To avoid legal battles, ED settles 150 Fema cases with RBI nod

The Enforcement Directorate is opting for large-scale compounding of Foreign Exchange Management Act (Fema) cases, with the Reserve Bank of India's approval, to expedite resolutions and avoid lengthy legal battles. Over 150 Fema cases have been terminated in the past 15 months following "no-objection certificates" from the ED. This approach, involving penalty payments, aims to foster a more facilitative business environment in India.

By PRADEEP THAKUR