What are the documents required for application for compounding under Foreign Exchange Management Act (FEMA), 1999 ?

Compounding refers to the process of voluntarily admitting the contravention, pleading guilty and seeking redressal. The Reserve Bank of India is empowered to compound any contravention as defined under section 13 of FEMA, 1999 except the contravention under section 3(a) for a specified sum after offering an opportunity of personal hearing to the contravener. The documents prescribed are given below: The application having details of applicant, nature of contravention and facts of the cases; The details of irregularities whether relating to Foreign Direct Investment, External Commercial Borrowings, Overseas Direct Investment and Branch Office/ Liaison Office, as applicable; Undertaking that the applicant is not under investigation of any agency such as DOE, CBI, etc. in order to complete the compounding process within the time frame; Mandate and details of their bank account.