The Hindu·4 min read·hard
RBI compounds FEMA violations in Apothecon Pharmaceuticals case
T
The Hindu Bureau
✦AI Summary
The Reserve Bank of India has issued a compounding order for Apothecon Pharmaceuticals to resolve FEMA violations, leading to the closure of an Enforcement Directorate investigation. This process is intended to encourage voluntary compliance and reduce litigation.
The Reserve Bank of India (RBI) has issued a compounding order in the case of Apothecon Pharmaceuticals Private Limited, which has resulted into closure of investigation against the company by the Enforcement Directorate under the Foreign Exchange Management Act (FEMA).
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