direct Investment Scheme, subject to terms and conditions specified in Schedule I. Further, Paragraph 24.2(1)(ii), later renamed as Paragraph F.8.2(1)(iii) of Annexure B of Schedule I of Notification No. FEMA 20/2000-RB specifies the minimum capitalization norms subject to which foreign investment in NBFC is allowed under the automatic route. It specifies the same as “US $5 million for foreign capital more than 51% and up to 74% to be brought up front.” | 267,900,000 | 1,657,400 | |
| 1.334 | Aircom International India Private Limited | Aug/2018 | FDI | FEMA 3/2000-RB | Paragraph 1(iii) of Schedule I to FEMA Notification No. FEMA.3/2000-RB, provides that “The borrowings in foreign currency by way of issue of bonds, floating rate notes or other debt Instruments by whatever name called may be made from – (a) International bank or export credit agency or international capital market, or (b) Multilateral financial institutions, namely, IFC, ADB, CDC etc., or (c) Foreign collaborator or foreign equity holder as specified by the Reserve Bank, or (d) Supplier of equipment provided the amount of loan raised does not exceed the total cost of the equipment being supplied by the lender, or (e) Any other eligible entity as prescribed by the Reserve bank in consultation with the Government of India.” Paragraph 1(iv) of Schedule I to FEMA Notification No. FEMA.3/2000-RB provides the end-uses for which ECB is permitted. However, loan towards ‘lease deposit for office premises’ is not a permitted end-use. Paragraph 1(xi) of Schedule I to FEMA Notification No. FEMA.3/2000-RB states that, “draw-downs of borrowing in foreign exchange shall be made strictly in accordance with the terms of the loan agreement only after obtaining the loan registration number from the Reserve Bank”. Paragraph 1 (xii) of Schedule I to FEMA Notification No. FEMA.3/2000-RB states that “The borrower shall adhere to the reporting procedure as specified by the Reserve Bank from time to time”. | 4 months to 7teen years . | (i) availing ECB from a nonrecognized lender. (ii) availing ECB for an enduse that was not permitted. (iii) drawdown of External Commercial Borrowing (ECB) before obtaining Loan Registration Number (LRN) from the Reserve Bank of India (RBI) (iv) delay in meeting the reporting requirements. | It is engaged in the business of import of software for further resale in India and export of management services, software consultancy and training services, and is the wholly owned subsidiary of M/s Aircom International Limited, UK. The applicant company raised foreign currency loan of GBP 75,000 (equivalent to INR 51,15,398) on February 07, 2001 from M/s Aircom International Limited, UK for general corporate expenses. The lender was not a recognized lender at the time and became eligible only from June 2001. Further, the loan was drawn down without obtaining LRN and reporting requirements were not adhered to. | 60,791,284 | 505,935 | |
| 1.335 | Anjali Ashok Walke | Aug/2018 | FDI | FEMA 20/2000-RB | In terms of Regulation 10(A)(b)(i) read with paragraph 10 of Schedule I, the transferor or transferee resident has to adhere to the reporting requirements as specified by the Reserve Bank from time to time. Further, in terms of A.P.(DIR Series) Circular No. 63 dated April 22, 2009, form FC-TRS should be submitted to the AD Category-I bank, within 60 days from the date of receipt/payment of the amount of consideration. | 2 months 2 days . | The applicant has sought to be compounded for delay in reporting the transfer of shares in Form FCTRS beyond the stipulated time period. | The applicant, a resident individual by the name of Ms. Anjali Ashok Walke, held certain shares in three companies, namely, M/s Esteem Industries Private Limited, M/s Grand Organics Private Limited and M/s Venus Ethoxyethers Private Limited. She transferred the shares to M/s Harcos (India) LLC, an entity incorporated in USA in December 2015 (wholly owned by M/s Harcos Chemicals Inc., USA). | 7,975,159,295 | 22,500 | |
| 1.336 | Intas Pharmaceuticals Limited | Aug/2018 | ODI | FEMA 120/RB-2004 | Delay in reporting. In terms of Regulation 15 (iii) of Notification No.FEMA.120/2004-RB, “An Indian Party which has acquired foreign security in terms of the Regulation in Part I shall submit to the Reserve Bank, through the designated Authorized Dealer, every year on or before a specified date, an Annual performance Report (APR) in Part III of Form ODI in respect of each JV or WOS outside India…..”. | 6 years. | The applicant has sought the compounding for delayed submission of Annual Performance Reports (APR) beyond the stipulated time period. | The applicant is engaged in the business of importing, exporting, manufacturing and dealing in pharmaceuticals, medical, chemical, industrial preparations and articles etc. | 20,685,000 | 60,000 | |
| 1.337 | BWF Tec India Private Limited | Aug/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 15 days to 2 years 20 days . (ii) 5 days to 8 years 10 months 2 days . (iii) 10 days to 8 years 7 months 20 days . (iv) Financial years 2008-09, 2009-10, 2010-11, 2011-12 and 2012-13. | (i) neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India within 180 days of the receipt of the inward remittance. (ii) delay in reporting receipt of foreign inward remittance towards subscription to equity. (iii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. (iv) delay in filing ‘Annual Return on Foreign Liabilities and Assets’ (FLA Returns) | Its main activities are (i) To carry on in India or elsewhere whether directly or through subsidiaries or in partnership or otherwise the business of manufacturers, buyers, sellers, importers, exporters, assemblers, wholesalers, retailers, traders, dealers, producer, agents (including C&F agents), franchisee, brokers, distributors and factors of textile filter media for dust cleaning of industrial processes like steel, aluminum, cement, waste incinerators, coal fired plants and other industrial process. (ii) To carry on in India or elsewhere whether directly or through subsidiaries or in partnership or otherwise the business as importers and exporters of goods or merchandise or services of any description and to act as commission agents, advertising agents, forwarding and cleaning agents, transport agents, brokers and indenting agents in local and international trade, services, deals of any nature. | (i) 1,54,84,304 (ii) 26,83,68,324 (iii) 30,99,37,480 | 1,599,805 | |
| 1.338 | Invesco Asset Management (India) Private Limited | Aug/2018 | FDI | FEMA 20/2000-RB | Regulation14 (6)(i) of FEMA 20 states that “Downstream investment by an Indian company, which is not owned and / or controlled by resident entity/ies, into another Indian company, would be in accordance / compliance with the relevant sectoral conditions on entry route, conditionalities and caps, with regard to the sectors in which the latter Indian company is operating….”. Para 2(1) of Schedule 1 to FEMA 20 as amended from time to time states that “....An Indian company, not engaged in any activity / sector mentioned in Annex A to this Schedule may issue [shares or convertible debentures or warrants] to a person resident outside India, subject to the limits prescribed in Annex B to this Schedule, in accordance with the Entry Routes specified therein and the provisions of Foreign Direct Investment Policy….” Further, as per SI.No.F.8 of Annex B to Schedule 1 of FEMA 20 foreign investment in ‘Other Financial Services’, other than those specifically stated therein, would require prior approval of the Government. | 5 months . | The contraventions sought to be compounded are the indirect foreign investment in M/s MF Utilities India Private Limited (MFU) by M/s Invesco Asset Management (India) Private Limited without prior Government approval. | M/s Invesco Asset Management (India) Private Limited is an Asset Management Company (AMC). On June 30, 2014, MF Utilities India Private Limited (MFU) issued 5,00,000 equity shares of Rs. 1 each amounting to Rs.5,00,000 to the applicant. At the time of this investment 51% shareholding of the applicant was held by resident entities [Religare Securities Ltd. (RSL) 46.5% and RGAM Investment Advisors Pvt. Ltd.(RGAM) - 4.5%], subsequently on April 07, 2016, RSL and RGAM transferred their shareholding of 51% to Invesco Hong Kong Ltd., and Invesco Asset Management Pacific Ltd. The applicant thus became a foreign owned and controlled company and accordingly, investment in MFU by the applicant became an indirect foreign investment in MFU. | 500,000 | 52,500 | |
| 1.339 | Jetair Private Limited | Aug/2018 | FDI | FEMA 20/2000-RB | According to Regulation 14(6)(ii)(a) of Notification No.FEMA.20/2000-RB, as then applicable, “Downstream investments by Indian companies will be subject to the following conditions: (a) such a company has to notify Secretariat for Industrial Assistance, DIPP and FIPB of its downstream investment in the form available at….within 30 days of such investment…”. | 2 years 11 months . | The applicant has sought to be compounded for the delay in reporting of downstream investment to the designated agencies within 30 days of such investment. | The applicant company, owned and controlled by non-resident entities, is engaged in the business of acting as travel and tourist agents for every mode of travel by sea, air or land, and arranging for tourists and travelers, the provision of conveniences, reserve places, hotel and lodging accommodation etc. The applicant company made downstream investment in India to the extent of Rs. 4,81,00,000/- into M/s Jetair Tours Private Limited, in May 2015. This downstream investment made by the applicant company, on account of the aforesaid indirect FDI, was required to be reported to the (then) Secretariat of Industrial Assistance (SIA), Department of Industrial Policy and Promotion (DIPP) and the then Foreign Investment Promotion Board (FIPB) within 30 days of such investment as required by Regulation 14(6)(ii)(a) of Notification No. FEMA 20/2000-RB dated May 3, 2000. | 48,100,000 | 155,833 | |
| 1.340 | Keselec Lighting Private Ltd | Aug/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 4709 days. (ii) 4729 days . | (i) delay in reporting of inward remittance against issue of equity shares. (ii) delay in submission of FCGPR to the Reserve Bank after issue of shares. | The company is engaged in the business of manufacturing of Electric/ Electronic lighting fitting. | (i) 61,41,571 (ii) 80,00,940 | 208,000 | |
| 1.341 | M/s Manitech Marine and Industrial Engineering Pvt Ltd | Aug/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 days. (ii) 2 months 10 days to 1 years 3 months 22 days . | (i) delay in reporting of inward remittance against issue of equity shares. (ii) delay in submission of FCGPR to the Reserve Bank after issue of shares. | The applicant is a company registered as a private limited company, incorporated on September 08, 2016 under the Companies Act, 1956 (CIN: U74999GA2016PTC012991) with the main object of undertaking the business of industrial and marine engineering. | (i) 20,27,738 (ii) 27,50,60,000 | 13,912 | |
| 1.342 | Masco Home Products Private Limited | Aug/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 18 days to 01 years 05 months 17 days . (ii) 05 months 26 days to 02 years 03 months 13 days . (iii) Financial years 2008-09 and ed FLA return for the Financial years 2013-14. | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity. (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. (iii) delay in filing ‘Annual Return on Foreign Liabilities and Assets’ (FLA Returns) | Its main activities are to carry on the business of designers, manufacturers, producers, fabricators, assemblers, importers, exporters, buyer, sellers, of all kinds of home products, including without limitation cabinets, household fittings, home furnishing, cabinets, and household requisites of all kinds and all things capable of being used therewith or in maintenance, repairs thereof. | (i) 3,88,00,000 (ii) 3,87,99,700 | 112,065 | |
| 1.343 | ME Indian Conferences Private Limited | Aug/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 years 1 months 26 days to 2 years 9 months 24 days, . (ii) 25 days to 1 years 10 months 21 days, . (iii) 19 days to 5 months 20 days, . | (i) neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India, within 180 days of the receipt of the inward remittance. (ii) delay in reporting receipt of foreign inward remittance towards subscription to equity. (iii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. | Its main activities are to carry on, undertake, promote and execute in any part of India or abroad on national and international level, the business for sale and production of global summits, strategic business conferences, seminars, congresses, corporate marketing events, sport hospitality and business language training programs and for that purpose to carry out market surveys, researches, training programs, development activity and other similar activities to carry on the business for production of market analysis report on line subscription products and business publications, market research, business of internet products, sales promotion drive, seminars, exhibitions, trade fair and other similar activities for and on behalf of the company and to take up or take part or act as an advisor/ consultants in market surveys, market research and development activity for the same. | 317,426,535 | 84,912 | |
| 1.344 | Take Business Cloud Private Limited | Aug/2018 | ODI | FEMA 120/RB-2004 | (i) Regulation 6(2)(vi) of FEMA 120/2004, the Indian Party making direct investment in a JV/WOS outside India has to submit Part I of Form ODI, duly completed, to the designated branch of an Authorized Dealer bank, the applicant did not report the investments made in the overseas entity within the prescribed time period of 30 days thereby contravening the said FEMA regulation. (ii) Regulation 15(i) of FEMA 120/2004, “an Indian Party, which has acquired foreign security.….shall receive share certificates or any other document as an evidence of investment in the foreign entity to the satisfaction of the Reserve Bank within six months, or such further period as Reserve Bank may permit, from the date of effecting remittance or the date on which the amount to be capitalized became due to the Indian Party or the date on which the amount due was allowed to be capitalized”. (iii) regulation 16(1)(v) of Notification No. FEMA 120/2004-RB, ‘An Indian Party may transfer, by way of sale to another Indian Party ……, or to a person resident outside India, any share or security held by it in a JV or WOS outside India subject to the condition that …the overseas concern has been in operation for at least one full year and the Annual Performance Report together with the audited accounts for that year has been submitted to the Reserve Bank. Whereas the applicant disinvested its stake in the overseas WOS without submission of APRs thereby contravening the said FEMA regulation. (iv) regulation 16(1A) Notification No. FEMA 120/2004-RB an Indian Party may disinvest its stake in an overseas entity, if the amount to be repatriated on disinvestment is less than the amount of the original investment where the Indian Party is an unlisted company and the investment in the overseas venture does not exceed USD 10 million. | (i) 10 years and 4 months . (ii) 9 years and 11 months . (iii) years and 5 months . (iv) 5 years . | (i) delay in reporting the outward remittances made to the overseas entity. (ii) delay in receipt of the share certificate towards the outward remittance made to the overseas entity. (iii) undertaking disinvestment of the stake in the overseas entity with writeoff without necessary prior approval when the applicant was not eligible to undertake disinvestment under the automatic route and. (iv) disinvestment from the overseas entity without submission of Annual Performance Reports (APRs). | The applicant, Take Business Cloud Private Limited (TBCPL), was incorporated on February 08, 2007 under the Indian Companies Act, 1956. The CIN of the applicant company is U72900TN2007PTC062313. The applicant made an outward remittance amounting to USD 21 million (₹92,82,00,000/-) on March 20, 2007 through its designated Authorized Dealer (AD) bank to the overseas entity in USA viz Navitas Inc (formerly Take Solutions Inc). As the applicant was an unlisted company and the amount of the overseas direct investment in the overseas entity was in excess of USD 10 million, the applicant was not permitted to undertake disinvestment with write-off under the automatic route. The applicant, however, disinvested its stake in the overseas entity on March 26, 2012 with write-off and transferred its stake to another overseas entity viz Take Solutions Global Holdings Pte Ltd, Singapore. | (i) USD 21 million (928200000) (ii) USD 21 million (928200000) (iii) USD 18468121 (947229904) (iv) USD 18468121 (947229904) | 14,978,167 | |
| 1.345 | Take Solutions Limited | Aug/2018 | ODI | FEMA 120/RB-2004 | (i) regulation 6(2)(v) of Notification No. FEMA 120/2004-RB, the Indian Party must route all transactions relating to the investment in a JV/ WOS through only one branch of an authorized dealer to be designated by it, the applicant made outward remittances through bank other than the designated AD bank thereby contravening the said FEMA regulation. (ii) regulation 13 of Notification No. FEMA 120/2004-RB ‘A JV / WOS set up by the Indian party as per the Regulations may diversify its activities / set up step down subsidiary / alter the shareholding pattern in the overseas entity Provided the Indian party reports to the Reserve Bank, the details of such decisions taken by the JV / WOS within 30 days of the approval of those decisions by the competent authority concerned of such JV / WOS’ Whereas the disinvestment of the step-down subsidiary (SDS) was reported with delay by the applicant thereby contravening the said FEMA regulation. (iii) regulation 16(1)(v) (iv) regulation 15(iii) | (i) 8 years and 6 months to 8 years and 8 months . (ii) 7 years and 1 months . (iii) 5 years . (iv) The APR for 5 years wa ubmitted with . | (i) making remittances to overseas entity through banks other than the designated Authorized Dealer (AD) bank. (ii) delay in reporting of the disinvestment of the stepdown subsidiary. (iii) delay in submission of Annual Performance Reports (APRs) in respect of the overseas entity. (iv) disinvestment from the overseas entity without submission of APRs. | The company is engaged in the business of supply chain solutions providing niche services to top pharma companies in regulatory, safety and clinical verticals. During the period 2005-2008, the applicant made outward remittances amounting to USD 11.4 million (₹49,84,57,138/-) through its Authorized Dealer (AD) banks, viz HSBC bank until March 2007 and through YES bank thereafter to its overseas wholly-owned subsidiary (WOS) in USA viz Navitas Inc (formerly known as Take Solutions Inc) towards subscription to equity shares. Navitas Inc was a joint venture between TSL and Take Business Cloud Private Limited (TBCL), another Indian group company, in which TSL was holding 35.19% with TBCL holding the remaining 64.81% of total share capital. In addition to the above outward remittances towards equity in overseas WOS, the applicant further made following remittances through bank other than the designated AD bank | (i) USD 4983630 (235442726) (ii) USD 27442602 (1113620789) (iii) USD 9770567 (501132371) (iv) USD 9770567 (501132371) | 6,850,414 | |
| 1.346 | Take Solutions Limited | Aug/2018 | ODI | FEMA 120/RB-2004 | (i) In terms of regulation 16(2) of Notification No. FEMA 120/2004-RB, ‘Sale proceeds of shares / securities shall be repatriated to India immediately on receipt thereof and in any case not later than 90 days from the date of sale of the shares / securities and documentary evidence to this effect shall be submitted to the Regional office of the Reserve Bank through the designated authorized dealer’ Whereas the applicant repatriated the proceeds towards disinvestment of its stake in the overseas entity with delay beyond the prescribed time thereby contravening the said FEMA regulation. (ii) regulation 16(1)(v) (iii) regulation 15(iii) | (i) 1 months . (ii) 5 years and 1 months . (iii) The APR for 3 years wa ubmitted with . | (i) repatriation of disinvestment proceeds with delay. (ii) delay in submission of Annual Performance Reports (APRs) in respect of the overseas entity. (iii) disinvestment from the overseas entity without submission of APRs | The company is engaged in the business of supply chain solutions providing niche services to top pharma companies in regulatory, safety and clinical verticals. During the period 2008-2010, the applicant made outward remittances amounting to USD 11,98,500 towards participation in equity and USD 169,500 towards loan to an overseas joint venture company in Oman viz Towell-Take Investments LLC. The overseas entity was a joint venture wherein the TSL was holding 51% of the total paid up share capital amounting to OMR 5,07,909 and the remaining shares of 49% were held by the JV partner i.e. Towell Group of Oman. | (i) USD 1185552 (60806962) (ii) USD 1185552 (60806962) | 890,087 | |
| 1.347 | Muthukumar Ayarpadde | Aug/2018 | FDI | FEMA 20/2000-RB | In terms of regulation 3 of Notification No. FEMA 20/2000-RB, as then applicable, ‘Save as otherwise provided in the Act, or rules or regulations made thereunder, no person resident outside India shall issue or transfer any security.’ Whereas the applicant acquired the shares of an Indian company the sale consideration for which was paid on deferred payment basis otherwise than through the permitted methods of payment i.e. through the third parties, thereby contravening the said FEMA provisions. In terms of regulation 9(2)(ii) of Notification No. FEMA 20/2000-RB, as then applicable, ‘A non-resident Indian may transfer by way of sale or gift, the shares or convertible debentures or warrants of an Indian company or units of an Investment Vehicle held by him or it to another non-resident Indian only.’ Whereas the applicant transferred the shares of an Indian company to a non-resident entity without obtaining prior approval from the Reserve Bank thereby contravening the said FEMA provisions. | (i) 8 years and 7 months to 9 years and 8 months . (ii) 8 years and 8 months . | (i) acquisition of the shares of an Indian Company from its resident shareholders on deferred payment basis otherwise than through the permitted methods of payment in contravention of regulation 3. (ii) transfer of shares of an Indian company from nonresident Indian (NRI) to a nonresident entity without obtaining prior approval from the Reserve Bank | The applicant is an NRI who purchased 499,500 equity shares of face value of ₹10/- each of Sathya Auto Private Limited (SAPL), an unlisted Indian company incorporated on June 06, 2005 (CIN: U50101TN2005PTC056529) under the Companies Act, 1956. SAPL is engaged in the business of manufacturing of auto components and other related accessories. The NRI investor, Mr. Muthukumar Ayarpadde, intended to acquire the stake in SAPL through ‘A-Rank Holdings Private Limited’ (AHPL), an Indian company. Accordingly, the applicant infused funds in AHPL from his NRE a/c with Bank of Baroda. The above 499,500 shares were transferred to Mr. Ayarpadde for which the entire consideration amounting to ₹2,37,76,200/- was routed through the third parties viz AHPL and SAPL, which was in contravention of regulation 3. part of the consideration amounting to ₹1,37,76,200/- was paid over a period of one year without obtaining prior approval from the Reserve Bank for deferred payment which was in contravention of regulation 3.Mr. Ayarpadde subsequently transferred all the shares (499,500 shares) to another non-resident entity viz MK Auto Components Limited (MKAL) on June 06, 2008. | (i) 37552400 (ii) 23776200 | 559,965 | |
| 1.348 | Wipro Limited | Aug/2018 | ODI | FEMA 120/RB-2004 | In terms of Regulation 6(4) of Notification No. FEMA.120/2004-RB, as then applicable, “An Indian Party may extend a loan or a guarantee to or on behalf of the Joint Venture/ Wholly Owned Subsidiary abroad, within the permissible financial commitment, provided that the Indian Party has made investment by way of contribution to the equity capital of the Joint Venture.” | 8 years 1 months to 10 years 2 months . | The applicant has sought the compounding for issuance of corporate guarantees by the applicant on behalf of its overseas stepdown subsidiaries beyond the 1st level subsidiary, without prior approval of the Reserve Bank of India. | The applicant is engaged in the business of providing software and IT services including software development, software customization, self-developed software sales and related technical consultancy and support services, system integration, system maintenance, system operation support etc. The applicant incorporated multiple wholly owned subsidiaries (WOSs) abroad, out of which three, namely, Wipro Holdings (Mauritius) Limited, Wipro Cyprus Private Limited and Wipro LLC (formerly known as Wipro Inc.), were incorporated on April 30, 1997, July 30, 2007 and May 24, 1999 respectively. The applicant issued corporate guarantees in favor of step-down subsidiaries (SDSs) of these WOSs, beyond the 1st level, without prior approval of the Reserve Bank of India, in contravention of Regulation 6(4) of Notification No. FEMA 120/2004-RB. | 8,557,149,166 | 6,917,862 | |
| 1.349 | Proserv India Oil and Gas Solutions LLP | Aug/2018 | FDI | FEMA 20/2000-RB | Regulation 5(9) of Notification No. FEMA 20/2000-RB states that, “A person resident outside India (other than a citizen of Pakistan or Bangladesh) or an entity incorporated outside India, (other than an entity in Pakistan or Bangladesh), not being a registered Foreign Institutional Investor or Foreign Venture Capital Investor or Qualified Foreign Investor registered with SEBI or Foreign Portfolio Investor registered in accordance with SEBI guidelines, may contribute foreign capital either by way of capital contribution or by way of acquisition/ transfer of profit shares in the capital structure of an LLP under Foreign Direct Investment, subject to the terms and conditions as specified in Schedule 9.” Further, Paragraph 7(i) of Schedule 9 of the abovementioned regulations specifies a time period of 30 days from the date of receipt of the amount of consideration, within which the LLP shall submit a report in Form Foreign Direct Investment – LLP(I) to the Reserve Bank of India. | 4 days to 1 years 2 months . | The applicant has sought to be compounded for delay in reporting the receipt of remittances in Form Foreign Direct Investment – LLP(I), beyond the stipulated time period of 30 days. | The applicant is a Limited Liability Partnership (LLP) (LLPIN - AAH-4124), formed on November 28, 2017, with M/s Proserv Operations Limited and M/s Proserv UK limited (both the entities incorporated outside India) as partners. | 24,536,700 | 110,583 | |
| 1.350 | Raks Pharma Private Limited | Aug/2018 | FDI | FEMA 20/2000-RB | Regulation 5(1) of Notification No. FEMA 20/2000-RB permits purchase of shares by certain persons resident outside India under Foreign Direct Investment Scheme, subject to terms and conditions specified in Schedule I. Further, Paragraph 25.2, later renamed as Paragraph 17.2 of Annexure B of Schedule I of Notification No. FEMA 20/2000-RB classifies the brownfield pharmaceuticals sector under the approval route category. | 4 years 8 months to 5 years . | The applicant has sought the compounding for receipt of foreign investment in a company engaged in brownfield pharmaceutical business, without prior approval of the then Foreign Investment Promotion Board (FIPB). | The applicant is engaged in the pharmaceutical industry. Its entire equity share capital is currently held by Amneal Singapore Private Ltd, which is held by the ultimate parent company Amneal Holdings LLC, USA. Currently, the entire shareholding of the applicant company has been acquired by Amneal, Singapore Private Limited from Amneal Pharma Investment Holding, Mauritius, after a group restructuring. | 36,377,975 | 308,686 | |
| 1.351 | Unitech Wireless (Tamilnadu) Private Limited | Aug/2018 | FDI | FEMA 20/2000-RB | In terms of regulation 7(1)( c) of FEMA 20 ‘Where a Scheme of merger or amalgamation of two or more Indian companies or a reconstruction by way of de-merger or otherwise of an Indian company, has been approved by a Court in India, the transferee company or, as the case may be, the new company may issue shares to the shareholders of the transferor company resident outside India, subject to the condition that …. the transferee or the new company files a report within 30 days with the Reserve Bank giving full details of the shares held by persons resident outside India in the transferor and the transferee or the new company, before and after the merger / amalgamation / reconstruction’ | 3 years 8 months . | The applicant has sought the compounding for delay in reporting the allotment of shares in FormFCGPR pursuant to an amalgamation, beyond the stipulated time period of 30 days. | The applicant was incorporated on August 10, 2007 under the Indian Companies Act, 1956. The CIN of the applicant company is U45400DL2007PTC166910. The company is engaged in the business of wireless telecommunications services. The applicant was granted permission by GOI vide letter dated November 13, 2009 for foreign investment to the extent of 74% by Telenor Asia Pte Ltd.(TAPL), Singapore, a wholly-owned subsidiary of Telenor ASA, Norway. During the year 2009-10, the applicant received foreign investment from TAPL amounting to Rs.541.82 crore in terms of the GOI approval and allotted the shares to the foreign investor. Pursuant to a scheme of amalgamation sanctioned by an order of Hon’ble Delhi High Court dated September 27, 2010 the eight (nos.) companies were amalgamated with the applicant company: | 667,838,280 | 376,667 | |
| 1.352 | Zuellig Pharma (India) Private Limited | Aug/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 19 days to 7 years 4 months 26 days, . (ii) 26 days to 2 years 9 months 4 days, . (iii) 1 months 6 days, . (iv) Financial years 2008-09. | (i) neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India within 180 days of the receipt of the inward remittance. (ii) delay in reporting receipt of foreign inward remittance towards subscription to equity. (iii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. (iv) delay in filing ‘Annual Return on Foreign Liabilities and Assets’ (FLA Returns) | Its main activities are (i) to carry on the business of marketing, sales, integrated logistics services including origin/destination services, transportation, loading and unloading, customs clearances, forwarding, handling, consolidation, warehousing, distribution services for all types of pharmaceutical and health care products and other products related thereto and providing logistics consultancy services in relation to the aforesaid (ii) To carry on the business of cash and carry wholesale trading operations in India and create a sustainable presence and to develop viable business of the company all over India for all types of pharmaceutical and health care products and related products thereto. | (i) 4300000000 (Rupees Four Crore Thirty Lakh only) (ii) 13800033000 (Rupees Thirteen Crore Eighty Lakh Three Hundred Thirty only) (iii) 400000000 (Rupees Forty Lakh Only) | 609,210 | |
| 1.353 | AGS Health Private Limited | Sep/2018 | FDI | FEMA 20/2000-RB | Delay in reporting the issuance of shares under the Employee Stock Options Plan (ESOPs). In terms of Regulation 8(3) of Notification No. FEMA 20/2000-RB ‘The issuing company shall furnish to the Reserve Bank, within thirty days from the date of issue of shares under the scheme, a report giving the following particulars / documents, - i) names of persons to whom shares are issued under the scheme and number of shares issued to each of them; ii) a certificate from the Company Secretary of the issuing company that the value of shares issued under the scheme does not exceed 5% of the paid up capital of the issuing company and that the shares are issued in compliance with the regulations issued by the SEBI in this behalf.’ This regulation was substituted w.e.f. 11.06.2015 as Regulation 8(2) of Notification No. FEMA 20/2000-RB which states that, “The Reserve Bank may require the company issuing “employees’ stock option” and/or “sweat equity shares” to submit such reports and at such frequency as it may consider necessary.” | 2 months to 3 years 11 months . | The contraventions sought to be compounded relate to delay in reporting the issuance of shares under the Employee Stock Options Plan (ESOPs), beyond the stipulated time period. | The applicant is engaged in business of providing outsourcing services, back office support functions, setting up call centers etc. The applicant incorporated a Wholly Owned Subsidiary (WOS) viz. AGS Health Inc. in New Jersey, USA in May 2011. The Board of Directors of the applicant company approved an Employee Stock Option Plan (ESOP) under which it has issued stock options to the employees of the overseas WOS. | 1,855,375 | 29,583 | |
| 1.354 | M/s. Appu Hotels Ltd | Sep/2018 | FDI | FEMA 20/2000-RB | Delay in reporting. | (i) 2 months 22 days . (ii) 1 years 4 months 25 days . (iii) 9 months 23 days . | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares . (ii) delay in submission of Form FCGPR on allotment of shares to Reserve Bank. (iii) delay in refund of inward remittance. | The Applicant company is engaged in business of Hotels and Motels, inns, resorts providing short term lodging facilities includes accommodation in house boats. | (i) 18253419 (ii) 18252000 (iii) 1500000000 | 152,920 | |
| 1.355 | M/s. Arjun Health and Hygiene Pvt Ltd. | Sep/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3 days to 2 years 11 months 6 days . (ii) 1 days to 2 years 9 months 15 days . | (i) delay in reporting of inward remittance against issue of equity shares. (ii) delay in submission of FCGPR to the Reserve Bank after issue of shares. | The applicant company is engaged in business of manufacturing other paper products n.e.c. | (i) 2912570452 (ii) 1324039500 | 81,795 | |
| 1.356 | M/s. Bubugao Communication Private Limited | Sep/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 days to 1 months and 14 days . (ii) 2 months and 26 days to 1 years and 10 months . | (i) delay in reporting of inward remittance against issue of equity shares. (ii) delay in submission of FCGPR to the Reserve Bank after issue of shares. | The applicant is engaged in the business of Mobile related services. | (i) 3069157036 (ii) 4832417000 | 131,385 | |
| 1.357 | M/s Catbus Infolabs Private Limited | Sep/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 years 10 months and 3 days to 2 years 2 months and twenty 3 days. (ii) twenty days to 1 years 5 months and 11 days. | (i) refund of entire share application money/excess share application money to the foreign investors, beyond the prescribed period of 180 days from the date of receipt of the inward remittances. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | The company is engaged in the business of building technology based platforms to connect customers with logistics providers. | (i) 59906250 (ii) 14244433250 | 14,560,000 | |
| 1.358 | Central Investigation & Security Services Limited | Sep/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 05 months 16 days to 02 years 01 months 24 days, . | The contravention sought to be compounded is delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. | Its main activities are (i) to carry on in India or abroad profession of rendering security and detection services and consultancy services in electronic securities, which includes watch & ward, custodian under covers, investigation, intelligence services, escorts, armed escorts, surveillance, personnel selection and other allied services. (ii) To manufacture, trade, sell, lend, hire, electronic security and detective devices, gadgets, enter into the agreement with foreign collaboration for joint venture. Technical know-how, representation, marketing their products in India etc. (iii) To undertake in India or abroad project planning, industrial finance and management consultancy. | 546,000,000 | 16,675 | |
| 1.359 | Crane Worldwide Logistics India Private Limited | Sep/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 02 years 05 months 01 days to 03 years 01 months 10 days, . (ii) 01 months 05 days to 05 years 10 months 19 days, . (iii) 01 years 05 months 05 days to 01 years 11 months 06 days, . (iv) Financial years 2016-17. | (i) neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India within 180 days of the receipt of the inward remittance. (ii) delay in reporting receipt of foreign inward remittance towards subscription to equity. (iii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. (iv) delay in filing ‘Annual Return on Foreign Liabilities and Assets’ (FLA Returns) | Its main activities are (i) to carry on the business of logistics activities including International freight forwarding, air & sea freight forwarding, warehousing and storage, customs clearance, local pickup & delivery, supply chain, packers, distribution, clearing and forwarding agents, customs house agents, special crating, cargo movers, cargo agents, freight brokers, freight contractors, carrier of goods, multimodel transport operators, freight forwarding transporters, containerization and couriers by any conveyance or conveyances in respect of any assets, goods, containers, luggage freight, documents and parcels whether commercial or otherwise to and from any part of the world. | (i) 3,55,56,10,800 (ii) 3,56,56,09,800 (iii) 3,55,55,80,000 | 749,658 | |
| 1.360 | Dentsu Aegis Network India Private Limited | Sep/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 06 days to 05 months 03 days . (ii) 23 days to 03 months 15 days . (iii) Financial years 2010-11 and 2012-13 to 2015-16. | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity. (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. (iii) delay in filing ‘Annual Return on Foreign Liabilities and Assets’ (FLA Returns). | Its main activities are to carry on in India or abroad the business of providing all media and advertising services including but not limited to media strategy, research, planning and buying, sponsorship programming, direct marketing promotion, two-way communication services and to act as publicity agents, consultants and contractors and to purchase, sell, hire, manage, acquire, undertake, hold, provide & promote publicity or advertising time, space or opportunity on any radio station, broad casting centre, television centre, video cassettes, audio cassettes, hoardings, neon signs, electronic display board, cinema, cable network, internet, newspaper, magazines, souvenirs and all other present and future media or display devices and to produce, promote, participate, manipulate, treat, process, prepare, alter, develop, expose, edit, exhibit, make, remake, display, print, reprint, convert, duplicate, finish, buy, sell, run, import, export all kind of advertising films, video films, telefilms, cine films, documentary. | (i) 3,60,73,82,55,233 (ii) 2,65,90,49,27,200 | 347,000 | |
| 1.361 | Elringklinger Automotive Components (India) Private Limited | Sep/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 05 days, . (ii) 03 years 11 months 19 days to 05 years 02 months 22 days, . (iii) 12 days to 05 years 08 months 04 days, . (iv) 11 years 01 months 26 days, . | (i) neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India within 180 days of the receipt of the inward remittance. (ii) delay in reporting receipt of foreign inward remittance towards subscription to equity. (iii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. (iv) failure to obtain, specific and prior Government approval for issue of shares to person resident outside India against preoperative / preincorporation expenses. | Its main activities are (i) to carry on business of designing, assembling, manufacturing, selling, distributing, importing, exporting or otherwise dealing with repairing and servicing of all kinds and description of cylinder head gaskets, cover modules and shielding parts and related and allied products as well as spare parts, components, sub-assemblies, stores fittings, appliances and apparatus capable of being used there with or in the manufacturing maintenance thereof, accessories and such other products to be developed and manufactured. To also establish technical and engineering service centre and provide services such as drafting, designing and product development for cylinder head gaskets, cover modules and shielding parts and related and allied products and other products and to act as engineers and consultants in respect of cylinder head gaskets, cover modules and shielding parts, related and allied products and other products and components of every description whatsoever and to provide such services worldwide. | (i) 8,31,25,64,000 (ii) 37,10,75,09,500 (iii) 62,14,24,09,000 (iv) 1,95,05,05,000 | 3,528,759 | |
| 1.362 | Expedition Voyages | Sep/2018 | FDI | FEMA 24/2000-RB | In terms of Regulation 3 of FEMA 24/2000-RB, “Save as otherwise provided in the Act or rules or regulations made or directions or orders issued thereunder, no person resident outside India shall make any investment by way of contribution to the capital of a firm or a proprietary concern or any association of persons in India. Provided that the Reserve Bank may, on an application made to it, permit a person resident outside India subject to such terms and conditions as may be considered necessary to make an investment by way of contribution to the capital of a firm or a proprietary concern or any association of persons in India.” | 2 years 10 months to 2 years 5 months . | The contraventions sought to be compounded relate to entry into partnership with a person resident outside India without obtaining prior approval. | Expedition Voyages is a Partnership Firm formed vide a Deed of Partnership made on March 23, 2015 between Mr. Karl Espen Fjermeros a resident of New York and Mr. John Jayanta Ambat a resident of India. The main business of the partnership firm is to carry on travel and tourism business from India by undertaking cruise travel which include ultra-luxury cruises also, marketing expeditions and all allied services. Mr. Karl Espen Fjermeros remitted total amount of Rs.38,51,373.22 in five tranches. The firm has not taken required permission from Reserve Bank of India with regards to investment by a person resident outside India by way of contribution to capital of the firm thereby contravening Regulation 3 of FEMA 24/2000-RB. | 385,137,322 | 73,108 | |
| 1.363 | Hamon India Thermal Engineers And Contractors Private Limited | Sep/2018 | FDI | FEMA 24/2000-RB | Delay in reporting | (i) 01 months 07 days to 05 months 05 days . (ii) Financial years 2006-07 to 2014-15. | (i) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. (ii) delay in filing ‘Annual Return on Foreign Liabilities and Assets’ (FLA Returns). | Its main activities are to carry on the business of making, preparing, designing, fabricating, manufacturing, installing, commissioning and operating and buying, selling, giving on lease, hire purchase or on leave and licence basis and/or otherwise dealing in 1. (a) all types and models of cooling systems and without prejudice to the generality hereof including cooling towers wet-dry, air cooled heat exchangers, air cooled condensers, low noise abatement systems, plume abatement system and upgrading of old installations. (b) all types and models of heat transfer system and without prejudice to the generality hereof including heat recovery boilers, economizers for boilers, urban or central heating, processes, air preheaters for boilers or process furnaces, preheating of process liquids, cooling and preheating of combustion gases using a combination of plain and finned tubes; and (c) all types and models of industrial products pertaining to cooling and heating transfer systems and without prejudice to the generally hereof including plastic thermal components for cooling towers, package cooling towers in FRP, wrapped finned tubes, welded finned tubes, bundles for air coolers and air conditioners, shell and tubes heat exchangers, fiberglass reinforced polyester for process equipment and utility applications. | (i) 15,49,99,962.12 | 202,250 | |
| 1.364 | Pest Control (India) Pvt. Limited | Sep/2018 | ODI | FEMA 120/RB-2004 | Regulation 15(i) of FEMA 120/2004, states that an Indian Party, which has acquired foreign security in terms of the Regulations in Part- I, shall -receive share certificates or any other document as an evidence of investment in the foreign entity to the satisfaction of the Reserve Bank within six months, or such further period as Reserve Bank may permit, from the date of effecting remittance or the date on which the amount to be capitalised became due to the Indian Party or the date on which the amount due was allowed to be capitalised. Regulation 15(iii) of FEMA 120/2004, states that an Indian Party, which has acquired foreign security in terms of the Regulations in Part- I, shall -submit to the Reserve Bank, through the designated Authorised Dealer, every year on or before a specified date, an Annual Performance Report (APR) in Part III of Form ODI, as prescribed by the Reserve Bank from time to time, in respect of each JV or WOS outside India, and other reports or documents as may be prescribed by the Reserve Bank from time to time. The APR, so required to be submitted, has to be based on the audited annual accounts of the JV / WOS for the preceding year, unless specifically exempted by the Reserve Bank. | (i) 11 and 13 months (ii) 51 days to 159 days | The contraventions sought to be compounded relate to delayed receipt of share certificates for the investment done in overseas entity i.e. beyond the prescribed period of 6 months. | The applicant is engaged in the business of entomology, agricultural technology, technical consultant, providing pest control service, etc. in India. | (i) 26,02,933 (ii) 26,02,933 | 90,000 | |
| 1.365 | Hinduja National Power Corporation Limited | Sep/2018 | FDI | FEMA 24/2000-RB | Delay in reporting In terms of the regulation 2(ii) of Notification No. FEMA 20/2000-RB read with para 2(ii)(a) of AP DIR Circular No. 3 dated July 14, 2014 the entire consideration towards issue of shares to the non-resident investor was required to be brought within a period of 12 months by the applicant. In terms of para 2(iii)(a) of AP DIR Circular No. 3 dated July 14, 2014 read with para 9(1)(B) of schedule 1 to Notification No. FEMA 20/2000-RB, as then applicable, the reporting of issue of partly paid equity shares shall be made in form FCGPR within a period of 30 days, to the extent the equity shares are called up. | (i) 5 months . (ii) 6 months to 1 years 8 months . | (i) delay in receipt of a part of the consideration for the partlypaid equity shares issued to a nonresident beyond the prescribed time limit and; (ii) delay in reporting the allotment of partly paid equity shares, to the extent the equity shares are called up, in Form FCGPR, beyond the prescribed period. | It is engaged in the business of power generation. In order to finance the cost escalations of its 1040 MW thermal power project at Vishakhapatnam, HNPCL issued partly paid-up equity shares under a rights issue to the existing resident and non-resident shareholders. in terms of para 2(ii)(a) of AP DIR Circular No. 3 dated July 14, 2014 ‘The pricing of the partly paid equity shares shall be determined upfront and 25% of the total consideration amount (including share premium, if any), shall also be received upfront; The balance consideration towards fully paid equity shares shall be received within a period of 12 months.’ in terms of para 2(iii)(a) of AP DIR Circular No. 3 dated July 14, 2014 ‘The reporting of receipt of foreign inward remittance towards each upfront /call payment for FDI transaction shall be made in Advance Reporting Form (format enclosed) along with copy/ies of Foreign Inward Remittance Certificate/s (FIRC), Know Your Customer (KYC) report on non-resident investor and details of the Government approval, if any. The reporting of issue or transfer of partly paid shares shall be made in form FC-GPR and form FC-TRS respectively, to the extent the equity shares are called up.’ | (i) 116,25,52,718 (ii) 193,80,10,668 | 6,281,097 | |
| 1.366 | M/s. Idealoom Ventures Private Limited | Sep/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 16 days to 21 days . (ii) 2 months 15 days to 4 months 14 days . | (i) delay in reporting of inward remittance against issue of equity shares. (ii) delay in submission of FCGPR to the Reserve Bank after issue of shares. | The company is engaged in the business of computer consultancy and computer facilities management activities. | (i) 500,000 (ii) 14,58,000 | 21,160 | |
| 1.367 | Independence Brewing Company Private Limited | Sep/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) days to 3 months 29, days . (ii) 1 months 10 days to 6 months 25 days, . | (i) delay in reporting of inward remittance against issue of equity shares. (ii) delay in submission of FCGPR to the Reserve Bank after issue of shares. | Its main activities are (i) to carry on in India or elsewhere the business as distillers, brewers, blenders, refiners, manufacturers, producers, processors, makers, preparers, growers, inventors, convertors, importers, exporters, traders, buyers, sellers, resellers, wholesalers, retailers, suppliers, indenters, packers, movers, preservers, bottlers, stockist, agents, sub-agents, merchants, distributors, dealers, marketers, consignors, consignees, brokers, concessionaries or otherwise deal in all type, kinds, brands, makes and varieties of beverages, concentrates, spirits, drinks, cocktails, mock tails, juices and shakes including alcoholic, non-alcoholic, liqueurs, aerated, fruit based, agro based and the like. (ii) To promote, establish, setup, acquire, build, own, lease, run, manage, operate, carry on in India or elsewhere pubs, bars, restaurants, hotels, motels, parlors, beer, houses, clubs, resorts, recreation centers, refreshment rooms, lodges, guest houses, cafes, inn, leisure centers, dining halls, canteens, dhabas, eating joints and the like. | (i) 6,31,69,608 (ii) 9,42,17,767 | 134,440 | |
| 1.368 | Shyam Metalics and Energy Ltd | Sep/2018 | ODI | FEMA 120/RB-2004 | (i) Paragraph 16(1)(v) of Notification No FEMA 120-RB 2004 as amended from time to time, an Indian party may disinvest from its overseas JV with or without any write-off of its initial investment provided it has been in operation for at least one year and has submitted all APRs that were due. (ii) Paragraph 15(iii) ibid, an Indian Party, which has acquired foreign security in terms of the Regulations in Part- I, shall “submit to the Reserve Bank every year within 60 days from the date of expiry of the statutory period as prescribed by the respective laws of the host country for finalisation of the audited accounts of the Joint Venture/Wholly Owned Subsidiary outside India or such further period as may be allowed by Reserve Bank, an annual performance report in form APR …”. | The APR for 4 years i.e 2012, 2013, 2014 and 2016 were ubmitted with in contravention to guideline on regulatory reporting. | The contraventions sought to be compounded are disinvestment from the JV without submission of the Annual Performance Report (APR) and delayed submission of APRs for the years 2012 to 2014 and 2016. | The company is primarily engaged in the business of manufacture and sale of ferro-alloys, iron and steel products and power generation. The applicant company set up a JV in Zimbabwe by name Shyam Minimet Africa Private Ltd in August, 2011 under Automatic route with the object to purchase / acquire/ sell/ dispose and deal in mines and mining rights. However no activity could be undertaken due to lack of commercially feasible opportunities. The company had remitted funds totalling Euro 76,118/- (equivalent to INR 51,84,798/-) between August 2011 and October 2012. As no opportunities came their way, the applicant company decided to close the JV to save on recurring administrative expenses and write off the investment in August 2015. It submitted APRs for the years 2012 to 2015 in July 2015 and initiated process of filing for closure of the JV with the concerned authorities in Harare. The company finally filed for dissolution in January 2017 while the APR for the year 2016 was pending. Subsequently, the APR was filed in April 2017 only. | 5,184,798 | 115,924 | |
| 1.369 | Tata Steel Ltd (TSL) | Sep/2018 | ODI | FEMA 120/RB-2004 | (i) In terms of Regulation 6(2)(vi) of Notification No.FEMA.120/2004-RB dated July 07, 2004 as amended from time to time, Overseas Direct Investment is permitted in certain cases provided “ the Indian Party submits Part I of the Form ODI, duly completed, to the designated branch of an authorized dealer”. (ii) Regulation 15 (iii) (iii) Regulation 16(1) | 1 years 3 months to 11 years . | (i) Delay in submission of Form ODI Part I(effecting remittances without obtaining UIN). (ii) Delay in submission of Annual Performance Reports (APRs) within the stipulated time period. (iii) Disinvestment with write off without the submission of APRs. | It is registered with RoC Mumbai and is involved in the manufacture of basic iron and steel. Kalimati Investment Company ltd (KICL), is a Wholly Owned Subsidiary (WOS) of Tata Steel Limited (TSL) incorporated on September 15, 1983, with CIN No. 659990MH1983PLC030848 is involved in financial intermediation and is registered with RoC Mumbai. In November 2005, KICL had set up a WOS named Bangla Steel & Mining Company Limited (BSMC) in Bangladesh under automatic route. As a part of incorporation expenses, remittances amounting to Bangladesh Taka (BDT) 999,800 (USD 15,218.40/INR 6,72,622.06) were made during September to November 2005, through Standard Chartered Bank. In February 2006, 9998 equity shares of BDT 100 each were allotted by BSMC in favour of KICL. However, the IP had not applied for the UIN after incorporation and consequently APRs were also not filed by the IP.Subsequently, the IP, KICL was merged with TSL with effect from January 01, 2013. Consequently BSMC became the wholly owned subsidiary of TSL. | 67,262,206 | 218,408 | |
| 1.370 | Nightstay Travels Private Limited | Sep/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 10 months and 13 days to 1 years, 6 months and 4 days. (ii) 10 months and 17 days to 1 years 5 months and 1 days. (iii) financial years 2016-2017 with a of 1 years and 14 days. | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity. (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. (iii) delay in filing ‘Annual Return on Foreign Liabilities and Assets’ (FLA Returns) | The applicant company was incorporated on March 16, 2015 and is engaged in the business of providing short stay accommodation viz. holiday homes, private guest houses, etc. | (i) 640,296.64 (ii) 640,29,691 | 36,420 | |
| 1.371 | Nilgai Foods Private Limited | Sep/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 10 days to 3 months 2 days, . (ii) 3 days to 3 months 19 days, . (iii) Financial years 2011-12. | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity. (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. (iii) delay in filing ‘Annual Return on Foreign Liabilities and Assets’ (FLA Returns) | The applicant company was incorporated on March 26, 2011, under the Companies Act, 1956 as Nilgai Foods Private Limited. Its main activities are to carry on in India and abroad, the business of establishing, maintaining and operating restaurants, cafes and eating houses, including manufacturing, importing, exporting, packaging, buying and serving food, beverages and edible items of all kinds. | (i) 37,96,82,71.46 (ii) 2,85,71,943.66 | 77,825 | |
| 1.372 | M/s. PACT for Rural Livelihoods Private Limited | Sep/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 04 to 276 days . | The contravention sought to be compounded is delay in reporting receipt of foreign inward remittances towards subscription to equity. | The applicant was incorporated on August 23, 2013 and deals in Agriculture and food processing activities. | 21,602,157 | 21,583 | |
| 1.373 | PM International India Private Limited | Sep/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 6 days to 5 months and 1 days. (ii) 1 months and 2 days to 3 months and 5 days. | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity. (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. | The company is engaged in wholesale of toiletry, perfumery and cosmetics. | (i) 323,38,20,368 (ii) 304,38,200 | 51,075 | |
| 1.374 | Prinpia Components Private Limited | Sep/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 22 days to 2 months 28 days. | The contravention sought to be compounded is of delay in submission of Form FCGPR after allotment of shares. | The company is engaged in the business of other service activities related to printing n.e.c. | 1,886,918,000 | 14,890 | |
| 1.375 | SEP Energy Pvt. Ltd. | Sep/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 12 to 54 days. (ii) 4 to 113 days. | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity. (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. | The company is engaged in electric power generation using other non-conventional sources having NIC Code: 35106. | (i) 104,24,831 (ii) 809,29,220 | 72,815 | |
| 1.376 | M/s. SMS Shelters Private Limited. | Sep/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 10 years 8 months 1 days to 10 years 8 months 22 days . | The contravention sought to be compounded is delay in refund of inward remittance received towards subscription to shares. | The applicant company is engaged in the business of construction of residential buildings including additions and alterations in the existing ones. | 2,468,266 | 72,768 | |
| 1.377 | M/s. Sunyang Cold Storage and Warehousing Private Limited | Sep/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 days to 1 months 12 days . (ii) 18 days to 6 years 9 months 7 days . (iii) 6 years 6 months 30 days . | (i) delay in reporting receipt of foreign inward remittances. (ii) delay in submission of Form FCGPR to Reserve Bank of India after issue of shares towards subscription to equity. (iii) delay in receipt of foreign inward remittance after allotment of shares | The applicant is engaged in the business of warehousing of refrigerated (cold storage). | (i) 84,25,18,927 (ii) 97,49,940 (iii) 438,830 | 31,412 | |
| 1.378 | M/s. Sutherland Healthcare Solutions Pvt Ltd. | Sep/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 5 days to 5 months 18 days . (ii) 1 months 6 days to 1 years 4 months 13 days . | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares. (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The applicant company is engaged in business of other information service activities n.e.c. | (i) 90,26,99,04,000 (ii) 150,92,10,94,600 | 255,940 | |
| 1.379 | M/s.Textures and Weaves India Private Limited | Sep/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 6 years 9 months 23 days . (ii) 4 years 3 months 27 days . | (i) delay in submission of Form FCGPR on allotment of shares with Reserve Bank. (ii) delay in refund of inward remittance | The applicant company was incorporated on March 30, 2007 under the provisions of the Companies Act, 1956 (Registration No. U17124TN2007PTC062906) and is engaged in business of weaving, manufacturing of man-made fiber and man-made mixture fabrics | (i) 100,00,000 (ii) 194,97,200 | 63,293 | |
| 1.380 | VT Netzwelt Pvt. Ltd. | Sep/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1008 to 1472 days. (ii) 1049 to 1513 days. (iii) 1619 and1672 days. (iv) 87 to 498 days. | (i) issue of shares to foreign investor against post incorporation expenses without prior approval of the concerned ministry. (ii) delay in submission of FCGPR to the Reserve Bank after issue of shares. (iii) delay in application for refund of excess amount. (iv) delay in allotment of shares beyond prescribed 180 days from the date of receipt of inflows. | The applicant Company, VT Netzwelt Pvt. Ltd. is a private Limited company incorporated under the provisions of Companies Act, 1956. The applicant is engaged in the business of managing and running computer training and data processing centers. | (i) 12,50,000 (ii) 12,50,000 (iii) 146,52,873 (iv) 774,38,563 | 12,492,300 | |
| 1.381 | Webklipper Technologies Private Limited | Sep/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 01 months 01 days to 03 months 13 days, . (ii) 01 months 07 days to 08 months 05 days, . (iii) Financial years 2015-16. | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity. (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. (iii) delay in filing ‘Annual Return on Foreign Liabilities and Assets’ (FLA Returns) | Its main activities are (i) to carry on business of developing, installing, maintaining, storage of any form of data/documents including advanced data recovery capabilities that allow the customers to search/access various file types like music files, images, video clips, documents, mail etc and integrating software with hardware, and to provide services, products, solutions for commercial or other purposes, including providing SaaS (software as a service model); web designing, hosting and development; testing of hardware & software & software components/systems; export, import of hardware and software; to provide complete business solution through e-commerce and online marketing. (ii) To carry on business of training, consultancy and research in the area of computer, internet and mobile software, hardware, information technology, data entry and processing, business process outsourcing, offshore development, webservices, ITES services, training and manpower resources. | (i) 695,00,000 (ii) 14,96,452.20 | 43,260 | |
| 1.382 | M/s. WTP Cost Advisory Services India Pvt Ltd. | Sep/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 7 months 24 days to 9 months 23 days . (ii) 1 years 11 months 21 days . | (i) delay in submission of Form FCGPR on allotment of shares with Reserve Bank. (ii) delay in refund of inward remittance | The applicant company was incorporated on November 20, 2015 under the provisions of the Companies Act, 1956 and is engaged in the business of architectural and engineering activities and related technical consultancy. | (i) 15,00,00,000 (ii) 52,36,240 | 23,217 | |
| 1.383 | YWA Human Resources Private Limited | Sep/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 01 months 02 days to 01 years 01 months 25 days, . (ii) 01 months 20 days to 01 years 10 months 18 days, . | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares. (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank | Its main activities are (i) to carry on the business of providing Manpower placement, and act as human resource managers, consultants, advisors, develop human resources related tools, products programs and works. (ii) to carry on business of manpower consultants and advisors to Individuals, bodies corporate, societies, under takings, institutions, associations, government, local authorities for the recruitment of management of managerial personnel and others relating to the administration, organization, production, storage and marketing sales and management of industry and business and to carry on the business of industrial and business consultants. | (i) 89,10,708.38 (ii) 97,30,930 | 37,865 | |
| 1.384 | Alcon Laboratories (India) Private Limited | Oct/2018 | FDI | FEMA 20/2000-RB | Regulation 5(1) of Notification No. FEMA 20/2000-RB permits purchase of shares by certain persons resident outside India under Foreign Direct Investment Scheme, subject to terms and conditions specified in Schedule I. Further, Paragraph 2 of Annex B (from 01.03.2006 to 30.12.2008), renamed as Paragraph 27 (from 31.12.2008 to 29.10.2012), further renamed to Paragraph 24.2(1)(ii) (from 30.10.2012 to 26.08.2014), and later renamed as Paragraph F.8.2(1)(iii) (from 27.08.2014 till the end date of the contravention, i.e., 31.10.2015) of Annexure B of Schedule I of Notification No. FEMA 20/2000-RB specifies the minimum capitalization norms subject to which foreign investment in NBFC is allowed under the automatic route.” | 7 and a half years to 9 and a half years . | The applicant has sought to be compounded for not meeting the minimum capitalization norms. | The applicant is engaged in the business of wholesale trading in India and providing maintenance services in relation to eye care products. | 91,196,377,260 | 6,889,728 | |
| 1.385 | Pradeep Khemka | Oct/2018 | Regularization of assets held abroad by a person resident in India | FEMA 348/2015-RB | Delay in reporting | 2 years | The contravention sought to be compounded are retention of assets abroad that were declared under the Black Money Act beyond 180 days from the date of declaration without prior approval of Reserve Bank. | The applicant Shri Pradeep Khemka, a resident Indian, declared foreign assets (Seaworld Foundation, Liechtenstein, of which he was the settlor and first beneficiary) to the extent of USD 30,46,861 on September 26, 2015 under the Black Money (undisclosed Foreign Income and Assets) and Imposition of Tax Act 2015, and paid a tax of INR 11,57,19,780 on December 28, 2015 on the same. The applicant received an amount of USD 29,71,165.38 on October 13, 2015, after liquidation of his foreign assets. However, the balance amount of USD 89,369.04 ( initially balance amount was declared as USD 75,695.62 but this increased to USD 89,369.04 due to increase in the market value as per submissions of the applicant) was not remitted to India within the specified period of 180 days, as prescribed under Regulation 4 of FEMA 348. No approval was sought from RBI by the applicant for retaining the amount beyond the period of 180 days as required in terms of Regulation 4 of FEMA 348 read with para 3(c) of A.P. (DIR Series) Circular no. 18 dated September 30, 2015. | 5,808,988 | 81,949 | |
| 1.386 | M/s Cogebi Insulation India Private Limited | Oct/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 months to 5 months and 7 days. (ii) 1 days to 1 months and 26 days. | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | The company is engaged in the business of trading mica insulation tapes and sheets. Paragraph 9 (1) (A) of Schedule I to Notification No. FEMA 20/2000-RB, due to delay in reporting of foreign inward remittances received towards subscription to equity. Paragraph 9 (1) (B) of Schedule I to Notification No. FEMA 20/2000-RB, due to delay in submission of Form FC-GPRs to the Reserve Bank afterissue of shares to persons resident outside India. | (i) 997,78,160 (ii) 999,97,964 | 2,150,000 | |
| 1.387 | M/s Plant Tech-Mid Continent (India) Private Limited | Oct/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 days to 4 months and 19 days. (ii) 11 months and 14 days. (iii) 1 months and 19 days to 3 months and 24 days. | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in refund of excess share application money. (iii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside .India | The company is engaged in the business of tank cleaning, crude oil sludge processing, etc. Paragraph 9 (1) (A) of Schedule I to Notification No. FEMA 20/2000-RB, due to delay in reporting of foreign inward remittances received towards subscription to equity. Paragraph 8 of Schedule 1 to Notification No. FEMA 20/2000-RB, due to refund of excess share application money beyond 180 days from the date of receipt of inward remittances, without prior approval from Reserve Bank of India. Paragraph 9 (1) (B) of Schedule I to Notification No. FEMA 20/2000-RB, due to delay in submission of Form FC-GPRs to the Reserve Bank after issue of shares to persons resident outside India. | (i) 20,85,45,300 (ii) 16,54,510 (iii) 105,62,50,000 | 2,463,000 | |
| 1.388 | M/s Freshtohome Foods Private Limited | Oct/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 5 months and 5 days to 9 months and 1 days. | The contravention sought to be compounded is delay in refund of excess share application money to the foreign investors, persons resident outside India, beyond 180 days of receipt of the inward remittances | The company is engaged in the business of building and providing IT mobile and web based software solutions and services. Paragraph 8 of Schedule I to Notification No. FEMA 20/2000-RB, as the applicant refunded the excess share application money to the nonresident investor with a delay beyond the stipulated period of 180 days from the date of receipt of amount of consideration. | 1,642,730 | 89,000 | |
| 1.389 | M/s Manipal City & Guilds Private Limited | Oct/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 days to 1 years 9 months and 10 days. (ii) 5 days to 6 months and 10 days. | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | The Company is engaged in the business of providing technical and vocational education below the level of higher education. Paragraph 9 (1) (A) of Schedule I to Notification No. FEMA 20/2000-RB, due to delay in reporting of foreign inward remittances received towards subscription to equity. Paragraph 9 (1) (B) of Schedule I to Notification No. FEMA 20/2000-RB, due to delay in submission of Form FC-GPRs to the Reserve Bank afterissue of shares to persons resident outside India. | (i) 186,86,070 (ii) 229,61,930 | 4,768,000 | |
| 1.390 | M/s Candor View India Private Limited | Oct/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 months and 15 days to 7 months and 24 days. | The contravention sought to be compounded is delay in allotment of shares to the foreign investors, persons resident outside India, beyond 180 days of receipt of the inward remittances | The company is engaged in the business of aluminum metal & metal alloys as cash and carry wholesale trading. | 50,000,000 | 3,150,000 | |
| 1.391 | M/s Oliveboard Comptech Private Limited | Oct/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 7 months. (ii) 3 months and 25 days to 7 months. | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | The company is engaged in the business of providing educational services, online platform used for providing study material & practice tests and delivering live classes. Paragraph 9 (1) (A) of Schedule I to Notification No. FEMA 20/2000-RB, due to delay in reporting of foreign inward remittances received towards subscription to equity. Paragraph 9 (1) (B) of Schedule I to Notification No. FEMA 20/2000-RB, due to delay in submission of Form FC-GPRs to the Reserve Bank afterissue of shares to persons resident outside India. | (i) 15,98,500 (ii) 31,97,000 | 2,372,500 | |
| 1.392 | eIndia Venture Holding Company Limited | Oct/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 2 months 2 days to 1 years 4 months 15 days, . | The contravention sought to be compounded is for delay in submission of form FCTRS on transfer of shares in an Indian company | HOV Service Limited is engaged in the business of providing information technology and IT enable services, such as data entry services, software development and support services. | 10,658,213 | 29,520 | |
| 1.393 | Vega Technology (India) Private Limited | Oct/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 5 years 9 months 10 days, . (ii) 1 months 13 days, | (i) neither the equity instruments were issued nor the money refunded to the foreign investor, a person resident outside India within 180 days of the receipt of the inward remittance. (ii) delay in reporting receipt of foreign inward remittance towards subscription to equity, | Its main activities are to carry on the business of system integration in banking domain with core banking solutions to PAC’s, Urban Co-operative Banks, other banking institutions, corporate sector, private sector, public undertaking and Regional Rural Banks, technology, custom projects design and build, system integration and programming, global management service, maintenance and after sales service, engineering-in-sourcing service, TelePresence, AV conferencing system, unified communication, multimedia solution, digital signage system, video wall, 3D display system, central control system, lighting system, IT networking, structure cabling, public announcement system, CCTV and securing system, hardware and software development, IT solutions, out sourcing, data management, data transcription, consultation service and to manufacture and to provide consultancy, management service, maintenance and after sales service, system integration and programming, project design for the same. | (i) 113,95,000 (ii) 524,008 | 183,364 | |
| 1.394 | Vista Packaging Private Limited | Oct/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 6 months 5 days, . (ii) 9 years 11 months 5 days to 11 years 7 months 2 days, . (iii) 8 years 11 months 1 days to 10 years 11 months 1 days, . (iv) 2007-08 to 2016-17. | (i) neither the equity instruments were issued, nor the money refunded to the foreign investor, a person resident outside India within 180 days of the receipt of the inward remittance. (ii) delay in reporting receipt of foreign inward remittance towards subscription to equity. (iii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. (iv) delay in filing ‘Annual Return on Foreign Liabilities and Assets’ (FLA Returns). | Its main activities are (i) to carry on the business as manufacturers, buyers, sellers, merchants, commission agents, importers, exporters and dealers in cast polypropylene, CPP, BOPP, PET, METPET, PE, Aluminium foils, Nylon and any other films and flexible packaging laminates based on variety of packaging films such as CPP, BOPP, PET, METPET, PE, Aluminium foils, Nylon and any other such materials and different grades of polymers / granules. (ii) to carry on business as manufacturers, buyers, merchants, commission agents, importers, exporters or otherwise dealers in pulp, pulp of wood or other fibrous cellulosic material, waste and scrap of paper of all kinds including art paper, pulp or of paper or of paper board and papers of all kinds including art paper, printing paper, writing paper, packing paper product and packing materials such as paper bags, cartons and boxes and packing of food items, goods of plastics, stoppers, lids, caps and other closures of plastics and packing and wrapping paper. | (i) 236,84,000 (ii) 790,97,534 (iii) 790,97,500 | 2,406,815 | |
| 1.395 | M/s Fresco Global Private Limited | Oct/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 months to 5 months. | The contraventions sought to be compounded is for delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India beyond the stipulated 30 days. | The applicant, M/s Fresco Global Pvt. Ltd., was incorporated under Companies Act, 1956, on December 14, 2011 and is in the business of manufacture of apparels. | 408,509,080 | 31,792 | |
| 1.396 | M/s Pran Beverages (India) Private Limited | Oct/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 months to 7 months. (ii) 1 months to 38 months. | The contraventions sought to be compounded is for delay in submission to the Reserve Bank of both Form ARF after receipt of inflow from a person resident outside India and Form FCGPR after issue of shares to a person resident outside India beyond the stipulated 30 days | The applicant is in the business of manufacture of sauces, jams, etc | (i) 803,64,05,289 (ii) 24,46,82,550 | 314,084 | |
| 1.397 | M/s. Telegnosis Private Limited | Oct/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3 days . (ii) 2 years 10 months and 6teen days . (iii) 29 days . | (i) delay in reporting of inflow of funds received from a person resident outside india for allotment of shares. (ii) Delay in submission of form FCGPR on allotment of shares with Reserve Bank. (iii) Allotment of shares after 180 days from the date of receipt of inflow of funds. | The applicant is engaged in the business of Medical Science related services. | (i) 61,11,92,000 (ii) 61,11,92,000 (iii) 61,11,92,000 | 101,420 | |
| 1.398 | M/s. D.P.New Life Healthcare Pvt Ltd. | Oct/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 18 days to 2 months 29 days . (ii) 1 years 24 days to 1 years 3 months 11 days . | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares. (ii) delay in refund of inward remittance. | The applicant company is engaged in business of purchase and sale of Healthcare products. | (i) 105,218 (ii) 105,218 | 55,884 | |
| 1.399 | M/s. Whale Enterprise Pvt Ltd. | Oct/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3 days to 6 months 27 days . (ii) 4 days to 6 months 25 days . | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares. (ii) delay in submission of Form FCGPR on allotment of shares with Reserve Bank. | The applicant company s engaged in business of manufacture of motor vehicles n.e.c. | (i) 1,10,46,92,759 (ii) 137,42,90,000 | 29,950 | |
| 1.400 | Parijat Industries (I) Pvt. Limited | Oct/2018 | ODI | FEMA 120/RB-2004 | Regulation 15(i) of FEMA 120/2004, states that an Indian Party, which has acquired foreign security in terms of the Regulations in Part- I, shall -receive share certificates or any other document as an evidence of investment in the foreign entity to the satisfaction of the Reserve Bank within six months, or such further period as Reserve Bank may permit, from the date of effecting remittance or the date on which the amount to be capitalised became due to the Indian Party or the date on which the amount due was allowed to be capitalised. Regulation 16(1)(v) of FEMA 120/2004, states that an Indian Party may transfer, by way of sale to another Indian Party which complies with the provisions of Regulation 6, or to a person resident outside India, any share or security held by it in a JV or WOS outside India subject to among other conditions, that -the overseas concern has been in operation for at least one full year and the Annual Performance Report together with the audited accounts for that year has been submitted to the Reserve Bank. | (i) 10 days the date of uch remittance to the date of ubmiion of proof of invetment. (ii) December 8, 2016 (the date of winding up of the WO) till september 25, 2018 (the date of regulariation). | The contraventions sought to be compounded relate to delayed receipt of share certificates for the investment done in overseas entity i.e. beyond the prescribed period of 6 months. Further, the applicant disinvested (with write off AED 101055.32) withinone year of equity remittance to the JV/WOS. | The applicant is engaged in the business of fertilizers, manures, dips, sprays, vermifuges, fungicides, insecticides, germicides, pesticides, weedicides and all other agro chemicals, medicines etc. | (i) 27,24,000 (ii) 27,24,000 | 74,982 | |
| 1.401 | Innovations Investment Management India Private Limited | Oct/2018 | ODI | FEMA 120/RB-2004 | Delay in reporting | (i) 3 years 3 months . (ii) beyond the tipulated time period, (iii) 2013 to 2015 | (i) delay in receipt of share certificate beyond the stipulated time period. (ii) delay in reporting of Annual Performance Reports (APRs) beyond the stipulated time period. (iii) delay in filing of annual return on Foreign Liabilities and Assets (FLA) beyond the stipulated time period in respect of the overseas Joint Venture Company. | The applicant company is engaged in the business of asset management, providing management and technical consultancy services, etc. | 262,60,000 | 100,000 | |
| 1.402 | M/s. Indo Japan Polymers Pvt Ltd. | Oct/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 days to 8 days . (ii) 2 months 7 days to 10 months 28 days . | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | The applicant company is engaged in business ofmanufacture of basic chemical elements. Paragraph 9 (1) (A) of Schedule I to Notification No. FEMA 20/2000-RB, due to delay in reporting of foreign inward remittances received towards subscription to equity. Paragraph 9 (1) (B) of Schedule I to Notification No. FEMA 20/2000-RB, due to delay in submission of Form FC-GPRs to the Reserve Bank afterissue of shares to persons resident outside India. | (i) 68,03,239 (ii) 309,99,945 | 79,700 | |
| 1.403 | M/s. Arkay Glenrock Private Limited. | Oct/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 2 months 27 days to 2 years 8 months 8 days | The contravention sought to be compounded is delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The applicant company is engaged in business of quarrying of stone, sand and clay. | 10,300,000 | 147,750 | |
| 1.404 | Shri R.Muthusankar | Oct/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 3 years 8 months 24 days . | The contravention sought to be compounded is delay in reporting the transfer of shares from nonresident to resident i.e., delay in submission of FCTRS | The applicant, an individual by name Shri R Muthusankar is a Director in the company M/s.Arkay Glenrock Pvt Ltd., a private limited company incorporated under the Companies Act, 1956 on March 03, 2000. | 15,997,500 | 197,500 | |
| 1.405 | M/s. Perkins India Private Limited | Oct/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 6 days to 7 months 20 days . | The contravention sought to be compounded is delay in submission of Form FCGPR on allotment of shares with Reserve Bank. | The applicant company is engaged in business of manufacture of engines and turbines, except aircraft, vehicle and cycle engines. | 3,649,636,220 | 50,670 | |
| 1.406 | M/s. Codina Metallic Pvt Ltd | Oct/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 15 daysto 9 months 25 days . (ii) 2 days to 7 months 22 days . (iii) 2 months 26 days . (iv) Financial years 2007-08 to 2015-16. | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares. (ii) delay in submission of Form FCGPR on allotment of shares to Reserve Bank. (iii) delay in allotment of shares. (iv) delay in filing ‘Annual Return on Foreign Liabilities and Assets’ (FLA Returns). | The applicant company is engaged in business of Manufacture of other structural metal products. | (i) 367,16,47,500 (ii) 910,14,60,000 (iii) 15,47,000 | 157,837 | |
| 1.407 | M/s. Indetools Pvt Ltd. | Oct/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 years 10 months 24 days . (ii) 6 days to 3 years 2 months . (iii) 3 months 10 days . | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares. (ii) delay in submission of Form FCGPR on allotment of shares to Reserve Bank. (iii) allotment of shares prior to receipt of consideration. | The applicant company is engaged in business of manufacture of diverse parts and accessories for motor vehicles sucs as brakes, gearboxes, axles, road wheels, suspension shock absorbers, radiators, silencers, exhaust pipes, catalysers, clutches, steering wheels, steering columns and steering boxes etc. | (i) 100,000 (ii) 150,61,030 (iii) 100,000 | 60,390 | |
| 1.408 | M/s.Tresara Health Pvt Ltd | Oct/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3 months 13 days to 1 years 4 months 9 days . (ii) 6 months 19 days to 7 months 4 days . | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | The applicant company was incorporated on August 21, 2015 under the provisions of the Companies Act, 1956 and is engaged in business of Wholesale of pharmaceutical and medical goods. Paragraph 9 (1) (A) of Schedule I to Notification No. FEMA 20/2000-RB, due to delay in reporting of foreign inward remittances received towards subscription to equity. Paragraph 9 (1) (B) of Schedule I to Notification No. FEMA 20/2000-RB, due to delay in submission of Form FC-GPRs to the Reserve Bank afterissue of shares to persons resident outside India. | (i) 158,34,620 (ii) 280,39,500 | 24,330 | |
| 1.409 | M/s Respoint Shoes Private Limited | Oct/2018 | FDI | FEMA 3/2000-RB | Delay in reporting | April 2007 to July 2018 | (i) loan proceeds were used to meet company formation and related expenses, which were not permitted enduses. (ii) drawdown of proceeds before obtaining Loan Registration Number (LRN). (iii) reporting guidelines not being met. | Between March 2007 and April 2007, the company received Euro 5000 (INR 2,88,600) from M/s Hollre B.V, its parent company situated in The Netherlands. Out of the said amount of INR 2,88,600, the company submitted to have accounted INR 1,00,000 towards issuance of 10,000 equity shares of INR 10 each. 9,999 shares were issued in the name of Mr. Pawan Bhasin as an authorized representative of M/s Hollre B.V, while the remaining one equity share was issued in the name of Mr. Arvinf Rallan, as nominee of Hollre B.V. Thus, the remaining INR 1,88,600 was treated as External Commercial Borrowing (ECB) from its parent company, which was utilized towards company formation and related expenses. In doing so, the company not only contravened ECB provisions of permitted end-uses but also drawn the amount before obtaining LRN and not met the reporting requirements. | 188,600 | 51,415 | |
| 1.410 | Biomerieux India Private Limited | Oct/2018 | FDI | FEMA 20/2000-RB | Regulation 14(6)(i) of Notification No.FEMA.20/2000-RB states that “Downstream investment by an Indian company, which is not owned and /or controlled by resident entity/ies, into another Indian company, would be in accordance/compliance with the relevant sectoral conditions on entry route, conditionalities and caps, with regard to the sectors in which the latter Indian company is operating.” Further, Paragraphs 17.2, 17.3.1(i) and (iii) of Annex B of Schedule I of Notification No.FEMA.20/2000-RB dated May 03, 2000 as amended from time to time, subjects FDI in existing pharmaceutical companies to a cap of 100% under Government approval route. | 2 years 9 months . | The applicant has sought to be compounded for making a downstream investment in a company engaged in manufacture and marketing of molecular diagnostic kits, without prior FIPB approval | The applicant is engaged in the business of wholesale of in vitro diagnostic products, including reagents and automated systems for clinical and industrial diagnosis, used for diagnosis in the field of healthcare and treatment to registered healthcare institutions/practitioners and support.The applicant is wholly owned by Biomerieux France, a non-resident company. The investment was in ‘brownfield’ pharmaceutical sector, prior government approval was required at the time of the downstream investment, which the applicant company did-not take. | 17,500,000 | 155,000 | |
| 1.411 | Permian Investments Private Limited | Oct/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 4 months to 1 years and 7 months . (ii) 3 months to 1 years and 2 months . (iii) 2 years and 4 months to 3 years and 6 months . (iv) 3 years and 2 months . | (i) delay in reporting receipt of funds for issue of shares,beyond the stipulated time period. (ii) delay in filing of form FCGPR beyond the stipulated time period. (iii) receipt of foreign investment without the priorapproval of erstwhile Foreign Investment Promotion Board (FIPB). (iv) delay in reporting downstream investment to the erstwhile FIPB beyond the stipulated time period. | The applicant company s engaged in the business of investing the capital and/or funds of the company in securities, by shares, debentures, warrants etc., of other companies within India or outside India, subject to the compliance of the applicable laws. | (i) 31,53,15,93,670 (ii) 60,16,95,990 (iii) 51,76,96,14,320 (iv) 259,09,000 | 4,171,813 | |
| 1.412 | Safari Retreats Private Limited | Oct/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 9 years 7 months . (ii) 2 days . | (i) Taking on record transfer of shares from resident Indian to non – resident Indian, without the transfer being reported in the Form FCTRS. (ii) delay in reporting receipt of funds for issue of shares beyond the stipulated period. | The applicant company is engaged in the business of purchase, lease, exchange of land, buildings etc. and in carrying on the business of hotel, motel, restaurant, café etc. and any activities related to development of tourism. | (i) 163,02,000 (ii) 17,85,52,295 | 507,500 | |
| 1.413 | Fertin India Private Limited | Oct/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 7 days to 3 months . (ii) 23 days to 1 years and 6 months . | (i) delay in reporting of receipt of funds for issue of shares, beyond the stipulated time period. (ii) delay in filing of form FCGPR beyond the stipulated time period. | The applicant company is engaged in the business of manufacturing of medicated chewing gums. | (i) 16,89,01,463 (ii) 35,33,02,169 | 448,042 | |
| 1.414 | M/s. Green Field Amusement Private Limited | Oct/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 590 to 684 days . | The contravention sought to be compounded is delay in reporting receipt of foreign inward remittances towards subscription to equity. | The applicant was incorporated on February 21, 2006 and deals in carrying out the business to buy, sell, import export, manufacture, process convert, grind treat and in merchandise commodities and articles of all kinds and generally to carry on business as traders, importers and exporters and to act as purchasing, selling or commission agents. | 14,914,444 | 35,083 | |
| 1.415 | M/s. Orissa Stevedores (Overseas) Private Limited | Oct/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 years 5 months and 1 days. | The contravention sought to be compounded is delay in reporting receipt of foreign inward remittances towards subscription to equity | The applicant was incorporated on September 21, 1993 and deals in carrying out the business of wholesale of textiles, fabrics, yarn, household linen, articles of clothing, floor coverings and tapestry, sports clothes. | 4,979,834 | 20,500 | |
| 1.416 | M/s. Suprasoft Technologies Private Limited | Oct/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 4 days to 4 months 3 days . (ii) 2 months 28 days to 7 months 3 days . | (i) delay in reporting receipt of foreign inward remittances. (ii) delay in submission of Form FCGPR to Reserve Bank of India after issue of shares towards subscription to equity. | The company is engaged in the business of information technology and computer service activities. | (i) 59,04,450 (ii) 72,60,650 | 26,420 | |
| 1.417 | M/s. Wandertrails Services Private Limited | Oct/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 12 days to 3 months 10 days . (ii) 1 months 7 days to 4 months 19 days . (iii) 6 months 13 days to 7 months 29 days . | (i) delay in reporting receipt of foreign inward remittances. (ii) delay in submission of Form FCGPR to Reserve Bank of India after issue of shares towards subscription to equity. (iii) delay in refund of excess share application money to the nonresident investor. | The company is engaged in the business of travel agency activities. | (i) 293,60,29,880 (ii) 424,11,45,183 (iii) 44,35,023 | 50,000 | |
| 1.418 | M/s. Management Health Solutions India Pvt Ltd | Oct/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 9 days to 7 months 9 days . (ii) 10 months 25 days to 1 years 2 months 26 days . (iii) 6 months 9 days . | (i) delay in reporting of receipt of foreign inward remittances towards subscription of equity. (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. (iii) delay in allotment of shares to a person resident outside India. | The company is engaged in “Other information technology and computer service activities n.e.c”. | (i) 101910 (ii) 101910 (iii) 1900 | 21,664 | |
| 1.419 | M/s. Apache Footwear India Private Limited | Oct/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 days to 2 years 8 months 16 days . (ii) 4 days to 2 years 2 months 11 days . (iii) 1 days to 4 months 1 days | (i) delay in reporting of receipt of foreign inward remittances towards subscription of equity. (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. (iii) delay in allotment of shares to a person resident outside India. | The company is engaged in the business of manufacturing footwear. | (i) 244,39,25,47,888 (ii) 224,69,51,000 (iii) 11,86,53,30,744 | 3,230,802 | |
| 1.420 | M/s. Fernhill Hotels Private Limited | Oct/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 7 days . (ii) 12 days . (iii) 2 days to 10 days . | (i) delay in reporting receipt of foreign inward remittances. (ii) delay in submission of Form FCGPR to Reserve Bank of India after issue of shares towards subscription to equity. (iii) delay in filing annual return on Foreign Assets and Liabilities to Reserve Bank of India. | The company is engaged in the business of short term accommodation activities. | (i) 23,69,80,600 (ii) 23,20,10,000 | 90,000 | |
| 1.421 | M/s. Baypark Hotel & Resorts Pvt Ltd | Oct/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 11 days to 3 months 21 days . (ii) 1 days to 6 months 10 days . | (i) delay in reporting of receipt of foreign inward remittances towards subscription of equity. (ii) delay in submission of Form FCGPR to the Reserve Bank of India after issue of shares to a person resident outside India. | The company is engaged in the business of providing short term accommodation activities which includes Hotels and Motels, inns, resorts providing short term lodging facilities etc. | (i) 38,24,46,407 (ii) 38,24,46,170 | 132,000 | |
| 1.422 | M/s Marchant Hospitality Pvt Ltd | Oct/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 months 22 days to 3 years 10 months 13 days. (ii) 3 years 9 months 20 days to 6 years 4 months 8 days . (iii) 1 years 6 days. (iv) 10 years 3 months 2 days. | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity. (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. (iii) delay in receipt of inward remittance against shares issued at the time of incorporation of the company and refund of share application money beyond 180 days. | The applicant is a company registered as a private limited company, incorporated on January 31, 2007 under the Companies Act, 1956 (CIN: U55101GA2007PTC005052) with the main object of undertaking the business of hospitality. | (i) 11,98,786 (ii) 11,59,900 (iii) 137,860 | 85,299 | |
| 1.423 | Shri Nitin Gupta | Oct/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 10 years . | The applicant has sought to be compounded for delay in reporting the transfer of shares in form FCTRS beyond the stipulated time period. | In terms of A.P.(DIR Series) Circular No. 63 dated April 22, 2009, form FC-TRS should be submitted to the AD Category-I bank, within 60 days from the date of receipt/payment of the amount of consideration. | 9,267,622 | 80,000 | |
| 1.424 | M/s Shoreline Holiday Retreat Pvt Ltd | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 07 months to 01 years 17 days. (ii) 03 months 26 days to 01 years 06 months 21 days. | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity. (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. | the applicant is a company registered as a private limited company, incorporated on October 10, 2007 under the Companies Act, 1956 with the main object of undertaking the business of running hotels, rooming houses, camps and other lodging places. | (i) 72,07,009 (ii) 72,06,999 | 38,850 | |
| 1.425 | Nexion International Pvt. Ltd | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 19 to 67 days. (ii) 44 to 263 days. | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | The company is engaged in the business of manufacturing of ceramic products having NIC Code:23939. Paragraph 9 (1) (A) of Schedule I to Notification No. FEMA 20/2000-RB, due to delay in reporting of foreign inward remittances received towards subscription to equity. Paragraph 9 (1) (B) of Schedule I to Notification No. FEMA 20/2000-RB, due to delay in submission of Form FC-GPRs to the Reserve Bank afterissue of shares to persons resident outside India. | (i) 10,00,00,000 (ii) 43,85,60,000 | 179,000 | |
| 1.426 | Haida Technologies Private Limited | Nov/2018 | ODI | FEMA 120/RB-2004 | Delay in reporting | The ubmiion of evidence of invetment wa ed by more than a years. The APR for 2008 and 2009 were ubmitted with , in contravention to guideline on regulatory reporting. The ubmiion of APR for 2010 wa waived ubject to compounding. | (i) Failure to submit share certificates in time. (ii) Disinvestment from the JV without submission of the Annual Performance Report (APR). (iii) delayed submission /non submission of APRs for the years 2008, 2009 and 2010. | The company is primarily engaged in the business to generate, transmit, distribute and supply power, provide consultancy and advisory services related to the power sector. | 5,845,117 | 133,838 | |
| 1.427 | TBEA Solar (India) Pvt. Ltd. | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1145 days. (ii) 917 days. | (i) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. (ii) delay in receipt of share application money beyond stipulated period of 180 days from the date of allotment of shares. | The company is engaged in the business of manufacturing of ceramic products having NIC Code:23939. | (i) 50000 (ii) 50000 | 53,420 | |
| 1.428 | Kusters Calico Machinery Pvt. Ltd. | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) i 7 to 31 days . (ii) i 264 to 535 days . (iii) the i 350 days . | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity. (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. (iii) delay in allotment of shares / refund of share application money beyond stipulated period of 180 days. | The company is engaged in manufacturing of textile machinery and converting machinery | (i) 406,20,000 (ii) 406,00,000 (iii) 20,000 | 103,280 | |
| 1.429 | Delicioso Gourmet Foods Private Limited | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) the 5 days to 7 months 5 days, . (ii) the 1 months 25 days to 1 years 3 months 25 days, . | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | Its main activities are to carry on in India or abroad the business and to set up online and offline stores that will help the buyers and sellers effectively reach each other across the globe for the consumer food products, commodities, merchandise, goods and services and to provide web services and enable business to business (B2B) business to consumer (B2C), e-commerce over internet, m-commerce and to carry on the business as merchants, importers, exporters, franchisers, buyers, sellers, marketers, processors, packers, re-packers, movers, preservers, producers, processors, repairers, super marketers and/or distributors, forwarders, wholesalers, retailers, traders, dealers, exchangers,etc. | (i) 72,91,63,075 (ii) 77,45,34,590 | 29,055 | |
| 1.430 | GS Engineering & Construction Mumbai Private Limited | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) the of 07 days, . (ii)the 22 days to 01 months 10 days, . | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | Its main activities are to carry on the business of engineering & consultancy services involved in the design, procurement, construction and commissioning of plants for the chemical, Petrochemical, Refinery and Oil & Gas, Power Plant and Environmental protection facility on lumpsum basis, services contracts and to act as project management consultants. | (i) 55,33,13,00,000 (ii) 81,10,13,00,000 | 57,000 | |
| 1.431 | Indsec Securities and Finance Limited | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | the of 15 years 03 months 10 days, . | Delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. | Its main activities are (i) to buy, sell, trade, exchange, deal, barter, swap, borrow, lend, assure, underwrite, guarantee, give comfort for pledge, hypothecate, charge, mortgage, procure or mobilize funds for or arrange placement of or otherwise engage in India or abroad in trade and investment, instruments of all kinds and types, whether securities or not, including shares, stocks, securities, debentures, bonds, cumulative convertible preference shares, certificates of deposits, commercial paper, participation certificates, bill of exchange, letter of credit, promissory notes, cheques whether negotiable or not, currencies, drafts, traveller cheques, factoring of debts, all kinds of units, coupons, warrants, option and such other derivatives, issued or to be issued by companies, Governments, corporations, banks, cooperative firms, organizations, mutual benefit societies in India or abroad and trade in either as a principal, broker, agent, dealer, stockiest, trader, consignee or any other capacity,etc. | 23,620,098,000 | 1,543,000 | |
| 1.432 | Haida Technologies Private Limited | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 19 days to 2 months 25 days, . (ii)1 months 7 days to 2 months, . | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | The applicant company was incorporated on January 23, 2017, under the Companies Act, 2013 as Haida Technologies Private Limited. Its main activities are to carry on the business of developing, creating, making, building and licensing customer facing web and mobile technologies, applications using artificial intelligence and big data analytics forvarious sectors. | (i) 113,81,72,373 (ii) 186,55,40,000 | 27,660 | |
| 1.433 | RxHeal Commerce Private Limited | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 06 months 24 days to 07 months 11 days, . | The contravention sought to be compounded is delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. | The applicant company was originally incorporated on March 05, 2015, under the Companies Act, 2013 as RxHeal Commerce Private Limited. Its main activities are to build, develop and operate the technology, marketing, logistics and operations for e-commerce and retail sales and distribution of pharmaceuticals and general consumer merchandise. | 1,754,271,168 | 43,690 | |
| 1.434 | ES Online Services (India) Private Limited | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 02 months 15 days to 05 months 21 days, . (ii) 02 months 04 days to 06 months 09 days, . | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | Its main activities are i) to carry on the business of providing a range of consultancy, marketing and support services, global data analytics, software for development and facilitation of cross border trade for Indian buyers and sellers, product development, providing support services to other entities, to act as services providers and market development in connection with the operation of website for online marketplaces. | (i) 57,90,00,01,000 (ii) 57,91,00,00,000 | 220,500 | |
| 1.435 | Benjamin West India Private Limited | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 05 days to 02 months 09 days, . (ii) 26 days to 01 years 27 days, . (iii) Financial years 2012-13. | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. (iii) delay in filing ‘Annual Return on Foreign Liabilities and Assets’ (FLA Returns) | main activities i) to carry on business as purchasing agents for procurement of furniture, fixture and equipment including both public space/guestrooms carpets, carpet pad, wall coverings, window treatments, bedding, fabrics, beds, case goods, sofas, desk, chairs/barstools, ceiling light/chandelier, floor/desk/table lamp, wall sconces, framed picture/print, art object such as sculpture, tables and mirrors. ii) To carry on business of procurement of operating supplies & equipment items including in both public space/guestrooms TV, mini bar refrigerator, clock radio, safe, coffee pot/kettle linens: blanket/pillow, duvet, bed sheet, throws, towel, bathrobe, bed scarf amenities: soap/lotion, mini bar,etc. | (i) 68,68,64,200 (ii) 108,71,04,000 | 36,030 | |
| 1.436 | Osstem Implant India Private Limited | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 02 years 01 months 07 days to 02 years 02 months 25 days, . (ii) 03 days to 09 years 03 months 17 days, . (iii) 22 days to 07 years 07 months 02 days, . (iv) Financial years 2007- 08, 2008-09 & 2014-15. | (i) neither the equity instruments were issued, nor the money refunded to the foreign investor, a person resident outside India within 180 days of the receipt of the inward remittance. (ii) delay in reporting receipt of foreign inward remittances towards subscription to equity. (iii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. (iv) delay in filing ‘Annual Return on Foreign Liabilities and Assets’ (FLA Returns). | Its main activities are to carry on the business of trading, importing, exporting, distributing and dealing in hi-tech, medical and diagnostic items in the dental field, such as dental implants kits for dental operations and KaVo package products. | (i) 113,92,00,000 (ii) 13,39,90,00,000 (iii) 33,70,89,98,700 | 1,028,460 | |
| 1.437 | Ashwini Timblo | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | The period of contravention i 9 years 1 months . | The applicant has sought to be compounded for delay in reporting the transfer of shares in Form FCTRS beyond the stipulated time period. | Paragraph 10(i) of Schedule I of the abovementioned regulations specifies a time period of 60 days from the date of receipt or payment of the amount of consideration, within which the transferor/transferee, resident in India, shall submit a report in the Form FC-TRS. | 17,626,500 | 17,626,500 | |
| 1.438 | M/s Indiavidual Learning Private Limited | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 months and 7teen days to 9 months and 13 days. (ii) 8 months and 19 days. (iii) 8een days to 3 years 2 months and 9 days. | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in refund of excess share application money. (iii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | The company is engaged in the business of information technology services in the field of education. | (i) 59,36,113,727 (ii) 835,000 (iii) 43,65,05,95,419 | 145,960 | |
| 1.439 | M/s Incadea India Private Limited | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 6 days to 5 months and 7 days. | The contravention sought to be compounded is delay in reporting receipt of foreign inward remittances towards subscription to equity. | The Company is engaged in the business of computer programming, consultancy and related activities. | 2,741,977,224 | 15,850 | |
| 1.440 | M/s Expat Engineering India Limited | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 days to 9 days. (ii) 1 months and 6teen days to 5 months and 15 days. | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | The Company is engaged in the business of construction services to real estate developers by undertaking construction contracts for an agreed fee/consideration. | (i) 277,41,67,500 (ii) 192,24,22,000 | 32,320 | |
| 1.441 | M/s Niasha Youth Hostel Private Limited | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | Financial years 2015-16 and 2016-17. | The contravention sought to be compounded is delay in filing ‘Annual Return on Foreign Liabilities and Assets’(FLA Return). | The activity undertaken by the company is to carry on the business of providing hostel and high-end studio type accommodation. | NIL | 20,000 | |
| 1.442 | M/s Healthium Medtech Private Limited | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 days to 1 months 7 days. (ii) 1 days to 2 years 9 months and 10 days. (iii) 10 days to 1 months and 25 days. | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. (iii) taking on record in its books by the applicant without prior approval, the transfer of shares by Resident to Non Resident. | The Company is engaged in the business of production and marketing of a variety of surgical consumables and medical consumables. | (i) 15,03,60,10,430 (ii) 15,03,60,10,430 (iii) 383,99,02,59,363 | 294,830 | |
| 1.443 | M/s Wipro GE Healthcare Private Limited | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 6ty days. | The contravention sought to be compounded is delay in submission of Form FCGPR to the Reserve Bank, after issue of shares to a person resident outside India. | The company is engaged in the business of manufacturing and marketing of medical diagnostic equipment such as Imaging equipment, Ultra sounds, Patient monitoring and X-Ray systems. | 33,000,080,498 | 27,000 | |
| 1.444 | M/s. VCC India Private Limited | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 months 9 days . (ii) 1 years 3 months 15 days . (iii) 8 months 7 days . | (i) Delay in reporting of receipt of foreign inward remittances towards subscription of equity. (ii) Delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. (iii) Delay in allotment of shares to a person resident outside India. | The company is engaged in “Other information technology and computer service activities n.e.c”. | (i) 100,000 (ii) 100,000 (iii) 100,000 | 51,800 | |
| 1.445 | M/s. Omnicare Drugs India Private Limited | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 18 days to 1 months 7 days . (ii) 2 months 29 days to 7 months 11 days . | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | The company is engaged in the business of manufacturing and marketing pharmaceuticals and bulk drugs. | (i) 13,36,99,908 (ii) 26,66,99,870 | 112,730 | |
| 1.446 | M/s. Crux Biotech India Private Limited | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 days to 3 years 8 months 10 days . (ii) 19 days to 2 years 4 months 16 days . (iii) 2 years 11 months 12 days . (iv) 2 years 11 months 12 days . | (i) Delay in reporting of receipt of foreign inward remittances towards subscription of equity. (ii) Delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. (iii) Delay in allotment of shares to the nonresident investor and delay in refund of excess share application money to the nonresident investor. | The company is engaged in the business of manufacturing all kinds of products and Bio-Products relating to Ethanol, Extra Neutral Alcohol (ENA), Rectified Spirit, Pharma Grade Alcohol, Feeds and Feed Supplements. | (i) 13,40,32,345 (ii) 29,71,40,415 (iii) 96,47,840 (iv) 53,741 | 1,136,898 | |
| 1.447 | M/s. Digital Insights & Research Pvt Ltd | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 7 years 9 months 11 days . | The contravention sought to be compounded is taking on company’s record, the transfer of shares between Resident to NonResident without obtaining certified form FCTRS. | The company is engaged in Data processing activities including report writing. | 99,990 | 17,830 | |
| 1.448 | M/s. BVS Overseas Private Limited | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 months 13 days to 4 months 27 days . (ii) 1 years 1 months 6 days . (iii) 2 days . | (i) Delay in reporting of receipt of foreign inward remittances towards subscription of equity. (ii) Delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. (iii) Delay in allotment of shares to a person resident outside India. | The company is engaged in “Wholesale of other basic/manufactured food stuffs n.e.c”. | (i) 17,65,88,040 (ii) 776,63,000 (iii) 989,25,000 | 516,469 | |
| 1.449 | M/s. Skyworth India Electronics Pvt Ltd | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 4 days . (ii) 1 years 10 months 5 days . | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | The company is engaged in “Wholesale of radio, television and other consumer electronics including CD/ DVD players and recorders”. | (i) 104,36,000 (ii) 22,16,19,200 | 216,000 | |
| 1.450 | M/s. Supreme Netsoft Private Limited | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 7 months 6 days to 7 years 8 months 15 days . (ii) 7 years 8 months 24 days . | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | The company is engaged in the business of rendering consultancy and other services in the field of computers and software development. | (i) 77,66,82,115 (ii) 50,67,900 | 114,675 | |
| 1.451 | M/s. Svasth Life Pvt Ltd. | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 5 months 14 days to 4 years 4 months 5 days (ii) 5 months 15 days to 4 years 4 months 6 days .. | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | The applicant company is engaged in business of other human health activities n.e.c. | (i) 468,37,67,722 (ii) 468,36,04,200 | 309,980 | |
| 1.452 | M/s. Lawrencedale Agro Processing (India) Pvt Ltd., | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 12 days to 1 months 9 days . (ii) 5 days to 23 days . | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | The applicant company is engaged in business of preparation of crops for primary markets, i.e. cleaning, trimming, grading, disinfecting. | (i) 300,00,00,500 (ii) 949,88,32,355 | 44,500 | |
| 1.453 | M/s. Nanoyotta Technologies Pvt Ltd | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 months 22 days . (ii) 11 months 12 days to 1 years 3 days . | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | The applicant company is engaged in business of other data processing, hosting and related activities. | (i) 196,91,250 (ii) 136,01,51,398 | 74,330 | |
| 1.454 | M/s. Indian Public School Pvt Ltd. | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 11 days to 1 years 1 months 27 days . (ii) 1 years 2 months 27 days . | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | The applicant company is engaged in business of primary education (education at the first level). | (i) 21,07,99,42,500 (ii) 408,00,00,000 | 104,670 | |
| 1.455 | M/s. Dvivert Solutions Pvt Ltd. | Nov/2018 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 4 days . | The contravention sought to be compounded is delay in allotment of shares in terms of Paragraph 2(2) of Schedule I. | The applicant company is engaged in the business of providing software support and maintenance to the clients. | 16,700,000 | 133,500 | |
| 1.456 | M/s. GI Tech Gaming Co. India Pvt Ltd. | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 years 1 months 13 days . (ii) 8 days to 27 days ; (iii) 2 years 1 months 9 days . | (i) Delay in submission of Form FCGPR on allotment of shares with Reserve Bank. (ii) allotment of shares prior to receipt of full consideration. (iii) delay in refund of excess inward remittance received. | The applicant company is engaged in the business of other information technology and computer service activities n.e.c | (i) 50,74,98,74,000 (ii) 490,26,69,392 (iii) 37,51,71,200 | 471,591 | |
| 1.457 | M/s. SEI Kathiravan Power Pvt Ltd. | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 4 days . (ii) 22 days to 1 years 3 months 1 days . | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | The applicant company is engaged in business of electric power generation using solar energy. | (i) 273,32,80,000 (ii) 85,09,31,33,400 | 215,580 | |
| 1.458 | M/s. Berthold Technologies (India) Pvt Ltd. | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 9 years 2 months 8 days . (ii) 9 years 8 months 8 days . | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | The applicant company is engaged in business of other professional, scientific and technical activities n.e.c. | (i) 125,00,000 (ii) 125,00,000 | 39,000 | |
| 1.459 | M/s. Greenko Anil Energy Pvt Ltd. | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 years 4 months 28 days . (ii) 2 years 3 months 2 days . (iii) 28 days . | (i) Delay in reporting of receipt of foreign inward remittances towards subscription of equity. (ii) Delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. (iii) Delay in allotment of shares to a person resident outside India. | The applicant company is engaged in business of electric power generation using solar energy. | (i) 100,000 (ii) 100,000 (iii) 100,000 | 62,625 | |
| 1.460 | M/s. SEI Agni Power Pvt Ltd. | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 years 2 months 27 days . (ii) 1 years 10 months 7 days . | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | The applicant company is engaged in business of electric power generation using solar energy. | (i) 100,000 (ii) 100,000 | 23,170 | |
| 1.461 | M/s. Solar Soles Pvt Ltd. | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 12 years 8 months 11 days . (ii) 12 years 8 months . | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | The applicant company is engaged in business of manufacture of other footwear n.e.c. | (i) 7,83,30,500 (ii) 7,76,40,000 | 58,170 | |
| 1.462 | M/s. Shinc Consultants Private Limited. | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 12 years 11 months 27 days . (ii) 10 years 10 months 27 days . | (i) delay in submission of Form FCGPR on allotment of shares with Reserve Bank. (ii) delay in refund of excess inward remittance received. | The applicant company is engaged in business of management consultancy activities. | (i) 999,99,000 (ii) 34,91,01,000 | 107,275 | |
| 1.463 | M/s. Stilla Enterprises India Pvt Ltd. | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 years 11 months 24 days to 8 years 9 months 3 days , (ii) 2 years 11 months to 7 years 10 months 18 days . | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | The applicant company is engaged in business of finishing of upper leather, lining leather and garment leather etc. | (i) 21,31,83,500 (ii) 21,31,60,000 | 100,385 | |
| 1.464 | M/s. Sudhin Biotech Pvt Ltd. | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 11 days to 2 months 4 days . (ii) 1 months 1 days to 2 months 13 days . | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | The applicant company is engaged in business of Research and experimental development on natural sciences and engineering. | (i) 23,50,00,000 (ii) 20,00,00,000 | 21,410 | |
| 1.465 | M/s Banger Tech Private Limited | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 3 months. | The contraventions sought to be compounded is for delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India beyond the stipulated 30 days | The applicant, M/s Banger Tech Private Limited, was incorporated under Companies Act, 1956, on March 21, 2014 and is in the business of information technology and computer service activities n.e.c. | 9,929,978 | 11,750 | |
| 1.466 | M/s Ganpati-RV-Talleres Alegria Track LLP | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 124 months. | The contraventions sought to be compounded is for delay in refund of the excess amount of inward remittances beyond the stipulated 180 days of the receipt of inflow to a person resident outside India. | The applicant, M/s Ganpati-RVTalleres Alegria Track LLP, was previously incorporated under Companies Act, 1956, on August 08, 2007 as M/s Ganpati-RV-Talleres Alegria Track Pvt. Ltd. and later converted to M/S Ganpati-RV-Talleres Alegria Track LLP onn February 07, 2018 and is in the business of manufacturing, trading and supplying railway track materials and accessories to Indian Railways. | 72,427 | 72,427 | |
| 1.467 | M/s Sri Gayatri Minerals Private Limited | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 29 months. | The contraventions sought to be compounded is for delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India beyond the stipulated 30 days. | The applicant, M/s Sri Gayatri Minerals Private Limited, was incorporated under Companies Act, 1956, on January 24, 2000 and is in the business of manufacture of ferro-alloys. | 34,975,757 | 251,667 | |
| 1.468 | M/s W. Hunger Hydraulics India Private Limited | Nov/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 3 months and 22 months. | The contraventions sought to be compounded is for delay in submission of Form FCGPR to the Reserve Bankafter issue of shares to a person resident outside India beyond the stipulated 30days. | The applicant, M/s W. Hunger Hydraulics India Private Limited, was incorporated under Companies Act, 1956, on September 18, 2006 and is in the business of manufacture of fluid-power equipment and other plastic products. | 25,000,000 | 103,417 | |
| 1.469 | Glenmark Life Sciences Limited | Dec/2018 | FEMA -Borrowing & Lending in Rupees Regulations 2000 | FEMA 4/2000-RB | In terms of Regulation 5(1) of Notification No. FEMA 4/2000-RB “a company incorporated in India may borrow in rupees on repatriation or non - repatriation basis, from a nonresident Indian or a person of Indian origin resident outside India by way of investment in Non -convertible Debentures (NCDs) subject to the conditions specified therein.” | 2 years 5 months to 6 years 10 months | The contraventions sought to be compounded relate to borrowing undertaken by the applicant company without issuance of any NonConvertible Debentures (NCDs) and noncompliance with the reporting requirements | The applicant company is engaged in the business of dealing, distributing and marketing of all types of pharmaceutical, chemical products of medicaments including multivitamins, antibiotics, antacids, pain killers and expectorants etc. | 376,667 | 75,300 | |
| 1.470 | M/s Emoksha Technologies Pvt. Ltd. | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 725 days. | The contravention sought to be compounded pertain to delay in submission of FCGPR to the Reserve Bank after issue of shares. | The applicant is engaged in the business of Computer service activities. | 99,990 | 1,041,600 | |
| 1.471 | M/s Heinen & Hopman Engineering (I) Pvt. Ltd. | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 105 months. | The contraventions sought to be compounded is for delay in refund of the excess amount of inward remittances beyond the stipulated 180 days of the receipt of inflow to a person resident outside India | The applicant is in the business of manufacturing of refrigerating and freezing equipment for industrial use, including assemblies of major components. | 324,000 | 48,645 | |
| 1.472 | M/s Roid Technologies Private Limited | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 days to 2 months and 19 days (ii) 4 days to 11 months and 6 days. | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | The company is engaged in the business of developing mobile application that enables user to access application from various publishers without downloading them. | (i) 72,38,35,265 (ii) 127,83,86,582 | 31,325 | |
| 1.473 | M/s TUV Rheinland (India) Private Limited | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 24 days to 3 years 5 months and 12 days. | The contravention sought to be compounded is delay in submission of Form FCGPR to the Reserve Bank, after issue of shares to a person resident outside India | The company is engaged in the business of Testing and certifying the quality/safety of various products including material components, home appliances, audio/video appliances, office equipment, medical equipment, industrial devices, and offering management certificate systems such as ISO 9001, ISO 14001 and homologation, etc. | 1,579,946,720 | 1,019,000 | |
| 1.474 | M/s Streparava India Private Limited | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 4 months and 8een days to 3 years 2 months and twenty days. (ii) 4 months and 2 days to 3 years 1 months and 2 days. (iii) 1 days to twenty days. | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) allotment of shares beyond 180 days from the date of receipt of inward remittance. (iii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | The company is engaged in the business of manufacturing automobiles parts. | (i) 38,46,90,37,750 (ii) 38,46,90,37,750 (iii) 38,46,90,37,750 | 1,784,270 | |
| 1.475 | M/s Core Providers India Private Limited | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 years 4 months and 25 days | The contravention sought to be compounded is allotment of shares to persons resident outside India, prior to receipt of inward remittances, | The company is engaged in the business of providing software consultancy and other information technology enabled services. | 99,990 | 14,000 | |
| 1.476 | M/s Liwayway Foods India Private Limited | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 days to 1 years 1 months and 28 days. (ii) 8 days to 1 years 2 months and 24 days. (iii) days to 1 years 2 months and 24 days. | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) allotment of shares beyond 180 days from the date of receipt of inward remittance. (iii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | The company is engaged in the business of manufacturing, buying and selling all types and kinds of flavors for food industry. | (i) 30,62,97,21,741 (ii) 245,68,29,200 (iii) 22,78,03,66,000 | 209,110 | |
| 1.477 | M/s Davinta Technologies India Private Limited | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 6 days to 1 years 5 months and 2 days. (ii) 2 days to 1 years 5 months and 9 days. | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | The company is engaged in the business of information technology, software development and computer services. | (i) 10,38,55,76,800 (ii) 48,54,02,43,000 | 346,750 | |
| 1.478 | M/s Turningpoint Software Solutions Private Limited | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 6 years 11 months and 8 days | The contravention sought to be compounded is delay in refund of excess share application money to the foreign investors, persons resident outside India, beyond 180 days from the date of receipt of the inward remittances | The company is engaged in the business of providing services in software development and business process outsourcing which includes health information technology, telecommunications life style management, infrastructure O & M services and PMO support services. | 93,218 | 64,716 | |
| 1.479 | M/s Mydime Systems Private Limited | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 10 months and twenty 3 days. | The contravention sought to be compounded is delay in refund of excess share application money to the foreign investors, persons resident outside India, beyond 180 days from the date of receipt of the inward remittances | The company is engaged in the business of developing, promoting and take to market end to end integrated digital marketing product solutions for handheld and other devices including software application development, coding, scripting and any other intellectual property development related to the solutions product of mobile application for digital marketing. | 16,672 | 1,493 | |
| 1.480 | M/s Seven India Hospitality Private Limited | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3 days to 1 months and 10 days. (ii) 8 years 5 months and 19 days to 10 years 5 months and 15 days. (iii) 2 days to 1 years and 1 days (iv) months twenty days to 8 months and 27 days. | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) allotment of shares beyond 180 days from the date of receipt of inward remittance. (iii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. (iv) delay in reporting the transfer of shares by NonResident to Resident | The activity undertaken by the company is providing Accommodation Services, viz. Hotels and Motels, Drive-inns, resorts providing short term lodging facilities, including accommodation in house boats. | (i) 288,95,96,600 (ii) 688,200 (iii) 10,17,37,35,072 (iv) 126,55,62,900 | 116,543 | |
| 1.481 | M/s. Mitchell Martin (India) Private Limited | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 29 days (ii) 3 months 9 days to 1 years 3 months 17 days . (iii) 10 months 18 days to 1 years 9 months 7 days (iv) 10 months . | (i) delay in reporting of receipt of foreign inward remittances towards subscription of equity. (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India, (iii) delay in receipt of consideration afterallotment of shares to a person resident outside India (iv) delay in refund of excess share application money to a person resident outside India | The company is engaged in the business of “Human resources provision and management of human resources functions”. | (i) 99,700 (ii) 16,31,928 (iii) 102,996 (iv) 309,643 | 13,116 | |
| 1.482 | M/s. UPI Polymers Private Limited | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 months 17 days to 7 months 26 days . (ii) 19 days to 5 months 7 days . | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | The company is engaged in the business of manufacturing High Density Polyethylene Pipes (HDPE) and fitting. | (i) 891,59,909 (ii) 120,00,0000 | 112,000 | |
| 1.483 | M/s. Freyr Energy Services Private Limited | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 4 months 14 days . (ii) 11 months 25 days . | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | The company is engaged in Manufacture of other electrical equipment. | (i) 118,26,875 (ii) 118,26,870 | 91,000 | |
| 1.484 | M/s. Minerva Enterprises Private Limited | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 06 years 11 months 19 days to 7 years 02 months 22 days . | The contravention sought to be compounded is, delay in submission of Form FCGPR to Reserve Bank of India after issue of shares towards subscription to equity to a person resident outside India. | The company is engaged in the business of other services incidental to transport. | 18,456,000 | 109,750 | |
| 1.485 | M/s. Vasudeva Dall Products Private Limited | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 10 days to 3 years 6 months 23 days . (ii) 6 months 5 days to 3 years 10 months 3 days . | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | The company is engaged in the activity of processing of pulses (dal) and other grains. | (i) 225,06,250 (ii) 280,66,254 | 150,500 | |
| 1.486 | M/s. LEPL Renergy Private Limited | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 days to 6 months 29 days . (ii) 5 months 1 days to 1 years 5 months 21 days . | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | The company is engaged in the business of “Electric power generation using other non-conventional sources”. | (i) 28,14,49,53,849 (ii) 30,16,76,630 | 555,200 | |
| 1.487 | Shri. Jeetender Prashad | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 3 years 15 days . | The contravention sought to be compounded is, delay in reporting the transfer of shares in form FCTRS beyond the stipulated time period. | The applicant received an inward remittance of 1,48,903.91 from M/s. Contact Lens Precision Laboratories Limited (purchaser), through M/s. Ultravision International Limited, which is a wholly owned subsidiary of the purchaser on September 14, 2015 towards sale purchase agreement for transfer of 9500 equity shares to the purchaser by the applicant. | 14,890,391 | 13,080 | |
| 1.488 | M/s. Module MD Healthcare Solutions Private Limited | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 5 months 06 days . (ii) 1 years 13 days . | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | The company is engaged in the business of Data Processing activities including report writing. | (i) 10,98,462 (ii) 109,6651 | 23,950 | |
| 1.489 | M/s. Tepsol Photovoltaic Private Limited | Dec/2018 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 14 days . | Delay in refund of excess share application money to the nonresident investor. | The company is engaged in the business of generating electric power using solar energy. | 25,692,228 | 178,461 | |
| 1.490 | M/s. Aayush NRI LEPL Healthcare (P) Ltd | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 19 days to 7 months 28 days . (ii) 3 months 13 days to 9 months 15 days . (iii) 9 days to 2 months 18 days repectively. | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. (iii) allotment of shares beyond 180 days from the date of receipt of inward remittance. | The company is engaged in “Hospital activities”. | (i) 105,20,462 (ii) 24,62,0050 (iii) 20,742 | 49,728 | |
| 1.491 | Maharashtra Transmission Communication Infrastructure Limited | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 years 1 months 3 days | The applicant company failed to obtain prior approval of the Foreign Investment Promotion Board (FIPB) of Government of India, to issue shares to a person resident outside India beyond the sectorial limits stipulated in Annexure B to Schedule I to FEMA 20/2000 RB. | The main activities of the applicant are to carry on the business in the field of telecom by creating, raising, developing and maintaining infrastructure of dark fibre through OPGW/ cabling, right of way, duct space and towers on lease/ rent out basis and to acquire space for provision of co-location facilities, for telecom equipment, towers, antennas or any other transmitting devices; to engage in sales and marketing of the above services and providing total infrastructure solution to all the entities including telecom sector, in the state of Maharashtra and outside. The Applicant company viz. MTCIL allotted 25,500 shares to M/s Sterlite Technologies Ltd (STL) for INR 2,55,000 on 09-08-2012. It is a case of downstream investment wherein the FDI came in the applicant company from M/s Twinstar Overseas Ltd (TOL) through STL. The foreign collaborator in this transaction was TOL. With this transaction the company had received foreign equity of 51% against 49 % allowed under Automatic route by Annex B to Schedule I under FEMA 20/2000-RB. Whereas, as per the provisions of Para 3 to Schedule I under FEMA 20/2000-RB, applicable at the time of investment. | 255,000 | 5,140,300 | |
| 1.492 | Baroda Trustee India Private Limited | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 01 months 15 days (ii) 27 days (iii) Financial years 2012-13 to 2016-17. | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. (iii) delay in filing ‘Annual Return on Foreign Liabilities and Assets’ (FLA Returns) | Its main activities are to accept appointment as trustees and to act as trustees for every kind of private and public trusts, whether charitable or not, or other funds, including but not limited to individuals, institution and government, and for that purpose to set up, promote, settle and execute trust and devise various schemes for raising funds in any manner from persons, body corporates, trusts, societies, association of persons in India and abroad and to collect money by ways of contributions, loans or otherwise for and on behalf of trusts or other funds and to deploy the monies/funds raised and earn returns on their investments and to acquire, hold, manage, dispose of all or any property or assets. | (i) 255,00,000 (ii) 255,00,000 | 70,250 | |
| 1.493 | Eurocao Foods India Private Limited | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 20 days to 01 months 07 days, . (ii) 01 days to 02 years 04 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | Its main activities are to carry on the business in the field of production, processing, dealing, sale, purchase, import, export & trade of all types of raw materials, ingredients & semi-finished products required for industries like bakery , ice cream including all types of food products and allied bye products capable of producing, cultivating, processing, reprocessing, preserving, reigning, packing, preparing and to manipulate, treat, market, import, improve,, produce, process, prepare, buy, sell, deal in and trade in such products like cakes, pastry, doughnuts, snacks items, biscuits, foods, beverages including agro products, organic and inorganic products, health foods, energy foods, jams, jellies, chocolates, pickles, cider, chutney, marmalades, mayonnaise, mustard, deserts, coffee, , water ice products, yoghurt and beverages of every description in India and abroad. | (i) 90,09,42,500 (ii) 90,09,44,000 | 2,433,300 | |
| 1.494 | Diffusion Engineers Limited | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 11 years 09 months 21 days to 11 years 09 months 27 days (ii) 08 years 06 months 20 days to 13 years 09 months 23 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | It is engaged in carrying on business of Manufacturers, dealers, marketers, importers and exporters of welding electrodes, flux coated and bare gas welding rods, powders, fluxes, pastes, welding wires (flux-cored and solid), wear resistant plates, polymer epoxy resins of engineering and other grades. | (i) 25,00,56,000 (ii) 71,89,15,000 | 19,125,000 | |
| 1.495 | Wazzeer Internet Private Limited | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 4 months 26 days to 9 months 6 days (ii) 3 months 6 days to 9 months 25 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | Its main activities are (i) to carry on the business, whether in India or elsewhere in the world, as service provider to cater to needs of business, industry, trade, commerce in relation to and for facilitation of purchase and sale of any kind services or products by any third parties through any medium, including by developing and operating a portal for listing of products and services and enabling users to obtain such services or products from third party vendors or professionals and to act as a connecting link whether offline or online using various mediums such as internet, web technology, mobile or any other available technology between service providers willing to provide the services mainly in domain of but not limited to accounting, finance, law, advisory, compliance, business management and support, business development, risk management, due diligence, audit and assurance, loan syndication, project management, advisory services, research, business structuring, consultancy,stores, shops, creating shopping catalogues, providing secured payment processing, e-commerce solutions for business to business and business to consumers, online trading in and outside India but does not include banking and money circulating business. | (i) 93,73,12,693 (ii) 126,02,80,000 | 3,708,300 | |
| 1.496 | Zeva Capsol Private Limited | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 22 days to 04 months 15 days (ii) 01 months 25 days to 04 months 24 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | Its main activities are i) to establish a web portal and internet-based market place platform for crowd sourcing capital (from India and overseas) for start Ups and early stage companies/ventures, including providing access to an ecosystem of allied services for such start Ups and early stage companies/ventures and establish incubation centres and provide incubation services .ii) to provide investment advisory services to various funds promoted by or sponsored by or set up by the company. | (i) 68,62,13,365 (ii) 78,54,63,338 | 2,483,300 | |
| 1.497 | Kennigton Industries Private Limited | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 4 days to 1 months 12 days (ii) 16 days to 1 years 1 months 4 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | Its main activities are (i) to carry on the business of spinners, weavers, manufacturers, traders, ginners, packers and balers of cotton , jute, hemp, silk, artificial silk, rayon, man-made synthetics, fibre polyester, acrylic, polypropylene, staple fibers, wool and other fibers and fibrous and the business of weaving or otherwise manufacturing bleaching, dying, printing, finishing or otherwise processing and selling yarn, cloth, linen, other goods and fabrics whether knitted or looped and of buying, selling, importing, exporting and/or otherwise dealing in cotton, silk, art silk, rayon, man-made synthetics, fibers, staple fibers, wool hemp and other fibrous material yarn cloth, linen rayon to run handloom mill, power loom mill, textiles ,=mills, commission agent and trading in textiles and all type of yarns. (ii) To establish, organize, manage, run, conduct, contract, develop, handle, own, operate and to do the business of Container Freight Station (CFS) and to act as Custom House Agent (CHA). (iii) To carry on all or any of the business of buyers, sellers, suppliers, traders, merchants, importers, exporters, indenters, brokers, agents, assemblers, packers, stockists, distributors and dealers of and in all kind of agriculture produces. | (i) 10,51,28,44,400 (ii) 10,02,40,20,000 | 11,758,300 | |
| 1.498 | Aastrid Life Sciences Private Limited | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 01 years 02 months 23 days to 01 years 10 months 07 days (ii) 11 days to 02 years 10 months 22 days (iii) 10 months 26 days to 02 years 10 months 16 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. (iii) neither the equity instruments were issued, nor the money refunded to the foreign investor, a person resident outside India within 180 days of the receipt of the inward remittance | Its main activities are to carry on the business of manufacture, research, development, buying, selling, importing and exporting pharmaceuticals raw materials, finished formulations, biotech products, intermediates and fine chemicals for pharmaceutical and Agro industries. | (i) 45,55,50,000 (ii) 324,69,50,000 (iii) 127,12,52,000 | 18,411,600 | |
| 1.499 | M/s. Green Field Amusement Private Limited | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 years 11 months and 18 days | The contravention sought to be compounded is delay in submission of Form FCGPR to the Reserve Bank after issue of shares | The applicant was incorporated on February 21, 2006 and deals in carrying out the business to buy, sell, import export, manufacture, process convert, grind treat and in merchandise commodities and articles of all kinds and generally to carry on business as traders, importers and exporters and to act as purchasing, selling or commission agents | 14,910,210 | 110,000 | |
| 1.500 | M/s. Sunzo Engineering (India) Private Limited | Dec/2018 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 1 months and 28 days | The contravention sought to be compounded is; delay in issue of shares beyond 60 days in terms of paragraph 2 of Schedule I to Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) | The applicant company was incorporated on May 12, 2016 and deals in site preparation including drilling, boring and core sampling for construction, geophysical, geological or similar purposes. | 2,120,125 | 60,600 | |
| 1.501 | M/s. E-IT Solutions India Pvt Ltd. | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 4 years 1 months 22 days (ii) 1 years 7 months 13 days to 1 years 7 months 16 days | (i) delay in submission of Form FCGPR on allotment of shares with Reserve Bank (ii) allotment of shares prior to receipt of consideration | The applicant company was incorporated on February 26, 2014 under the provisions of the Companies Act, 1956 (Registration No: U72900TN2014PTC095195) and is engaged in the business of tax consultancy. | (i) 100,00,000 (ii) 100,00,000 | 44,521 | |
| 1.502 | M/s. Best Semester India Studies Pvt Ltd | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 3 years 5 months | The contravention sought to be compounded is delay in refund of inward remittance received towards subscription to shares | The applicant company was incorporated on June 29, 2011 under the provisions of the Companies Act, 1956 (Registration No. U93090TZ2011PTC017199) and is engaged in the business of educational services rendered by non-techincal colleges schools, universities and other institutions. | 60,204 | 24,082 | |
| 1.503 | M/s. Synergy Maritime Recruitment Services Pvt Ltd. | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 12 days to 5 months (ii) 22 days to 5 months 11 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | The applicant company was incorporated on June 19, 2014 under the provisions of the Companies Act, 2013 (Registration No. U74900TN2014PTC096231) and is engaged in business of human resources provision and management of human resources functions. | (i) 216,55,10,000 (ii) 838,65,07,041 | 42,940 | |
| 1.504 | M/s. VMAX IQ Study Techniques Pvt Ltd. | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 days to 7 months 19 days (ii) 1 years 1 months 6 days to 1 years 5 months 6 days (iii) 3 months 14 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. (iii) allotment of shares prior to receipt of full consideration | The applicant company was incorporated on October 06, 2016 under the provisions of the Companies Act, 2013 (Registration No: U80210TN2016PTC112856) and is engaged in the business of educational support services. | (i) 111,23,50,000 (ii) 111,23,50,000 (iii) 950,000 | 82,820 | |
| 1.505 | M/s. Bachy Soletanche Engineering Pvt Ltd. | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 years 3 months 14 days (ii) 1 years 24 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | The applicant company was incorporated on February 11, 2015 under the provisions of the Companies Act, 2013 (Registration No. U45200TN2015FTC099177) and is engaged in business of construction of utility projects. | (i) 20,00,00,000 (ii) 20,00,00,000 | 26,025 | |
| 1.506 | M/s. Bierrebi Cutting Solutions Pvt Ltd. | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 4 months 17 days to 8 months 21 days | The contravention sought to be compounded is delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The applicant company was incorporated on June 06, 2017 under the provisions of the Companies Act, 2013 (Registration No. U29309TZ2017FTC029029) and is engaged in business of manufacture of other machinery for textiles, apparel and leather production. | 1,398,680 | 11,800 | |
| 1.507 | M/s. Envirocal India Pvt Ltd. | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3 months 20 days (ii) 1 months 19 days to 2 years 1 months and 8 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | The applicant company was incorporated on April 01, 2015 under the provisions of the Companies Act, 2013 (Registration No. U74900TN2015FTC099909) and is engaged in business of writing, modifying, testing of computer program to meet the needs of a particular client excluding web-page designing. | (i) 590,03,787 (ii) 10,89,97,000 | 22,670 | |
| 1.508 | M/s. RGS Construction Technologies (Pvt) Ltd. | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 years 2 months 7 days | The contravention sought to be compounded is delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The applicant company was incorporated on June 17, 2009 under the provisions of the Companies Act, 1956 (Registration No. U72900TN2009PTC071978) and is engaged in business of other information technology and computer service activities n.e.c. | 1,688,868 | 13,125 | |
| 1.509 | M/s. Pioneer Marine Advisers India Pvt Ltd. | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3 years 8 months 3 days to 3 years 8 months 11 days (ii) 3 years 6 months 26 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | The applicant company was incorporated on June 11, 2014 under the provisions of the Companies Act, 2013 and is engaged in business of other business support service activities n.e.c. | (i) 100,00,000 (ii) 100,00,000 | 31,080 | |
| 1.510 | M/s. Karma Primary Healthcare Services Private Limited | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 11 days to 5 months and 15 days (ii) 1 months and 19 days to 6 months and 25 days (iii) 7 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. (iii) delay in refund of excess share application money beyond the prescribed period of 180 days from the date of receipt of inflow of funds | The applicant was incorporated on August 11, 2014 under the provisions of the Companies Act, 2013 and is engaged in the business of Healthcare and related services. | (i) 64,09,458.84 (ii) 98,99,784.82 (iii) 945,875 | 28,966 | |
| 1.511 | M/s. Sehaj Synergy Technologies Private Limited | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 18 days to 5 months and 28 days (ii) 1 months and 24 days to 6 months and 24 days | (i) delay in reporting of inflow of funds received from person resident outside India for allotment of shares; (ii) Issue of Shares before the receipt of full amount of consideration as also delay in refund of excess share application money beyond the prescribed period of 180 days from the date of receipt of inflow of funds | The applicant was incorporated on January 21, 2015 under the provisions of the Companies Act, 2013 and is engaged in the business of Information Technologies and Computer Services related activities. | (i) 119,06,29,050 (ii) 19,27,920 | 12,123 | |
| 1.512 | Pal Rematerials India Pvt. Ltd. | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 95 to 102 days . (ii) 59 to 156 days . | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | The company is engaged in solving housing problem of low income segment/rural household across the globe applying various technology and innovation to materials and products used in the building/construction industry, bearing NIC Code: 17099 | (i) 36,89,830 (ii) 417,01,430 | 65,790 | |
| 1.513 | Arrow Designs India Pvt. Ltd. | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 632 days (ii) 821 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in allotment of shares / refund of share application money beyond stipulated period of 180 days | The company is engaged in other information service activities n.e.c, bearing NIC Code: 63999. | (i) 100,335 (ii) 100,335 | 52,352 | |
| 1.514 | Chhaganbhai Kanjibhai Detroja | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 2084 days | The contravention sought to be compounded is delay in refund of share transfer money beyond stipulated period of 60 days | The applicant has received three foreign inward remittances amounting to ₹44,04,775/- from foreign investor M/s Star India Holding Pte. Ltd., Singapore towards sale of equity shares of Belleza Ceramic Pvt. Ltd., Morvi. The transaction relating to transfer of shares between the applicant and foreign investor could not materialise due to unavoidable family circumstances. Thus, the applicant was required to unwind the transaction by refunding the entire amount of ₹44,04,775/- to M/s Star India Holding Pte. Ltd., Singapore. | 4,404,775 | 90,250 | |
| 1.515 | Rainbow Agrosciences Pvt. Ltd. | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 28 to 570 days . | The contraventions sought to be compounded is delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The company is engaged in the business of manufacturing, importing, exporting, etc. of all kinds of agrochemical products and chemicals and agricultural consulting services, bearing NIC Code: 46692. | 7,584,200 | 61,140 | |
| 1.516 | Onsite India Private Limited | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3 years, 7 months and 3 days. (ii) 3 years, 3 months and 11 days. | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | The applicant company was incorporated on August 20, 2007 and is engaged in the operation and maintenance of sewer systems. | (i) 796,74,832 (ii) 796,74,832 | 555,000 | |
| 1.517 | New Northeast Electric India Private Limited | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 28 days to 7 months and 24 days. (ii) 2 months and 11 days to 11 months and 5 days. | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | The applicant company was incorporated on July 2, 2015 and is engaged in manufacturing of electric power distribution transformers, arc-welding transformers,transmission and distribution voltage regulators. | (i) 159,05,24,968 (ii) 159,05,24,970 | 341,000 | |
| 1.518 | Palm Land Hospitality Private Limited | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 years, 10 months and 7 days to 2 years, 2 months and 18 days. (ii) 5 months and 2 days. | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in allotment of shares / refund of share application money beyond stipulated period of 180 days | The company was incorporated on April 24, 2007 and is engaged in the business of hotels, rooms, camps and other lodging places. | (i) 900,00,000 (ii) 200,00,000 | 543,500 | |
| 1.519 | Sandhar Technologies Limited | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | 5 years, 6 months and 5 days and 8 years, 2 months and 17 days. | The contraventions sought to be compounded are those of delay in filing Form FCGPR after issue of shares | The company was incorporated on October 19, 1987 and is engaged in manufacture of diverse parts and accessories for motor vehicles. | 15,096,580 | 309,625 | |
| 1.520 | Apache Footwear India Private Limited | Dec/2018 | FDI | FEMA 10/2000-RB | The applicant has received multiple foreign inward remittances from Apache Investment Holding Pte Ltd (AIHPL) as foreign direct investment. Out of these, a total of 51 inward remittances received from 2006 to 2009, were erroneously credited to/received in the EEFC account (instead of the current account of the applicant company). As this was not a permissible credit to an EEFC account, it resulted in a contravention of Regulation 4 read with Paragraph 2 of Schedule I of Notification No. FEMA 10/2000 –RB. | 1 days to 331 days | The applicant has sought to be compounded for credit of remittances received towards FDI in the EEFC account | The applicant company is engaged in the business of manufacturing, buying, selling, exporting, importing, distributing and dealing in all kinds of footwear, rubber and plastic goods, sports apparel etc. | 75,817,809,460 | 3,840,890 | |
| 1.521 | Tavisca Solutions Pvt Ltd | Dec/2018 | ODI | FEMA 120/RB-2004 | Delay in reporting | (i) in receipt of hare Certificate (ii) in ubmiion of APR within the tipulated time period (iii) in ubmiion of ODI Form Part I (iv) Method of Funding of ODI through cah. | (i)3 months (ii) 34 months (iii) 31 months (iv) 34 months | The applicant is engaged in the business of Software/hardware development, maintenance, up gradation, installation, distribution consultation etc. The applicant set-up a wholly owned subsidiary (WOS), Tavisca LLC, a newly incorporated company located at 3422, Old Capital Trail, suite 700, Wilmington, DE 19808-6192, USA. Managing Director of the applicant company had invested USD 500(INR 30,766) towards capital investment in Cash in the overseas WOS | (i)30,766 (ii) 30,766 (iii) 30,766 (iv) 30,766 | 17,819 | |
| 1.522 | ND Callus Info Services Pvt. Ltd. | Dec/2018 | FDI | FEMA 20/2000-RB | Regulation 14(6)(ii) of Notification No. FEMA 20/2000-RB states that, “Downstream investments by Indian companies will be subject to the following conditions: (d) For the purpose of downstream investment, the Indian companies making the downstream investments would have to bring in requisite funds from abroad and not used funds borrowed in the domestic market. This would, however, not preclude downstream operating companies, from raising debt in the domestic market. Downstream investments through internal accruals are permissible by an Indian company, subject to the provisions of clause (i) above and as also elaborated below: A. Foreign investment into an Indian company, engaged only in the activity of investing in the capital of other Indian company/ies, will require prior Government/FIPB approval, regardless of the amount or extent of foreign investment…..” | 4 years and 3 months . | The applicant has sought to be compounded for not seeking the approval of Government/erstwhile FIPB regarding downstream investment by a foreign owned and controlled company in an Indian company engaged only in the activity of investing in the capital of other Indian companies. | ND Callus Info Services Private Limited is engaged in investment activities as a core investment company. It is wholly owned by M/s MV Healthcare Services Private Limited, a company incorporated in India, which is further wholly owned by M/s Scorpios Beverages Limited, another company incorporated in India. Prior to February 2014, M/s CGP India Investments Limited, a company incorporated in Mauritius, held a 49% stake in M/s Scorpios Beverages Limited. Post FIPB approval received in February 2014, it acquired the remaining 51% stake in M/s Scorpios Beverages Limited from its Indian shareholders. Thus, M/s Scorpios Beverages Limited and further, M/s MV Healthcare Services Private Limited became directly and indirectly foreign owned and controlled companies respectively. The downstream investment (Rs. 508,31,13,300/-), held by the applicant, made by M/s MV Healthcare Services Private Limited, thus came under Government/erstwhile FIPB approval route from February 2014, as the applicant is engaged in the activities of a core investment company. | 5,083,113,300 | 35,631,793 | |
| 1.523 | SMMS Investments Pvt. Ltd. | Dec/2018 | FDI | FEMA 20/2000-RB | Regulation 14(6)(ii) of Notification No. FEMA 20/2000-RB states that, “Downstream investments by Indian companies will be subject to the following conditions: (d) For the purpose of downstream investment, the Indian companies making the downstream investments would have to bring in requisite funds from abroad and not used funds borrowed in the domestic market. This would, however, not preclude downstream operating companies, from raising debt in the domestic market. Downstream investments through internal accruals are permissible by an Indian company, subject to the provisions of clause (i) above and as also elaborated below: A. Foreign investment into an Indian company, engaged only in the activity of investing in the capital of other Indian company/ies, will require prior Government/FIPB approval, regardless of the amount or extent of foreign investment…..” | 4 years and 3 months . | The applicant has sought to be compounded for not seeking the approval of Government/erstwhile FIPB regarding downstream investment by a foreign owned and controlled company in an Indian company engaged only in the activity of investing in the capital of other Indian companies. | SMMS Investments Private Limited is engaged in investment activities as a core investment company. It is wholly owned by M/s Telecom Investments India Private Limited, a company incorporated in India. The shares in M/s Telecom Investments India Private Limited are jointly held by M/s ND Callus Info Services Private Limited (incorporated in India but foreign owned and controlled after February 2014), M/s Nadal Trading Company Private Limited (incorporated in India but foreign owned and controlled after February 2014) and M/s CGP India Investments Limited (incorporated in Mauritius). M/s ND Callus Services Private limited is wholly owned by M/s MV Healthcare Private Limited, further wholly owned by M/s Scorpios Beverages Private Limited. Prior to February 2014, M/s CGP India Investments Limited, a company incorporated in Mauritius, held a 49% stake in M/s Scorpios Beverages Limited. In February 2014, it acquired the remaining 51% stake in M/s Scorpios Beverages Limited from its Indian shareholders. Thus, M/s Scorpios Beverages Limited became a directly foreign owned and controlled company. Due to this acquisition, M/s Telecom Investments India Private Limited also became indirectly foreign owned and controlled company. The investment (Rs. 43,89,09,992/-), held by the applicant, made by M/s Telecom Investments India Private Limited, thus came under Government/erstwhile FIPB approval route from February 2014, as the applicant is engaged in the activities of a core investment company. | 4,389,099,920 | 30,773,699 | |
| 1.524 | Usha Martin Telematics Ltd. | Dec/2018 | FDI | FEMA 20/2000-RB | Regulation 14(6)(ii) of Notification No. FEMA 20/2000-RB states that, “Downstream investments by Indian companies will be subject to the following conditions: (d) For the purpose of downstream investment, the Indian companies making the downstream investments would have to bring in requisite funds from abroad and not used funds borrowed in the domestic market. This would, however, not preclude downstream operating companies, from raising debt in the domestic market. Downstream investments through internal accruals are permissible by an Indian company, subject to the provisions of clause (i) above and as also elaborated below: A. Foreign investment into an Indian company, engaged only in the activity of investing in the capital of other Indian company/ies, will require prior Government/FIPB approval, regardless of the amount or extent of foreign investment…..” | 4 years and 3 months . | The applicant has sought to be compounded for not seeking the approval of Government/erstwhile FIPB regarding downstream investment by a foreign owned and controlled company in an Indian company engaged only in the activity of investing in the capital of other Indian companies. | Usha Martin Telematics Limited is engaged in investment activities as a core investment company. M/s UMT Investments Limited, a company incorporated in India holds 99.99997% shares of the applicant company. M/s UMT Investments Limited is wholly owned by M/s Jaykay Finholding (India) Private Limited, which is further wholly owned by M/s Telecom Investments India Private Limited, both incorporated in India. The shares in M/s Telecom Investments India Private Limited are jointly held by M/s ND Callus Info Services Private Limited (incorporated in India but foreign owned and controlled after February 2014), M/s Nadal Trading Company Private Limited (incorporated in India but foreign owned and controlled after February 2014) and M/s CGP India Investments Limited (incorporated in Mauritius). M/s ND Callus Services Private limited is wholly owned by M/s MV Healthcare Private Limited, further wholly owned by M/s Scorpios Beverages Private Limited. | 1,975,954,440 | 13,881,681 | |
| 1.525 | Omega Telecom Holdings Pvt. Ltd. | Dec/2018 | FDI | FEMA 20/2000-RB | Regulation 14(6)(ii) of Notification No. FEMA 20/2000-RB states that, “Downstream investments by Indian companies will be subject to the following conditions: (d) For the purpose of downstream investment, the Indian companies making the downstream investments would have to bring in requisite funds from abroad and not used funds borrowed in the domestic market. This would, however, not preclude downstream operating companies, from raising debt in the domestic market. Downstream investments through internal accruals are permissible by an Indian company, subject to the provisions of clause (i) above and as also elaborated below: A. Foreign investment into an Indian company, engaged only in the activity of investing in the capital of other Indian company/ies, will require prior Government/FIPB approval, regardless of the amount or extent of foreign investment…..” | 4 years and 3 months . | The applicant has sought to be compounded for not seeking the approval of Government/erstwhile FIPB regarding downstream investment by a foreign owned and controlled company in an Indian company engaged only in the activity of investing in the capital of other Indian companies. | Omega Telecom Holdings Private Limited is engaged in investment activities as a core investment company. Shares in the applicant company are jointly held by SMMS Investments Pvt Ltd and Vodafone Telecommunications (India) Ltd, both companies are incorporated in India. SMMS Investments Pvt Ltd is wholly owned by M/s Telecom Investments India Private Limited, a company incorporated in India. The shares in M/s Telecom Investments India Private Limited are jointly held by M/s ND Callus Info Services Private Limited (incorporated in India but foreign owned and controlled after February 2014), M/s Nadal Trading Company Private Limited (incorporated in India but foreign owned and controlled after February 2014) and M/s CGP India Investments Limited (incorporated in Mauritius). M/s ND Callus Services Private limited is wholly owned by M/s MV Healthcare Private Limited, further wholly owned by M/s Scorpios Beverages Private Limited. | 1,438,815,270 | 10,121,707 | |
| 1.526 | MV Healthcare Services Pvt. Ltd. | Dec/2018 | FDI | FEMA 20/2000-RB | Regulation 14(6)(ii) of Notification No. FEMA 20/2000-RB states that, “Downstream investments by Indian companies will be subject to the following conditions: (d) For the purpose of downstream investment, the Indian companies making the downstream investments would have to bring in requisite funds from abroad and not used funds borrowed in the domestic market. This would, however, not preclude downstream operating companies, from raising debt in the domestic market. Downstream investments through internal accruals are permissible by an Indian company, subject to the provisions of clause (i) above and as also elaborated below: A. Foreign investment into an Indian company, engaged only in the activity of investing in the capital of other Indian company/ies, will require prior Government/FIPB approval, regardless of the amount or extent of foreign investment…..” | 4 years and 3 months . | The applicant has sought to be compounded for not seeking the approval of Government/erstwhile FIPB regarding downstream investment by a foreign owned and controlled company in an Indian company engaged only in the activity of investing in the capital of other Indian companies. | MV Healthcare Services Private Limited is engaged in investment activities as a core investment company. It is wholly owned by M/s Scorpios Beverages Limited, a company incorporated in India. Prior to February 2014, M/s CGP India Investments Limited, a company incorporated in Mauritius, held a 49% stake in M/s Scorpios Beverages Limited. Post FIPB approval received in February 2014, it acquired the remaining 51% stake in M/s Scorpios Beverages Limited from its Indian shareholders. Thus, M/s Scorpios Beverages Limited and further, M/s MV Healthcare Services Private Limited became directly and indirectly foreign owned and controlled companies respectively. The investment (Rs. 379,30,40,530/-), held by the applicant, made by M/s Scorpios Beverages Limited, thus came under Government/erstwhile FIPB approval route from February 2014, as the applicant is engaged in the activities of a core investment company. | 3,793,040,530 | 26,601,284 | |
| 1.527 | Plustech Mercantile Company Pvt. Ltd. | Dec/2018 | FDI | FEMA 20/2000-RB | Regulation 14(6)(ii) of Notification No. FEMA 20/2000-RB states that, “Downstream investments by Indian companies will be subject to the following conditions: (d) For the purpose of downstream investment, the Indian companies making the downstream investments would have to bring in requisite funds from abroad and not used funds borrowed in the domestic market. This would, however, not preclude downstream operating companies, from raising debt in the domestic market. Downstream investments through internal accruals are permissible by an Indian company, subject to the provisions of clause (i) above and as also elaborated below: A. Foreign investment into an Indian company, engaged only in the activity of investing in the capital of other Indian company/ies, will require prior Government/FIPB approval, regardless of the amount or extent of foreign investment…..” | 4 years and 3 months . | The applicant has sought to be compounded for not seeking the approval of Government/erstwhile FIPB regarding downstream investment by a foreign owned and controlled company in an Indian company engaged only in the activity of investing in the capital of other Indian companies. | Plustech Mercantile Company Private Limited is engaged in investment activities as a core investment company. It is wholly owned by M/s AG Mercantile Company Private Limited, a company incorporated in India, which is jointly owned by CGP India Investments Ltd (a Mauritius based group company) 49% stake and remaining 51% stake was indirectly owned by CGP India Investments Ltd through its India subsidiary viz., ND Callus Info Services Private Limited. M/s ND Callus Services Private limited is wholly owned by M/s MV Healthcare Private Limited, further wholly owned by M/s Scorpios Beverages Private Limited. | 2,349,925,240 | 16,499,477 | |
| 1.528 | Nadal Trading Company Pvt. Ltd. | Dec/2018 | FDI | FEMA 20/2000-RB | Regulation 14(6)(ii) of Notification No. FEMA 20/2000-RB states that, “Downstream investments by Indian companies will be subject to the following conditions: (d) For the purpose of downstream investment, the Indian companies making the downstream investments would have to bring in requisite funds from abroad and not used funds borrowed in the domestic market. This would, however, not preclude downstream operating companies, from raising debt in the domestic market. Downstream investments through internal accruals are permissible by an Indian company, subject to the provisions of clause (i) above and as also elaborated below: A. Foreign investment into an Indian company, engaged only in the activity of investing in the capital of other Indian company/ies, will require prior Government/FIPB approval, regardless of the amount or extent of foreign investment…..” | 4 years and 3 months . | The applicant has sought to be compounded for not seeking the approval of Government/erstwhile FIPB regarding downstream investment by a foreign owned and controlled company in an Indian company engaged only in the activity of investing in the capital of other Indian companies. | Nadal trading Company Private Limited is engaged in investment activities as a core investment company. It is wholly owned by Plustech Mercantile Company Private Limited, a company incorporated in India, which is further owned by M/s AG Mercantile Company Private Limited. Prior to February 2014, 49% stake in M/s AG Mercantile Company Private Limited was held by CGP India Investments Ltd (a Mauritius based group company) and remaining 51% stake was indirectly owned by CGP India Investments Ltd through its India subsidiary viz., ND Callus Info Services Private Limited. M/s ND Callus Info Services Private Limited is wholly owned by M/s MV Healthcare Services Private Limited, a company incorporated in India, which is further wholly owned by M/s Scorpios Beverages Limited, another company incorporated in India | 3,660,995,140 | 25,676,966 | |
| 1.529 | AG Mercantile Company Pvt. Ltd. | Dec/2018 | FDI | FEMA 20/2000-RB | Regulation 14(6)(ii) of Notification No. FEMA 20/2000-RB states that, “Downstream investments by Indian companies will be subject to the following conditions: (d) For the purpose of downstream investment, the Indian companies making the downstream investments would have to bring in requisite funds from abroad and not used funds borrowed in the domestic market. This would, however, not preclude downstream operating companies, from raising debt in the domestic market. Downstream investments through internal accruals are permissible by an Indian company, subject to the provisions of clause (i) above and as also elaborated below: A. Foreign investment into an Indian company, engaged only in the activity of investing in the capital of other Indian company/ies, will require prior Government/FIPB approval, regardless of the amount or extent of foreign investment…..” | (i) 6 days . (ii) 10 days to 5 months 25 days . (iii) 4 years 3 months . | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. (iii) not seeking the approval of Government/erstwhile FIPB regarding downstream investment by a foreign owned and controlled company in an Indian company engaged only in the activity of investing in the capital of other Indian companies | AG Mercantile Company is engaged in investment activities as a core investment company. Its 49% stake is held by CGP India Investments Ltd (a Mauritius based group company) and remaining 51% stake was indirectly owned by CGP India Investments Ltd through its India subsidiary viz., ND Callus Info Services Private Limited. M/s ND Callus Services Private limited is wholly owned by M/s MV Healthcare Private Limited, further wholly owned by M/s Scorpios Beverages Private Limited | (i) 176,17,95,013 (ii) 116,59,74,600 (iii) 121,50,95,400 | 8,621,501 | |
| 1.530 | Genpact Enterprise Risk Consulting LLP | Dec/2018 | FDI | FEMA 20/2000-RB | In terms of Regulation 5(9) of FEMA 20: “A person resident outside India (other than a citizen of Pakistan or Bangladesh) or an entity incorporated outside India, (other than an entity in Pakistan or Bangladesh), not being a registered Foreign Institutional Investor or Foreign Venture Capital Investor or Qualified Foreign Investor registered with SEBI or Foreign Portfolio Investor registered in accordance with SEBI guidelines, may contribute foreign capital either by way of capital contribution or by way of acquisition/ transfer of profit shares in the capital structure of an LLP under Foreign Direct Investment, subject to the terms and conditions as specified in Schedule 9.” | 7 months and 11 days. | The contravention sought to be compounded is delay in reporting the receipt of remittances in Form Foreign Direct Investment – LLP (I), beyond the stipulated time period of 30 days | The applicant is a Limited Liability Partnership (LLP), formed on March 2, 2017, with M/s Genpact Consulting (Singapore) Pte. Ltd, Singapore, M/s Genpact Singapore Pte. Ltd., Singapore, Axis Risk Consulting Services Private Limited, India as partners LLPs shall report to the Regional Office concerned of the Reserve Bank, the details of the receipt of the amount of consideration for capital contribution and 'profit shares' in Form Foreign Direct Investment – LLP (I) as specified by Reserve Bank from time to time, through an AD Category - I bank, at the earliest but not later than 30 days from the date of receipt of the amount of consideration. | 8,990,000 | 94,950 | |
| 1.531 | Riverside Resorts & Holiday Homes Pvt. Ltd. | Dec/2018 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3 days to 1 years 4 months . (ii) 3 days to 1 years 9 months . | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity. (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India. | Riverside Home Developers Private Limited is engaged in the business of acquiring, purchasing or leasing land and developing the same into residential or commercial complexes. | (i) 20,33,85,52,050 (ii) 13,49,04,018 | 361,833 | |
| 1.532 | Quality Exim Pvt. Ltd. | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 11 days | The contraventions sought to be compounded is delay in allotment of shares / refund of share application money beyond stipulated period of 180 days | The company is engaged in the business of wholesale of fabrics, bearing NIC Code: 46411. | 193,631 | 53,517 | |
| 1.533 | Bitumag Industries Pvt. Ltd. | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 38 days . (ii) 35 days . | The contraventions sought to be compounded are (i) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India (ii) delay in allotment of shares / refund of share application money beyond stipulated period of 60 days | The company is engaged in manufacturing and trading in bitumen, specialty grades of bitumen, including polymer modified bitumen, specialties, modified bitumen, bitumen derivatives, water proofing materials, intermediaries, by-products etc. (NIC Code 2008: 20299). | (i) 38,00,000 (ii) 156,573 | 61,208 | |
| 1.534 | M/s Bombinate Technologies Private Limited | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 7 months and 15 days (ii) 1 years 2 months and 8een days (iii) 8een days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in refund of excess share application money (iii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | The company is engaged in the business of providing information technology services for social communications | (i) 17,15,00,000 (ii) 42,33,227 (iii) 10,04,91,93,387 | 34,825 | |
| 1.535 | M/s Regalix India Private Limited | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 6 years 9 months and 12 days. | The contravention sought to be compounded is allotment of shares to persons resident outside India, prior to receipt of inward remittances | The company is engaged in the business of providing software support and maintenance to its clients. | 100,000 | 30,750 | |
| 1.536 | M/s Ecolibrium Energy Private Limited | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 days to 27 days. | The contravention sought to be compounded is delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | The company is engaged in the business of providing Energy Monitoring solutions to industrial and commercial users in India through a software application. | 57,164,985 | 18,080 | |
| 1.537 | M/s Kitpay Private Limited | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 2 months and 26 days to 3 months and 21 days. | The contravention sought to be compounded is delay in submission of Form FCGPR to the Reserve Bank, after issue of shares to a person resident outside India | The company is engaged in the business of providing a platform for mobile commerce. | 36,823,910,669 | 55,500 | |
| 1.538 | M/s BRS Health and Research Institute Private Limited | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) eevn days to 27 days (ii) 1 months and 14 days to 3 months and 4 days. | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | The Company is engaged in the business of providing medical relief to public in all branches of medical schemes by all available means throughout India and abroad and also to engage in research and development of all medical sciences, treatments therapies, dietary supplements and also to carry on various trials. | (i) 11,96,38,81,500 (ii) 14,42,91,39,000 | 74,620 | |
| 1.539 | M/s. Onehub (Chennai) Pvt Ltd. | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 19 days (ii) 1 months 23 days . | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | The applicant company is engaged in business of Construction of buildings carried out on own-account basis or on a fee or contract basis. | (i) 13,46,45,00,000 (ii) 13,46,45,00,000 | 67,500 | |
| 1.540 | M/s. Renault India Pvt Ltd. | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 months 6 days to 8 months 11 days (ii) 1 months to 9 months 10 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | The applicant company was incorporated on November 14, 2005 under the provisions of the Companies Act, 1956 ) and is engaged in business of wholesale and retail sale of new vehicles (passenger motor vehicles, ambulances, minibuses, jeeps, trucks, trailers and semi-trailers). | (i) 424,00,00,00,000 (ii) 16,00,00,00,00,000 | 444,000 | |
| 1.541 | M/s Curefit Healthcare Private Limited | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3 days to 3 months and 15 days (ii) 1 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | The Company is engaged in the business of providing an integrated platform for preventive health care management through effective use of technology and data. It also provides group services to other entities in the group. | (i) 52,05,08,48,993 (ii) 70,49,00,00,000 | 67,075 | |
| 1.542 | M/s Chennai Residential Developers Private Limited | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 9 days to 1 months and 7 days. | The contravention sought to be compounded is delay in submission of Form FCGPR to the Reserve Bank, after issue of shares to a person resident outside India | The company is engaged in the business of construction of buildings carried out on own account basis or on a fee or contract basis. | 3,600,000 | 10,370 | |
| 1.543 | M/s Enerparc Solar Power 1 Private Limited | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 3 months and 15 days to 4 months and 8 days. | The contravention sought to be compounded is delay in reporting receipt of foreign inward remittances towards subscription to equity | The activity undertaken by the Company is to act in India or elsewhere as purchasers, traders, creators, generators, manufacturers, producers, procurers, suppliers, distributors, processors, developers, storers, carriers and dealers in renewable energy sources. | 2,506,370 | 11,245 | |
| 1.544 | M/s Vekoma Rides Equipment (India) Private Limited | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 4 years 3 months and 22 days to 5 years 10 months and 8 days. | The contravention sought to be compounded is delay in submission of Form FCGPR to the Reserve Bank, after issue of shares to a person resident outside India | The company is engaged in the business of setting up of entertainment centers, importing various machines and equipment in connection with amusement and gaming operation of entertainment centers. | 19,105,650 | 267,940 | |
| 1.545 | M/s UNBXD Software Private Limited | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 5 days to 7 months and 27 days (ii) 5 days to 8 months and 3 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | The Company is engaged in the business of providing platform for e-commerce product discovery and recommendation, providing search, navigation, merchandising and analytics capabilities to e-commerce companies. | (i) 17,47,78,34,518 (ii) 28,36,50,09,089 | 179,570 | |
| 1.546 | M/s Netgear Research India Private Limited | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 3 years 11 months and 7teen days to 3 years 11 months and 19 days. | The contravention sought to be compounded is delay in submission of Form FCGPR to the Reserve Bank, after issue of shares to a person resident outside India | The company is engaged in the business of researching for networking, storage and digital media products and providing services for back office operations. | 30,000,000 | 410,000 | |
| 1.547 | M/s. Xenon Automotive India Pvt Ltd. | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 14 days to 1 years 8 months 23 days (ii) 13 days to 1 years 7 months 28 days (iii) 3 days . | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India (iii) allotment of shares prior to receipt of consideration | The applicant company is engaged in business of maintenance and repair of motor vehicles. | (i) 270,34,17,20,200 (ii) 337,50,70,000 (iii) 500,18,000 | 234,086 | |
| 1.548 | M/s. Sangsin Brake India Pvt Ltd. | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 4 days to 1 months (ii) 4 months 18 days . | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | The applicant company is engaged in business of manufacture of diverse parts and accessories for motor vehecles sucs as brakes, gearboxes, axles, road wheels, suspension shock absorbers, radiators, silencers, exhaust pipes, catalysers, clutches, steering wheels, steering columns and steering boxes etc. | (i) 17,65,57,22,030 (ii) 19,92,00,00,000 | 78,240 | |
| 1.549 | M/s. Medmeme Informatics Pvt Ltd. | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 10 months 19 days . | The contravention sought to be compounded is delay in submission of Form FCGPR on allotment of shares with Reserve Bank | The applicant company was incorporated on October 21, 2011 under the provisions of the Companies Act, 1956 and is engaged in business of other data processing, hosting and related activities n.e.c. | 11,431,000 | 56,000 | |
| 1.550 | M/s. Sloan Management Advisory Services (India) Pvt Ltd. | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 5 years 10 months 23 days (ii) 3 years 4 months 5 days (iii) 2 years 19 days to 2 years 3 months 18 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India (iii) delay in allotment of shares | The applicant company was incorporated on July 1, 2008 under the provisions of the Companies Act, 2013 and is engaged in business of management consultancy. | (i) 24,92,66,050 (ii) 58,56,92,000 (iii) 58,56,92,000 | 125,525 | |
| 1.551 | M/s. Infantron Magnetics India Pvt Ltd. | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3 days to 6 years 8 months 6 days (ii) 3 months 27 days to 7 years 5 months 27 days (iii) 1 months 10 days to 11 months (iv) 8 years 7 months 2 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India (iii) delay in allotment of shares (iv) allotment of shares prior to receipt of full consideration | The applicant company was incorporated on May 25, 2008 under the provisions of the Companies Act, 1956 ) and is engaged in business of electrical machinery, equipment and supplies, n.e.c. | (i) 63,19,71,000 (ii) 64,29,01,000 (iii) 19,53,26,000 (iv) 108,00,000 | 182,100 | |
| 1.552 | M/s. Noodle Foods (India) Pvt Ltd. | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 months 7 days (ii) 2 years 2 months . | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | The applicant company was incorporated on March 24, 2000 under the provisions of the Companies Act, 1956 and is engaged in business of restaurants without bars. | (i) 945,60,000 (ii) 36,58,460,000 | 193,005 | |
| 1.553 | M/s. Nimble Wireless Pvt Ltd. | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 22 days to 6 years 3 months 15 days (ii) 7 days to 6 years 2 months 20 days (iii) 5 months 13 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India (iii) delay in allotment of shares | The applicant company was incorporated on February 13, 2007 under the provisions of the Companies Act, 1956 and is engaged in business of manufacture of desktop computers, laptop computers, hand-held computers (e.g. PDA), mainframe computers and computer servers. | (i) 4693,58,342 (ii) 109,95,72,140 (iii) 11,00,00,000 | 114,865 | |
| 1.554 | M/s. Caresoft Global Pvt Ltd. | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 18 days (ii) 3 years 6 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | The applicant company was incorporated on September 18, 2006 under the provisions of the Companies Act, 1956 and is engaged in business of other information technology and computer service activities n.e.c. | (i) 162,58,40,000 (ii) 162,52,00,000 | 178,000 | |
| 1.555 | M/s. H&R Steel Detailing Pvt Ltd. | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 4 days to 2 months 16 days ; (ii) 14 years 3 months 12 days . | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | The applicant company was incorporated on December 23, 2002 under the provisions of the Companies Act, 1956 and is engaged in other business support service activities n.e.c. | (i) 16,55,01,000 (ii) 26,40,00,000 | 56,315 | |
| 1.556 | M/s.Gadana Properties LLP | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 years 1 months 26 days | The contravention sought to be compounded is delay in reporting the transfer of shares from nonresident to resident i.e., delay in submission of FCTRS | The applicant company was incorporated on June 28, 2010 under the provisions of the Limited Liability Partnership Act 2008 (Registration No. AAA-1688). M/s Karan Holding B.V. of The Netherlands, the Non Resident shareholder in M/s VGS Estates Pvt Ltd. has sold 29035 equity shares of ₹100/- each at a premium of ₹17.10 amounting to ₹33,99,998.50 to the applicant company on 28.03.2017. | 33,999,985 | 12,925 | |
| 1.557 | M/s. Sakthifinance Financial Services Ltd. | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 11 years 2 months 15 days ; (ii) 4 years 1 months 13 days (iii) 6 years 4 months . | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India (iii) delay in allotment of shares | The applicant company was incorporated on March 10, 1988 under the provisions of the Companies Act, 1956 and is engaged in business of Other financial service activities, except insurance and pension funding activities, n.e.c. | (i) 492,86,90,200 (ii) 492,86,90,000 (iii) 492,86,90,000 | 1,290,565 | |
| 1.558 | M/s. India Property Online Pvt Ltd. | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 29 days (ii) 24 days to 1 years 8 months 23 days (iii) 2 months 20 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India (iii) delay in allotment of shares | The applicant company was incorporated on March 29, 2012 under the provisions of the Companies Act, 1956 and is engaged in business of Web hosting activities. | (i) 234,50,34,1180 (ii) 87,60,29,15,825 (iii) 604,24,507 | 346,813 | |
| 1.559 | Shapoorji Pallonji Oil and Gas Private Limited | Jan/2019 | ODI | FEMA 120/RB-2004 | Delay in reporting | 6 months | (i) Delayed reporting of Overseas Direct Investment (ODI) (ii) Method of Funding of ODI through the existing Joint Venture (JV) of the applicant in Singapore. | The applicant company is engaged in the business of providing support services for petroleum and natural gas mining activities. The applicant has set-up a JV, Karapan Armada Madura Pte Ltd in Singapore with 51% of stake with a Foreign Party, Bumi Armada offshore holdings limited which is holding 49 % of stake in the JV. The overseas JV was incorporated on October 02, 2017. The Pre incorporation charges amounting to SGD 10201(INR 4,90,406) for setting up of this JV was paid by the applicant’s existing JV in Singapore, S. P. Engineering Pte. Ltd. These pre incorporation charges were later capitalized and share certificates were issued in the name of applicant company. This method of funding of ODI is not in compliance with Regulation 6(3) | 490,406 | 63,452 | |
| 1.560 | Zee Entertainment Enterprises Limited | Jan/2019 | ODI | FEMA 120/RB-2004 | Regulation 6(5) of Notification No.FEMA.19/2000-RB dated May 03, 2000 as then applicable, permitted an Indian Party to extend loan or guarantee to or on behalf of Joint Venture (JV) or WOS abroad, only in case of prior equity contribution by the Indian Party in such entities. Further, in terms of Regulation 15 (iii) of Notification No.FEMA.120/2004-RB dated July 07, 2004 as amended from time to time, “An Indian Party which has acquired foreign security in terms of the Regulation in Part I shall submit to the Reserve Bank, through the designated Authorized Dealer, every year on or before a specified date, an Annual performance Report (APR) in Part III of Form ODI in respect of each JV or WOS outside India…..”. | 12 and a half years . | (i) extending a loan to a step down subsidiary (SDS) abroad without having equity participation in it (ii) nonsubmission of Annual Performance Reports (APRs) within the stipulated time period. | The applicant company is engaged in the business of film manufacturing, telecommunication, broadcasting etc. The applicant company acquired shares of Zee Multimedia Worldwide Limited in British Virgin Islands (BVI) by way of swap of shares on September 23, 1999, which then became its WOS. Zee Multimedia Worldwide Limited, BVI's subsidiary - Zee Multimedia Worldwide (Mauritius) Limited (established as Asia Telecom Investment Company Limited) in Mauritius, incorporated on November 10, 1995 thus became a first level SDS of the applicant company. Further, Zee Multimedia Worldwide (Mauritius) Limited's subsidiary - Asia TV Limited (UK), incorporated on May 19, 1992, thus became a second level SDS of the applicant company. On May 20, 2004, the applicant company provided a foreign currency loan (out of FCCB proceeds lying abroad) of USD 13 million (INR 58,50,00,000) to Asia TV Limited (UK), its second level SDS. This loan provided by the applicant company without having any equity participation in the second level SDS, was in contravention of Regulation 6(5) of Notification No. FEMA 19/2000-RB (as then applicable). | 585,000,000 | 4,487,500 | |
| 1.561 | Zensar Technologies Limited | Jan/2019 | ODI | FEMA 120/RB-2004 | The applicant company has contravened the provisions of Regulation 15(ii), Regulation 16(3) read with 16(1A)(ii) further read with 16(1)(iv) and Regulation 16(3) read with 16(1A)(ii) further read with 16(1)(vi) of Notification No.FEMA.120/2004-RB. | (i) 4 years 8 months (ii) 3 years 8 months (iii) 3 years 8 months | The applicant company has sought to be compounded for nonrepatriation of dues receivables from the foreign entity to India within the prescribed period and disinvestment of stakes in WOS, without prior RBI approval, with (i) outstanding dues and (ii) ongoing DoE investigation | The applicant company is engaged in the business of computers and software. The applicant company disinvested the WOS involving write off without obtaining prior approval from RBI when the receivables were due from WOS. This is in contravention of Regulation 16(3) read with 16(1A)(ii) further read with 16(1)(iv) of Notification No. FEMA 120/2004-RB. Non-repatriation of dues receivable from the foreign entity to India within 60 days of its falling due is in contravention of Regulation 15(ii) of Notification No. FEMA 120/2004-RB Further, the applicant company had also contravened Regulation 16(3) read with 16(1A)(ii) further read with 16(1)(vi) of Notification ibid, by not taking prior RBI approval before disinvestment when the applicant company was under DoE investigation. | (i) 155,504,959 (ii) 155,504,959 (iii) 185,81,800 | 2,370,099 | |
| 1.562 | U Square Lifescience Pvt Ltd | Jan/2019 | ODI | FEMA 120/RB-2004 | Delay in reporting | (i) 1 years (ii) 57 months (iii) 1 years to 4 years (iv) 2013, 2014, 2015 and 2016 | (i) Delay in submission of Form ODI Part I(effecting remittances without obtaining UIN) (ii) Delay in submission of Annual Performance Reports (APRs) within the stipulated time period (iii) Delay in receipt of share certificates (iv) Undertaking ODI without the submission of APR. | The applicant company is engaged in sales and distribution of Pharmaceutical products. | (i) 378,275 (ii) 56,000 (iii) 434,275 | 165,191 | |
| 1.563 | M/s. AVT Gavia Foods Pvt Ltd. | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 4 months 13 days . | The contravention sought to be compounded is delay in reporting of inflow of funds received from a person resident outside India for allotment | The applicant company was incorporated on January 02, 2008 under the provisions of the Companies Act, 1956 and is engaged in business of other semi-processed, processed or instant foods n.e.c. except farinaceous products and malted foods and manufacturing activities like manufacture of egg powder, sambar powder etc. (this excludes the activities covered under 10619). | 10,000,000 | 46,500 | |
| 1.564 | M/s CBSI India Private Limited | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 2 years 10 months and 13 days. | The contravention sought to be compounded is delay in submission of Form FCGPR to the Reserve Bank, after issue of shares to a person resident outside India | The company is engaged in the business of providing manpower placement and recruiting, development of software applications, information technology related solutions and services and providing outsourcing services for processes enabled by IT. | 5,078,640 | 30,440 | |
| 1.565 | M/s VBHC Value Homes Private Limited | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 days to 3 years 8 months and 21 days (ii) 7 days to 8 months and 24 days (iii) 2 days to 1 months and 12 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) allotment of shares prior to receipt of share application money and allotment of shares beyond 180 days from the date of receipt of inward remittance (iii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | The activity undertaken by the company is to carry on the business as administrators, advisors, consultants, research analysts, market informants, in the field of investing in real estate projects in India and overseas. | (i) 90,16,04,60,700 (ii) 23,03,37,500 (iii) 31,24,65,92,000 | 185,443 | |
| 1.566 | M/s. PACT for Rural Livelihoods Private Limited | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 5 months and 18 days to 1 years 2 months and 21 days | (i) delay in submission of Form FCGPR to the Reserve Bank after issue of shares (ii) violation of pricing guidelines for issue of shares | The applicant was incorporated on August 23, 2013 and deals in Agriculture and food processing activities. | 204,92,451 | 138,974 | |
| 1.567 | Beacon Analytics Private Limited | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 5 months and 14 days. (ii) 4 months and 15 days and 7 months and 15 days. | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in refund of amount of consideration beyond 180 days and 75 days from the date of receipt of remittance | The company was incorporated on May 8, 2008 and is engaged in the business of Management Consultancy Services. | (i) 13,80,000 (ii) 16,17,500 | 120,548 | |
| 1.568 | Sameer Maheshwari | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 months and 21 days. | The contravention sought to be compounded is of delay in reporting of transfer of shares from Resident to NonResident in Form FCTRS | The applicant, a resident individual, had transferred 3276 equity shares of M/s 1MG Technologies Private Limited, held by him, to M/s 1 MG Khosla Ventures, a non-resident company on July 13, 2016 for a consideration amount of ₹5,00,04,864/- (Rupees Five Crore Four Thousand Eight Hundred Sixty Four only) received on July 30, 2016. The applicant reported the said transfer of shares in Form FC-TRS on November 18, 2016. There was, thus, a delay of 1 month and 21 days in reporting the transfer of shares beyond the prescribed time period of 60 days from the date of receipt of the amount of consideration. | 50,004,864 | 18,500 | |
| 1.569 | Shankar Nath | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 7 and 8 days repectively. | The contravention sought to be compounded is of delay in reporting of transfer of shares from Resident to NonResident in Form FCTRS | paragraph 10 of Schedule 1 to FEMA 20/2000-RB dated May 3, 2000, in case of transfer of shares of an Indian company by way of sale from a person resident in India to a person resident outside India or vice versa, the transferor/ transferee, resident in India, shall submit to the AD bank a report in the Form FC-TRS, as specified by the Reserve Bank from time to time, within 60 days from the date of receipt or payment of the amount of consideration. The onus of submission of the Form FC-TRS within the specified time shall be on the transferor/ transferee, resident in India. | 1,704,493,182 | 18,000 | |
| 1.570 | Renu Satti | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 7 days | The contravention sought to be compounded is of delay in reporting of transfer of shares from Resident to NonResident in Form FCTRS | The applicant, a resident individual, had transferred 6000 equity shares of M/s One97 Communications Limited held by her to Neeraj Arora Revocable Trust, USA on February 5, 2016 for a consideration amount of ₹2,05,81,161.60 (Rupees Two Crore Five Lakh Eighty One Thousand One Hundred Sixty One and Paise Sixty only) received on February 5, 2016. The applicant reported the said transfer of shares in Form FC-TRS on April 12, 2016. There was, thus, a delay of 7 days in reporting the transfer of shares beyond the prescribed time period of 60 days from the date of receipt of the amount of consideration. | 205,811,616 | 14,000 | |
| 1.571 | Kiran Kalyan Vasireddy | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 7 days | The contravention sought to be compounded is of delay in reporting of transfer of shares from Resident to NonResident in Form FCTRS | The applicant, a resident individual, had transferred 10,000 equity shares of M/s One97 Communications Limited, held by him, to Neeraj Arora Revocable Trust, USA on February 5, 2016 for the consideration amount of ₹3,43,01,936 (Rupees Three Crore Forty Three Lakh One Thousand Nine Hundred Thirty Six only) received on February 5, 2016. The applicant reported the transfer of said shares in Form FC-TRS on April 12, 2016. There was, thus, a delay of 7 days in reporting the said transfer of shares beyond the prescribed time period of 60 days from the date of receipt of the amount of consideration. | 34,301,936 | 14,000 | |
| 1.572 | K. Shanmugam | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3 months . (ii) 2 days to 4 months . (iii) 5 years . | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in reporting allotment of shares after receipt of funds (iii) contravention of pricing guidelines under the prevailing Foreign Direct Investment (FDI) policy for issue of CCPS. | SAFL is engaged in the business of operating FM Radio Stations. | (i) 192,28,53,995 (ii) 82,93,58,030 (iii) 280,00,000 | 36,300 | |
| 1.573 | Loyalhut Solutions Private Limited | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 271 days. (ii) 760 to 841 days. | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in refund of amount of consideration beyond 180 days and 75 days from the date of receipt of remittance | The applicant is acting as a contractor, sub-contractor, quasi-contractor for Government or semi-Government bodies. | (i) 26,59,000 (ii) 42,76,600 | 32,542 | |
| 1.574 | M/s Alertlabs India Pvt. Ltd. | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 307 days. | The contravention sought to be compounded pertain to delay in submission of FCGPR to the Reserve Bank after issue of shares | The applicant is engaged in the business of Computer consultancy and computer facilities management. | 100,000 | 1,091,700 | |
| 1.575 | YAPAPP INDIA PRIVATE LIMITED | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 21 to 37 days (ii) 198 to 670 days (iii) 540 days. | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity shares, (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India (iii) delay in refund of excess share application money to the foreign investor | The applicant is engaged in the business of providing software support and maintenance to the clients. | (i) 16,47,75,512 (ii) 59,28,06,000 (iii) 8,68,574 | 30,037 | |
| 1.576 | Researchwire Knowledge Solutions Private Limited | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1025 days. | The contravention sought to be compounded pertain to delay in submission of FCGPR to the Reserve Bank after issue of shares | The applicant is engaged in the business of Information services activities. | 5,500,000 | 30,417 | |
| 1.577 | M/s Sanctum Wealth Management Private Limited | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y 0M 25D to 0Y 3M 3D . (ii) 0Y 0M 2D to 0Y 4M 7D | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | Its main activities are: Securityandcommoditycontractsbrokerage,Alsotoact as financial and investment consultants. | (i) 144,98,798 (ii) 632,54,117 | 59,458 | |
| 1.578 | M/s Purita Water Solution Private Limited | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y 1M 23D to 0Y 4M 9D (ii) 0Y 0M 28D to 4Y 0M 22D | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | Its main activities are: Toprovideservicesfordesign,install,erect,commission,maintenance,consultancy,advisory,research,analysis,investigation,improvement,report,repair,operation,engineeringforwatertreatmentplant,waterdisinfectingsystem,anyindustrialprocessplants&systems,effluentrecycling&polishingsystem,tocarryonthebusinessasmanufacturers,agents,traders,distributors,importers,exporters,suppliersofaboveplants,variouschemicals,spareparts,consumablenecessaryfortheaboveplants&systemsinIndiaandabroadandtocarryoutbusinessofallotherrelatedproducts & services for the above said plants. | (i) 108,31,934 (ii) 164,92,794 | 58,125 | |
| 1.579 | M/s Eden Innovations India Private Limited | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y 0M 4D to 0Y 6M 24D (ii) 0Y 0M 5D to 1Y 3M 27D (iii) 0Y 3M 10D to 1Y 8M 2D | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (iii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days or 60 days (as applicable) from the receipt of the inward remittance | Its main activities are: DealinginplantsforthegenerationandpurificationofHydrogen.HydrogenblendedproductsandotheralternateenergyproductsincludingBio-fuels.Geothermal Energy and Mineral Exploration. | (i) 475,49,234 (ii) 156,00,000 (iii) 70,00,000 | 177,375 | |
| 1.580 | M/s Bandhan Bank Ltd. | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 months. | The contraventions sought to be compounded are for delay in reporting of issue of shares beyond the stipulated 30 days of the allotment of share to a person resident outside India | The applicant was incorporated under the Companies Act, 2013 and is in the business of monetary intermediation of commercial banks, saving banks, postal savings bank and discount houses. | 4,666,039,892 | 43,334 | |
| 1.581 | M/s Jinaehat Exports Private Limited | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 10 months (ii) 4 months | The contraventions sought to be compounded is for delay in submission to the Reserve Bank of both Form ARF after receipt of inflow from a person resident outside India and Form FCGPR after issue of shares to a person resident outside India beyond the stipulated 30 days | The applicant is in the business of manufacturing of Gold Jewellery. | (i) 105,40,886 (ii) 105,40,500 | 78,334 | |
| 1.582 | M/s Sibre Brakes(India) Private Limited | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 10 months. (ii) 4 months | The contraventions sought to be compounded is for delay in submission to the Reserve Bank of both Form ARF after receipt of inflow from a person resident outside India and Form FCGPR after issue of shares to a person resident outside India beyond the stipulated 30 days | The applicant is in the business of wholesale trading of metals and metal ores. | (i) 51,00,000 (ii) 84,56,820 | 128,750 | |
| 1.583 | M/s DPBS (India) Marketing Services Private Limited | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 6 months. (ii) 5 months. | The contraventions sought to be compounded is for delay in submission to the Reserve Bank of both Form ARF after receipt of inflow from a person resident outside India and Form FCGPR after issue of shares to a person resident outside India beyond the stipulated 30 days | The applicant is in the business of retail sale via e-commerce. | (i) 25,00,000 (ii) 25,00,000 | 22,292 | |
| 1.584 | M/s Fiamoli Management & Business Consulting Pvt. Ltd. | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 7teen months to 28 months. (ii) 6 months (iii) 7teen months | The contraventions sought to be compounded is for delay in issue of instrument beyond the stipulated period of 180 days after receipt of inflow and also delay in submission to the Reserve Bank of both Form ARF after receipt of inflow from a person resident outside India and Form FCGPR after issue of shares to a person resident outside India beyond the stipulated 30 days | The applicant is in the business of wholesale of metals and metal ores. | (i) 114,38,653 (ii) 114,315 (iii) 114,38,653 | 72,098 | |
| 1.585 | M/s Jyotirmoyee International Private Limited | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 12 months | The contravention sought to be compounded is for delay in transfer of shares from a person resident in India to a person resident outside India beyond the stipulated 60 days | The applicant is in the business of support activities for mining and quarrying. | 13,725,000 | 60,000 | |
| 1.586 | M/s. Tazzo Technologies Private Limited | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 8 days to 9 days (ii) 3 days to 9 days | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPR to Reserve Bank of India | The company is engaged in the business of Renting and leasing of motor vehicles. | (i) 45000000 (ii) 45000205 | 36,000 | |
| 1.587 | M/s Learnograph E-Learning India Pvt Ltd | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 10 months 18 days (ii) 5 months 15 days | (i) delay in submission of Form FCGPR to Reserve Bank of India (ii) delay in receipt of funds after the allotment of shares | The activity of the company is Other Educational Services n.e.c. | (i) 99990 (ii) 101792 | 34,716 | |
| 1.588 | M/s. Lex Nimble Solutions Limited | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | days to 9 months 14 days | The contravention sought to be compounded is, delay in submission of Form FCGPR to Reserve Bank of India after issue of shares towards subscription to equity to a person resident outside India | The company is engaged in the business of computer consultancy and computer facilities management activities. | 305,638,222 | 52,060 | |
| 1.589 | M/s JSD Medical Business Management Services Pvt Ltd | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 5 months 18 days to 8 months | The contravention sought to be compounded is, delay in submission of Form FCGPR to Reserve Bank of India after issue of shares towards subscription to equity to a person resident outside India | The activity of the company is provision of computer programming, consultancy and related activities. | 998,000 | 11,170 | |
| 1.590 | M/s. Ravulapati Techub Pvt Ltd | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 9 months 12 days (ii) 5 months 8 days | (i) delay in reporting of receipt of foreign inward remittance (ii) delay in refund of excess share application money to a person resident outside India | The company is engaged in the business of “providing all kinds of IT enabled computer programming and consultancy services in any field of business”. | (i) 2985765 (ii) 2985765 | 70,511 | |
| 1.591 | M/s. Narangah Renewable Energy Pvt Ltd | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 years 9 months 22 days (ii) 9 months 19 days | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPR to Reserve Bank of India | The company is engaged in the business of Electricity, gas, steam and air conditioning supply. | (i) 100000 (ii) 100000 | 22,660 | |
| 1.592 | M/s. Greatfour Systems Private Limited | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 years 2 months 29 days . (ii) 1 years 17 days . (iii) 5 months 27 days to 1 years 5 months 27 days . | (i) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India (ii) delay in receipt of consideration after allotment of shares to a person resident outside India (iii) delay in filing the annual return in respect of the Foreign Liabilities and Assets | The company is engaged in the business of “Computer consultancy and computer facilities management activities”. | (i) 99900 (ii) 99900 | 36,737 | |
| 1.593 | M/s Bomotix Private Limited | Jan/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 15 days to 5 months 1 days (ii) 3 months 5 days to 9 months 21 days | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPR to Reserve Bank of India | The company is engaged in the business of research and development on software which analyse the human body motion. | (i) ` 618510 (ii) 714310 | 23,490 | |
| 1.594 | Jan Edvard Thygesen | Feb/2019 | FDI | FEMA 20/2000-RB | In terms of regulation 7(1)( c) of FEMA 20 ‘Where a Scheme of merger or amalgamation of two or more Indian companies or a reconstruction by way of de-merger or otherwise of an Indian company, has been approved by a Court in India, the transferee company or, as the case may be, the new company may issue shares to the shareholders of the transferor company resident outside India, subject to the condition that …. the transferee or the new company files a report within 30 days with the Reserve Bank giving full details of the shares held by persons resident outside India in the transferor and the transferee or the new company, before and after the merger / amalgamation / reconstruction’ | 3 years 8 months | The applicant was the Director of Unitech Wireless (Tamilnadu) Private Limited when the company contravened the provisions contained in Regulation 7(1)(c) read with Paragraph 9(1)(B) of Schedule 1 of Foreign Exchange Management (Transfer or Issue of Security By a Person Resident Outside India) Regulations, 2000 notified vide Notification No. FEMA 20/2000RB dated May 3, 2000 as amended from time to time (hereinafter referred to as Notification No. FEMA 20/2000RB), further read with Section 6(3)(b) of FEMA, 1999, related to delay in reporting of the allotment of shares by the company, beyond the stipulated time period. | The applicant was the Director of Unitech Wireless (Tamilnadu) Private Limited when the company contravened the provisions contained in Regulation 7(1)(c) read with Paragraph 9(1)(B) of Schedule 1 of Foreign Exchange Management, further read with Section 6(3)(b) of FEMA, 1999, related to delay in reporting of the allotment of shares by the company, beyond the stipulated time period. The company is engaged in the business of wireless telecommunications services.The company was granted permission by GOI vide letter dated November 13, 2009 for foreign investment to the extent of 74% by Telenor Asia Pte Ltd.(TAPL), Singapore, a wholly-owned subsidiary of Telenor ASA, Norway. During the year 2009-10, the company received foreign investment from TAPL amounting to Rs.541.82 crore in terms of the GOI approval and allotted the shares to the foreign investor. Pursuant to a scheme of amalgamation sanctioned by an order of Hon’ble Delhi High Court dated September 27, 2010 the following eight (nos.) companies were amalgamated. | 667,838,280 | 37,667 | |
| 1.595 | Yogesh Sanjeev Malik | Feb/2019 | FDI | FEMA 20/2000-RB | In terms of regulation 7(1)( c) of FEMA 20 ‘Where a Scheme of merger or amalgamation of two or more Indian companies or a reconstruction by way of de-merger or otherwise of an Indian company, has been approved by a Court in India, the transferee company or, as the case may be, the new company may issue shares to the shareholders of the transferor company resident outside India, subject to the condition that …. the transferee or the new company files a report within 30 days with the Reserve Bank giving full details of the shares held by persons resident outside India in the transferor and the transferee or the new company, before and after the merger / amalgamation / reconstruction’ | 3 years 8 months | The applicant was the Director of Unitech Wireless (Tamilnadu) Private Limited when the company contravened the provisions contained in Regulation 7(1)(c) read with Paragraph 9(1)(B) of Schedule 1 of Foreign Exchange Management (Transfer or Issue of Security By a Person Resident Outside India) Regulations, 2000 notified vide Notification No. FEMA 20/2000RB dated May 3, 2000 as amended from time to time (hereinafter referred to as Notification No. FEMA 20/2000RB), further read with Section 6(3)(b) of FEMA, 1999, related to delay in reporting of the allotment of shares by the company, beyond the stipulated time period. | The applicant was the Director of Unitech Wireless (Tamilnadu) Private Limited when the company contravened the provisions contained in Regulation 7(1)(c) read with Paragraph 9(1)(B) of Schedule 1 of Foreign Exchange Management, further read with Section 6(3)(b) of FEMA, 1999, related to delay in reporting of the allotment of shares by the company, beyond the stipulated time period. The company is engaged in the business of wireless telecommunications services.The company was granted permission by GOI vide letter dated November 13, 2009 for foreign investment to the extent of 74% by Telenor Asia Pte Ltd.(TAPL), Singapore, a wholly-owned subsidiary of Telenor ASA, Norway. During the year 2009-10, the company received foreign investment from TAPL amounting to Rs.541.82 crore in terms of the GOI approval and allotted the shares to the foreign investor. Pursuant to a scheme of amalgamation sanctioned by an order of Hon’ble Delhi High Court dated September 27, 2010 the following eight (nos.) companies were amalgamated. | 667,838,280 | 37,667 | |
| 1.596 | M/s Vega India Level and Pressure Measurement Private Limited | Feb/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y 0M 4D to 0Y 4M 26D (ii) 0Y 1M 17D to 0Y 3M 8D | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | Its main activities are: Manufacturing and Wholesale trading of pressure level testing equipments and apparatus | (i) 308000724 (ii) 85502000 | 63,167 | |
| 1.597 | M/s Shardashree Ispat Limited | Feb/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 3Y 2M 4D to 3Y 2M 6D | delay in reporting receipt of foreign inward remittance towards subscription to equity | Its main activities are: Manufacture of hot-rolled and cold-rolled products of steel | 10,002,291 | 36,000 | |
| 1.598 | M/s Rajshree Polypack Limited | Feb/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1Y 2M 5D . | delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | Its main activities are: Manufacture of stationary articles such as pens and pencils of all kinds whether or not mechanical, pencilleads, date, sealing or numbering stamps,hand-operated devices for printing or embossing labels, handprinting sets, prepared typewriter ribbons and ink edpads, globes etc. | 1,484,056 | 72,500 | |
| 1.599 | M/s Magpie Life Management Services India Private Limited | Feb/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y0M7D to 0Y 6M 13D (ii) 0Y0M9D to 0Y10M 18D | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | Its main activities are: Other information technology and computer service activities. | (i) 32097750 (ii) 34911170 | 48,125 | |
| 1.600 | M/s Baroda Asset Management India Limited | Feb/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2Y 9M 1D . (ii) 0Y0M7D to 0Y0M23D . | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | Management of mutual funds | (i) 490666970 (ii) 525856970 | 315,833 | |
| 1.601 | M/s Ever Electronics Private Limited | Feb/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y0M11D to 5Y7M23D (ii) 0Y1M4D to 5Y6M 24D | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | Manufacture of bare printed circuit boards, loading of components on to printed circuit boards; manufacture of interface cards (e.g.sound,video,controllers,network,modems) | (i) 65288170 (ii) 67271340 | 268,292 | |
| 1.602 | M/s e-Emphasys Infotech Private Limited | Feb/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 16Y 8M 15D to 16Y 8M 23D (ii) 16Y 2M 7D (iii) in filing of Annual Return on Foreign Liabilitie and Aet for the Financial years2007-08,2008-09,2009-10,2010-11,2011-12,2012-13,2013-14,2014-15,2015-16,2016-17and2017-18 . | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India (iii) delay in filing ‘Annual Return on Foreign Liabilities and Assets’ (FLA Returns) and/or Regulation | Computer consultancy and computer facilities management activities | (i) 13885000 (ii) 13885000 | 674,500 | |
| 1.603 | M/s Karanja Terminal & Logistics Private Limited | Feb/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y 2M 19D (ii) 0Y0M19D to 0Y2M24D . | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | Cargo handling incidental to water transport | (i) 354320000 (ii) 590350356 | 107,500 | |
| 1.604 | Shri. Adil Daruwala | Feb/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 4 years 10 months 27 days, . | The contravention sought to be compounded is for delay in submission of form FCTRS on transfer of shares from Resident to NonResident | Mr. Adil Daruwala, Indian Resident transferred 1200 equity shares of M/s Manjri Stud Farm Private Limited, held by him to M/s Strand Developers Mauritius Limited along with its nominees (Non Resident), on April 12, 2013 and filed form FC-TRS on May 11, 2018. Whereas in terms of Regulation 10A (b) (i) read with Para 10 of Schedule 1 to FEMA 20/2000- RB, In case of transfer of shares or convertible debentures of an Indian company by way of sale from a person resident in India to a person resident outside India or warrants or vice versa, the transferor/transferee, resident in India, shall submit to the AD bank a report in the form FC-TRS specified by Reserve Bank from time to time , within 60 days from the date of receipt or payment of the amount of consideration and the onus of submission of the form FC-TRS within the specified time shall be on the transferor / transferee, resident in India. | 1,548 | 14,917 | |
| 1.605 | M/s Aasaanjobs Private Limited. | Feb/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 0Y6M27D to 1Y 1M 29D | delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | Activities of employment placement agencies | 142,020,878 | 156,417 | |
| 1.606 | M/s Cook Consulting and Communication Services (India) Private Limited | Feb/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y 0M 24D to 2Y 10M 26D (ii) 0Y 0M 11D to 3Y 1M 24D (iii) 0Y9M22D to 2Y10M18D . (iv) Financialyears2014-15,2015-16, 2016-17 and 2017-18 | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India (iii) neither the equity instruments were issued, nor the money refunded to the foreign investor, a person resident outside India within 180 days of the receipt of the inward remittance (iv) delay in filing ‘Annual Return on Foreign Liabilities and Assets’ (FLA Returns) and/or Regulation | Publishing of books, brochures, leaflets and similar publications, including publishing encyclopedias (including on CD-ROM) | (i) 29150000 (ii) 24000000 (iii) 22300000 | 236,225 | |
| 1.607 | M/s. Fatsun Technology Pvt Ltd. | Feb/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 months 18 days (ii) 8 years 11 months 25 days to 9 years 9 months 2 days . | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | The applicant company was incorporated on December 20, 2006 under the provisions of the Companies Act, 1956 and is engaged in business of manufacture of other electronic components n.e.c. | (i) 221020404 (ii) 821020000 | 108,200 | |
| 1.608 | M/s. Conwood Agencies Pvt Ltd | Feb/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 12 years 1 months 3 days . (ii) 8 years 9 months 21 days . | (i) contravention of Regulation 5 of Notification No.FEMA 20/2000RB dated May 03, 2000 (ii) delay in reporting the transfer of shares from resident to nonresident i.e., delay in submission of FCTRS | The applicant company was incorporated on August 28, 1975 under the provisions of the Companies Act 1956 . Being the Resident shareholder in M/s ETA Engineering Pvt Ltd., the company has sold 500000 equity shares at a negotiated price of ₹10/- each amounting to ₹50,00,000.00 against the Fair value of ₹15.88/- to Mr. S M Salahuddin, a non-resident Indian on 15.11.2006. | (i) 294000000 (ii) 500000000 | 143,860 | |
| 1.609 | Shri Krishnan Naganathan | Feb/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 2 years 1 months to 3 years 8 months 28 days | The contravention sought to be compounded is delay in reporting the transfer of shares from resident to nonresident i.e., delay in submission of FCTRS | The applicant sold 69000 and 172500 equity shares of ₹10/- each at a negotiated price of ₹10/- and ₹3/- respectively to the Non-Resident shareholder M/s. Valcon Business Development A/S, Denmark. | 1,207,500 | 15,830 | |
| 1.610 | M/s. Contracting Plus Solutions Pvt Ltd | Feb/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 months (ii) 4 months 27 days to 6 months 1 days (iii) 6 years 1 months 3 days . | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India (iii) taking on record the transfer of shares in the books of the company without certified FCTRS | The applicant company was incorporated on July 23, 2008 under the provisions of the Companies Act, 1956 and is engaged in Business of other business support service activities n.e.c. | (i) 368480000 (ii) 746260000 (iii) 24000000 | 39,095 | |
| 1.611 | M/s. Nipro Medical India Pvt Ltd | Feb/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 6 days to 11 years 10 months 11 days (ii) 2 months 28 days to 11 years 11 months 3 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | The applicant company was incorporated on November 23, 2006 under the provisions of the Companies Act, 1956 and is engaged in business of wholesale of scientific, medical and surgical machinery and equipment. | (i) 90183300000 (ii) 120183200000 | 1,694,920 | |
| 1.612 | M/s Daejung Moparts Private Limited | Feb/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 7 years 10 days. | The contravention sought to be compounded is delay in submission of Form FCGPR on allotment of shares to Reserve Bank | The applicant company was incorporated on August 19, 2002 under the provisions of the Companies Act, 1956 and is engaged in manufacture of other rubber products n.e.c. | 25,512,890 | 364,000 | |
| 1.613 | M/s Bundl Technologies Private Limited | Feb/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 8 months and 29 days. | The contravention sought to be compounded is delay in refund of excess share application money to the foreign investors, persons resident outside India, beyond 180 days from the date of receipt of the inward remittances | The company is engaged in the business of operating online market place e-commerce, enabling transaction between merchants and buyers dealing in food and other products, and enabling delivery of the same in India. | 7,250 | 54,000 | |
| 1.614 | M/s Workplace Options India Private Limited | Feb/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 6 months and 24 days to 1 years and 8 days. | The contravention sought to be compounded is allotment of shares to persons resident outside India, prior to receipt of inward remittances | The activity undertaken by the company is to act as service provider to create and enhance web based applications to bring new solutions to human resource departments of clients and work with global consultants, sector associations as well as experts from national and international agencies associated with research and development, training, skill development, course accreditation or other required specializations in various sectors. | 100,000 | 30,301 | |
| 1.615 | M/s Cannula Plus India Private Limited | Feb/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 8 years 9 months and 8 days to 8 years 10 months and twenty days (ii) 8 years 11 months and 28 days to 9 years 1 months and 9 days (iii) 3 months and 6 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in refund of excess share application money beyond 180 days from the date of receipt of inward remittance (iii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | The activity undertaken by the company is to carry on the business of manufacture, import, export and deal in cannula and all types of surgical instruments, apparatus, equipments and materials. | (i) 34369117 (ii) 1869117 (iii) 32500000 | 55,111 | |
| 1.616 | M/s Nudgespot Technologies Private Limited | Feb/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 years and 1 months | The contravention sought to be compounded is delay in submission of Form FCGPR to the Reserve Bank, after issue of shares to a person resident outside India | The company is engaged in the business of providing software support and maintenance to its clients. | 4,817,270 | 17,560 | |
| 1.617 | Adani – Elbit Advanced Systems India Limited | Feb/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 34 to 402 days . | The contravention sought to be compounded is delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The company is engaged in the business of defence activity bearing NIC 2008 Code: 84220 | 7,344,380 | 18,360 | |
| 1.618 | M/s Biocon Biologics India Limited | Feb/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 years 1 months and twenty days | The contravention sought to be compounded is delay in submission of Form FCGPR to the Reserve Bank, after issue of shares to a person resident outside India | The company is engaged in the business of manufacturing of pharmaceuticals, medicinal, chemical and botanical products. | 499,400 | 11,170 | |
| 1.619 | M/s Antal Infotech Private Limited | Feb/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 months and twenty 3 days to 2 years 6 months and 6 days (ii) 2 years 1 months and 2 days to 2 years 8 months. | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | The Company is engaged in the business of providing technology based solutions and consultancy services to various industries on human resources, training, development and support services. | (i) 882798400 (ii) 882780000 | 63,225 | |
| 1.620 | M/s Clonect Solutions Private Limited | Feb/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 days to 1 months and 4 days. | The contravention sought to be compounded is delay in reporting receipt of foreign inward remittances towards subscription to equity | The Company is engaged in the business of writing, modifying and testing of computer programmes to meet the needs of clients. | 9,830,900 | 11,265 | |
| 1.621 | M/s Saboo Hesse Wood Coatings Private Limited | Feb/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 8 days to 2 months (ii) 22 days to 1 months and 8een days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | The activity undertaken by the company is manufacturing of paints, varnishes, and enamels or lacquers. | (i) 296222000 (ii) 100320000 | 20,960 | |
| 1.622 | M/s Hanwei (India) Machinery Manufacturing Private Limited | Feb/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 2 years 4 months and 7 days. | The contravention sought to be compounded is delay in submission of Form FCGPR to the Reserve Bank, after issue of shares to a person resident outside India | The company is engaged in the business of manufacturing specialized machines and precision die cuts in the health and hygiene sector. | 6,200,000 | 26,940 | |
| 1.623 | M/s Shopmatic Solutions Private Limited | Feb/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 years 11 months and 11 days (ii) 3 years 2 months and 12 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | The Company is engaged in the business of software development. | (i) 9999000 (ii) 9999000 | 30,750 | |
| 1.624 | M/s Soul Vision Creations Private Limited | Feb/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 3 months and 15 days. | The contravention sought to be compounded is delay in refund of excess share application money to the foreign investor, persons resident outside India, beyond 75 days from the date of receipt of the inward remittance | The company is engaged in the business of writing, modifying and testing of computer programs to meet the needs of its clients. | 1,396,526 | 50,700 | |
| 1.625 | T V Ranganathan | Feb/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 2163 days. | The contravention sought to be compounded is delay in reporting of transfer of shares from resident to nonresident beyond stipulated period of 60 days | The applicant has received two foreign inward remittances amounting to ₹40,00,155/- from non-resident investor Shri Deepak Raghavan, USA towards sale of equity shares of Educational Initiatives Pvt. Ltd., Ahmedabad. The applicant reported the transfer of shares from resident to non-resident to its Authorised Dealer bank with a delay of 2163 days from the date of receipt of consideration/transfer of shares thereby contravening Regulation 10 A (b) (i) read with paragraph 10 (1) of Schedule 1 to Notification No. FEMA 20/2000- RB dated May 3, 2000 as then applicable. | 4,000,155 | 52,000 | |
| 1.626 | Ashwinkumar Joshi | Feb/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 563 days. | The contravention sought to be compounded is delay in reporting of transfer of shares in Form FCTRS from resident to nonresident beyond stipulated period of 60 days | The applicant has received foreign inward remittance amounting to ₹48,900/- from non-resident investor Corax Cyber Security Holdings limited, UK towards sale of equity shares of Corax Cyber Security Private Limited, Ahmedabad. | 48,900 | 3,863 | |
| 1.627 | Ms.Vasumati Pande | Feb/2019 | ODI | FEMA 120/RB-2004 | The contraventions sought to be compounded relate to setting up of WOS prior to August 5, 2013 in contravention of Regulation 5(1) read with FEMA 2(k) of FEMA 120/RB-2004 dated July 7, 2004 as amended from time to time (hereinafter referred to as Notification No. FEMA 120/2004-RB). The applicant had remitted AED 12,850 on July 23, 2014 and AED 49,500 on May 14, 2015 and Form ODI Part I for these transactions was submitted to the designated AD bank on August 16, 2017, with a delay, which was not in line with Para D (2) of Schedule V read with Regulation 20A of Notification No. FEMA 120/2004-RB. Further, the applicant did not capitalize the remittance of AED 12,850 sent on May 15, 2015 and it was reversed (money was repatriated back) on July 2, 2018. The share certificate for remittance of AED 49,500 was issued by overseasentity on February 29, 2016, which was reported to the AD bank on August 11, 2017. Repatriation of the amount remitted/ submission of proof of investment beyond the period of six months, is in contravention of Regulation 15(i) of Notification No. FEMA 120/2004-RB. The applicant effected all three remittances through HDFC Bank while the designated AD bank for the overseas WOS was Andhra Bank, thus contravening Regulation 6(2)(v) of Notification No. FEMA 120/2004-RB. The applicant also reported APRs for the years 2013 to 2015 with delay resulting in contravention of Regulation 15(iii) of Notification No. FEMA 120/2004-RB. | (i) 5 years and 2 months (ii) 2 years and 3 months (iii) 1 years 6 months to 3 years and 2 months (iv) 5 years and 9 months (v) 9 months to 2 years 8 months | The contraventions sought to be compounded relate to setting up of WOS prior to August 5, 2013 in contravention of Regulation 5(1) read with FEMA 2(k) of FEMA 120/RB2004 | The applicant, a resident individual had sent USD 3270.35 as pre-operative expenses for setting up of overseas WOS viz., Om Exports FZC in UAE on February 28, 2013. These pre-operative expenses were not capitalised and were refunded by overseas WOS on April 20, 2018. Resident individuals were permitted to undertake ODI vide FEMA Notification No.263, w.e.f. August 5, 2013. As the applicant had remitted funds towards setting up of WOS prior to August 5, 2013, it resulted in contravention of Regulation 5(1) read with FEMA 2(k) of FEMA 120/RB-2004. | (i) 180000 (ii) 896445 (iii) 220120 and 896445 (iv) 1296565 (v) 1296565 | 233,574 | |
| 1.628 | BC Instruments India Private Limited | Feb/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 115 days. | The contravention sought to be compounded is delay in reporting of transfer of shares from nonresident to resident beyond stipulated period of 60 days | The company is engaged in high precision machining of components and assemblies for Aerospace, Medical Instruments, Engineering, Power Generation and other high tech sectors, bearing NIC Code: 27103. | 26,886,117 | 26,500 | |
| 1.629 | M/s Agritrade Power Venture Pvt. Ltd. | Feb/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 11 months twenty days and 10 months 2 days. | The contravention sought to be compounded is delay in reporting receipt of foreign inward remittances towards subscription to equity | The applicant was incorporated on December 19, 2016 and deals in carrying on the business of electric power generation by coal based thermal power plants. | 130,472,281 | 104,500 | |
| 1.630 | M/s. Milk Mantra Dairy Pvt. Ltd. | Feb/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 21 days. | The contravention sought to be compounded is delay in reporting receipt of foreign inward remittances towards subscription to equity | The applicant was incorporated on August 04, 2009 and deals in carrying on the business of dairy and dairy related products. | 16,890,431,832 | 27,000 | |
| 1.631 | M/s. Corner Store Technologies Pvt. Ltd. | Feb/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 months and 12days (ii) 6 months and 17days (iii) 1 yearsand 5 months to 1 years and 8 months | (i) delay in reporting of inflow of funds received from person resident outside India for allotment of shares (ii) delay in submission of form FCGPR on allotment of shares with Reserve Bank (iii) issue of security before the receipt of full amount of consideration | The applicant was incorporated on August 13, 2015 under the provisions of the Companies Act, 2013 and is engaged in the business of consumer products including Healthcare products and Medicines on wholesale basis. | (i) 39,66,46,085 (ii) 40,02,24,000 (iii) 35,77,915 | 29,564 | |
| 1.632 | M/s. Xotik Travel and Forex Pvt. Ltd. | Feb/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 10 days to 42 days. (ii) 20 days to 204 days. | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | The applicant company was incorporated on December 16, 2011 under the provisions of the Companies Act, 1956 and is engaged in the business of travel agent / tour operator and foreign exchange money changing activities. | (i) 139,74,43,600 (ii) 44,02,032,940 | 35,855 | |
| 1.633 | Ayursundra Healthcare Private Limited | Feb/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 6 months to 7 years 3 months (ii) 9 months | (i) raising money from its NRI Director without using the requisite public offer route of issuance of Nonconvertible debentures (NCDs) for raising such money (ii) granting loan to its nonresident Director, Shri Simanta Das, without prior approval of the Reserve Bank of India | The applicant company was incorporated as Ayursundra Healthcare Private Limited, under the Companies Act, 1956, on December 28, 2007. It is engaged in the business of constructing, building, establishing, acquiring hospitals, nursing homes etc. and in manufacturing, importing, exporting and dealing in pharmaceutical industry. | (i) 22,29,89,851 (ii) 130,00,000 | 1,647,381 | |
| 1.634 | Sigve Brekke | Feb/2019 | FDI | FEMA 20/2000-RB | In terms of regulation 7(1)( c) of FEMA 20 ‘Where a Scheme of merger or amalgamation of two or more Indian companies or a reconstruction by way of de-merger or otherwise of an Indian company, has been approved by a Court in India, the transferee company or, as the case may be, the new company may issue shares to the shareholders of the transferor company resident outside India, subject to the condition that …. the transferee or the new company files a report within 30 days with the Reserve Bank giving full details of the shares held by persons resident outside India in the transferor and the transferee or the new company, before and after the merger / amalgamation / reconstruction’ | 3 years 8 months | The compounding is sought for contravention of Section 42-1 of FEMA, 1999 which stipulates that ‘Where a person committing a contravention of any of the provisions of this Act or of any rule, direction or order made thereunder is a company, every person who, at the time the contravention was committed, was in charge of, and was responsible to, the company for the conduct of the business of the company as well as the company, shall be deemed to be guilty of the contravention and shall be liable to be proceeded against and punished accordingly’. | The applicant was the Director of Unitech Wireless (Tamilnadu) Private Limited when the company contravened the provisions contained in Regulation 7(1)(c) read with Paragraph 9(1)(B) of Schedule 1 of Foreign Exchange Management, further read with Section 6(3)(b) of FEMA, 1999, related to delay in reporting of the allotment of shares by the company, beyond the stipulated time period. The company is engaged in the business of wireless telecommunications services.The company was granted permission by GOI vide letter dated November 13, 2009 for foreign investment to the extent of 74% by Telenor Asia Pte Ltd.(TAPL), Singapore, a wholly-owned subsidiary of Telenor ASA, Norway. During the year 2009-10, the company received foreign investment from TAPL amounting to Rs.541.82 crore in terms of the GOI approval and allotted the shares to the foreign investor. Pursuant to a scheme of amalgamation sanctioned by an order of Hon’ble Delhi High Court dated September 27, 2010 the following eight (nos.) companies were amalgamated. | 667,838,280 | 37,667 | |
| 1.635 | Indgrowth Capital Advisors LLP | Feb/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 5 days to 15 months 25 days | The applicant has sought to be compounded for delay in reporting the receipt of remittances in Form Foreign Direct Investment – LLP(I), beyond the stipulated time period of 30 days | The applicant is engaged in the business of acting as advisors, industrial consultants etc. in connection with the management, manufacture etc. of engineering goods and any other allied products required by trade and industry. | 3,750,076,380 | 19,292 | |
| 1.636 | Mr Joel Queirel and Mrs Benedicte Pascale Mireille Caille | Feb/2019 | Acquisition and Transfer of Immovable Property | FEMA 21/2000-RB | Regulation 8 of Notification No. FEMA-21/2000-RB dated May 03, 2000 states that save as otherwise provided in the Act or Regulations, no person resident outside India shall transfer any immovable property in India | 1 years 11 months 03 days i.e May 16, 2005 to April 19, 2017. | Acquisition of immovable property in India without obtaining prior permission of the Reserve Bank of India | The applicants Mr. Joel Queirel and Mrs Benedicte Pascale Mireille Caille are non-resident French citizens of non–Indian origin. They have acquired a plot (by way of purchase) in joint names, without Reserve Bank permission on May 16, 2005 having area of 13.63 ares( 1373 square meters), located at Vizhinjam Village, Neyyatinkara Taluk, District – Thiruvananthapuram, Kerala and subsequently built a 550 sq.mt. residential building on the same plot contravening thereby Regulation 8 of Notification No. FEMA.21 /2000-RB dated May 03, 2000, as amended from time to time. As per information furnished by the applicants, the source of fund to make payment for purchase of land under reference, was brought from France through A/c no. 11615 maintained in joint names of Mr. Joel Queirel and Mrs Benedicte Pascale Mireille Caille with Central Bank of India, Kovalam Branch, Kerala. The applicants have submitted the FIRC’s issued by Central Bank of India dated December 26, 2017 for ₹1,37,28,234/- received in between March 16, 2005 and December 14, 2007. The applicants were non-resident foreign citizens of non-Indian origin at the time of acquisition of the property. As such they were not eligible to purchase any immovable property in India. | 2,875,000 | 3,000,000 | |
| 1.637 | SNC Lavalin Engineering India Private Limited | Mar/2019 | ECB | FEMA 3/2000-RB | Paragraph 1(i) of schedule – I to FEMA Notification No. FEMA.3/2000-RB lays down the eligibility criteria for the borrowers eligible to raise ECB in terms of which entities engaged in consultancy services are not eligible to raise ECB. Paragraph 1(iv) of schedule – I to FEMA Notification No. FEMA.3/2000-RB provides that ECB can be raised only for investment in real sector in India (such as import of capital goods, new projects, modernization/expansion of existing production units) under the automatic route. Paragraph 1(xi) of schedule – I to FEMA Notification No. FEMA.3/2000-RB states that ‘draw-downs of borrowing in foreign exchange shall be made strictly in accordance with the terms of the loan agreement only after obtaining the loan registration number (LRN) from the Reserve Bank’. | period 2005-06 to 2007-08 | The contraventions sought to be compounded relate to the applicant receiving inward remittances as parental support (and supposed to be repaid) from overseas parent company. However, since the payables remained outstanding beyond a period of three years, such inward remittances amounted to deemed External Commercial Borrowings (ECB), when (i) the borrower was not an eligible borrower in terms of extant ECB guidelines; (ii) utilization of (deemed) ECB proceeds to meet operational expenses was nonpermissible end use; and (iii) draw down of the (deemed) ECB without obtaining Loan Registration Number (LRN) from the Reserve Bank of India (RBI). | The applicant company was incorporated as RJ Associates (Engineers) Private Limited, under the Companies Act, 1956, on October 10, 1984. It changed its name to SNC Lavalin Engineering Private Limited with effect from August 30, 2005. It is engaged in the business of financing and asset management, engineering, procurement, construction, training, operations and maintenance and telecommunications. On the applicant’s request, RBI, vide its letter dated 26.06.2018, issued ‘no objection’ for conversion of the outstanding payables into equity subject to the applicant obtaining lender’s consent and complying with the extant FDI policy/FEMA regulations. On applicant’s further request, RBI, vide letter dated 28.08.2018, granted waiver to the applicant from filing ECB-2 returns, however, advising the applicant to, inter-alia, ensure compliance with FDI reporting requirements in Form-FCGPR. The applicant issued equity shares and reported the same in Form – FCGPR, on 30.09.2018, thereby completing the administrative action. | 116,049,776 | 920,373 | |
| 1.638 | Shri Naveen Trehan | Mar/2019 | FDI | FEMA 20/2000-RB | In terms of Paragraph 3 of Schedule 4 of Notification No. FEMA 20/2000-RB “The amount of consideration for purchase of shares or convertible debentures of an Indian company on non-repatriation basis, shall be paid by way of inward remittance through normal banking channels from abroad or out of funds held in NRE/FCNR /NRO/NRSR/NRNR account maintained with an authorised dealer or as the case may be with an authorised bank in India.” 3.2 In terms of Regulation 5(3) (ii) of Notification No. FEMA 20/2000-RB “A non-resident Indian or an overseas corporate body may purchase shares or convertible debentures of an Indian company on non-repatriation basis other than under Portfolio Investment Scheme, subject to the terms and conditions specified in Schedule 4.” | April 15, 2015 to April 26, 2018. | The contraventions sought to be compounded relate to purchase of equity shares of an Indian Company by the applicant pursuant to becoming a Non Resident Indian (NRI) through a resident saving bank account | The applicant acquired certain equity shares (details given below) of Pacific BPO Private Limited, a company incorporated under the Companies Act, 1956,Pacific is engaged in the business of providing healthcare revenue cycle management services to healthcare providers, hospitals and third party medical coding and billing companies. | 3,900,000 | 75,350 | |
| 1.639 | Mr. Sha Mathew | Mar/2019 | Acquisition and Transfer of Immovable Property | FEMA 21/2000-RB | Regulation 8 of Notification No. FEMA-21/2000-RB dated May 03, 2000 states that save as otherwise provided in the Act or Regulations, no person resident outside India shall transfer any immovable property in India | 05 years 10 months 04 days i.e. July 13, 2012 to May 17, 2018 | The contravention sought to be compounded relate to acquisition of immovable property (agricultural land) in India by an NRI without RBI permission | Mr. Sha Mathew, being an NRI has acquired two agricultural properties in Kerala in the year 2012 without obtaining prior permission from the Reserve Bank of India. | 4,030,000 | 2,453,590 | |
| 1.640 | Mr. Chandan Kumar Mishra | Mar/2019 | Acquisition and Transfer of Immovable Property | FEMA 21/2000-RB | Regulation 8 of Notification No. FEMA-21/2000-RB dated May 03, 2000 states that save as otherwise provided in the Act or Regulations, no person resident outside India shall transfer any immovable property in India | 1 years 03 months and 01 days i.e. December 21, 2016 to March 22, 2018. | The contravention sought to be compounded relate to acquisition of immovable property (agricultural land) in India by a NRI without RBI permission | The applicant, Mr. Chandan Kumar Mishra is an NRI, presently residing in California, USA. His Indian residence is in Jamshedpur, East Singbhum, Jharkhand, India. The applicant has purchased immovable property viz. 8 acres of agricultural land in Survey No. 349, Alandurai village, Perur Taluk, District - Coimbatore, India on December 21, 2016, without obtaining prior permission from the Reserve Bank of India | 9,800,000 | 143,680 | |
| 1.641 | Mr Thakorbhai Dahyabhai Patel | Mar/2019 | FEMA -Borrowing & Lending in Rupees Regulations 2000 | FEMA 5/2000-RB & FEMA 4/2000-RB | Regulation 4(C) of Schedule 1 to Notification No. FEMA.5/2000-RB dated 3rd May 2000 states that permissible debit of NRE account is transfer to NRE / FCNR (B) accounts of the account holder or any other person eligible to maintain such account. the loan transaction failed to comply with Regulation 4(i) and (ii) of Notification No. FEMA.4/2000-RB dated 3rd May 2000 as updated upto 20.09.2013, making regulations relating to borrowing and lending in rupees between a person resident in India and a person resident outside India. | 5 years 7 months and 6 days January 4, 2013 – date of firt tranfer to Augut 10, 2018 – date of regularization | The contravention sought to be compounded relate to transfer of funds from NRE account to ordinary savings account | The applicant, Mr. Thakorbhai Dahyabhai Patel is an OCI and a person non-resident in India in terms of Section 2(w) of Foreign Exchange Management Act, 1999. The applicant has opened and maintained ordinary saving bank account with ICICI Bank ltd. and Prime Co-operative Bank Limited. Being a non-resident he is not eligible to open and maintain an ordinary saving account as per extant FEMA guidelines. The applicant has granted a loan of ₹ 1,39,01,100/- to his friend Mr. Narendra V Solanki, a person resident in India in 5 stances starting from 04.01.2013 to 04.09.2014, from his ordinary savings account maintained with ICICI Bank, the amount represented either transfer of funds from his NRE Account maintained with HDFC Bank or amount received from LIC on his father’s death. | 8,501,100 | 113,758 | |
| 1.642 | M/s Capital Foods Private Limited | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting Para 5 of Schedule 1 to Notification No. FEMA 20/2000-RB, Price of shares issued to persons resident outside India under this Schedule, shall not be less than the valuation of shares done as per any internationally accepted pricing methodology for valuation of shares on arm’s length basis, duly certified by a Chartered Accountant or a SEBI registered Merchant Banker where the shares of the company are not listed on any recognised stock exchange in India. | (i) 0Y 0M 29D to 0Y 10M 20D (ii) 8M 12D to 12Y 6M 13D . | (i) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (ii) issuanceofshareswithout adherance to the Pricing Guidelines | Manufacture of macaroni,noodles,couscous and similar farinaceous products | (i) 45,05,49,038 (ii) 565,21,400 | 97,413 | |
| 1.643 | M/s Haworth India Private Limited | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y 1M 2D to 15Y 8M 7D . (ii) 0Y 2M 18D to 15Y 4M 6D . (iii) Financial years 2006-07, 2007-08, 2008-09, 2009-10, 2010-11, 2011-12, 2012-13, 2013-14, 2014- 15 and 2015-16. | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (iii) delay in filing ‘Annual Return on Foreign Liabilities and Assets’ (FLA Returns) | Manufacture of furniture made of wood | (i) 112,50,92,774 (ii) 110,17,02,740 | 2,228,333 | |
| 1.644 | M/s KDD (India) Private Limited | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y 0M 1D to 0Y 8M 2D . (ii) 0Y 0M 1D to 0Y 7M 17D . (iii) 0Y 0M 22D to 0Y 0M 23D . | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (iii) neither the equity instruments were issued, nor the money refunded to the foreign investor, a person resident outside India within 60/75 days (as applicable) of the receipt of the inward remittance | Manufacture of other non-alcoholic beverages, to setup dairy farms in India and to deal in products like milk, cream, butter etc | (i) 20,50,00,000 (ii) 23,51,00,000 (iii) 360,00,000 | 429,583 | |
| 1.645 | M/s Kendrion (Pune) Private Limited | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y 1M 23D to 6Y 11M 0D . (ii) 1Y 0M 17D to 6Y 6M 7D . | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | manufacturers, producers, processors, makers, convertors, importers, exporters, buyers, sellers, wholesalers, suppliers, distributors and service providers of engine cooling systems, air conditioning compressor drives, vibration damper, switchable clutches of auxiliary units, fire protection technology, clutch and break systems and gensets. | (i) 675,00,000 (ii) 4,25,00,000 | 842,750 | |
| 1.646 | M/s Labotek Plastics Auxiliaries India Private Limited | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y 0M 18D to 1Y 10M 28D . (ii) 0Y 1M 1D to 1Y 10M 13D . | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | Manufacture of machinery for working soft rubber or plastics or for the manufacture of products of these materials | (i) 351,66,950 (ii) 350,00,000 | 153,417 | |
| 1.647 | M/s Nomadic Communications Pvt Ltd | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) of 0Y 4M 30D (ii) of 0Y 4M 30D . | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | Business of interalia, advertising and publicity through various ancient and modern modes for promotion of sales of different products or services on turnkey basis and to provide marketing services and to act as consultants for providing creative contents for any products or services in India and abroad. | (i) 1500,000 (ii) 15,00,012 | 22,083 | |
| 1.648 | M/s Shendra Advisory Services Private Limited | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | Financial years2013-14, 2014-15 and 2015-16 | Delayinfiling‘Annual Return on Foreign Liabilities and Assets’ (FLA Returns) and/or Regulation 13.1 (3) of FEMA Notification No. 20(R)/2017RB. | Management consultancy activities | NIL | 30,000 | |
| 1.649 | M/s Smiths Medical India Pvt Ltd | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y0M9D to 0Y7M27D . (ii) 0Y0M10D to 0Y 6M 16D . | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | Medical suppliers, agencies and stores | (i) 11,45,41,179 (ii) 33,23,41,455 | 85,000 | |
| 1.650 | M/s Canary Travel and Logistics Solutions Pvt Ltd | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting Para 5 of Schedule 1 to Notification No. FEMA 20/2000-RB, Price of shares issued to persons resident outside India under this Schedule, shall not be less than the valuation of shares done as per any internationally accepted pricing methodology for valuation of shares on arm’s length basis, duly certified by a Chartered Accountant or a SEBI registered Merchant Banker where the shares of the company are not listed on any recognised stock exchange in India. | (i) 1Y 3M 19D to 1Y 3M 25D . (ii) 1Y 9M 26D to 2Y 0M 6D . (iii) i of 3M 12D | (i) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (ii) issuance of shares without adherance to the Pricing Guidelines | Computer Programming, Consultancy and Related activities. | (i) 12,20,00,000 (ii) 12,20,00,000 (iii) 60,00,00,000 | 447,250 | |
| 1.651 | M/s Sparkle Clean Tech Private Ltd | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) r anging 0Y 0M 3D to 8Y 7M 24D . (ii) 0Y0M 1D to 0Y 5M 15D . (iii) 0Y0M19Dto10Y9M25D. | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (ii) Neither the equity instruments were issued,nor the money refunded to the foreign investor within180days from the receipt of the inward remittance. | Manufacturing and marketing of water treatment plantand water recycling plant. | (i) 12,85,33,920 (ii) 15,15,59,980 (iii) 11,25,76,471 | 2,081,895 | |
| 1.652 | M/s Trikaal Mediinfotech Pvt Ltd | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) of 8Y 3M 26D . (ii) of 7Y 10M 4D . | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | the company operates in pharmaceutical industry in India and works on interconnecting various data sources thereby enablingconsolidation of data which can be used for various purposes like market research,enabling sales data visibility across supply chain etc. | (i) 12717000 (ii) 12717000 | 832,500 | |
| 1.653 | Shiven Malhotra | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 2 years, 5 months and 3 days. | The contravention sought to be compounded is of delay in reporting the transfer of shares in Form FCTRS beyond the stipulated time period | The applicant, a resident individual, had transferred 55,867 equity shares of M/s Volano Entertainment Private Limited, a company engaged in the business of other sports activities to M/s Gamecubator Labs Pte. Ltd., Singapore, a non-resident company, on August 19, 2015 for a consideration of ₹99,99,634.33 | 999,963,433 | 27,500 | |
| 1.654 | IPSTAR (India) Private Limited | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) i 1 months and 1 days. (ii) i 19 days. | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant company was incorporated on January 19, 2016 and is engaged in the business of telecommunications activities. | (i) 10000000 (ii) 10000000 | 21,750 | |
| 1.655 | Dormeuil India Private Limited | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 8 years, 11 months and 3 days to 9 years and 19 days. (ii) i 6 years, 3 months and 10 days. (iii) 10 years & 23 days and 9 years, 11 months & 25 days. | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (ii) Neither the equity instruments were issued,nor the money refunded to the foreign investor within180days from the receipt of the inward remittance. | The applicant company was incorporated on June 2, 2008 and is engaged in the business of wholesale of textiles, fabrics, yarn, household linen, articles of clothing, floor coverings and tapestry, sports clothes. | (i) 379096671 (ii) 3790970 (iii) 65479761 | 140,306 | |
| 1.656 | SKJ Goods Private Limited | Mar/2019 | ODI | FEMA 120/RB-2004 | Delay in reporting | (i) 2 years (ii) 2015-2016 (iii) 1 years | (i) Delay in receipt of share certificate or any other document as an evidence of investment in the foreign entity (ii) Delay in submission ofAnnual Performance Reports (APRs) within the stipulated time period (iii) Disinvestment without the submission of APRs. | The applicant, SKJ Goods Private Limited is a company incorporated on December 16, 2013 engaged in wholesale trading of goods.The applicant remitted AED 47,758 (INR 8,11,096) on October 14, 2014 towards investment in overseas Wholly Owned Subsidiary (WOS) named SKJ Goods Private Limited FZE in UAE. However, the applicant had received share certificate for the amount of AED 35,000 on December 27, 2016 which is beyond the stipulated time as prescribed under Regulation 15(i) of the Notification ibid. Further, the balance amount of AED 12,758 was repatriated back to India with a delay on March 22, 2017 which is not in line with the Regulation ibid. The applicant had reported the APRs for the year 2015 and 2016 with a delay on February 06, 2017, contravening Regulation 15(iii) of Notification ibid. The applicant company later divested its stake in the overseas WOS on October 19, 2017. However, this disinvestment was effected without the submission of APR for that year, which is not in compliance with Regulation 16(1) (v) of the Notification ibid. The APR for the period 2017 was subsequently reported on December 27, 2017. | (i) 811096 (ii) 0 (iii) 811096 | 114,055 | |
| 1.657 | Apposite Trading Private Limited | Mar/2019 | ODI | FEMA 120/RB-2004 | Delay in reporting | the period of contravention i 3 months . | The applicant has sought to be compounded for nonreceipt of share certificates or any other proof of investment, within the stipulated time period of six months. | It is engaged in the business of financing industrial enterprises and to carry on the business of a finance company. The applicant remitted a sum of USD 1,248,000.00 on 03.02.2017, for purchase of 3,08,60,534 shares of Piramal Glass Ceylon PLC, a company incorporated in Sri Lanka. The shares were to be acquired on the Colombo Stock Exchange. The applicant could acquire only 69,59,677 shares, within the stipulated period of six months due to low volume of trades on the Colombo stock exchange. The share certificates or any other proof of investment for the remaining amount of USD 967,021.00 (Rs. 6,30,01,418.15) could not be received by the applicant within the stipulated period of six months | 6,300,141,815 | 10,000 | |
| 1.658 | Cheerful Commercial Private Limited | Mar/2019 | ODI | FEMA 120/RB-2004 | Delay in reporting | the period of contravention i 3 months . | The applicant has sought to be compounded for nonreceipt of share certificates or any other proof of investment, within the stipulated time period of six months. | It is engaged in the business of buying, selling, exporting, importing all types of commodities, goods, products etc. The applicant remitted a sum of USD 1,950,000.00 on 03.02.2017, for purchase of 4,82,19,585 shares of Piramal Glass Ceylon PLC, a company incorporated in Sri Lanka. The shares were to be acquired on the Colombo Stock Exchange. The applicant could acquire only 65,74,763 shares, within the stipulated period of six months due to low volume of trades on the Colombo stock exchange. The share certificates or any other proof of investment for the remaining amount of USD 1,687,602.00 (Rs. 10,98,29,138.00) could not be received by the applicant within the stipulated period of six months | 10,982,913,800 | 10,000 | |
| 1.659 | Hill & Smith Infrastructure Products India Private Limited | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 3 to 18 days. | The contraventions sought to be compounded are those of delay in filing Form FCGPR after issue of shares | The applicant company was incorporated on August 18, 2010 and is engaged in the business of manufacture, buying, selling, importing, exporting, distributing and dealing in infrastructure products for roads, rails, utilities and security, etc. | 218,877,100 | 27,120 | |
| 1.660 | World Learning India Private Limited | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 to 19 days. (ii) i 13 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant company was incorporated on July 23, 1997 with the name “Third Millenium Consultants Pvt. Ltd.” which was changed to “World Learning for Business India Pvt. Ltd.” and then to “World Learning India Private Limited” on August 29, 2006. The company is engaged in the business of educational support services. | (i) 5014699384 (ii) 99800 | 24,360 | |
| 1.661 | Millennial Card Technologies Private Limited | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) i 14 days (ii) are 6 days and 1 months &1 days. 5. | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant company was incorporated on May 17, 2017 and is engaged in the business of developing and providing information service activities. | (i) 2446674 (ii) 4893348 | 20,825 | |
| 1.662 | GJG India Private Limited | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) i 9 months and 26 days. (ii) i 2 years, 1 months and 27 days. | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant company was incorporated on March 22, 2016 and is engaged in the business of sales and trading of all types of machines, mechanical parts,components, tools etc. | (i) 52070 (ii) 52070 | 7,811 | |
| 1.663 | Eaton India Innovation Center LLP | Mar/2019 | FDI | FEMA 20/2000-RB | Regulation 5(9) of Notification No. FEMA 20/2000-RB states that, “A person resident outside India (other than a citizen of Pakistan or Bangladesh) or an entity incorporated outside India, (other than an entity in Pakistan or Bangladesh), not being a registered Foreign Institutional Investor or Foreign Venture Capital Investor or Qualified Foreign Investor registered with SEBI or Foreign Portfolio Investor registered in accordance with SEBI guidelines, may contribute foreign capital either by way of capital contribution or by way of acquisition/ transfer of profit shares in the capital structure of an LLP under Foreign Direct Investment, subject to the terms and conditions as specified in Schedule 9.” | (i) 7 months (ii) 18 days to 5 months | The applicant has sought to be compounded for (a) delay in reporting the receipt of remittances in Form Foreign Direct Investment (FDI) – Limited Liability Partnership (LLP) (I), beyond the stipulated time period of 30 days, and (b) delay in reporting the transfer of capital contribution between a resident and a nonresident, in Form FDI – LLP(II) | The applicant is engaged in the business of providing IT and IT enabled services, including Research and Technology Development services, engineering design and services and testing and validation services. | (i) 259280000 (ii) 220552273 | 70,583 | |
| 1.664 | Maclines Trading India Private Limited | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) Period of contravention 16 days to 5 months 24 days . (ii) Period of contravention 3 months 22 days to 1 years 10 months . | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant was incorporated as Maclines Trading India Private Limited, on July 19, 2013, under the Companies Act, 1956 . It is engaged in the business of general trading in all types of goods on wholesale basis in India or elsewhere. | (i) 11900000 (ii) 11900000 | 35,375 | |
| 1.665 | M/s Usha Martin Limited | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 6 months to thirty 7 months (ii) thirty 7 months to forty months | The contraventions sought to be compounded is for delay in submission to the Reserve Bank of both Form ARF after receipt of inflow from a person resident outside India and Form FCGPR after issue of shares to a person resident outside India beyond the stipulated 30 days | The applicant is in the business of manufacturing of hot-rolled and cold-rolled products of steel. The applicant had received foreign inward remittances for subscription to equity shares under the Automatic Route from foreign investors. The applicant had reported the two remittances with a delay ranging from 173 days to 1087 days beyond the stipulated period of 30 days | (i) 264766997 (ii) 263749500 | 1,020,000 | |
| 1.666 | M/s Orbit Belting Private Limited | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 62 days to 302 days | The contraventions sought to be compounded is for delay in submission to the Reserve Bank of Form FCGPR after issue of shares to a person resident outside India beyond the stipulated 30 days | The applicant is in the business of Manufacturing and exporting of conveyor beltings {NIC: 22192}. The applicant had received foreign inward remittances for subscription to equity shares under the Automatic Route from foreign investors. | 15,407,250 | 17,292 | |
| 1.667 | M/s Atlas Healthcare Software India Pvt. Ltd | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 952 days to 3505 days | The contraventions sought to be compounded is for delay in submission to the Reserve Bank of both Form ARF after receipt of inflow from a person resident outside India and Form FCGPR after issue of shares to a person resident outside India beyond the stipulated 30 days and also for delay in refund of excess amount after share allotment beyond the stipulated 180 days of the receipt of inflow to a person resident outside India | The applicant, M/s Atlas Healthcare Software India Pvt. Ltd., was incorporated under Companies Act, 1956, on November 19, 2007 and is in the business of Writing, modifying, testing of computer program to meet the needs of a particular client excluding web-page designing. | 179,051,797 | 516,410 | |
| 1.668 | M/s DCG Ailabs Academy Pvt. Ltd. | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 months | The contraventions sought to be compounded is for delay issuance of shares beyond the stipulated 60 days of the receipt of inflow to a person resident outside India | The applicant, M/s DCG Ailabs Academy Pvt. Ltd., was incorporated under Companies Act, 2013, on November 7, 2017 and is in the business of Educational certification courses on artificial intelligence | 1,602,403 | 58,012 | |
| 1.669 | M/s Deutsche Maschinen India Pvt. Ltd | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 85 days to 109 days | The contraventions sought to be compounded is for delay in submission to the Reserve Bank of both Form ARF after receipt of inflow from a person resident outside India and Form FCGPR after issue of shares to a person resident outside India beyond the stipulated 30 days | The applicant, M/s Deutsche Maschinen India Pvt. Ltd., was incorporated under Companies Act, 1956, on May 17, 2007 and is in the business of repair and installation of machinery and equipment | 276,876,456 | 113,958 | |
| 1.670 | M/s Solex Chemicals Private Limited | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 6 months | The contraventions sought to be compounded is for delay in submission to the Reserve Bank of Form FCGPR after issue of shares to a person resident outside India beyond the stipulated 30 days | The applicant, M/s Solex Chemicals Private Limited, was incorporated under Companies Act, 1956, on July 1, 2008. The applicant is in the business of Manufacture of chemicals and chemical products | 16,106,480 | 35,000 | |
| 1.671 | M/s Wow Momo Foods Pvt. Ltd. | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 16 days to 1078 days | The contraventions sought to be compounded is for delay in submission to the Reserve Bank of both Form ARF after receipt of inflow from a person resident outside India and Form FCGPR after issue of shares to a person resident outside India beyond the stipulated 30 days | The applicant, M/s Wow Momo Foods Pvt. Ltd., was incorporated under Companies Act, 1956, on September 29, 2003 and is in the business of Cafeterias, fast-food restaurants and other food preparation in market stalls | 767,562,112 | 64,871 | |
| 1.672 | M/s Newby Teas Resources Pvt. Ltd | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 5 days to 4644 days | The contraventions sought to be compounded is for delay in submission to the Reserve Bank of both Form ARF after receipt of inflow from a person resident outside India and Form FCGPR after issue of shares to a person resident outside India beyond the stipulated 30 days | The applicant, M/s Newby Teas Resouces Pvt. Ltd., was incorporated under Companies Act, 1956, on September 29, 2003 and is in the business of Blending, packaging and export of tea | 99,999,980 | 2,120,875 | |
| 1.673 | M/s Tekray India Pvt. Ltd. | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 387 days beyond the tipulated period of 180 days the receipt of remittance | The contraventions sought to be compounded is for delay in submission to the Reserve Bank of Form FCGPR after issue of shares to a person resident outside India beyond the stipulated 30 days and also for delay in refund of the excess amount of inward remittances beyond the stipulated 180 days of the receipt of inflow to a person resident outside India | The applicant, M/s Tekray India Pvt. Ltd., was incorporated under Companies Act, 2013, on June 24, 2016 and is in the business of Wholesale of scientific, medical and surgical machinery and equipment | 299,418 | 56,044 | |
| 1.674 | M/s Lorch Welding Products Pvt. Ltd. | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | of 1081 days, beyond the tipulated period of 180 days Dealy of 879 to 1274 days for FCGPR | The contraventions sought to be compounded is for delay in submission to the Reserve Bank of Form FCGPR after issue of shares to a person resident outside India beyond the stipulated 30 days and also for delay in refund of excess amount after share allotment beyond the stipulated 180 days of the receipt of inflow to a person resident outside India | The applicant, M/s Lorch Welding Products Pvt. Ltd., was incorporated under Companies Act, 1956, on November 19, 2007 and is in the business of Wholesale of other machinery, equipment and supplies | 27,081,060 | 231,661 | |
| 1.675 | M/s Chryso India Pvt. Ltd. | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | of 3035 days | The contraventions sought to be compounded is for delay in refund of the excess amount of inward remittances beyond the stipulated 180 days of the receipt of inflow to a person resident outside India | The applicant, M/s Chryso India Pvt. Ltd., was incorporated on March 21, 1950 and is in the business of manufacturing of other chemical products (NIC Code 2008-2429). | 75,000 | 45,844 | |
| 1.676 | SANOVITA INDIA PRIVATE LIMITED | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 122 to 363 days (ii) 107 to 210 days (iii) 128 to 218 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity shares (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India (iii) delay in refund of excess share application money to the foreign investor | The applicant company was incorporated on May 13, 2016 under the Companies Act 2013.The applicant is engaged in Research and experimental development on natural science and engineering. | (i) INR 87752000 (ii) INR 82500000 (iii) INR 5252000 | 26,492 | |
| 1.677 | M/s Yuhua Electric Appliances India Pvt. Ltd. | Mar/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 109 days | The contravention sought to be compounded is the delay in issuance of shares beyond stipulated time period of 60 days after receiving inflow from a person resident outside India | The applicant company was incorporated on March 07, 2017 under the Companies Act 2013.The applicant is engaged in the business of Manufacture of domestic electrothermic appliances such as electric water heaters, space heaters, irons, ovens, toasters, microwave ovens etc. | 487,759 | 5,243,900 | |
| 1.678 | M/s Himalayan Rocket Stove Pvt. Ltd. | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 44 days to 129 days (ii) 161 days to 365 days (iii) 106 days | (i) delay in reporting of inward remittance against issue of equity shares and (ii) delay in submission of FCGPR to the Reserve Bank after issue of shares (iii) delay in receiving of the inflow amount beyond stipulated days after issue of shares to a person resident outside India | The applicant company, M/s Himalayan Rocket Stove Pvt. Ltd. is a private Limited company incorporated on March 01, 2017 under the Companies Act 2013. The applicant is engaged in the business of manufacture of metal household articles like plates, saucers, pots, kettles, saucepans, frying pans and other non-electrical utensils, small hand-operated kitchen appliances and accessories. | (i) 59502800 (ii) 23 7720000 (iii) 98174 | 26,391 | |
| 1.679 | M/s Cocubes Technologies Pvt. Ltd. | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 49 days | The contravention sought to be compounded pertain to delay in submission of FCGPR to the Reserve Bank after issue of shares | The applicant is engaged in providing services to assist, guide and also to render services relating to recruitment, education, training and placement of technically qualified computer and information technology personnel. | 24,900,444 | 1,041,800 | |
| 1.680 | Inceptor Technologies Pvt. Ltd. | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 245 days (ii) 866 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay beyond 30 days in submission of form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The company is engaged in developing a new affordable technology in Braille such that the blind people can comprehend communications received through digital medium and create a social impact for the benefit of blind. | (i) 1001524 (ii) 1001524 | 27,725 | |
| 1.681 | Deepkiran Foods Pvt. Ltd. | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 116 to 676 days (ii) 3915 days. | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in refund of share application money beyond stipulated period of 180 days | The company is engaged in manufacture of semi-processed and instant foods bearing NIC Code 2008: 10799. | (i) 31453491 (ii) 1453589 | 112,563 | |
| 1.682 | M/s Amsri Builders Private Limited | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 13 days (ii) 2 months 16 days (iii) months 23 days to 6 years 7 months 8 days | i) delay in reporting receipt of foreign inward remittances (ii) delay in allotment of shares to the foreign investor beyond 180 days from the date receipt of foreign inward remittance (iii) delay in filing of FLA returns | The applicant is a resident company incorporated as Private Limited Company under the Companies Act, 1956 . The company is engaged in construction of buildings carried out on own-account basis or on a fee or contract basis. | (i) 600000 (ii) 223000000/ | 953,830 | |
| 1.683 | M/s Amsri Developers Private Limited | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 16 days (ii) 1 months 23 days to 6 years 7 months 8 days . | (i) delay in reporting receipt of foreign inward remittances (ii) delay in filing of FLA returns | The company is engaged in construction of buildings carried out on own-account basis or on a fee or contract basis. | (i) 581500000 | 88,000 | |
| 1.684 | M/s Amsri Realtors Private Limited | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) i 1 days (ii) 1 months 23 days to 6 years 7 months 8 days | (i) delay in reporting receipt of foreign inward remittances (ii) delay in filing of FLA returns | The company is engaged in construction of buildings carried out on own-account basis or on a fee or contract basis. | 197,860,000 | 88,000 | |
| 1.685 | M/s Amsri Infra Projects Private Limited | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 13 days (ii) 2 months 16 days (iii) 1 months 23 days to 6 years 7 months 8 days | (i) delay in reporting receipt of foreign inward remittances (ii) delay in allotment of shares to the foreign investor beyond 180 days from the date receipt of foreign inward remittance (iii) delay in filing of FLA returns | The company is engaged in construction of buildings carried out on own-account basis or on a fee or contract basis. | (i) 600000 (ii) 250000000 | 1,055,080 | |
| 1.686 | M/s Amsri Properties and Townships Private Limited | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 16 days (ii) months 23 days to 6 years 7 months 8 days | (i) delay in reporting receipt of foreign inward remittances (ii) delay in filing of FLA returns | The company is engaged in construction of buildings carried out on own-account basis or on a fee or contract basis. | 335,000,000 | 88,000 | |
| 1.687 | M/s. ZTT India Pvt Ltd | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 4 days (ii) 4 days to 11 months 08 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay beyond 30 days in submission of form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The company is engaged in the business of Manufacture of printer cables, monitor cables, USB cables, connectors etc. | 818,403,261 | 90,000 | |
| 1.688 | M/s. KeyPoint Technologies (India) Private Limited | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 days to 6 years 6 months 4 days (ii) 3 days to 6 years 6 months 26 days (iii) 13 days to 1 years 8 months 9 days (iv) 1 days to 10 years 7 months 20 days | (i) delay in reporting of receipt of foreign inward remittances towards subscription of equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India (iii) delay in allotment of shares to aperson resident outside India (iv) delay in filing the annual return in respect of the Foreign Liabilities and Assets | The company is engaged in the business of “Writing, modifying, testing of computer program to meet the needs of a particular client excluding web-page designing”. | (i) 42660659481 (ii) 830955400 (iii) 19089664 | 2,777,199 | |
| 1.689 | M/s. Elixsys Lifesciences Private Limited | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 16 days (ii) 1 years 7 months 7 days (iii) 6 months 10 days to 1 years 6 months 10 days | (i) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India (ii) delay in allotment of shares to aperson resident outside India (iii) delay in filing the annual return in respect of the Foreign Liabilities and Assets | The company is engaged in the business of human health activities. | (i) 99990 (ii) 20754 | 23,557 | |
| 1.690 | M/s Prathista Industries Limited | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 3 days to 9 months 25 days | The contravention sought to be compounded is allotment of shares to foreign investors before receipt of inward remittances | The company is engaged in the business of manufacturing flour mixes and prepared blended flour and dough for bread, cakes, biscuits. | 8,588,705,009 | 479,435 | |
| 1.691 | M/s. Chandler Impex Pvt Ltd | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 16 days | The contravention sought to be compounded is delay in reporting receipt of foreign inward remittances to Reserve Bank of India | The company is engaged in other retail sale not in stores, stalls or markets, which they have declared as permissible under 100% automatic route. | 900,000 | 10,080 | |
| 1.692 | M/s. Rockwell Educational Institutions Pvt Ltd | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 23 days to 2 years 3 months (ii) 2 years 9 days to 2 years 3 months 21 days (iii) 7 months 5 days to 2 years 7 months 5 days | (i) delay in reporting of receipt of foreign inward remittances towards subscription of equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India (iii) delay in filing the annual return in respect of the Foreign Liabilities and Assets | The company is engaged in Educational support services. | (i) 3250144238 (ii) 32373900 | 323,715 | |
| 1.693 | M/s Com Pak Plus India Private Limited | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 4 months 21 days (ii) 2 months 11 days (iii) 5 months 9 days | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPR to Reserve Bank of India after issue of shares towards subscription to equity (iii) delay in refund of share application money to the foreign investor beyond 180 days from the date receipt of foreign inward remittance | The company is engaged in remediation and other waste management activities. | (i) 49899302 (ii) 490000 (iii) 899302 | 21,277 | |
| 1.694 | M/s. Celon Laboratories Private Limited | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 10 years 3 months 7 days (ii) 8 years 6 months 1 days | (i) receiving consideration amount from third party for the allotment of shares to resident outside India on Nonrepatriation basis (ii) Transfer of shares to nonresident under nonrepatriation, which were originally held on repatriation | The company is engaged in the business of manufacturing, marketing and distributing pharmaceutical formulations in the oncology and critical care segments. | (i) 10725000 (ii) 7168340 | 215,470 | |
| 1.695 | M/s Surbana International Consultants (India) Private Limited | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 months 13 days | The contravention sought to be compounded is delay in submission of Form FCGPR to Reserve Bank of India after issue of shares | The company is engaged in the business of Architectural and engineering activities and related technical consultancy. | 300,540,800 | 28,190 | |
| 1.696 | Mr. Madhusudana Sarma Susarla | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 years 10 days | The contravention sought to be compounded is delay in reporting of Form FCTRS for the transfer of shares from resident to nonresident to the Reserve Bank of India | The applicant, Shri Madhusudana Sarma Susarla, a resident individual (PAN AIRPS8634D) has transferred 1000 equity shares held in M/s Agiliance India Pvt Ltd, a company incorporated on 20.02.2008, to M/s Agiliance Inc, a non-resident limited company. | 10,000 | 514 | |
| 1.697 | M/s. Escrowtech India Pvt Ltd. | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 9 months 19 days . | The contravention sought to be compounded is delay in allotment of shares to the nonresident investors | The applicant company was incorporated on February 10, 2005 under the provisions of the Companies Act, 1956 and is engaged in business of data processing, hosting and related activities. | 272,984 | 38,524 | |
| 1.698 | M/s. Ibiz Consultancy Services India Pvt Ltd | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 18 days | The contravention sought to be compounded is taking on record the transfer of shares in the books of the company without certified FCTRS | The applicant company was incorporated on December 17, 2008 under the provisions of the Companies Act, 1956 and is engaged in business of computer consultancy and computer facilities management activities. | 400,000 | 10,080 | |
| 1.699 | Shri Mahesh Ramakrishnan | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 10 months 16 days to 1 years 19 days | The contravention sought to be compounded is delay in reporting the transfer of shares from resident to nonresident i.e., delay in submission of FCTRS | The applicant, an individual by name Shri Mahesh Ramakrishnan, is a resident shareholder in the company M/s. M S R Garments Pvt Ltd., a private limited company incorporated under the Companies Act, 1956 | 8,126,748 | 19,860 | |
| 1.700 | M/s. Ppyrus India Pvt Ltd. | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 20 days to 1 years 3 months 25 days (ii) 19 days to 1 years 6 months 7 days (iii) 1 years 11 months | (i) delay in reporting of inflow of funds received from a person resident outside India forallotment of shares (ii) delay in submission of Form FCGPR on allotment of shares to Reserve Bank (iii) delay in refund of inward remittance received | The applicant company was incorporated on April 29, 2015 under the provisions of the Companies Act, 2013 and is engaged in educational support services. | (i) 82469295 (ii) 65340000 (iii) 100000000 | 73,570 | |
| 1.701 | M/s. Orissa Stevedores (Overseas) Private Limited | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 5 months and 8 days to 1 years 8 months and 3 days, | The contravention sought to be compounded is delay in submission of Form FCGPR to the Reserve Bank after issue of shares | The applicant was incorporated on September 21, 1993 and deals in carrying out the business as merchants, traders, commission agents or in any other capacity in India or elsewhere and to import, export, buy, sell, barter, exchange, pledge or otherwise deal in handicrafts and merchandise. | 237,534,700 | 72,250 | |
| 1.702 | M/s. Milk Mantra Dairy Pvt. Ltd. | Mar/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 21 days to 26 days, | The contravention sought to be compounded is delay in submission of Form FCGPR to the Reserve Bank after issue of shares | The applicant was incorporated on August 04, 2009 and deals in carrying on the business of dairy and dairy related products. | 4,991,889,525 | 51,000 | |
| 1.703 | M/s Keymail International Logistic Services Private Limited | Mar/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 2 months and 6 days | The contravention sought to be compounded is allotment of shares to persons resident outside India, prior to receipt of inward remittances | The company is engaged in the business of organizing logistics, providing cargo services, conductors and implementers for shipment, movement, transportation, transfer, delivery and transshipment of goods. | 50,000 | 93,100 | |
| 1.704 | Laxmiflex Packtech India Private Ltd. | Apr/2019 | ECB | FEMA 3/2000-RB | Paragraph 1(xi) of Schedule – I to FEMA Notification No. FEMA.3/2000-RB read with paragraph E 16 of Annex to A.P.(DIR Series) Circular No. 32 dated November 30, 2015 which states that “Any draw-down in respect of an ECB as well as payment of any fees / charges for raising an ECB should happen only after obtaining the LRN from the Reserve Bank”. The draw-down by the applicant was made without making application for obtaining LRN from RBI. Paragraph 1(xii) of Schedule – I to FEMA Notification No. FEMA.3/2000-RB read with paragraph E 16 of Annex to A.P.(DIR Series) Circular No. 32 dated November 30, 2015 which states that “the borrowers are required to submit a copy of duly certified ECB 2 Return through the AD Cat I bank on monthly basis so as to reach DSIM within seven working days from the close of month to which it relates”. The ECB was not reported to RBI. | 2 years and 10 months to 2 years and 09 months, | The contraventions sought to be compounded relate to availing External Commercial Borrowing (ECB) when (i) draw down of the ECB without obtaining Loan Registration Number (LRN) from the Reserve Bank of India (RBI); (ii) not meeting reporting requirements | The applicant is engaged in the business of manufacturing, design, distribution and sales of packaging products. The applicant company had availed two INR loans of INR 35 lakh and INR 20 lakh, on January 12, 2016 and February 15, 2016, respectively, from its non-resident holding Company, M/s Lamiflex AB Company, Sweden without obtaining LRN, which was not in compliance of reporting requirements under ECB framework. | 5,500,000 | 31,000 | |
| 1.705 | TPV Technology India Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 4 months & 18 days and 2 years, 8 months & 8 days. | The contraventions sought to be compounded are of delays in filing form FCGPR after issue of shares | The applicant company, incorporated on June 24, 2013, is a subsidiary of M/s Top Victory Investments Limited, Hong Kong and is engaged in wholesale business of computers and computer peripheral equipment. | 399,180,410 | 285,420 | |
| 1.706 | Energetic Construction Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 4 months & 15 days and 4 months & 18 days | The contraventions sought to be compounded are those of delay in filing form FCGPR after issue of debentures | The applicant company was incorporated on May 7, 1996 and is engaged in the business of construction of buildings carried out on own-account basis or on a fee or contract basis. | 266,979,900 | 73,000 | |
| 1.707 | E2E Networks Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 6 years, 6 months & 23 days and 7 years & 2 days (ii) 5 years & 27 days and 6 years, 11 months & 14 days (iii) 1 years, 4 months and 8 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (iii) delay in issue of shares beyond 180 days | The applicant company was incorporated on August 20, 2009 and is engaged in the business of data processing, hosting and related activities. | (i) 700367 (ii) 700420 (iii) 300000 | 84,553 | |
| 1.708 | Simpler Consulting India Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 13 days to 4 years, 2 months and 12 days (ii) 10 days to 3 years, 9 months and 1 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant company was incorporated on January 5, 2012 and is engaged in the business of management consultancy activities. | (i) 399047250 (ii) 3990452 | 51,835 | |
| 1.709 | Rising Sun Energy Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3 days to 1 years, 5 months and 1 days (ii) 2 months and 11 days to 11 months and 25 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant company was incorporated on September 25, 2014 and is engaged in the business of electric power generation using solar energy. | (i) 223124600 (ii) 565613660 | 114,965 | |
| 1.710 | M/s Quiver Digital Solutions India Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 25 days (ii) 6 days to 1 months and 5 days (iii) 2 months and 2 days to 2 months and 3 days. | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (iii) delay in reporting the transfer of shares by NonResident to Resident | The activity undertaken by the company is providing software services and reproduction of recorded media. | (i) 734695278 (ii) 4696009000 (iii) 9800000 | 26,683 | |
| 1.711 | M/s Rhea Healthcare Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 2 days to 13 days | The contravention sought to be compounded is delay in submission of Form FCGPR to the Reserve Bank, after issue of shares to a person resident outside India | The company is engaged in the business of constructing, establishing and managing hospitals, clinical laboratories, diagnosis centers and allied institutions for providing most advanced specialist medical and surgical treatment especially in maternal healthcare, child delivery neonatal science, pregnancy, parental and gynecological need including mother and child care needs. | 1,461,365,611 | 34,000 | |
| 1.712 | M/s Citymax Hotels (India) Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 5 days to 14 days (ii) 24 days to 2 months and twenty 3 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The Company is engaged in the business of food/restaurant and entertainment under brands “Krispy Kreme and fun city. | (i) 27300000000 (ii) 9580352000 | 454,518 | |
| 1.713 | M/s Transforming Higher Education GATE Academy Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 years 2 months and 7teen days to 3 years 11 months and 8 days (ii) 4 years 1 months and 8 days to 5 years 1 months and 13 days. | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The Company is engaged in the business of conducting coaching in career oriented and recruitment examination to pupil pursuing career in varied fields like UPSC, MBS, etc. | (i) 1200173900 (ii) 1200173788 | 129,130 | |
| 1.714 | M/s Reitzel India Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 10 days to 6 months and 10 days (ii) 1 months and 6 days to 2 months and 4 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The activity undertaken by the company is manufacturing/processing, import and export of pickled gherkins, baby corns and jalapenos which are packed in jars, drums, tins, pouches, etc. | (i) 22360225000 (ii) 21633937101 | 148,820 | |
| 1.715 | M/s ZP India Advisory Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 years 3 months and 1 days to 2 years and 15 days | The contravention sought to be compounded is allotment of shares to persons resident outside India, beyond 180 days from the date of receipt of inward remittances | The company is engaged in the business of providing establishment and management of funds, investment advises, consultancy and other non-fund related activities. | 3,088,043,455 | 139,748 | |
| 1.716 | M/s Korta Engineering India Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 months and 2 days to 9 months and 4 days (ii) 5 years 3 months and 8een days (iii) 26 days to 6 years 5 months and 8 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) allotment of shares beyond 180 days from the date of receipt of inward remittance (iii) delay in submission of form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India, | The company is engaged in the business of manufacturing, distributing, exporting, importing and trading in machine tool precision accessories such as ball screw assemblies. | (i) 1460100590 (ii) 372850000 (iii) 1703830000 | 120,930 | |
| 1.717 | M/s Dytech Power Solutions (India) Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 4 days to 14 days (ii) 1 days to 1 months and 8 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The activity undertaken by the company is Manufacturing and Trading in energy saving devices. | (i) 2386417070 (ii) 1535095000 | 26,345 | |
| 1.718 | M/s 3Five8 Technologies Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 months and thirty days to 2 years 7 months and 5 days (ii) 1 years to 2 years 9 months and 13 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The activity undertaken by the company is in the area of information technology and computer services. | (i) 3960106700 (ii) 2760933340 | 167,925 | |
| 1.719 | M/s Zoomcar India Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 years 2 months and 27 days (ii) 1 days to 1 years elven months and 26 days | (i) allotment of shares prior to receipt of share application money (ii) delay in submission of form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India, | The company is in the business of providing self-drive cars on rent. | (i) 10000000 (ii) 103543475958 | 132,990 | |
| 1.720 | M/s Liv Artificial Intelligence Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 5 days to 3 months and 7teen days (ii) 4 days to 3 months and 19 days (iii) Financial years 2015-16, 2016-17 and 2017-18 | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (iii) delay in filing the Annual Return on Foreign Liabilities and Assets | The business activity undertaken by the Company is related to information technology and computer services. | (i) 4594034450 (ii) 4365035800 | 89,265 | |
| 1.721 | M/s Kieraya Furnishing Solutions Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 11 days to 1 years 7 months and 6 days (ii) 9 days to 2 years 9 months and 12 days | (i) allotment of shares prior to receipt of share application money (ii) delay in submission of form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India, | The activity undertaken by the company is to carry on the business of providing furnishing solutions by purchasing and letting on rent, furniture, fixtures, domestic equipment, home appliances, office equipment and electronic equipment. | (i) 48213251000 (ii) 60390101115 | 248,315 | |
| 1.722 | M/s Super Easy Software Pvt. Ltd. | Apr/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 98 days | The contravention sought to be compounded is the delay in refunding the excess amount beyond stipulated time after issue of shares to a person resident outside India | The applicant company was incorporated on April 26, 2017 under the Companies Act 2013.The applicant is engaged in the business of computer programming, Consultancy and related activities. | 1,215,500 | 33,100 | |
| 1.723 | M/s Flying Trade India Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 29 days to 525 days (ii) 355 days | (i) delay in submission of FCGPR to the Reserve Bank after issue of shares (ii) delay in receiving of the inflow amount beyond stipulated days after issue of shares to a person resident outside India | The applicant Company, M/s Flying Trade India Private Limited is a private Limited company incorporated on May 25, 2016 under the Companies Act 2013. The applicant is engaged in the business of Rice Milling. | (i) 6830999000 (ii) 9999000 | 2,564,900 | |
| 1.724 | Shri Vinit Beriwala | Apr/2019 | LRS | Section 5 of FEMA, 1999 | In terms of Section 5 of FEMA, 1999 “Any person may sell or draw foreign exchange to or from an authorised person if such sale or drawal is a current account transaction Provided that the Central Government may, in public interest and in consultation with the Reserve Bank, impose such reasonable restrictions for current account transactions as may be prescribed.” Further, in terms of Para 7(b) of the Master Direction on Liberalized Remittance Scheme dated January 1, 2016, “any resident individual may remit up-to USD 2,50,000 in one FY as gift to a person residing outside India or as donation to an organization outside India.” In the instant case the applicant (a resident) contravened the above provision by remitting GBP 85,000 as gift to his parents who were residents. | 7 years 11 months and 19 days. | The contravention sought to be compounded is remittance made as gift under the Liberalized Remittance Scheme (LRS) from a person resident in India to another person resident in India which is not permitted under the LRS guidelines. | The applicant, a resident individual, remitted GBP 85,000 (Rs. 61,91,076/-), to the overseas joint foreign currency account of Shri Shyam Sunder Beriwala and Smt. Bimla Devi Beriwala (his parents), as a gift, on 19.11.2010, under LRS. However, since the applicant and his parents are resident Indians, the transaction was not permitted under LRS | 6,191,076 | 96,433 | |
| 1.725 | Smt Uma Beriwala | Apr/2019 | LRS | Section 5 of FEMA, 1999 | In terms of Section 5 of FEMA, 1999 “Any person may sell or draw foreign exchange to or from an authorised person if such sale or drawal is a current account transaction Provided that the Central Government may, in public interest and in consultation with the Reserve Bank, impose such reasonable restrictions for current account transactions as may be prescribed.” Further, in terms of Para 7(b) of the Master Direction on Liberalized Remittance Scheme dated January 1, 2016, “any resident individual may remit up-to USD 2,50,000 in one FY as gift to a person residing outside India or as donation to an organization outside India.” In the instant case the applicant (a resident) contravened the above provision by remitting GBP 85,000 as gift to his parents who were residents. | 8 years 1 months and 21 days. | The contravention sought to be compounded is remittance made as gift under the Liberalized Remittance Scheme (LRS) from a person resident in India to another person resident in India which is not permitted under the LRS guidelines. | The applicant, a resident individual, remitted GBP 1,00,000 on 17.09.2010 and GBP 25,000 on 18.11.2010 (Rs. 91,00,280/-), to the overseas joint foreign currency account of Shri Shyam Sunder Beriwala and Smt. Bimla Devi Beriwala (her parents-in-law), as gift on two occasions under LRS. However, since the applicant and her parents-in-law are resident Indians, the transaction was not permitted under LRS | 9,100,280 | 118,252 | |
| 1.726 | Shri Vitthal Beriwala | Apr/2019 | LRS | Section 5 of FEMA, 1999 | In terms of Section 5 of FEMA, 1999 “Any person may sell or draw foreign exchange to or from an authorised person if such sale or drawal is a current account transaction Provided that the Central Government may, in public interest and in consultation with the Reserve Bank, impose such reasonable restrictions for current account transactions as may be prescribed.” Further, in terms of Para 7(b) of the Master Direction on Liberalized Remittance Scheme dated January 1, 2016, “any resident individual may remit up-to USD 2,50,000 in one FY as gift to a person residing outside India or as donation to an organization outside India.” In the instant case the applicant (a resident) contravened the above provision by remitting GBP 85,000 as gift to his parents who were residents. | 8 years and 18 days. | The contravention sought to be compounded is remittance made as gift under the Liberalized Remittance Scheme (LRS) from a person resident in India to another person resident in India which is not permitted under the LRS guidelines. | The applicant, a resident individual, remitted GBP 125,000 (Rs. 88,71,402/-), to the overseas joint foreign currency account of Shri Shyam Sunder Beriwala and Smt. Bimla Devi Beriwala (his grandparents), as a gift, on 19.10.2010, under LRS. However, since the applicant and his grandparents are resident Indians, the transaction was not permitted under LRS | 8,871,402 | 116,536 | |
| 1.727 | M/s Maven Wave Partners (India) Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1435 to 4038 days (ii) 1425 to 4038 days | (i) allotment of shares prior to receipt of share application money (ii) delay in submission of form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India, | The applicant is engaged in building scalable custom designed software applications and to provide technology solutions and technical expertise with custom designed solutions. | (i) 2626600 (ii) 2626600 | 6,650,000 | |
| 1.728 | M/s Sumati legal Services Pvt. Ltd. | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 146 days (ii) 356 to 946 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity shares (ii) delay in submission of form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India, | The applicant company was incorporated on February 01, 2012 under the Companies Act 1956. The applicant engaged in business of providing IT enabled services. | (i) 331100327 (ii) 1519374680 | 112,060 | |
| 1.729 | Ramco Systems Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3 days to 2 years 7 months (ii) 5 months (iii) 1 months to 4 years | (i) delay in reporting the receipt of funds for issue of shares, beyond the stipulated time period (ii) delay in filing of form FCGPR beyond the stipulated time period (iii) delay in reporting issuance of shares under the Employees’ Stock Option Scheme (ESOP) | The applicant company was incorporated as Ramco Systems Limited (CIN L72300TN1997PLC037550), under the Companies Act, 1956, on February 19, 1997. It is engaged in the business of information technology, computer data processing etc. | (i) 115683955 (ii) 109638785 (iii) 22712524 | 415,625 | |
| 1.730 | Vijay P Uttarwar | Apr/2019 | FDI | FEMA 20/2000-RB | Regulation 10A(a) of Notification No.FEMA.20/2000-RB dated May 03, 2000 as amended from time to time, a person resident in India who proposes to transfer to a person resident outside India(not being erstwhile OCB), any security, by way of gift, shall make an application to RBI for its approval. | 2 years | The contravention sought to be compounded is the transfer of shares by way of gift by a resident to non resident without RBI approval. | The applicant is a resident individual and is also a promoter and director of Naturell (India) Pvt Ltd (NIPL). The applicant transferred 2,50,000 equity shares of Re1 each of NIPL as gift to Mr.Mohan Uttarwar, a non resident on March 31, 2016 without RBI approval thereby contravening Regulation 10(A)(a) of FEMA 20. Post facto approval was granted by RBI on March 12, 2018. | 250,000 | 51,375 | |
| 1.731 | Aricent Technologies (Holdings) Limited | Apr/2019 | ODI | FEMA 120/RB-2004 | Contravention of Provision | 3 years 1 months . | The contravention sought to be compounded is making Overseas Direct Investment (ODI) with an already existing Foreign Direct Investment (FDI) structure, which is not permissible | The applicant company is engaged in the business of providing all kinds of information technology based and enabled services in India and abroad. In August 2015 (07.08.2015), the applicant, with an intent to expand its business interests, acquired the shares of Aricent Mauritius Engineering Services PCC (Aricent Mauritius), incorporated in Mauritius, from its existing shareholders. The total amount remitted by the applicant to the existing shareholders for acquiring equity participation of 50.28%, amounted to USD 90,000,000 (Rs. 572,58,60,000/-). However, Aricent Mauritius was already holding investment in Aricent Technologies Private Limited, India (Aricent India) when ODI was made by the applicant. The resultant structure amounted to making ODI in an entity with pre-existing FDI, which is not permitted without the prior approval of RBI. The entire structure has now been unwound (FDI leg on August 18, 2018 and ODI leg on September 11, 2018). | 5,725,860,000 | 37,268,090 | |
| 1.732 | Rashid Ahmad Mirza | Apr/2019 | ODI | FEMA 120/RB-2004 | Contravention of Provision | 1 years 4 days to 1 and a half years . | (i) delay in filing Form ODI with respect to overseas investments made and making overseas direct investment without issuance of Unique Identification Number (UIN) (ii) nonsubmission of Annual Performance Reports (APR) within the stipulated time period | The applicant is a resident Indian, who, along with Ms Yasmin Mirza and Shri Mahboob Rehman, two other resident Indians, formed a wholly owned subsidiary (WOS), namely, Atlas Enterprises FZC, in UAE. The ODI Form – Part I with respect to the abovementioned remittances was submitted by the applicant, Shri Rashid Ahmad Mirza, on 22.09.2017, with a delay beyond the stipulated period, in contravention of Regulation 20A read with paragraph D(3) of Schedule V of Notification No. FEMA 120/2004-RB. The UIN was allotted in 2017. Further, the APRs for the years 2016 and 2017 were submitted on 04.05.2018 and 05.02.2019 respectively, with a delay beyond the stipulated period, in contravention of Regulation 20A read with paragraph D(1) of Schedule V further read with Regulation 15(iii) of Notification No. FEMA 120/2004-RB. | 16,092,354 | 158,508 | |
| 1.733 | Yasmin Mirza | Apr/2019 | ODI | FEMA 120/RB-2004 | Contravention of Provision | 1 years 4 days to 1 and a half years . | (i) delay in filing Form ODI with respect to overseas investments made and making overseas direct investment without issuance of Unique Identification Number (UIN) (ii) nonsubmission of Annual Performance Reports (APR) within the stipulated time period | The applicant is a resident Indian, who, along with Ms Yasmin Mirza and Shri Mahboob Rehman, two other resident Indians, formed a wholly owned subsidiary (WOS), namely, Atlas Enterprises FZC, in UAE. The ODI Form – Part I with respect to the abovementioned remittances was submitted by the applicant, Ms. Yasmin Mirza, on 22.09.2017, with a delay beyond the stipulated period, in contravention of Regulation 20A read with paragraph D(3) of Schedule V of Notification No. FEMA 120/2004-RB. The UIN was allotted in 2017. Further, the APRs for the years 2016 and 2017 were submitted on 04.05.2018 and 05.02.2019 respectively, with a delay beyond the stipulated period, in contravention of Regulation 20A read with paragraph D(1) of Schedule V further read with Regulation 15(iii) of Notification No. FEMA 120/2004-RB. Any one of the three individuals could file the APRs within the stipulated time period. However, the compounding amount with respect to this contravention has been imposed in the Compounding Order issued with respect to Shri Rashid Ahmad Mirza, who has the largest percentage shareholding in the WOS, among the three individuals. | 16,092,354 | 158,508 | |
| 1.734 | Mahboob Rehman | Apr/2019 | ODI | FEMA 120/RB-2004 | Contravention of Provision | 1 years 4 days to 1 and a half years . | (i) delay in filing Form ODI with respect to overseas investments made and making overseas direct investment without issuance of Unique Identification Number (UIN) (ii) nonsubmission of Annual Performance Reports (APR) within the stipulated time period | The applicant is a resident Indian, who, along with Ms Yasmin Mirza and Shri Mahboob Rehman, two other resident Indians, formed a wholly owned subsidiary (WOS), namely, Atlas Enterprises FZC, in UAE. The ODI Form – Part I with respect to the abovementioned remittances was submitted by the applicant, Shri Mahboob Rehman, on 22.09.2017, with a delay beyond the stipulated period, in contravention of Regulation 20A read with paragraph D(3) of Schedule V of Notification No. FEMA 120/2004-RB. The UIN was allotted in 2017. Further, the APRs for the years 2016 and 2017 were submitted on 04.05.2018 and 05.02.2019 respectively, with a delay beyond the stipulated period, in contravention of Regulation 20A read with paragraph D(1) of Schedule V further read with Regulation 15(iii) of Notification No. FEMA 120/2004-RB. Any one of the individuals could file the APRs within the stipulated time period. However, the compounding amount with respect to this contravention has been imposed in the Compounding Order issued with respect to Shri Rashid Ahmad Mirza, who has the largest percentage shareholding in the WOS, among the three individuals. | 16,092,354 | 158,508 | |
| 1.735 | Ramasubramanian Balasubramanian | Apr/2019 | FDI | FEMA 20/2000-RB | According to Regulation 9(2)(ii) of Notification No.FEMA.20/2000-RB dated May 03, 2000 as amended from time to time, “A person resident outside India, not being a Non-resident Indian or an overseas corporate body, may transfer by way of sale or gift the [shares or convertible debentures or warrants of an Indian company or units of an Investment Vehicle] held by him or it to any person resident outside India.” | 2 years and 4 months | The contravention sought to be compounded is the transfer of shares from NRI to NR without RBI approval. | The applicant is an NRI and is also a promoter / director of an Indian Company viz.IBIZ Consulting Services India Pvt Ltd incorporated on December 17, 2008. The applicant transferred 40000 shares held by him in the Indian Company to IBIZCS Group Pte Ltd, Singapore (a non-resident entity) for a consideration of INR 4,00,000 on July 9, 2015. Transfer of shares by an NRI to NR was not a permitted transaction under automatic route during the said period. Hence, the applicant contravened Regulation 9(2)(ii) read with Regulation 3 of FEMA 20 | 400,000 | 52,400 | |
| 1.736 | Kiran Energy Solar Power Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 months to 2 months (ii) 3 days to 5 months | (i) delay in reporting the receipt of inward remittance beyond the stipulated time period (ii) delay in reporting of downstream investment to the designated agencies beyond 30 days of such investment | The applicant company was incorporated as Kiran Energy Solar Private Limited is engaged in the business of developing solar projects in India. | (i) 12140286 (ii) 2025800110 | 139,792 | |
| 1.737 | M/s. Royal Fort Resorts Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 39 days to 58 days (ii) 5 days to 16 days | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of form FCGPR on allotment of shares with Reserve | The applicant was incorporated on April 11, 2008 under the provisions of the Companies Act, 1956 and is engaged in the business of Hotel & Tourism. | (i) 684062914 (ii) 2119172000 | 26,375 | |
| 1.738 | M/s. Y-Tec India Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 days to 27 days (ii) 5 days to 27 days | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of form FCGPR on allotment of shares with Reserve | The applicant was incorporated on September 13, 2011 under the provisions of the Companies Act, 1956 and is engaged in the business of Manufacture of other transport equipments n.e.c. such as pushcarts, handcarts etc. | (i) 44000000000 (ii) 98000000000 | 84,000 | |
| 1.739 | M/s MMD Heavy Machinery (India) Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 10 days to 3 years 3 months 9 days (ii) 2 days to 6 months 14 days | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of form FCGPR on allotment of shares with Reserve | The applicant is a resident company incorporated as Private Limited Company under the Companies Act, 1956. The company is engaged in manufacture of parts and accessories for machinery/equipment used by Construction and Mining Industries. | (i) 281730000 (ii) 391389990 | 257,080 | |
| 1.740 | M/s PIPIP E-Services Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 27 days to 1 months 2 days . (ii) 1 months 2 days to 6 months 4 days . (iii) 7 months 3 days to 2 years 7 months 3 days . | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of form FCGPR on allotment of shares with Reserve (iii) delay in filing of FLA returns | The company is engaged in other land transport services n.e.c. | (i) 26000000 (ii) 26000000 | 104,000 | |
| 1.741 | M/s. Ratna Natural Stones Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 11 days to 10 years 1 months 2 days (ii) 3 months 14 days to 3 years 4 months 4 days . (iii) 6 years 7 months 11 days to 10 years 7 days . (iv) 2 months 7 days to 2 months 12 days . (v) 8 months 4 days to 11 years 8 months 19 days . | (i) delay in reporting of receipt of foreign inward remittances towards subscription of equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India (iii) delay in allotment of shares to a person resident outside India (iv) delay in receipt of consideration after allotment of shares to a person resident outside India (v) delay in filing the annual return in respect of the Foreign Liabilities and Assets | The company is engaged in the business of “Quarrying of Granite”. | (i) 57938908 (ii) 46845990 (iii) 23730964 (iv) 700000 | 766,743 | |
| 1.742 | M/s Dongfang Electronics Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 21 days to 3 months 14 days (ii) 11 months 4 days to 1 years 9 months 24 days . (iii) 8 months 11 days to 6 years 8 months 11 days . | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of form FCGPR on allotment of shares with Reserve (iii) delay in filing of FLA returns | The company is engaged in the business of manufacturing of other electronic components. | (i) 25281465 (ii) 25413250 | 151,080 | |
| 1.743 | M/s Icredizen Financial Technologies Pvt Ltd | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 4 days (ii) 1 days . (iii) 1 years 1 months 11 days to 2 years 8 months 25 days | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of form FCGPR on allotment of shares with Reserve (iii) taking on record of transfer of shares from resident to nonresident without certified form FCTRS from AD Bank | The company is engaged in the business of Activities auxiliary to financial service activities n.e.c. | (i) 15058800 (ii) 4819500 (iii) 3280920 | 48,135 | |
| 1.744 | M/s. NTC Softech India Pvt Ltd | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 20 days (ii) 3 months 7 days . (iii) 8 months 9 days to 3 years 8 months 9 days | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of form FCGPR on allotment of shares with Reserve (iii) delay in filing of FLA returns | The company is engaged in Writing, modifying, testing of computer program to meet the needs of a particular client excluding web-page designing. | (i) 1431430 (ii) 1431360 | 61,025 | |
| 1.745 | M/s. Arjas Steel Pvt Ltd | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3 days to 5 months 4 days (ii) 1 days to 1 years 11 months 20 days (iii) 4 years 1 months 1 days | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of form FCGPR on allotment of shares with Reserve (iii) delay in refund of share application money to the foreign investor beyond 180 days from the date receipt of foreign inward remittance | The company is engaged in the business of manufacturing pig iron and spiegeleisen pigs, blocks or other primary forms, steel in ingots or other primary forms, other semi-finished products of steel, hot rolled and cold rolled products of steel. | (i) 331820887798 (ii) 987847748600 (iii) 812800 | 642,325 | |
| 1.746 | M/s Alexandria Equities Management (India) Pvt Ltd | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 days to 1 years 1 months 18 days . (ii) 3 months to 8 months 1 days (iii) 10 days . | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of form FCGPR on allotment of shares with Reserve (iii) delay in refund of share application money to the foreign investor beyond 180 days from the date receipt of foreign inward remittance | The company is engaged in management consultancy activities. | (i) 4951999928 (ii) 32804900 (iii) 17620000 | 208,985 | |
| 1.747 | M/s Peel Technologies (India) Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 6 months 14 days (ii) 1 years 7 months 16 days to 2 years 10 days . (iii) 1 months 6 days | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of form FCGPR on allotment of shares with Reserve (iii) taking on record of transfer of shares from resident to nonresident without certified form FCTRS from AD Bank | The company is engaged in information technology and computer service activities. | (i) 3918113 (ii) 3918110 (iii) 99900 | 27,956 | |
| 1.748 | M/s. Cargo Exchange India Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 25 days to 3 months 25 days (ii) 2 months 27 days to 3 months 26 days . | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of form FCGPR on allotment of shares with Reserve | The company is engaged in the business of “Cargo handling incidental to land transport”. | (i) 16499150 (ii) 16499022 | 38,150 | |
| 1.749 | M/s. Auviz Systems India Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 4 years 5 months 8 days (ii) 4 years 2 months 22 days . (iii) 7 months 25 days to 4 years 7 months 25 days ately | (i) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India \(ii) delay in receipt of consideration after allotment of shares to a person resident outside India (iii) delay in filing the Annual Return in respect of the Foreign Liabilities and Assets (FLA Return) | The company is engaged in the business of “Other information service activities n.e.c”. | (i) 99990 (ii) 99990 | 95,000 | |
| 1.750 | Shri. Anantha Sagar Potluru | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 years 10 months 8 days | The contravention sought to be compounded is, delay in reporting the transfer of shares in form FCTRS beyond the stipulated time period | The applicant is a resident shareholder of M/s. IntegraDelivers India Private Limited of the company. The applicant received an inward remittance of INR 97,069.75 from M/s. Integra Mortgage Solutions LLC, Albuquerque (purchaser), on March 03, 2017 for transfer of 9400 equity shares to the purchaser by the applicant. Pursuant to the remittance, the form FC-TRS filed by the applicant is not certified by the Authorized Dealer due to certain discrepancies in the submission of documents and the applicant continues to remain the legal owner of 9400 shares as on date. | 9,706,975 | 9,029 | |
| 1.751 | M/s. Shepherd Tech Consultancy Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 11 months 2 days to 11 months 3 days (ii) 4 years (iii) 4 months 5 days to 3 years 9 months 17 days (iv) 1 months 28 days to 2 months 2 days | (i) delay in reporting of receipt of foreign inward remittances towards subscription of equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India (iii) delay in receipt of consideration after allotment of shares to a person resident outside India (iv) delay in filing the Annual Return in respect of the Foreign Liabilities and Assets (FLA Return), | The company is engaged in the business of “Other information service activities n.e.c.”. | (i) 35030048 (ii) 350000 (iii) 350000 | 77,080 | |
| 1.752 | M/s Divadragon Designs Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 19 days to 11 years 5 months 21 days (ii) 2 months 26 days to 11 years 5 months 21 days. (iii) 4 years 5 months 18 days to 11 years 6 months 18 days | (i) delay in reporting of receipt of funds for issue of shares, beyond the stipulated time period (ii) delay in filing of form FCGPR beyond the stipulated time period (iii) delay in allotment of shares issued after the receipt of inward remittance beyond the stipulated time period, | The applicant is a company registered as a private limited company with the main object of undertaking the business of consultancy and interior designing | (i) 4859623 (ii) 3427500 (iii) 1432080 | 96,278 | |
| 1.753 | M/s Goadoctors Alliance Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 months 27 days to 3 months 7 days (ii) 1 years 4 months 11 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant is a company registered as a private limited company with the main object of undertaking the business of hospital activities | (i) 2195000 (ii) 2194900 | 24,792 | |
| 1.754 | M/s. Samraj Marketing and Services Pvt Ltd. | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 10 years 9 months 14 days (ii) 11 years 2 months 22 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company is engaged in the business of manufacturing of moulded industrial accessories of plastics. | (i) 40000000 (ii) 222195987 | 90,827 | |
| 1.755 | M/s. Brics Renewable Energy Pvt Ltd. | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 months 10 days to 1 months 13 days (ii) 1 years 1 months 5 days (iii) 27 days | (i) delay in reporting of receipt of funds for issue of shares, beyond the stipulated time period (ii) delay in filing of form FCGPR beyond the stipulated time period (iii) delay in allotment of shares issued after the receipt of inward remittance beyond the stipulated time period, | The applicant company is engaged in the business of electric power generation using solar energy. | (i)11332200 (ii) 5400000 (iii) 5932200 | 13,914 | |
| 1.756 | M/s. Skilworth Technologies Pvt Ltd. | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 months 21 days to 3 months 11 days (ii) 2 months 21 days | (i) delay in submission of Form FCGPR on allotment of shares with Reserve Bank (ii) delay in refund of excess inward remittance received | The applicant company is engaged in the business of providing software support and maintenance to its clients. | (i) 16003537100 (ii) 5000000 | 56,650 | |
| 1.757 | M/s.SVL Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 2 years 3 months 6 days | The contravention sought to be compounded is delay in reporting the transfer of shares from resident to nonresident i.e., delay in submission of FCTRS | The applicant sold 374429 equity shares of ₹10/- each at a negotiated price of ₹31.83/- to the Non-Resident shareholder Shri Ashref Hashim, USA. The onus of submission of the form FC-TRS within the given timeframe would be on the transferor / transferee, resident in India. | 1,191,807,507 | 126,500 | |
| 1.758 | M/s. Excess Renew Tech Pvt Ltd. | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3 years 11 months 10 days to 4 years 22 days (ii) 4 months 16 days to 4 years 4 months 13 days ; | (i) delay in submission of Form FCGPR on allotment of shares with Reserve Bank (ii) delay in refund of excess inward remittance received | The applicant company is engaged in the business of manufacturing of electricity distribution and control apparatus. | (i) 250000000 (ii) 420000000 | 56,180 | |
| 1.759 | M/s. Thors India Pvt Ltd. | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 8 days to 3 years 4 months 26 days (ii) 1 years 22 days to 1 years 2 months (iii) 1 years 7 months 24 days to 1 years 10 months 7 days | (i) delay in reporting of receipt of funds for issue of shares, beyond the stipulated time period (ii) delay in filing of form FCGPR beyond the stipulated time period (iii) delay in allotment of shares issued after the receipt of inward remittance beyond the stipulated time period, | The applicant company is engaged in educational support services. | (i) 591758138 (ii) 435130000 (iii) 309837666 | 92,355 | |
| 1.760 | M/s. Comodo Certauth India Services Pvt Ltd. | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 3 months 3 days | The contravention sought to be compounded is delay in refund of receipt of consideration in terms of Paragraph 2(3) of Schedule I to Foreign Exchange Management | The applicant company is engaged in the business of information technology and computer service activities n.e.c. | 9,897,432 | 99,487 | |
| 1.761 | M/s. PKT Indev Global Logistics Pvt Ltd. | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 months 10 days (ii) 1 years 4 months 20 days | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR to Reserve Bank on allotment of shares | The applicant company is engaged in the business of storage and warehousing n.e.c. | (i) 40000000 (ii) 40000000 | 21,590 | |
| 1.762 | M/s. BCT Digital Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 11 months 10 days to 1 years 1 months 11 days | The contravention sought to be compounded is delay in refund of receipt of consideration in terms of Paragraph 2(3) of Schedule I to Foreign Exchange Management | The applicant company is engaged in the business of data processing, software development and computer consultancy services. | 129,597 | 50,693 | |
| 1.763 | Chintan Patel | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 514 days | The contravention sought to be compounded is delay in reporting of transfer of shares from resident to nonresident beyond stipulated period of 60 days; | The applicant has received one foreign inward remittance amounting to ₹50,000/- from non-resident investor Collabera INC., USA towards transfer of equity shares of Collabera Services Pvt. Ltd., Vadodara. The applicant reported the transfer of shares from resident to non-resident to its Authorised Dealer bank with a delay of 514 days beyond the prescribed period of 60 days from the date of receipt of consideration | 50,000 | 3,550 | |
| 1.764 | Vinay Verma | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 514 days | The contravention sought to be compounded is delay in reporting of transfer of shares from resident to nonresident beyond stipulated period of 60 days; | The applicant has received one foreign inward remittance amounting to ₹50,000/- from non-resident investor Collabera INC., USA towards transfer of equity shares of Collabera Services Pvt. Ltd., Vadodara. The applicant reported the transfer of shares in Form FC-TRS from resident to non-resident to its Authorised Dealer bank with a delay of 514 days beyond the prescribed period of 60 days from the date of receipt of consideration | 50,000 | 3,550 | |
| 1.765 | M/s Bengal Port Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 4144 days | The contraventions sought to be compounded is for delay in submission to the Reserve Bank of Form FCGPR after issue of shares to a person resident outside India beyond the stipulated 30 days | The applicant is in the business of Cargo handling incidental to water | 2,999,999,993 | 589,167 | |
| 1.766 | M/s SpadeWorx Software Services Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 0Y 2M 9D (ii) 0Y 0M 26D | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPR to Reserve Bank of India after issue of shares towards subscription to equity | Its main activities are to deal in computer software and hardware and establish computer training centers | (i) 10975000 (ii) 10975000 | 36,667 | |
| 1.767 | M/s Indiafirst Life Insurance Company Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 0Y0M2D to 9Y 0M 27D (ii) 0Y 0M 3D | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPR to Reserve Bank of India after issue of shares towards subscription to equity | Its main activities is to provide Life Insurance Services | (i) 2925000000 (ii) 336700000 | 3,603,333 | |
| 1.768 | M/s Ambitech Engineering India Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 3Y 3M 10D to 3Y 4M 0D (ii) 2Y 10M 14D | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPR to Reserve Bank of India after issue of shares towards subscription to equity | Its main activities are Architectural and engineering activities and related technical consultancy | (i) 100000 (ii) 100000 | 32,500 | |
| 1.769 | M/s Rondo Metal Systems Private Limited | Apr/2019 | FDI | FEMA 20(R)/2017-RB | Delay in Reporting | Financialyears2009-10, 2010-11, 2011-12, 2012-13, 2013-14, 2014-15, 2015-16, 2016-17 and 2017-18. | Delay in filing ‘Annual Return on Foreign Liabilities and Assets’ (FLA Returns) | Manufacture of other structural metal products. Maunfacture of steel parts in cold process which involves bending, profiling and shearing operations and further provide complete system with design engineering and installation of ceiling system drywall steel studsystemplaster and render finishing sections and access panels. NIC-25119 | NIL | 90,000 | |
| 1.770 | M/s Julong Office Automation Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 0Y 5M 1D to 0Y 5M 16D (ii) 1Y 3M 5D | (i) Delay in filing Form FCGPR to Reserve Bank after issue of shares to person resident outside India (ii) Taking on record by the applicant, the transfer of shares from a person resident outside India to a person resident in India or the transfer of shares from a person resident in India to a person resident outside India, without obtaining certified copies of form FCTRS | Wholesale of machinery, equipment and supplies including computer controlled machine tools and computer controlled sewing and knitting machines. | (i) 9900000 (ii) 100000 | 25,333 | |
| 1.771 | M/s Rohan Buildcon Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | 1Y 0M 15D to 1Y 1M 13D | delay in filing form FCTRS | Its main activities are Construction and Real Estate Activities | 124,873 | 14,000 | |
| 1.772 | M/s Instamojo Technologies Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB & FEMA 20(R)/2017-RB | Delay in Reporting | (i) 0Y 2M 26D to 0Y 7M 12D (ii) 0Y 0M 27D to 0Y 11M 10D (iii) Financial years 2014-15 and 2017-18. | (i) delay in reporting of receipt of foreign inward remittances towards subscription of equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India (iii) delay in filing the Annual Return in respect of the Foreign Liabilities and Assets (FLA Return) | Its main activities are Data processing, hosting and related activities n.e.c. | (i) 90523701 (ii) 46012129 | 194,250 | |
| 1.773 | M/s Albacore Accounting Services Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 0Y 2M 24D to 0Y 6M 22D (ii) 0Y 11M 12D to 1Y 3M 10D | (i) delay in reporting of receipt of foreign inward remittances towards subscription of equity (ii) Neither the equity instruments were issued, nor the money refunded to the foreign invest or within 180 days from the receipt of the inward remittance | Data Processing Services | (i) 19038294 (ii) 125703 | 50,702 | |
| 1.774 | M/s Shoei-Executive Crew Management Private Limited | Apr/2019 | FDI | FEMA 20(R)/2017-RB | Delay in Reporting | 0Y 1M 17D to 0Y 1M 28D | Neither the equity instruments were issued, nor the money refunded to the foreign investor within 60days/75days (as applicable) from the receipt of the inward remittance | To carry on the business of Ship Management, shipping crew management, recruitment of seafarers and all ancillary activities related to recruitment including training, orientation and allied activities. | 100,000 | 50,625 | |
| 1.775 | M/s Carlyle India Advisors Private Limited | Apr/2019 | FDI | FEMA 20(R)/2017-RB | Delay in Reporting | Financialyears2006-07,2007-08,2008-09,2009-10,2010-11, 2011-12, 2012-13, 2013-14, 2014-15, 2015-16 and 2016-17. | Delay in filing ‘Annual Return on Foreign Liabilities and Assets’ (FLA Returns) | Management consultancy activities | NIL | 110,000 | |
| 1.776 | M/s Sigma Electric Manufacturing Corporation Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | 0Y 1M 25D | The contravention sought to be compounded is delay in submission of Form FCGPR to Reserve Bank of India | manufacture of other electrical equipmentNIC Code: 27900 | 2,122,792 | 26,667 | |
| 1.777 | M/s Milano Luxury Garments Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 0Y 0M 26D (ii) 0Y 2M 5D | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPR to Reserve Bank of India after issue of shares towards subscription to equity | Trading in Textile Garment Items | (i) 499990 (ii) 499990 | 20,667 | |
| 1.778 | M/s Enso Care (Maharashtra) Private Limited | Apr/2019 | FDI | FEMA 20/2000-RB & FEMA 20(R)/2017-RB | Delay in Reporting | (i) 0Y 2M 8D (ii) 4Y 0M 9D to 4Y 4M 13D | (i) delay in submission of Form FCGPR to Reserve Bank of India after issue of shares towards subscription to equity (ii) Neither the equity instruments were issued, nor the money refunded to the foreigninvestorwithin180daysfromthereceiptoftheinwardremittance | Healthcare Diagnostic Services. | (i) 122922450 (ii) 122922500 | 1,462,878 | |
| 1.779 | Transsion India Pvt. Ltd. | May/2019 | FDI | FEMA 20/2000-RB | Delay in filing form FC-GPR | 19 days to 1 months and 11 days | Delay in filing form FCGPR after issue of shares | The Applicant is engaged in the business of manufacture of other electronic components n.e.c. The applicant had reported the allotment of shares to its foreign investor with delay ranging from 19 days to 1 month and 11 days beyond the prescribed period. Whereas, in terms of paragraph 9(1)(B) of Schedule 1 to FEMA 20/2000-RB, an Indian company issuing shares or convertible debentures or warrants in accordance with these Regulations shall submit through AD bank to the Regional Office concerned of the Reserve Bank under whose jurisdiction the Registered Office of the company operates, not later than 30 days from the date of issue of shares or convertible debentures or warrants, a report in the form FC-GPR as specified by the Reserve Bank from time to time together with documents prescribed therein | 219,177,090 | 31,200 | |
| 1.780 | Braemar ACM Shipbroking India Pvt. Ltd. | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 12 days (ii) 1 months and 8 days to 7 years, 1 months and 8 days. | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in filing the Annual Return on Foreign Liabilities and Assets (FLAR) | The company is engaged in the business of ship broking and chartering of ships. The applicant received foreign inward remittance and reported the same to RBI with a delay of 12 days in contravention of paragraph 9(1)(A) of Schedule 1 to FEMA 20/2000-RB, as then applicable. Whereas, in terms of paragraph 9(1)(A) of Schedule 1 to FEMA 20/2000-RB, an Indian company issuing shares or convertible debentures in accordance with these Regulations shall submit to Reserve Bank, not later than 30 days from the date of receipt of the amount of consideration, a report indicating the details as prescribed therein. The applicant had filed the Annual Return on Foreign Liabilities and Assets (FLAR) to the Reserve Bank for the financial years 2010-2011 to 2017-2018 on August 23, 2018 with delay ranging from 1 month and 8 days to 7 years, 1 month and 8 days. Whereas in terms of paragraph 9 (2) of Schedule 1 to FEMA 20/2000-RB, all Indian companies which have received Foreign Direct Investment in the previous year(s) including the current year shall submit to the Reserve Bank, on or before the 15th day of July of each year, a report titled ‘Annual Return on Foreign Liabilities and Assets’ as specified by the Reserve Bank from time to time. | (i) 1000000 (ii) 83029 lakh | 90,080 | |
| 1.781 | Agev Holdings Pvt. Ltd. | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 8 months and 24 days to 1 years (ii) 8 months and 25 days to 11 months and 23 days. | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in filing Form FCGPR after issue of shares | The applicant received foreign inward remittance and reported the same to RBI with a delay of 12 days in contravention of paragraph 9(1)(A) of Schedule 1 to FEMA 20/2000-RB, as then applicable. Whereas, in terms of paragraph 9(1)(A) of Schedule 1 to FEMA 20/2000-RB, an Indian company issuing shares or convertible debentures in accordance with these Regulations shall submit to Reserve Bank, not later than 30 days from the date of receipt of the amount of consideration, a report indicating the details as prescribed therein. The applicant had reported the allotment of shares to its foreign investor with delay beyond the prescribed period. in terms of paragraph 9(1)(B) of Schedule 1 to FEMA 20/2000-RB, an Indian company issuing shares or convertible debentures or warrants in accordance with these Regulations shall submit through AD bank to the Regional Office concerned of the Reserve Bank under whose jurisdiction the Registered office of the company operates, not later than 30 days from the date of issue of shares or convertible debentures or warrants, a report in Form FC-GPR as specified by the Reserve Bank from time to time together with documents prescribed therein. | (i) 13800000 (ii) 13800000 | 42,350 | |
| 1.782 | Terra Motors India Pvt. Ltd. | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 13 days. (ii) 1 years and 27 days to 1 years, 8 months and 4 days | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in filing Form FCGPR after issue of shares | The applicant company is engaged in the business of manufacture of three-wheelers and their engine The applicant received foreign inward remittance and reported the same to RBI with a delay in contravention of paragraph 9(1)(A) of Schedule 1 to FEMA 20/2000-RB, as then applicable. Whereas, in terms of paragraph 9(1)(A) of Schedule 1 to FEMA 20/2000-RB, an Indian company issuing shares or convertible debentures in accordance with these Regulations shall submit to Reserve Bank, not later than 30 days from the date of receipt of the amount of consideration, a report indicating the details as prescribed therein. The applicant had reported the allotment of shares to its foreign investor with delay beyond the prescribed period. in terms of paragraph 9(1)(B) of Schedule 1 to FEMA 20/2000-RB, an Indian company issuing shares or convertible debentures or warrants in accordance with these Regulations shall submit through AD bank to the Regional Office concerned of the Reserve Bank under whose jurisdiction the Registered office of the company operates, not later than 30 days from the date of issue of shares or convertible debentures or warrants, a report in Form FC-GPR as specified by the Reserve Bank from time to time together with documents prescribed therein. | (i) 11419909045 (ii) 158887090 | 257,000 | |
| 1.783 | Nutriwel Health (India) Pvt. Ltd. | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 17 days. (ii) 12 days. | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in filing Form FCGPR after issue of shares | The applicant company, is engaged in the business of general medical consultancy aimed at weight loss, enhancement of health and fitness status, general wellbeing and improving the quality of life of individuals. The applicant received foreign inward remittance and reported the same to RBI with a delay in contravention of paragraph 9(1)(A) of Schedule 1 to FEMA 20/2000-RB, as then applicable. Whereas, in terms of paragraph 9(1)(A) of Schedule 1 to FEMA 20/2000-RB, an Indian company issuing shares or convertible debentures in accordance with these Regulations shall submit to Reserve Bank, not later than 30 days from the date of receipt of the amount of consideration, a report indicating the details as prescribed therein. The applicant had reported the allotment of shares to its foreign investor with delay beyond the prescribed period. in terms of paragraph 9(1)(B) of Schedule 1 to FEMA 20/2000-RB, an Indian company issuing shares or convertible debentures or warrants in accordance with these Regulations shall submit through AD bank to the Regional Office concerned of the Reserve Bank under whose jurisdiction the Registered office of the company operates, not later than 30 days from the date of issue of shares or convertible debentures or warrants, a report in Form FC-GPR as specified by the Reserve Bank from time to time together with documents prescribed therein. | (i) 70000000 (ii) 7000000775 | 28,000 | |
| 1.784 | Food Cloud Pvt. Ltd. | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | 27 days each. | (i) delay in reporting foreign inward remittance received for issue of shares | The applicant company, is engaged in the business of event catering. The applicant received foreign inward remittance and reported the same to RBI with a delay in contravention of paragraph 9(1)(A) of Schedule 1 to FEMA 20/2000-RB, as then applicable. Whereas, in terms of paragraph 9(1)(A) of Schedule 1 to FEMA 20/2000-RB, an Indian company issuing shares or convertible debentures in accordance with these Regulations shall submit to Reserve Bank, not later than 30 days from the date of receipt of the amount of consideration, a report indicating the details as prescribed therein | 319,569,925 | 10,280 | |
| 1.785 | Pala Decor Pvt. Ltd. | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | 1 months and 13 days to 4 months and 29 days. | delay in filing Form FCGPR after issue of shares | The applicant company, is engaged in the business of manufacture of other floor coverings n.e.c. The applicant had reported the allotment of shares to its foreign investor with delay beyond the prescribed period. in terms of paragraph 9(1)(B) of Schedule 1 to FEMA 20/2000-RB, an Indian company issuing shares or convertible debentures or warrants in accordance with these Regulations shall submit through AD bank to the Regional Office concerned of the Reserve Bank under whose jurisdiction the Registered office of the company operates, not later than 30 days from the date of issue of shares or convertible debentures or warrants, a report in Form FC-GPR as specified by the Reserve Bank from time to time together with documents prescribed therein. | 35,385,390 | 31,850 | |
| 1.786 | Contec Critical Solutions Pvt. Ltd. | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 2 days. (ii) 1 days and 7 months & 25 days | (i) delay in reporting foreign inward remittance received for issue of shares, (ii) delay in refund of share application money beyond 180 days | The applicant company, is engaged in the business of importing, manufacturing, distribution, supplying and trading all sorts of innovative cleaning products (including cleanroom wipes, dry and pre-saturated wipes, mopping systems, disinfectants) for use in critical environment. The applicant received foreign inward remittance and reported the same to RBI with a delay in contravention of paragraph 9(1)(A) of Schedule 1 to FEMA 20/2000-RB, as then applicable. Whereas, in terms of paragraph 9(1)(A) of Schedule 1 to FEMA 20/2000-RB, an Indian company issuing shares or convertible debentures in accordance with these Regulations shall submit to Reserve Bank, not later than 30 days from the date of receipt of the amount of consideration, a report indicating the details as prescribed therein The applicant had refunded the excess share application money to its foreign investors with delay beyond the prescribed period of 180 days from the date of receipt of foreign inward remittances. Whereas, in terms of paragraph 8 of Schedule 1 to FEMA 20/2000-RB, a company in India issuing shares or convertible debentures or warrants under this Schedule to a person resident outside India shall receive the amount of consideration within 180 days from the date of receipt of the inward remittance. | (i) 292424 (ii) 38097882 | 46,726 | |
| 1.787 | Forme Trading Pvt. Ltd. | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 3 months and 19 days to 4 months and 3 days. (ii) 1 years, 3 months and 19 days | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in filing Form FCGPR after issue of shares | The applicant company is engaged in the business of retail sale of telecommunication equipment. The applicant had reported the remittances received from its foreign investors beyond the prescribed period of 30 days from the date of receipt of the amount of consideration received by Indian company for issue of shares or convertible debentures or warrants The applicant had issued Equity Shares to its foreign investors and reported in Form FC-GPR as specified by the Reserve Bank beyond the prescribed period of 30 days from the date of issue of shares or convertible debentures or warrants in contravention of paragraph 9(1)(B) of Schedule 1 to FEMA 20/2000-RB | (i) 108577 (ii) 108570 | 22,080 | |
| 1.788 | Ubithera Pharma Pvt. Ltd. | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 2 years, 2 months & 16 days and 2 years, 3 months & 9 days. (ii) 3 years, 1 months and 22 days. | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in filing Form FCGPR after issue of shares | The applicant company is engaged in the business of retail sale of telecommunication equipment. The applicant had reported the remittances received from its foreign investors beyond the prescribed period of 30 days from the date of receipt of the amount of consideration received by Indian company for issue of shares or convertible debentures or warrants The applicant had issued Equity Shares to its foreign investors and reported in Form FC-GPR as specified by the Reserve Bank beyond the prescribed period of 30 days from the date of issue of shares or convertible debentures or warrants in contravention of paragraph 9(1)(B) of Schedule 1 to FEMA 20/2000-RB | (i) 100000 (ii) 100000 | 27,750 | |
| 1.789 | Goodvitamin Foods Pvt. Ltd. | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 23 days to 1 years, 3 months and 4 days (ii) 26 days and 1 months &12 days | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in filing Form FCGPR after issue of shares | The applicant company is engaged in manufacturing of other non-alcoholic beverages n.e.c. The applicant had reported the remittances received from its foreign investors beyond the prescribed period of 30 days from the date of receipt of the amount of consideration received by Indian company for issue of shares or convertible debentures or warrants The applicant had issued Equity Shares to its foreign investors and reported in Form FC-GPR as specified by the Reserve Bank beyond the prescribed period of 30 days from the date of issue of shares or convertible debentures or warrants in contravention of paragraph 9(1)(B) of Schedule 1 to FEMA 20/2000-RB | (i) 3347744 (ii) 5345952 | 23,810 | |
| 1.790 | DVS Industries Pvt Ltd. | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 9 years, 3 months & 9 days and 12 years, 9 months & 13 days. (ii) 9 years, 3 months & 21 days and 12 years & 9 months. | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in filing Form FCGPR after issue of shares | The applicant company is engaged in the business of manufacturing and dealing in all kinds of crank shaft for automobiles,tractors and other diesel engines, etc. The applicant had reported the remittances received from its foreign investors beyond the prescribed period of 30 days from the date of receipt of the amount of consideration received by Indian company for issue of shares or convertible debentures or warrants The applicant had issued Equity Shares to its foreign investors and reported in Form FC-GPR as specified by the Reserve Bank beyond the prescribed period of 30 days from the date of issue of shares or convertible debentures or warrants in contravention of paragraph 9(1)(B) of Schedule 1 to FEMA 20/2000-RB | (i) 33487899 (ii) 33488000 | 2,232,000 | |
| 1.791 | Yayue India Pvt. Ltd. | May/2019 | FDI | FEMA 20/2000-RB | Delay in Refund | 17 days. | delay in refund of the amount of consideration against which equity shares were not issued | The applicant company is engaged in the business of packaging activities. The applicant had received inward remittance from its foreign investor towards application money for issue of equity shares. The applicant did not allot shares against the said remittance as the same was in fact a loan remitted wrongly as share application money. The applicant, therefore, sought approval for refund from the Reserve Bank of India through their AD bank on January 9, 2019. Approval for refund was granted on February 6, 2019 and the unutilised share application money was refunded on February 28, 2019, in contravention of paragraph 2(3) of Schedule 1 to FEMA 20(R)/2017-RB, as then applicable. Whereas, in terms of paragraph 2(3) of Schedule 1 to FEMA 20(R)/2017-RB, where capital instruments are not issued within sixty days from the date of receipt of the consideration the same shall be refunded to the person concerned by outward remittance through banking channels or by credit to his NRE/ FCNR(B) accounts, as the case may be, within fifteen days from the date of completion of sixty days | 4,531,533 | 72,658 | |
| 1.792 | Centrax Gas Turbines India Pvt. Ltd. | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 10 days to 6 months and 12 days (ii) 5 days to 7 months and 28 days. | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in filing Form FCGPR after issue of shares | The company was engaged in the business of repair and maintenance of engines and turbines. The applicant had reported the remittances received from its foreign investors beyond the prescribed period of 30 days from the date of receipt of the amount of consideration received by Indian company for issue of shares or convertible debentures or warrants The applicant had issued Equity Shares to its foreign investors and reported in Form FC-GPR as specified by the Reserve Bank beyond the prescribed period of 30 days from the date of issue of shares or convertible debentures or warrants in contravention of paragraph 9(1)(B) of Schedule 1 to FEMA 20/2000-RB | (i) 212158036 (ii) 1100000 | 23,150 | |
| 1.793 | MCI Gets India Pvt. Ltd. | May/2019 | FDI | FEMA 20/2000-RB | Delay in Refund | 5 months. | delay in refund of the amount of consideration against which equity shares were not issued | The applicant company was incorporated on July 11, 2017 and is engaged in the business of tour and travel agents and consultants for developments and promotion of tourism The applicant had received inward remittance from its foreign investor towards application money for issue of equity shares. The applicant did not allot shares against the said remittance as the same was in fact a loan remitted wrongly as share application money. The applicant, therefore, sought approval for refund from the Reserve Bank of India through their AD bank. Approval for refund was granted and the unutilised share application money was refunded beyond the prescribed period, in contravention of paragraph 2(3) of Schedule 1 to FEMA 20(R)/2017-RB, as then applicable. Whereas, in terms of paragraph 2(3) of Schedule 1 to FEMA 20(R)/2017-RB, where capital instruments are not issued within sixty days from the date of receipt of the consideration the same shall be refunded to the person concerned by outward remittance through banking channels or by credit to his NRE/ FCNR(B) accounts, as the case may be, within fifteen days from the date of completion of sixty days | 14,453,975 | 50,723 | |
| 1.794 | Karandeep Singh | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | 4 years 7 months and 23 days | delay in submission form FCTRS | The applicant (Indian Resident) transferred 75,000 equity shares and the remittance was received but however form FCTRS was not filed within 60 days as per the timelines prescribed under the applicable FEMA Regulations. | 3,111 | 21,667 | |
| 1.795 | Coincept Accounting Solutions Private Limited | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | 1 months 26 days to 2 months 5 days | delay in submission form FCTRS | The applicant (Indian Resident) transferred 22500 equity shares and the remittance was received but however form FCTRS was not filed within 60 days as per the timelines prescribed under the applicable FEMA Regulations. | 225,518 | 10,417 | |
| 1.796 | United Shippers Limited | May/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 years 9months and 3 days | delay in submission form FCTRS | The applicant acquired the equity shares and reported in form FCTRS beyond the prescribed period of 60 days as per the timelines prescribed under the applicable FEMA Regulations. | 10,000,000 | 32,917 | |
| 1.797 | Arjav Diamonds (India) Private Limited | May/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2D to 0Y 4M 26D (ii) 1M 8D to 0Y 4M 4D | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant, an Indian Resident Received foreign inward remittances from non resident investors towards equity shares /compulsorily convertible preference shares/ compulsorily convertible debentures and it reported the same to the Reserve Bank beyond the prescribed period of 30 days. The Company allotted equity shares/compulsorily convertible preference shares/compulsorily convertible debentures and filed FC-GPRs beyond the prescribed period of 30 days from the date of issue of shares to Non-Residents as per the timelines prescribed under the applicable FEMA Regulations. | (i) 1520241208 (ii) 2101540000 | 290,833 | |
| 1.798 | Galaxy Sivtek Private Limited | May/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2D to 2Y 3M 24D (ii) 2M 25D to 0Y 6M 20D | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant, an Indian Resident Received foreign inward remittances from non resident investors towards equity shares /compulsorily convertible preference shares/ compulsorily convertible debentures and it reported the same to the Reserve Bank beyond the prescribed period of 30 days. The Company allotted equity shares/compulsorily convertible preference shares/compulsorily convertible debentures and filed FC-GPRs beyond the prescribed period of 30 days from the date of issue of shares to Non-Residents as per the timelines prescribed under the applicable FEMA Regulations. | (i) 63880840 (ii) 38792230 | 230,875 | |
| 1.799 | Empee Equipments Private Limited | May/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3M 2D to 0Y 8M 23D (ii) 10D to 3Y 5M 25D | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant, an Indian Resident Received foreign inward remittances from non resident investors towards equity shares /compulsorily convertible preference shares/ compulsorily convertible debentures and it reported the same to the Reserve Bank beyond the prescribed period of 30 days. The Company allotted equity shares/compulsorily convertible preference shares/compulsorily convertible debentures and filed FC-GPRs beyond the prescribed period of 30 days from the date of issue of shares to Non-Residents as per the timelines prescribed under the applicable FEMA Regulations. | (i) 80615240 (ii) 123248220 | 341,667 | |
| 1.800 | UBM India Private Limited | May/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 6D to 0Y 2M 5D (ii) 11M 14D to 10Y 1M 5D | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant, an Indian Resident Received foreign inward remittances from non resident investors towards equity shares /compulsorily convertible preference shares/ compulsorily convertible debentures and it reported the same to the Reserve Bank beyond the prescribed period of 30 days. The Company allotted equity shares/compulsorily convertible preference shares/compulsorily convertible debentures and filed FC-GPRs beyond the prescribed period of 30 days from the date of issue of shares to Non-Residents as per the timelines prescribed under the applicable FEMA Regulations. | (i) 245651067 (ii) 55650000 | 599,417 | |
| 1.801 | Nanosniff Technologies Private Limited | May/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1Y 7M 10D to 1Y 8M 6D (ii) 1Y 9M 19D | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant, an Indian Resident Received foreign inward remittances from non resident investors towards equity shares /compulsorily convertible preference shares/ compulsorily convertible debentures and it reported the same to the Reserve Bank beyond the prescribed period of 30 days. The Company allotted equity shares/compulsorily convertible preference shares/compulsorily convertible debentures and filed FC-GPRs beyond the prescribed period of 30 days from the date of issue of shares to Non-Residents as per the timelines prescribed under the applicable FEMA Regulations. | (i) 3000000 (ii) 3000000 | 34,667 | |
| 1.802 | Global Payex Private Limited | May/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 6Y 9M 14D (ii) 2Y 1M 4D (iii) 4Y 3M 9D | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) Delay in filing Form FCGPR to Reserve Bank after issue of shares to person resident outside India (iii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the inward remittance (iv) Delay in filing Annual Return on Foreign Liabilities and Assets’ (FLA Returns). | The applicant, an Indian Resident Received foreign inward remittances from non resident investors towards equity shares /compulsorily convertible preference shares/ compulsorily convertible debentures and it reported the same to the Reserve Bank beyond the prescribed period of 30 days. The Company allotted equity shares/compulsorily convertible preference shares/compulsorily convertible debentures and filed FC-GPRs beyond the prescribed period of 30 days from the date of issue of shares to Non-Residents as per the timelines prescribed under the applicable FEMA Regulations. The company delayed in filing Annual Return on Foreign liabilities and assets (FLA Return) to the RBI for FY 2011-12 to 2016-17 | (i) 11095000 (ii) 11095000 (iii) 11095000 | 629,344 | |
| 1.803 | Helical Auto Technology India Private Limited | May/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1Y 5M 25D to 10Y 0M 29D (ii) 1Y 4M 3D to 9Y 5M 23D | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant, an Indian Resident Received foreign inward remittances from non resident investors towards equity shares /compulsorily convertible preference shares/ compulsorily convertible debentures and it reported the same to the Reserve Bank beyond the prescribed period of 30 days. The Company allotted equity shares/compulsorily convertible preference shares/compulsorily convertible debentures and filed FC-GPRs beyond the prescribed period of 30 days from the date of issue of shares to Non-Residents as per the timelines prescribed under the applicable FEMA Regulations. | (i) 42314887 (ii) 42303950 | 871,667 | |
| 1.804 | MSL Driveline Systems Limited | May/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) - (ii) 7D to 13Y 9M 30D | (i) Delay in filing‘ Annual Return on Foreign Liabilities and Assets’ (FLA Returns) (ii) Taking on record by the applicant, the transfer of shares from a person resident outside India to a person resident in India or the transfer of shares from a person resident in India to a person resident outside India, without obtaining certifies copies of form FCTRS | The company delayed in filing Annual Return on Foreign liabilities and assets (FLA Return) to the RBI for FY 2006-07 to 2016-17 The shares of the company were transferred by Non-Resident to Resident and/or by Resident. The company took on record the transfer of shares without obtaining certified copies of Form FC TRS from AD Bank | (i) (ii) 227981119 | 814,167 | |
| 1.805 | Thyssenkrupp Industrial Solutions (India) Private Limited | May/2019 | FDI | FEMA 20/2000-RB | Delay in Filing | Financial Years 2006-07, 2007-08, 2008-09, 2009-10, 2010-11, 2011-12, 2012-13, 2013-14, 2014-15, 2015-16 and 2016-17. | Delay in filing‘ Annual Return on Foreign Liabilities and Assets (FLA Returns). | The company delayed in filing Annual Return on Foreign liabilities and assets (FLA Return) to the RBI for FY 2006-07 to 2016-17 Whereas, in terms of Para 9(2) of FEMA 20 , all Indian companies which have received Foreign Direct Investment in the previous years including the current year, shall submit to the Reserve Bank of India, on or before the due date (as applicable) each year ,are port titled‘ Annual Return on Foreign Liabilities and Assets’ as specified by the Reserve Bank from time to time. | (i) (ii) | 110,000 | |
| 1.806 | D S Smith Products & Services India Private Limited | May/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 27D to 2Y 4M 12D (ii) 10Y 0M 24D to 10Y 8M 24D | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the inward remittance (iii) Delay in filing‘ Annual Return on Foreign Liabilities and Assets (FLA Returns). | The applicant, an Indian Resident Received foreign inward remittances from non resident investors towards equity shares /compulsorily convertible preference shares/ compulsorily convertible debentures and it reported the same to the Reserve Bank beyond the prescribed period of 30 days. In respect of remittances amounting to Rs.16,965,250 the company allotted the shares/ refunded the amount after 180 days from the date of receipt of funds in contravention to FEMA Regulation. The company delayed in filing Annual Return on Foreign liabilities and assets (FLA Return) to the RBI for FY 2006-07 to 2016-17 | (i) 17536750 (ii) 16965250 | 409,906 | |
| 1.807 | Eastman Power Plant Engineering Co. (P) Ltd. | May/2019 | ECB | FEMA 3/2000-RB | Contravention in Borrowing or Lending in Foreign Exchange norms | (i) (ii) | (i) borrower not eligible to avail ECB (ii) availing ECB from a nonrecognized lender (iii) availing ECB for an enduse that was not permitted (iv) noncompliance with minimum average maturity period guidelines (v) not meeting the reporting requirements. | The applicant Company entered into interest free temporary loan agreement. As part of the agreement, the applicant company received two inward remittances as interest free advance to mobilize manpower and tools for execution of the project. The above transaction was in contravention of Para 1(i) read with Paragraph 4 of schedule I and Paragraph 2 of the Annex to A.P. (DIR Series) Circular No.32 dated November 30, 2015, Paragraph 1(iii), (iv),(v) and (xii) to Schedule I read with Regulation 6(1) of FEMA 3/2000. Paragraph 1(i) of Schedule I to FEMA Notification No. FEMA.3/2000-RB, provides the eligibility criteria for borrowers for availing external commercial borrowings. The Reserve bank has amended the criteria for time to time, by issuing necessary directions through A.P. (DIR Series) Circulars and Master Directions. The applicant was engaged in the activity of sub-contracting, an activity in which ECB was not permitted as per the extant instructions, and hence was not an eligible borrower. Paragraph 1(iii) of Schedule I to FEMA Notification No. FEMA.3/2000-RB, provides that, “the borrowings in foreign currency by way of issue of bonds, floating rate notes or other debt instruments by whatever name called may be made from – (a) International bank or export credit agency or international capital market, or (b) Multilateral financial institutions, namely, IFC, ADB, CDC etc., or (c) Foreign collaborator or foreign equity holder as specified by the Reserve Bank, or (d) Supplier of equipment provided the amount of loan raised does not exceed the total cost of the equipment being supplied by the lender, or (e) Any other eligible entity as prescribed by the Reserve bank in consultation with the Government of India”. The applicant availed ECB from non-resident entity which did not hold any equity in the applicant company and hence non-resident entity was not an eligible lender. Paragraph 1(iv) of Schedule I to FEMA Notification No. FEMA.3/2000-RB provides the end-uses for which ECB is permitted. However, availing ECB for working capital purpose is not a permitted end-use until it is from foreign equity holder. Paragraph 1(v) of Schedule I to FEMA Notification No. FEMA.3/2000-RB, as then applicable, provides that “the maturity of the borrowings in foreign exchange shall not be less than 3 years for the loan of an amount up to USD 20 million or its equivalent”. Paragraph 1 (xii) of Schedule I to FEMA Notification No. FEMA.3/2000-RB states that “The borrower shall adhere to the reporting procedure as specified by the Reserve Bank from time to time”. | (i) (ii) | 72,793 | |
| 1.808 | Eurokids International Private Limited | May/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) (ii) | Delay in filing‘ Annual Return on Foreign Liabilities and Assets (FLA Returns). | The company delayed in filing Annual Return on Foreign liabilities and assets (FLA Return) to the RBI for FY 2013-14, 2014-15, 2015-16, and 2016-17 | (i) (ii) | 40,000 | |
| 1.809 | Firstrand Bank Limited | May/2019 | FDI | FEMA 20/2000-RB | Delay in Filing | 11Y 8M 1D | delay in submission form FCTRS | The applicant acquired the equity shares and reported in form FCTRS beyond the prescribed period of 60 days as per the timelines prescribed under the applicable FEMA Regulations. | 396 | 1,185,000 | |
| 1.810 | Mckinsey & Company India LLP | May/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 years and 2 months to 4 years and 6 months | delay in reporting the receipt of remittances [in Form Foreign Direct Investment – LLP(I)], | Foreign inward remittances received by the applicant LLP as capital contributions, were reported with a delay beyond the stipulated time period of 30 days. Delay in reporting of receipt of FDI by an LLP in Form I, beyond the stipulated time period of 30 days, is in contravention of Regulation 5(9) read with paragraph 7(i) of Schedule 9 of FEMA 20/2000 –RB. | 99,980,000 | 1,035,250 | |
| 1.811 | Prager Matis Global Services LLP | May/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 years and 3 months | delay in reporting the receipt of remittances [in Form Foreign Direct Investment – LLP(I)], | Foreign inward remittances received by the applicant LLP as capital contributions, were reported with a delay beyond the stipulated time period of 30 days. Delay in reporting of receipt of FDI by an LLP in Form I, beyond the stipulated time period of 30 days, is in contravention of Regulation 5(9) read with paragraph 7(i) of Schedule 9 of FEMA 20/2000 –RB. | 99,000 | 6,188 | |
| 1.812 | Richard Olav AA | May/2019 | Section 42-1 of FEMA | Section 42-1 of FEMA, 1999 | Officer also deemed to be deemed to be guilty of the contravention committed when the officer was in charge of the company | 3 years 8 months | contravention of Section 42-1 of FEMA, 1999 which stipulates that ‘Where a person committing a contravention of any of the provisions of this Act or of any rule, direction or order made thereunder is a company, every person who, at the time the contravention was committed, was in charge of, and was | The applicant was the Director of Unitech Wireless (Tamilnadu) Private Limited (hereinafter referred to as ‘company’), which was incorporated on August 10, 2007 under the Indian Companies Act, 1956. The company contravened by delaying reporting of the allotment of shares by the company was in contravention of Regulation 7(1)(c) read with para 9(1)(B) of Schedule 1 of Notification No. FEMA 20/2000-RB further read with Section 6(3)(b) of FEMA, 1999. | 667,838,280 | 37,667 | |
| 1.813 | Constant Design Limited Liability Partnership | May/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 7 months | delay in reporting the receipt of remittances [in Form Foreign Direct Investment – LLP(I)], | Foreign inward remittances received by the applicant LLP as capital contributions, were reported with a delay beyond the stipulated time period of 30 days. Delay in reporting of receipt of FDI by an LLP in Form I, beyond the stipulated time period of 30 days, is in contravention of Regulation 5(9) read with paragraph 7(i) of Schedule 9 of FEMA 20/2000 –RB. | 297,000 | 10,583 | |
| 1.814 | Genpact India Private Limited | May/2019 | FDI | FEMA 20/2000-RB | Payment of deferred consideration for purchase of shares beyong period permitted by RBI | 1 year | Company did not make payment of deferred consideration within the time period permitted by RBI | The applicant company is engaged in the business of research, analysis and data processing. The applicant company, entered a share purchase agreement (SPA) pursuant to which the applicant was to acquire entire shareholding of an Indian company. The applicant company sought approval for payment of deferred consideration for above acquisition which was permitted by RBI upto 24 months from date of SPA. However, Applicant company was unable to make the payment within above date and applied to RBI for granting approval to make payment of deferred consideration beyond period permitted by RBI. The same was approved by RBI subject to filing of compounding application. | 249,125,450 | 1,295,627 | |
| 1.815 | Rajiv Maheshwari | May/2019 | ODI | FEMA 120/RB-2004 | Delay in Reporting | 4 months | Delay in filing ODII within due date of 30 days of remittance abroad | The applicant is a resident individual who set up a wholly owned company by name of Rake Semiconductors Ltd in Hong Kong on June 7, 2017 for trading in semi conductors and allied electronic products. He remitted USD 45,178.38 on September 19, 2017 and USD 1,00,000 on September 21, 2017 under LRS towards equity capital of the overseas entity without submitting Form ODI-I to the concerned Authorised Dealer (AD) bank. It was when the applicant wished to make further remittance and the bank asked for the Unique Identification Number (UIN) that he realised that the ODI Form had to be filed within 30 days of remittance. | 9,350,000 | 96,750 | |
| 1.816 | Laqshya Media Limited | May/2019 | ODI | FEMA 120/RB-2004 | Delay in reporting | (i) 4 months (ii) 8 years and 10 months (iii) 9 years and 7 months (iv) 2 years (v) 1 years (vi) years 2007 to 2013 and 2016 to 2017 (vii) 2 years | (i) breach of the networth limit for total financial commitment under Overseas Direct Investment (ODI) regulations (ii) delay in filing Form ODI with respect to reporting of issuance of guarantee (iii) issuance of openended guarantee (iv) issuance of guarantee on behalf of stepdown subsidiary (SDS) when it was not enabled under the ODI regulations (v) nonreporting of setting up of SDS within the stipulated time period (vi) nonsubmission of Annual Performance Reports (APR) within the stipulated time period (vii) disinvestment with writeoff without prior RBI approval, | The applicant company was incorporated as Laqshya Media Pvt. Ltd. (CIN U74300MH1997PLC105548), under the Companies Act, 1956, on January 31, 1997. It changed its name to Laqshya Media Ltd. (LML) on September 27, 2017. The applicant company is engaged in the business of advertising and content development for all kinds of media. | (i) 1017900000 (ii) 1801525000 (iii) 1801525000 (iv) 1801525000 (v) 118600000 (vi) 270008108 | 12,067,671 | |
| 1.817 | Torrent Pharmaceuticals Ltd | May/2019 | ODI | FEMA 120/RB-2004 | Delay in Reporting | (i) FY 2002 to 2013 (ii) 5 years and 3 months | (i) nonsubmission of Annual Performance Reports (APR) within the stipulated time period (ii) disinvestment with writeoff and without submission of all the APRs | the applicant company invested in an overseas Joint Venture (JV), namely, Charter Therapeutics Ltd., to the extent of GBP 250,000 (INR 1,68,05,000), by way of capitalization of services rendered. In December 2003, the applicant informed RBI about the weak financial position of the overseas JV and its decision to wind up its operations. In July 2010, a liquidator was appointed to conduct winding up of the overseas JV, and the liquidation was taken on record in the meeting dated February 18, 2013. However, APRs for the years 2002 to 2013 were not submitted which was in contravention | (i) - (ii) 16805000 | 296,038 | |
| 1.818 | Microfinish Valves Pvt Ltd | May/2019 | ODI | FEMA 120/RB-2004 | Delay in Reporting | (i) 3 years and 8 months to 7 years and 3 months (ii) years 2012, 2013 and 2015 | (i) delay in receipt of share certificate beyond the stipulated time period of six months (ii) delay in submission of Annual Performance Report | The applicant company incorporated a wholly owned subsidiary (WOS), namely, Microfinish Valves Inc. in United States of America in June 2010. The applicant company made overseas direct investment (ODI), to the extent of USD 1,382,000, in the WOS from June 2010 to April 2013. However, out of the abovementioned investment, share certificates for the ODI related remittances to the extent of USD 1,381,000 were received with a delay beyond the prescribed period of 6 months. applicant company reported APRs for the years 2012, 2013 and 2015 with a delay beyond the stipulated time period | (i) 66541206 (ii) - | 1,740,000 | |
| 1.819 | Aakarshan Real Estate Developers Pvt Ltd | May/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 3 days to 1 years and 3 months | delay in filing of form FCGPR | The applicant company was incorporated as Aakarshan Real Estate Developers Private Limited (CIN 45202GA2009PTC006240), under the Companies Act, 1956, on December 15, 2009. It is engaged in the business of real estate development. | 12,500,000 | 19,542 | |
| 1.820 | Pune Mix Marshal Arts Pvt. Ltd. | May/2019 | FDI | (i) & (ii) FEMA 20/2000-RB (iii) FEMA 20(R)/2017-RB | Delay in Reporting | (i) 194 days (ii) 334 days (iii) - | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity shares (ii) delay beyond 30 days in submission of Form FCGPR (iii) delay in filing of FLA returns | The applicant company was incorporated on January 03, 2017 under the Companies Act 2013. The applicant is engaged in activities of providing sports facilities. | (i) 9971520 (ii) 9971520 (iii) - | 41,083 | |
| 1.821 | Exito gourmet Pvt ltd | May/2019 | FDI | (i) to (iv) FEMA 20/2000-RB (v) FEMA 20(R)/2017-RB | Delay in Reporting | (i) 1481 days to 1821 days (ii) 58 days to 2381 days (iii) 4 days to 40 days (iv) Financial years 2010-11 to 2016-17 (v) FY 2017-18 | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity shares, (ii) delay in submission of Form FCGPR iii) delay in issuance of shares beyond stipulated 180 days (iv) delay in filing of FLA returns (v) delay in filing of FLA returns | The applicant company was incorporated on July 02, 2008 under the Companies Act 1956. The applicant is engaged in manufacturing of milk products like- Cheese mozzarella, Chaddar, Mascarpone, Ricotta etc. | (i) 29803940 (ii) 8393144109 (iii) 1088449004 (iv) - (v) - | 853,981 | |
| 1.822 | Benarsi Dass Gupta | May/2019 | FDI | FEMA 20(R)/2017-RB | Paragraph 2 of Schedule 1 to Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2017 | 211 days | delay in refund of excess amount beyond prescribed limit of 75 days | The applicant is a resident shareholder of M/s. Gunjan Cutting Edge Solutions Private Limited (CIN: U45202HR2006PTC053748) of the company. The applicant received an inward remittance of INR 71,31,496 from Mrs. Neha Aggarwal, USA (purchaser), on May 31, 2018 for transfer of 1,10,000 equity shares to the purchaser by the applicant. The applicant had received foreign inward remittance for transfer of shares. However, the excess amount was refunded with delay | 91,496 | 5,359 | |
| 1.823 | Sheela Gupta | May/2019 | FDI | FEMA 20(R)/2017-RB | Paragraph 2 of Schedule 1 to Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2017 | 211 days | delay in refund of excess amount beyond prescribed limit of 75 days | The applicant is a resident shareholder of M/s. Gunjan Cutting Edge Solutions Private Limited (CIN: U45202HR2006PTC053748) of the company. The applicant received an inward remittance of INR 6,66,695 from Mrs. Neha Aggarwal, USA (purchaser), on May 31, 2018 for transfer of 10,000 equity shares to the purchaser by the applicant. The applicant had received foreign inward remittance for transfer of shares. However, the excess amount was refunded with delay | 26,695 | 156,500 | |
| 1.824 | M/s Acetone Designs Pvt Ltd | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 26 days to 274 days (ii) 137 days to 337days (iii) 3 days | (i) Delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) Delay in submission of form FCGPR on allotment of shares with Reserve Bank (iii) Delay in refund of excess share amount after 180 days from the date of receipt of inflow of funds | The applicant was incorporated on May 28, 2015 under the provisions of the Companies Act, 2013 (Registration Number U72900RJ2015PTC047615) and is engaged in the business of “other information technology and computer service activities n.e.c”. The applicant received foreign inward remittances on various occasions from 2015 to 2018 from (i) Shri Kushal Chand Sacheti, USA and (ii) Adhip Sacheti, Hong Kong towards subscription to equity shares and reported the same to the Reserve Bank of India. | (i) 910915640 (ii) 910000000 (iii) 915640 | 28,154 | |
| 1.825 | Shri. Ravi Shankar Shahi | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | 1 years 6 months to 2 years 1 months 22 days on 2 occaion | delayed the filing of form FCTRS | The applicant, Shri Ravi Shankar Shahi, a resident individual (PAN: DREPS5944D) has acquired 4,616 shares and 19,069 shares from Mr. Jean Pierre Avantario and Ms. Kerstin Roehrig, Foreign Nationals, in M/s Jean Healing Here and Now Private Limted, a company incorporated under the Companies Act, 1956 on December 31, 2002 (CIN: U85199GA2002PTC003173) | 23,685 | 15,920 | |
| 1.826 | M/s Kalina Cafe Private Limited | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 2 years 9 months (ii) 2 years 1 months 11 days | (i) delay in filing of form FCGPR beyond the stipulated time period (ii) delay in receipt of inward remittance against the issue of shares | The applicant is a company registered as a private limited company, incorporated on September 22, 2015 under the Companies Act, 2013 (CIN: U55101GA2015PTC007724) with the main object of undertaking the business of bars and restaurants with bars (NIC code: 56301). | (i) 48860 (ii) 48860 | 17,321 | |
| 1.827 | DSI Archer Pvt. Ltd. | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | 544 days | delay in submission to the Reserve Bank of Form FCGPR | The applicant, M/s DSI Archer Private Limited, was incorporated under Companies Act, 2013, on March 16, 2015. The applicant is in the business of Wholesale of electrical machinery, equipment and supplies, etc. (NIC Code 2008- 46593). The applicant had received foreign inward remittances for subscription to equity shares under the Automatic Route from foreign investors. | 2,930,640 | 13,959 | |
| 1.828 | Abhishek Business Pvt. Ltd | May/2019 | FDI | FEMA 20/2000-RB | (i) Delay in Reporting (ii) contravention of Paragraph 8 to Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 | (i)ARF - 1 days to 2474 days FC-GPR - 132 days to 1606 days (ii) 5 of the cae the company had not allotted hare | (i) delay in submission of both Form ARF and Form FCGPR (ii) delay in share allotment beyond the stipulated 180 days of the receipt of inflow to a person resident outside India | The applicant, M/s Abhishek Business Pvt. Ltd., was incorporated under Companies Act, 1956, on May 28, 1999 and is in the business of Wholesale of plastic materials in primary forms. (NIC Code 2008-46693). | 226,389,268 | 1,443,785 | |
| 1.829 | Argo Tech. India Pvt. Ltd. | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 105 days to 1909 days (ii) 1864 days to 2692 days (iii) 251 days to 503 days | (i) delay in submission Form ARF after receipt of inflow from a person resident outside India (ii) delay in submission Form FCGPR after issue of shares to a person resident outside India (iii) delay in allotment of shares beyond the stipulated 180 days of the receipt of inflow to a person resident outside India | The applicant, M/s Argo Tech India Private Limited, was incorporated under Companies Act, 1956, on July 30, 2010 and is in the business of wholesale of plastic materials in primary forms (NIC Code 2008-46693). | (i) (ii) & (iii) - 24591861 | 188,384 | |
| 1.830 | Achievers Finance India Pvt. Ltd. | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 401 to 516 days (ii) 771 to 919 days | (i) delay in submission Form ARF after receipt of inflow from a person resident outside India (ii) delay in submission Form FCGPR after issue of shares to a person resident outside India | The applicant, M/s Achievers Finance India Private Limited was incorporated under Companies Act, 1956, on November 27, 1996 and is in the business of Financial Leasing {NIC-2008:64910}. | (i) 52000000 | 390,833 | |
| 1.831 | PMC-YM-Pharma Pvt. Ltd. | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | 227 to 340 days | delay in submission Form FCGPR after issue of shares to a person resident outside India | The applicant, M/s PMC YMPharma Private Limited, was incorporated under Companies Act, 1956, on November 10, 2016 and is in the business of Manufacture of medicinal substances used in the manufacture of Pharmaceuticals {NIC-2008: 21001}. | 448,039,037 | 172,500 | |
| 1.832 | Zhenyu Technology Pvt. Ltd | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 497 days (ii) 549 days | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in allotment of shares / refund of share application money beyond stipulated period of 180 days | The applicant company was incorporated on June 15, 2016 under the provisions of the Companies Act, 2013 (CIN: U25208GJ2016PTC092475). The company is engaged in manufacturing of rubber and plastic products, bearing NIC Code: 22199. | (i) 924409 (ii) 924409 | 61,273 | |
| 1.833 | Mantra Softech (India) Pvt. Ltd | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | 324 days to 1028 days | delay in submission Form FCGPR after issue of shares to a person resident outside India | The applicant company was incorporated on April 06, 2006 under the provisions of The Companies Act, 1956 (CIN: U72200GJ2006PTC048092). The company is engaged in the business of manufacture of printers, scanners, including bar code scanners, smart card readers, virtual reality helmets, computer projectors (video beamers) bearing NIC Code: 26204. | 588,240 | 22,755 | |
| 1.834 | Exsilio Consulting India Pvt. Ltd | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 17 days (ii) 256 days each in the 2 FCGPR | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay beyond 30 days in submission of form FCGPR | The applicant company was incorporated on June 13, 2016 under the provisions of The Companies Act, 2013 (CIN: U74999GJ2016PTC092728). The company is engaged in developing new affordable technology in the business of computer programming, consultancy and related activities. | (i) & (ii) 3291500 | 23,950 | |
| 1.835 | M/s. Kaalbi Technologies Private Limited | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 1 months and 12 days to 1 years and 4 months (ii) 5 months and 8een days (iii) 1 years 3 months and 8een days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity, (ii) delay in refund of excess share application money to the foreign investors/persons resident outside India (iii) delay in submission of form FCGPRs | M/s Kaalbi Technologies Private Limited, was incorporated on March 20, 2014, under the Companies Act, 1956. The activity undertaken by the company is developing products and providing services in the field of technology and technology enabled applications. | (i) 961048164 (ii) 550915 (iii) 3861970473 | 49,453 | |
| 1.836 | M/s. Toyota Industries Engine India Private Limited | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | 9 months and 8een days | delay in submission of form FCGPR to the Reserve Bank | The applicant, M/s Toyota Industries Engine India Private Limited, was originally incorporated as M/s Kirloskar Toyota Textile Machinery Private Limited, on August 14, 1995, under the Companies Act, 1956, as per the Certificate of Incorporation issued by the Registrar of Companies, Karnataka. Subsequently, name of the company has been changed to M/s Toyota Industries Engine India Private Limited, with effect from December 09, 2015, pursuant to Rule 29 of the Companies (Incorporation) Rules, 2014, as per the Certificate of Incorporation issued by the Registrar of Companies, Karnataka. The company is engaged in the business of manufacture of machinery for textile industries and manufacture of internal combustion piston engines, other parts and accessories. | 1,310,000,000 | 176,000 | |
| 1.837 | M/s. Anglo Indian Flower Breeders Private Limited | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 4 days to 3 months and 7teen days (ii) 1 days to 3 months and 29 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of form FCGPRs | The applicant, M/s Anglo Indian Flower Breeders Private Limited, was incorporated on March 06, 2008, under the Companies Act, 1956, as per the Certificate of Incorporation issued by theAssistant Registrar of Companies, Karnataka. The activity undertaken by the company is growing and dealing in flowers, floriculture and biotech products, etc. | (i) 849024800 (ii) 484210000 | 23,010 | |
| 1.838 | M/s. Curtiss Wright Surface Technologies India Private Limited | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 7 days to 3 months 13 days (ii) 13 days to 4 months and 7teen days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of form FCGPRs | The applicant, M/s Curtiss-Wright Surface Technologies India Private Limited, was incorporated onDecember 21, 2011, under the Companies Act, 1956, as per the Certificate of Incorporation issued by the Deputy Registrar of Companies, Karnataka. The activity undertaken by the company is controlled shot peening and, treatment and coating of metals. | (i) 6339110621 (ii) 8452390000 | 87,740 | |
| 1.839 | M/s. Aujas Networks Private Limited | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 6 months and 29 days (ii) 1 years and 6teen days (iii) 4 days to 2 years 1 months and 14 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in allotment of shares to the foreign investors/persons resident outside India (iii) delay in submission of form FCGPRs | M/s Aujas Networks Private Limited, was incorporated on February 08, 2008, under the Companies Act, 1956. The activity undertaken by the company is providing risk management services including information risk advisory, secure development life cycle, identity and access management, data protection and privacy services. | (i) 12245670000 (ii) 359768000 (iii) 28615739200 | 592,345 | |
| 1.840 | M/s. Procsys Hospitality Private Limited | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 6 years and 7teen days to 11 years 6 months and 13 days (ii) 5 years 11 months and twenty 3 days to 6 years 6 months and 6 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of form FCGPRs | The applicant, M/s Procsys Hospitality Private Limited, was incorporated on February 11, 2004, under the Companies Act, 1956, as per the Certificate of Incorporation issued by the Registrar of Companies, Karnataka. The company is engaged in the business of running restaurants, hotels, resorts and other connected activities in the hospitality industry. | (i) 837761500 (ii) 836900000 | 223,350 | |
| 1.841 | M/s. Crowdanalytix Solutions Private Limited | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 1 days to 1 months and 9 days (ii) 1 years 7 months and 26 days to 1 years 8 months and 13 days (iii) 12 days to 3 months and 19 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in refund of excess share application money to the foreign investors/persons resident outside India (iii) delay in submission of form FCGPRs | M/s Crowdanalytix Solutions Private Limited, was originally incorporated as M/s. qualified LINK Technologies Private Limited on November 29, 2010, under the Companies Act, 1956, as per the Certificate of Incorporation issued by the Deputy Registrar of Companies, Karnataka. Subsequently the name of the company has been changed as M/s. CrowdANALYTIX Solutions Private Limited, on March 19, 2012, as per the fresh Certificate of Incorporation upon change of name, issued by the Registrar of Companies, Karnataka. The activity undertaken by the company is developing software products and web applications to provide consultancy services to companies located in India and the rest of the world. | (i) 9982489414 (ii) 1001686 (iii) 19419391630 | 79,108 | |
| 1.842 | M/s. Spectrumlabs India Private Limited | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 22 days to 1 years 2 months and 2 days (ii) 1 months and 7teen days to 1 years 8 months and 9 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of form FCGPR | The applicant, M/s Spectrumlabs India Private Limited, was incorporated on March 03, 2016, under the Companies Act, 2013, as per the Certificate of Incorporation issued by the Deputy Registrar of Companies, Karnataka. The Company is engaged in the business of manufacturing of Laboratory and Scientific Instruments. | (i) 1999930229 (ii) 1999930000 | 57,440 | |
| 1.843 | M/s. Quicko Technosoft Labs Private Limited | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 1 months and 4 days to 5 months and twenty days (ii) 10 months and 25 days to 2 years 6 months and 24 days (iii) 2 days to 10 months and 7teen days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in refund of excess share application money to the foreign investors/persons resident outside India, (iii) delay in submission of form FCGPRs | M/s Quicko Technosoft Labs Private Limited, was incorporated on October 14, 2010, under the Companies Act, 1956, as per the Certificate of Incorporation issued by the Registrar of Companies, Karnataka. The activity undertaken by the company is software publishing, consultancy and supply services. | (i) 708304864 (ii) 806764 (iii) 7608192100 | 35,238 | |
| 1.844 | M/s. Coraza Technologies Private Limited | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 3 days to 11 months (ii) 3 days to 2 months and 8een days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of form FCGPRs | The applicant, M/s Coraza Technologies Private Limited, was incorporated in Chandigarh, on December 04, 2009, under the Companies Act, 1956, as per the Certificate of Incorporation issued by the Registrar of Companies, Chandigarh. Subsequently, the registered office of the company was changed from Chandigarh to Karnataka with effect from August 05, 2016, as per the Certificate of Registration issued by the Registrar of Companies, Bangalore. The activity undertaken by the company is providing Information Technology and Computer Services to its clients. | (i) 14575210000 (ii) 110495920601 | 118,500 | |
| 1.845 | M/s. Wooplr Technologies private limited | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 1 months and 27 days to 6 months and 12 days (ii) 1 months and 1 days to 6 months | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of form FCGPR | The applicant, M/s Wooplr Technologies Private Limited, was incorporated on April 19, 2013, under the Companies Act, 1956, as per the Certificate of Incorporation issued by the Registrar of Companies, Karnataka. The Company is engaged in the business of information technology consultancy & services in software, hardware and providing web based applications, solutions and services related to the web technologies, e-commerce, etc. | (i) 418,49,80,000 (ii) 27,99,49,44,456 | 81,330 | |
| 1.846 | M/s. Spectral Insights Private Limited | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 3 months and 21 days (ii) 1 months and 3 days to 4 months and 28 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of form FCGPR | The applicant, M/s Spectral Insights Private Limited, was incorporated on May 13, 2016, under the Companies Act, 2013, as per the Certificate of Incorporation issued by the Registrar of Companies, Karnataka. The Company is engaged in the business of developing IT products related to providing comparative information, data analytics and also engage in research on sensors, healthcare, agricultural, food processing, micro biology, automotive and surveillance and / or license the intellectual property arising out of the services aforesaid. | (i) 49,38,75,000 (ii) 113,75,25,000 | 24,635 | |
| 1.847 | M/s. Moham Infra Private Limited | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 4 years 5 months and 4 days (ii) 4 years 5 months and 7teen days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of form FCGPR | The applicant, M/s Moham Infra Private Limited, was originally incorporated as M/s Moham Agro Private Limited, on August 14, 2012, under the Companies Act, 1956, as per the Certificate of Incorporation issued by the Registrar of Companies, Karnataka. Subsequently, name of the company has been changed as M/s Moham Infra Private Limited, with effect from May 28, 2014, as per the Certificate of Incorporation issued by the Deputy Registrar of Companies, Bangalore. The Company is engaged in the business of construction of buildings carried out on own account basis or on a fee or contract basis. | (i) 342,04,50,000 (ii) 342,04,50,000 | 470,000 | |
| 1.848 | M/s. Simplilearn Solutions Private Limited | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 7 days to 1 years 2 months and 19 days | delay in reporting receipt of foreign inward remittances towards subscription to equity | The applicant, M/s Simplilearn Solutions Private Limited, was incorporated on April 08, 2010, under the Companies Act, 1956, as per the Certificate of Incorporation issued by the Assistant Registrar of Companies, Karnataka. The Company is engaged in the business of providing online courses and certification training on the web and any other mode of communication platform. | 14,300,301,175 | 21,000 | |
| 1.849 | M/s. Designsense Software Technologies Private Limited | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 6 months to 1 years 10 months and 14 days (ii) 10 months and 29 days to 1 years 9 months and 8 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of form FCGPR | The applicant, M/s Designsense Software Technologies Private Limited, was incorporated on November 27, 2013, under the Companies Act, 1956, as per the Certificate of Incorporation issued by the Registrar of Companies, Karnataka. The Company is engaged in the business of software development, information technology solutions, and IT enabled services. | (i) 131,58,14,000 (ii) 229,87,62,370 | 52,125 | |
| 1.850 | M/s. Infovita Technologies Private Limited | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 6teen days to 3 months and 8 days (ii) 4 months and twenty days (iii) 15 days to 6 months and 11 days. | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of form FCGPR (iii) delay in refund of excess share application money to the foreign investor/persons resident outside India | The applicant, M/s Infovita Technologies Private Limited, was incorporated on January 10, 2014, under the Companies Act, 1956, as per the Certificate of Incorporation issued by the Registrar of Companies, Karnataka. The company is engaged in the business of designing and development of systems and application software, mobile applications for own use and/or for sale in India/or abroad in the field of health and healthcare. | (i) 50,00,00,000 (ii) 110,59,408 (iii) 49,99,96,000 | 72,973 | |
| 1.851 | M/s. Sei Sriram Power Private Limited | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | 1 years 3 months and 6 days to 1 years 10 months and 8een days | delay in submission of form FCGPR | The applicant, M/s SEI Sriram Power Private Limited, was originally incorporated as M/s Emmvee Energy Private Limited, on April 10, 2008, under the Companies Act, 1956, as per the Certificate of Incorporation issued by the Registrar of Companies, Karnataka. Subsequently, name of the company has been changed as M/s SEI Sriram Power Private Limited, on February 20, 2015, as per the Certificate of Incorporation pursuant to change of name, issued by the Assistant Registrar of Companies, Bangalore. The company is engaged in the business of construction of facilities in the field of renewable energy. | 301,414,174 | 268,500 | |
| 1.852 | M/s. Binatone Telecommunication Private Limited | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 3 months and 26 days to 1 years 3 months and 7 days (ii) 1 years 3 months and 8een days to 1 years 9 months and 6 days (iii) 8 months and 2 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in refund of share application money and delay in allotment of shares, beyond 180 days from the date of receipt of inward remittance (iii) delay in submission of form FCGPRs | The applicant, M/s Binatone Telecommunication Private Limited, was originally incorporated as M/s Voxtel Telecom Private Limited on November 17, 2006, under the Companies Act, 1956, as per the Certificate of Incorporation issued by the Registrar of Companies, Karnataka. Subsequently name of the company has been changed as M/s Binatone Telecommunication Private Limited with effect from August 05, 2010, under the Companies Act, 1956, as per the Certificate of Incorporation issued by the Registrar of Companies, Karnataka. The company is engaged in the business of wholesale trading in telecommunication products. | (i) 12,07,65,15,757 (ii) 208,23,15,182 (iii) 999,42,00,000 | 287,983 | |
| 1.853 | M/s. Bliss Chocolates India Private Limited | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 1 days each on 4 occaion | delay in reporting receipt of foreign inward remittances towards subscription to equity | The applicant, M/s Bliss Chocolates India Private Limited, was incorporated on March 27, 2015, under the Companies Act, 2013, as per the Certificate of Incorporation issued by the Registrar of Companies, Karnataka. The Company is engaged in the business of manufacturing of chocolates and bakery items. | 2,575,530,000 | 11,880 | |
| 1.854 | M/s. Pharmacheck Consulting Services Private Limited | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 4 months and 29 days to 5 months and 5 days (ii) 1 years 2 months and 4 days to 2 years and 29 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of form FCGPRs | The applicant, M/s Pharmacheck Consulting Services Private Limited, was incorporated on January 08, 2016, under the Companies Act, 2013, as per the Certificate of Incorporation issued by the Registrar of Companies, Karnataka. The activity undertaken by the company is to provide Information Technology solutions, consultancy and advisory services to the pharmaceutical/health care industry. | (i) 7450,000 (ii) 7500,000 | 7,690 | |
| 1.855 | M/s. TT Network Integration India Private Limited | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | 7 years 11 months and 3 days | delay in reporting receipt of foreign inward remittances towards subscription to equity | The applicant, M/s TT Network Integration India Private Limited, was incorporated on July 20, 2009, under the Companies Act, 1956, as per the Certificate of Incorporation issued by the Registrar of Companies, Karnataka. The activity undertaken by the Company is to provide system integration, networking solutions, information technology consulting and project management in the field of information technology. | 59,500,000 | 1,210,000 | |
| 1.856 | M/s. Zolostays Property Solutions Private Limited | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 6teen days to 10 months and 8 days (ii) 5 days to 1 years 3 months and 24 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of form FCGPRs | The applicant, M/s Zolostays Property Solutions Private Limited, was incorporated on June 03, 2015, under the Companies Act, 1956, as per the Certificate of Incorporation issued by the Registrar of Companies, Karnataka. The activity undertaken by the company is to provide information and details through online/offline to entities (individuals, firms, etc.) with respect to short and medium term accommodations or lodging of any kind. | (i) 960,02,53,004 (ii) 960,02,53,000 | 140,500 | |
| 1.857 | M/s. Disa India Limited | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 1 months and 4 days to 1 years 4 months and 11 days | delay in reporting the transfer of shares between NonResident to Resident, by the resident buyer | The name of the company was changed as M/s Disa India Limited with effect from April 04, 2001, as per fresh Certificate of Incorporation, issued by the Registrar of Companies, Karnataka. The activity undertaken by the company is manufacturing of plant, machinery, equipment, and machinery accessories, etc., including moulding, sand conditioning and activities related to this. | 214,065,600 | 160,500 | |
| 1.858 | M/s. Verodatatex India Private Limited | May/2019 | FDI | FEMA 20(R)/2017-RB | Contravention of Paragraph 2 of Schedule I to Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2017 notified, vide Notification No. FEMA 20(R)/2017-RB | 1 months and 10 days to 9 months and 6 days | Allotment of shares prior to the receipt of inward remittance and delay in refund of excess share application money to the foreign investor | The applicant, M/s Verodatatex India Private Limited, was incorporated on December 22, 2017, under the Companies Act, 2013, as per the Certificate of Incorporation issued by the Registrar of Companies, Karnataka. The company is engaged in the business of trading in information technology products related to datatex specialized software programs and solutions primarily for the use of textile industries. | 1,075,770 | 500 | |
| 1.859 | M/s. Special Smiles Private Limited | May/2019 | FDI | FEMA 20(R)/2017-RB | Contravention of Paragraph 2 of Schedule I to Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2017 notified, vide Notification No. FEMA 20(R)/2017-RB | 3 days | Allotment of shares to persons resident outside India, prior to receipt of inward remittances | The applicant, M/s Special Smiles Private Limited, was incorporated on February 12, 2016, under the Companies Act, 2013, as per the Certificate of Incorporation issued by the Registrar of Companies, Karnataka. The company is engaged in the business of providing services related to evaluation, diagnosis, prevention and treatment of oral and dental diseases. | 970,499,964 | 98,525 | |
| 1.860 | M/s. Billionbrains Garage Ventures Private Limited | May/2019 | FDI | FEMA 20(R)/2017-RB | Contravention of Paragraph 2 of Schedule I to Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2017 notified, vide Notification No. FEMA 20(R)/2017-RB | 7 months and 26 days | delay in refund of excess share application money to the foreign investor/persons resident outside India | The applicant, M/s Billionbrains Garage Ventures Private Limited, was incorporated on January 17, 2018, under the Companies Act, 2013, as per the Certificate of Incorporation issued by the Registrar of Companies, Ministry of Corporate Affairs, Government of India. The company is engaged in the business of providing software and IT enabled services. | 4,804 | 316 | |
| 1.861 | M/s. Ruman Enterprises Private Limited | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 9 years 2 months and 11 days to 9 years 2 months and 14 days (ii) 5 years 9 months and 11 days to 5 years 9 months and 14 days (iii) 3 years 2 months and 10 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) allotment of shares beyond 180 days from the date of receipt of inward remittance (iii) delay in submission of form FCGPRs | The applicant, M/s Ruman Enterprises Private Limited, was incorporated on June 29, 2007, under the Companies Act, 1956, as per the Certificate of Incorporation issued by the Registrar of Companies, Karnataka. The company is engaged in the business of computer consultancy and computer facilities management activities. | (i) 228,32,25,500 (ii) 228,32,25,000 (iii) 228,32,25,000 | 1,359,052 | |
| 1.862 | M/s. Dhammanagi & Sanu Developers Private Limited | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | 1 years 6 months and 4 days to 2 years and 6 days | delay in submission of form FCGPR | The applicant, M/s Dhammanagi and Sanu Developers Private Limited was incorporated on December 04, 2014, under the Companies Act, 2013, as per the Certificate of Incorporation issued by the Registrar of Companies, Karnataka. The Company is engaged in the business of construction of buildings carried out on Own- Account Basis or on a fee or contract basis. | 238,276,000 | 380,500 | |
| 1.863 | M/s. AIE Software India Private Limited | May/2019 | FDI | FEMA 20(R)/2017-RB | Contravention of Paragraph 2 of Schedule I to Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2017 | 9 months and 21 days | delay in refund of excess share application money to the foreign investor/persons resident outside India | The applicant, M/s AIE Software India Private Limited, was incorporated on January 19, 2018, under the Companies Act, 2013, as per the Certificate of Incorporation issued by the Deputy Registrar of Companies, Ministry of Corporate Affairs, Government of India. The company is engaged in the business of providing Information technology or Computer services activities. | 19,186 | 1,561 | |
| 1.864 | Arjun Pulp and Paper India Pvt Ltd | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 2 months 21 days to 2 years 5 months 12 days (ii) 5 days to 4 years 7 months 26 days (iii) 5 months 25 days to 10 months 25 days | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR (iii) delay in allotment of shares | The applicant company was incorporated on July 04, 2007 under the provisions of the Companies Act, 1956 (Registration No. U21020TN2007PTC064172) and is engaged in business of manufacture of other paper products. | (i) 11,88,75,98,200 (ii) 14,69,77,22,100 (iii) 10,88,74,84,300 | 1,023,841 | |
| 1.865 | FM Global Logistics India Pvt Ltd | May/2019 | FDI | FEMA 20/2000-RB | violation of Regulation 4 of Notification No. FEMA 20/ 2000-RB | 4 years 1 months 19 days | Taking on record the transfer of shares which had no prior approval of Reserve Bank | An investor, Ms. Sanila Jayaprakash, Non-Resident Indian residing in Singapore transferred 4900 shares of ₹10/- each amounting to ₹49,000.00 to non-resident company without prior approval of Reserve Bank. The company has taken the transfer of these shares on record in the books of the company Whereas in terms of Regulation 4 of Notification No. FEMA 20/ 2000-RB, an Indian entity shall not issue any security to a person resident outside India or shall not record in its books any transfer of security from or to such person provided that the Reserve Bank may on an application made to it and for sufficient reasons, permit an entity to issue any security to a person resident outside India or to record in its books transfer of security from or to such person, subject to such conditions as may be considered necessary. | ((i) 638,45,872 (ii) 737,31,924 | 14,170 | |
| 1.866 | Lanka Sportreizen (LSR) Pvt Ltd | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 5 days to 2 years 26 days (ii) 22 days to 6 years 10 months (iii) 10 months 15 days to 6 years 7 months 21 days (iv) 10 months 15 days | (i) delay in reporting to Reserve Bank the inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR to Reserve Bank on allotment of shares (iii) delay in receipt of consideration and allotment of shares (iv) violation of pricing guidelines in issue of shares | The applicant company was incorporated on December 12, 2008 under the provisions of the Companies Act, 1956 (Registration No. U60220TN2008PTC070165) and is engaged in the business of other reservation services related activities. | (i) 638,45,872 (ii) 737,31,924 (iii) 627,88,924 (iv) 406,86,974 | 121,772 | |
| 1.867 | Carpenter & Paterson India Pvt Ltd | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 3 years 4 months 15 days to 3 years 10 months 15 days (ii) 3 years 5 months 24 days to 3 years 11 months 21 days | (i) delay in reporting to Reserve Bank of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR | The applicant company was incorporated on July 10, 2014 under the provisions of the Companies Act, 2013 (Registration No. U28113TN2014FTC096486) and is engaged in the business of manufacture of other fabricated metal products n.e.c. | (i) 66,72,10,000 (ii) 127,48,10,000 | 110,570 | |
| 1.868 | T Perumal | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | 2 months 8 days to 5 months 9 days | delay in submission of FCTRS | The applicant sold 300 equity shares of ₹100/- each at a negotiated price of ₹2000/- to the Non-Resident shareholder M/s.Sunwell Solutions Co. Ltd, Japan against inward remittances received in two tranches on August 21, 2017 and November 22, 2017. | 600,000 | 61,924 | |
| 1.869 | Russel Tobin Associates Staffing Solutions India Pvt Ltd | May/2019 | FDI | FEMA 20(R)/2017-RB | Delay in Reporting | 5 months 6 days | delay in refund of receipt of consideration | The applicant received one foreign inward remittance of ₹1,07,511.87 on August 20, 2018 from M/s. Russel Tobin & Associates LLC, New York, towards subscription to equity shares. Against the above remittance, the company allotted shares for ₹99,990.00 on October 15, 2018 and filed the FCGPR. The company refunded the balance amount after allotment of shares with delay. | 7,521 | 323 | |
| 1.870 | Crowdnetic Technologies Pvt Ltd | May/2019 | FDI | FEMA 20/2000-RB & FEMA 20(R)/2017-RB | Delay in Reporting | (i) 8 months 26 days to 2 years 1 months (ii) 1 years 10 months 2 days to 2 years 8 months 2 days (iii) 8 months 12 days to 2 years 8 months 12 days | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPR (iii) delay in filing of FLA returns | The applicant is a resident company incorporated as Private Limited Company under the Companies Act, 2013 on 18.01.2016 (CIN: U72200TG2016FTC102764). The company is engaged in IT Consultancy Services. | (i) 39,40,85,921 (ii) 39,40,850 (iii) - | 79,805 | |
| 1.871 | SaiGanga Panakeia Pvt Ltd | May/2019 | FDI | FEMA 20/2000-RB & FEMA 20(R)/2017-RB | Delay in Reporting | (i) 16 days (ii) 10 months 17 days (iii) 7 days (iv) 8 months 18 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of Form FCGPR to Reserve Bank of India after issue of shares towards subscription to equity (iii) delay in refund of share application money to foreign investors (iv) delay in filing of FLA returns in terms of Paragraph 2 and Regulation 13.1(3) | The company is engaged in research of ayurvedic concepts of medicine, allopathic and homeopathic medicines and manufacture of medicines and formulations. | (i) 652,68,772 (ii) 11,60,53,285 (iii) 12,38,100 | 88,571 | |
| 1.872 | Laver and wood India Pvt Ltd | May/2019 | FDI | FEMA 20(R)/2017-RB | Delay in Reporting | 9 months 7 days | The contravention sought to be compounded is (i) delay in refund of unallotted share application money to the nonresident investor | The company is engaged in the business of Manufacture of sports goods. | 1,199,174 | 55,996 | |
| 1.873 | Novisync solutions India Pvt Ltd | May/2019 | FDI | FEMA 20/2000-RB & FEMA 20(R)/2017-RB | Delay in Reporting | (i) 6 months 18 days (ii) 3 years 2 months 20 days (iii) 1 years 11 months (iv) 8 months 19 days to 2 years 8 months 19 days | (i) delay in reporting of receipt of foreign inward remittances towards subscription of equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India (iii) delay in receipt of consideration after allotment of shares to a person resident outside India (iv) delay in filing the Annual Return in respect of the Foreign Liabilities and Assets (FLA Return) | The company is engaged in the business of information technology services industry in India and abroad. | (i) 98,586 (ii) 99,000 (iii) 99,000 | 64,897 | |
| 1.874 | Dazsi systems (India) Private Limited | May/2019 | FDI | FEMA 20/2000-RB & FEMA 20(R)/2017-RB | Delay in Reporting | (i) 13 years 4 months (ii) 13 years 8 months 15 days to 13 years 9 months 16 days (iii) 13 years 10 months 7 days and 11 years 1 months 14 days (iv) 8 months 5 days to 11 years 8 months 18 days | (i) delay in reporting of receipt of foreign inward remittances towards subscription of equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India (iii) delay in receipt of consideration after allotment of shares to a person resident outside India (iv) delay in refund of excess share application money (v) delay in filing the annual return in respect of the Foreign Liabilities and Assets (FLA Return) | The company is engaged in the business of information technology services industry in India and abroad. | (i) 433,500 (ii) 100,000 (iii) 333,510 | 199,588 | |
| 1.875 | Chakri fisheries Pvt Ltd | May/2019 | FDI | FEMA 20/2000-RB & FEMA 20(R)/2017-RB | Delay in Reporting | (i) 1 years 18 days (ii) 21 days (iii) 9 months 2 days to 2 years 9 months 2 days | (i) delay in reporting of receipt of foreign inward remittances towards subscription of equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India (iii) delay in filing the Annual Return in respect of the Foreign Liabilities and Assets (FLA Return) | The company is engaged in the business of “Processing and preserving of fish crustacean and similar foods”. | (i) 20,36,400 (ii) 20,36,400 | 52,900 | |
| 1.876 | Vsplash Techlabs Pvt Ltd | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | 7 years 8 months 29 days | The contravention sought to be compounded is delay in submission of Form FCGPR to Reserve Bank of India | The company is engaged in the business of Software Development. | 1,750,000 | 29,375 | |
| 1.877 | Tara Coffee (India) Pvt Ltd | May/2019 | FDI | FEMA 20/2000-RB | Delay in Reporting | (i) 12 days (ii) 1 months 7 days (iii) 1 years 9 months 8 days to 5 years 9 months 8 days | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of Form FCGPR to Reserve Bank of India after issue of shares towards subscription to equity (iii) delay in filing of FLA returns | The company is engaged in the business of manufacturing and exporting of all kinds of soluble instant chicory and instant coffee products. | (i) 49,99,250 (ii) 49,99,250 | 71,750 | |
| 1.878 | WaterHealth India Pvt Ltd | May/2019 | FDI | FEMA 20(R)/2017-RB | Delay in Reporting | 2 months 12 days | The contravention sought to be compounded is delay in refund of share application money to foreign investors | The company is engaged in the business of setting up of water health centers and sale and supply of pure water/equipment. | 731,731,663 | 86,587 | |
| 1.879 | Mr Jayant Nanda | May/2019 | Acquisition and Transfer of Immovable Property | FEMA 21/2000-RB | Regulation 8 of Notification No. FEMA-21/2000-RB dated May 03, 2000 states that save as otherwise provided in the Act or Regulations, no person resident outside India shall transfer any immovable property in India | september 11, 2003 to October 3, 2018 i.e. 15 years and 22 days | Acquisition of immovable property in India without obtaining prior permission of the Reserve Bank of India | Mr Jayant Nanda is a Non-resident Indian since 1990. He has acquired six pieces of agricultural land in Gujarat between September 11, 2003 and October 19, 2007 by way of purchase without obtaining prior permission of Reserve Bank of India. The aforesaid agricultural properties in Gujarat were acquired by Mr Jayant Nanda for a total consideration of ₹ 9,75,000/- (Nine lakh seventy five thousand only) i.e. ₹2,00,000/-+ ₹ 75,000/- +₹ 4,00,000/- + ₹ 1,25,000 + ₹1,25,000/- + ₹ 50,000. Mr Jayant Nanda being an NRI was not eligible to purchase agricultural land in India without Reserve Bank permission. Hence, the abovementioned acquisition of agricultural land without Reserve Bank’s permission amounts to contravention of Regulation 8 of Notification No. FEMA 21/2000-RB | 975,000 | 2,925,000 | |
| 1.880 | Vijay Chandran Menon | Jun/2019 | FDI | FEMA 20/2000-RB | Regulation 10A(a) of Notification No.FEMA.20/2000-RB dated May 03, 2000 as amended from time to time, a person resident in India who proposes to transfer to a person resident outside India(not being erstwhile OCB), any security, by way of gift, shall make an application to RBI for its approval. | 2008 to 2011 | The contravention sought to be compounded is the transfer of shares by way of gift by a person resident in India to person resident outside India without RBI approval. | Equity shares of Menon and Menon Limited, held by the applicant, a person resident in India were gifted to Shri Satish Menon in the following manner without prior approval from the RBI thereby contravening Regulation 10(A)(a) of FEMA 20. | 677,023,693 | 88,662 | |
| 1.881 | Century Plyboards (India) Limited | Jun/2019 | ODI | FEMA 120/RB-2004 | Regulation 16(1)(v) of Notification No. FEMA 120/2004-RB provides for transfer by way of sale of shares, provided that, “the overseas concern has been in operation for at least one full year and the Annual Performance Report together with the audited accounts for that year has been submitted to the Reserve Bank”. | 1 months | The applicant has sought to be compounded for disinvesting its stake in an overseas Joint Venture (JV) by way of sale of shares within one year of the operation of the overseas JV, without prior approval of the Reserve Bank of India, | The applicant was incorporated as Century Plyboards (India) Private Limited (CIN L20101WB1982PLC034435), under the Companies Act, 1956, on January 05, 1982. Its name was subsequently changed to Century Plyboards (India) Limited on June 05, 1996. The applicant is engaged in the business of trading in veneer, plywood etc. The applicant invested SGD 2,29,000 (Rs. 1,07,41,245/-) on 19.01.2016 in an overseas joint venture (JV) viz., Innovation Pacific Singapore Pte. Ltd., in Singapore (incorporated on 28.10.2015). The applicant divested its stake by sale of shares on 24.08.2016, without prior RBI approval, when the overseas entity had not been in operation for one year, in contravention of Regulation 16(1)(v) of Notification No. FEMA 120/2004-RB. The disinvestment was taken on record on 26.12.2018. | 10,741,245 | 103,706 | |
| 1.882 | M/s. Aibono Smart Farming Pvt Ltd. | Jun/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 4 months 12 days to 1 years 1 months 17 days (ii) 7 months 20 days to 1 years 3 months 25 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant company was incorporated on November 19, 2013 under the provisions of the Companies Act, 2013 (Registration No.U01100TN2013PTC093749) and is engaged in the business of wholesale of fruits and vegetables. | (i) 198,00,00,000 (ii) 198,00,00,000 | 152,630 | |
| 1.883 | Cellcomm Solutions Limited | Jun/2019 | FDI | FEMA 20/2000-RB | Regulation 8(2) of Notification No. FEMA 20/2000-RB “The issuing company shall furnish to the Reserve Bank , within thirty days from the date of issue of shares under the scheme, a report giving the following particulars/documents, - i) names of persons to whom shares are issued under the scheme and number of shares issued to each of them; ii) a certificate from the Company Secretary of the issuing company that the value of shares issued under the scheme does not exceed 5% of the paid up capital of the issuing company and that the shares are issued in compliance with the regulations issued by the SEBI in this behalf.” | July 01, 2017 to January 01, 2019 i.e. 1 years and 6 months | The contraventions sought to be compounded relate to delay in reporting of grant of Employee Stock Options Plan (ESOPs) and subsequent issuance of shares against ESOPs, beyond the stipulated time period | The applicant company was incorporated as Radex Spacecomm Limited (CIN: U32202KA1994PLC015460) under the Companies Act, 1956 on April 4, 1994. The name of the company was subsequently changed to Radex Subex Cellcomm Limited on February 19, 1996 and further to Cellcomm Solutions Limited on February 21, 2005. The applicant is mainly engaged in business of wireless communication, embedded systems, RF coverage enhancement etc. On June 01, 2017 the company granted ESOP Options under Cellcomm SAR (Stock Appreciation Rights) 2017 Scheme to three NRI employees of the company. | 3,456,880 | 13,750 | |
| 1.884 | M/s Covalense Technologies Private Limited | Jun/2019 | FDI | (i) FEMA 20/2000-RB (ii) FEMA 20(R)/2017-RB | Delay in reporting | (i) 2 years 1 months (ii) 4 months 3 days (iii) 18 days to 2 months 2 days | (i) delay in reporting receipt of foreign inward remittances (ii) delay in refund of share application money to foreign investors (iii) delay in filing of FLA returns | The company is engaged in writing, modifying, testing of computer program to meet the needs of a particular client excluding web-page designing. | (i) 269,235 (ii) 385,080 | 116,008 | |
| 1.885 | M/s. Cyberabad Citizens Health Services Private Limited | Jun/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 4 days to 9 days (ii) 2 days to 4 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The company is engaged in the business of “Hospital activities”. | (i) 188,70,761 (ii) 390,58,110 | 30,120 | |
| 1.886 | M/s. Fusion Lastek Technologies Private Limited | Jun/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 years 1 months 15 days | The contravention sought to be compounded is delay in submission of form FCTRS on transfer of shares from Resident to NonResident | The company is engaged in the business of “Promotion of investments in metal processing industry”. | 227,138,240 | 127,000 | |
| 1.887 | M/s. Ganapathy Finance and Investment Company | Jun/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 years 1 months 15 days | The contravention sought to be compounded is delay in submission of form FCTRS on transfer of shares from Resident to NonResident | The sole proprietorship concern is engaged in the business of “Investment Activity”. | 90,393,135 | 68,500 | |
| 1.888 | Mahajan Overseas Private Limited | Jun/2019 | ODI | FEMA 120/RB-2004 | Delay in reporting | (i) 2 years and 9 months to 6 years and 5 months (ii) 2 years and 9 months to 6 years and 5 months (iii) 2 years and 9 months to 6 years and 5 months (iv) 1 years 9 months to 3 years 2 months | (i) getting an SBLC issued in favour of its step down subsidiary (SDS), without prior approval of the Reserve Bank of India (ii) delay in filing Form ODI with respect to reporting of issuance of the SBLC (iii) renewal of SBLC (which formed a part of the financial commitment) when the submission of Annual Performance Report (APR) was pending (iv) delay in receipt of share certificates beyond the stipulated time period (v) delay in submission of APR beyond the stipulated time period | The applicant is engaged in the business of manufacture and export of handicrafts, home furnishings, textile items etc. A wholly owned subsidiary (WOS) of the applicant, namely Mahajan Hongkong Limited, was incorporated in Hongkong on 19.05.2008. The WOS further incorporated a step=down subsidiary of the applicant in Canda on 09.10.2008. The applicant company extended an SBLC amounting to USD 500,000 (INR 3,54,60,000) in favour of the SDS on 06.01.2010. The SBLC was renewed four times beginning 30.08.2012, without prior approval of RBI, in contravention of Regulation 6(3)(ii)(i) of Notification No. FEMA 120/2004-RB. The issuance of SBLC was ratified by the Bank and taken on record on 27.11.2018. Further, the renewal of SBLC was reported in Form ODI beyond the stipulated time period, thereby contravening Regulation 6(2)(vi) of Notification No. FEMA 120/2004-RB. The SBLC, which formed a part of the financial commitment, was renewed when the submission of Annual Performance Reports (APRs) for the year 2012-13 was pending, thereby contravening Regulation 6(2)(iv) of the abovementioned Notification. Also, the share certificates, for remittances sent on 26.05.2008 and 29.10.2009, were received on 27.01.2012, with a delay beyond the stipulated time period, which is in contravention of Regulation 15(i) of Notification No. FEMA 120/2004-RB. Further, there was a delay in submission of APRs for the years 2009 to 2018, in contravention of Regulation 15(iii) of Notification No. FEMA 120/2004-RB. | (i) 354,60,000 (ii) 354,60,000 (iii) 354,60,000 (iv) 608,020 | 898,710 | |
| 1.889 | M/s. Jersey Engineering Solutions Pvt Ltd. | Jun/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 months 25 days (ii) 3 months 29 days (iii) 5 months 12 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (iii) delay in refund of receipt of consideration | The applicant company was incorporated on January 09, 2014 under the provisions of the Companies Act, 2013 (Registration No. U74999TN2014PTC094529) and is engaged in business of architectural and engineering activities and related technical consultancy. | (i) 937,700 (ii) 10,00,00,000 (iii) 37,36,500 | 12,044 | |
| 1.890 | Marari Hideaways Resorts and Travels Pvt. Ltd. | Jun/2019 | ECB | FEMA 3/2000-RB | Delay in reporting | 2 years to 11 years | (i) availing External Commercial Borrowing (ECB) for an enduse that was not permitted (ii) drawdown before obtaining Loan Registration Number (LRN) from the Reserve Bank of India (RBI) (iii) noncompliance with reporting requirements for ECB. | The applicant company was incorporated as Marari Hideaways Resorts and Travels Pvt Ltd (CIN U55101KL2007PTC020579), under the Companies Act, 1956, on March 29, 2007. It is engaged in the business of running and maintaining hotels, motels, holiday homes and rest houses. | 1,127,121,314 | 2,502,894 | |
| 1.891 | M/s LS Cable India Pvt. Ltd. | Jun/2019 | FDI | (i) FEMA 20/2000-RB (ii) FEMA 20(R)/2017-RB | Delay in reporting | (i) 16 days to 49 days (ii) Financial years 2010-11 to 2016-17 (iii) FY 2017-18 | (i) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India ii) delay in filing of FLA returns (iii) delay in filing of FLA returns in terms of regulation 13.1(3) | The applicant company was incorporated on September 28, 2007 under the Companies Act 1956.The applicant is engaged in manufacturing of other electronic and electric wires and cables (insulated wire and cable made of steel, copper and aluminum). | 2,984,415,000 | 12,330,000 | |
| 1.892 | M/s Manjeera Hospitality (Rajahmundry) Pvt Ltd | Jun/2019 | FDI | (i) FEMA 20/2000-RB (ii) FEMA 20(R)/2017-RB | Delay in reporting | (i) 1 months 22 days to 2 months 19 days (ii) 9 months 4 days | (i) delay in reporting receipt of foreign inward remittances (ii) delay in filing of FLA returns in terms of Regulation 13.1(3) of FEMA 20® | The company is engaged in Hotels and Motels, inns, resorts providing short term lodging facilities. | 600,000 | 20,840 | |
| 1.893 | M/s Biotehnos Pvt Ltd | Jun/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 0Y 0M 1D | Neither the equity instruments were issued, nor the money refunded to the foreign investor within 60days /75days (as applicable) from the receipt of the inward remittance | Its main activities are Manufacture of allopathic pharmaceutical preparations | 33,898 | 9 | |
| 1.894 | M/s Capricorn Group Pvt Ltd | Jun/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1Y 10M 10D | Regulation 10A(b)(i) read with Para 10 under Schedule 1 of FEMA 20 delay in filing form FCTRS. | Its main activities are Construction Activities | 100,000 | 11,917 | |
| 1.895 | M/s Eternity Innovations & Technologies Pvt Ltd | Jun/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y 2M 3D (ii) 9Y4M16D (iii) 9Y 8M 5D | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) Delay in filing Form FCGPR to Reserve Bank after issue of shares to person resident outside India (iii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 60days /75days (as applicable) from the receipt of the inward remittance | Its main activities are Software Support Services (Software Maintenance /Consultancy) | (i) 499,990 (ii) 499,990 (iii) 779,177 | 65,142 | |
| 1.896 | M/s FLIGHT EXPRESS TRAVEL (INDIA) PRIVATE LIMITED | Jun/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3673 days to 4162 days (ii) 3529 days to 4048 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant is in the business of Tour Operator activities (NIC Code 2008 - 79120). The applicant had received foreign inward remittances for subscription to equity shares from Flight Express Travel INC, a Non-resident Foreign Company and reported the same with a delay beyond the stipulated period of 30 days | (i) 54,33,28,730 (ii) 54,33,28,730 | 127,291 | |
| 1.897 | M/s isight Risk Management Pvt Ltd | Jun/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 8Y 11M 0D (ii) 8Y 9M 2D (iii) 0Y 1M 0D (iv) Financial years 2009-10, 2010-11, 2011-12, 2012-13, 2014-15, 2015-16, 2016-17 and 2017-18. | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) Delay in filing Form FCGPR to Reserve Bank after issue of shares to person resident outside India (iii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 60days /75days (as applicable) from the receipt of the inward remittance Para 9(2) of FEMA 20 and Regulation 13.1(3 ) of FEMA 20R Delay in filing ‘Annual Return on Foreign Liabilities and Assets’ (FLA Returns) | Its main activities are Security Consulting | (i) 105,788 (ii) 100,000 (iii) 105,788 | 148,230 | |
| 1.898 | M/s The Mandhana Retail Ventures Ltd | Jun/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 0Y0M27D | Delay in filing Form FCGPR to Reserve Bank after issue of shares to person resident outside India | Its main activities are Business of designing, retailing, distributing menswear, womenswear, accessories etc | 91,979 | 10,083 | |
| 1.899 | M/s Maritime Montering Norinco India Private Limited | Jun/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y 2M 4D to 0Y 8M 25D (ii) 1Y 3M 3D (iii) 0Y 3M 08D to 0Y 5M 0D | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) Delay in filing Form FCGPR to Reserve Bank after issue of shares to person resident outside India (iii) issuance of shares without adherence to the Pricing Guidelines | Its main activities are- 1)Service activities incidental to water transportation 2)Other retail sale in non-specialized stores | (i) 52,81,742 (ii) 52,50,000 (iii) 52,50,000 | 108,833 | |
| 1.900 | M/s Maximator India Pvt Ltd | Jun/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y 0M 2D (ii) 0Y 1M 28D | (i) Delay in filing Form FCGPR to Reserve Bank after issue of shares to person resident outside India (ii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 60days /75days (as applicable) from the receipt of the inward remittance | Its main activities are Wholesale trade of Engineering Goods | (i) 245,000 (ii) 245,000 | 41,002 | |
| 1.901 | M/s Airfi Aviation Solutions Private Limited | Jun/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 years 1 months and 8 days (ii) 2 years 4 months and 14 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) Delay in filing Form FCGPR to Reserve Bank after issue of shares to person resident outside India | The activity undertaken by the company relates to developing, maintaining and selling hardware and software solutions, directly and indirectly, to companies in the aviation sector and designing, research and development of software and hardware including information technology consultancy not limiting to aviation sector both in India and outside. | (i) 100,00,000 (ii) 99,00,000 | 23,914 | |
| 1.902 | M/s British Orient Infotel Private Limited | Jun/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 12 years 10 months and 5 days (ii) 11 years 3 months and 11 days (iii) 13 years 2 months and twenty days (iv) 9 years 10 months and 5 days (v) 9 years 7 months and 13 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) allotment of shares prior to receipt of inward remittance (iii) delay in submission of form FCGPR to the Reserve Bank, after issue of shares to a person resident outside India (iv) taking on record in its books by the applicant without prior approval, the transfer of shares from Resident to NonResident investors (v) delay in reporting the transfer of shares from Resident to NonResident investors | The activity undertaken by the company is providing BPO and Medical transcription services through Information Technology. | (i) 33,45,000 (ii) 428,928 (iii) 37,50,000 (iv) 38,26,15,740 (v) 38,26,15,740 | 120,124 | |
| 1.903 | M/s Daon Software India Private Limited | Jun/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 months and 10 days (ii) 9 months and 12 days (iii) 8 years 9 months and 6 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) allotment of shares prior to receipt of share application money (iii) delay in submission of form FCGPR to the Reserve Bank, after issue of shares to a person resident outside India | The activity undertaken by the company is to carry on the business of identity management, biometric identity assurance software and services including verification, identification, watchlist management, investigation, identity issuance and any other related or allied fields. | (i) 99,00,000 (ii) 99,00,000 (iii) 99,00,000 | 52,200 | |
| 1.904 | M/s EK7 Softech Analytics Private Limited | Jun/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | twenty days | The contravention sought to be compounded is delay in allotment of shares to the foreign investor/persons resident outside India, beyond 60 days from the date of receipt of the inward remittance | The company is engaged in the business of designing, development, customization, implementation, maintenance, testing, benchmarking and dealing in computer software and solutions. | 50,000 | 27,400 | |
| 1.905 | M/s Extrude Hone India Private Limited | Jun/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 6teen days to 3 months and 4 days | The contravention sought to be compounded is delay in refund of share application money and delay in allotment of shares, beyond 180 days from the date of receipt of inward remittance, to a person resident outside India | Affairs. The company is engaged in the business of designing, production, industrial usage, marketing, sale and distribution of surface finishing equipment, consumable materials and related services. | 84,955 | 13,700 | |
| 1.906 | M/s Symphony Talent India Private Limited | Jun/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 years 1 months and 27 days | The contravention sought to be compounded is delay in submission of form FCGPR to the Reserve Bank, after issue of shares to a person resident outside India | The company is engaged in the business of computer programming, consultancy and related activities. | 99,990 | 5,794 | |
| 1.907 | M/s Verihelp Technologies Private Limited | Jun/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 22 days to 1 years 3 months and 25 days | The contravention sought to be compounded is delay in submission of form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | The activity undertaken by the company is to provide software & Information Technology related services to its clients. | 1,688,980 | 13,405 | |
| 1.908 | M/s Vertex Ventures Sea Management India Private Limited | Jun/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 5 months and 21 days (ii) 1 years 1 months and 21 days | (i) allotment of shares prior to the receipt of inward remittance (ii) delay in submission of form FCGPR to the Reserve Bank, after issue of shares to a person resident outside India | The company is engaged in the business of providing investment advisory and related services to venture capital funds in India. | (i) 25,00,00,000 (ii) 25,00,00,000 | 50,425 | |
| 1.909 | M/s Zastra Innovations Private Limited | Jun/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 7 months and 5 days (ii) 6 months and 9 days (iii) Financial years 2016-17 | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of form FCGPR to the Reserve Bank, after issue of shares to a person resident outside India (iii) delay in filing the Annual Return on Foreign Liabilities and Assets | The business activity undertaken by the Company is to provide Software and Information Technology services to its clients. | (i) 99,99,000 (ii) 99,99,000 | 15,575 | |
| 1.910 | Reyami Steel Construction and Engineering Pvt Ltd | Jun/2019 | Investment in Firm or Proprietary Concern in India | FEMA 24/2000-RB | Regulation 3 of Notification No.FEMA.24/2000-RB dated May 03, 2000 as amended from time to time, “save as otherwise provided in the Act or rules or regulations made or directions or orders issued thereunder, no person resident outside India shall make any investment by way of contribution to the capital of a firm or a proprietary concern or any association of persons of India: Provided that the Reserve Bank may, on an application made to it, permit a person resident outside India subject to such terms and conditions as may be considered necessary to make an investment by way of contribution to the capital of a firm or a proprietary concern or any association of persons in India”. | 7 years | The contravention sought to be compounded is the receipt of investment by way of capital contribution without RBI approval. | The Partnership Firm Reyami Steel Construction and Engineering (hereinafter referred to as Reyami) was engaged in the business of providing engineering services related to steel manufacturing and construction and other related services etc. The initial capital of Reyami at the time of execution of partnership deed was agreed at Rs.10,00,000 to be contributed by the partners. Out of this, Rs.4,90,000 was contributed by Mr.Rashid Mubarak Saif Al Reyami, a person resident outside India on July 21, 2009. On behalf of the non-resident, the amount was transferred by Mr.Marar, an Indian resident to Mr.H.Velayudhan, an NRI and Managing Partner of Reyami. Reyami failed to obtain prior permission with regards to the investment by way of capital contribution of Rs.4,90,000 by Mr.Mubarak Saif Al Reyami, a person resident outside India thereby contravening Regulation 3 of FEMA 24. The partnership firm was dissolved on March 31, 2016 and is represented by Reyami Steel Construction and Engineering Pvt Ltd. | 490,000 | 53,675 | |
| 1.911 | M/s Oakway International Schools | Jun/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | (i) 39 to 75 days (ii) Financial years 2017-18 | (i) the delay in issuance of shares beyond stipulated time period of 60 days after receiving inflow from a person resident outside India (ii) Delay in Filing of FLA returns | The applicant is engaged in the activities of providing General school education in the second stage of the secondary level (Senior/Higher secondary). | 10,135,900 | 11,068,000 | |
| 1.912 | M/s Open Access Technology India Pvt. Ltd. | Jun/2019 | FDI | (i) FEMA 20/2000-RB (ii) FEMA 20(R)/2017-RB | Delay in reporting | (i) 4263 days to 4464 days (ii) 1627 days to 4428 days iii) 2146 days (iv) Financial years 2010-11 to 2016-17 (v) FY 2017-18 | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity shares (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India iii) delay in issuance of shares beyond stipulated 180 days (iv) delay in filing of FLA returns (v) delay in filing of FLA returns in terms of regulation 13.1(3) of Foreign Exchange Management | The applicant company was incorporated on July 02, 2006 under the Companies Act 1956. The applicant is engaged in information technology and computer service activities. | (i) 33,85,29,449 (ii) 33,85,200 iii) 13,85,294 | 26,960,700 | |
| 1.913 | M/s. Rising Stars Mobile India Private Limited | Jun/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 9 months 6 days to 2 years 7 months 22 days (ii) 12 days | (i) delay in submission of Form FCGPR to the Regional Office of the Reserve Bank after issue of shares to a person resident outside India (ii) delay in filing the annual return in respect of the Foreign Liabilities and Assets | The company is engaged in the business of “Manufacture of pagers, cellular phones and other mobile communication equipment” | 6,638,699,900 | 1,498,670 | |
| 1.914 | Standard Greases & Specialities Pvt. Ltd. | Jun/2019 | ODI | FEMA 120/RB-2004 | Delay in reporting | July 10, 2017 to April 16, 2018 | The contraventions sought to be compounded relate to disinvestment proceeds being repatriated after 90 days of disinvestment | The applicant company is engaged in the business of manufacturing, processing, blending, selling, importing and exporting of lubricating oil and greases in India. The applicant had made an equity contribution for 24% stake in overseas JV viz. Standard Greases and Specialities LLC, UAE by remitting AED 1,20,000 on December 13, 2012. Subsequently, the applicant entered into an agreement dated July 10, 2017 to disinvest their stake in overseas JV to a NR viz. Khaleej Lubricants and Specialities FZE, UAE. The sale consideration amount of AED 1,20,000 was received on December 18, 2017 but it was received from the Gulf Oil Middle East Limited, UAE-parent company of the acquirer viz. Khaleej Lubricants and Specialities FZE. The AD bank advised the applicant to bring the sale consideration from the acquirer only and accordingly, the amount of sale consideration was returned to Gulf Oil and payment of AED 1,20,000 was received from Khaleej Lubricants and Specialities FZE on April 16, 2018. Receipt of sale proceeds beyond a period of 90 days is in contravention of Regulation 16(2) of FEMA 120/RB-2004 dated July 7, 2004 as amended from time to time (hereinafter referred to as Notification No. FEMA 120/2004-RB). | 1,807,200 | 59,036 | |
| 1.915 | M/s. Sacra Systems Pvt Ltd. | Jun/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 2 months 12 days | The contravention sought to be compounded is delay in allotment of shares | The applicant company was incorporated on July 23, 2018 under the provisions of the Companies Act, 2013 (Registration No. U72900TZ2018FTC030750) and is engaged in the business of computer consultancy and computer facilities management activities. | 99,000 | 1,980 | |
| 1.916 | M/s Ssvk Agro Tech Pvt Ltd | Jun/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 39 days | The contravention sought to be compounded is the delay in refunding the excess inflow amount | The applicant company was incorporated on August 14, 2018 under the Companies Act 2013.The applicant is engaged in the business of Manufacture of other animal feeds n.e.c. | 8,016 | 87 | |
| 1.917 | M/s. Trimed Solutions India Private Ltd. | Jun/2019 | FDI | (i) FEMA 20/2000-RB (ii) FEMA 20(R)/2017-RB | Delay in reporting | (i) 2 months 1 days (ii) 9 months 19 days | (i) delay in reporting to Reserve Bank the inflow of funds received from a person resident outside India for allotment of shares (ii) delay in refund of receipt of consideration | The applicant company was incorporated on October 29, 2012 under the provisions of the Companies Act, 1956 (Registration No. U74999TZ2012PTC018888) and is engaged in the business of wholesale of scientific, medical and surgical machinery and equipment. | (i) 43,00,00,000 (ii) 46,49,02,034 | 84,995 | |
| 1.918 | M/s. TSI Business Parks (Hyderabad) Private Limited | Jun/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 17 days (ii) 24 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The company is engaged in the business of “Developments of business parks”. | (i) 22,50,00,000 (ii) 33,35,46,640 | 36,000 | |
| 1.919 | Virendra Agrawal | Jun/2019 | ODI | FEMA 120/RB-2004 | In terms of Regulation 22(4) a person resident in India may transfer the shares acquired only by way of sale. | 12 years 3 months | The contravention that is sought to be compounded is transfer of foreign securities (without sale of shares) by the applicant to his wife without prior permission of the Reserve Bank of India. | The applicant a resident individual, has worked with Vedanta Group, in India from 2001 to 2008. The applicant was rewarded 8,000 shares of Vedanta Resources PLC, London in March 2004 to be issued in 2 tranches. The consideration for the reward of shares equivalent to face value INR 17,532 had been deducted from the applicant’s salary for the month of February 2005. As per the option available in the reward plan, the applicant named his wife Smt Pratibha Agrawal as nominee for 3,000 shares(value worth USD 300/INR 13,149) out of the 4,000 shares to be received in the second tranche and subsequently shares were allotted in her name on September 08, 2006. Since this nomination was done without the prior permission of the Reserve Bank of India, it is in contravention of Regulation 22 (4) read with Regulation 3 of the Notification ibid. | 13,149 | 16,108 | |
| 1.920 | M/s Unify Technologies Private Limited | Jun/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 years 10 months 24 days (ii) 1 years 1 months 2 days to 2 years 2 months 10 days (iii) 1 years 10 months 7 days to 2 years 10 months 7 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (iii) delay in filing of FLA returns | The company is engaged in other information technology and computer service activities. | (i) 83,09,880 (ii) 100,08,750 | 72,115 | |
| 1.921 | Amit Agarwal | Jun/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 3 months and 9 days | The contravention sought to be compounded is of delay in reporting the transfer of shares in Form FCTRS beyond the stipulated period | The applicant, a resident individual, had transferred 25000 equity shares of M/s Tapp India Private Limited, a company engaged in the business of manufacturing of electrical insulators and insulating fittings of ceramics | 250,000 | 10,330 | |
| 1.922 | Genesis Colors Limited | Jun/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 days to 1 months and 19 days (ii) 5 months & 15 days and 1 years, 1 months & 3 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant company, incorporated on November 23, 1998, is engaged in the business of wholesale of other clothing items n.e.c. | (i) 27,26,01,494 (ii) 897,63,70,672 | 124,000 | |
| 1.923 | Glotex Solutions Pvt. Ltd. | Jun/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 37 days (ii) 301 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The company is engaged in the business of engineered products and solutions, bearing NIC Code: 46599. The applicant company had received one inflow amounting to ₹99,980/- from non - resident investor Shri Kirtish Kantibhai Parikh, USA under automatic route. However, it had delayed the reporting of foreign inward remittance in Form ARF beyond the period of 30 days from the date of receipt of share application money and also there was a delay in reporting issue of shares in Form FC-GPR beyond the stipulated period of 30 days; as prescribed in paragraph 9 (1) (A) and paragraph 9 (1) (B) respectively of Schedule 1 to Notification No. FEMA 20/2000- RB dated May 3, 2000. | (i) 99,980 (ii) 99,980 | 4,999 | |
| 1.924 | Medcloud Software Solutions (I) Private Limited | Jun/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 1 months and 1 days. | The contravention sought to be compounded is that of issue of shares to the person resident outside India prior to receipt of the amount of consideration | The applicant company was incorporated on August 09, 2018 and is engaged in the business of providing data entry services. | 9,998,999 | 1,700 | |
| 1.925 | Mr Barry George Tyler | Jun/2019 | Acquisition and Transfer of Immovable Property | FEMA 21/2000-RB | Section 31(1) of FERA, 1973 and Regulation 8 of Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India) Regulations, 2000 notified vide Notification No. FEMA.21/2000-RB dated May 3, 2000 as amended from time to time. Section 31(1) of FERA, 1973 states that persons who are not citizens of India (whether resident in India or not) and companies (other than banking companies) which are not incorporated under any law in force in India are required to obtain prior permission of Reserve Bank to acquire, hold, transfer or dispose of by sale, mortgage, lease, gift, settlement or otherwise any immovable property situated in India. Further, Regulation 8 of Notification No. FEMA.21/2000-RB dated May 3, 2000, as amended from time to time, states that save as otherwise provided in the Act or Regulations, no person resident outside India shall transfer any immovable property in India. Provided that the Reserve Bank may, for sufficient reasons, permit the transfer, subject to such conditions as may be considered necessary. | 21 years 07 months and 08 days | Acquisition of immovable property in India without obtaining prior permission of the Reserve Bank of India | Mr Barry Tyler, a U.K national along with his wife has purchased House No. A9 Lui Beach apartments, Candolim, Goa for a total consideration of ₹2,46,000/- (Rupees Two lakh forty-six thousand only) vide sale deed dated April 11, 1997. The sale consideration was paid from the foreign exchange and the applicant has submitted a certificate dated April 7, 1999 issued by State Bank of India wherein it is mentioned that a total remittance of ₹ 11,40,422/- was received in three instances from January 3, 1995 to February 10, 1995 in Joint Saving Bank account of Mr Barry Tyler and Mrs. Carol Ann Tyler. The aforesaid acquisition of immovable property without Reserve Bank’s permission amounts to the contravention of Section 31(1) of FERA, 1973, also in the FEMA regime the applicant has neither informed nor taken the Reserve Bank’s approval for the acquisition and hence contravened the Regulation 8 of Notification No. FEMA.21/2000-RB dated May 3, 2000. | 246,000 | 738,000 | |
| 1.926 | Mr Raiomand Billimoria and Mrs Anita Nirody | Jun/2019 | Acquisition and Transfer of Immovable Property | FEMA 21/2000-RB | Regulation 8 of Notification No. FEMA-21/2000-RB dated May 03, 2000 states that save as otherwise provided in the Act or Regulations, no person resident outside India shall transfer any immovable property in India | 03 years 04 months and 22 days | The contravention sought to be compounded relate to acquisition of immovable property (agricultural land) in India by PIOs without RBI permission | The applicants, Mr. Raiomand Billimoria and Mrs. Anita Nirody, are Person(s) of Indian Origin ("PIOs") and are citizens of United States of America. The applicants are persons resident outside India within the meaning of section 2 (w) of the Foreign Exchange Management Act, 1999. The Applicants have purchased an immovable property (agricultural land) situated at Aldona, Bardez-Goa, bearing House No. 288, Survey No. 51/36 from Mr. Anil Rambhai Mistry & Mrs. Serafina Mistry by way of a Sale Deed dated January 20, 2015. The aforesaid immovable property in Gujarat was acquired by the applicants for a total consideration of ₹ 1,20,00,000/- (Rupees One crore and twenty Lakhs only) which was made from an NRE account bearing number 048410600000036 maintained with HDFC Bank, Hauz Khas. The said NRE account is in the joint name of the applicants. | 12,000,000 | 300,800 | |
| 1.927 | M/s Quanticate International Limited, Branch Office | Jun/2019 | Establishment of BO/LO/PO in India | RBI approval letter dated September 24, 2010 | contravention of Para 6 and Para 11 of RBI approval letter dated September 24, 2010 read with Para 3(ii) and 2 (i) of FED Master Direction No.10/2015-16 dated January 1, 2016 | 2 years 3 months and 27 days | payment of expenses of the Branch Office directly by the parent company to the third party | The applicant Quanticate International Ltd established a Branch Office in India with the permission of Reserve Bank of India vide letter No. FE.CO.FID/7508/10.83.318/2010-11 dated September 24, 2010. The Branch Office had an account with RBS Bank to carry out its transactions. After the closure of RBS operations in India, the Branch Office closed the account maintained with RBS on August 19, 2016 and opened a new bank account with Standard Chartered Bank on September 19, 2016. Though the BO was having an account with Standard Chartered Bank, the remittances of ₹.5,40,42,300/- (Rupees Five crore forty lakh forty two thousand and three hundred only) were made directly by the parent company of the BO to a third party account (SKP Tricor Corporate Service Pvt. Ltd.) for payment of expenses particularly their staff, landlord and supplier in India. Para 6 of the permission letter, referred to at para 2(a) above, states that the entire expenses of the office in India will be met either out of the funds received from abroad through normal banking channels or through income generated by it in India by undertaking permitted activities. | 54,042,300 | 246,169 | |
| 1.928 | Mindtree Limited | Jul/2019 | FDI | FEMA 20/2000-RB | In terms of Regulation 8(3) of Notification No.FEMA.20/2000-RB, which dealt with ‘Issue of shares under Employees’ Stock Options Scheme to persons resident outside India’, as then applicable, “The issuing company shall furnish to the Reserve Bank, within thirty days from the date of issue of shares under the scheme, a report…..”. Regulation 6B of the above mentioned Notification, “A company issuing right shares or bonus shares or warrants in terms of these Regulations shall report to the Reserve Bank in Form FC-GPR as stipulated in Paragraph 9(1)(B) of Schedule 1 to these Regulations”. | (i) 7 days (ii) 8 days | (i) delay in reporting the issuance of shares under the Employee Stock Options Plans (ESOP) beyond the stipulated time period (ii) delay in reporting the issuance of bonus shares beyond the stipulated time period | The applicant is an international information technology consulting and implementation company that delivers business solutions through global software development. The applicant company issued shares under ESOP (value - Rs. 1,96,00,000/-), to foreign nationals/ Non-resident Indians (NRIs), but delayed the reporting of the same, beyond the stipulated time period, in contravention of Regulation 8(3) of Notification No. FEMA 20/2000-RB | (i) 19600000 (ii) 4012500 | 24,750 | |
| 1.929 | Bhairav Kothari | Jul/2019 | ODI | FEMA 120/RB-2004 | Regulation 15(i) An Indian Party which has acquired foreign security in terms of the Regulation in Part I, shall receive share certificates or any other document as an evidence of investment in the foreign entity to the satisfaction of the Reserve Bank within six months…… Regulation 16(1) (iii) An Indian Party may transfer, by way of sale to another Indian Party which complies with the provisions of Regulation 6 above, or to a person resident outside India, any share or security held by it in a JV or WOS outside India subject to the following conditions: (iii) if the shares are not listed on the stock exchange and the shares are disinvested by a private arrangement, the share price is not less than the value certified by a Chartered Accountant / Certified Public Accountant as the fair value of the shares based on the latest audited financial statements of the JV/WOS | (i) 4 years and 2 months | (i) Nonsubmission of documentary evidence of investment within the stipulated time period (ii) Disinvestment with write off without arriving at the fair value. | The applicant, a resident individual, remitted SGD 1800 (Rs 91,972) during October 2013 towards setting up of an overseas wholly owned subsidiary (WOS) in Singapore. The overseas WOS, SuperCFO Services Pvt.Ltd was incorporated in October 2013. | 91,972 | 38,322 | |
| 1.930 | M/s. Astral (India) Pvt Ltd. | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3 months 16 days (ii) 2 months 11 days | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in filing Form FCGPR after issue of shares | The applicant company was incorporated on October 11, 2000 under the provisions of the Companies Act, 1956 (Registration No. U29210TN2000PTC071618) and is engaged in the business of manufacture of structural metal products, tanks, reservoirs and steam generators. | (i) 268879600 (ii) 268870000 | 21,450 | |
| 1.931 | Bisazza India Private Limited | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 253 days | The contravention sought to be compounded is delay beyond 60 days in submitting a report in the Form Foreign Currency Transfer of Shares (Form FCTRS) to Authorised Dealer bank (AD bank) for the transfer of shares from nonresident to resident | The company is engaged in “manufacture, trading and marketing of glass mosaic”, bearing NIC Code - 2008: 23109. The applicant has made foreign outward remittance equivalent to ₹16,80,00,000/- on May 25, 2017 to a “person resident outside India” - Bisazza SPA, Italy towards buyback of 35,00,000 shares and reported the same by filing Form FC-TRS | 168,000,000 | 85,000 | |
| 1.932 | M/s. Blend-Pro Chemicals India Pvt Ltd. | Jul/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 5 months | The contravention sought to be compounded is delay in refund of receipt of consideration | The applicant company was incorporated on July 16, 2018 under the provisions of the Companies Act, 2013 (Registration No. U24100TN2018FTC123707) and is engaged in the business of manufacture of other cement & plaster n.e.c. | 119,200 | 50,596 | |
| 1.933 | Bliss Inns Private Limited | Jul/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | (i) 5 days to 11 months and 9 days (ii) 1 months and 12 days to 10 months and 13 days (iii) 2 years, 1 months and 7 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (iii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the nward remittance | The applicant company was incorporated on June 10, 2010 and is engaged in the business of providing platforms for online booking of hotels and other short stay accommodations. | (i) 94539673 (ii) 18959070790 (iii) 27381908 | 207,373 | |
| 1.934 | M/s. Clearone Innovation India Pvt Ltd. | Jul/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | (i) 3 months 26 days (ii) 9 months 27 days | (i) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (ii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the nward remittance | The applicant company was incorporated on December 27, 2017 under the provisions of the Companies Act, 2013 (Registration No. U32109TN2017FTC120230) and is engaged in the business of manufacture of other electronic consumer goods n.e.c. | (i) 700000000 (ii) 3080000 | 87,526 | |
| 1.935 | M/s. Clear Touch Connect Pvt Ltd. | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 years 4 months 17 days (ii) 3 years 1 months 29 days (iii) 1 years 4 months 15 days .. | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (iii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the nward remittance | The applicant company was incorporated on October 28, 2015 under the provisions of the Companies Act, 2013 (Registration No. U74999TN2015PTC102744) and is engaged in the business of other telecommunication activities. | (i) 9548550 (ii) 9600000 (iii) 9548550 | 32,936 | |
| 1.936 | M/s Deeppura Hotels and Resorts Private Limited | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 47 days to 216 days (ii) 89 days to 521 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant was incorporated on March 03, 2010 under the provisions of the Companies Act, 1956 (Registration Number U55101RJ2010PTC031112) and is engaged in the business – Accommodation and Food Service Activities. The applicant received foreign inward remittances on various occasions between 2015 to 2018 from “Ms. Maria Grazia Baldan” (Italy) towards subscription to equity shares and reported the same to the Reserve Bank of India. | (i) 569281800000 (ii) 9030604500 | 186,920 | |
| 1.937 | Dharmpal Agarwal (for self and on behalf of Vineet Agarwal, Chander Agarwal, Urmila Agarwal, Priyanka Agarwal & Chandrima Agarwal) | Jul/2019 | ECB | FEMA 3/2000-RB | Regulation 3 of Notification No. FEMA 3/2000-RB states that, “Save as otherwise provided in the Act, Rules or Regulations made thereunder, no person resident in India shall borrow or lend in foreign exchange from or to a person resident in or outside India….” | 9 years and 6 months | The applicant (on his and others’ behalf) has sought to be compounded for availing of foreign currency loan overseas, for the purpose of purchasing property abroad | The applicant and the others, all resident individuals, jointly acquired a residential property in Singapore at a total cost of SG$ 3,032,320. While a portion of the cost i.e. SG$ 606,464 was met through remittances under LRS, remaining amount of SG$ 2,425,856 (INR 6,78,26,933/-) was paid by availing a loan from OCBC Bank, Singapore. The loan was availed on April 13, 2007. While remitting money under LRS for purchase of property is permitted, availing of foreign currency loan overseas for the purposes was not permitted and was in contravention of Regulation 3 of FEMA 3/2000-RB. | 67,826,933 | 558,702 | |
| 1.938 | Devesh Srivastava | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 3 months and 17 days | The contravention sought to be compounded is that of delay in refund of excess money received for transfer of shares | The applicant, a resident individual, on August 2, 2018, had transferred 5,17,900 equity shares of M/s Comac India Private Limited, a company engaged in the business of manufacture of other special-purpose machinery n.e.c., to M/s Comac SPA, Italy, a non-resident company. | 177,683 | 50,888 | |
| 1.939 | M/s. Edsix Brainlab Pvt Ltd. | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 12 days to 5 years 16 days (ii) 10 days to 4 years 10 months 16 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant company was incorporated on February 22, 2013 under the provisions of the Companies Act, 1956 (Registration No. U72900TN2013PTC089737) and is engaged in the business of computer consultancy and computer facilities management activities. | (i) 317312900 (ii) 309015992 | 45,400 | |
| 1.940 | Foresight IT Solutions and Consulting India Private Limited | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 8 years, 3 months and 17 days | The contraventions sought to be compounded are of taking on record in its books by the applicant company, the transfer of shares by residents to nonresident without obtaining certified form FCTRS from the AD bank | The applicant company, incorporated on November 6, 2008, is engaged in the business of providing IT consultancy and Information Technology processing and services in the fields of customer management. | 1,180,664,579 | 109,960 | |
| 1.941 | GMR Tenaga Operations and Maintenance Private Limited | Jul/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | months and 26 days | The contravention sought to be compounded is that of delay in issue of shares | The applicant had received inward remittance amounting to ₹2,50,000/- on June 6, 2018 from its foreign investor, M/s TNB Repair and Maintenance Sdn. Bhd., Malaysia and allotted 25,000 equity shares against it on October 31, 2018 with a delay of 2 months and 26 days beyond the prescribed period, in contravention of paragraph 2(2) of Schedule 1 to FEMA 20(R)/2017-RB, as then applicable. Whereas, in terms of paragraph 2(2) of Schedule 1 to FEMA 20(R)/2017-RB, capital instruments shall be issued to the person resident outside India making such investment within sixty days from the date of receipt of the consideration. | 250,000 | 51,250 | |
| 1.942 | M/s. Golden India Mines and Infrastructure Ltd., | Jul/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 5 days | The contravention sought to be compounded is delay in allotment of shares | The applicant company was incorporated on November 14, 2006 under the provisions of the Companies Act, 1956 (Registration No. U14102TN2006PLC061503) and is engaged in the business of quarrying of stone, sand and clay. The applicant received two foreign inward remittances of ₹31,81,500.00 and ₹5,32,551.00 on 10.07.2018 and 10.09.2018 respectively from M/s Hayat Capital Ltd., United Kingdom towards subscription to equity shares. Against the above remittances the company allotted shares on 13.09.2018 and filed the FC GPR with Reserve Bank. | 3,181,500 | 65,908 | |
| 1.943 | M/s. Govivace Research and Software Services India Private Limited | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 years 10 months 7 days (ii) 6 years 7 months 4 days (iii) 7 years viz, 2011-12 to 2017-18 with 11 months 26 days to 6 years 11 months 26 days | (i) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (ii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the nward remittance (iii) delay in filing the Annual Return on Foreign Liabilities and Assets | The applicant is a resident company incorporated as Private Limited Company under the Companies Act, 1956 on June 22, 2011 (CIN: U72200TG2011PTC075136). The company is engaged in the business of “Promotion of Research & Software Services and to implement software development”. | (i) 99990 (ii) 47070 | 110,327 | |
| 1.944 | M/s. GSR Business Services Pvt Ltd | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 2 years 11 months 1 days | The contravention sought to be compounded is taking on record the transfer of shares in the books of the company without certified FCTRS | The relevant facts of the case are as follows: The applicant company was incorporated on August 08, 2007 under the provisions of the Companies Act, 1956 (Registration No. U72200TN2007PTC064415) and is engaged in business of writing, modifying, testing of computer program to meet the needs of a particular client excluding web page designing. | 5,092,000 | 31,000 | |
| 1.945 | M/s. Husqvarna (India) Products Pvt Ltd. | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 10 years 18 days (ii) 10 years 6 months 2 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant company was incorporated on July 30, 2007 under the provisions of the Companies Act, 1956 (Registration No. U74999TN2007FTC112630) and is engaged in the business of wholesale of machinery, equipment and supplies. | (i) 10000000 (ii) 10000000 | 40,660 | |
| 1.946 | K&L Communications India Private Limited | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 10 years, 8 months and 17 days (ii) 10 years, 7 months and 24 days (iii) 3 years, 11 months and 22 days (iv) financial years 2007-2008 to 2014-2015 | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (iii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the nward remittance (iv) delay in filing the Annual Return on Foreign Liabilities and Assets | The applicant company was incorporated on October 24, 2007 as M/s K & L Arms Communication Private Limited. The name of the company was changed to M/s K&L Communications India Private Limited on March 19, 2019 (after submission of the compounding application). The company is engaged in the business of advertising | (i) 509730 (ii) 500000 (iii) 9730 | 125,312 | |
| 1.947 | Krishna Super Specialty Optical Clinics Pvt Ltd | Jul/2019 | ODI | FEMA 120/RB-2004 | Delay in reporting | (i) 3 years (ii) 45 months (iii) 36 months | (i) Delay in submission of APRs within the stipulated time period (ii) Delay in submission of ODI Form Part I (iii) Method of Funding of ODI through debit card, which is not a permitted method of funding under the extant Regulations. | The applicant is engaged in the business of Optical trading, e-commerce etc. The applicant set-up a wholly owned subsidiary (WOS), Krishna Corporation limited, a newly incorporated company in the year 2014. The official of the applicant who was in Hong Kong deposited HKD 10,000 towards the issue of shares to the applicant company on July 14, 2014. The applicant reported Form ODI part I for the transaction, with delay in March 28, 2018 which is not in compliance | (i) 86000 (ii) 86000 (iii) 86000 | 62,317 | |
| 1.948 | Kore Communities India Private Limited | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 days to 5 months and 7 days (ii) 1 days to 6 months and 14 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant company, incorporated on May 3, 2012, is engaged in the business of construction of buildings carried out on own-account basis or on a fee or contract basis. | (i) 170094040 (ii) 378277290 | 256,360 | |
| 1.949 | Lamons Gasket and Bolt India Private Limited | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 8 months & 12 days and 9 months & 22 days (ii) 29 days and 11 months & 22 days (iii) 6 months and 22 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (iii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the nward remittance | The applicant company, incorporated on July 29, 2011, is engaged in the business of manufacture of metallic, semi metallic and non-metallic industrial gaskets, seals, fasteners including studs, headed parts, nuts, washers and bolts, precision tools and precision machined parts, flange accessories etc. | (i) 79494920 (ii) 13777691529 (iii) 6394910 | 173,495 | |
| 1.950 | Manoj Kalra | Jul/2019 | ODI | FEMA 120/RB-2004 | Delay in reporting | 1 years 1 months | (i) delay in filing Form ODI with respect to overseas investments made and making overseas direct investment without issuance of Unique Identification Number (UIN) (ii) nonsubmission of Annual Performance Reports (APR) within the stipulated time period (iii) nonreceipt of share certificates within the stipulated time period | The applicant Mr. Manoj Kalra is a resident individual. The applicant remitted HKD 3,500 (Rs. 28,889/-) on 26.02.2015 towards the equity capital of the overseas entity viz., Allyquantum Ltd in Hong Kong. Form ODI Part I for the above transaction was submitted to AD Bank with delay on 21.04.2016, thereby contravening Regulation 20A read with Para D(1) of Schedule V of Notification No. FEMA 120. The APRs for the years 2016 (on 26.02.2018) and 2017 (on 17.01.2019), were submitted with delay beyond the stipulated time period, thereby contravening Regulation 20A read with Para D(3) of Schedule V and Regulation 15(iiii) of Notification No. FEMA 120. However, since Ms. Shobha Kalra, the majority stakeholder, is being compounded for this contravention, the applicant is not required to be compounded for the same, as the onus of filing the APRs is on any one of the investor. During the personal hearing it was also observed that the resident individual had received share certificates for the remitted amount within the time frame of six-months as prescribed by the Reserve Bank of India as required under Regulation 20A read with paragraph D(3) of Schedule V further read with Regulation 15(i) of the Notification ibid. Though the applicant has applied for compounding the contravention of the aforesaid regulation, it is observed that it is not a contravention of the Regulation ibid and hence it does not require to be compounded. | 28,889 | 3,130 | |
| 1.951 | MCML Systems Private Limited | Jul/2019 | ODI | FEMA 120/RB-2004 | Delay in reporting | (i) 2008 to 2013 (ii) 4 years and 1 months | (i) nonsubmission of Annual Performance Reports (APR) within the stipulated time period (ii) disinvestment (with writeoff), without prior approval and without submission of all the APRs | The applicant company is engaged in the business of designing, construction, installation and commissioning of railway signaling, tracks and structures and overhead electrification for railways. | (i) 12446900 (ii) 12446900 | 197,128 | |
| 1.952 | Lulu and Sky Brands Private Limited | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3 months and 1 months & 21 days. (ii) 1 months and 13 days | (i) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (ii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the nward remittance | The applicant company, incorporated on May 26, 2016, is engaged in activities of other commission agents, n.e.c. (including commission agents working in emerging areas for wholesale trade). | (i) 4800000000 (ii) 34875000 | 82,744 | |
| 1.953 | Medicamen Biotech Limited | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3 days. (ii) 2 months and 26 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant company, incorporated on December 22, 1993, is engaged in the business of manufacture of pharmaceutical products. | (i) 5460000 (ii) 21840000 | 85,042 | |
| 1.954 | Meenakshi Ramesh and Ramesh Mangaleshwaran | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 9 months and 27 days | The contravention sought to be compounded is of delay in reporting transfer of shares from Resident to NonResident in Form FCTRS | The applicants, both resident individual, had transferred 285 equity shares of M/s Rivigo Services Private Limited, a resident company, held by them to Mark Schwartz, USA, a non-resident individual, on September 13, 2017 for a consideration of ₹5,65,32,785.25 (Rupees Five Crore Sixty Five Lakh Thirty Two Thousand Seven Hundred Eighty Five and Paise Twenty Five only) received on September 13, 2017. The applicants reported the transfer of said shares in Form FC-TRS on September 8, 2018. There was, thus, a delay of 9 months and 27 days in reporting the transfer of shares beyond the prescribed time period of 60 days from the date of receipt of the amount of consideration. | 5,653,278,525 | 51,500 | |
| 1.955 | Mobihive Technologies Private Limited | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 98 days (ii) 112 days to 348 days (iii) financial years 2015-16 and 2017-18 | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (iii) delay in filing of FLA returns | The applicant company was incorporated on July 11, 2014 under the Companies Act 2013. The applicant is engaged in activities of data processing, hosting and related activities. | (i) 430426250 (ii) 528015620 | 5,657,800 | |
| 1.956 | M/s AAKAR INNOVATIONS PRIVATE LIMITED | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 108 days to 1190 days (ii) 1430 days to 1288 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant is in the business of Manufacture of other Special-purpose Machinery (NIC Code 2008 - 28299). | (i) 310000000 (ii) 310000000 | 48,125 | |
| 1.957 | M/s. Al-Sami Agro Products Private Limited | Jul/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | (i) 5 days to 1 months 29 days . (ii) 1 years 6 months 7 days to 1 years 9 months 7 days . (iii) 3 years 5 months 15 days to 3 years 6 months 14 days (iv) 4 years viz 2014-15 to 2017-18, with 8 months 27 days to 3 years 8 months 27 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (iii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the nward remittance (iv) delay in filing the Annual Return on Foreign Liabilities and Assets | The applicant is engaged in the activity of Raising of other animals, n.e.c. | (i) 78594582 (ii) 84856100 (iii) 30191300 | 505,411 | |
| 1.958 | M/s MAINLAND ENGINEERING PRIVATE LIMITED | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1182 days | The contraventions sought to be compounded is for delay in submission to the Reserve Bank of Form FCGPR after issue of shares to a person resident outside India beyond the stipulated 30 days | The applicant is in the business of forging, pressing, stamping and roll-forming of metal; powder metallurgy (NIC Code 2008 - 25910). | 3,000,000 | 18,333 | |
| 1.959 | M/s Process360 Pvt Ltd | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3 months 28 days (ii) 63 days to 81 days (iii) 9 months 28 days to 1 years 9 months 28 days | (i) delay in submission of Form FCGPR to the Reserve Bank after issue of shares towards subscription to equity to a person resident outside India (ii) delay in receipt of consideration after allotment of shares towards MoA (iii) delay in filing of FLA returns | The company is engaged in other information Service activities n.e.c. | (i) 95 000 (ii) 95 000 | 23,410 | |
| 1.960 | M/s Champion Infometrics Private Limited | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3 days to 1 years and 6 days (ii) 13 days to 1 years 2 months and 14 days (iii) 5 months and 7teen days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the nward remittance (iii) delay in submission of form FCGPR to the Reserve Bank | The company is engaged in the business of providing Information Technology Consulting Services to its clients. | (i) 3817858140 (ii) 1093752840 (iii) 3960000000 | 133,788 | |
| 1.961 | M/s Conecc Concrete Solutions Private Limited | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 years and 1 days to 1 years and 5 days (ii) 1 years 5 months and 8 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant, M/s. Conecc Concrete Solutions Private Limited, was incorporated on June 10, 2016, under the Companies Act, 2013, as per the Certificate of Incorporation issued by the Central Registration Centre, Government of India, Ministry of Corporate Affairs. The activity undertaken by the company is manufacturing, selling, purchasing, etc., of construction materials. | (i) 2768425000 (ii) 2768424000 | 203,000 | |
| 1.962 | M/s Eatgood Technologies Private Limited | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 6 months and 6 days to 10 months and 6 days (ii) 1 months and 9 days to 1 years 4 months and 6 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The activity undertaken by the company is developing and servicing of web applications catering to industries, and planning, operating and managing services catering to logistics of food and beverages. | (i) 4614629200 (ii) 4614422300 | 212,000 | |
| 1.963 | M/s Intuitech Tool Company India Private Limited | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (I) 10 months and 1 days to 4 years 7 months and 8een days (ii) 2 years 2 months and 6 days to 11 years 5 months and twenty 3 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the nward remittance | The company is engaged in the business of manufacturing, buying, selling, exporting, importing, assembling, overhaul post sales maintenance, etc., and improving of all kinds of mechanical devices, appliances and equipments. | (i) 632422045 (ii) 633887595 | 120,823 | |
| 1.964 | M/s Komtech Plastic Technologies India Private Limited | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 days to 1 years 10 months and 5 days (ii) 4 months and 27 days to 9 months and 7teen days (iii) 1 days to 1 years 7 months and 8 days. | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the nward remittance (iii) delay in submission of form FCGPR to the Reserve Bank | The company is engaged in the business of manufacturing, selling, importing and exporting of all kinds of plastics, thermoplastics, and PVC products. | (i) 5726932300 (ii) 721718500 (iii) 3533729000 | 114,251 | |
| 1.965 | M/s Oryana Ventures Private Limited | Jul/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | (i) 8 months and 1 days to 9 months and 12 days (ii) 1 years 1 months and twenty days to 1 years 2 months and 13 days. | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The activity undertaken by the company is to provide consultancy and advisory services in various fields, and manufacturing, supplying, erecting and commissioning of water and waste water effluent treatment systems & plants. | (i) 6479232000 (ii) 6479232000 | 130,560 | |
| 1.966 | M/s Pronk Multiservice India Private Limited | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3 days to 1 years 6 months and 3 days (ii) 2 days to 1 years 2 months and 6teen days (iii) 1 days to 1 months and 26 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the nward remittance (iii) delay in submission of form FCGPR to the Reserve Bank | The company is engaged in the business of manufacturing of wooden boxes, barrels, vats, tubs, packing cases, etc. | (i) 1139730400 (ii) 2721503400 (iii) 8346935000 | 189,456 | |
| 1.967 | M/s Sorting Hat Technologies Private Limited | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 9 days (ii) 1 years 10 months and 5 days (iii) 4 months and 3 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the nward remittance (iii) delay in submission of form FCGPR to the Reserve Bank | The company is engaged in the business of providing software and Information Technology services to its clients. | (i) 597600577 (ii) 1788577 (iii) 595812000 | 26,803 | |
| 1.968 | M/s Suhner India Private Limited | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 days to 4 months and 15 days (ii) 1 days to 8 months and 3 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The activity undertaken by the company is manufacturing of flexible shaft, abrasive power tools and machine tools for drilling, milling and tapping. | (i) 2069438247 (ii) 4747746000 | 63,330 | |
| 1.969 | M/s UL India Private Limited | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 days to 4 months and 19 days (ii) twenty 3 days to 1 years and 14 days (iii) 1 days to 5 months and 26 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the nward remittance (iii) delay in submission of form FCGPR to the Reserve Bank | The company is engaged in the business of providing product safety testing, certification and inspection of equipment, machinery systems, etc. | (i) 27657551000 (ii) 3272681632 (iii) 67436639642 | 247,909 | |
| 1.970 | M/s VOXTBV India Private Limited | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 9 days to 4 years 7 months and 6teen days (ii) 3 years 1 months and 12 days to 3 years 10 months and 26 days (iii) 1 days to 3 years 1 months and 27 days. | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the nward remittance (iii) delay in submission of form FCGPR to the Reserve Bank | The company is engaged in the business of providing solutions for IT infrastructure management, security, surveillance, assembly, sales and service of digital voice loggers and trading of headsets and IT peripherals. | (i) 38442506046 (ii) 290000000 (iii) 42986660000 | 1,819,645 | |
| 1.971 | mykaarma.com India Private Limited | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 5 years, 7 months and 5 days (ii) 6 years and 1 months (iii) 5 months and 5 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of form FCGPR to the Reserve Bank (iii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the nward remittance | The applicant company, incorporated on May 23, 2012, is engaged in the business of providing software support and maintenance. | (i) 50067371 (ii) 500000 (iii) 500000 | 74,590 | |
| 1.972 | M/s Nadielabs Software Services Private Limited | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 6 years 2 months 22 days | The contravention sought to be compounded is delay in submission of Form FCGPR on allotment of shares to Reserve Bank | The applicant company was incorporated on October 17, 2011 under the provisions of the Companies Act, 1956 (Registration No. U72900TN2011PTC082760) and is engaged in the business of providing software support and maintenance to the clients. | 98,000 | 16,250 | |
| 1.973 | Neha Kirpal | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 5 months and 19 days | The contravention sought to be compounded is of delay in reporting the transfer of shares in form FCTRS beyond the stipulated period | The applicant, a resident individual, had transferred 7,499 equity shares of M/s Flint Public Relations Private Limited, a company engaged in the business of management consultancy activities, to M/s Flint Public Relations Limited, U.K., a non-resident company, on May 30, 2017 for a consideration of ₹49,56,839/- (Rupees Forty Nine Lakh Fifty Six Thousand Eight Hundred and Thirty Nine only) received on May 30, 2017. The applicant reported the said transfer of shares in form FC-TRS on January 17, 2018 with a delay of 5 months and 19 days beyond the prescribed period | 4,956,839 | 13,500 | |
| 1.974 | Newgen Digital Works Private Limited | Jul/2019 | ODI | FEMA 120/RB-2004 | Delay in reporting | (i) 6 years (ii) 4 years 2 months (iii) 2 years (iv) years 2011 to 2016 and 2018 | (i) acquisition of equity stake in a step down subsidiary (SDS) in India, through JV/WOS, without reporting prior RBI approval (ii) delay in filing Form ODI with respect to reporting of issuance of the SBLC (iii) delay in receipt of share certificates beyond the stipulated time period (iv) delay in submission of Annual Performance Reports (APR) beyond the stipulated time period | The applicant was incorporated as E-Pagemaker Private Limited (CIN U72300TN1993PTC024500), under the Companies Act, 1956, on 01.03.1993. Under the Scheme of merger sanctioned by Honorable High Court of Madras, on 29.04.2016, E-Pagemaker Private Limited merged with Newgen Knowledge Works Private Limited (NKWPL), an Indian Company incorporated on 15.09.2004. Pursuant to the merger, the applicant company came to be known as Newgen Digital Works Private Limited with effect from 05.08.2016. The applicant is engaged in the business of development and maintenance of corporate websites and other information technology enabled services. One of the Indian subsidiaries of NKWPL, namely, Newgen Imaging Systems Private Limited (NISPL), acquired 76% stake in an overseas Joint Venture (JV), namely, Global Publishing Solutions Limited (GPSL) in United Kingdom (UK), on 24.09.2007. Subsequently, on 10.03.2009, GPSL, UK acquired the entire holding of GPSL India Private Limited from its Indian promoters. After this share transfer, GPSL, UK held 10,000 shares (valuing Rs. 1,00,000/-) in GPSL India Private Limited. Thereafter, NISPL was merged with NKWPL with effect from 01.04.2009, resulting in transfer of investments in GPSL, UK and GSPL, India by NISPL to NKWPL. NKWPL and E-Pagemaker Private Limited have now merged to form the applicant company, as stated above. NKWPL failed to report the acquisition of its stake in GPSL India through GPSL, UK, after it merged with NISPL. This led to existence of FDI through ODI structure, without prior approval of RBI, in contravention of Regulation 5 read with 13 of Notification No. FEMA 120/2004-RB, till the winding up of the Indian subsidiary on 18.02.2015. | (i) 100000 (ii) 67975000 (iii) 5480300 | 359,083 | |
| 1.975 | NGP Advisors India Private Limited | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 4 months and 3 days to 11 months and 18 days. (ii) 6 months and 28 days to 7 months and 6 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant company was incorporated on June 26, 2009 and is engaged in the business of management consultancy activities | (i) 2355731506 (ii) 23556890 | 80,010 | |
| 1.976 | Orianaa Decorpack Private Limited | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 68 to 173 days | The contravention sought to be compounded is delay beyond 30 days in submitting report in Form FCGPR to the Reserve Bank, through Authorised Dealer bank (AD bank), after the date of issue of shares to persons resident outside India, | The company is engaged in “manufacture of other plastic products”, bearing NIC Code - 2008: 22209. | 22,493,354 | 16,825 | |
| 1.977 | M/s. Palvai Solar Energy Pvt Ltd | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 13 days (ii) 7 months 9 days (iii) financial years 2014-15, 2015-16, 2016-17 and 2017-18 | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (iii) delay in filing the annual return in respect of the Foreign Liabilities and Assets | The company is engaged in electric power generation using solar energy. | (i) 72959416 (ii) 72959400 | 97,500 | |
| 1.978 | M/s. Qriyo Infolabs Private Limited | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 days to 275 days (ii) 127 days to 410 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant was incorporated on January 22, 2016 under the provisions of the Companies Act, 2013 (Registration Number U74900RJ2016PTC049137) and is engaged in the business - Standardised market place for services predominantly in the field of extra-curricular activities and other learning. | (i) 20244471 (ii) 1989986605 | 40,490 | |
| 1.979 | Red Education India Pvt. Ltd. | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 5 years 10 months and 6 days | The contravention sought to be compounded is adjustment of invoice amount against initial subscription capital by the applicant/Indian company without prior approval of the Reserve Bank and delay in reporting the allotment of shares in Form FCGPR to the Reserve Bank | the applicant was incorporated as Red Education India Private Limited under the Companies Act, 1956, on December 13, 2011. Red Education PTY Ltd., the holding company raised an invoice against the services provided to the applicant company. It was decided by the holding company and the applicant to adjust the invoice amount against initial subscription capital. Accordingly, the allotment of 10,000 shares for an amount of 1,00,000 was done without the approval of Reserve Bank in contravention of Regulation 4 of FEMA 20. Further, the applicant company submitted Form FCGPR with a delay of 5 years 10 months and 6 days thereby, contravening Para 9(1) (B) of Schedule 1 read with Regulation 5(1) of FEMA 20. | 100,000 | 66,583 | |
| 1.980 | Rivigo Employee Stock Options Trust | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 years and 7 months. | The contravention sought to be compounded is of delay in reporting transfer of shares from NonResident to Resident in Form FCTRS | The applicant, a resident trust, had acquired 380 equity shares of M/s Rivigo Services Private Limited, a resident company, from M/s Saif Partners India V Ltd, Mauritius, a non-resident company on December 29, 2016 for a consideration amount of ₹380/- (Rupees Three Hundred and Eighty only) paid on December 29, 2016. The applicant reported the transfer of the said shares in Form FC-TRS on September 26, 2018. There was, thus, a delay of 1 year and 7 months in reporting the transfer of shares beyond the prescribed time period of 60 days from the date of payment of the amount of consideration. | 380 | 30 | |
| 1.981 | Mr. S Joseph Arokiaraj | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 5 days | The contravention sought to be compounded is of delay in reporting transfer of shares from NonResident to Resident in Form FCTRS | The applicant sold 150000 equity shares of ₹10/- each at a negotiated price of ₹10/- to the Non-Resident shareholder M/s. Ammeraal Beltech Internat, Beheer, Netherlands. The applicant reported the transfer in form FC-TRS to the Authorised Dealer bank | 148,465,821 | 10,200 | |
| 1.982 | Salaya Bulk Terminals Limited | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 792 days | The contravention sought to be compounded is delay beyond 30 days in submitting report in Form FCGPR to the Reserve Bank, through AD bank, after the date of issue of shares to persons resident outside India | The company is engaged in the service activities incidental to water transportation, bearing NIC Code - 2008: 52220. | 130,926,580 | 235,000 | |
| 1.983 | M/s Abreakplease Holidays & Leisures Private Limited | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y 0M 14D to 0Y 6M 18D (ii) 0Y 0M 26D to 0Y 6M 5D | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant company is engaged in the business of travel agents and tour operators | (i) 2999455 (ii) 1749455 | 21,958 | |
| 1.984 | M/s Adena Cosmetics Private Limited | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 11Y 1M 0D (ii) 9Y3M6D . | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant company is engaged in the business of Manufacture of cosmetics | (i) 5027840 (ii) 5026875 | 163,500 | |
| 1.985 | M/s Adonia Cosmetics Private Limited | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 11Y 1M 0D (ii) 9Y3M6D . | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant company is engaged in the business of Manufacture of cosmetics | (i) 7581040 (ii) 7583400 | 163,500 | |
| 1.986 | M/s Allenwest Ampcontrol India Pvt Ltd | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y 0M 3D to 1Y 8M 14D (ii) 0Y1M5D to 0Y 6M 23D . (iii) 0Y3M30Dto 1Y 2M 25D | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (iii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the nward remittance | The applicant company is engaged in the business of Manufacture of electricity distribution and control apparatus (electrical apparatus for switching or protecting electrical circuits | (i) 12100000 (ii) 12100000 (iii) 18323092 | 149,594 | |
| 1.987 | M/s Avalon Cosmetics Pvt. Ltd | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 11Y 1M 0D (ii) 9Y3M6D . | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant company is engaged in the business of Manufacture of cosmetics | (i) 3535200 (ii) 3534868 | 71,250 | |
| 1.988 | M/s Berkler Health Care Services Private Limited | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) i 13 days. (ii) 15 days (iii) 2 months 24 days to 7 years 10 months 3 days. | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (iii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the nward remittance | The applicant is a company registered as a private limited company, incorporated on February 22, 2007 under the Companies Act, 1956 (CIN:U85193GA2007PTC005095) with the main object of undertaking the business of Health Care (NIC code: 86909). | (i) 418478 (ii) 100000 (iii) 593458 | 60,261 | |
| 1.989 | M/s Brinton Pharmaceuticals Limited | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y2M12D to 0Y8M3D (ii) 0Y 1M 5D . | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant company is engaged in the business of Manufacture of medicinal substances used in the manufacture of pharmaceuticals: antibiotics,endocrineproducts,basicvitamins;opiumderivatives; sulpha drugs; serums and plasmas;salicylicacid,itssaltsandesters;glycosidesandvegetable alkaloids; chemically pure suger etc. | (i) 265347132 (ii) 145334880 | 124,167 | |
| 1.990 | M/s DgNote Technologies Private Limited | Jul/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 0Y0M1D to 0Y0M9D | Para2(2) of FEMA 20R Neither the equity instruments were issued, nor the money refunded to the foreign investor within 60days/75days (as applicable) from the receipt of the inward remittance | The applicant company is engaged in the business of Supporting Transport Activities. | 8,435,067 | 102,719 | |
| 1.991 | M/s Dsquare Tech Impex Pvt Ltd | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y 9M 12D to 0Y 9M 13D (ii) of 1Y2M11D . | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant company is engaged in the business of Manufacturing of Construction Equipments | (i) 2458776 (ii) 2458770 | 25,625 | |
| 1.992 | M/s Gurnani Metals Private Limited | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y2M10D (ii) 1Y1M17D | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant company is engaged in the business of Manufacturing of other fabricated metalproducts;metalworking service activities | (i) 3273195 (ii) 3273020 | 24,167 | |
| 1.993 | M/s Indeus Life Sciences Pvt Ltd | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y 0M 19D to 1Y 1M 26D (ii) 0Y 0M 19D to 0Y 9M 4D . (iii) 0Y0M 10D to 0Y 3M 10D . | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (iii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the nward remittance | The applicant company is engaged in the business of Pharmaceutical product formula development, analytical method development, stability studies and final dossier prepartion for submission there of to regulatory authorities | (i) 70653819 (ii) 200847096 (iii) 29671589 | 311,643 | |
| 1.994 | M/s Navis Capital (India) Pvt Ltd | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y 1M 5D to 1Y 1M 2D (ii) 0Y3M7D to 0Y 9M 21D . | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the nward remittance | The applicant company is engaged in the business of Management Consultancy Services | (i) 810000 (ii) 201543474 | 178,682 | |
| 1.995 | M/s OpenMarket Services India Private Limited | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1Y11M1D | Delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant company is engaged in the business of Computer consultancy and computer facilities management activities | 19,971 | 110,000 | |
| 1.996 | M/s Processia PLM Pvt Ltd | Jul/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 12Y 9M 26D to 12Y 11M 27D . (ii) 12Y11M22D . | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant company is engaged in the business of Other Information Technologies and Computer Service Activities | (i) 5123655 (ii) 5123650 | 207,875 | |
| 1.997 | Shri. Kamaldeep Singh Grover | Aug/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 2 months 19 days | The contravention sought to be compounded is delay in allotment of shares | The applicant company was incorporated on June 27, 2016 under the provisions of the Companies Act, 2013 (Registration No. U55209TN2016PTC111146) and is engaged in the business of provision of short stay accommodation n.e.c. | 7,237,466 | 86,187 | |
| 1.998 | M/s Agmehra Private Limited | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 408 days (ii) 547 days to 636 days (iii) 1 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (iii) delay in issue of shares beyond 180 days | The applicant company was incorporated on April 19, 2017 under the Companies Act 2013. The applicant is engaged in manufacture of disinfectants (for agricultural and other use). | (i) 225000000 (ii) 225000000 (iii) 4500000 | 9,271,000 | |
| 1.999 | Anglepoint India Private Limited | Aug/2019 | FDI | FEMA 20/2000-RB | paragraph 2(2) of Schedule 1 to FEMA 20(R)/2017-RB, capital instruments shall be issued to the person resident outside India making such investment within sixty days from the date of receipt of the consideration. | 1 months & 7 days and 2 months & 27 days | The contraventions sought to be compounded are those of allotment of shares to person resident outside India prior to receipt of the amount of consideration | The applicant company was incorporated on August 28, 2018 and is engaged in the business of providing IT enabled services to its parent company in USA and across thr globe. | 1,000,000 | 55,000 | |
| 2.000 | Mr. Arulraj Lenin Selvaraj | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 years 1 months 16 days | The contravention sought to be compounded is delay in reporting the transfer of shares from resident to nonresident i.e., delay in submission of FCTRS | The applicant, an individual by name Mr. Arulraj Lenin Selvaraj, is a resident shareholder in the company M/s. GCI Healthcare Pvt Ltd. Arulraj Lenin Selvaraj, the resident seller received a consideration of ₹50,045.00 on November 21, 2017 from a non-resident buyer, M/s. GCI Health Ltd., Malaysia, towards transfer of 5000 shares of M/s. GCI Healthcare Pvt Ltd. The transfer did not take place and the applicant refunded the consideration | 50,045 | 2,828 | |
| 2.001 | Ashmore Investment Management India LLP | Aug/2019 | FDI | FEMA 20/2000-RB | Regulation 5(9) of FEMA 20/2000-RB states that, “A person resident outside India (other than a citizen of Pakistan or Bangladesh) or an entity incorporated outside India, (other than an entity in Pakistan or Bangladesh), not being a registered Foreign Institutional Investor or Foreign Venture Capital Investor or Qualified Foreign Investor registered with SEBI or Foreign Portfolio Investor registered in accordance with SEBI guidelines, may contribute foreign capital either by way of capital contribution or by way of acquisition/ transfer of profit shares in the capital structure of an LLP under Foreign Direct Investment, subject to the terms and conditions as specified in Schedule 9.” Further, in terms of Paragraph 7(i) and Paragraph 6(i) of Schedule 9 of the abovementioned regulations, Regulation 13.1(7) of FEMA 20(R)/2017-RB and AP (DIR Series) Circular No.123 dated April 16, 2014 an LLP receiving amount of consideration for capital contribution shall submit Form LLP (I) to the Regional Office of the Reserve Bank under whose jurisdiction the Registered Office of the LLP is situated, within 30 days from the date of receipt of the amount of consideration. | 10 months | The applicant has sought to be compounded for delay in reporting the receipt of remittance for consideration received towards capital contribution, beyond the stipulated time period of 30 days | The applicant is a Limited Liability Partnership incorporated between Ashmore Investments (India) Limited (entity incorporated in Mauritius), Ashmore Investment Management India LLP, Mr. Ashwini Agarwal and Ms Rashi Bhatia Srinivasan as partner. The Applicant received foreign inward remittance as capital contribution from Ashmore Investments (India) Limited, Mauritius. Delay in reporting of receipt of capital contribution by an LLP in Form LLP (I) beyond 30 days was in | 5,100,000 | 15,833 | |
| 2.002 | B2B Travel Agency India Private Limited | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 years, 3 months and 10 days to 1 years and 5 months (ii) 1 years, 4 months & 2 days and 1 years, 3 months & 9 days. | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in filing Form FCGPR after issue of shares | The applicant company was incorporated on December 14, 2016 and is engaged in the business of travel agency activities. | (i) 332541350 (ii) 3325400 | 30,910 | |
| 2.003 | Brown-Forman India Private Limited | Aug/2019 | FDI | FEMA 20(R)/2017-RB | paragraph 2(2) of Schedule 1 to FEMA 20(R)/2017-RB, an Indian company accepting FDI has to receive the share application money from the non-resident investor prior to the allotment of shares, and the shares have to be issued within 60 days from the date of receipt of inward remittance. | 5 months & 14 days and 5 months & 21 days | The contraventions sought to be compounded are those of allotment of shares to persons resident outside India prior to receipt of inward remittance | The applicant company, incorporated on April 6, 2018, is engaged in the business of retail sale of alcoholic beverages not consumed on the spot. | 500,000 | 52,501 | |
| 2.004 | M/s Cam Pak India Private Limited | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2Y5M26D to 3Y 10M 8D . (ii) 2Y 0M 10D to 3Y 9M 0D (iii) 0Y5M24D to 1Y1M 25D . | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (iii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the nward remittance | The applicant company, incorporated on December 11, 2014, is engaged in the Packaging activities business | (i) 34965000 (ii) 34964500 (iii) 34865010 | 489,577 | |
| 2.005 | Compact India Private Limited | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 4 days to 2 years, 8 months and 8 days (ii) 1 months and 22 days to 1 years, 4 months and 6 days. (iii) 1 months and 15 days to 11 months and 24 days. | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (iii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the nward remittance | The applicant company, incorporated on May 30, 2008, is engaged in the business of manufacture and export of ready to use supplementary and therapeutic food product made with peanuts (edible nuts). | (i) 36364999995 (ii) 380716730 (iii) 5232062995 | 824,982 | |
| 2.006 | Dilip Kapur | Aug/2019 | FDI | FEMA 20/2000-RB | Regulation 10 A(a)(i) of Notification No. FEMA 20/2000-RB, a person resident in India who proposes to transfer to a person resident outside India any security by way of gift shall make an application to Reserve Bank for its approval. | 5 years 1 months 14 days | The contravention sought to be compounded is transfer of shares from resident to nonresident by way of gift without Reserve Bank’s approval | The applicant, an individual by name Dilip Kapur, is a resident shareholder in the company M/s. Hidesign India Pvt Ltd., a private limited company. The resident shareholder has transferred 180 equity shares of face value ₹10/- each to non-resident, Vikas Keys Kapur, USA on April 21, 2014 at a notional value of ₹10,626/- | 1,912,680 | 22,925 | |
| 2.007 | M/s FZE Food Analysts Private Limited | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y 1M 27D (ii) 0Y2M14D to 0Y7M5D . (iii) 0Y2M9D to 1Y2M 4D . | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (iii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the nward remittance | The applicant company is engaged in the Other human health activities n.e.c. including independent ambulance activities | (i) 770436 (ii) 700000 (iii) 170436 | 52,086 | |
| 2.008 | M/s Graphus Cyber Security India Pvt Ltd | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) Y2M24D (ii) 0Y2M17D to 0Y10M 16D . | (i) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (ii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the nward remittance | The applicant company is engaged in the Operation of websites that use a search engine to generate and maintain extensive databases of internet addresses and content in an easily searchable format | (i) 199990 (ii) 210060 | 42,107 | |
| 2.009 | M/s. Haxakata Pvt Ltd. | Aug/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | (i) 13 days (ii) 5 months 26 days . | The contraventions sought to be compounded are delay in allotment of shares and delay in refund of excess consideration | The applicant company was incorporated on October 08, 2018 under the provisions of the Companies Act, 2013 (Registration No. U74999TN2018FTC125148) and is engaged in the business of providing software support and maintenance to the clients. | (i) 330145669 (ii) 1266589 | 67,115 | |
| 2.010 | Indian Transelectric Company Limited | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 21 days to 2 years, 11 months and 5 days. (ii) 1 years, 8 months & 13 days and 2 years, 11 months & 2 days. (iii) 23 days to 7 months and 2 days. | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (iii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the nward remittance | The applicant company, incorporated on March 26, 2007, is engaged in the business of manufacture of electric transformers. | (i) 531039666 (ii) 3447050 (iii) 324705997 | 97,376 | |
| 2.011 | Shri. Kamaldeep Singh Grover | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1Y 8M 26D | Regulation 10A(b)(i) read with Para10 of Schedule 1 to FEMA 20 delay in filing form FCTRS. | The applicant (IndianResident) transferred 5,000 equity shares of M/s Ergomed Clinical Research India Private Limited, to M/s Ergomed PLC (NonResident). The remittance was received in the year 2015, however form FCTRS was not filed with in the timelines prescribed under the applicable FEMA Regulations. | 50,000 | 4,375 | |
| 2.012 | M/s Kemper System (India) Private Limited | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 17Y 6M 10D | Regulation 4 of FEMA 20 Taking on record by the applicant, the transfer of shares from a person resident outside India to a person resident in India or the transfer of shares from a person resident in India to a person resident outside India,without obtaining certified copies of form FCTRS | The applicant company, incorporated on March 26, 2007, is engaged in the business of manufacturing and wholesale trading of waterproofing and coating material | 20,000 | 17,583 | |
| 2.013 | Keu International Private Limited | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 4 years, 9 months and 11 days (ii) 5 years & 10 days and 5 years & 12 days. (iii) 4 years, 11 months and 20 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (iii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the nward remittance | The applicant company was incorporated on July 27, 2012 and is engaged in the business of manufacturing and trading of clothing accessories viz., fancy buttons, threads, zips, belts, interlining etc. | (i) 10944000 (ii) 5000000 (iii) 5944000 | 376,720 | |
| 2.014 | Longjian Road and Bridge India Private Limited | Aug/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | (i) i 2 months and 6 days (ii) i 4 months and 23 days. | (i) issue of shares to the person resident outside India prior to receipt of the amount of consideration (ii) delay in refund of the excess share application money beyond the prescribed period, | The applicant company was incorporated on May 09, 2018 and is engaged in the business of construction and maintenance of motorways, streets, roads, other vehicular and pedestrian ways, highways, bridges, tunnels and subways. | (i) 10000000 (ii) 1155716 | 50,558 | |
| 2.015 | Ms Meenakshi Grover | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1Y 2M 0D to 1Y 8M 20D | Regulation 10A(b)(i) read with Para10 of Schedule 1 to FEMA 20 delay in filing form FCTRS. | Theapplicant(IndianResident)transferred4,900equitysharesofM/sErgomedClinicalResearchIndiaPrivateLimited,toM/sErgomedPLC(NonResident)and100EquiitySharestoM/sErgomedIstrazivanjaZagrebd.o.o(NonResident).Theremittanceswerereceivedintheyear2015,howeverformFCTRSwasnotfiledwithinthe timelines prescribed under the applicable FEMA Regulations. | 50,296 | 4,369 | |
| 2.016 | M/s Miraclon India Private Limited | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y1M17D to 1Y11M19D (ii) 2Y 1M 29D to 2Y 3M 16D . | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant company is engaged in the business of packaging activities | (i) 130555 (ii) 99990 | 20,932 | |
| 2.017 | Mr. Chakradhar Yadavalli | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 5 years 10 months 16 days | The contravention sought to be compounded is delay in reporting of Form FCTRS for the transfer of shares from resident to nonresident to the Reserve Bank of India | The applicant, Shri Chakradhar Yadavalli, a resident individual (PAN:ABYPY4601Q) has transferred 9000 equity shares held in M/s Agiliance India Pvt Ltd, a company incorporated on 20.02.2008, to M/s Agiliance Inc, a non-resident limited company. | 90,000 | 15,920 | |
| 2.018 | Mr. Y V Prasad | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 years 4 months 29 days | The contravention sought to be compounded is delay in reporting of Form FCTRS for the transfer of shares from resident to nonresident to the Reserve Bank of India | The applicant, Shri Y V Prasad, a resident individual (PAN AAFPY8627A) had transferred 180000 equity shares held in M/s Apollo Micro Systems Ltd, a company incorporated on 03.03.1997 (CIN: L72200TG1997PLC026556), to Mr Arindam Bhattacharjee, a non-resident individual. | 36,000,000 | 81,000 | |
| 2.019 | M/s Agritrade Power Venture Private Limited | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 2 years and 2 months | The contravention sought to be compounded is delay in submission of Form FCGPR to the Reserve Bank after issue of equity shares | The applicant company was incorporated as Agritrade Power Venture Private Limited (CIN – U74999OR2016FT88C026150), under the Companies Act, 2013, on December 19, 2016. It is registered under Companies Act 2013 to carry on the business as consultants and contractors in setting up of all types of power plants for production of electrical energy. | 6,699,900 | 25,190 | |
| 2.020 | M/s ARISTOCRAT INTERNATIONAL PRIVATE LIMITED | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | of 501 days | The contraventions sought to be compounded is for delay in submission to the Reserve Bank of Form FCGPR after issue of shares to a person resident outside India beyond the stipulated 30 days | The applicant is in the business of Hotels and Motels, inns, resorts providing short term lodging facilities including accommodation in house (NIC Code 2008 - 55101). | 22,487,940 | 80,834 | |
| 2.021 | CAPTIVA ENERGY SOLUTIONS PRIVATE LIMITED | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 10 days prior to the receipt of inflow | The contraventions sought to be compounded is for allotment of shares prior to the receipt of inflow to a person resident outside India | The relevant facts of the case are as follows. The applicant, CAPTIVA ENERGY SOLUTIONS PRIVATE LIMITED, was incorporated under Companies Act on July 02, 2010 and is in the business of Manufacture of power generators (except battery charging alternators for internal combustion engines), {NIC-2008: 27101} | 142,659,129 | 763,296 | |
| 2.022 | HESED FOODS PRIVATE LIMITED | Aug/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | of 217 days | The contravention sought to be compounded is for delay in refund of share application money beyond the stipulated 75 days of the receipt of inflow to a person resident outside India | The applicant, HESED FOODS PRIVATE LIMITED, was incorporated under Companies Act, 2013, on April 10, 2018 and is in the business of Food Processing activities.{NIC-2008: 10740}. | 19,286,300 | 50,643 | |
| 2.023 | JP Iscon Private Limited | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 12 days (ii) 28 days (iii) (a) 268 days (iii) (b) 85 to 283 days. | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (iii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the nward remittance | The applicant was incorporated on September 21, 2004 under the provisions of the Companies Act, 1956 (CIN: U45201GJ2004PTC044776). The applicant is engaged in “owning and leasing of real estate activities” bearing NIC Code 2008: 68100. | (i) 810000 (ii) 201543474 (iii) (a) 167749200 (iii) (b) 29646300 | 835,550 | |
| 2.024 | M/s 63Ideas Infolabs Private Limited | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 days to 3 months and 3 days (ii) 6 days to 8 months and 25 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The activity undertaken by the company is carrying out the business of wholesale trading in agricultural produce, products through online and offline mediums, development of platform that enables seller to identify a buyer and to undertake and transact all kinds of agency business. | (i) 22064928075 (ii) 15287331688 | 99,700 | |
| 2.025 | M/s Advantage Dental Laboratories Pvt Ltd | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 5 months 20 days to 12 years 2 months 21 days (ii) 11 years 10 months 14 days to 13 years 5 months 7 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the nward remittance | The applicant is a resident company incorporated as Private Limited Company under the Companies Act, 1956 on 12.01.2005 (U33112TG2005PTC045118). The company is engaged in manufacturing of artificial teeth and other dental laboratory service. | (i) 744341342 (ii) 744341342 | 171,579 | |
| 2.026 | M/s Ancolet India Private Limited | Aug/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 5 days to 3 months and 14 days | The contravention sought to be compounded is allotment of shares to persons resident outside India, prior to receipt of inward remittances | The company is engaged in designing, development, customization, implementation, maintenance, testing, benchmarking and dealing in Computer Software and Solutions. | 2,500,000 | 62,500 | |
| 2.027 | M/s Cogos Technologies Private Limited | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 years 11 months and 19 days | Delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The company is engaged in providing solutions and services related to E-Commerce, establishing, organizing and doing business as fleet carriers, transporters and acting as agents, distributors and merchants. | 2,030,500 | 15,000 | |
| 2.028 | M/s Creative Materials and Innovations Pvt. Ltd. | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 5 years 10 months 16 days (ii) financial years 2012-13 to 2016-17 with 1 years 9 months 18 days to 5 years 9 months 18 days | (i) delay in submission of Form FCGPR to Reserve Bank of India after issue of shares towards subscription to equity (ii) delay in filing of FLA returns | The company is engaged in research and development activities in the areas of process development of EMU oil extraction etc | 5,227,100 | 111,440 | |
| 2.029 | M/s Due North Yoga Private Limited | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i)1 months to 5 years 2 months and thirty days (ii) 4 days to 1 years 5 months and 1 days (iii) twenty days to 3 years 11 months and 7teen days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the nward remittance (iiI) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant, M/s Due North Yoga Private Limited, was incorporated on April 13, 2011, under the Companies Act, 1956, as per the Certificate of Incorporation issued by the Registrar of Companies, Karnataka. The company is engaged in operating, managing and maintaining Yoga centers/studios, conducting Yoga training courses, workshops, Yoga Teacher outsourcing and certifications. | (i) 445887190 (ii) 312415940 (iii) 417467128 | 109,488 | |
| 2.030 | M/s Gram Suchana Solutions Private Limited | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3 days to 29 days (ii) 6teen days to 4 months and 4 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The activity undertaken by the company is wholesale trading of fruits and vegetables. | (i) 3834178400 (ii) 6297825830 | 40,030 | |
| 2.031 | M/s GS Farm Taaza Produce Private Limited | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 4 days to 1 years 3 months and 26 (ii) 10 days to 2 months and 10 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The activity undertaken by the company is wholesale trading of fruits and vegetables. | (i) 7419940293 (ii) 12107844760 | 123,060 | |
| 2.032 | M/s July Systems & Technologies Private Limited | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 6teen years 8 months and 29 days to 6teen years 9 months and 21 days (ii) 6teen years 8 months and 13 days to 6teen years 9 months and 13 days. | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The activity undertaken by the company is providing software and Information Technology related services to its clients. | (i) 708452200 (ii) 708442000 | 339,370 | |
| 2.033 | M/s Leisure and Allied Industries India Private Limited | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 13 years and 27 days to 14 years and twenty days (ii) 10 years 9 months and 6teen days (iii) 4 months and 7teen days (iv) Financial years 2010-11 to 2016-17 | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the nward remittance (iiI) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (iv) delay in filing the Annual Return on Foreign Liabilities and Assets | The company is engaged in the business of establishing a chain of family entertainment and leisure centres, amusement parks and developing interactive software machines and skill games. | (i) 530790915 (ii) 2677712000 (iii) 75000000 | 389,148 | |
| 2.034 | M/s MG Funds Private Limited | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 months 2 days to 1 years 5 months and 24 days (ii) 4 months twenty days to 10 months and 13 days. | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The activity undertaken by the company is carrying out all kinds of intermediary and advisory services in the areas of wealth management, portfolio management and financial planning by providing online investment platform for its clients. | (i) 4076602872 (ii) 3551731122 | 126,605 | |
| 2.035 | M/s Nova Medical Centers Private Limited | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 4 days to 3 months and 25 days (ii) 5 days to 8een days. | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The activity undertaken by the company is owning, acquiring, promoting, establishing, maintaining, managing and administering of hospitals and related services. | (i) 22350970655 (ii) 143625015130 | 90,725 | |
| 2.036 | M/s. Poly Solar Parks Pvt. Ltd | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 months 29 days to 2 months 4 days (ii) 25 days to 4 months 15 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The company is engaged in electric power generation using solar energy. | (i) 34500064238 (ii) 819399396 | 112,080 | |
| 2.037 | M/s Progressive Digital Media Private Limited | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 8 years 6 months 24 days | The contravention sought to be compounded is taking on record transfer of shares (resident to nonresident) by Investee Company without certified form FCTRS from AD Bank | The company is engaged in data processing activities including report writing. | 99,990 | 18,580 | |
| 2.038 | M/s Proxce Technologies Private Limited | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 months to 7 months and 27 days (ii) 8 months and 14 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The activity undertaken by the company is to engage in the business of developing products and providing services in the field of information technology and technology enabled applications in different fields both in India and overseas. | (i) 19340388 (ii) 9495000 | 14,119 | |
| 2.039 | M/s. Relisys Medical Devices Limited | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 days to 1 months 8 days (ii) 3 days to 1 years 3 months 15 days . (iii) 9 years 8 months 15 days (iv) 4 years 11 months 01 days (v) financial years viz, 2011-12 and 2012-13 | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the nward remittance (iiI) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (iv) conversion of CCDs into equity shares at a price less than the fair market value of equity shares determined at the time of issue of CCDs by the applicant (v) delay in filing the Annual Return on Foreign Liabilities and Assets | The company is engaged in the business of manufacture of rubber surgical and medical equipments (Medical and cardiac devices and disposals). | (i) 10559197 (ii) 33259745 (iiI) 2513750 (iv) 689067146 | 272,721 | |
| 2.040 | M/s. Saikruthi Minmet (India) Private Limited | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 13 days to 1 months 1 days (ii) 1 months 16 days to 2 months 12 days . | (i) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India (ii) delay in allotment of shares to a person resident outside India, | The company is engaged in the business of “Wholesale Trading of Minerals & Metals”. | (i) 59716230 (ii) 54666230 | 261,558 | |
| 2.041 | M/s Sigtuple Technologies Private Limited | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 21 days to 1 years and 8 days (ii) 2 days to 1 years and 25 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The activity undertaken by the company is to act as a franchise agent for software development, provide consultancy services related to the preparation and maintenance of accounting, data processing, to manufacture, sell, export, import all types of equipment cable and to develop, run, own, manage and administer pathological labs and diagnostic centers. | (i) 1976631216 (ii) 17965382000 | 136,560 | |
| 2.042 | M/s Surewaves MediaTech Private Limited | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 days to 2 months and 22 days; (ii) 19 days to 5 months and 22 days. | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The activity undertaken by the company is Software development and Information Technology related services. | (i) 28729893995 (ii) 28357321472 | 102,200 | |
| 2.043 | M/s TRS-Rentelco India Private Limited | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3 days to 5 months and 1 days; (ii) 8 months and 10 days to 11 months and 6 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in allotment of shares, beyond 180 days from the date of receipt of inward remittance | The company acts as business to business rental service providers, suppliers, exporters, importers, distributors, agents and dealers of electronic, electrical and mechanical equipments. | (i) 6634729640 (ii) 8193828800 | 314,975 | |
| 2.044 | M/s Velocity Global Management Services Private Limited | Aug/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 2 months 24 days | The contravention sought to be compounded is delay in refund of excess share application money to the foreign investor/persons resident outside India, beyond 75 days from the date of receipt of the inward remittance | The company is engaged in the business of providing management strategic business consulting, advisory and human resource management services. | 10,000 | 23,300 | |
| 2.045 | M/s. Vitech Systems Asia Private Limited | Aug/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | (i) 4 years 7 months 17 days (ii) 15 years 8 months 8 days (iii) 9 years 8 months 8 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (iii) violation of pricing guidelines for issue of shares | The company is engaged in the business of “Software development and computer consultancy services”. | (i) 100000 (ii) 100000 (iii) 48875 | 40,894 | |
| 2.046 | M/s Weiwo Communication Private Limited | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 months and 26 days to 2 years and twenty 3 days; (ii) 3 years 3 months and 25 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in allotment of shares, beyond 180 days from the date of receipt of inward remittance | The company is engaged in the business of wholesale distribution of mobile phones. | (i) 596641221 (ii) 561634 | 18,686 | |
| 2.047 | M/s Zeven Sports Private Limited | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 days to 6 months and 7 days (ii) 1 months and 27 days to 2 months and 11 days (iii) 4 days to 6 months and 7teen days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (iii) delay in refund of excess share application money to the foreign investor/persons resident outside India, beyond 75 days from the date of receipt of inward remittance | The company is engaged in the business of manufacturing of sports goods. | (i) 15506214882 (ii) 33344075 (iii) 30915294500 | 181,997 | |
| 2.048 | Mulchand R Shah Jewellers Pvt. Ltd. | Aug/2019 | ODI | FEMA 120/RB-2004 | Delay in reporting | (i) APR for the years 2004-2005 were ubmitted with beyond the precribed period (ii) 12 years (iii) 12 years | (i) delayed reporting of remittance (ii) delayed submission of Annual Performance Reports (APR) (iii) disinvestment under automatic route without obtaining fair valuation certificate (iv) disinvestment without submission of the APRs. | The applicant company is engaged in the business of goldsmiths, silversmiths, jewellers, gems and diamond merchants and dealing in jewellery etc. The applicant had set up an overseas WOS viz., Sneh International Limited in Mauritius by remitting USD 5000 as equity in November, 1999. The applicant had also remitted USD 70000 in March 2001 towards investment in redeemable preference shares of overseas WOS. Though the applicant has applied for compounding stating there was a delay in submission of Form ODA to the AD bank for the afore said remittance, as required under Regulation 6(2) (vii) of Notification No FEMA19/2000-RB dated May 03, 2000, it was observed form the records that the Indian Party (IP) has submitted relevant Form ODA as prescribed under the aforesaid Regulation and hence it was not compounded as no contravention was observed. The applicant delayed the submission of APR for the year 2004-05 (submitted to the AD bank on February 28, 2017) in contravention of Regulation 15 (iii) of Notification No.FEMA 120/2004-RB dated July 07, 2004. Further the applicant disinvested from the WOS on July 22, 2005 under automatic route without obtaining fair valuation certificate in contravention of Regulation 16(1) (iii) of Notification ibid. The valuation certificate was submitted to the AD bank on February 28, 2017. Also, the disinvestment was done without the submission of APR in contravention to Regulation 16(i) (v) of the Notification ibid. | (i) 3469450 (ii) 3469450 (iii) 3469450 | 162,042 | |
| 2.049 | Shri Nitin Kumar Gupta | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1Y 4M 4D | Regulation 10A(b)(i) read with Para 10 of Schedule 1 to FEMA 20 delay in filing form FCTRS. | The applicant (Indian Resident) transferred 9,000 equity shares of M/s Navstik Autonomous Systems Private Limited , to M/s Flytbase INC (NonResident). The remittance was received in the year 2017,however formFCTRS was not filed within the timelines prescribed under the applicable FEMA Regulations. | 94,265 | 6,677 | |
| 2.050 | Novelvox Softwares India Private Limited | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 5 months and 20 days to 3 years, 10 months and 5 days (ii) 5 months and 20 days to 4 years, 5 months and 20 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant company, engaged in the business of other information technology and computer service activities n.e.c, was incorporated as M/s Integration Services & Technologies India Private Limited on March 24, 2009. | (i) 1496637198 (ii) 1496265162 | 135,910 | |
| 2.051 | Orient Box Movers Private Limited | Aug/2019 | FEMA -Borrowing & Lending in Rupees Regulations 2000 | FEMA 4/2000-RB | In terms of Regulation 5(1) (i) of Notification No. FEMA 4/2000-RB “…. a company incorporated in India may borrow in rupees on repatriation or non- repatriation basis, from a nonresident Indian or a person of Indian origin resident outside India, by way of investment in Non-Convertible Debentures (NCDs) issue of which is made by public offer.” | October 18, 2012 to July 09, 2018 i.e. 5 years and 8 months . | The contraventions sought to be compounded relate to borrowing by the applicant in Rupees from a Non Resident Indian (NRI) other than by way of issue of NonConvertible Debentures | The major activities of the company include refrigerated containers pre-trip inspection, monitoring temperatures in Mumbai Port on behalf of major shipping lines. The company has diversified its operations into various sectors such as transportation of laden and empty containers, management of empty yards, labour contracts etc. | 2,879,100 | 71,593 | |
| 2.052 | Shri Rajaram Hariprasad | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 years 1 months 16 days . | The contravention sought to be compounded is delay in reporting the transfer of shares from resident to nonresident i.e., delay in submission of FCTRS | Rajaram Hariprasad , the resident seller received a consideration of ₹50,045.00 on November 21, 2017 from a non-resident buyer, M/s. GCI Health Ltd., Malaysia, towards transfer of 5000 shares of M/s. GCI Healthcare Pvt Ltd. The transfer did not take place and the applicant refunded the consideration on March 8, 2019 with delay of one year one month 16 days beyond the prescribed period of 60 days | 50,045 | 2,828 | |
| 2.053 | Rajiv Arya | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 4 years and 29 days | The contravention sought to be compounded is of delay in reporting the transfer of shares in Form FCTRS beyond the stipulated period | The applicant, a resident individual, had transferred 9,000 equity shares of M/s ISFnet India Private Limited, a resident company engaged in the business of other information technology and computer services activities n.e.c, to M/s ISFnet Singapore Pte. Ltd., Singapore, a non-resident company, on April 12, 2013 for a consideration of ₹90,000/- (Rupees Ninety Thousand only) which was received on April 12, 2013. | 90,000 | 18,360 | |
| 2.054 | M/s Recipharm Holding India Private Limited | Aug/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | (i) 91 days (ii) 69 days (iii) Financial years 2014-15 to 2017-18 | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity shares, (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India iii) delay in filing of FLA returns | The applicant company was incorporated on March 15, 2016 under the Companies Act 2013. The applicant is engaged in the activities of financial services. | (i) 100000 (ii) 8444610000 | 9,025,000 | |
| 2.055 | Robosoft Technologies Private Limited | Aug/2019 | ODI | FEMA 120/RB-2004 | Delay in reporting | (i) 2 years and 9 months to 4 years and 4 months . (ii) period March 2014 to september 2015 | (i) delay in filing Form ODI with respect to certain remittances made during 2014 & 2015 (ii) delay in submission of Annual Performance Reports (APR) for the years 2007 to 2014 | The applicant was incorporated as Robosoft Technologies private Limited (CIN U72900KA2000PTC027961), under the Companies Act, 1956, on 13.10.2000. The applicant is a company whose main business is to carry on the business of Software development service. | (i) 16166534 (ii) USD $261 500 | 190,375 | |
| 2.056 | S Namasivayam | Aug/2019 | FDI | FEMA 20(R)/2017-RB | Transfer of shares from resident to non-resident by gift where shares exceeds 5% of paid up capital of the company | (i) 9 years 11 days (ii) 9 years 11 days (iii) 9 years 11 days | (i) prior approval was not sought from Reserve Bank in transfer of shares from resident to nonresident by way of gift (ii) the face value of the shares transferred by way of gift exceeds 5% of the paid up capital of the Indian Company (iii) the value of security to be transferred by the donor together with any security transferred to any person residing outside India as gift in the calendar year exceeds the rupee equivalent of USD 25000 | The applicant, an individual by name Shri S Namasivayam, is a resident shareholder in the company M/s. Iminsight Software Pvt Ltd., a private limited company incorporated under the Companies Act, 1956 on April 23, 2003 The applicant transferred by way of gift 82000 equity shares of face value ₹100/- each to the Non-Resident, Shri N Senthil Kumar at a notional share value of ₹190.93/- without Reserve Bank’s approval | (i) 1565626000 (ii) 717500000 (iii) 1452601000 | 1,001,560 | |
| 2.057 | Saksoft Limited | Aug/2019 | FDI | FEMA 20/2000-RB | In terms of Regulation 8(2) of Notification No. FEMA 20/2000-RB “The issuing company shall furnish to the Reserve Bank , within thirty days from the date of issue of shares under the scheme, a report giving the following particulars/documents, - i) names of persons to whom shares are issued under the scheme and number of shares issued to each of them; ii) a certificate from the Company Secretary of the issuing company that the value of shares issued under the scheme does not exceed 5% of the paid up capital of the issuing company and that the shares are issued in compliance with the regulations issued by the SEBI in this behalf.” | March 12, 2016 to Augut 23, 2016 i.e. 5 months . | The contraventions sought to be compounded relate to delay in reporting of Employee Stock Options Plan (ESOPs) beyond thirty days from the date of issue of shares | The applicant is engaged in business of computer programming, consultancy and related activities. | 1,013,625 | 11,042 | |
| 2.058 | Ms Shipra Gupta | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1Y10M11D . | Regulation 10A(b)(i) read with Para 10 of Schedule 1 to FEMA 20 delay in filing form FCTRS. | The applicant (Indian Resident) transferred 1,000 equity shares of M/s Navstik Autonomous Systems Private Limited, to M/s Flytbase INC (NonResident).The remittance was received in the year 2017,however form FCTRS was not filed within the timelines prescribed under the applicable FEMA Regulations. | 10,035 | 962 | |
| 2.059 | M/s Sunvest Energy Private Limited | Aug/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | (i) 0Y 0M 4D (ii) Financial years 2016-17 and 2017-18. | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity shares, ii) delay in filing of FLA returns | Its main activities are: Electric power generation using solar energy | (i) 6428 | 19,311 | |
| 2.060 | M/s Supple Tek Industries Private Limited | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 81 days to 165 days (ii) 1446 days to 1507 days (iii) 1331 days to 1415 days (iv) Financial years 2014-15 to 2017-18 | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity shares, (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India iii) delay in application for refund of excess inflow amount iv) delay in filing of FLA returns | The applicant company was incorporated on February 28, 2013 under the Companies Act 1956. The applicant is engaged in the activities of rice milling. | (i) 177843627 (ii) 177780000 (iii) 63627 | 75,530,600 | |
| 2.061 | M/s. Uplus Technology India Pvt Ltd. | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 8 months (ii) 4 months | (i) delay in submission of Form FCGPR to Reserve Bank on allotment of shares (ii) delay in allotment of shares | The applicant company was incorporated on August 10, 2015 under the provisions of the Companies Act, 2013 (Registration No. U72900TN2015PTC101756) and is engaged in the business of manufacture of printer cables, monitor cables, USB cables, connectors etc. | (i) 9900000 (ii) 599727529 | 83,254 | |
| 2.062 | N.Yamuna | Aug/2019 | FDI | FEMA 20/2000-RB | Regulation 10 A (a) of Notification No. FEMA 20/2000-RB, a person resident in India who proposes to transfer to a person resident outside India any security by way of gift shall make an application to Reserve Bank. | 15 years 1 months 27 days | The contravention sought to be compounded is transfer of shares from resident to nonresident by way of gift without RBI approval | The applicant, an individual by name N.Yamuna, is a resident shareholder in the company M/s. Iminsight Software Pvt Ltd., a private limited company incorporated under the Companies Act, 1956 on April 23, 2003 The resident shareholder has transferred 500 equity shares of face value ₹100/- each to non-resident, Mr. N.Senthilkumar, USA on March 31, 2004 at a notional value of ₹1306.38 by way of gift without Reserve Bank’s approval | 653,190 | 25,170 | |
| 2.063 | M/s. Ant Factory Startup Advisory Services Private Limited | Aug/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 25 days (ii) 1 years 1 months 26 days | (i) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India (ii) delay in filing the Annual Return in respect of the Foreign Liabilities and Assets (FLA Return) | The applicant is a resident company incorporated as Private Limited Company under the Companies Act, 2013 on June 17, 2015 (CIN: U74900TG2015PTC099374). The company is engaged in the business of “Management consultancy activities”. | (i) 3199350 | 20,200 | |
| 2.064 | Shri Ashok Alate | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 10Y 3M 19D | Delay in filing Form FCTRS | The applicant (IndianResident)transferred 5,000 equity shares of M/sIndeus LifeSciences Private Limited, to M/s Nordic Group BV (Non Resident). The remittance was received in the year 2008, however form FCTRS was not filed within the timelines prescribed under the applicable FEMA Regulations. | 50,000 | 20,333 | |
| 2.065 | M/s Austrax Technologies India Pvt Ltd | Sep/2019 | FDI | FEMA 20(R)/2017-RB | Non compliance of Para 2(2) of FEMA 20R, the shares were neither issued nor the amount was refunded to the person resident outside India within the prescribed time from the date of receipt of the inward remittance | 8M 14D | Neither the equity instruments were issued, nor the money refunded to the foreign investor within 60days/75days (as applicable) from the receipt of the inward remittance | The applicant received foreign inward remittances from non-resident investors towards equity shares / compulsorily convertible preference shares/ compulsorily convertible debentures on 20-08-2018 and it reported the same to the Reserve Bank on 31-08-2018. However, the allotment was made before receiving the foreign Investment | 99,468 | 7,004 | |
| 2.066 | M/s Avasant Advisory India Private Limited | Sep/2019 | FDI | FEMA 20(R)/2017-RB | Non compliance of Para2(2)of FEMA 20R, the shares were neither issued nor the amount was refunded to the person resident outside India within the prescribed time from the date of receipt of the inward remittance | 5M 1D | Neither the equity instruments were issued, nor the money refunded to the foreign investor within 60days/75days (as applicable) from the receipt of the inward remittance | The applicant received foreign inward remittances from non-resident investors towards equity shares / compulsorily convertible preference shares/ compulsorily convertible debentures on 01-02-2019. However, the allotment was made before receiving the foreign Investment | 9,999,979 | 50,500 | |
| 2.067 | M/s. Baton-Ubixi Systems India Pvt Ltd. | Sep/2019 | FDI | FEMA 20(R)/2017-RB | Violation of Para2(2)of FEMA 20R, the shares were neither issued nor the amount was refunded to the person resident outside India within the prescribed time from the date of receipt of the inward remittance | 3M 20D to 3M 21D | Neither the equity instruments were issued, nor the money refunded to the foreign investor within 60days/75days (as applicable) from the receipt of the inward remittance | The applicant received foreign inward remittances from non-resident investors towards equity shares / compulsorily convertible preference shares/ compulsorily convertible debentures. However, the allotment was made before receiving the foreign Investment | 900,000 | 54,500 | |
| 2.068 | M/s Belaz- Enrika Mining Equipments Services Pvt ltd | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1M 3D & 3M 16D (ii) 3M15D | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) Delay in filing Form FCGPR to Reserve Bank after issueof shares to person resident outside India | applicant company was incorporated on 30-11-2011. The business activity are Repair & maintenance of mining, construction and oil and gas field machinery, metallurgy machinery. | (i) 24400422 (ii) 19400440 | 54,500 | |
| 2.069 | M/s Caldic India Private Limited | Sep/2019 | FDI | FEMA 20/2000-RB | (i) Delay in reporting (ii) Delay in reporting (iii) Violation of Para 8 of FEMA 20R, the shares were neither issued nor the amount was refunded to the person resident outside India within the prescribed time from the date of receipt of the inward remittance | (i) 0Y 0M 3D to 0Y 0M 10D (ii) 0Y 0M 23D to 0Y 8M 21D (iii) 4D to 2Y 9M 27D | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) Delay in filing Form FCGPR to Reserve Bank after issueof shares to person resident outside India (iii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within180 days from the receipt of the inward remittance | applicant company was incorporated on 14-01-2013. The business activity are Wholesale of industrial chemicals | (i) 20000000 (ii) 15000000 (iii) 5014900 | 83,639 | |
| 2.070 | M/s Capgemini Technology Services India Ltd | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | Financial years 2007-08, 2008-09, 2009-10, 2010-11, 2011-12, 2012-13, 2013-14, 2015-16, 2016-17and 2017-18. | Delay in filing ‘Annual Return on Foreign Liabilities and Assets’ (FLA Returns) | The applicant is a resident company incorporated as Private Limited Company under the Companies Act, 2013 on December 27, 1993. The company is engaged in the business of “Providing Software support and maintenance”. | NIL | 100,000 | |
| 2.071 | M/s. Chainflux Technologies Private Limited | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 9 months (ii) 1 months 11 days | (i) Delay in receipt of shortfall amount of consideration (ii) Delay in filing of FLA returns | The applicant is a resident company incorporated as Private Limited Company under the Companies Act, 2013 on April 02, 2018 (CIN: U72900TG2018PTC123447). The company is engaged in the business of “Writing, modifying, testing of computer program to meet the needs of a particular client excluding web-page designing”. The applicant has received the shortfall amount of consideration of ₹ 590/- from the foreign investor | 590 | 10,044 | |
| 2.072 | China Construction (S.E.A.) India Private Limited | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1Y 3M 20D (ii) 1Y 7M | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in filing Form FCGPR after issue of shares | The applicant company, incorporated on June 27, 2016, is engaged in the business of undertaking design, construction and maintenance of Real Estate Projects. | (i) 6325626 (ii) 6325000 | 40,370 | |
| 2.073 | M/s. Chrysalis Hospitality Private Limited | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 4M 15D (ii) 4Y 9M 4D (iii) 4Y 2M 1D to 1Y 2M 1D | (i) delay in reporting of receipt of foreign inward remittances towards subscription of equity (ii) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India (iii) delay in filing the Annual Return in respect of the Foreign Liabilities and Assets (FLA Return) | The applicant is a resident company incorporated as Private Limited Company under the Companies Act, 1956 on December 11, 2013 (CIN: U74900TG2013PTC091601). The applicant is engaged in the business of “Establishing cafeterias, fast-food restaurants and other food preparation in market stalls”. | (i) 2500000 (ii) 2500000 | 73,125 | |
| 2.074 | M/s. Danlaw Technologies India Limited | Sep/2019 | FDI | FEMA 20(R)/2017-RB | violation of Regulation 13.1(4) of Schedule 1 to FEMA 20(R) | 4M 20D | Delay in refund of excess share application money received with respect to transfer of shares from Resident to NonResident | The applicant is a resident company incorporated as Limited Company under the Companies Act, 1956 on December 03, 1992 (CIN: L72200TG1992PLC015099). The company is engaged in the businesses of “Writing, modifying, and testing of computer program to meet the needs of a particular client excluding web-page designing” and “Providing software support and maintenance to the clients”. | 83,629,411 | 54,181 | |
| 2.075 | Shri. Dineshkumar Garg | Sep/2019 | FDI | FEMA 20/2000-RB | (i) Violation of Regulation 10A(b)(i) read with Para 5 of Schedule 1 to FEMA 20 (ii) Delay in reporting | (i) 9Y 0M 3D (ii) 0Y 10M 4D to 9Y 10M 7D | (i) issuance of shares without adherance to the Pricing Guidelines (ii) delay in filing form FCTRS | The applicant (Indian Resident) transferred 378 equity shares of M/s InfoCepts | (i) 80077900 (ii) 839150 | 76,839 | |
| 2.076 | M/s. Easternbulk Lime Products Pvt Ltd. | Sep/2019 | FDI | (i) & (ii)FEMA20/2000-RB (iii) FEMA 20(R)/2017-RB | Delay in reporting | (i) 9Y 0M 3D (ii) 0Y 10M 4D to 9Y 10M 7D (iii) 1Y 11D to 2M 6D | (i) delay in reporting of inflow of funds to Reserve Bank received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR (iii) delay in refund of receipt of consideration in terms of Paragraph 2(3) of Schedule I to Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2017 | The applicant company was incorporated on September 08, 2014 under the provisions of the Companies Act, 2013 (Registration No. U26960TN2014PTC097250) and is engaged in business of manufacture of other Chemical products. | (i) & (ii) 1917000000 (iii) 73540 | 35,886 | |
| 2.077 | M/s. e-GITS India Pvt Ltd. | Sep/2019 | FDI | FEMA 20/2000-RB | Violation of Paragraph 8 of Schedule I to Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 | 11Y 2M 3D | delay in refund of excess consideration to the nonresident | The applicant company was incorporated on December 10, 2001 under the provisions of the Companies Act, 1956 (Registration No. U72200TN2001PTC048133) and is engaged in business of research and experimental development on social sciences and humanities. | 100,000 | 46,125 | |
| 2.078 | M/s. Elevate India Business Consultants Pvt Ltd. | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3M 27D to 1Y 2M 3D (ii) 6M 20D ro 1Y 10M 21D | (i) delay in reporting to Reserve Bank of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR | The applicant company was incorporated on November 27, 2015 under the provisions of the Companies Act, 2013 (Registration No. U74999TN2015FTC103123) and is engaged in the business of management consultancy activities. | (i) & (ii) 1500000 | 25,445 | |
| 2.079 | M/s FinIQ Consulting India Private Limited | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 8Y 7M 15D to 8Y 8M 8D (ii) 9Y 8M 12D | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR | the applicant company was incorporated on June 20, 2018. The compan is engaged in the business of Software Development | (i) & (ii) 17998200 | 1,005,667 | |
| 2.080 | French Bakery Private Limited | Sep/2019 | FDI | (i) to (iii) FEMA 20/2000-RB (iv) FEMA 20(R)/2017-RB | (i) and (ii) Delay in reporting (iii) Violation of Paragraph 8 of Schedule I to Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 (iv) paragraph 2(2) of Schedule 1 to Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2017 | (i) 2 days to 4 years, 11 months and 10 days. (ii) 5 days to 7 years, 10 months and 3 days. (iii) 2 months and 2 days (iv) 1 days | (i) delay in reporting foreign inward remittances received for issue of shares (ii) delay in filing Form FCGPR after issue of shares (iii) delay in issue of shares beyond 180 days from the date of receipt of inward remittances (iv) issue of shares to persons resident outside India prior to receipt of inward remittance | The applicant company, incorporated on October 14, 2008, is engaged in the business of production, distribution and sale of biscuits, cakes, pastries, rusk etc. | (i) 142129840 (ii) 196111005 (iii) 2012530 (iv) 2499942 | 1,873,642 | |
| 2.081 | General Energy Management Systems Private Limited | Sep/2019 | FDI | FEMA 20/2000-RB | (i) and (ii) Delay in reporting (iii) Violation of Paragraph 8 of Schedule I to Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 | (i) 17 years, 6 months and 15 days (ii) 15 years, 4 months and 8 days (iii) 1 years, 8 months and 9 days | (i) delay in reporting foreign inward remittance received for issue of shares, (ii) delay in filing Form FCGPR after issue of shares (iii) delay in issue of shares and delay in refund of excess share application money | The applicant company, incorporated on October 12, 1999, is engaged in the business of providing maintenance services, business auxiliary services, sales of traded goods and manufacturing of goods related to oil and gas industry. | (i) 28705459 (ii) 250000 (iii) 250000 | 92,011 | |
| 2.082 | GSFL True Finance Private Limited | Sep/2019 | FDI | FEMA 20(R)/2017-RB | paragraph 2(2) of Schedule 1 to Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2017 | 4 months & 18 days and 8 months & 4 days | issue of shares to persons resident outside India prior to receipt of inward remittances | The applicant company, incorporated on December 27, 2017, is engaged in the business of general finance as financers, finance brokers, money lenders and bill brokers. | 20,000,000 | 150,000 | |
| 2.083 | Healthcubed India Private Limited | Sep/2019 | FDI | FEMA 20/2000-RB | (i) and (ii) Delay in reporting (iii) Violation of Paragraph 8 of Schedule I to Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 | (i) 2 years 3 months and 25 days (ii) 3 years and 2 days (iii) 8 days | (i) delay in reporting foreign inward remittance received for issue of shares, (ii) delay in filing Form FCGPR after issue of shares (iii) issue of shares to the person resident outside India prior to receipt of the amount of consideration | The applicant company, incorporated on November 06, 2015, is engaged in the business of manufacturing of other medical and dental instruments | (i) 99980 (ii) 99980 (iii) 99980 | 27,844 | |
| 2.084 | M/s Henkell & Company India Pvt L td | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3M 15 D to 5Y 3M 22D . (ii) 1Y 1M 22D to 4Y 10M 16D | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of Form FCGPR | The applicant company, incorporated on December 15, 2006, is engaged in the business of Manufacturing of distilled,portable,alcoholicbeveragessuch as whisky, brandy, gin, mixed drinks etc | (i) 58900000 (ii) 53900000 | 660,417 | |
| 2.085 | Shri Hiteshkumar Doshi | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 9Y 11M 10D | delay in filing form FCTRS | The applicant filed form FCTRS with a delay of 9Y 11M 10D beyond the stipulated period of 60 days. | 50,000 | 20,000 | |
| 2.086 | M/s. Indus Renewable Energy India Private Limited | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 4 months 14 days (ii) 2 days to 4 months | (i) delay in reporting of receipt of foreign inward remittances towards subscription of equity (ii) delay in submission of Form FCGPR | The applicant is a resident company incorporated as Private Limited Company under the Companies Act, 1956 on November 10, 2008. The company is engaged in “Hydro Power Generation” activity. | (i) 37474500 (ii) 578212040 | 107,000 | |
| 2.087 | M/s Infocepts Technologies Pvt Ltd | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 10Y 0M 7D | the transfer of shares from a person resident outside India to a person resident in India or the transfer of shares from a person resident in India to a person resident outside India,without obtaining certified copies of form FCTRS | The applicant company, incorporated on June 25, 2004, is engaged in the business of Information technology and computer service activities | 2,157,632 | 55,375 | |
| 2.088 | M/s Kale Logistics Solutions Private Limited | Sep/2019 | FDI | FEMA 20/2000-RB | (i) Delay in reporting (ii) Delay in reporting (iii) Violation of Para 8 of FEMA 20R, the shares were neither issued nor the amount was refunded to the person resident outside India within the prescribed time from the date of receipt of the inward remittance | (i) 2Y 4M 7D to 9Y 0M 22D (ii) 6Y 3M 29D to 9Y 2M 24D (iii) 0Y 2M 2D to 4Y 2M 5D | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) Delay in filing Form FCGPR to Reserve Bank after issueof shares to person resident outside India (iii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within180 days from the receipt of the inward remittance | The applicant company, incorporated on September 25, 2009, is engaged in providing solutions,support and services to companies engaged incargo, logistics and other industries and too btain and execute projects for development and maintenance of computer software therefor and to provide consultancy in respect thereof. | (i) 11052650 (ii) 11052650 (iii) 5412500 | 269,838 | |
| 2.089 | M/s LA MA Nilraj Engineering Private Limited | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 8Y 8M 7D to 8Y 8M 13D (ii) 8Y 0M 14D | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in filing Form FCGPR after issue of shares | The applicant company, incorporated on December 29, 2003, is engaged in Manufacturing of Plastic products, non-metalic mineral products rubber products, fabricated metal products. | (i) 10344100 (ii) 10344060 | 546,667 | |
| 2.090 | LQ Global Services Private Limited | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 9 months and 6 days (ii) 1 years, 9 months and 12 days | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in filing Form FCGPR after issue of shares | The applicant company, incorporated on January 18, 2017, is engaged in thebusiness of providing online/ offline legal services, legal search & its analysis, collecting data and use data mining, artificial intelligence, etc. to provide advice to users for legal analysis and solutions. | (i) 320120285 (ii) 3200000 | 26,650 | |
| 2.091 | Mace Project and Cost Management Private Limited | Sep/2019 | FDI | FEMA 20/2000-RB | (i) and (ii) Delay in reporting (iii) Violation of Paragraph 8 of Schedule I to Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 | (i) 4 months and 1 days to 6 months and 10 days (ii) 4 years, 7 months and 17 days (iii) 7 years, 3 months & 8 days and 7 years & 28 days | (i) delay in reporting foreign inward remittance received for issue of shares, (ii) delay in filing Form FCGPR after issue of shares (iii) issue of shares to the person resident outside India prior to receipt of the amount of consideration | The applicant company, incorporated on November 06, 2015, is engaged in the business of manufacturing of other medical and dental instruments | (i) 13856086 (ii) 99980 (iii) 13756106 | 231,926 | |
| 2.092 | M/s. Mados Infra Projects Pvt Ltd. | Sep/2019 | FDI | FEMA 20(R)/2017-RB | Violation of Paragraph 2(3) of Schedule I to Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2017 | 5 months 10 days | delay in refund of excess consideration in terms of Paragraph 2(3) of Schedule I to Foreign Exchange Management(Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2017 | The applicant company was incorporated on April 05, 2018 under the provisions of the Companies Act, 2013 (Registration No. U74999TN2018PTC121932) and is engaged in the business of architectural and engineering activities and related technical consultancy. | 22,000 | 990 | |
| 2.093 | M/s Mahindra Two Wheelers Limited | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3Y 5M 19D to 4Y 4M 4D (ii) 4Y 1M 24D to 5Y 0M 24D | (i) delay in reporting of receipt of foreign inward remittances towards subscription of equity (ii) delay in submission of Form FCGPR | The applicant company, incorporated on August 05, 2008, is engaged in the business of manufacturing of motor-cycles and scooters and parts | (i) 1026233670 (ii) 1026233660 | 3,086,667 | |
| 2.094 | Match – IT Consultants Pvt Ltd | Sep/2019 | ODI | FEMA 120/RB-2004 | contravention of Regulations 15 (i), 15(iii) and 16(1)(iii) of Foreign Exchange Management (Transfer or Issue of Any Foreign Security) Regulations, 2004 | APR for 2012 and 2013 were ubmitted with in 2017 and ubequent 5 APR till reporting of diinvetment in 2019 were not ubmitted. | (i) nonreceipt of share certificate or other evidence of investment within six months (ii) nonsubmission and delayed submission of Annual Performance Reports (APRs) (iii) undertaking disinvestment with writeoff without obtaining valuation of the overseas company | The applicant made an investment of TZS 200,000,000 (equivalent to INR 64,04,375 and USD12,000) on October 10, 2012 towards investment in an overseas Joint Venture (JV) – Oanisha (Match It) International Co Ltd in Tanzania. Despite receiving money as remitted by the applicant, the foreign subsidiary did not respond positively in fulfilling their obligations including submitting the statutory requirements like financial statements, share certificates etc to the Indian Party (IP) in order to comply with ODI requirements. The IP endeavoured to establish communication with the foreign subsidiary to obtain required documents required for regulatory filings but to no avail. The applicant has filed a Police Case in Tanzania against the management of the Tanzanian JV. The company filed APRs for 2012 and 2013 with delay and was unable to file APRs thereafter in the absence of access to JV’s financials. In the light of the circumstances, as a special case, RBI exempted the company from obligations under Regulations 15(i) and 15(iii) i.e submitting the share certificate and filing APRs respectively as well as Regulation 16(1)(iii) requiring the JV to furnish valuation at the time of disinvestment. The Indian company wrote off the entire investment in its books. | 6,404,375 | 152,375 | |
| 2.095 | M/s Meissa Realty Ventures Private Limited | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1Y 3M 18D to 1Y 4M 0D (ii) 1Y 10M 2D to 1Y 10M 17D | (i) delay in reporting of receipt of foreign inward remittances towards subscription of equity (ii) delay in submission of Form FCGPR | The applicant company, incorporated on February 27, 2017, is engaged in the business of Construction of buildings carried out on own-account basis or on a fee or contract basis | (i) 1595688 (ii) 1595680 | 31,458 | |
| 2.096 | Mr. BNG Kumar | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1Y 7M 5D | delay in reporting the transfer of shares by Resident to NonResident in terms of Regulation 10 A (b) (i) read with Paragraph 10 of Schedule 1 to Notification No. FEMA 20/2000RB | The applicant is a resident shareholder in the company, M/s Lyearn Software Development India Private Limited, which was incorporated at Bengaluru, Karnataka, on March 28, 2017, under the Companies Act, 2013, as per the Certificate of Incorporation issued by the Central Registration Centre, Ministry of Corporate Affairs, Government of India. | 198,000 | 11,670 | |
| 2.097 | Mr. Raviprasad Pisupati | Sep/2019 | FDI | FEMA 20/2000-RB | delay in reporting | 6 years 11 months 2 days | delay in reporting of form FCTRS for the transfer of shares from Resident to Nonresident | The applicant, Shri Raviprasad Pisupati, a resident individual (PAN:AKYPP5699L) has transferred 9,999 equity shares held in M/s Thinci Semiconductor Technologies India Private Limited, a company incorporated on December 26, 2011 (CIN: U74120TG2011FTC078193), on July 31, 2012 to M/s Thinci Inc, a non-resident limited company. | 99,990 | 17,000 | |
| 2.098 | Ms. Usha Nambeesan | Sep/2019 | FDI | FEMA 20/2000-RB | delay in reporting | 1 years and 8 months | delay in reporting the transfer of shares by Resident to NonResident in terms of Regulation 10 A (b) (i) read with Paragraph 10 of Schedule 1 to Notification No. FEMA 20/2000RB | The applicant, is a resident shareholder in the company M/s Lyearn Software Development India Private Limited, which was incorporated at Bengaluru, Karnataka, on March 28, 2017, under the Companies Act, 2013, as per the Certificate of Incorporation issued by the Central Registration Centre, Ministry of Corporate Affairs, Government of India. | 2,000 | 167 | |
| 2.099 | M/s Atlas Healthcare Software India Private Limited | Sep/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 69 days | transfer of shares recorded without certified form FCTRS | The applicant, Atlas Healthcare Software India Private Limited, was incorporated November 19, 2007 and is in the business of Writing, modifying, testing of computer program to meet the needs of a particular client excluding web-page designing. (NIC Code 2008-62011). | 1,827 | 23 | |
| 2.100 | M/s Atlas Healthcare Software India Private Limited | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 3906 days | transfer of shares recorded without certified form FCTRS | The applicant, Atlas Healthcare Software India Private Limited, was incorporated November 19, 2007 and is in the business of writing, modifying, testing of computer program to meet the needs of a particular client excluding web-page designing. (NIC Code 2008-62011). | 280,760 | 20,917 | |
| 2.101 | M/s MHA IMEX OVERSEAS PRIVATE LIMITED | Sep/2019 | FDI | FEMA 20/2000-RB | Violation of Paragraph 8 of Schedule I to Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 | Contravention on variou date | delay in allotment of shares beyond the stipulated 180 days of the receipt of inflow to a person resident outside India | The applicant, M/s MHA IMEX OVERSEAS PRIVATE LIMITED, was incorporated on August 27, 1997 and is in the business of Cafeterias, fast-food restaurants and other food preparation in market stalls (NIC Code 2008 – 56102) | 990,911 | 41,216 | |
| 2.102 | M/s Shivalik Rasayan Limited | Sep/2019 | FDI | FEMA 20(R)/2017-RB | contravention of paragraph 2 (2) and paragraph 2 (3) respectively of Schedule I to Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2017 | (i) 05 days (ii) 190 to 240 days | (i) delay in allotment of shares to a person resident outside India (ii) delay in refund of excess share application money | The Indian company (applicant) was incorporated on March 16, 1979 under the Companies Act, 1956 (CIN L24237UR1979PLC005041). The applicant company is engaged in the activity of manufacturing of organophosphorus based insecticides and chemicals. | (i) 32599587 (ii) 276477905 | 230,000 | |
| 2.103 | M/s Bestinet India Private Limited | Sep/2019 | FDI | FEMA 20/2000-RB | (i) Violation of Paragraph 8 of Schedule I to Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 (ii) Delay in reporting | (i) 7 months and 21 days (ii) 1 years 1 months and twenty days | (i) allotment of shares prior to the receipt of amount of consideration (ii) delay in submission of form FCGPR to the Reserve Bank | The applicant, M/s Bestinet India Private Limited was incorporated on April 17, 2017, under the Companies Act, 2013, as per the Certificate of Incorporation issued by the Registrar of Companies, Government of India, Ministry of Corporate Affairs. The company is engaged in the business of providing information technology and computer service activities to its clients. | (i) & (ii) 999990 | 44,170 | |
| 2.104 | M/s Chatpay Commerce Private Limited | Sep/2019 | FDI | (i) FEMA 20/2000-RB (ii) FEMA 20(R)/2017-RB | (i) Delay in reporting (iii) Violation of paragraph 2 of Schedule I to Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2017 | (i) 7 months and 12 days to 1 years and 12 days (ii) 11 months and 8een days to 1 years 7 months and 12 days | delay in submission of form FCGPRs (ii) delay in refund of excess share application money to the foreign investor/persons resident outside India | The applicant, M/s Chatpay Commerce Private Limited, was incorporated on June 15, 2015, under the Companies Act, 2013, as per the Certificate of Incorporation issued by the Deputy Registrar of Companies, Karnataka. The activity undertaken by the company is to act as principal agent, manager and distributor in carrying out trading and B2B e-commerce/m-commerce of all types of goods and services. | (i) 3163298856 (ii) 7670468 | 60,461 | |
| 2.105 | M/s Elektrobit India Private Limited | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 2 years and 6 days | delay in reporting receipt of foreign inward remittance towards subscription to equity | The applicant, M/s Elektrobit India Private Limited, was incorporated on April 27, 2016, under the Companies Act, 2013, as per the Certificate of Incorporation issued by the Central Registration Centre, Ministry of Corporate Affairs, Government of India. The activity undertaken by the Company is to provide embedded and connected software for the automotive industry. | 95,979,000 | 114,000 | |
| 2.106 | M/s eQuadriga Software Private Limited | Sep/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 2 months and 10 days | Delay in refund of excess share application money to the nonresident buyer | The applicant, M/s eQuadriga Software Private Limited, was originally incorporated on November 8, 2000, under the Companies Act, 1956, as per the Certificate of Incorporation issued by the Registrar of Companies, Tamil Nadu. Subsequently, the name of the company was changed to M/s GFT Technologies India Private Limited, on March 24, 2004, and again the name of the company was changed to M/s eQuadriga Software Private Limited, as per the fresh Certificate of Incorporation consequent upon change of name, issued by the Registrar of Companies, Tamil Nadu on June 13, 2008. The company is engaged in the business of providing computer consultancy and computer facilities management. | 128,439 | 50,642 | |
| 2.107 | M/s Finnew Solutions Private Limited | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 12 days to 7 months and 27 days (ii) 1 years 7 months and 2 days to 1 years 4 months and 29 days (iii) 1 months and 3 days to 7 months and 9 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity, (ii) delay in refund of excess share application money to the foreign investors (iii) delay in submission of form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | M/s Finnew Solutions Private Limited, was incorporated on November 23, 2015, under the Companies Act, 2013, as per the Certificate of Incorporation, issued by the Registrar of Companies, Karnataka. The activity undertaken by the company is to provide technology based innovative solutions around financial services to individuals and corporates. | (i) 4728137880 (ii) 1622700 (iii) 8192460000 | 85,436 | |
| 2.108 | M/s Fortuna Urbanscape Private Limited | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 4 days | delay in reporting receipt of foreign inward remittance in form ARF towards subscription to equity | The applicant, M/s. Fortuna Urbanscape Private Limited, was incorporated on February 21, 2011, under the Companies Act, 1956, as per the Certificate of Incorporation issued by theDeputy Registrar of Companies, Karnataka. The activity undertaken by the company is to carry out construction of buildings on own-account basis or on a fee or contract basis. | 128,278,884 | 14,000 | |
| 2.109 | M/s Gessmann Controllers India Private Limited | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 years 2 months and twenty days | delay in submission of form FCGPR | The applicant, M/s Gessmann Controllers India Pvt. Ltd, was incorporated on December 20, 2016, under the Companies Act, 2013, as per the Certificate of Incorporation issued by the Deputy Registrar of Companies, Karnataka. The activity undertaken by the company is to develop, design, import, assemble, test, export, commission, manufacture, trade industrial controllers, control unit and operator control stations and panels and its services. | 18,750,000 | 72,500 | |
| 2.110 | M/s Humble Mobile Solutions Private Limited | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 10 days to 2 years 11 months and 21 days (ii) 8 days to 2 months and 26 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity, (ii) delay in submission of form FCGPRs | The applicant, M/s Humble Mobile Solutions Private Limited, was incorporated on July 17, 2015, under the Companies Act, 1956, as per the Certificate of Incorporation issued by the Registrar of Companies, Karnataka. The activity undertaken by the company is to develop, market, maintain and upgrade a software, mobile application that will allow the customers book, track and pay for services and also track drivers through inbuilt GPS devices. | (i) 2825793435 (ii) 5520288300 | 63,725 | |
| 2.111 | M/s Intraspatial Softech Private Limited | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 8 months and 27 days to 15 years 8 months and 10 days (ii) 5 years 5 months and 8een days to 15 years 3 months and 2 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity, (ii) delay in submission of form FCGPRs | The applicant, M/s Intraspatial Softech Private Limited, was incorporated on September 26, 2002, under the Companies Act, 1956, as per the Certificate of Incorporation issued by the Registrar of Companies, Karnataka. The company is engaged in the business of providing information technology enabled service activities such as photogrammetry mapping, 3D city modeling, GIS application development & data conversions, etc. | (i) 149295091 (ii) 149250000 | 88,410 | |
| 2.112 | M/s JHY Techserve Private Limited | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 days to 1 years 6 months and 4 days (ii) 3 years 6 months and 27 days (iii) 1 days to twenty 3 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity, (ii) delay in refund of excess share application money to the foreign investors/persons resident outside India, (iii) delay in submission of form FCGPRs | The applicant, M/s JHY Techserve Private Limited, was incorporated on December 31, 2014, under the Companies Act, 2013. The activity undertaken by the company is manufacturing, supplying, trading and marketing of automotive subassemblies and non-automotive subassemblies, RO water purifiers assembly, valves, plastic raw material and steels, hand tools, aerospace, etc. | (i) 3451617200 (ii) 3194500 (iii) 8999333000 | 120,269 | |
| 2.113 | M/s Marlabs Innovations Private Limited | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3 years 3 months and 25 days (ii) 8 years 1 months and 6teen days | (i) allotment of shares beyond 180 days from receipt of amount of consideration (ii) delay in submission of form FCGPR | The applicant, M/s Marlab Innovations Private Limited was incorporated on June 13, 2006, under the Companies Act, 1956, as per the Certificate of Incorporation issued by the Registrar of Companies, Karnataka. The company is engaged in the business of providing information technology and computer service activities to its clients. | (i) 12540000 (ii) 12540000 | 56,375 | |
| 2.114 | M/s Matchmove India Private Limited | Sep/2019 | FDI | FEMA 20(R)/2017-RB | Contravention of Paragraph 2 of Schedule I to Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2017 | 12 days to 2 months and 2 days | delay in allotment of shares beyond 60 days from the date of receipt of inward remittance | The applicant, M/s Matchmove India Private Limited, was incorporated on August 12, 2014, under the Companies Act, 2013, as per the Certificate of Incorporation issued by the Registrar of Companies, Delhi. The company is engaged in the business of information technology and computer service activities. | 63,500,000 | 367,500 | |
| 2.115 | M/s Phi Property Management Services Private Limited | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 years 1 months and 10 days (ii) 1 months and 22 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of form FCGPR | The applicant, M/s Phi Property Management Services Private Limited, was incorporated on May 01, 2016, under the Companies Act, 2013, as per the Certificate of Incorporation issued by the Central Registration Centre, Government of India, Ministry of Corporate Affairs. The activity undertaken by the company is to carry out inspection and quality audits of homes, offices, apartment complexes and industries. | (i) 4985000 (ii) 5000000 | 5,628 | |
| 2.116 | M/s Pravaa Infosystems Private Limited | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 months and 12 days to 5 months and 29 days (ii) 5 years 2 months and 29 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of form FCGPR | The applicant, M/s Pravaa Infosystems Private Limited, was incorporated on January 07, 2009, under the Companies Act, 1956, as per the Certificate of Incorporation issued by the Registrar of Companies, Karnataka. The company is engaged in the business of providing software, Information Technology and Business Process Outsourcing services to its clients. | (i) 131366560 (ii) 131327200 | 34,125 | |
| 2.117 | M/s Raffles Residency Private Limited | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) twenty days to 4 years 8 months and 4 days (ii) 3 days to 10 months and 12 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of form FCGPRs | The applicant, M/s Raffles Residency Private Limited, was incorporated on November 26, 2010, under the Companies Act, 1956, as per the Certificate of Incorporation issued by the Deputy Registrar of Companies, Karnataka. The company is engaged in the business of construction and development of residential premises. | (i) 13035508300 (ii) 16980969077 | 501,175 | |
| 2.118 | M/s RDA Labs India Private Limited | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 8 months and 14 days (ii) 1 years 5 months and twenty days (iii) 9 months and 5 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) allotment of shares prior to receipt of share application money (iii) delay in submission of form FCGPRs | The applicant, M/s RDA Labs India Private Limited, was incorporated on October 26, 2015, under the Companies Act, 2013, as per the Certificate of Incorporation issued by the Deputy Registrar of Companies, Karnataka. The company is engaged in the business of providing software and information technology related services to its clients. | (i) 39827500 (ii) 172500 (iii) 40000000 | 21,834 | |
| 2.119 | M/s SolutionsIQ India Consulting ServicesPrivate Limited | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3 months and 2 days to 8 years 1 months and 28 days (ii) 6 years 9 months and 9 days to 6 years 11 months and 10 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of form FCGPRs | The applicant, M/s SolutionsIQ India Consulting Services Private Limited, was incorporated on April 19, 2010, under the Companies Act, 1956, as per the Certificate of Incorporation issued by the Assistant Registrar of companies, Karnataka. The activity undertaken by the company is training and providing consultancy services related to HR & IT. | (i) 56371720 (ii) 26370060 | 50,500 | |
| 2.120 | M/s Wire Developers Private Limited | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 8een days to 10 years 4 months and 19 days (ii) 1 months and 5 days to 1 years 2 months and 7teen days (iii) 1 months and 28 days to 1 years and 6teen days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) allotment of shares beyond 180 days from the date of receipt of inward remittances (iii) delay in submission of form FCGPRs | The applicant, M/s Wire Developers Private Limited, was incorporated on September 21, 2006, under the Companies Act, 1956, as per the Certificate of Incorporation issued by the Registrar of Companies, NCT of Delhi and Haryana. Subsequently, the company has shifted its registered office from the State of Delhi to Karnataka with effect from April 30, 2014. The company is engaged in the business of providing management consultancy, sales and marketing services to real estate developers. | (i) 3842755504 (ii) 3374715492 (iii) 3247155000 | 289,139 | |
| 2.121 | M/s Yulu Bikes Private Limited | Sep/2019 | FDI | FEMA 20(R)/2017-RB | Contravention of Paragraph 2 of Schedule I to Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2017 | 1 years and 4 months | allotment of shares to persons resident outside India, prior to receipt of inward remittances | The applicant, M/s Yulu Bikes Private Limited, was incorporated on August 07, 2017, under the Companies Act, 2013, as per the Certificate of Incorporation issued by the Registrar of Companies, Ministry of Corporate Affairs, Government of India. The company is engaged in the business of renting of bicycles. | 19,209 | 2,552 | |
| 2.122 | Nelson Stud Welding India Private Limited | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 days and 1 months & 4 days (ii) 9 days and 23 days | (i) delay in reporting foreign inward remittances received for issue of shares (ii) delay in filing Form FCGPR after issue of shares | The applicant company, incorporated on May 13, 2016, is engaged in the business of trading of threaded fasteners, shear connectors, concrete anchors, weld studs and bosses, etc | (i) 637888307 (ii) 16320580 | 21,850 | |
| 2.123 | M/s. Ordain Healthcare Global Pvt Ltd. | Sep/2019 | FDI | (i) and (ii) FEMA 20/2000-RB (iii) FEMA 20(R)/2017-RB | Delay in reporting | (i) 3 days to 1 months 18 days (ii) 2 days to 7 months 14 days (iii) 3 months 30 days | (i) delay in reporting of inflow of funds to Reserve Bank received from a person resident outside India (ii) delay in submission of Form FCGPR (iii) delay in allotment of capital instruments | The applicant company was incorporated on July 07, 2011 under the provisions of the Companies Act, 1956 (Registration No. U24296TN2011PTC081413) and is engaged in business of manufacture of medicinal substances used in the manufacture of pharmaceuticals: antibiotics, endocrine products, basic vitamins; opium derivatives; sulpha drugs; serums and plasmas; salicylic acid, its salts and esters; glycosides and vegetable alkaloids; chemically pure suger etc. | (i) 6581225906 (ii) 18299795200 (iii) 1911146 | 145,831 | |
| 2.124 | Pi Digital Media Network Pvt. Ltd. | Sep/2019 | ECB | FEMA 3/2000-RB | Delay in reporting | December 05, 2018 (date of firt remittance) to June 27, 2019 | (i) availing External Commercial Borrowing (ECB) when the applicant was not an eligible borrower (ii) drawdown on ECB loan before obtaining Loan Registration Number (LRN) from the Reserve Bank of India (RBI) (iii) noncompliance with reporting requirements for ECB. | The applicant company entered into a loan agreement dated December 04, 2018 with its parent company, PIPL, wherein PIPL had agreed to provide a foreign currency loan of AUD 2,50,000 (INR 1,28,12,500). The applicant company received three remittances viz. Rs 5,13,000, Rs. 4,89,500 and Rs. 4,88,000 on December 05, 2018, March 11, 2019 and May 13, 2019 respectively under the loan arrangement. This loan was provided to meet the working capital requirements of the applicant company at a rate of interest equal to LIBOR + 1% with repayment due after completion of 5 years. On the date of first inward remittance, i.e December 05, 2018, the company, being engaged in service sector, was not eligible to avail ECB. However, post the date of notification of the revised ECB framework i.e. January 16, 2019, the company became eligible to raise ECB (all entities who were eligible to receive FDI, were declared eligible to raise ECB also). | 12,812,500 | 118,039 | |
| 2.125 | Ms Prachi Garg | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 9Y 10M 7D | delay in filing form FCTRS | The applicant (Indian Resident) transferred 572 equity shares of M/s Info Cepts Technologies Private Limited, to Mr Rohit Bhayana (Non Resident). The remittance was received in the year 2005, however form FCTRS was notfiled within the timelines prescribed under the applicable FEMA Regulations. | 1,318,482 | 34,792 | |
| 2.126 | Mr. Pratheesh Kumar | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 5 years 11 months 4 days | The contravention sought to be compounded is delay in reporting the transfer of shares i.e., delay in submission of FCTRS | The applicant, a Non- Resident Indian (NRI) by name Mr. Pratheesh Kumar, is a shareholder on non-repatriable basis in M/s. Contracting Plus Solutions Pvt Ltd., a private limited company incorporated under the Companies Act, 1956 on July 23, 2008 with CIN U72900PY2008PTC002197. The applicant sold 2400 equity shares of ₹100/- each at a negotiated price of ₹100/- to the Non-Resident, Mr.Fergal Seamus Lennon, Ireland. | 240,000 | 16,000 | |
| 2.127 | M/s Procter & Gamble Home Products Pvt Ltd | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1Y 10M 8D | Delay in filing Form FCGPR to Reserve Bank after issue of shares to person resident outside India | Its main activities are of Manufacturing, trading and selling of branded packaged fast moving consumer goods in the fabric of homecare, babycare, skincare and haircare business. | 54,998,982 | 105,833 | |
| 2.128 | Ms Roopa Andhare | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1Y 3M 8D to 1Y 3M 28D . | delay in filing form FCTRS | The applicant (Indian Resident) transferred 452 equity shares of M/s Infomoko Technology Pvt Ltd, to M/s Roundglass Partners LLC (Non Resident). The remittances were received in the year 2016, however form FCTRS was not filed within the timelines prescribed under the applicable FEMA Regulations. | 361,523 | 12,667 | |
| 2.129 | M/s Seafoam Infosolutions Private Limited | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y 0M 11D to 0Y 6M 29D (ii) 2Y 6M 23D (iii) 0Y 7M 3D to 2Y 0M 26D | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in filing Form FCGPR after issue of shares (iii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within180 days or 60days/ 75 days (as applicable) from the receipt of the inward remittance | Its main activities are Computer consultancy and computer facilities management activities | (i) 102416 (ii) 99990 (iii) 102416 | 22,185 | |
| 2.130 | M/s Shopsense Retail Technologies Private Limited | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y 0M 11D to 1Y 8M 16D (ii) 0Y 4M 23D to 2Y 8M 10D | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in filing Form FCGPR after issue of shares | Its main activities are of other commission agents. | (i) 13,40,57,834 (ii) 15,18,26,000 | 481,500 | |
| 2.131 | Smt. Namrata Pujara | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 3846 days | The contraventions sought to be compounded is for delay in submission of form FCTRS on transfer of shares from Resident to NonResident | The applicant, Mrs. Namrata Pujara, wife of Mr. Rajiv Pujara, a resident of India, had transferred 28076 numbers of equity shares of M/s Atlas Healthcare Software India Private Limited to M/s Atlas Database Software Corporation DBA Atlas Development Corporation, a company resident in the United States of America. | 280,760 | 20,750 | |
| 2.132 | M/s Sobo Estate Development Private Limited | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y 0M 1D to 0Y 0M 26D (ii) 0Y 0M 1D | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in filing Form FCGPR after issue of shares | Its main activities are of real estate | (i) 206,23,05,974 (ii) 145,80,974 | 61,667 | |
| 2.133 | M/s STG Refractory Services Private Limited | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y 0M 3D (ii) 1Y 3M 27D | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in filing Form FCGPR after issue of shares | Its main activities are of Repair and maintenance of mining, construction, and oil and gas field machinery; metallurgy machinery | (i) 60000000 (ii) 60000000 | 90,833 | |
| 2.134 | M/s Strama-Summit Machinery Private Limited | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y 6M 15D to 0Y 8M 30D (ii) 0Y 7M 27D to 1Y 7M 2D (iii) 0Y 1M 11D to 0Y 4M 7D . | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in filing Form FCGPR after issue of shares (iii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within180 days or 60day | Its main activities are of Manufacture of other electrical equipment | (i) 1370688 (ii) 1367380 (iii) 353308 | 63,000 | |
| 2.135 | Suncity Sheets Private Limited | Sep/2019 | Export of Goods and Services | FEMA 23/2000-RB | Delay in reporting | 7 years and 1 months | (i) failure to ship goods within a period of one year from the date of receipt of advance payment (ii) refund of unutilized portion of advance payment after expiry of one year without the permission of Reserve Bank of India | The applicant company was incorporated under the Companies Act, 1956 as M/s Suncity Sheets Private Limited and is engaged in the business of exporting stainless steel coil, sheets, circles and tubes. During the year 2011, a total advance payment of USD 315028.57 was received from one of its overseas buyers (a company incorporated in UAE) on different dates. The overseas buyer cancelled the order and as per the contract, USD 175027.89 was adjusted as cancellation charges and the remaining amount of USD 140000.68 was remitted to the overseas buyer after one year (in 2013) of receipt of advance payment without prior permission of RBI. Thus, the applicant had failed to ship the goods within a year of receiving the order and had refunded the remaining amount after one year without approval from RBI. | 14,144,329 | 156,082 | |
| 2.136 | M/s Tata International DLT Private Limited | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 8Y 3M 8D to 12Y 9M 4D (ii) 0Y 6M12D to 11Y 10M 30D (iii) 0Y 11M 28D to 2Y 9M 10D | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in filing Form FCGPR after issue of shares (iii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within180 days or 60day | Its main activities are of Manufacturers of Trailers, Semi-Trailers, Trolleys, Car Carrier, Truck Chassis Carrier, Tippers and other trailer components. | (i) 85586891 (ii) 85400000 (iii) 70466 | 3,368,507 | |
| 2.137 | Tenon Facility Management India Private Limited | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 7 days to 10 years, 6 months and 2 days (ii) 26 days to 10 years, 8 months and 4 days (iii) 1 days | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in filing Form FCGPR after issue of shares (iii) delay in issue of shares after receipt of inward remittance | The applicant company was incorporated on November 27, 2007 as M/s Tenon Property Services Private Limited and is engaged in the business of providing facility management services. | (i) 12669066279 (ii) 334743900 (iii) 39194400 | 2,307,979 | |
| 2.138 | M/s Thermax SPX Energy Technologies Ltd | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 8Y 10M 6D | Delay in filing Form FCGPR to Reserve Bank after issue of shares to person resident outside India | Its main activities are of Design, manufacture & supply of electrostatic precitators and regenerative air gas heaters | 392 | 18,917 | |
| 2.139 | M/s. Tosaf India Additives Solutions Pvt Ltd. | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3 months 5 days to 3 months 9 days (ii) 6 months 12 days to 1 years 9 months 27 days | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in filing Form FCGPR after issue of shares | The applicant company was incorporated on April 23, 2016 under the provisions of the Companies Act, 2013 (Registration No. U24100TN2016FTC110014) and is engaged in the business of manufacture of other plastic products n.e.c. | (i) 30,00,000 (ii) 30,00,000 | 24,435 | |
| 2.140 | M/s Transerv Pvt Ltd | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y 0M 1D to 0Y 1M 24D (ii) 0Y 1M 8D to 3Y 10M 22D | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in filing Form FCGPR after issue of shares | Its main activities are of Other financial service activities, except insurance and pension funding activities. | (i) 666,69,981 (ii) 622,18,562 | 42,792 | |
| 2.141 | UHYR Labs Private Limited | Sep/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 months and 27 days (ii) 1 years, 6 months and 18 days | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in filing Form FCGPR after issue of shares | The applicant company was incorporated on July 27, 2016 and is engaged in the business of providing software support and maintenance to the clients. | (i) 700,447 (ii) 700,477 | 21,830 | |
| 2.142 | M/s. Unilabel ID Service India Pvt Ltd. | Sep/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 3 months 22 days | The contravention sought to be compounded is delay in refund of excess consideration | The applicant company was incorporated on January 02, 2019 under the provisions of the Companies Act, 2013 (Registration No. U74999TN2019FTC126645) and is engaged in the business of manufacture of other textiles n.e.c. The applicant received one foreign inward remittance of ₹13,56,404.00 on 28.02.2019 from M/s. Unilabel ID Service, France towards subscription to capital instruments. | 6,404 | 199 | |
| 2.143 | Agro Dutch Industries Limited | Oct/2019 | Export of Goods and Services | FEMA 23/2000-RB | Delay in reporting | 5 years and 10 months | The contravention sought to be compounded was related to the mode of receipt of payment for an export transaction (through a third party) | The applicant company was incorporated on May 29, 1992, as Agro Dutch Industries Ltd, for growing, processing and canning of white button mushrooms. During June - September 2013, the company had made exports to Russia and the proceeds amounting to USD 187,693.50 were received through the Authorised Dealer (AD) bank. However, the payments were made by a third party - associate company of the importer. The AD bank cancelled the e-BRCs (Bank Realization Certificates) related to the export proceeds received from a third party, after the Commissioner of Customs sent a letter dated February 24, 2015. As the company had run into losses, the operations of the company were discontinued completely in August 2018. Subsequently, liquidation/winding up order has been passed by Hon’ble High court of Punjab and Haryana at Chandigarh on May 16, 2019. As the applicant company is now closed, the proceeds cannot be refunded to the importer. In view of the facts of the case and the status of the entity, Trade Division, FED, CO has considered the administrative action as deemed to be complete as on the date of submission of the compounding application. | 11,383,284 | 135,375 | |
| 2.144 | M/s. Akshayam Aquatech Pvt Ltd | Oct/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 1 months 17 days | The contravention sought to be compounded is delay in receipt of consideration | The applicant company was incorporated on July 20, 2017 under the provisions of the Companies Act, 2013 (Registration No. U15549TN2017PTC117698) and is engaged in the business of wholesale of other basic/manufactured food stuffs n.e.c. | 37,650 | 489 | |
| 2.145 | Amneal Pharmaceuticals Pvt. Ltd | Oct/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 4 years and 11 months | (i) foreign investment in brownfield pharmaceutical sector without prior government approval (ii) transfer of shares from one nonresident company to another nonresident company in a sector under government approval route, without the approval of the erstwhile Foreign Investment Promotion Board (FIPB) | The applicant company was incorporated as Amneal Pharmaceuticals Private Limited. Amneal Life Sciences Private Limited (ALS) another Indian company belonging to Amneal group, merged with the applicant company w.e.f. April 1, 2014. The Applicant Company and ALS received foreign investments from Amneal Pharmaceuticals LLC, USA (Amneal US), Amneal Pharma Investment Holding (APIH), Mauritius, and Amneal Singapore Pvt. Ltd. (ASPL), during the period from 2006 to 2014. The amounts received under the abovementioned foreign investment by these two entities were utilized to acquire entire share capital of another Indian company viz. Amneal Oncology Private limited (formerly known as Epsilon Pharmaceuticals Private limited – incorporated under the Companies Act 1956 on 10/11/1998). Pursuant to Notification No. FEMA 242/2012 – RB dated October 19, 2012, brownfield foreign investment in pharmaceutical sector (investment in existing Indian pharmaceutical companies) was brought under the government approval route with effect from October 19, 2012. However, since the applicant company did not obtain such approval, it was in contravention. Further, the shares of the Applicant Company and ALS were transferred from two foreign entities namely APIH and Amneal US to ASPL in October 2013 and March 2014 respectively. Such transfer of shares, from non-resident companies to another non-resident company, without FIPB approval, of a company engaged in a sector requiring government approval is in contravention of Regulation 3 of Notification No 20/2000-RB dated May 3, 2000. | 4,420,137,015 | 31,040,959 | |
| 2.146 | Beachem Private Limited | Oct/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3 months & 7 days and 4 months & 10 days (ii) 10 months & 19 days and 11 months & 21 days (iii) 1 years, 1 months and 8 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (iii) allotment of shares to person resident outside India prior to receipt of the amount of consideration and delay in refund of excess share application money | The applicant company, incorporated on May 17, 2017, is engaged in the business of buying, transporting and exporting goods being pieces/ items of arts, antiques, handicrafts on retail as well as wholesale basis in India. | (i) 639,208 (ii) 633,600 (iii) 5,602 | 23,357 | |
| 2.147 | M/s. CDM Smith Global Services India Pvt Ltd. | Oct/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 7 months 20 days | The contravention sought to be compounded is delay in refund of excess consideration | The applicant company was incorporated on October 24, 2018 under the provisions of the Companies Act, 2013 (Registration No. U74990TN2018FTC125411) and is engaged in the business of architectural and engineering activities and related technical consultancy. | 26,900 | 1,722 | |
| 2.148 | Crosslay Remedies Limited | Oct/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 days to 3 months and 22 days (ii) 1 days to 1 years, 2 months and 2 days. (iii) 1 years, 5 months & 6 days and 1 years, 9 months & 26 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (iii) allotment of shares to person resident outside India prior to receipt of the amount of consideration and delay in refund of excess share application money | The applicant company was incorporated on January 8, 2002 as Crosslay Remedies Private Limited and the name was changed to Crosslay Remedies Limited on August 11, 2006. The applicant is engaged in hospital activities. | (i) 71,37,0445.20 (ii) 15,75,726.20 (iii) 90,720 | 293,392 | |
| 2.149 | Curryfruit IT Services Private Limited | Oct/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 9 months and 19 days (ii) 1 years, 4 months and 14 days (iii) 5 months | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (iii) allotment of shares to person resident outside India prior to receipt of the amount of consideration and delay in refund of excess share application money | The applicant company, incorporated on March 14, 2017, is engaged in computer consultancy and computer facilities management activities. | (i) 104,576 (ii) 99,900 (iii) 99,900 | 22,119 | |
| 2.150 | DCI India Private Limited | Oct/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 6 days to 10 years, 6 months and 10 days (ii) 4 months and 20 days (iii) 1 years & 24 days and 9 years (iv) 10 months & 1 days (v) 12 years, 8 months and 9 days | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in filing Form FCGPR after issue of shares (iii) delay in issue of shares after receipt of inward remittance (iv) delay in refund of share application money against which shares were not issued (v) taking on record in its books by the applicant company, the transfer of shares by residents to nonresident without obtaining certified Form FCTRS from the AD bank, | The applicant company, incorporated on August 17, 2006, is engaged in the business of architectural and engineering activities and related technical consultancy. | (i) 89,34,717.52 (ii) 83,73,710 (iii) 83,73,717.52 (iv) 561,000 (v) 1000 | 110,651 | |
| 2.151 | Deepesh Tayal | Oct/2019 | ODI | FEMA 120/RB-2004 | Delay in reporting | 2 and half years | The contraventions sought to be compounded are delay in submission of share certificate or other evidence of investment within six months, delayed submission of Annual Performance Reports (APRs) and delayed reporting of remittance made towards overseas direct investment. | The applicant is a Resident Individual who remitted USD 117,000 to Mr Kasim Bamba ( a non resident) on December 1, 2015 overseas, representing 15% investment in JV Greenwich Industries Ltd in Ghana. According to the applicant, he was unaware of the regulations requiring resident individuals to submit Form ODI-I at the time of making overseas direct investment. On learning of the regulations, he submitted Form ODI-I to his AD bank in May 2016 which was however returned due to non submission of supporting documents. Finally, the acceptable set of documents were submitted to the AD bank in May 2018 and UIN was allotted in November 2018. The APRs were filed thereafter with delay for the years 2015, 2016 and 2017 in January 2019. The share certificate was submitted in June 2016 which was delayed beyond six months of remittance | 7,839,000 | 71,000 | |
| 2.152 | Digital IP Insights Private Limited | Oct/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 3 years, 10 months and 2 days | The contravention sought to be compounded is of taking on record in its books by the applicant company, the transfer of shares by residents to nonresident without obtaining certified Form FCTRS from the AD bank | The applicant company, incorporated on June 9, 2015, is engaged in the business of intellectual property protection and enforcement of intellectual property rights. | 99,990 | 13,920 | |
| 2.153 | M/s. Efficient Light Source Technologies Pvt Ltd. | Oct/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 12 years 5 months (ii) 13 years 1 months | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant company was incorporated on September 22, 2005 under the provisions of the Companies Act, 1956 (Registration No. U31501TN2005PTC057588) and is engaged in the business of manufacture of electric lighting equipment. | (i) 222,61,250 (ii) 221,61,250 | 1,295,000 | |
| 2.154 | M/s. Fast Forward Logistics India Pvt Ltd. | Oct/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 25 days to 9 months 25 days (ii) 1 years 4 months 27 days to 1 years 9 months 18 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant company was incorporated on November 08, 2013 under the provisions of the Companies Act, 2013 (Registration No. U74999TN2013PTC093624) and is engaged in the business of sea and coastal freight water transport. | (i) 537,78,493.02 (ii) 704,72,320 | 293,735 | |
| 2.155 | Hotel Queen Road Private Limited | Oct/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | financial years 2006-2007 to 2016-2017 | The contraventions sought to be compounded are those of delay in filing the Annual Return on Foreign Liabilities and Assets (FLAR)/ Part B of form FCGPR | The applicant company, incorporated on August 23, 2001, is engaged in the business of hospitality. | NIL | 110,000 | |
| 2.156 | Intellosol Softwares India Private Limited | Oct/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 days and 15 days (ii) 11 days to 3 months and 4 days (iii) 3 months | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (iii) issue of shares to the person resident outside India prior to receipt of the amount of consideration | The applicant company, incorporated on November 20, 2015, is engaged in the business of providing software support and maintenance to the clients. | (i) 334,75,036 (ii) 466,81,990 (iii) 99,990 | 34,910 | |
| 2.157 | Intertec Instrumentation Private Limited | Oct/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | financial years 2011-2012 to 2016-2017 | The contraventions sought to be compounded are those of delay in filing the Annual Return on Foreign Liabilities and Assets (FLAR) | The applicant company, incorporated on May 13, 2011, is engaged in other professional, scientific and technical activities, n.e.c. | NIL | 60,000 | |
| 2.158 | K. P. Tiwari | Oct/2019 | Section 42-1 of FEMA | Section 42-1 of FEMA, 1999 | contraventions committed by the company where he was a Director | 14 years and 7 months | The compounding is sought for contravention of Section 42-1 of FEMA, 1999 which stipulates that ‘Where a person committing a contravention of any of the provisions of this Act or of any rule, direction or order made thereunder is a company, every person who, at the time the contravention was committed, was in charge of, and was responsible to, the company for the conduct of the business of the company as well as the company, shall be deemed to be guilty of the contravention and shall be liable to be proceeded against and punished accordingly’. | The abovementioned applicant was a Director of an Indian company viz. TCL during the relevant period when the company had hired services of two foreign satellite service providers and had remitted transponder hiring charges by way of multiple remittances to the Satellite Service Providers during the period September 2004 to December 2012, through EEFC and non-EEFC accounts. The payment towards transponder charges by TV Channels/ Internet Services provider using non-EEFC account amounts to contravention of Rule 4 of FEM (CAT) Rules, 2000, read with Item No. 6(a) of Schedule II of the said Rules. As per Rule 4 of FEM (CAT) Rules, 2000, no person shall draw foreign exchange for a transaction included in the Schedule II without prior approval from GoI. Further, as per Item No. 6(a) of Schedule II, any remittance towards hiring charges of transponders by TV channels shall require prior approval from GoI. In the instant case, prior approval from GoI was not obtained. | 1,968,700,133 | 1,481,525 | |
| 2.159 | M/s MeetApp India Private Limited | Oct/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 379 days (ii) 761 days (iii) 59 days | (i) delay in reporting of inward remittance against issue of equity shares (ii) delay in submission of FCGPR to the Reserve Bank after issue of shares (iii) delay in receiving of the inflow amount beyond stipulated days after issue of shares to a person resident outside India | The applicant company, M/s MeetApp India Private Limited. is a private Limited company incorporated on March 31, 2017 under the Companies Act 2013. The applicant is engaged in providing software support and maintenance to the clients. | (i) 50,30,000 (ii) 51,00,000 (iii) 51,00,000 | 907,400 | |
| 2.160 | Shri Sunil Kantilal Dalwadi | Oct/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 2Y 11M 0D | delay in filing form FCTRS | The applicant (Indian Resident) transferred 5000 equity shares of M/s Esencia Technologies India Pvt Ltd, to M/s Esencia Technologies Inc (Non Resident). The remittance was received in the year 2016, however form FCTRS was notfiled within the timelines prescribed under the applicable FEMA Regulations. | 130,000 | 12,917 | |
| 2.161 | M/s Brunswick Corporate Communications LLP | Oct/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 0Y 2M 7D to 1Y 9M 3D | Delay in reporting receipt of foreign inward remittance towards subscription to equity | The applicant is engaged into other professional, scientific and technical activities | 7,127,596 | 168,333 | |
| 2.162 | M/s CONSTELLATION UNIFIED CLOUD PRIVATE LIMITED | Oct/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 705 days (ii) 146 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The company had contravened Para 9(1) (A) of Schedule 1 to Notification No. FEMA 20/2000-RB dated May 03, 2000 in respect of the under mentioned foreign inward remittance. The company had allotted shares before receipt of money | 3,120,990 | 58,283 | |
| 2.163 | M/s Inventronics SSL India Pvt Ltd | Oct/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 0Y 2M 11D | Neither the equity instruments were issued, nor the money refunded to the foreign investor within 60days/75days (as applicable) from the receipt of the inward remittance | Its main activities are to establish and carry on business of manufacture, produce, import, export, buy, sell, supply, distribute, store, stock, maintain, dealin, assemble, fit, repair, overhaul, alter and improve all types of electrical components, devices , equipments and appliances etc | 2,500,000 | 62,500 | |
| 2.164 | M/s Konverge Healthcare Private Limited | Oct/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 months and 15 days | The contravention sought to be compounded is the delay in reporting receipt of foreign inward remittance in form ARF towards subscription to equity | The activity undertaken by the company is wholesale trade of pharmaceutical and medical goods. The applicant had received funds towards share application money from the non-resident investor, namely, M/s Beta TC Holdings Pte Ltd, Singapore | 2,000,000 | 27,000 | |
| 2.165 | Ms Parul Dalwadi | Oct/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 2Y 10M 12D | delay in filing form FCTRS | The applicant (Indian Resident) transferred 5000 equity shares of M/s Esencia Technologies India Pvt Ltd, to M/s Esencia Technologies Inc (Non Resident). The remittance was received in the year 2016, however form FCTRS was notfiled within the timelines prescribed under the applicable FEMA Regulations. | 130,000 | 12,917 | |
| 2.166 | M/s Saurashtra Freight Pvt Ltd | Oct/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1Y 8M 20D | Delay in filing Form DI to Reserve Bank after making Downstream Investment. | Its main activities are Cargo handling incidental to water transport The applicant filed form DI as indicated above with a delay of 1Y 8M 20D. Whereas, in terms of Regulation 14(6)(ii)(a) of FEMA 20, the Indian company/LLP making downstream investment is to notify SIA, DIPP and FIPB of its downstream investment in the prescribed form within 30 days of such investment, even if capital instruments have not been allotted, alongwith the modality of investment in new/existing ventures(with/without expansion programme). | 9,999 | 8,749 | |
| 2.167 | M/s Unique School App India LLP | Oct/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1Y 5M 3D | Delay in reporting receipt of foreign inward remittance towards subscription to equity | Its main activities are Computer programming, consultancy and related activities | 9,300 | 698 | |
| 2.168 | M/s Val Products India Pvt Ltd | Oct/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y 6M 25D (ii) 11Y 3M 7D (iii) 5Y 9M 18D | (i) delay in reporting of inward remittance against issue of equity shares (ii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the inward remittance (iii) Taking on record by the applicant, the transfer of shares from a Non Resident Indian to a person resident in India, without obtaining approval from RBI. | Its main activities are manufacture of machinery for the dairy industry and for processing of meat ,fish and poultry | (i) 119,32,971 (ii) 259,11,096 (iii) 11,18,200 | 385,249 | |
| 2.169 | M/s Dexhigh Services Private Limited | Oct/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 7 days to 4 months and 10 days | The contraventions sought to be compounded are, allotment of shares prior to receipt of amount of consideration and delay in refund of excess share application money to the foreign investor, persons resident outside India, beyond 75 days from the date of receipt of inward remittance | The company is engaged in the business of providing Software and Information Technology services to its clients. The Company had allotted 99 equity shares worth ₹990.00, to the non-resident investor, Jeonggon Mun, Korea, on August 03, 2018. However, the inward remittance of ₹2,851.04, pertaining to the aforesaid allotment was received on December 13, 2018, with a delay of four months and ten days after the date of allotment of shares, leaving behind an excess share application money of ₹1,861.04. The excess amount of ₹1,861.04, was refunded to the non-resident investor on March 05, 2019, with a delay beyond the stipulated period of 75 days, from the date of receipt of inward remittance. | 285,104 | 3,900 | |
| 2.170 | M/s Double Two India Private Limited | Oct/2019 | FDI | (i) FEMA 20/2000-RB (ii) FEMA 20(R)/2017-RB | Delay in reporting | (i) 1 months and 25 days (ii) 2 months and 28 days to 1 years 10 months and 10 days | (i) delay in submission of form FCGPR to the Reserve Bank, after issue of shares to a person resident outside India (ii) delay in allotment of shares to the foreign investor/persons resident outside India, beyond 60 days from the date of receipt of the inward remittance | The activity undertaken by the company is single brand retailing in readymade garments. The applicant had received funds towards share application money from the non-resident investor, namely, M/s Wakefield Shirt Company Limited, United Kingdom | (i) 75,80,000 (ii) 17,15,000 | 100,445 | |
| 2.171 | M/s Healthifyme Wellness Private Limited | Oct/2019 | FDI | (i) FEMA 20/2000-RB (ii) FEMA 20(R)/2017-RB | Delay in reporting | (i) 8 days to 1 years 11 months and 5 days (ii) 2 days to 3 years and 7 days (iii) 1 months and 2 days to 2 years 6 months and 5 days (iv) 1 years 7 months and 14 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in allotment of shares and delay in refund of excess share application money beyond 180 days from the date of receipt of inward remittance (iii) delay in submission of form FCGPR to the Reserve Bank, after issue of shares to a person resident outside India (iv) delay in refund of excess share application money to the foreign investor/persons resident outside India, beyond 75 days from the date of receipt of the inward remittance | The applicant, M/s Healthifyme Wellness Private Limited, was originally incorporated as M/s Healthifyme Wellness Products and Services Private Limited, on June 22, 2015, under the Companies Act, 2013, as per the Certificate of Incorporation issued by the Registrar of Companies, Karnataka. Subsequently, the company has changed its name as M/s Healthifyme Wellness Private Limited, on March 12, 2018, as per the Certificate of Incorporation pursuant to change of name, issued by Registrar of Companies, Karnataka. The company is engaged in the business of providing health, fitness and wellness products and services through online and offline channels. | (i) 386,36,39,421 (ii) 39,82,341.85 (iii) 33,84,15,744.71 (iv) 69.80 | 560,914 | |
| 2.172 | M/s. IESA Mining Construction Private Limited | Oct/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 1 months and 11 days | The contraventions sought to be compounded are (i) delay in refund of excess share application money beyond the prescribed period | The applicant was incorporated on July 12, 2018 under the provisions of the Companies Act, 2013 and is engaged in the Mining business. The applicant had received ₹ 94,635.00 (Rupees ninety four thousand six hundred and thirty five only) from its foreign investor Mr. Alfredo Quispe Herrera, Peru on January 23, 2019 and allotted 900 shares of face value ₹ 100.00 amounting to ₹ 90,000.00 (Rupees ninety thousand only). The excess share application money amounting to ₹ 4,635.00 (Rupees four thousand six hundred and thirty five only) was refunded by the applicant on May 20, 2019 with a delay of 41 days beyond the prescribed period, in contravention of paragraph 2(3) of Schedule-1 to FEMA 20(R)/2017-RB, whereby if the capital instruments are not issued within sixty days from the date of receipt of the consideration, the same shall be refunded to the person concerned by outward remittance through banking channels or by credit to his NRE/ FCNR(B) accounts, as the case may be, within fifteen days from the date of completion of sixty days. | 4,635 | 77 | |
| 2.173 | M/s iMerit Technology Services Private Limited | Oct/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 7 days to 19 days (ii) 2 years 4 months and thirty days (iii) 8 days to 5 years 8 months and 8een days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) allotment of shares prior to the receipt of inward remittance (iii) delay in submission of form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | The company is engaged in the business of providing information technology and information technology enabled services. | (i) 22,40,07,665 (ii) 3675 (iii) 24,06,91,320 | 57,469 | |
| 2.174 | M/s Jiva Sciences Private Limited | Oct/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 11 months and 7teen days to 1 years 4 months and 11 days days (ii) 2 years 1 months and 19 days to 2 years 5 months and 1 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of form FCGPR to the Reserve Bank, after issue of shares to a person resident outside India | The company is engaged in the business of providing solutions in the field of bovine sperm sorting and research process outsourcing in the area of bio-engineering. | (i) 10,00,000 (ii) 999,660 | 27,090 | |
| 2.175 | M/s Metacube Software Private Limited | Oct/2019 | FDI | (i) FEMA 20/2000-RB (ii) FEMA 20(R)/2017-RB | Delay in reporting | Financial years 2016-17 and 2017-18. | (i) delay in reporting of Annual Return on Foreign Liabilities and Assets return (hereinafter referred to as FLA return) beyond the prescribed period (ii) delay in reporting of FLA return beyond the prescribed period | The applicant was incorporated on April 30, 2004 under the provisions of the Companies Act, 1956 (Registration Number U72200RJ2004PTC019247) and is engaged in Computer programming, consultancy and related activities n.e.c. | NIL | 20,000 | |
| 2.176 | M/s Quavac India Private Limited | Oct/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 months and twenty days (ii) 2 years 5 months and 6 days (iii) 8 months and 22 days to 1 years and 2 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in refund of excess share application money beyond 180 days from the date of receipt of inward remittance, (iii) delay in submission of form FCGPR to the Reserve Bank, after issue of shares to a person resident outside India | The company is engaged in the business of water collection, treatment and supply. | (i) 35,52,000 (ii) 14,250 (iii) 175,39,000 | 79,967 | |
| 2.177 | M/s Ray–Q Interconnection Technologies India Private Limited | Oct/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) twenty days to 1 years and 4 days (ii) 10 years and 8 days (iii) 3 days to 1 years 9 months and 2 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in refund of excess share application money beyond 180 days from the date of receipt of inward remittance (iii) delay in submission of form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | The company is engaged in the business of sales and marketing of electrical interconnection components for industrial use. | (i) 281,41,431.06 (ii) 3242.73 (iii) 305,41,390 | 171,522 | |
| 2.178 | M/s Royal Cyber Private Limited | Oct/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 6 months and 21 days to 3 years 5 months and 11 days (ii) 2 years 2 months and 15 days to 3 years and 10 months (iii) 1 years 4 months and 11 days to 1 years 6 months and 8een days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in refund of excess share application money beyond 180 days from the date of receipt of inward remittance (iii) delay in submission of form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | The activity undertaken by the company is to carry on the business of software design and development, testing, sales, consulting, support service and related activities. | (i) 62,34,649 (ii) 234,64,900 (iii) 60,00,000 | 103,181 | |
| 2.179 | M/s Sree Siddaganga Hospitals Private Limited | Oct/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3 days to 1 months and 2 days (ii) 3 days to 1 months and 2 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | The company is engaged in the business of hospital activities. | (i) 75,00,000 (ii) 75,00,000 | 35,730 | |
| 2.180 | M/s Uipath Business Solutions India Private Limited | Oct/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 7 months and 2 days | The contravention sought to be compounded is allotment of shares to persons resident outside India, prior to receipt of amount of consideration | The company is engaged in the business of providing software and information technology related services to its clients. | 9,977,500 | 99,888 | |
| 2.181 | M/s Vaatsalya Health Care Solutions Private Limited | Oct/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 10 days to 3 months and 28 days | The contravention sought to be compounded is delay in submission of Form FCGPR to the Reserve Bank, after issue of shares to a person resident outside India | The Company is engaged in the business of establishing, operating and managing hospitals in the field of health sciences / industry in India and Overseas and provide consulting and information related services in this area. | 210,249,345 | 34,580 | |
| 2.182 | M/s Xiaomi Technology India Private Limited | Oct/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 months and 12 days (ii) 3 years 10 months and 24 days (iii) 11 months and 6 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in refund of excess share application money to the foreign investors, persons resident outside India, beyond 180 days from the date of receipt of the inward remittances (iii) delay in submission of form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | The activity undertaken by the company is wholesale of telephone, mobile phone and communications equipment and parts. | (i) 61,25,000 (ii) 25,00,000 (iii) 61,00,000 | 37,943 | |
| 2.183 | N. Srinath | Oct/2019 | Section 42-1 of FEMA | Section 42-1 of FEMA, 1999 | contraventions committed by the company where he was a Director | 14 years and 7 months | The compounding is sought for contravention of Section 42-1 of FEMA, 1999 which stipulates that ‘Where a person committing a contravention of any of the provisions of this Act or of any rule, direction or order made thereunder is a company, every person who, at the time the contravention was committed, was in charge of, and was responsible to, the company for the conduct of the business of the company as well as the company, shall be deemed to be guilty of the contravention and shall be liable to be proceeded against and punished accordingly’. | The abovementioned applicant was a Director of an Indian company viz. TCL during the relevant period when the company had hired services of two foreign satellite service providers and had remitted transponder hiring charges by way of multiple remittances to the Satellite Service Providers during the period September 2004 to December 2012, through EEFC and non-EEFC accounts. The payment towards transponder charges by TV Channels/ Internet Services provider using non-EEFC account amounts to contravention of Rule 4 of FEM (CAT) Rules, 2000, read with Item No. 6(a) of Schedule II of the said Rules. As per Rule 4 of FEM (CAT) Rules, 2000, no person shall draw foreign exchange for a transaction included in the Schedule II without prior approval from GoI. Further, as per Item No. 6(a) of Schedule II, any remittance towards hiring charges of transponders by TV channels shall require prior approval from GoI. In the instant case, prior approval from GoI was not obtained. | 1,968,700,133 | 1,481,525 | |
| 2.184 | M/s. Phocos India Solar Pvt Ltd. | Oct/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 25 days to 4 months 26 days (ii) 7 years 4 months 13 days | (i) delay in reporting to Reserve Bank the inflow of funds received from a person resident outside India for allotment of shares (ii) delay in submission of Form FCGPR to Reserve Bank on allotment of shares | The applicant company was incorporated on February 07, 2000 under the provisions of the Companies Act, 1956 (Registration No. U40106TN2000PTC044102) and is engaged in the business of manufacture of other electrical equipment. | (i) 65,16,020 (ii) 45,41,157 | 75,080 | |
| 2.185 | Regent Computronics Private Limited | Oct/2019 | ODI | FEMA 120/RB-2004 | Disinvested stake within one year from the date of the investment, without prior approval of Reserve Bank of India | 1 years and 10 months | The application is in respect of the transaction for undertaking disinvestment within a period of one year, from its overseas joint venture (JV) | The applicant company was incorporated on August 03, 1990 as Regent Computronics Private Limited, under the Companies Act, 1956. It is engaged in the business of operating as computer data processing centre, management information service consultants, dealing in computer hardware and software, etc. The applicant had made an overseas direct investment (ODI) in January 2017 in an overseas JV in the USA. The overseas JV was not successful due to adverse market situation. The applicant disinvested their stake in August 2017, i.e., within one year from the date of their investment, without prior approval of Reserve Bank of India, which is a contravention of Regulation 16(1)(v) of Notification No. FEMA 120/2004-RB. | 11,040,000 | 110,720 | |
| 2.186 | M/s. RUv2 Enterprises Pvt Ltd. | Oct/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 10 months 4 days | The contravention sought to be compounded is delay in reporting to Reserve Bank the inflow of funds received from a person resident outside India for allotment of shares | The applicant company was incorporated on November 30, 2012 under the provisions of the Companies Act, 1956 (Registration No. U15200TN2012PTC088717) and is engaged in the business of other semi-processed, processed or instant foods n.e.c. except farinaceous products and malted foods and manufacturing activities like manufacture of egg powder, sambar powder etc. | 5,000,000 | 16,440 | |
| 2.187 | Seba Bapu Moopan | Oct/2019 | LRS | FEMA 1/2000-RB | Remittance of excess amount under LRS without seeking prior approval from Reserve Bank of India | 2 years | The contravention sought to be compounded is (i) Remittance of excess amount under the Liberalised Remittance Scheme (LRS), without seeking prior approval from Reserve Bank of India. | Smt Seba Babu Moopan (applicant), an Indian resident had remitted an amount of USD 2,71,480 under LRS during the FY 2017-18, which exceeded the prescribed limit of USD 2,50,000. The Bank had reportedly sought clarification from the applicant. The applicant claimed ignorance stating that she assumed that the LRS limit was not inclusive of ODI transactions and hence did not declare the transactions done for family maintenance in the cumulative position while remitting for ODI purpose. As the LRS transactions were monitored manually by the applicant’s bank, control through PAN was not possible. The applicant was issued a memorandum of contravention advising her to remit back the excess amount in the current FY. The applicant has since remitted back the excess amount of USD 21,480. | 1,488,564 | 58,932 | |
| 2.188 | M/s Securisk Insurance Brokers Pvt Ltd | Oct/2019 | FDI | (i) FEMA 20/2000-RB (ii) FEMA 20(R)/2017-RB | Delay in reporting | (i) 1652 days (ii) 990 days iii) 840 days (iv) FY 2016-17 (v) FY 2017-18 | (i) delay beyond 30 days in reporting receipt of foreign inward remittance towards subscription to equity shares (ii) delay beyond 30 days in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India iii) delay in application for refund of excess inflow amount (iv) delay in filing of FLA returns (v) delay in filing of FLA returns | The applicant company was incorporated on July 23, 2013 under the Companies Act 1956. The applicant is engaged in the activities of insurance broking. | (i) 647,97,752 (ii) 15,58,840 iii) 647,97,752 | 9,219,800 | |
| 2.189 | M/s. Seiw Camira Power Pvt Ltd. | Oct/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 months 30 days to 1 years 1 months 29 days | The contravention sought to be compounded is delay in submission of Form FCGPR to Reserve Bank on allotment of shares | The applicant company was incorporated on January 12, 2015 under the provisions of the Companies Act, 2013 (Registration No. U40300TN2015FTC098789) and is engaged in the business of electric power generation using solar energy. | 28,262,550 | 68,670 | |
| 2.190 | Shri K Gokhul | Oct/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 years 3 months | The contravention sought to be compounded is delay in reporting the transfer of shares from resident to nonresident i.e., delay in submission of FCTRS | The applicant, an individual by name Shri K Gokhul, is a resident shareholder in the company M/s. Fulcrum Commercial Real Estate Services Pvt Ltd., a private limited company. The applicant sold 30000 equity shares of ₹10/- each at a negotiated price of ₹25.612/- to the Non-Resident shareholder M/s. Fulcrum Commercial Real Estate Services LLC, New York, USA. | 768,360 | 11,250 | |
| 2.191 | M/s. SHS Enterprises Pvt Ltd. | Oct/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 years 1 months 4 days (ii) 1 years 8 months 19 days | (i) delay in reporting of inflow of funds received from a person resident outside India for allotment of shares (ii) delay in refund of inward remittance received | The applicant company was incorporated on April 26, 2017 under the provisions of the Companies Act, 2013 (Registration No.U55100TN2017PTC116273) and is engaged in the business of wholesale of food, beverages, tobacco and retail sale of food in specialized stores. | (i) 10,16,39,024 (ii) 10,16,39,024 | 63,261 | |
| 2.192 | Surat Rough Diamond Sourcing (India) Limited | Oct/2019 | ODI | FEMA 120/RB-2004 | Delay in reporting | 6 months | Compounding of contraventions of the provisions of the Foreign Exchange Management Act, 1999 (the FEMA) and the regulations issued thereunder, for delay in submission of Annual Performance Reports (APR) for the years 2012 and 2014 to 2017 | The applicant company was incorporated on November 03, 2010 (CIN U36912GJ2010PLC062808) and is engaged in business of wholesale trade in precious metals, stones and jewellery. The company had invested USD 500,000 towards equity and USD 14,500,000 towards loan in its WOS in UAE in 2011. The applicant company decided to disinvest in April 2018 and the transferred the entire stake to foreign individual for a total consideration of USD 563,380. It was observed that the applicant company had filed APRs with a delay for the years 2012, 2014-2017 in violation of Regulation 15(iii). | 22,915,000 | 50,000 | |
| 2.193 | Talf Solar India Private Limited | Oct/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 years, 1 months and 17 days (ii) in filing Form FC-GPR after iue of hare (iii) iue of hare to peron reident outide India prior to receipt of the amount of conideration | (i) delay in reporting foreign inward remittances received for issue of shares (ii) delay in filing Form FCGPR after issue of shares (iii) issue of shares to person resident outside India prior to receipt of the amount of consideration | The applicant company, incorporated on March 10, 2017, is engaged in the business of Solar Energy Systems (including poly Silicon & Chemical Technology), processing, casting, cell manufacturing, module manufacturing and system installation relating to Solar Energy. | (i) 11,14,88,326.43 (ii) 11,485,900 (iii) 66,670 | 187,700 | |
| 2.194 | Tata Communications Limited | Oct/2019 | Current Account Transactions Rules | Current Account Transactions Rules, 2000 | As per Rule 4 of FEM (CAT) Rules, 2000, no person shall draw foreign exchange for a transaction included in the Schedule II without prior approval from GoI. Further, as per Item No. 6(a) of Schedule II, any remittance towards hiring charges of transponders by TV channels shall require prior approval from GoI. | 14 years and 7 months | Compounding of contraventions of the provisions of the Foreign Exchange Management Act, 1999 (the FEMA) and the regulations issued thereunder, for not obtaining necessary prior approval from the Government of India (GoI) for making payments to overseas entities with respect to transponder hiring charges. | The applicant is engaged in the business of telecommunication, providing up-linking facility to TV channels, operating as a teleport operator, etc. The applicant had hired services of two foreign satellite service providers and had remitted transponder hiring charges by way of multiple remittances to the Satellite Service Providers during the period September 2004 to December 2012, through EEFC and non-EEFC accounts. The payment towards transponder charges by TV Channels/ Internet Services Provider using non-EEFC account amounts to contravention of Rule 4 of FEM (CAT) Rules, 2000, read with Item No. 6(a) of Schedule II of the said Rules. | 1,968,700,133 | 14,815,250 | |
| 2.195 | Tuna Envirotech Private Limited | Oct/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 11 days and 4 months & 25 days. | The contraventions sought to be compounded are those of allotment of shares to the person resident outside India prior to receipt of the amount of consideration | The applicant company, incorporated on September 05, 2018, is engaged in the business of manufacturing, designing, developing, buying, selling, importing & exporting of pollution control equipment and marketing and providing support services for its parent company. | 10,000,000 | 100,000 | |
| 2.196 | M/s Vag Edu Services LLP | Oct/2019 | ODI | FEMA 120/RB-2004 | Regulation 5(1) read with Regulation 13 of FEMA 120/2004-RB dated July 07, 2004 | 5 months | The contravention sought to be compounded pertains to setting up of a step down subsidiary (SDS) in India, without seeking prior approval from Reserve Bank of India. | The applicant is in the business of providing management consultancy and advisory services, including tutoring and related education services to institutions/ organisations and students globally. The applicant acquired 50% stake in overseas Joint Venture (JV) viz. Linc Education Services Pte Ltd. in Singapore by remitting USD 1,85,000 on June 15, 2018. The overseas JV acquired 100% stake of Agamlink Edu System Pvt. Ltd., India (step down subsidiary (SDS) of the applicant) by remitting USD 27,038 on September 30, 2018. As an Indian Party, which has undertaken ODI is not permitted to undertake FDI through its overseas entity/step down subsidiary under automatic route (i.e. without prior approval of the Reserve Bank) | 2,000,000 | 11,042 | |
| 2.197 | Vinod Kumar | Oct/2019 | Section 42-1 of FEMA | Section 42-1 of FEMA, 1999 | contraventions committed by the company where he was a Director | 14 years and 7 months | The compounding is sought for contravention of Section 42-1 of FEMA, 1999 which stipulates that ‘Where a person committing a contravention of any of the provisions of this Act or of any rule, direction or order made thereunder is a company, every person who, at the time the contravention was committed, was in charge of, and was responsible to, the company for the conduct of the business of the company as well as the company, shall be deemed to be guilty of the contravention and shall be liable to be proceeded against and punished accordingly’. | The abovementioned applicant was a Director of an Indian company viz. TCL during the relevant period when the company had hired services of two foreign satellite service providers and had remitted transponder hiring charges by way of multiple remittances to the Satellite Service Providers during the period September 2004 to December 2012, through EEFC and non-EEFC accounts. The payment towards transponder charges by TV Channels/ Internet Services provider using non-EEFC account amounts to contravention of Rule 4 of FEM (CAT) Rules, 2000, read with Item No. 6(a) of Schedule II of the said Rules. As per Rule 4 of FEM (CAT) Rules, 2000, no person shall draw foreign exchange for a transaction included in the Schedule II without prior approval from GoI. Further, as per Item No. 6(a) of Schedule II, any remittance towards hiring charges of transponders by TV channels shall require prior approval from GoI. In the instant case, prior approval from GoI was not obtained. | 1,968,700,133 | 1,481,525 | |
| 2.198 | Yalamanchili Software Exports Limited | Oct/2019 | ODI | FEMA 120/RB-2004 | Delay in reporting | 8.4 years to 11.2 years | (i) delay in receipt of share certificates (ii) delay in filing Form ODI with respect to certain remittances made during 20062008 (iii) delay in submission of Annual Performance Reports (APR) for the years 2007 to 2016 | The applicant company was incorporated on February 16, 2001 (CIN U72200TN2001PLC046643) and is engaged in business of providing IT services. The company had invested in a wholly owned subsidiary (WOS) ‘’Yalamanchili International Pte Ltd.’’, Singapore, in the year 2006. Though the company had reported the investment and received the share certificates, it had inadvertently missed to file the Forms ODI at the time of certain remittances during 2006 – 2008 amounting to SGD 1,66,475/- (equivalent to INR 51,36,862/-). The non-reporting of Form ODI on seven occasions, was noticed only post disinvestment of shares held in WOS in November 2016 and subsequently reported to RBI on August 5, 2017. Further, for five of these remittances, the share certificate was received from the WOS with a delay i.e beyond six months and APRS for the years 2007- 2016 were all submitted with delays. | 5,136,862 | 272,499 | |
| 2.199 | M/s. A & M Resources Private Limited | Oct/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 days to 5 months 29 days (ii) 19 days to 1 years 2 months 9 days | (i) delay in submission of form FCGPR to the Regional Office of the Reserve Bank after issue of shares to a person resident outside India (ii) delay in filing of the annual return in respect of the Foreign Liabilities and Assets | The applicant is a resident company incorporated as Private Limited Company under the Companies Act, 1956 on December 2, 2010 (CIN: U13203TG2010PTC071499). The company is engaged in the business of “Contract Mining, Exploration and related activities” | 768,29,350 | 123,625 | |
| 2.200 | M/s. Felguera Gruas India Private Limited | Oct/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 12 days to 2 years 4 months 25 days (ii) 1 days to 2 years 4 months 24 days | (i) delay in reporting foreign inward remittances received for issue of shares (ii) delay in filing Form FCGPR after issue of shares | The company is engaged in the business of “Construction and maintenance of industrial facilities such as refineries, chemical plants etc” | (i) 59,85,78,300 (ii) 113,78,94,000 | 474,322 | |
| 2.201 | Mr. Richard V. Pivirotto | Oct/2019 | Acquisition and Transfer of Immovable Property | FEMA 21/2000-RB | Regulation 8 of Notification No. FEMA-21/2000-RB dated May 03, 2000 states that save as otherwise provided in the Act or Regulations, no person resident outside India shall transfer any immovable property in India | 14 years 04 months 12 days | Acquisition of immovable property in India without obtaining prior permission of the Reserve Bank of India | Mr. Richard V. Pivirotto, US National, has been granted permission to acquire immovable property viz Flat No. 3, “Madura” S.No. 80/IE & 80IF Plot No. 9, Manapakkam Road, Manapakkam, Chennai 600016 vide RBI letter bearing No. CO.FID(III)/ 952/10.03.04/P-1713/99-2000 dated December 2, 1999. However, Mr. Richard V. Pivirotto in joint name with his wife Mrs. Jill Roberts has also acquired the undivided share of land for a consideration of ₹ 1,02,000/- (Rupees One lakh two thousand only). The property was purchased for the total amount of ₹ 1,02,000/- (Rupees One Lakh two thousand only)and the value of the property at the time of transfer was ₹ 12,64,290/- (Rupees Twelve lakh sixty four thousand two hundred ninety only). As the applicant was co-owner of the immovable property under reference, 50% of the purchase price of the Immovable Propery under reference i.e. ₹51,000/- (Rupees Fifty one thousand only) has been considered as the amount of contravention. | 51,000 | 73,244 | |
| 2.202 | M/s ETF Gurgaon Project office (MG-SE-17) | Oct/2019 | Establishment of BO/LO/PO in India | FEMA.22(R)/RB-2016 | Regulation 4(k) of Notification No.FEMA.22(R)/RB-2016 dated March 31, 2016 as amended from time to time states that a person resident outside India permitted under these Regulations to establish a branch office or liaison office or project office may apply to the concerned Authorised Dealer Category-I bank for transfer of its assets to a Joint Venture / Wholly Owned Subsidiary or any other entity in India. Authorised Dealer Category-I bank shall be guided by the instructions laid down by Reserve Bank in this regard. | 2 years 9 months and 9 days | The contraventions sought to be compounded relate to inter project transfer of funds and transfer of project assets from one project to another, | The applicant, M/s ETF, a company incorporated and registered under the laws of France specializes in construction and maintenance of railway networks, urban transport networks and industrial siblings. It is involved in the development of railway infrastructure, high speed lines, concrete slab tracks, metal and rubber wheeled tramway systems, etc. Regulation 4(l) of Notification No.FEMA.22(R)/RB-2016 dated March 31, 2016 states that the branch office / liaison office may submit the Annual Activity Certificate (Annex D) as at the end of March 31 along with the audited financial statements including receipt and payment account on or before September 30 of that year. In case the annual accounts of the office are finalized with reference to a date other than March 31, the AAC along with the audited financial statements may be submitted within six months from the due date of the Balance Sheets to the Authorised Dealer Category-bank and the Director General of Income Tax (International Taxation), Drum Shape Building, I.P. Estate, New Delhi 110002. AAC from a Chartered Accountant showing the project status and certifying that the accounts of the project office have been audited and the activities undertaken are in conformity with the general / specific permission given by the Reserve Bank may be submitted by the project office to the designated Authorised Dealer Category-I bank. | 56,699,732 | 256,799 | |
| 2.203 | M/s Souriau India Pvt. Ltd. | Oct/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) minimum 0Y 0M 14D to maximum 0Y 2M 7D (ii) minimum 0Y 6M 12D to maximum 12Y 5M 15D | (i) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the inward remittance (ii) Delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | Its main activities are Design, Manufacture, Marketing of Electric, Electronic, Optic, Optoelectronic Connectors for components or devices for optical and electromagnetic coupling for electronic and electro-optical subassemblies. | (i) 1,17,23,827/- (ii) 17,28,46,000/- | 766,964 | |
| 2.204 | M/s Imperial Spirits Ltd. | Oct/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 3Y 3M 19D approximately | Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the inward remittance | The Company is engaged in Distilling, rectifying and blending of spirits | 80,000,000 | 480,000 | |
| 2.205 | Mrs Jill Roberts | Oct/2019 | Acquisition and Transfer of Immovable Property | FEMA 21/2000-RB | Regulation 8 of Notification No. FEMA-21/2000-RB ibid. states that save as otherwise provided in the Act or Regulations, no person resident outside India shall transfer any immovable property in India, provided that the Reserve Bank may, for sufficient reasons, permit the transfer, subject to such conditions as may be considered necessary. | 14 years 04 months 12 days | The contravention sought to be compounded relate to acquisition of immovable property in India by a foreign national of non – Indian origin and resident outside India, without RBI permission | Mr Richard Piviroto has been granted permission to acquire immovable property under reference vide RBI letter bearing No. CO.FID(III)/ 952/10.03.04/P-1713/99-2000 dated December 2, 1999. However, Mr Richard Piviroto acquired the property in joint name with his wife Mrs. Jill Roberts, the applicant. Mrs. Jill Roberts, being a foreign national not resident in India has acquired the residential flat in Chennai in the year 2004 without obtaining prior permission from the Reserve Bank of India. | 448,350 | 722,588 | |
| 2.206 | ACME Cleantech Solutions Private Limited | Nov/2019 | ODI | FEMA 120/RB-2004 | Delay in reporting | 1 months to 10 years | delay in submission of Annual Performance Reports (APRs) | The company had made an overseas direct investment (ODI) in March 2006 in its wholly owned subsidiary (WOS), ‘’ACME Labs’’ in Cayman Island amounting to Rs 2,05,06,080/-. The company had disinvested from the WOS in September 2007. However, the APRs for the years 2006 and 2007 were submitted with a delay in January 2008 and January 2019 respectively. | 205,061 | 20,000 | |
| 2.207 | ACS Logistics Private Limited | Nov/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 2 months and 15 days | issue of shares to person resident outside India prior to receipt of inward remittance | The applicant had issued 9,999 equity shares on December 20, 2018 to the subscriber to its Memorandum of Association, M/s GIGG Group INC., Canada. The consideration for the said shares amounting to ₹99,990/- was received on March 7, 2019, 2 months and 15 days after the date of issue of shares | 99,990 | 2,500 | |
| 2.208 | M/s. Allegro Speciality Chemicals Private Limited | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 days to 1 years 11 months 9 days (ii) 1 years 9 months 19 days to 2 years 5 months 4 days (iii) 4 days to 2 months 22 days (iv) 5 months 24 days to 1 years 5 months 24 days | (i) delay in reporting of receipt of foreign inward remittances towards subscription of equity, (ii) delay in submission of form FCGPR to the Reserve Bank after issue of shares to a person resident outside India, (iii) delay in allotment of shares to the foreign investor beyond 180 days from the date of receipt of remittance, (iv) delay in filing the Annual Return in respect of the Foreign Liabilities and Assets (FLA Return) | The company is engaged in the business of “Manufacture of medicinal substances used in the manufacture of pharmaceuticals. The applicant had received inward remittances from the foreign investors of Rs. 3,17,33,593 | (i) 123,42,394 (ii) 296,14,480 | 232,716 | |
| 2.209 | M/s. Ambari Cloud Solutions Private Limited | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) of 4 months 18 days (ii) 1 years 2 months 1 days to 3 years 2 months 1 days | (i) delay in submission of form FCGPR to Reserve Bank of India after issue of shares towards subscription to equity (ii) delay in filing of Annual Return on Foreign Liabilities | The applicant received foreign inward remittance on 28.08.2015 and reported the same on 24.09.2015. However there was a delay in filing FC-GPR beyond 30 days. FLA returns for the financial years 2015-16 to 2017-18 with delays ranging from 1 year 2 months 1 day to 3 years 2 months 1 day | 26,06,000 | 41,050 | |
| 2.210 | Shri Ashok Choudhary (Proprietor M/s Coropex) | Nov/2019 | Export of Goods and Services | FEMA 23/2000-RB | contravention of Regulation 16 (1) of Foreign Exchange Management (Exports of Goods and Services) Regulations, 2000 | 2 years 7 months (.) for 1t intallment and 2 years and 5 months (.) for 2nd intallment | Inability in exporting within one year of receipt of advance against export order | The company had sent sample of goods to overseas buyer AIH General Merchandise, Nigeria and received export advance of Euro 16154.52 (Rs.11,93,382/-) on October 15, 2015. While goods were ready to dispatch, company received 2nd remittance of Euro 16154.52 (Rs.11,76,097/-) on December 10, 2015. However, the export could not be made as overseas importer was unable to submit mandatory Form M for importing goods into Nigeria to the applicant and thereafter the buyer demanded refund of advance. The applicant claimed inability to refund the advance payment as the same was utilized in manufacturing the goods on order. As the goods were specifically designed for the overseas buyer it has only scrap value for the exporter and thus could not be returned. Thus the applicant was unable to export goods within the prescribed period of one year from the date of receipt of advance against export order. | 2,369,479 | 64,217 | |
| 2.211 | M/s Asian Oilfield Services Ltd | Nov/2019 | FDI | FEMA 23/2000-RB | Delay in reporting | (i) 0Y 0M 4D (ii) 0Y 0M 4D to 0Y 0M 6D | (i) delay in reporting of receipt of foreign inward remittances towards subscription of equity (ii) delay in submission of form FCGPR to the Reserve Bank after issue of shares to a person resident outside India. | The applicant received foreign inward remittances from non-resident investors towards equity shares/compulsorily convertible preference shares/compulsorily convertible debentures and issued the same. It reported the same to the Reserve Bank beyond 30 days. | (i) 49,12,50,000 (ii) 67,12,50,000 | 61,667 | |
| 2.212 | M/s Athena Drug Delivery Solutions Private Limited | Nov/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | (i) 0Y 4M 20 D (ii) 1Y 4M 8D | (i) Delay in filing Form FCGPR (ii) Failure to obtain specific and prior Government approval for issue of shares to person resident outside India in certain prescribed cases. | TheapplicantfiledformFC-GPRsasindicatedabove,outofwhich1formFCGPRwasreportedwitha delay The applicant company issued shares to Non-Resident Investor/s towards Foreign Direct Investment without obtaining prior approval of the Government of India. | (i) 438,76,080 (ii) 377,55,000 | 288,486 | |
| 2.213 | Azoy Bansal | Nov/2019 | Section 42-1 of FEMA | Section 42-1 of FEMA, 1999 | Offficer deemed guilty of contravention of FEMA provision | 11 months to 4.6 years | ‘Where a person committing a contravention of any of the provisions of this Act or of any rule, direction or order made thereunder is a company, every person who, at the time the contravention was committed, was in charge of, and was responsible to, the company for the conduct of the business of the company as well as the company, shall be deemed to be guilty of the contravention and shall be liable to be proceeded against and punished accordingly’ | The Applicant was a Director of an Indian company viz. H F Metal Art Private Limited during the relevant period, when the company had received certain export advances during January 2008 to July 2011 amounting to Rs 6,30,79,984/-, but was unable to make exports within the prescribed time limit. However, the company has adjusted the export advances against exports made during August 2013 to June 2014 and as on date no advances are outstanding. The failure to export goods within one year from the date of receipt of advance payment resulted in contravention of Regulation 16 of FEMA 23. Also, the company could not realize export proceeds against certain exports amounting to Rs 10,58,50,346/-, within the prescribed time period (nine months) during 2014-2018. This was a contravention of Regulation 9 of FEMA 23 (for transactions up to January 11, 2016 and Regulation 9 of FEMA 23R, (for transactions post January 11, 2016). | 168,930,330 | 103,300 | |
| 2.214 | Bharat Bhushan Madaan | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 years, 6 months and 16 days | delay in reporting the transfer of shares in Form FCTRS | The applicant, a resident individual, had transferred 5,000 equity shares of M/s Axon Smartcare India Private Limited, a resident company engaged in other information technology and computer service activities n.e.c, to M/s Axon Smarthealth Pte. Ltd., Singapore, a non-resident company, on March 28, 2017 for a consideration of ₹50,000/- (Rupees Fifty Thousand only) received on July 6, 2017. | 50,000 | 11,580 | |
| 2.215 | Bharat Kapoor | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 3 years, 7 months and 7 days | delay in reporting the transfer of shares in Form FCTRS | The applicant, a resident individual, had transferred 9,999 equity shares of M/s Digital IP Insights Private Limited, a resident company engaged in the business of intellectual property protection and enforcement of intellectual property rights, to M/s Strategic IP Information Pte. Ltd., Singapore, a non-resident company, on July 7, 2015 for a consideration of ₹99,990/- (Rupees Ninety Nine Thousand Nine Hundred and Ninety only) received on July 17, 2015. | 99,990 | 13,670 | |
| 2.216 | C K Unicom LLP | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 years, 3 months and 16 days | delay in reporting the receipt of remittance in Form Foreign Direct Investment –LLP (I), | The applicant had received foreign inward remittance of ₹12,97,144.00 as capital contribution from Mr. Chan Kai, Hong Kong on September 28, 2017 and reported the same in Form LLP(I) on February 13, 2019 through FIRMS portal | 1,297,144 | 13,325 | |
| 2.217 | CAPITAWORLD GLOBAL PRIVATE LIMITED | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 5 days (ii) 218 to 253 days (iii) 47 to 67 days | (i) delay in reporting of receipt of foreign inward remittances towards subscription of equity, (ii) delay in submission of form FCGPR to the Reserve Bank after issue of shares to a person resident outside India, (iii) delay in refund of share application money | The applicant has received three foreign inward remittances amounting to ₹1,96,29,780/- under the automatic route from two investors resident outside India viz., (i) Shri Bellur Subbanna Laxminarayan, UAE; and (ii) Shri Ashish Shukla Ranchhod, Hong Kong. The applicant has issued 784 Compulsorily Convertible Preference shares (CCPS) amounting to ₹1,96,00,000/- to the said investors. The applicant refunded excess share application money amounting to ₹29,779/- and the remaining amount of ₹1/-, being insignificant, was ignored. | (i) 95,19,876 (ii) 145,00,000 (iii) 29,779 | 31,666 | |
| 2.218 | M/s. CGWW Cargo Worldwide India Pvt Ltd. | Nov/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 3 days to 2 months 29 days | The contravention sought to be compounded is delay in allotment of shares | The applicant company was incorporated on October 29, 2018 under the provisions of the Companies Act, 2013 and is engaged in the activities of shipping cargo. | 12,350,138 | 111,751 | |
| 2.219 | Clearmedi Healthcare Private Limited | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 months and 11 days to 1 years, 6 months and 6 days (ii) 2 days to 2 years, 1 months and 25 days | (i) delay in reporting foreign inward remittances received for issue of shares (ii) delay in filing Form FCGPR after issue of shares | The applicant company, incorporated on October 8, 2010, is engaged in other human health activities n.e.c. (including independent ambulance activities). | (i) 14,59,56,94,882 (ii) 25,19,37,015 | 399,480 | |
| 2.220 | Delval Flow Controls Private Limited | Nov/2019 | ODI | FEMA 120/RB-2004 | Delay in reporting | (i) more than 5 years (ii) June 30, 2012 and June 30, 2013 (iii) March 19, 2013 till september 19, 2019 | (i) Nonrepatriation of loan and interest due before undertaking the disinvestment by the IP (ii) delay in submission of Annual Performance Reports (APR) for the years 2011 and 2012 and nonsubmission of APR for the truncated period from January 1, 2013 to March 19, 2013 | The applicant company is engaged in the business of manufacturing, buying and selling of flow control products, valves and valve automation, etc. The applicant invested USD 3,000 in an overseas JV viz., Deltech Controls Rus L.L.C in Russia on October 14, 2010. The applicant also remitted USD 18,000 and USD 23,546 on October 14, 2010 and April 26, 2011 respectively towards loan. The applicant did not receive back the amount it lent and the interest due thereon from the overseas JV, which is in contravention of Regulation 15(ii) of Notification No. FEMA 120/ 2000-RB dated July 07, 2004. Further, the applicant submitted APRs for the years 2011 and 2012 with delay on April 15, 2014, thereby contravening Regulation 15(iii) of Notification No. FEMA 120/ 2000-RB dated July 07, 2004. The Board of the applicant company decided to exit from the overseas JV due to losses and the commercial operations of the JV stopped operations in December 2012. The overseas entity was closed on March 19, 2013. The applicant disinvested from the overseas entity and at the time of disinvestment loan and interest accrued thereon were outstanding, resulting in a contravention of Regulation 16(1)(iv) of Notification No. FEMA 120/ 2000-RB dated July 07, 2004. | (i) 19,61,000 (ii) 2,23,945 | 146,388 | |
| 2.221 | DH Lighting India Private Limited | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 17 days to 3 months and 16 days. (ii) 11 days to 10 months and 21 days. (iii) 1 months to 3 months. | (i) delay in reporting of receipt of foreign inward remittances towards subscription of equity, (ii) delay in submission of form FCGPR to the Reserve Bank after issue of shares to a person resident outside India, (iii) delay in refund of share application money | The applicant company, incorporated on September 03, 2015, is engaged in the business of manufacture of electric lighting equipment. | (i) 362,80,744 (ii) 360,00,000 (iii) 114,055 | 147,349 | |
| 2.222 | DRA Mineral Services LLP | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 54 days | The contravention sought to be compounded is delay beyond 30 days in submitting a report in form Foreign Direct Investment (FDI) – LLP (I) from the date of receipt of amount of consideration to the Reserve Bank, through Authorised Dealer bank (AD bank) towards capital contribution in the Limited Liability Partnership (LLP) | The applicant was incorporated on July 29, 2016 under the provisions of the Limited Liability Partnership Act, 2008 (LLP Identification Number: AAH-0466). The applicant has received one foreign inward remittance amounting to ₹7,27,272/- under the automatic route from “a person resident outside India viz. DRA Africa Holdings (PTY) Ltd., South Africa as consideration towards capital contribution in the LLP on behalf of Minoplex International, Mauritius (Subsidiary of DRA Africa Holdings). | 727,272 | 10,170 | |
| 2.223 | Essar Steel India Ltd | Nov/2019 | ODI | FEMA 120/RB-2004 | Delay in reporting | 7 years 5 months to 9 years and 1 months | (i) effecting remittance without prior approval when the Indian Party (IP) was under investigation. (ii) Delayed submission of APRs (iii) Disinvestment without obtaining valuation. | The applicant Company set up a wholly Owned Subsidiary (WOS) Essar Steel Overseas Ltd in Mauritius by remitting USD 1 (INR 47) on August 07, 2010. Since the applicant company was under investigation by the Directorate of Intelligence (DRI) at the time of effecting the remittance, it was not eligible to make ODI under automatic route and hence the investment was in contravention of Regulation 6(2) (iii) of Notification No. FEMA 120/RB-2004 dated July 07, 2004. The WOS was later liquidated on March 09, 2012 and no valuation was done as required under Regulation 16(1)(iii) of Notification No. FEMA.120/ RB-2004 dated July 07, 2004 and hence a contravention of the Regulation ibid. The transactions were taken on record on August 14, 2019. Further, the applicant had reported Annual Performance Reports (APRs) for the accounting years 2011 and 2012 with a delay on June 15, 2013 and December 17, 2013 | 47 | 83 | |
| 2.224 | Finxera India Pvt Ltd | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 81 days (ii) 9 days to 86 days | (i) delay in reporting foreign inward remittances received for issue of shares (ii) delay in filing Form FCGPR after issue of shares | The applicant is engaged in activities of data processing, software development and computer consultancy services. | (i) 52,252.30 (ii) 95,61,660 | 12,152 | |
| 2.225 | M/s Forum Business Research Private Limited | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 5 years 1 months 8 days to 6years 1 months 13 days (ii) 6 years 2 months 19 days to 7 years 3 months 12 days (iii) months 2 days to 7 years 3 months 18 days . | (i) delay in reporting foreign inward remittances received for issue of shares (ii) delay in filing Form FCGPR after issue of shares (iii) delay in filing of FLA returns | The company is engaged in “Computer programming, consultancy and related activities”. | (i) 35,95,800 (ii) 35,97,900 | 177,959 | |
| 2.226 | M/s Fryda Technologies Private Limited | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 0Y 2M 9D | Neither the equity instruments were issued, nor the money refunded to the foreign investor within 60days/75days (as applicable) from the receipt of the inward remittance | The company is engaged in Educational support services | 3,000,000 | 65,000 | |
| 2.227 | M/s Goa Brewcrafts Pvt Ltd | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y 0M 2D to 0Y 5M 12D (ii) 0Y 1M 14D to 1Y 2M 11D . | (i) delay in reporting foreign inward remittances received for issue of shares (ii) delay in filing Form FCGPR after issue of shares | The company is engaged in Beer made from Malt | (i) 424,88,000 (ii) 424,92,000 | 48,917 | |
| 2.228 | H F Metal Art Private Limited | Nov/2019 | Export of Goods and Services | FEMA 23/2000-RB | Delay in reporting | (i) 11 months to 4.6 years (ii) 1 days to 7 months | (i) failure to export the goods within a period of one year from the date of receipt of advance (ii) failure to realize export proceeds within stipulated time period | Company is engaged in the business of minting and supply of precious metal coins and bars, as well as high quality medals, gifts and promotional items in non-precious metals. The company received certain export advances during January 2008 to July 2011 amounting to Rs 6,30,79,984/-, but was unable to make exports within the prescribed time limit. However, the company has adjusted the export advances against exports made during the period from August 2013 to June 2014 and as on date no advances are outstanding. The failure to export goods within one year from the date of receipt of advance payment resulted in contravention of Regulation 16 of FEMA 23. Also, the company could not realize export proceeds against certain exports amounting to Rs 10,58,50,346/-, within the prescribed time period during 2014-2018. This was a contravention of Regulation 9 of FEMA 23 (for transactions upto January 11, 2016 and Regulation 9 of FEMA 23R, (for transactions post January 11, 2016). | (i) 16,89,30,330 (ii) 10,58,50,346 | 1,032,998 | |
| 2.229 | M/s. Heritage Novandie Foods Private Limited | Nov/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 2 months to 2 months 27 days | The contravention sought to be compounded is delay in receipt of share application money from the person resident outside India after allotment of shares | The company is engaged in the business of “Manufacture of other dairy products n.e.c.” | 51,180 | 50,256 | |
| 2.230 | M/s Hindustan Ports Pvt Ltd | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y 0M 2D to 0Y 0M 5D (ii) 0Y0M18D to 0Y3M16D . | (i) delay in reporting foreign inward remittances received for issue of shares (ii) delay in filing Form FCGPR after issue of shares | Activities of Holding Company | (i) 50,00,000 (ii) 50,00,000 | 23,167 | |
| 2.231 | Hong Guang De Technology India Private Limited | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 years, 11 months and 4 days | The contravention sought to be compounded is of delay in filing Form FCGPR after issue of shares | The applicant company, incorporated on October 20, 2015, is engaged in the business of manufacturing, import, export and distribution of all types of technology products including mobile phones, mobile phones accessories, mobile chargers, machineries, electrical items, LCD television, tablets, home theatres, LED television. | 5,828,064 | 24,000 | |
| 2.232 | M/s. ICX4 Software Services India Pvt Ltd. | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 years 7 months 5 days (ii) 2 years 4 months 12 days (iii) 8 months 19 days | (i) delay in submission of Form FCGPR to Reserve Bank on allotment of shares (ii) delay in receipt of consideration (iii) delay in refund of receipt of consideration | The applicant company is engaged in business of writing, modifying, testing of computer program to meet the needs of a particular client excluding web-page designing. | (i) 980,000 (ii) 980,000 (iii) 51,205 | 50,277 | |
| 2.233 | Karan Batra | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 years, 6 months and 4 days | The contravention sought to be compounded is of delay in reporting the transfer of shares in Form FCTRS beyond the stipulated period | The applicant, a resident individual, had transferred 5,000 equity shares of M/s Axon Smartcare India Private Limited, a resident company engaged in other information technology and computer service activities n.e.c, to M/s Axon Smarthealth Pte. Ltd., Singapore, a non-resident company, on March 28, 2017 for a consideration of ₹50,000/- (Rupees Fifty Thousand only) received on July 6, 2017. | 50,000 | 11,580 | |
| 2.234 | M/s. Kondrakunta Industries Private Limited | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 months 5 days (ii) 2014-15 to 2018-19 with 1 months 13 days to 4 years 1 months 29 days | (i) Delay in submission of form FCGPR to the Reserve Bank after issue of shares to a person resident outside India (ii) Delay in filing of Annual return on Foreign Liabilities and Assets | The company is engaged in the business of “Construction of Civil Engineering Projects”. | 6,023,050 | 61,169 | |
| 2.235 | LAVIOSA INDIA PRIVATE LIMITED | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 174 days (ii) 397 days (iii) 65 days | (i) delay beyond 30 days in submitting report in Advance Reporting Form (ARF) to the Reserve Bank, through Authorised Dealer bank (AD bank) after receipt of foreign inward remittance towards subscription to equity (ii) delay beyond 30 days in submitting report in FormForeign CurrencyGross Provisional Return (FCGPR) to the Reserve Bank, through AD bank, after the date of issue of shares to “persons resident outside India” (iii) delay in issue of share beyond stipulated period of 180 days from the date of receipt of the inward remittance | The applicant has received foreign inward remittances from the investor “resident outside India”, viz., Laviosa Chimica Mineraria S.P.A, Italy towards equity shares during the years 2009 to 2017. | (i) 499,95,000 (ii) 499,95,000 (iii) 21,50,400 | 149,065 | |
| 2.236 | Lephone Technology Private Limited | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 4 months and 29 days to 1 years, 9 months and 8 days (ii) 5 months and 13 days to 1 years, 10 months and 12 days. (iii) 7 months and 26 days to 2 years, 1 months and 21 days. (iv) 7 years, 2 months & 17 days and 7 years, 2 months & 18 days | (i) delay in reporting foreign inward remittances received for issue of shares (ii) delay in filing Form FCGPR after issue of shares (iii) delay in refund of excess share application money (iv) taking on record in its books by the applicant company, the transfer of shares by residents to nonresident without obtaining certified Form FCTRS from the AD bank | The applicant company, incorporated on May 23, 2011, is engaged in the business of wholesale of telephonic mobile phone and communication equipment and parts. | (i) 20,78,16,960.10 (ii) 20,78,12,202 (iii) 4758.10 (iv) 109,400 | 978,774 | |
| 2.237 | Maheshwari Foods and Hospitality Pvt Ltd | Nov/2019 | ODI | FEMA 120/RB-2004 | Delay in reporting | (i) 3 years (ii) 2015 and 2016 | (i) The contraventions sought to be compounded are nonreceipt of share certificate or other evidence of investment (ii) delayed submission of Annual Performance Reports (APRs) (iii) undertaking disinvestment with writeoff without obtaining valuation of the overseas company. | The applicant company is engaged in the restaurant business. The applicant made an investment of USD 100,000 (equivalent to INR 65,38,551) in two tranches on July 10 and August 20 of 2015 for acquisition of 50% stake in overseas JV viz., Hetal Inc in USA. The overseas JV was not able to arrange visas for Indian staff and the project had to be abandoned though many expenses had already been incurred. The applicant received a refund of USD 50,000 of its application money in January 2016, Remaining USD 50,000 was not received by the applicant, it being part of the share of losses incurred e.g committed rent, legal expenses etc. The overseas JV was wound up in April 2017, with the Certificate of Termination being dated April 24, 2017. Share Certificate for USD 510 only was produced by the applicant with delay on March 24, 2017 and the remaining USD 49,490 was retained as share application money till it was written off. This constituted contravention of Regulation 15(i) of the Notification No. FEMA 120-RB, 2004. Annual Performance Reports (APRs) for the years 2015 and 2016 were filed beyond due date in contravention of Regulation 15(iii) ibid. Non-submission of valuation certificate on reporting disinvestment of USD 50,000 with full write off was contravention Regulation 16(1)(iii) ibid. | 3,269,275 | 132,148 | |
| 2.238 | M/s. Mapmygenome India Limited | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 19 days to 1 months 9 days (ii) 2 months 4 days (iii) 1 years 3 months to 4 years 3 months | (i) delay in reporting of receipt of foreign inward remittances towards subscription of equity (ii) delay in submission of form FCGPR to the Reserve Bank after issue of shares to a person resident outside India (iii) delay in filing the Annual Return in respect of the Foreign Liabilities and Assets (FLA Return) | The company is engaged in the “Activities of independent diagnostic/pathological laboratories”. | (i) 92,52,196.95 (ii) 92,52,000 | 62,749 | |
| 2.239 | Masibus Automation and Instrumentation Pvt. Ltd. | Nov/2019 | ODI | FEMA 120/RB-2004 | Delay in reporting | (i) 5 years (ii) July 4, 2008 (date of remittance) to January 11, 2018 (iii) July 4, 2008 (date of remittance) to May 13, 2019 (iv) July 4, 2008 (date of remittance) to september 8, 2014 (v) July 1, 2010, July 1, 2011, July 1, 2012 (due date) repectively to January 12, 2018 (date of ubmiion of APR to the AD bank) and for July 1, 2013 (due date) to september 21, 2018 (date of ubmiion of APR to the AD bank) (vi) April 11, 2012 to May 13, 2019 (vii) April 11, 2012 to May 13, 2019 (viii) April 11, 2012 to May 13, 2019 | (i) Regulation 6(2)(iv)for having sent seven subsequent remittances without submitting Annual Performance Report (APR) (ii) Regulation 6(2)(vi) delay in submission of duly completed Part I of the Form ODI, as prescribed by the Reserve Bank from time to time, to the designated branch of an authorized dealer (iii) Regulation 6(3) overseas investment undertaken by way of method of funding not prescribed (iv) Regulation 15(i) delayed receipt of proof of investment (v) Regulation15(iii)delayed submission of APRs for the years ending 2009 to 2012 (vi) Regulation 16(1)(iii) disinvestment from the overseas entity without obtaining fair valuation certificate (vii) Regulation 16(1)(iv) disinvestment undertaken from the overseas entity when it had outstanding loans (viii) Regulation 16(3) disinvestment without prior approval of the Reserve Bank when not eligible under automatic route, | The applicant company is engaged in business of manufacturing of electrical equipment, wiring devices, fittings, etc. The applicant remitted SGD 990 on July 4, 2008 towards 99% stake in the overseas JV viz., Masibus Automation and Instrumentation (Singapore) Pte Ltd. in Singapore. The applicant undertook ODI of SGD 5,000 on July 4, 2008 by way of payment by the director of the applicant company in cash, during his visit abroad, the same is not a prescribed method of funding thereby contravening Regulation 6(3) of Notification No.FEMA 120/2004-RB. The applicant had sent seven remittances aggregating SGD 52,000 during 2010-11 without submitting APR, thereby contravening Regulation 6(2)(iv) of Notification No.FEMA 120/2004-RB. The applicant submitted Form ODI Part 1 for remittance of SGD 5,000 sent on July 4, 2008 with delay on January 11, 2018, thereby contravening Regulation 6(2)(vi) of Notification No. FEMA 120/2004-RB. The applicant received share certificate for the aforesaid remittance of SGD 990 with delay (beyond prescribed period of 6 months under FEMA 120) on September 8, 2014, thereby contravening Regulation 15(i) of Notification No.FEMA 120/2004-RB. The applicant submitted APRs for the years ending 2009 to 2012 with delay on January 12, 2018 and for year ending 2013 on September 21, 2018, thereby contravening Regulation 15(iii) of Notification No.FEMA 120/2004-RB. Disinvestment from the overseas entity was undertaken on April 11, 2012 without obtaining fair valuation certificate, thereby contravening Regulation 16(1)(iii) of Notification No. FEMA 120/2004-RB. The applicant had undertaken disinvestment when it had outstanding loans, thereby contravening Regulation 16(1)(iv) of Notification No. FEMA 120/2004-RB. Further, the applicant was not eligible to undertake the disinvestment under automatic route and should have sought prior approval of Reserve Bank, the same is in contravention of Regulation 16(3) of Notification No. FEMA 120/2004-RB. | (i) 18,46,500 (ii) 160,600 (iii) 160,600 (iv) 31,799 (vi) 31,799 (vii) 23,56,703 (viii) 23,91,521 | 361,126 | |
| 2.240 | M/s Millenium Aero Dynamics Pvt. Ltd. | Nov/2019 | ODI | FEMA 120/RB-2004 | Delay in reporting | 9 years | (i) Nonsubmission of documentary evidence of investment within the stipulated time period (ii) Nonsubmission of APRs for the years 2012 to 2017 (iii) Disinvestment with write off without arriving at the fair value. | The applicant remitted USD 33,500/- on November 22, 2010 towards 50% stake in the overseas JV viz. IIAAT Millennium Holding Company in Russia. While the applicant submitted an alternate proof of investment (in lieu of share certificates), for the investment of USD 2,728.56 on August 25, 2014 (with delay), no proof of investment /share certificate was submitted by the applicant for the balance amount of USD 30, 771.44, thereby contravening Regulation 15(i) of Notification No. FEMA 120 dated July 07, 2004. Further, APRs for the years ending 2012 to 2017 were not reported by the applicant, thereby contravening Regulation 15(iii) of Notification No. FEMA 120 dated July 07, 2004. Due to non-co-operation extended by the overseas JV partner, the applicant decided to write-off their investment in the overseas JV and the same was done without obtaining fair valuation certificate, thereby contravening Regulation 16(1)(iii) of Notification No. FEMA 120 dated July 07, 2004. The administrative action for the contravention is complete. | 1,532,123 | 209,193 | |
| 2.241 | M/s Minematics Solutions Private Limited | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 5 months 22 days | The contravention sought to be compounded is delay in allotment of shares to the nonresident investor | The company is engaged in ‘Other information technology and computer service activities n.e.c’ | 2,003,170 | 60,016 | |
| 2.242 | Miniso Life Style Private Limited | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 19 days | The contravention sought to be compounded is of delay in reporting foreign inward remittance received for issue of shares | The applicant company, incorporated on June 22, 2017, is engaged in the business of wholesale of textiles, fabrics, yarn, household linen, articles of clothing, floor coverings and tapestry, sports clothes. | 97,832,844 | 14,000 | |
| 2.243 | Momenta Learning Solutions Private Limited | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 months and 22 days (ii) 1 years, 11 months and 6 days (iii) 1 years & 17 days and 1 years, 8 months & 16 days. | (i) delay in reporting foreign inward remittances received for issue of shares (ii) delay in filing Form FCGPR after issue of shares (iii) issue of shares to person resident outside India prior to receipt of the amount of consideration | The applicant company, incorporated on September 23, 2016, is engaged in providing other business support service activities n.e.c. | (i) 23,59,500 (ii) 25,00,000 (iii) 25,00,000 | 5,589 | |
| 2.244 | Moody’s Analytics (India) Private Limited | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 2 months and 19 days. | The contravention sought to be compounded is of issue of shares to person resident outside India prior to receipt of inward remittance | The applicant company, incorporated on October 8, 2018, is engaged in data processing activities including report writing. | 10,000 | 250 | |
| 2.245 | M/s Acuta Infotech Private Limited | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 26 days to 1 years 1 months and 8een days (ii) 7 months and 25 days. | (i) delay in reporting foreign inward remittances received for issue of shares (ii) delay in filing Form FCGPR after issue of shares | The company is engaged in the business of providing computer software and information technology related services to its clients. | (i) 42,20,927 (ii) 28,75,870 | 28,130 | |
| 2.246 | GOH ESTATE PRIVATE LIMITED | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 100 days | The contravention sought to be compounded for allotment of shares prior to the receipt of inflow to a person resident outside India | The applicant, GOH ESTATE PRIVATE LIMITED was incorporated on January 02, 2019 and is in the business of Management consultancy activities | 49,500 | 1,650 | |
| 2.247 | M/s Peter & Friends Classic Adventures Private Limited | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 days to more than 22 years. (ii) 1 months 14 days to 5 years 2 months 29 days (iii) 17 years | (i) delay in reporting receipt of funds for issue of shares, beyond the stipulated time period (ii) delay in filing of form FCGPR beyond the stipulated time period (iii) delay in allotment of shares after the receipt of inward remittance | The applicant is a company registered as a private limited company, incorporated on January 31, 1994 under the Companies Act, 1956 (CIN:U63040GA1994PTC001517) with the main object of undertaking the business of tours and travels and renting of bikes (NIC code: 55101). | (i) 39,71,145 (ii) 26,73,030 (iii) 14,21,310 | 139,735 | |
| 2.248 | M/s DTDS Smart-Core Private Limited | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 3 months and 4 days. | The contravention sought to be compounded is allotment of shares to persons resident outside India, prior to receipt of amount of consideration | The activity undertaken by the company is wholesale of electronic valves and tubes, semiconductor devices, microchips, integrated circuits and printed circuits. | 99,990 | 2,630 | |
| 2.249 | M/s Expleo Technologies India Private Limited | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 years 7 months and 11 days (ii) 3 years 5 months and 3 days to 3 years 7 months and 4 days days (iii) 2 years 2 months and 11 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) refund of excess share application money beyond 180 days from the date of receipt of inward remittance (iii) delay in submission of form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India | The applicant, M/s Expleo Technologies India Private Limited, was originally incorporated as M/s Silver Atena Electronic Systems (India) Private Limited, on June 25, 2008, under the Companies Act, 1956, as per the Certificate of Incorporation issued by the Assistant Registrar of Companies, Karnataka. Subsequently, the name of the company has been changed as M/s Assystem Technologies India Private Limited on March 27, 2015, and further to M/s Expleo Technologies India Private Limited on March 16, 2019, under the Companies Act, 2013, as per the certificate of incorporation issued by the Registrar of Companies, Karnataka. The company is engaged in the business of computer programming, consultancy and related activities. The applicant had received funds towards share application money from the non-resident investors, namely, M/s True Pearl Limited, Mauritius, M/s Assilver Systems Limited, UK, M/s Silver Antena Limited, UK and M/s Assystem, France | (i) 703,97,782.40 (ii) 10,062 (iii) 703,97,780 | 327,608 | |
| 2.250 | M/s Huawei Digital (India) Private Limited | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 6teen days to 4 months and 13 days | The contravention sought to be compounded is delay in reporting of receipt of foreign inward remittances towards subscription to equity | The company is engaged in the business of selling, marketing, exporting, importing of all kinds of computer software and all computer related applications and providing support services. | 35,760,000 | 68,580 | |
| 2.251 | M/s Livesport Interactive Technologies Private Limited | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 4 years 8 months and 25 days to 5 years 3 months and 3 days (ii) 6 months and 10 days (iii) 4 years 6 months and 21 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) allotment of shares beyond 180 days from the date of receipt of inward remittance (iii) delay in submission of form FCGPR to the Reserve Bank, after issue of shares to a person resident outside India | The company is engaged in the business of developing and marketing interactive software and technologies in the area of communication sector and live sports. | (i) 127,32,100 (ii) 89,05,600 (iii) 127,32,000 | 369,081 | |
| 2.252 | M/s NTT Security (India) Private Limited | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 3 months and 27 days | The contravention sought to be compounded is allotment of shares to persons resident outside India, prior to receipt of amount of consideration | The activity undertaken by the company is computer consultancy and computer facilities management activities. | 100,000 | 50,500 | |
| 2.253 | M/s Plackal Techno Systems Private Limited | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 2 years 1 months and 22 days. | The contravention sought to be compounded is delay in reporting receipt of foreign inward remittance towards subscription to equity | The Company is engaged in the business of developing mobile based applications. | 20,069,795 | 15,425 | |
| 2.254 | M/s Reitzel Speciality Foods Private Limited | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 3 days to 1 years 5 months and 2 days | The contravention sought to be compounded is delay in reporting receipt of foreign inward remittance towards subscription to equity | The activity undertaken by the Company is buying, importing, exporting and whole sale trading of all kind of food products. | 8,466,331 | 20,700 | |
| 2.255 | M/s Sidvin Outotec Engineering Private Limited | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 years 4 months and 10 days (ii) 3 years 1 months and 21 days | (i) delay in reporting foreign inward remittances received for issue of shares (ii) delay in filing Form FCGPR after issue of shares | The company is engaged in the business of providing information technology and computer service activities to its clients. | (i) 20,33,510 (ii) 20,33,510 | 33,975 | |
| 2.256 | M/s Truebell Marketing and Distribution Private Limited | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 years 10 months and 5 days to 2 years and 6teen days (ii) 4 months and 9 days. | (i) delay in reporting of form FCGPRs to the Reserve Bank, after issue of shares to a person resident outside India (ii) allotment of shares, prior to the receipt of amount of consideration | The business activity of the company is to operate as a FMCG distribution company for Travel Retail Stores. | (i) 260,54,320 (ii) 76,000 | 110,808 | |
| 2.257 | M/s Vervenest Technologies Private Limited | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 10 months and 24 days. | The contravention sought to be compounded is delay in reporting the receipt of foreign inward remittance in form ARF towards subscription to equity | The business activity undertaken by the company is to provide information technology and computer service activities to its clients | 31,546,845 | 12,300 | |
| 2.258 | M/s Visirx Technologies Private Limited | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) in reporting receipt of foreign inward remittance (ii) in ubmiion of form FC-GPR | (i) two months and seven days to five months and nineteen days (ii) two months and twenty four days to one year and fourteen days | The applicant had received funds towards share application money from the non-resident investors, namely, Mr. Ramkumar Subramanian, USA, and M/s Shivaling INC, USA. The applicant reported receipt of remittances to the Reserve Bank / Authorized Dealer Bank, with a delay | (i) 715,800 (ii) 715,650 | 22,830 | |
| 2.259 | M/s. Zucchini India R & D Chemicals Pvt. Ltd. | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 20 days to 1 months 28 8 days (ii) 5 days to 3 months and 6 days (iii) 1 years 2 months and 11 days | (i) delay in reporting of inflow of funds (ii) delay in submission of form FCGPR (iii) Delay in issue of security after receipt of amount of consideration | The applicant was incorporated on April 19, 2012 under the provisions of the Companies Act, 1956 (Registration Number U24100RJ2012PTC038600) and is engaged in the business of chemicals. | (i) 226,41,939 (ii) 263,76,440 (iii) 387,280 | 74,994 | |
| 2.260 | M/s Buildwealth Technologies Private Limited | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) twenty days to 1 years 1 months and 11 days (ii) 1 years and 8 days | (i) delay in reporting receipt of foreign inward remittances towards subscription to equity (ii) delay in submission of form FCGPRs | The applicant had received funds towards share application money from the non-resident investors, namely, M/s GD Trading FZE, UAE, M/s V H Capital, Mauritius, Mr. Rakesh K Agrawal, USA, M/s Globevestor Angel Fund I, LLC, USA, M/s V1 Capital Limited, and Mr. Durga D Agrawal & Mrs. Sushila Agarwal, USA, | (i) 26,59,347 (ii) 976,707 | 24,085 | |
| 2.261 | M/s. MT.Derm Medical Products Pvt Ltd. | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 16 days to 5 years 11 months 25 days (ii) 6 days to 3 months 13 days (iii) 7 years 2 months to 7 years 2 months 6 days | (i) delay in reporting of inflow of funds received from a person resident outside India (ii) delay in submission of Form FCGPR (iii) delay in refund of inward remittances received | The applicant received foreign inward remittances from M/s MT.Derm GmbH, Germany towards subscription to shares | (i) 68,46,000 (ii) 63,01,000 (iii) 545,000 | 84,647 | |
| 2.262 | Shri Nitin Jayantilal Mankad | Nov/2019 | ODI | FEMA 120/RB-2004 | Delay in reporting | (i) October 26, 2014 and November 17, 2014 (due date) repectively, to June 20, 2018 (date of ubmiion of Form ODI Part I) (ii) 1 years to 4 years (iii) september / October 16, 2014 to January 1, 2019 | (i) delayed submission of Form ODI Part I (ii) delayed submission of APRs for the years 2014 to 2018 (iii) routing of the remittance of ODI through a nondesignated AD Bank | The applicant, a resident individual had remitted AUD 58181 and AUD 38064 on September 26, 2014 and October 17, 2014 respectively towards investment in overseas JV viz., V.A. Mining Pty. Ltd. in Australia. The applicant submitted Form ODI Part I for the said remittances with delay The applicant routed the aforesaid remittance for ODI through ICICI Bank instead of the designated AD bank i.e., Canara Bank. | (i) 32,00,000 and 21,00,000 (iii) 53,00,000 | 165,642 | |
| 2.263 | Oremus Corporate Services Pvt Ltd | Nov/2019 | ODI | FEMA 120/RB-2004 | Delay in reporting | (i) 1 to 241 days (ii) of 2 years 3 months (iii) on different date between 2015 and 2019 | (i) delayed submission of share certificate or other evidence of investment (ii) delay in reporting of change in capital structure in respect of one overseas joint venture (iii) delayed submission of Annual Performance Reports (APRs) | The applicant set up two overseas entities. One, a joint venture (JV) in USA viz. Oremus Corporation N.A in November 2012 and another wholly owned subsidiary (WOS) in UK, viz, Oremus UK Ltd in September, 2016. In respect of the UK WOS, three remittances of GBP 25,000, 50,000 and 43,000 were made in 2016 and 2017 towards equity infusion in the entity against which, the applicant received share certificates for the remittances with delay In September 2016 there was a change in capital structure of the overseas WOS as a result of which the status of the overseas entity changed to JV from WOS. This transaction was reported to Reserve Bank with delay APRs for the US JV for the years 2013 to 2018 were reported with delay. | 28 lakh | 105,625 | |
| 2.264 | M/s Orion Media Trading (India) LLP | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 0Y 1M 25D | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity | an Indian LLP receiving Foreign Direct Investment in accordance with these Regulations should report to the Reserve Bank of India as per the prescribed procedure not later than 30 days from the date of receipt of the amount of consideration. However, the applicant reported receipt of remittances to the Reserve Bank of India on dates indicated above with a delay. | 1,000,000 | 10,333 | |
| 2.265 | Pitchers Internet Private Limited | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 11 months (ii) 11 months and 16 days. | (i) delay in reporting foreign inward remittance (ii) delay in filing Form FCGPR | The applicant company, incorporated on January 12, 2017, is engaged in other information technology and computer service activities n.e.c | (i) 160,34,646.38 (ii) 160,34,640 | 116,000 | |
| 2.266 | Pragmasys Consulting LLP | Nov/2019 | ODI | FEMA 120/RB-2004 | Delay in reporting | (i) November 20, 2015 to November 16, 2018 (ii) financial years 2015 and 2016 to December 28, 2018 (iii) 2016 and 2017 to October 29, 2018 and for the years 2018 till November 17, 2018 | (i) delayed submission of Form ODI Part I (ii) delay in filing APR (iii) delay in FLA returns | The applicant remitted USD 50,000 on November 20, 2015 towards investment in overseas WOS viz. Pragmasys Consulting LLC in USA. The applicant submitted Form ODI Part I for the above remittance with delay. The applicant reported APRs for the years 2015 and 2016 with delay | 3,309,500 | 67,500 | |
| 2.267 | Ms. Pratibha Agrawal | Nov/2019 | ODI | FEMA 120/RB-2004 | Contravention of provision | september 8, 2006 to June 15, 2019 | acquiring of foreign securities by way of gift from a person resident in India | The applicant, a resident individual and spouse of Shri Virendra Agrawal, a Senior Vice President - Finance in Sterlite Industries India Limited from 2001 to 2008. Shri Virendra Agrawal was offered 8,000 shares of Vedanta Resources Plc, London, in March 2004 to be issued in two tranches. 1st tranche of 4,000 shares was allotted in March 2004 and 2nd tranche was issued in February 2005. The consideration paid for shares allotted in 2nd tranche was equivalent to face value i.e., USD 400 (INR 17,532). Out of the 4,000 shares of the second tranche, Shri Agrawal gifted 3,000 shares to the applicant (Ms. Pratibha Agrawal) and accordingly, share certificates for these 3,000 shares were issued in the name of the applicant. | 2,249,232 | 66,869 | |
| 2.268 | M/s Primecraft Games Private Limited | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 9 months 24 days (ii) 3 months 22 days to 1 years 4 months 5 days | (i) delay in submission of form FCGPR (ii) delay in filing the annual return in respect of the Foreign Liabilities and Assets | The applicant received a remittance amounting to ₹ 12, 72,400/- towards share subscription from Mr Muralidhar Bethi on 27/06/2017 and reported to RBI within the stipulated time. | 1,272,390 | 32,083 | |
| 2.269 | R Srinivasan | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 3467 days | delay in submitting FCTRS | The applicant has received one foreign inward remittance amounting to ₹77,40,000/- from “a person resident outside India” viz. Gajam Group Gmbh, Germany towards transfer of equity shares of Educational Initiatives Pvt. Ltd., Ahmedabad. The applicant reported the transfer of shares from “a person resident in India” to “a person resident outside India” in Form FC-TRS to its Authorised Dealer bank | 7,740,000 | 76,500 | |
| 2.270 | M/s Ray Business Technologies Private Limited | Nov/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 1 years 1 months | delay in refund of share application money | The applicant had allotted 50,000 partly paid equity shares for a total consideration of ₹ 85,00,000/- against an inward remittance of ₹ 6,35,200/-, which was less than 25% of the total consideration to be received upfront. The non-resident investor did not remit the balance consideration to the applicant. The applicant then approached RoC with a request for cancellation of the above mentioned allotment which was approved. Further, the applicant approached Authorised Dealer with a request for approval to refund the amount of ₹ 6,35,200/- | 635,200 | 53,494 | |
| 2.271 | Shri Sameer Savara | Nov/2019 | ODI | FEMA 120/RB-2004 | Delay in reporting | (i) June 30, 2014, June 30, 2015, June 30, 2016 to December 31, 2017 (due date) repectively to January 30, 2019 and February 1, 2019 (ii) July 21, 2017 to February 18, 2019 | (i) delayed submission of APRs (ii) Delay in reporting the applicant disinvested from the overseas entity | (i) The applicant, a resident individual had remitted USD 40,100 under LRS on December 28, 2013 towards purchase of 147 equity shares (equivalent to 49% stake) of the overseas JV viz., Anjali General Trading LLC, UAE. The applicant submitted APRs for the years 2014 to 2018 with delay on January 30, 2019 (ii) The applicant disinvested from the overseas entity on May 7, 2017 and reporting of the same was done with delay on February 18, 2019, | 2,495,126 | 103,723 | |
| 2.272 | M/s Samputensili Machine Tools India Pvt Ltd | Nov/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 0Y 2M 9D to 0Y 2M 10D | (i) non issuance of equity shares within prescribed period (ii) non refund of money received withing prescribed period | The applicant received foreign inward remittances from non-resident investors towards equity shares | 85,001 | 1,606 | |
| 2.273 | M/s Seagreen Smart Tech India Private Limited | Nov/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 0Y 5M 8D | (i) non issuance of equity shares within prescribed period (ii) non refund of money received withing prescribed period | The applicant received foreign inward remittances from non-resident investors towards equity shares | 9,999 | 4,356 | |
| 2.274 | M/s. Seelam Infra Developers Private Limited | Nov/2019 | FDI | FEMA 20(R)/2017-RB | Delay in allotment Delay in reporting | (i) 7 days (ii) 2 months 18 days | (i) delay in allotment of shares (ii) delay in filing the Annual Return | The applicant is a resident company incorporated as a Private Limited Company under the Companies Act, 2013 on November 10, 2014 (CIN: U05000TG2014PTC096306). The company is engaged in the business of “Processing and canning of fish”. | 40,940,700 | 264,704 | |
| 2.275 | M/s. Smartek21 Pvt Ltd. | Nov/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 years 1 months 4 days to 1 years 3 months 14 days (ii) 2 years 11 months 19 days (iii) 10 months 28 days to 1 years 11 months 17 days | (i) delay in reporting of inflow of funds (ii) delay in submission to Reserve Bank of Form FCGPR (iii) delay in receipt of consideration | The applicant received foreign inward remittances from (i) Smartek21 LLC, USA and (ii) Mr. Alkarim S Lalji, USA towards subscription to MoA shares. The applicant reported receipt of remittances to the Reserve Bank as indicated above with delay. The applicant filed form FC-GPR as indicated above with delay. company received consideration towards allotment of MoA shares with delay | (i) 312,370 (ii) 313,060 (iii) 313,060 | 56,439 | |
| 2.276 | M/s. Star Health and Allied Insurance Co. Ltd. | Nov/2019 | FDI | FEMA 20(R)/2017-RB | Delay in allotment | 3 months 10 days | delay in allotment of shares | The applicant received two foreign inward remittances amounting to ₹30,50,00,079.00 on 31.12.2018 from (i) APIS Growth 15 Ltd., Mauritius and (ii) Mio Star, Mauritius towards subscription to capital instruments. The company delayed in allotting shares | 305,000,079 | 1,575,000 | |
| 2.277 | M/s. Striim Engineering Services India Pvt Ltd. | Nov/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 1 years 3 months 21 days | delay in refund of consideration | The applicant received three foreign inward remittances of ₹1,01,000.00 between 05.03.2018 and 28.03.2018 from (i) M/s. Striim International Inc., USA and (ii) M/s. Striim Inc., USA towards subscription to capital instruments. Against the above remittances, the company allotted capital instruments for ₹1,00,000.00 on 20.04.2018 and filed the FC GPR with Reserve Bank. | 1,000 | 131 | |
| 2.278 | Tarimela Advisors Private Limited | Nov/2019 | ODI | FEMA 120/RB-2004 | Delay in reporting | 1 years | delay in submission of Annual Performance Report (APR) | The company had made overseas direct investment (ODI) in its wholly owned subsidiary (WOS), Imimobile PLC, in UK in February 2016. Though the company had reported the investment, it failed to file the Annual Performance Report (APR) for the year 2016-17. The company had disinvested from the WOS in the year 2018 and APR filings were made after disinvestment with a delay | 907,838,533 | 10,000 | |
| 2.279 | M/s Tulsea Pictures Private Limited | Nov/2019 | FEMA -Borrowing & Lending in Rupees Regulations 2000 | FEMA 4/2000-RB | Contravention of borrowing and utilisation of borrowed fund | 7 years | (i) borrowings from NRI without issuance of NCDs through public offer (ii) utilizing borrowed funds for other than business purpose | (i) The applicant company appointed Mr. Datta Dave, an NRI, as one of the directors on the Board of the company w.e.f. 19.03.2010. The applicant company had raised an INR loan of Rs. 32, 96,432/- from Mr Datta Dave to meet its day-to-day expenses and other liabilities during the period from 04.11.2011 to 05.07.2014. As the loan in INR had been availed without issuing non-convertible debentures (NCD) through public offer, Regulation 5(1)(i) of FEMA 4/2000 dated May 03, 2000 was contravened by the applicant company. (ii) the applicant company had utilized Rs. 5,98,670/- for paying the lease rentals for a residential premises taken for Mr. Datta Dave and for meeting day-to-day expenses. | (i) 32,96,432 (ii) 598,670 | 129,213 | |
| 2.280 | Utkarsh CoreInvest Ltd. | Nov/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 7 months | (i) foreign investment in a company which is involved in the activity of investing in the capital of other Indian companies without the necessary prior government approval (ii) taking on record the transfer of shares of the company from a nonresident entity to another nonresident entity without prior government approval. | UMFL has applied for a licence to start a SFB, the applicant company (UMFL) which had foreign shareholding of around 84.1 %, made changes in its capital structure to become a ‘resident owned and controlled’ entity. In order to bring the foreign shareholding below 50%, the applicant company raised equity capital (by way of rights issue) which was offered to both resident and non-resident shareholders in November 2017. The applicant company received foreign investments to the tune of Rs 28,68,95,310/-. This was in contravention of the then applicable Regulation 16(B)(5) of FEMA 20(R), which stated that ‘’ Foreign investment into an Indian company, engaged only in the activity of investing in the capital of other Indian company/ies, will require prior approval of the Government. A core investment company (CIC) will have to additionally follow the Reserve Bank’s regulatory framework for CICs’’. | 841,959,690 | 4,309,797 | |
| 2.281 | Vishnuteerth Agnihotri | Nov/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 1509 days | delay beyond 60 days in submitting a report in Form Foreign Currency Transfer of Shares (FCTRS) | The applicant has received one foreign inward remittance amounting to ₹55,00,000/- from “a person resident ouside India” viz. Girish Jamula Reddy, USA towards transfer of equity shares of Educational Initiatives Pvt. Ltd., Ahmedabad. | 5,500,000 | 39,190 | |
| 2.282 | M/s Vista Tanweer Studios Pvt Ltd | Nov/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 0Y 0M 12D to 0Y 3M 11D | Non issuance of equity instruments and nonrefund of the money received from foreign investor | remittances amounting to Rs.1,75,96,898 (Rupees One Crore Seventy Five Lakh Ninety Six Thousand Eight Hundred Ninety Eight and Zero Paise Only), indicated in the table above the company allotted shares/refunded the amount after 60days/75days (as applicable)from the date of receipt of investment. | 17,596,898 | 161,482 | |
| 2.283 | Adani Brahma Belvedere Private Limited | Dec/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 5 months | The contravention sought to be compounded is of issue of shares to person resident outside India prior to receipt of the amount of consideration | The applicant company, incorporated on June 27, 2018, is engaged in the activities relating to alteration, addition, repair, maintenance carried out on own-account basis or on a fee or contract basis. | 50,000 | 2,100 | |
| 2.284 | Aditya Infotech Ltd | Dec/2019 | ODI | FEMA 120/RB-2004 | Delay in reporting | more than 6 months | The contravention sought to be compounded relate to nonsubmission of share certificate or refund of share application money within 6 months of making remittance towards overseas investment | The company is engaged in the sale and distribution of Security and Surveillance related equipment in India and abroad. | 4,554,316 | 10,000 | |
| 2.285 | Animesh Jain | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 5 days | The contravention sought to be compounded is of delay in reporting the transfer of shares in Form FCTRS beyond the stipulated period | The applicant, a resident individual, had transferred 430 equity shares of M/s 1MG Technologies Private Limited, a resident company engaged in the business of other information service activities n.e.c., to M/s 1MG Khosla Ventures, USA, a non-resident company, on July 13, 2016 for a consideration of ₹65,63,520/- (Rupees Sixty Five Lakh Sixty Three Thousand Five Hundred and Twenty only) which was received on July 13, 2016. | 6,563,520 | 10,560 | |
| 2.286 | Aspiring Minds Assessment Private Limited | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 days to 1 years, 11 months and 10 days (ii) 1 days to 3 years and 25 days (iii) in iue of hare i 12 days and for in refund of hare application m1y are 1 years 7 months & 6 days and 1 years 11 months & 26 days. | (i) delay in reporting foreign inward remittances received for issue of shares (ii) delay in filing Form FCGPR after issue of shares (iii) delay in issue of shares to person resident outside after receipt of the amount of consideration and delay in refund of excess share application money | The applicant company, incorporated on April 15, 2008, is engaged in the business of creating own centres for assessment and evaluation of candidates of various streams and backgrounds and also distributing franchise for assessment and training centres. | (i) 11,41,55,844 (ii) 13,79,05,281.34 (iii) 52,200 & 4050 | 203,228 | |
| 2.287 | M/s. Boge Compressors (India) Pvt Ltd. | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 31 days | The contravention sought to be compounded is delay in allotment of shares to the nonresident investor | The applicant company is engaged in business of manufacture of other pumps, compressors, taps and valves etc. | 2,900,500 | 48,378 | |
| 2.288 | Shri. Bollapragada Ravikanth | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 11 years 9 months 3 days | The contravention sought to be compounded is delay in reporting of form FCTRS for the transfer of shares from Resident to NonResident to the Reserve Bank of India | The applicant, Shri. Bollapragada Ravikanth, a resident individual (PAN: AKPPB4022Q) has transferred 5,000 equity shares, held in M/s Webtogo Mobiles Internet Private Limited, a company incorporated on November 23, 2006 (CIN: U72200AP2006PTC051784), on June 28, 2007 to M/s Webtogo Mobiles Internet GmbH, a non-resident company. | 50,000 | 21,833 | |
| 2.289 | Shri. Bollapragada Venkata Ramana Murthy | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 12 years 1 months to 12 years 1 months 18 days | The contravention sought to be compounded is delay in reporting of form FCTRS for the transfer of shares from Resident to NonResident to the Reserve Bank of India | The applicant, Shri. Bollapragada Venkata Ramana Murthy, a resident individual (PAN: AAQPB0433J) has transferred a total of 5,000 equity shares, held in M/s Webtogo Mobiles Internet Private Limited, a company incorporated on November 23, 2006 (CIN: U72200AP2006PTC051784), on June 28, 2007 to M/s Webtogo Mobiles Internet GmbH (non-resident company), Mr. Daniel Lothar Edzard Beringer & Mr. Peter Duesing (non-resident individuals). | 50,000 | 23,297 | |
| 2.290 | Bough Consulting (India) Private Limited | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 6 months & 12 days and 6 months & 24 days (ii) 3 months & 9 days to 9 months & 9 days | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in filing Form FCGPR after issue of shares | The applicant company, incorporated on January 4, 2016, is engaged in the business of management consultants and advisors to trade and industry | (i) 21,45,475 (ii) 21,40,000 | 24,105 | |
| 2.291 | M/s CDE ASIA LIMITED | Dec/2019 | FDI | FEMA 20/2000-RB & FEMA 20(R)/2017-RB | Delay in reporting | (i) 59 days to 2582 days (ii) 271 days to 4321 days (iii) of 345 days (iv) 31.03.2007 - 31.03.2017 & 2018 | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in filing Form FCGPR after issue of shares (iii) for delay in refund the excess amount (iv) delay in filing the Annual Return in respect of the Foreign Liabilities and Assets (FLAR) | The company had foreign inward remittances as towards subscription to shares from its foreign investors CDE Global Investments Ltd, U.K | 48,186,968 | 948,363 | |
| 2.292 | M/s. Congruent Info-Tech Pvt Ltd. | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 15 years 8 months 22 days (ii) 2 years 10 months 9 days (iii) 15 years 10 months 18 days (iv) 15 years 10 months 17 days | (i) violation of pricing guidelines in issue of shares (ii) delay in refund of consideration (iii) transfer of shares from resident to nonresident by way of gift without Reserve Bank’s approval (iv) taking on record the transfer of shares in the books of the company without Reserve Bank’s approval | The applicant company is engaged in the business of writing, modifying, testing of computer program to meet the needs of a particular client excluding web-page designing. | (i) 825,000 (ii) 10,32,900 (iii) 18,50,000 (iv) 18,50,000 | 215,519 | |
| 2.293 | Daiichi Sankyo India Pharma Private Limited | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 years & 14 days and 1 years, 2 months & 3 days (ii) 1 years, 6 months & 26 days and 10 years, 2 months & 15 days (iii) 2 months & 15 days and 3 months & 12 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (iii) delay in issue of shares after receipt of inward remittance | The applicant company was incorporated on March 13, 2007 in the State of Maharashtra and was engaged in research and experimental development on natural sciences and engineering. The applicant shifted its registered office from Mumbai in the State of Maharashtra to Gurugram in the State of Haryana on September 26, 2011. The compounding application has been filed by Mr. Ajit Krishnan who was appointed as liquidator at an extraordinary general meeting (EGM) held on September 7, 2017 wherein voluntary liquidation of the company was approved in accordance with the provisions of the Insolvency and Bankruptcy Code, 2016 read with Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017. | (i) 24,99,00,000 (ii) 176,99,00,000 (iii) 24,99,00,000 | 2,311,200 | |
| 2.294 | DANIELI INDIA LIMITED | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 942 days (ii) 225 days | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in filing Form FCGPR after issue of shares | The applicant, DANIELI INDIA LIMITED, was incorporated on October 31, 1996 and is in the business of Manufacture of machinery for metallurgy (NIC Code 2008 - 28230). | 2,427,150,000 | 686,666 | |
| 2.295 | Dreamcann Foods Private Limited | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 years, 7 months and 17 days to 5 years, 7 months and 12 days (ii) 1 years, 6 months and 29 days to 5 years, 6 months and 6 days | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in filing Form FCGPR after issue of shares | The applicant company, incorporated on August 18, 2004, is engaged in the business of manufacturing of food products | (i) 40,42,491 (ii) 40,40,984 | 66,670 | |
| 2.296 | M/s. e-GITS India Pvt Ltd. | Dec/2019 | FDI | FEMA 20/2000-RB & FEMA 20(R)/2017-RB | Delay in reporting | years 2010-11 to 2017-18 | The contravention sought to be compounded is delay in filing the annual return in respect of the Foreign Liabilities and Assets (FLA Return) | The applicant company was incorporated on December 10, 2001 under the provisions of the Companies Act, 1956 (Registration No. U72200TN2001PTC048133) and is engaged in business of research and experimental development on social sciences and humanities. | NIL | 80,000 | |
| 2.297 | ETRMServices India Private Limited | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 years, 1 months & 11 days and 1 years, 10 months & 12 days (ii) 2 years, 10 months and 3 days. (iii) 1 months and 7 days. | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (iii) issue of shares to person resident outside India prior to receipt of the amount of consideration, | The applicant company, incorporated on January 11, 2016, is engaged in other professional, scientific and technical activities n.e.c. | (i) 99,990 (ii) 99,990 (iii) 37,750 | 25,449 | |
| 2.298 | M/s. FreeElective Network Pvt Ltd. | Dec/2019 | FDI | FEMA 20/2000-RB & FEMA 20(R)/2017-RB | Delay in reporting | (i) 8 years 9 months 1 days (ii) 8 years 8 months 19 days (iii) 4 months 15 days | (i) delay in submission of Form FCGPR to Reserve Bank on allotment of shares (ii) delay in receipt of consideration (iii) delay in refund of receipt of consideration | The applicant company is engaged in business of operation of other websites that act as portals to the Internet, such as media sites providing periodically updated content. | (i) 499,000 (ii) 499,000 (iii) 11,840 | 53,011 | |
| 2.299 | FREE PAPER TRADING INDIA PRIVATE LIMITED | Dec/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 206 days | The contraventions sought to be compounded is for delay in refund of unutilized amount of share application money beyond the stipulated 75 days of the receipt of inflow to a person resident outside India | The applicant, FREE PAPER TRADING INDIA PRIVATE LIMITED, was incorporated on January 19, 2018 and is in the business of manufacture of other primary paper materials including composite paper and paper board n.e.c. (NIC Code 2008 - 17019). | 427,690 | 52,138 | |
| 2.300 | M/s. Gemland Properties Pvt Ltd. | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 7 years 9 months 28 days to 8 years 11 months 4 days (ii) 1 years 7 months 13 days to 9 years 3 months 21 days (iii) 2 months 28 days to 4 months 18 days | (i) delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (iii) delay in allotment of shares | The applicant company was incorporated on October 13, 2005 under the provisions of the Companies Act, 1956 (Registration No. U45100TN2005PTC057800) and is engaged in business of real estate activities on a fee or contract basis. | (i) 587,04,000 (ii) 746,62,000 (iii) 173,77,498 | 2,958,535 | |
| 2.301 | George Koch Sons India Private Limited | Dec/2019 | FDI | FEMA 20/2000-RB & FEMA 20(R)/2017-RB | Delay in reporting | (i) 11 months and 2 days (ii) 1 years, 7 months and 13 days. | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in filing Form FCGPR after issue of shares | The applicant company was incorporated on July 30, 2013 in the State of Tamil Nadu and is engaged in the business of undertaking the engineering, designing, manufacturing, installing and commissioning coating system work. The applicant shifted its registered office from Chennai in the State of Tamil Nadu to Delhi vide RoC Delhi’s order dated December 01, 2016. | (i) 157,96,358 (ii) 157,96,268 | 153,500 | |
| 2.302 | IHI Corporation | Dec/2019 | Establishment of BO/LO/PO in India | FEMA.22(R)/RB-2016 | Regulation 4(k) of Notification No.FEMA.22(R)/RB-2016 dated March 31, 2016 states that a person resident outside India permitted under these Regulations to establish a branch office or liaison office or project office may apply to the concerned Authorised Dealer Category-I bank for transfer of its assets to a Joint Venture / Wholly Owned Subsidiary or any other entity in India. Authorised Dealer Category-I bank shall be guided by the instructions laid down by Reserve Bank in this regard. | 1 years 4 months and 2 days i.e. October 6, 2017 to February 8, 2019. | The contravention sought to be compounded relates to transfer of Diesel Generator sets at profit before finalization of closure of Project office (PO) in India and without Reserve Bank permission | a. The applicant, M/s IHI Corporation, a company incorporated in Japan was awarded a contract in November 2013 by GSPC LNG Ltd for engineering, procurement, construction and commissioning assistance for LNG storage tanks at Mundra, Gujarat. The total amount of the contract is ₹ 3,86,65,06,032/-. b. Pursuant to the above, IHI established its Project Office in Mumbai under general permission. The said project is on the verge of completion. c. IHI has disposed certain assets which were not expected to be required for completing remaining work under the contract viz. 22 Diesel Generator sets on October 06, 2017 without prior approval from Reserve Bank of India. d. The said Diesel Generator sets were sold before finalization of closure of PO in India and without Reserve Bank permission at profit for a total consideration of ₹ 64,90,000/- (out of which ₹ 9,90,000 is IGST). The book value of Diesel Generator sets is ₹ 27,15,369/-. The aforesaid transfer of Generator sets amounts to contravention of Regulation 4(k) of Notification No.FEMA.22(R)/RB-2016 dated March 31, 2016 read with Para 11(i) and 11(ii) of FED Master Direction No. 10 dated January 01, 2016 as amended from time to time. | 64,90,000 Undue Gain 2784631 | 2,837,346 | |
| 2.303 | M/s. Industrial Kinetic Lab India Private Limited | Dec/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 28 days to 29 days | The contravention sought to be compounded is delay in receipt of share application money from the person resident outside India after allotment of shares | The company is engaged in the business of “Manufacturing and trading of bearing, gears and gearing”. | 999,000 | 54,995 | |
| 2.304 | Isha Business Pvt Ltd | Dec/2019 | ODI | FEMA 120/RB-2004 | Delay in reporting | 4 and half years | The contravention that is sought to be compounded is for the delay in submission of Annual Performance Reports (APRs) within the stipulated time period. | The applicant is engaged in the business of building of complete constructions or parts thereof, civil engineering, garments etc. The applicant set-up a Joint Venture (JV), Isha Yoga (China) limited in China by remitting HKD 4,000 towards 40% stake in the JV. The applicant had not reported Annual Performance Reports (APRs) for the period 2014 to 2018 within the stipulated time period thereby contravening Regulation 15 (iii) of Notification ibid. | 31,080 | 17,353 | |
| 2.305 | J.C. Gracomm International Private Limited | Dec/2019 | FDI | FEMA 20/2000-RB & FEMA 20(R)/2017-RB | Delay in reporting | (i) 1 years, 9 months & 6 days and 1 years, 8 months & 16 days. (ii) 2 years, 2 months and 20 days | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in filing Form FCGPR after issue of shares | The applicant company, incorporated on October 7, 2015, is engaged in the business of consultancy in the field of computerisation and development of application software, dealing in system design, software engineering, programming, data processing, training, research, etc. | (i) 50,000 (ii) 50,000 | 10,198 | |
| 2.306 | Jackbro Global Private Limited | Dec/2019 | ODI | FEMA 120/RB-2004 | Delay in reporting | (i) years 2017. (ii) 5 years and 6 months | (i) delay in submission of Annual Performance Report (APR) for the year 2017 (ii) delay in reporting of setup of step down subsidiary (SDS) | The applicant company is engaged in the business of manufacture of agricultural machinery and equipments. The company had undertaken overseas direct investment (ODI) to set up a wholly owned subsidiary (WOS) ‘’Jackbro Global Maruitius Pvt Ltd’’ in May 2013, which in turn had invested in Amcast Pvt. Ltd., an SDS in Zimbabwe. The company delayed the reporting of the investment in the abovementioned SDS and the submission of the APR in respect of the WOS for the year 2017. The transactions were taken on record when they were reported in December 2018, subject to compounding of the related contraventions. | 33,415,000 | 295,000 | |
| 2.307 | Ms. Jennifer Sapna Salins | Dec/2019 | ODI | FEMA 120/RB-2004 | Delay in reporting | (i) June 21, 2017 to November 20, 2017 and January 19, 2018 repectively (ii) Augut 31, 2018 to October 23, 2018 | (i) Share certificates were received by the RI prior to date of remittance i.e., share certificates without payment or on deferred payment basis (ii) no write off shall be allowed in case of disinvestments by the resident individuals | The applicant a resident individual (RI) invested AED 50,000 and AED 22,000 on November 20, 2017 and January 19, 2018 respectively in an overseas WOS viz., Bell O Seal DWC-LLC in UAE. Dubai World Central (DWC) Free Zone issued share certificates of AED 1,00,000 to the applicant on June 21, 2017 to the RI. Share certificates were received by the RI prior to date of remittance i.e., share certificates without payment or on deferred payment basis, resulting in contravention of Regulation 5(1) of Notification No. FEMA 120/ 2000-RB Due to adverse market conditions, the overseas entity went on incurring losses and accordingly, it was decided to close the overseas WOS. The applicant disinvested his stake and the entire equity was written off, which is in contravention of Para C.4 of Schedule V read with Regulation 20A of Notification No. FEMA 120/ 2000-RB. | (i) 8,88,500 and 3,83,020 (ii) 12,71,520 | 112,715 | |
| 2.308 | JTC Line Private Limited | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 2 months | The contravention sought to be compounded is of delay in filing Form FCGPR after issue of shares | The applicant company was incorporated in the State of Maharashtra on November 25, 2008 and is engaged in other land transport services n.e.c.The applicant shifted its Registered Office from Mumbai in the State of Maharashtra to Delhi vide RoC Delhi’s order dated August 16, 2017. | 100,000 | 10,170 | |
| 2.309 | LS Cable & System Ltd. | Dec/2019 | Establishment of BO/LO/PO in India | FEMA.22(R)/RB-2016 | The activity (making payment on behalf of foreign entities) of Bamnauli Project office does not relate to the contract secured by the foreign entity for which the project office was established. Hence, the same amounts to contravention of the Regulation 4(f) of Notification No.FEMA.22(R)/RB-2016 dated March 31, 2016 | 1 years 9 months and 6 days i.e May 19, 2017 to February 25, 2019. | The contravention sought to be compounded relate to the activity (making payment on behalf of foreign entities) of Indian Project office which does not form part of the contract secured by the foreign entity for which the project office was established. | a. The applicant, M/s L S Cable & Systems Ltd (LS Cable), a company incorporated in South Korea on October 25, 1969 is engaged in the business of manufacturing electric wires and cables for power distribution b. In India, L S Cable is engaged in executing various turnkey projects involving supplying, laying, jointing, testing & commissioning of cables. c. For execution of onshore supply and service contracts, LS Cable has established various Project Offices in India. d. Reserve Bank of India vide letter FE.CO.FID/914/10.05.000/2014-15 dated December 19, 2014 has allowed the company to maintain single bank account in the name of the Project Office (PO) for handling all the projects in India. e. LS Cable has similar projects in Bhutan and Bangladesh and had accordingly set offices in Bhutan and Bangladesh also. f. LS Cable Bhutan and LS Cable Bangladesh required funds in order to procure the materials/equipment from India for carrying out their activities. g. At that time, LS Cable Bhutan and LS Cable Bangladesh had paucity of funds for purchasing the said materials/equipment and their transportation, etc. Since surplus funds were lying in the bank account of Bamnauli Project office (Indian PO) and payment were to be made in India, India PO made payments directly to Indian vendors of LS Cable Bhutan PO and LS Cable Bangladesh PO for purchase of material and its transportation, insurance and custom clearance. h. The above activity (making payment on behalf of foreign entities) of Bamnauli Project office does not relate to the contract secured by the foreign entity for which the project office was established. Hence, the same amounts to contravention of the Regulation 4(f) of Notification No.FEMA.22(R)/RB-2016 dated March 31, 2016 | 33,973,901 | 148,909 | |
| 2.310 | Maneesh Pharmaceuticals Limited | Dec/2019 | Foreign Currency Accounts by a Person Resident in India | FEMA 10/2000-RB | Use of Foreign Currency Account (FCA) for receiving export proceeds | December 04, 2012 to February 26, 2015 | The applicant has sought to be compounded for use of Foreign Currency Account (FCA) for receiving export proceeds, | The applicant company is engaged in the business of manufacturing, exporting, importing and dealing in pharmaceutical products. The applicant company availed External Commercial Borrowing (ECB) loan in the year 2008 and opened a Foreign Currency Account (FCA) for parking the ECB proceeds in Singapore. However, the applicant company continued to maintain the account even after repayment of ECB and used the said account for receiving advances against export proceeds to the extent of USD 8208293 starting from December 2012, from one of its buyers, namely, M/s Svizera Europe B.V., Netherlands. The use of FCA for the abovementioned purposes was in violation of Regulation 3 of Notification No. FEMA 10/2000-RB. The FCA was closed vide UBS AG bank’s closure letter dated February 26, 2015. It has been declared in the compounding application dated June 28, 2019, that the particulars given by the applicant in the application are true and correct to the best of their knowledge and belief. It has been declared in the declaration furnished along with the compounding application that the applicant was under enquiry by the Directorate of Enforcement (DoE), in connection with the remittances received by the company and that all the details required by DoE at the time had been furnished by the applicant. | 492,953,938 | 3,007,724 | |
| 2.311 | McCann-Erickson (India) Pvt.Ltd | Dec/2019 | ODI | FEMA 19/RB-2000 | Regulation 16 of Notification No. FEMA 19/RB-2000 “Save as otherwise provided in the Act or rules or regulations made or directions issued thereunder or with the permission of the Reserve Bank, no Indian Party shall transfer by way of sale to any person whether resident in India or outside India, any share or security held by him in a Joint Venture or Wholly Owned Subsidiary outside India.” | 15 years and 6 months | The contravention sought to be compounded is disinvestment without approval from the Reserve Bank of India. | The applicant Company had invested NPR 800,000 (Rs 5,00,000) on September 25, 1998 towards investment in an overseas Wholly Owned Subsidiary (WOS) Viz., Maccann Erickson Nepal (Pvt) Ltd in Nepal. The applicant Company through a board resolution dated August 11, 2003 decided to liquidate the WOS and had stopped operations of the WOS since the date of board resolution and the company was subsequently liquidated in 2008. As the Company had started the liquidation process in August 2003 under automatic route, when it was not permitted under automatic route, the disinvestment transaction is in contravention of Regulation 16 of Notification No. FEMA 19/RB-2000. The disinvestment transaction was subsequently taken on record by the Reserve Bank of India on February 18, 2019. | 500,000 | 53,750 | |
| 2.312 | Mogli Labs (India) Private Limited | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 days to 5 months and 27 days. (ii) 16 days to 6 months and 25 days. | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in filing Form FCGPR after issue of shares | The applicant company, incorporated on May 8, 2015, is engaged in the business of other non-specialised wholesale trade n.e.c. | (i) 46,99,11,590 (ii) 63,02,46,840 | 286,480 | |
| 2.313 | Mr. Charan Kumar Raju Padmaraju | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 years 4 months and 29 days | The contravention sought to be compounded is delay in reporting the transfer of shares by Resident to NonResident | The applicant, Mr. Charan Kumar Raju Padmaraju, is a resident shareholder in the company M/s Kaalbi Technologies Private Limited, which was incorporated at Bengaluru, Karnataka, on March 20, 2014, under the Companies Act, 1956, as per the Certificate of Incorporation issued by Registrar of Companies, Karnataka. The applicant, had received an inward remittance of ₹17,35,824.00, from the non-resident transferee, M/s Anthil Scale Ventures Pte Limited, Singapore, on June 16, 2017. The resident transferor, Mr. Charan Kumar Raju Padmaraju, Bengaluru had transferred 116 equity shares worth ₹17,35,824.00, to the non-resident transferee, M/s Anthil Scale Ventures Pte Limited, on July 16, 2017, and reported the same in form FC-TRS with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank, on January 13, 2019, with a delay of one year four months and twenty nine days, beyond the prescribed period of 60 days from the date of receipt of amount of consideration. | 1,735,824 | 13,550 | |
| 2.314 | Mr. Devendra Parulekar | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 years 5 months and 14 days | The contravention sought to be compounded is delay in reporting the transfer of shares by Resident to NonResident | The applicant, Mr. Devendra Parulekar, is a resident shareholder in the company M/s Kaalbi Technologies Private Limited, which was incorporated at Bengaluru, Karnataka, on March 20, 2014, under the Companies Act, 1956, as per the Certificate of Incorporation issued by Registrar of Companies, Karnataka. The applicant, had received an inward remittance of ₹3,44,172.00, from the non-resident transferee, M/s V H Capital, Mauritius, on June 23, 2017. The resident transferor, Mr. Devendra Parulekar, Mumbai, had transferred 23 equity shares worth ₹3,44,172.00, to the non-resident transferee, M/s V H Capital, Mauritius, on June 23, 2017, and reported the same in form FC-TRS with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank, on February 05, 2019, with a delay of one year five months and fourteen days, beyond the prescribed period of 60 days from the date of receipt of amount of consideration. | 344,172 | 11,500 | |
| 2.315 | Mr. Sunilkumar Pillai | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1 years 4 months and 2 days | The contravention sought to be compounded is delay in reporting the transfer of shares by Resident to NonResident | The applicant, Mr. Sunilkumar Pillai, is a resident shareholder in the company M/s Kaalbi Technologies Private Limited, which was incorporated at Bengaluru, Karnataka, on March 20, 2014, under the Companies Act, 1956, as per the Certificate of Incorporation issued by Registrar of Companies, Karnataka. The applicant, had received an inward remittance of ₹4,18,992.00, from the non-resident transferee, M/s V H Capital, Mauritius, on June 27, 2017. The resident transferor, Mr. Sunilkumar Pillai, Bengaluru, had transferred 28 equity shares worth ₹4,18,992.00, to the non-resident transferee, M/s V H Capital, Mauritius, on June 27, 2017, and reported the same in form FC-TRS with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank, on December 28, 2018, with a delay of one year four months and two days, beyond the prescribed period of 60 days from the date of receipt of amount of consideration. | 418,992 | 11,420 | |
| 2.316 | M/s Atra Pharmaceuticals Limited | Dec/2019 | FDI | FEMA 20/2000-RB | (i) Para 9 (1) (A) of FEMA 20: Delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) Para 8 of FEMA 20: Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the inward remittance | (i) 4D to 1Y 5M 27D (ii) 4D to 1Y 7M 27D | (i) delay in reporting receipt of foreign inward remittances (ii) neither equity instruments were issued nor the money was refunded | The applicant received foreign inward remittances from non-resident investors towards equity shares / compulsorily convertible preference shares/ compulsorily convertible debentures. In respect of remittances amounting to Rs.505,20,884, the company allotted shares/ refunded the amount after 180 days from the date of receipt of investment. | (i) 35,59,45,654 (ii) 505,20,884 | 577,555 | |
| 2.317 | M/s BMI Wholesale Trading Pvt Ltd | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 27D (ii) 4D to 1Y 5M 3D . | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) Delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant received foreign inward remittances from non-resident investors towards equity shares / compulsorily convertible preference shares/ compulsorily convertible debentures and it reported the same to the Reserve Bank with a delay of 27 days. The company allotted equity shares/compulsorily convertible preference shares/compulsorily convertible debentures and filed FC-GPRs with a delay ranging from 0Y 0M 4D to 1Y 5M 3D | (i) 18,00,00,000 (ii) 20,34,01,177 | 122,750 | |
| 2.318 | M/s Bruker India Scientific Pvt Ltd | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y 1M 7D to 10Y 9M 25D (ii) 0Y 1M 10D to 10Y 7M 18D | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) Delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant received foreign inward remittances from non-resident investors towards equity shares / compulsorily convertible preference shares/ compulsorily convertible debentures and it reported the same to the Reserve Bank with a delay ranging from 0Y 1M 7D to 10Y 9M 25D. The company allotted equity shares/compulsorily convertible preference shares/compulsorily convertible debentures and filed FC-GPRs with a delay ranging from 0Y 1M 10D to 10Y 7M 18D | (i) 274,19,482 (ii) 155,600 | 50,000 | |
| 2.319 | M/s China Construction Sausum (India) Private Limited | Dec/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 0Y 0M 2D to 0Y 5M 12D | Neither the equity instruments were issued, nor the money refunded to the foreign investor within 60days / 75days (as applicable) from the receipt of the inward remittance | The company received a total amount of Rs. 106,23,260 towards subscription to equity istruments. Out of the same, the company allotted shares for Rs. 100,00,000 with a delay ranging from ranges from 0Y 0M 2D to 0Y 5M 12D. The balance amount was refunded within time limit under the regulation | 10,000,000 | 112,500 | |
| 2.320 | M/s Course5 Intelligence Pvt Ltd | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y 1M 11D . (ii) 0Y 1M 29D to 4Y 4M 17D | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) Delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | The applicant received foreign inward remittance from non-resident investor towards equity shares / compulsorily convertible preference shares/ compulsorily convertible debentures and it reported the same to the Reserve Bank with a delay of 0Y 1M 11D. The company allotted equity shares/compulsorily convertible preference shares/compulsorily convertible debentures and filed FC-GPRs with a delay ranging from 0Y 1M 29D to 4Y 4M 17D. | (i) 111,29,316 (ii) 253,75,029 | 257,500 | |
| 2.321 | M/s Cushman & Wakefield Advisory Asia (India) Pvt. Ltd | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y 0M 28D to 4Y 4M 25D . (ii) 1Y 1M 4D to 6Y 9M 6D (iii) 0Y 0M 17D | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) Delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India (iii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the inward remittance | The applicant received foreign inward remittances from non-resident investors towards equity shares / compulsorily convertible preference shares/ compulsorily convertible debentures and it reported the same to the Reserve Bank with a delay ranging from 0Y 0M 28D to 4Y 4M 25D. The company allotted equity shares/compulsorily convertible preference shares/compulsorily convertible debentures and filed FC-GPRs with a delay ranging from 1Y 1M 4D to 6Y 9M 6D. The company allotted shares/ refunded the amount after 180 days with a delay of 0Y 0M 17D | (i) 197,61,392 (ii) 188,50,000 (iii) 18,92,000 | 267,595 | |
| 2.322 | M/s Flemingo Dutyfree Shop Pvt Ltd | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y 1M 9D to 0Y 2M 1D (ii) 1Y 3M 4D to 2Y 2M 26D | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the inward remittance | (i) Para 9 (1) (A) of FEMA 20: Delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) Para 8 of FEMA 20: Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the inward remittance | (i) 738,49,427 (ii) 700,00,427 | 521,211 | |
| 2.323 | M/s Eugenetek India Private Limited | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 10M 14D (ii) 10M 20D | (i) Delay in filing form FCGPR (ii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the inward remittance | (i) Para 9 (1) (B) of FEMA 20: Delay in filing form FCGPR (ii) Para 8 of FEMA 20: Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the inward remittance | (i) 999,900 (ii) 524,900 | 42,491 | |
| 2.324 | M/s Get Simpl Technologies Private Limited | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y 0M 2D to 1Y 9M 6D (ii) 0Y 0M 3D to 1Y 5M 1D | (i) delay in reporting the receipt of consideration to Reserve Bank of India (ii) delay in submission of form FCGPR to Reserve Bank of India | 1. Paragraph 9(1)(A) of Schedule 1 to Notification No. 20/2000-RB for delay in reporting the receipt of consideration to Reserve Bank of India 2. Paragraph 9(1)(B) of Schedule 1 to Notification No. 20/2000-RB for delay in submission of form FC-GPR to Reserve Bank of India | (i) 27,55,09,206 (ii) 46,93,83,720 | 345,875 | |
| 2.325 | M/s Infivention Technologies Private Limited | Dec/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 0Y 2M 0D | Para 2 of FEMA 20 Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the inward remittance | The applicant received foreign inward remittances from non-resident investors towards equity shares / compulsorily convertible preference shares/ compulsorily convertible debentures and it reported the same to the Reserve Bank within time prescribed. In respect of remittance amounting to Rs. 1,30,368/- the applicant company allotted shares prior to receipt of inward remittance. Whereas, the sequence of events envisaged under Para 2 of FEMA 20R is that the Indian company has to first receive the inward remittance and then proceed with allotment of shares. Also, in terms of Para 2 of FEMA 20R, an Indian company is required to issue shares or refund the amount within 60 days/75 days (as applicable) from the date of receipt of inward remittance. The delay under this para is 0Y 2M 0D | 130,368 | 50,652 | |
| 2.326 | M/s Innovassynth Technologies (India) Limited | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y 0M 15D to 0Y 2M 20D (ii) 0Y 0M 5D to 0Y 2M 15D | (i) delay in reporting the receipt of consideration to Reserve Bank of India (ii) delay in submission of form FCGPR to Reserve Bank of India | The applicant received foreign inward remittances from non-resident investors towards equity shares / compulsorily convertible preference shares/ compulsorily convertible debentures and it reported the same to the Reserve Bank with a delay ranging from 0Y 0M 15D to 0Y 2M 20D The company allotted equity shares/compulsorily convertible preference shares/compulsorily convertible debentures and filed FC-GPRs with a delay ranging from 0Y 0M 5D to 0Y 2M 15D | (i) 990,000 (ii) 20,10,000 | 74,167 | |
| 2.327 | M/s Liquidindia Advertising & Digital Communications LLP | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 1Y 5M 9D | delay in reporting the receipt of consideration to Reserve Bank of India | The applicant received foreign inward remittances from non-resident investors towards equity shares / compulsorily convertible preference shares/ compulsorily convertible debentures and it reported the same to the Reserve Bank with a delay with a delay of 1Y 5M 9D. | 998,000 | 11,500 | |
| 2.328 | M/s Raj Borax Private Limited | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y 1M 5D to 0Y 2M 19D (ii) 0Y 0M 30D | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) Delay in filing Form FC GPR | The applicant received foreign inward remittances from non-resident investors towards equity shares and it reported the same with delay. It also filed Form FC-GPR with delay | (i) 50,65,306 (ii) 50,00,000 | 22,750 | |
| 2.329 | M/s Sagacious Financial Services Private Limited | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y 7M 29D (ii) 0Y 2M 19D | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) Delay in filing Form FC GPR | The applicant received foreign inward remittance from non-resident investor towards equity shares / compulsorily convertible preference shares/ compulsorily convertible debentures and it reported the same with delay. | (i) & (ii) 811,65,000 | 20,917 | |
| 2.330 | M/s Truckola Technologies Private Limited | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y 1M 15D to 2Y 1M 11D (ii) 2Y 2M 10D to 2Y 6M 5D | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) Delay in filing Form FC GPR | The applicant received foreign inward remittances from non-resident investors towards equity shares / compulsorily convertible preference shares/ compulsorily convertible debentures and it reported the same to the Reserve Bank with delay. The company allotted equity shares /compulsorily convertible preference shares/compulsorily convertible debentures and filed FC-GPRs with delay. | (i) 210,99,800 (ii) 211,00,040 | 219,333 | |
| 2.331 | M/s Vonken Technologies Pvt Ltd | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 3Y 0M 21D to 3Y 4M 27D | Delay in filing Form FC GPR | The company allotted equity shares/compulsorily convertible preferenceshares/compulsorily convertible debentures and filed FC-GPRs with delay | 305,523 | 16,500 | |
| 2.332 | M/s Kopi Desa Private Limited | Dec/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 1 months 2 days | The contravention sought to be compounded is delay in allotment of shares after the receipt of inward remittance beyond the stipulated time period | The applicant is a company registered as a private limited company, incorporated on July 22, 2016 under the Companies Act, 2013 (CIN:U55101GA2016PTC012952) with the main object of undertaking the business of restauran | 99,834 | 9,984 | |
| 2.333 | M/s Samdhana Vihar Health Private Limited | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3 months 4 days (ii) 5 years 10 months 17 days to 6 years 1 months 17 days (iii) 12 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of form FCGPR to the Reserve Bank, after issue of shares to a person resident outside India (iii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the inward remittance | The applicant is a company registered as a private limited company, incorporated on May 27, 2013 under the Companies Act, 1956 (CIN:U85190GA2013PTC007239) with the main object of undertaking the business of healthcare treatments | (i) 921,400 (ii) 921,400 (iii) 499,900 | 63,920 | |
| 2.334 | M/s Solidcreate Private Limited | Dec/2019 | FDI | FEMA 20/2000-RB & FEMA 20(R)/2017-RB | Delay in reporting | (i) 9 months 4 days (ii) 1 months 22 days to 2 years 1 days. (iii) 10 days to 6 months 3 days & 3 months 23 days to 6 months 5 days. | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of form FCGPR to the Reserve Bank, after issue of shares to a person resident outside India (iii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the inward remittance | The applicant is a company registered as a private limited company, incorporated on December 22, 2016 under the Companies Act, 2013 (CIN:U74999GA2016PTC013079) with the main object of undertaking the business of manufacture of wooden furniture | (i) 64,218 (ii) 100,950 (iii) 65,470 & 766,410 | 77,195 | |
| 2.335 | M/s Tree Tribe Private Limited | Dec/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 8 months 21 days to 1 years 1 months on 3 occaion | The contravention sought to be compounded is delay in allotment of shares after the receipt of foreign inward remittances beyond the stipulated time period | The applicant is a company registered as a private limited company, incorporated on October 10, 2016 under the Companies Act, 2013 (CIN:U55101GA2016PTC013016) with the main object of undertaking the business of hotels, motels, resort and providing short term lodging facilities | 5,463,585 | 77,530 | |
| 2.336 | M/s Tharakan Web Innovations Pvt. Ltd. | Dec/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | Financial Years 2014-15, 2015-16,2016-17 and 2017-18 | Delay in filing ‘ Annual Return on Foreign Liabilities and Assets’ (FLA Returns) | M/s Tharakan Web Innovations Ltd. had reported the receipt of funds of Rs.56,37,726/- during 2014-2017 for investment in the share capital of the company under FDI Scheme with delay ranging from 18 days to 103 | - | 40,000 | |
| 2.337 | Shri Sanjay Jayantilal Mankad | Dec/2019 | ODI | FEMA 120/RB-2004 | Delay in reporting | (i) November 16, 2014 (due date) to June 20, 2018 (ii) one year to four years (iii) October 16, 2014 to January 1, 2019 | (i) delayed submission of Form ODI Part I (ii) delayed submission of APRs for the years 2014 to 2018 (iii) routing of the remittance of ODI through a non-designated AD Bank | The applicant, a resident individual had remitted AUD 59,653 on October 16, 2014 towards investment in overseas JV viz., V.A. Mining Pty. Ltd. in Australia. The applicant submitted Form ODI Part I for the said remittance with delay on June 20, 2018. Further, the applicant submitted APRs for the years 2014 to 2018 with delay. The applicant routed the aforesaid remittance for ODI through ICICI Bank instead of the designated AD bank i.e., Canara Bank, in contravention of Regulation 6(2)(v) of Notification FEMA 120/ 2000-RB. | (i) ₹33,00,000/- (ii) - (iii) ₹33,00,000/- | 142,267 | |
| 2.338 | M/s SGGG INDIA PRIVATE LIMITED | Dec/2019 | FDI | FEMA 20(R)/2017-RB | Contravention of Paragraph 2 of Schedule 1 to Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2017 | 33 days | Allotment of shares prior to the receipt of share application money | The applicant company was incorporated on 09.02.2019 under the Companies Act 2013.The applicant is engaged in accounting, bookkeeping and auditing activities. The applicant allotted shares to foreign investor prior to the receipt of inflow amount | 99,900 | 903 | |
| 2.339 | M/s Achievers Finance India Private Limited | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) Delay of 2273 (ii) Delay of 2271 | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in filing Form FC-GPR after issue of shares | The company had received the under mentioned foreign inward remittance towards subscription to equity shares from its foreign investor, Mr.Debasis Bose | 13600000 | 102,833 | |
| 2.340 | Revolabs India Private Limited | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 6 months & 28 days and 1 year, 8 months & 21 days (ii) 1 year, 8 months and 20 days (iii) 6 years, 8 months & 9 days and 6 years, 5 months & 5 days | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in filing Form FC-GPR after issue of shares (iii) delay in refund of excess share application money | The applicant had reported receipt of foreign inward remittances from subscribers to the Memorandum of Association, M/s Revolabs Inc., USA and M/s Revolabs Ltd., UK, on two occasions beyond the prescribed period | 5,55,300 5,00,000 55,300 | 61,383 | |
| 2.341 | M/s Fowks Infomedia Private Limited | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) ten months and twenty six days (ii) one year three months and eighteen days | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of form FC-GPR | The applicant had received funds towards share application money from the non-resident investor, namely, M/s Numa Accelerate, France. The company had not reported the inward remittance. Since, reporting in form ARF was discontinued with effect from September 01, 2018, the delay/contravention period for non-reporting of the said inward remittance has been considered till August 31, 2018. The applicant had filed form FC-GPR on allotment of shares with a delay. | 2,820 | 311 | |
| 2.342 | M/s PMC RUBBER CHEMICALS INDIA PRIVATE LIMITED | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting and delay in allotment | (i) 1808 days - Form ARF and 2127 to 4857 days - FC-GPR (ii) 18 days | (i) delay in submission to the Reserve Bank Form ARF and Form FC-GPR (ii) delay in allotment of shares beyond 180 days | The company had contravened in respect of foreign inward remittance as given in Table A below towards subscription to equity shares from its foreign investor PMC Group France SARL,France. The company had received the inflow on April 22, 2008 but allotted shares on November 06, 2008 | 511,436,223 | 2,455,980 | |
| 2.343 | Veronafiere Lems India Private Limited | Dec/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 4 months and 14 days | delay in refund of excess share application money | The applicant had issued 15,000 equity shares for a consideration of ₹15,00,000/- to its foreign investor, M/s Veronafiere SPA, Italy, against inward remittance of ₹16,04,000/- received on April 17, 2018. The excess share application money amounting to ₹1,04,000/- was refunded by the applicant on November 15, 2018 with a delay of 4 months and 14 days beyond the prescribed period | 104,000 | 50,520 | |
| 2.344 | Mr. Rajesh Gilbert Salins | Dec/2019 | ODI | FEMA 120/RB-2004 | (i) Contravention of Regulation 5(1) (ii) Para C.4 of Schedule V read with Regulation 20A of FEMA 120/ 2000-RB | (i) June 21, 2017 to November 20, 2017 and January 19, 2018 respectively (ii) August 31, 2018 to October 23, 2018 | (i) receiving share certificates without payment (ii) contravention of Para C.4 of Schedule V read with Regulation 20A | (i) The applicant a resident individual (RI) invested AED 50,000 and AED 22,000 on November 20, 2017 and January 19, 2018 respectively in an overseas WOS viz., Bell OSeal DWC-LLC in UAE. Dubai World Central (DWC) Free Zone issued share certificates of AED 1,00,000 to the applicant on June 21, 2017 to the RI. Share certificates were received by the RI prior to date of remittance. (ii) Due to adverse market conditions, the overseas entity went on incurring losses and accordingly, it was decided to close the overseas WOS. The applicant disinvested his stake and the entire equity was written off which resulted in contravention | (i) 8,88,500 and 3,83,020 (ii) 12,71,520 | 112,715 | |
| 2.345 | Ms.Richa Saloni Salins | Dec/2019 | ODI | FEMA 120/ 2000-RB | Delay in reporting | (i) June 21, 2017 to November 20, 2017 and January 19, 2018 (ii) August 31, 2018 to October 23, 2018 | (i) Share certificates were received by the RI prior to date of remittance (ii) disinvestment of stakes and writing off equity in contravention of Para C. 4 of Schedule V read with Regulation 20A | The applicant a resident individual (RI) invested AED 50,000 and AED 22,000 on November 20, 2017 and January 19, 2018 respectively in an overseas WOS viz., Bell O Seal DWC-LLC in UAE. Dubai World Central (DWC) Free Zone issued share certificates of AED 1,00,000 to the applicant on June 21, 2017 to the RI. Share certificates were received by the RI prior to date of remittance Due to adverse market conditions, the overseas entity went on incurring losses and accordingly, it was decided to close the overseas WOS. The applicant disinvested his stake and the entire equity was written off, which is in contravention of Para C.4 of Schedule V | (i) 8,88,500 and ₹3,83,020 (ii) 12,71,520 | 112,715 | |
| 2.346 | Smt. Lingamaneni Prasanthi | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 2 years 11 months 7 days | submission of form FC-TRS | There was a transfer of 5,000 shares of M/s Lingamaneni Educational Academy Foundation Private Limited on August 10, 2016, from Resident, Smt. Lingamaneni Prasanthi (PAN No: ABKPL8034E) to Non-Resident Company M/s Futuretech Holding Company, USA. The applicant has filed form FC-TRS with a delay beyond the prescribed time | 5,990,065 | 31,000 | |
| 2.347 | Siemens Industry Software (I) Pvt Ltd. | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | eighteen years and nine months | (i) delay in reporting of foreign inwardremittances received with respect to FDI (ii) delay in submission of FC-GPR form for issue and allotment of equity shares with respect to the FDI (iii) delay in submission of FCGPR form | The applicant company had received inward remittances in multiple tranches during the period from 1998 to 2003, from M/s Siemens USA towards subscription to equity shares of the applicant company amounting to Rs 2,73,00,000/-. The details of the receipt of inward remittances for issue of shares was reported to RBI with a delay beyond the prescribed period which resulted in a contravention. The applicant company had allotted shares against the abovementioned foreign inward remittances in 2003. However, there was a delay in submission of FC-GPR the applicant company had entered into a scheme of amalgamation with M/s LMS India, under which it allotted 525,168 equity shares to non-resident shareholders of M/s LMS India in July 2016, amounting to Rs 52,51,680/-. The applicant company filed the FC-GPR form | (i) 2,73,00,000 (ii) 2,73,00,000 (iii) 52,51,680 | 1,759,417 | |
| 2.348 | Shri Shanker Janakiraman | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | seven years one month 22 days approx | delay in submission of FC-TRS | The applicant sold 9999 equity shares of ₹10/- each at a fair price of ₹10/- to the Non-Resident shareholder M/s. Urjanet Inc., USA. The applicant reported the transfer in Form FC-TRS to the Authorised Dealer bank with delay | ₹\ 99,990.00 | 17,170 | |
| 2.349 | Md. Shakir Hasan | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 5 days | delay in reporting the transfer of shares in Form FC-TRS | The applicant, a resident individual, had transferred 55 equity shares of M/s 1MG Technologies Private Limited, a resident company engaged in the business of other information service activities n.e.c., to M/s 1MG Khosla Ventures, USA, a non-resident company, on July 13, 2016 for a consideration of ₹8,39,520/-. The applicant reported the said transfer of shares in Form FC-TRS on September 16, 2016 with a delay of 5 days beyond the prescribed period | 839,520 | 10,080 | |
| 2.350 | Qatar Aviation Services India Private Limited | Dec/2019 | FDI | FEMA 20(R)/2017-RB | Issue of shares prior to receipt of consideration | 12 days | issue of shares to the person resident outside India prior to receipt of the amount of consideration | The applicant had received foreign inward remittances on four occasions against 45,00,000 equity shares issued on April 04, 2019 to its subscribers to the Memorandum of Association (MoA), M/s Qatar Airways Group Q.C.S.C, Qatar and M/s Qatar Aviation Services, Qatar, for a consideration of ₹4,50,00,000/-. Out of the total consideration, the applicant received ₹37,23,440.85 in two tranches with delay. | ₹\ 3,723,440.85 | 68,617 | |
| 2.351 | Torrent Pharmaceuticals Limited | Dec/2019 | ODI | FEMA 120/RB-2004 | Delay in reporting | eight years | delay in submission of Annual Performance Report (APR) | The company had made an overseas direct investment (ODI) in a joint venture (JV) “GPC Cayman Investors I Ltd.’’, during 2007-2012. Subsequently, in July 2015, the applicant company had disinvested from the JV and funds were repatriated. However, the APRs for the years from 2008 to 2015 were filed with a delay. | 374,900,000 | 80,000 | |
| 2.352 | Mr. Vivek G Pawar | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | six years twenty six days to six years two months and sixteen days | The contravention sought to be compounded is delay in reporting the transfer of shares by Resident to Non-Resident | The applicant, Mr. Vivek G Pawar, is a resident shareholder in the company M/s Sankalp Semiconductor Private Limited, which was incorporated at Bengaluru, Karnataka, on October 31,2005 under the Companies Act, 1956, as per the Certificate of Incorporation issued by the Deputy Registrar of Companies, Karnataka. The applicant, had received inward remittances of ₹5,00,000.00, and ₹12,78,528.00, amounting to ₹17,78,528.00, from the non-resident transferee, Mr. Mahesh Jadhav, USA, on November 29, 2012, and January 17, 2013, respectively. The resident transferor, Mr. Vivek G Pawar, Bengaluru, had transferred 95000 equity shares worth ₹17,78,400.00, to the non-resident transferee, Mr. Mahesh Jadhav, USA, on January 31, 2013, and reported the same in form FC-TRS with the Bengaluru Regional Office of the Reserve Bank of India / Authorized Dealer Bank, on April 13, 2019, with a delay, beyond the prescribed period of 60 days from the date of receipt of amount of consideration. | 1,778,400 | 31,450 | |
| 2.353 | Narayana Hrudayalaya Limited | Dec/2019 | ODI | FEMA 120/RB-2004 | Delay in reporting | (i) & (ii) six months to three years and seven months approx (iii) six years | (i) delay in submission of Annual Performance Reports (APRs) (ii) delay in submission of Form ODI for seven outward remittances (iii) delay in submission of Form ODI in respect of four Standby Letters of Credit (SBLCs) | The applicant had incorporated a Wholly Owned Subsidiary (WOS) in Cayman Islands in the year 2010 by the name ‘’Narayana Cayman Holdings Ltd’’, under ODI. The WOS entered in a Joint Venture (JV) agreement with a non-resident entity and set up another overseas entity viz. ‘’Health City Cayman Islands’’ (which became an overseas step down subsidiary of the applicant) in 2010 in collaboration with another company from USA. In the year 2018, the WOS bought back the equity held by the non-resident JV partner-entity and ‘’Health City Cayman Islands’’ thus became a WOS of the applicant under ODI. (AD) bank of the applicant, had issued SBLCs in favour of ’Narayana Cayman Holdings Ltd’’, on behalf of the applicant in the year 2014 and had subsequently rolled it over for the next three consecutive years till 2017. The same was reported through Form ODI- with a delay. Further, seven outward remittances were made through EXIM bank during the 2013-14, for which Form ODI was filed with a delay, which too resulted in contravention | 2,122,303,273 | 1,832,500 | |
| 2.354 | Phoenician Medical Center India Private Limited | Dec/2019 | FDI | FEMA 20(R)/2017-RB | Issue of shares prior to receipt of consideration | 2 months & 10 days and 2 months & 11 days | Issue of shares to person resident outside India prior to receipt of the amount of consideration | The applicant issued 9,990 equity shares on February 12, 2019 to the subscriber to its Memorandum of Association, M/s Phoenician Medical Center Inc., U.S.A. The consideration for the said shares amounting to ₹99,990/- was received in two tranches, after the issue of shares, as detailed below, with delay. | 99,900 | 2,498 | |
| 2.355 | Rupinder Singh Bedi | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 2 years, 2 months and 17 days | delay in refund of excess money received for transfer of shares | The applicant, a resident individual, had received ₹56,102.24 from Climacell Inc, USA, a non- resident company (the transferee), on March 10, 2017 as consideration for transfer of 9998 equity shares of the Indian Company, M/s Climacell In Private Limited, engaged in weather forecasting activities. The applicant had filed Form FC-TRS (reference number RF 169535) for the above transaction, AD Bank sought certain clarifications /documents including mismatch of the address of the remitter in KYC and FIRC. The mismatch could not be rectified due to closure of the bank account of the transferee. Later, a new bank account was opened by the transferee and the applicant again received the consideration for transfer of 9998 equity shares, from the transferee, on February 14, 2018. The reporting was done again through e-Biz Portal vide Form FC-TRS (reference number RF 225972) on April 5, 2018 and same the was approved by the AD Bank on April 24, 2018. There was, thus, excess share transfer money amounting to ₹56,102.24 received by the applicant for which approval was sought from the Reserve Bank of India for refund through their AD bank on May 24, 2019. Approval for refund was granted on June 27, 2019 | ₹\ 56,102.24 | 12,623 | |
| 2.356 | M/s. Scientific Publishing Services Private Limited | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | 19 days | delay in submission of Form FC-GPR | The applicant was holding 4500000 equity shares of the applicant company from September 22, 2006. In terms of NCLT order dated December 12, 2016, Springer SBM Services Limited, Mauritius was amalgamated with the applicant company. On amalgamation, as per NCLT order, 4500000 equity shares at face value of ₹10 each of the applicant company were allotted to Springer Nature Singapore Pte Ltd., Singapore | ₹\ 45,000,000 | 14,000 | |
| 2.357 | Suresh Taneja | Dec/2019 | FDI | FEMA 20/2000-RB & FEMA 11/2000-RB | Delay in reporting | 3 years 10 months and 18 days to 8 years 3 months and 4 days | possession and retention of foreign exchange and Surender of foregin currency | The applicant is a person resident in India and group CFO of Triveni Engineering and Industries Ltd. The applicant had undertaken various official visits to other countries but failed to surrender the forex amount held above the prescribed limit of USD 2000. | 109,125 | 177,219 | |
| 2.358 | PRS Healthcare Private Limited | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 4 months & 20 days and 12 days (ii) 1 month and 19 days (iii) 3 months and 4 days | (i) delay in reporting foreign inward remittances (ii) delay in filing Form FC-GPR (iii) delay in issue of shares beyond 180 days | the applicant had reported the remittances received from its foreign investor, M/s PRS Holding AB, Sweden, with delay. The applicant had issued 39,71,630 equity shares to M/s PRS Holding AB, Sweden on March 31, 2012 for a consideration of ₹3,97,16,300/- and reported the same on June 18, 2012 with a delay. The applicant had issued the aforesaid equity shares on March 31, 2012 against the remittance of ₹3,88,17,000/-, received from its foreign investor on June 30, 2011, with delay | (i) 3,97,16,300 (ii) 3,97,16,300 (iii) 3,88,17,000 | 232,644 | |
| 2.359 | M/s Datasigns Technologies Private Limited | Dec/2019 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | six months and ten days | The contravention sought to be compounded is delay in refund of share application money to the foreign investor/persons resident outside India, beyond the stipulated period of 75 days from the date of receipt of the inward remittance | The company is engaged in the business of offering technology driven lending platform to various banks and non-banking entities. | 10,000 | 526 | |
| 2.360 | M/s Preactor Software India Private Limited | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) nine years two months and sixteen days to nine years three months and fourteen days (ii) ten years ten months and twelve days | (i) delay in reporting foreign inward remittance received for issue of shares (ii) delay in filing Form FC-GPR after issue of shares | The company is engaged in the business of sale of software license, implementation and maintenance thereof. The applicant had received funds towards share application money from the non-resident investor, namely, M/s Preactor International Limited, UK | (i) 3,50,000 (ii) 3,50,000 | 49,500 | |
| 2.361 | M/s. Orbitronics Enterprises Pvt Ltd. | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | seven years 25 days to seven years three months seven days approx | delay in submission of Form FC-GPR | The applicant had received one foreign inward remittance of ₹6,15,395/- from Shri Kanthasamy Ratnavel Pandian, USA and Smt. Geetha Meenatshi Kanthasamy, USA towards subscription to capital instruments. The applicant filed the forms FC-GPR as indicated above with delay | ₹\ 615,000.00 | 24,410 | |
| 2.362 | M/s Simplify Wellness India Private Limited | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 7 months 18 days approx (ii) 8 days to 7 months 14 days approx (iii) 1 year 4 months 14 days to 2 years 4 months 13 days approx | (i) Delay in reporting receipt of foreign inward remittances towards the subscription of equity (ii) Delay in submission of form FC-GPR (iii) delay in filing of FLA returns | The applicant reported receipt of remittances towards share subscription amounting to ₹ 1,92,22,040/- to the Regional Office of Reserve Bank of India out of which share application money of ₹ 1,00,000/- was reported with a delay of 7 months 18 days approximately beyond the prescribed limit. The applicant filed form FC-GPRs for the allotment of shares amounting to ₹ 1, 92, 22,040/- which were reported with delays The applicant had filed FLA returns for 2 years with delays | (i) 1,00,000 (ii) 1,92,22,040 | 45,540 | |
| 2.363 | M/s. Triterras Smart Id Systems India Pvt Ltd. | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) three years three months seven days to three years ten months 17 days approx (ii) two years nine months 13 days to three years four months 22 days approx | (i) delay in reporting of inflow of funds (ii) delay in allotment of shares | The applicant received foreign inward remittances from M/s. Triterras Asia Pte Ltd., Singapore towards subscription to capital instruments. The applicant reported receipt of remittances to the Reserve Bank on dates indicated above with delay. The applicant company allotted shares against the foreign inward remittances received and filed FC-GPRs. The company allotted shares as indicated above | (i) & (ii) 10,12,16,541.20 | 1,161,191 | |
| 2.364 | M/s. WebToGo Mobiles Internet Private Limited | Dec/2019 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 4 months 26 days approx (ii) 10 years 2 months 8 days approx (iii) 11 years 11 months 9 days to 12 years 3 months 24 days approx (iv) 2 months 14 days to 7 years 2 months 9 days approx | (i) Delay in reporting of receipt of foreign inward remittances (ii) Delay in refund of un-allotted share application money to a person resident outside India, (iii) (iii) Taking on record transfer of shares by Investee Company without certified form FC-TRS (iv) Delay in filing of FLA returns | (i) The applicant reported receipt of remittance towards share subscription to the Regional Office of Reserve Bank of India, with a delay (ii) The applicant has delayed in refund of the un-allotted share application money to the non-resident investor beyond 180 days (iii) transfer of shares from resident shareholders to the foreign holding company (M/s WebToGo Mobiles Internet GmbH) and the foreign directors of the captioned company were taken on record without obtaining certified form FC-TRS (iv) The applicant has delayed in filing FLA Return (Foreign Liabilities and Assets) as indicated below. | (i) 1,00,000 (ii) 1,00,000 (iii) 1,00,000 | 172,107 | |
| 2.365 | M/s Asphar Research Labs Private Limited | Jan/2020 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | (i) 1 years 1 months 10 days (ii) 1 years 6 months 7 days (iii) 1 years 6 months 13 days | (i) delay in reporting receipt of foreign inward remittances (ii) delay in submission of form FCGPR to the Regional Office of the Reserve Bank after issue of shares to a person resident outside India (iii) delay in filing the annual return in respect of the Foreign Liabilities and Assets | The applicant is a resident company incorporated as Private Limited Company under the Companies Act, 2013. The applicant had received foreign inward remittance from a foreign investor. The applicant reported receipt of remittances towards share subscription amounting to ₹ 1,04,714/- to the Regional Office of Reserve Bank of India which was reported with delay of 1 year 1 month 10 days . The applicant allotted equity shares and filed form FC-GPR with delay of 1 year 6 months 7 days . The applicant has delayed in filing FLA Return. | (i) 104,714 (ii) 100,000 (iii) FLA filing | 32,750 | |
| 2.366 | Athenese-Dx Pvt. Ltd. | Jan/2020 | ECB | FEMA 3/2000-RB | (i) the lender was not recognized under the ECB framework (ii) drawdown on ECB loan before obtaining Loan Registration Number (LRN) from the Reserve Bank of India (RBI) (iii) non-compliance with reporting requirements for ECB | (i) 1896 days (ii) 1760 days (iii) 1760 days | (i) the lender is not a recognised lender (Lender 2) (ii) drawdown before obtaining LRN (Lender 1) (iii) ECB transaction not reported (Lender 1) | The applicant company had borrowed USD 199,940 from its group company, M/s Athenese Inc, USA, to set up a manufacturing facility in India. Since the funds were not sufficient, it had also borrowed from M/s CTK Biotech Inc, USA, an overseas company, which was one of its suppliers, an amount of USD 58,822.82. These loans (in the nature of external commercial borrowing, i.e.ECB) were raised during October 2013- June 2015- without obtaining LRN from RBI. While M/s Athenese Inc, USA - as a foreign equity holder, was a recognized lender; M/s CTK Biotech was not a recognized lender under the extant ECB framework. Also, the reporting requirements under ECB regulations were not complied with. The company was advised to reverse the loan transaction by repaying the amount due to M/s CTK Biotech Inc. to complete the administrative action. The amount was refunded to M/s CTK Biotech on January 24, 2019 and LRN in respect of ECB from M/s Athenese Inc, USA was obtained on May 23, 2019 and administrative action was thus complete. | (i) 36,63,760 (ii) 121,37,324 (iii) 121,37,324 | 333,111 | |
| 2.367 | Atrenta (India) Pvt Ltd. | Jan/2020 | FDI | FEMA 20/2000-RB | transfer of shares of the applicant from Shri Ajoy Kumar Bose (NRI) to M/s Atrenta Inc. (NR) without prior approval of the Reserve Bank of India | 16Y and 5M . | Transfer of equity shares from NR to NR without prior RBI approval | The applicant allotted 96,600 and 4,600 fully paid equity shares to M/s Atrenta Inc. and Shri Ajoy Kumar Bose (NRI) respectively, as part of subscription to the memorandum on May 26, 2001. Further, the applicant allotted 2,35,620 and 80 fully paid equity shares to M/s Atrenta Inc. and Shri Ajoy Kumar Bose respectively on October 10, 2001. However, Shri Ajoy Kumar Bose transferred 4,598 and 80 equity shares on May 26, 2011 and October 17, 2001 to M/s Atrenta Inc. without obtaining prior approval of Reserve Bank of India and the applicant took the transfer of shares from NRI to NR on record in its books, which is a contravention of Reg 4 of FEMA 20. | 46,780 | 79,526 | |
| 2.368 | M/s Cardant Software Private Limited | Jan/2020 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 M 04 D to 1 Y 09 M 20 D. (ii) 429 days | (i) delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India (ii) delay in filing of FLA returns | The applicant company issued shares to the non-resident investor but filed the Form FC-GPR with a delay ranging from 2 M 04 D to 1 Y 09 M 20 D. The company has delayed in filing FLA Return (Foreign liabilities and Assets for financial year 2017 -2018 with a delay of 429 days | (i) 999,80,000 (ii) FLA filing | 22,083 | |
| 2.369 | M/s CHC Consulting Asia-Pacific LLP | Jan/2020 | FDI | FEMA 20/2000-RB | Delay in reporting | 04 M 16 D to 06 M 04 D | delay in submission of Form FCGPR to the Reserve Bank after issue of shares to a person resident outside India | The applicant company issued shares to the non-resident investor but filed the Form FC-GPR with delay ranging from 04 M 16 D to 06 M 04 D | 16,261,110 | 17,000 | |
| 2.370 | M/s. Cofigure India Private Limited | Jan/2020 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 3 months 23 days | delay in allotment of shares to the foreign investor beyond 60 days from date of receipt of remittance | The applicant allotted shares for Rs 99,990/- after 60 days from the date of receipt, with a delay of 3 months 23 days . | 99,990 | 3,178 | |
| 2.371 | Dabur India Limited | Jan/2020 | ODI | FEMA 120/RB-2004 | Issue 1 - setting up a Step Down Subsidiary (SDS) in Pakistan without prior approval of Government of India (GoI) when it was prohibited (ii) setting up another SDS without prior approval of RBI in 2015 (iii) delayed reporting of setting up of SDS in Pakistan | (i) 4710 days (ii) 1479 days (iii) 264 days | (i) setting up a Step Down Subsidiary (SDS) in Pakistan without prior approval of Government of India (GoI) when it was prohibited (ii) setting up another SDS without prior approval of RBI in 2015 (iii) delayed reporting of setting up of SDS in Pakistan | The applicant company was originally incorporated in 1975 as Vishal Chemicals and later its name was changed to Dabur India in September 1986 (CIN L24230DL1975LC007908) and is involved in the manufacture of natural consumer products. The company had set up an overseas SDS in 2006 viz. ‘’Asian Consumer Care Pakistan (Pvt) Ltd’’ which was prohibited then and this resulted in violation of Regulation 5(1) read with Regulation 6(2) of Notification No. FEMA 120/2004-RB. Further, it had also set up another overseas SDS in 2015 viz. ‘’Dabur Pakistan (Pvt) Ltd’’, without obtaining prior approval of the RBI. This was a violation of Regulation 6(2) of Notification No. FEMA 120/2004-RB. Also, the applicant company delayed the reporting of setting up of SDS in Pakistan, in April 2015. The delayed reporting in February 2016 was in violation of Regulation 13 of FEMA 120. Government of India, Ministry of External Affairs, has conveyed its ‘’No Objection’’ for setting up of both the SDS in Pakistan in September 27, 2018. OID, FED, RBI had accorded its post-facto approval for the SDS - ‘’Dabur Pakistan (Pvt) Ltd’’, on May 31, 2019. Thus the transactions related to setting up and reporting of SDSs were regularized and administrative action was complete, subject to compounding. | (i) 531,76,651 (ii) 31,27,500 (iii) 31,27,500 | 532,593 | |
| 2.372 | Gemini Power Hydraulics Private Limited | Jan/2020 | ODI | FEMA 120/RB-2004 | Delay in reporting | (i) 1 months to 6 years (ii) 17 days | (i) delay in submission of Annual Performance Reports (ii) delay in repatriation of disinvestment proceeds | The company is engaged in the business of trading in engineering equipment and machines. The applicant set up a wholly owned subsidiary (WOS), namely Gemini Intertrade Pte. Ltd., in Singapore, on January 14, 2008. The name of the WOS was changed to Rainbow Intertrade Pte. Ltd. on February 27, 2008. It disinvested and closed down the WOS on September 30, 2017 while the disinvestment proceeds amounting to USD 8061 (INR 5,14,131) were repatriated only on January 16, 2018, beyond the stipulated time period of 90 days, thereby contravening Regulation 16(2) of FEMA 120/2004-RB. Further the APRs for the years ending 2008 to 2017 were submitted with a delay beyond the stipulated time period | 514,131 | 142,571 | |
| 2.373 | M/s Floris Resorts Private Limited | Jan/2020 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 0Y 0M 5D to 0Y 0M 21D (ii) 0Y 4M 17D (iii) 0Y 1M 23D | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of form FCGPR to the Reserve Bank, after issue of shares to a person resident outside India (iii) Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the inward remittance | Its main activities are Hotels and Motels, inns, resorts providing short term lodging facilities; includes accommodation | (i) 95,29,364 (ii) 176,11,900 (iii) 30,38,400 | 82,852 | |
| 2.374 | Rubal Bansal | Jan/2020 | ODI | FEMA 120/RB-2004 | contravention of regulation 5(1) of FEMA 120/2004-RB | 7 years and 11 months | Setting up of an overseas entity by resident individual before August 05, 2013, in contravention of Regulation 5(1) | The applicant, a resident individual, remitted SGD 14,500 (Rs 5,52,668/-) on September 09, 2011 towards setting up of an overseas wholly owned subsidiary (WOS). The overseas WOS, Ocean Overseas Pte Ltd was incorporated on September 12, 2011 as a company with an object of undertaking activities related to shipping lines. The remittance was sent when the applicant was not permitted to undertake overseas direct investment. ODI by resident individuals was permitted vide Notification No.FEMA.263/RB-2013 dated March 5, 2013, effective from August 5, 2013, which was an amendment to Notification No. FEMA 120/2004-RB. The investment was thus in contravention of regulation 5(1) of FEMA 120/2004-RB. The applicant later disinvested the entire stake in favour of an Indian Party Bansal Ship Breakers Limited (‘’BBSL”) on May 07, 2013 under automatic route. | 552,668 | 54,145 | |
| 2.375 | Mr. Nishanth Reddy Jakkula | Jan/2020 | FDI | FEMA 20/2000-RB | Delay in reporting | 27 days | delay in submission of form FCTRS | There was a transfer of 4,999 shares of M/s Unislink Private Limited on July 08, 2016 from Resident, Shri. Ramani Reddy Jakkula to Non-Resident Company M/s Econoserve Solutions LLC. The applicant has filed form FC-TRS with a delay | 64,987 | 10,083 | |
| 2.376 | M/s. Slayback Pharma India LLP | Jan/2020 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 years 5 months 29 days (ii) 1 years 6 months | (i) Delay in reporting of receipt of foreign inward remittance for capital contribution (ii) Delay in filing of Annual return on Foreign Liabilities and Assets (FLA) | The applicant is a Limited Liability Partnership (LLP) (LLPIN – AAI-8691), incorporated on March 17, 2017, with Slayback Pharma LLC represented by Mr. Ajay Kumar Singh and Mr. Gyan Ranjan Singh as “Designated Partners”. Subsequently, LLP deed was reconstituted and Mr. Sowmen Sushil Kumar Porel was added as “Designated Partner”. The applicant reported receipt of remittance towards share subscription with delay. Also, the applicant delayed in filing FLA Return. | 321,150 | 22,500 | |
| 2.377 | Smt. Ramani Reddy Jakkula | Jan/2020 | FDI | FEMA 20/2000-RB | Delay in reporting | 27 days | delay in submission of form FCTRS | There was a transfer of 4,999 shares of M/s Unislink Private Limited on July 08, 2016 from Resident, Shri. Ramani Reddy Jakkula to Non-Resident Company M/s Econoserve Solutions LLC. The applicant has filed form FC-TRS with a delay. | 64,987 | 10,083 | |
| 2.378 | Sona BLW Precision Forgings Limited | Jan/2020 | ODI | FEMA 120/RB-2004 | Delay in reporting | (i) 8 days to 10 years and 8 months (ii) 8 months (iii) 2008 to 2014 and the years 2017 (iv) 14 days to 3 months (v) 9 years | (i) delay in filing Form ODI (ii) delay in receipt of share certificates (iii) delay in submission of Annual Performance Reports (APRs) (iv) nonrepatriation of interest due on loan (v) conversion of interest receivables into preference shares under ODI | The applicant had made overseas direct investment (ODI) to set up a wholly owned subsidiary (WOS) in Netherlands viz. ‘’Sona Holding B.V.’’ The applicant company had made seven remittances during 2008-2017 to its WOS, for which there was a delay in filing Form ODI. There was a delay of eight months in receiving the share certificate against one of its equity remittances to the WOS. Further, it had extended a loan to its WOS in Netherlands in 2009, on which interest was not received by the applicant company during 2009-10. Subsequently, since the WOS was unable to pay the interest on the loan, the accrued interest amount on the loan was converted into redeemable preference shares in August 31, 2010, without prior approval of the Reserve Bank. The applicant company had also delayed filing its APRs with respect to its WOS for the years from 2009 to 2015 and 2017. | (i) 162,79,14,988 (ii) 465,53,600 (iii) - (iv) 17,47,62,647 (v) 16,85,53,088 | 4,912,961 | |
| 2.379 | The Hindustan Times Limited | Jan/2020 | ODI | FEMA 120/RB-2004 | Delay in reporting | (i) 2000-2006 for HTBC Bermuda (ii) 2006 to 2018 for Go4i.com, Bermuda | delay in submission of Annual Performance Reports (APRs) | The applicant company had incorporated a WOS in Bermuda, “HTBC Bermuda’’ in February 2000, under overseas direct investment (ODI) from India. The filing of APRs for this WOS was delayed for the years 2000-2006. The WOS had invested in another company ‘’Go4i.com (Bermuda)’’, in April 2000, which became a Step down Subsidiary (SDS) to the applicant company. However, the applicant company disinvested from its WOS, “HTBC Bermuda’’ in March 2006. Post the disinvestment, the SDS became the direct subsidiary under ODI by the applicant company. APRs for this overseas entity were filed with a delay | 21,609,000 | 200,000 | |
| 2.380 | Vulcan Industrial Engineering Company Limited | Jan/2020 | ODI | FEMA 120/RB-2004 | Delay in reporting | (i) 2 years and 6 months to 4 years (ii) October 25, 2014 to January 01, 2019 (iii) APR for 2014 to 2018 | (i) Delay in submission of Form ODI for preincorporation charges capitalised and for other remittances, (ii) Non – reporting of changes in capital structure of overseas entity within the prescribed period (iii) Delay in submission of APRs for the years 20142018 | The company had made overseas direct investment (ODI) in a joint venture (JV), ’’M/s VA Mining Pty Ltd’’ in Australia, in March 2014. A sum of AUD 15000 which was initially remitted by the applicant company, was capitalized in the books of the JV in June 2014 and thereafter 10 remittances amounting to AUD 0.205 million were made during March- December 2015 towards equity, but the form ODI in respect of the ODI transactions were submitted with a delay. Subsequently, two resident Indians (RIs) had remitted AUD 155,898.92 in September 2014 in the overseas JV but the change in capital structure was not reported within the prescribed period. Further, the annual performance reports (APRs) for the years 2014-2018 were reported with a delay | (i) 108,37,724 (ii) 86,00,000 | 161,208 | |
| 2.381 | Macleods Pharmaceuticals Ltd | Jan/2020 | ODI | FEMA 120/RB-2004 | Delay in reporting | (i) May 3, 2011 to May 20, 2011, March 21, 2012 to Augut 23, 2018 and April 3, 2012 to Augut 23, 2018, repectively (ii) 2006 to 2018 for Go3 financial years 2012 and 2014 | (i) delayed submission of Form ODI Part I (ii) delayed submission of APRs for the years 2012 to 2014 | The applicant company engaged in the business of manufacturing of pharmaceutical formulations, was incorporated as Macleods Pharmaceuticals Private Limited. The applicant had set up a wholly owned subsidiary (WOS), viz., Macleods Pharmaceuticals Ltd. in Ukraine by making overseas direct investment of USD 25,980 on May 3, 2011. Subsequently two more remittances of USD 23,980 and USD 234.50 were made on March 21, 2012 and April 3, 2012, respectively. | 2,377,236 | 56,875 | |
| 2.382 | M/s Mahindra Defence Systems Limited | Jan/2020 | FDI | FEMA 20/2000-RB | Delay in reporting | 0Y 0M 15D to 0Y 1M 9D | Delay in filing Form FC GPR to Reserve Bank after issue of shares to person resident outside India | Its main activities are Design, development, manufacture, supply etc of all kinds of defence and non-defence systems. | 559 | 22,500 | |
| 2.383 | Michelle A. DCosta | Jan/2020 | FDI | FEMA 20/2000-RB | Delay in reporting | 805 days | The contravention sought to be compounded is delay beyond 60 days in submitting a report in Form Foreign Currency Transfer of Shares (FCTRS) to the Reserve Bank, through Authorised Dealer bank (AD bank) after receipt of amount of consideration towards transfer of shares by way of a sale from “a person resident in India” to “a person resident outside India” | The applicant has received one foreign inward remittance amounting to ₹12,64,180.76 from “a person resident outside India” viz. VSY Varlibaslar Saglik Yatrimlari Ve Hizmetleri Turizm Sanayi Ve Dis Ticaret Limited Sirketi, Turkey towards transfer of equity shares amounting to ₹12,64,200/- of VSY Opthalmic India Pvt. Ltd., Vadodara. The shortfall of ₹19.24 has been ignored. The applicant reported the transfer of shares from “a person resident in India” to “a person resident outside India” in Form FC-TRS to its Authorised Dealer bank with a delay of 805 days beyond the prescribed period of 60 days from the date of receipt of consideration | 126,418,076 | 15,625 | |
| 2.384 | M/s Aspect Contact Center Software India Private Limited | Jan/2020 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) twenty days to 12 years 10 months and 19 days (ii) 11 years 1 months and 6 days. | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in refund of share application money to the nonresident, beyond 180 days from the date of receipt of inward remittance | The company is engaged in the business of development, marketing and selling of all kind of software and computer hardware developed by its group companies. | (i) 609,75,000 (ii) 570,50,000 | 2,661,878 | |
| 2.385 | M/s Ather Energy Private Limited | Jan/2020 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 months 5 days to 1 years 9 months and 2 days (ii) 2 months 7 days to 3 months and 12 days (iii) 2 years and 10 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in refund of share application money to the nonresident, beyond 180 days from the date of receipt of inward remittance (iii) violation of pricing guidelines for issue of shares | The activity undertaken by the company is manufacturing of electrical automobiles. | (i) 132,22,935 (ii) 129,29,350.40 (iii) 234,039 | 79,764 | |
| 2.386 | M/s Centigo Consulting Private Limited | Jan/2020 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 months and 9 days to 1 years 11 months and 1 days (ii) 21 days to 2 months and 29 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of form FCGPR to the Reserve Bank, after issue of shares to a person resident outside India | The activity undertaken by the company is providing management consultancy services to its clients. | (i) 63,39,000 (ii) 109,27,500 | 25,500 | |
| 2.387 | M/s Cross Products (India) Private Limited | Jan/2020 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 7 days to 8 months 26 days (ii) 6 days to 8 months 28 days. (iii) 5 months 27 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of form FCGPR to the Reserve Bank, after issue of shares to a person resident outside India (iii) delay in allotment of shares after the receipt of inward remittance beyond the stipulated time period | The applicant is a company registered as a private limited company, incorporated on May 21, 2011 under the Companies Act, 2013 (erstwhile Companies Act, 1956) with the main object of undertaking the business of Industrial and Marine Engineering | (i) 95,27,204 (ii) 99,08,900 (iii) 71,59,400 | 92,219 | |
| 2.388 | M/s Dalmia Cement (Bharat) Limited | Jan/2020 | Export of Goods and Services | FEMA 23/2000-RB | Delay in repatriating the export proceeds within the stipulated period | 11 years | The contravention sought to be compounded pertain to failure in realizing the export proceeds (by the erstwhile OCL India Ltd.) within the stipulated time period. | The applicant company M/s Dalmia Cement (Bharat) Limited (the legal successor of M/s OCL India Limited, consequent upon a merger ordered by NCLT vide order dated 18.07.2019) is engaged in the business of export of refractory materials, cement, etc. The erstwhile M/s OCL India Limited was a ‘Star Export House’ engaged in the the business of export of refractory materials, cement, etc. had made exports under 13 different invoices between February 2008 to May 2012. It was not able to realize and repatriate the export proceeds pertaining to 13 invoices, within the stipulated time period of six months (applicable upto 03.06.2008) and twelve months (as applicable subsequently), thereby contravening the provisions of Regulation 9 of Notification No. FEMA 23/2000-RB dated May 03, 2000. | 3,922,447 | 79,419 | |
| 2.389 | M/s Demandfarm Solutions Private Limited | Jan/2020 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 2 months and 2 days to 6 months and twenty 3 days (ii) 5 years 26 days to 5 years 8 months and 6 days (iii) 3 months and 27 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in allotment of shares after the receipt of inward remittance beyond the stipulated time period (iii) delay in submission of form FCGPR to the Reserve Bank, after issue of shares to a person resident outside India | The company is engaged in the business of providing technology support, procurement, management, technical and developmental services in diverse areas to facilitate better account management within complex business to business services environments. | (i) 4,22,86,567.47 (ii) 12,60,967.37 (iii) 4,10,25,600 | 142,595 | |
| 2.390 | M/s Dropkaffe Food and Beverages Private Limited | Jan/2020 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 1 months and 14 days to 1 years 1 months and 26 days (ii) 1 years 4 months and 1 days to 2 years and 29 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of form FCGPR to the Reserve Bank, after issue of shares to a person resident outside India | The activity undertaken by the company is providing and supplying of various food and beverages items to customers as packaged items or through hotels, restaurants, etc. | (i) 99,99,040 (ii) 99,99,663.31 | 39,680 | |
| 2.391 | M/s ExpansionJS Technologies Private Limited | Jan/2020 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 87 days | The contravention sought to be compounded is delay in refund of excess share application money to a person resident outside India. | The company reported FCGPR061923447 for receipt of ₹ 3,69,826.53 on February 13, 2019 from Shri Justin L Brach, USA. The company issued 36,000 equity shares of ₹ 10/- each to Shri Brach. The value of equity shares allotted to the investor was ₹3,60,000 thereby resulting in excess share application money of ₹ 9,826.53. The company refunded ₹ 9826.53 to Shri Brach on July 25, 2019 with a delay of 87 days beyond stipulated time-period of 75 days from the date of receipt of inward remittance. Thus, there was contravention of paragraph 2(3) of Schedule 1 of FEMA Notification 20(R)/2017-RB dated November 7, 2017. | 982,591 | 500 | |
| 2.392 | M/s Ezeesmart Education Private Limited | Jan/2020 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 6 months and 3 days to 6 months and 6 days (ii) 25 days to 1 months | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of form FCGPR to the Reserve Bank, after issue of shares to a person resident outside India | The activity undertaken by the company is to provide high quality education by providing content and teachers online and offline. | (i) 2,60,00,000 (ii) 2,60,00,000 | 86,000 | |
| 2.393 | M/s GCE India Private Limited | Jan/2020 | FDI | FEMA 20/2000-RB & FEMA 20(R)/2017-RB | Delay in reporting | (i) 2 months 27 days to 2 years and 7 days (ii) 3 months and thirty days (iii) 4 months 21 days to 1 years 1 months and 10 days (iv) 1 years 10 months and twenty 3 days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in allotment of shares after the receipt of inward remittance beyond the stipulated time period (iii) delay in submission of form FCGPR to the Reserve Bank, after issue of shares to a person resident outside India (iv) delay in refund of excess share application money to the nonresident investor/persons resident outside India, beyond 75 days from the date of receipt of the inward remittance | The activity undertaken by the company is wholesale business of machinery, equipment and supplies. | 6,100,000 | 105,659 | |
| 2.394 | M/s Intello Labs Private Limited | Jan/2020 | FDI | FEMA 20/2000-RB & FEMA 20(R)/2017-RB | Delay in reporting | (i) 1 years 6 months and twenty-7 days to 1 years 8 months and 7 days (ii) 1 years 11 months and 9 days to 2 years 1 months and 7 days (iii) Financial years 2016-17 and 2017-18 | (i) allotment of shares prior to the receipt of amount of consideration, (ii) delay in submission of form FCGPR to the Reserve Bank, after issue of shares to a person resident outside India (iii) delay in filing the Annual Return on Foreign Liabilities and Assets. | The company is engaged in the business of developing user centric applications and technologies to be used in various domains like price comparison, travel and Internet of Things | (i) 6,98,607 (ii) 6,98,607 | 66,615 | |
| 2.395 | M/s JMT Consultants Detailing Private Limited | Jan/2020 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3 years 5 months and 25 days (ii) 4 years 4 months and 5 days to 4 years 5 months and twenty days | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of form FCGPR to the Reserve Bank, after issue of shares to a person resident outside India | The activity undertaken by the company is carrying out the business of steel detailing, steel fabrication, research and development relating to steel, structural steel design, structural engineering drawings and structures. | (i) 10,00,000 (ii) 9,99,990 | 32,420 | |
| 2.396 | M/s Kris Automated Packaging Systems Private Limited | Jan/2020 | FDI | FEMA 20/2000-RB | Delay in reporting | 8Y 3M 27D | Neither the equity instruments were issued, nor the money refunded to the foreign investor within 180 days from the receipt of the inward remittance | Its main activities are Supply of machinery, materials and service to customers engaged in Automotive, Electrical Parts, EWC, StationaryKits, DIY Kits, Medical, Health, Beauty Products, Hardware, Retail, E-Commerce Industry etc. | 1,757 | 14,638 | |
| 2.397 | M/s M56 Studios Technologies India Private Limited | Jan/2020 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 2 months and 8een days | The contravention sought to be compounded is allotment of shares to person resident outside India, prior to receipt of amount of consideration | The company is engaged in the business of writing, modifying and testing of computer program to meet the needs of its clients. | 100,000 | 2,164 | |
| 2.398 | M/s Packetpath Technologies Private Limited | Jan/2020 | FDI | FEMA 20(R)/2017-RB | Delay in reporting | 7 months and 26 days | The contravention sought to be compounded is allotment of shares to person resident outside India, prior to receipt of amount of consideration | The company is engaged in the business of providing technology services and products including various web services, internet products, development and marketing of business management software, building software applications and technology applications for computer and mobile phones. | 51,000 | 3,325 | |
| 2.399 | M/s Security Innovation India Private Limited | Jan/2020 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 3Y 1M 20D (ii) 3Y 6M 15D | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of form FCGPR to the Reserve Bank, after issue of shares to a person resident outside India | Its main activities are Computer, Buisness and Management Consultancy | (i) 100,000 (ii) 100,000 | 26,750 | |
| 2.400 | MyEcoSolar Energy Private Limited | Jan/2020 | FDI | FEMA 20/2000-RB | Delay in reporting | 794 days | The contraventions sought to be compounded pertain to delay in refund of share application money to the foreign investor | The applicant company was incorporated on March 28, 2014 under the Companies Act 2013.The applicant is engaged in the business of generating electric power using solar energy. | 304,773 | 46,829 | |
| 2.401 | Nithya Packaging Private Limited | Jan/2020 | ODI | FEMA 120/RB-2004 | Delay in reporting | (i) 3 days to 2 years and 9 months (ii) 2010 to 2015 (iii) 1 days to 5 years and 8 months (iv) 22 days to 5 years (v) 1 years and 3 months to 3 years | (i) delay in receipt of share certificates (ii) delay in submission of Annual Performance Reports (APRs) (iii) routing of remittances through banks other than the designated AD bank (iv) delay in submission of Form ODI (v) nonreporting of issuance of corporate guarantees under ODI | The applicant company was incorporated on March 29, 1996 (CIN U20231PY1996PTC001216) and is involved in manufacturing of craft paper and corrugated box. The company had made overseas direct investment (ODI) in May 2010 in its overseas wholly owned subsidiary (WOS) in Sri Lanka, namely ‘’M/s Nithya Paper and Boards Lanka Pvt Ltd’’. The company had delayed filing of Form ODI for this ODI and had also not reported the financial commitment undertaken through corporate guarantees issued in 2015. The company received share certificates for the ODI with a delay beyond the stipulated period of 6 months. The company had also delayed filing of the APRs for the years from 2011 to 2017. Further, the applicant company had undertaken remittance transactions under the ODI through banks other than the designated AD bank. The transactions were taken on record by RBI, subject to compounding and thus administrative action was complete. | (i) 21,91,38,641.70 (ii) 0 (iii) 28,70,24,281 (iv) 16,41,92,421.80 (v) 1,20,91,86,211 | 3,938,507 | |
| 2.402 | M/s Petnet Radiopharmaceutical Solutions Pvt Ltd | Jan/2020 | FDI | FEMA 20/2000-RB | Delay in reporting | (i) 6Y 10M 17D (ii) 7Y 6M 9D to 7Y 6M 19D | (i) Delay in reporting receipt of foreign inward remittance towards subscription to equity (ii) delay in submission of form FCGPR to the Reserve Bank, after issue of shares to a person resident outside India | Its main activities are Manufacture of other pharmaceutical and botanical products. | (i) 2,67,47,973 (ii) 2,67,47,980 | 798,083 | |
| 2.403 | William Scott Pinckney | Feb/2020 | Remittance of Assets | FEMA 13/2000-RB | remittance of assets beyond the stipulated limit | March 09, 2016 to september 05, 2019 | remittance of assets beyond the stipulated limit | The applicant, Mr. William Scott Pinckney is an Australian Citizen, who stayed in India for employment during the period from 1998 to 2015. During February 2015-April 2017, the applicant made multiple remittances to his (overseas) bank account in Australia. DoE initiated an investigation against the applicant in connection with the forex transactions undertaken by him and a show-cause notice (SCN) dated March 08, 2019 was issued to the applicant. DoE had stated that the applicant had remitted funds in excess of the prescribed limit, USD 1 mn, during the year 2015-16 and that the applicant had contravened Regulation 4(2) | 41,358,300 | 318,829 | |
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