Legal14 Oct 2026, 06:20 pm
Varroc Engineering fined ₹3.91 Lakhs by RBI for FEMA violation
AI Summary
Varroc Engineering Ltd has received a compounding order from the Reserve Bank of India (RBI) for a delay in repatriating dues receivable from a foreign entity. The company had applied for compounding of contraventions under the Foreign Exchange Management Act, 1999 (FEMA). The RBI has imposed a compounding amount of ₹3,91,000/-. The company stated that, apart from this compounding amount, there is no material impact on its financial, operational, or other activities.
Key Highlights
- RBI imposed a compounding amount of ₹3,91,000/-.
- Violation pertains to delay in repatriation of foreign dues.
- No material impact on financial or operational activities.
- Disclosure made as per SEBI LODR Regulations.
Price Impact
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