The Company had earlier filed an application with the Reserve Bank of India vide dated April 10, 2017, to compound non-compliances on certain provisions of FEMA regulations as detailed in our prospectus dated June 21, 2017.
Currently, Reserve bank of India vide its letter dated September 6, 2017 disposed off the above said compounding matter on all earlier non-compliances by leaving a fees of Rs. 15,76,900/- (Rupees Fifteen Lakhs Seventy Six Thousand and nine hundred only). The above said fee has been paid by the Company on September 18, 2017 and the same is acknowledged by Reserve Bank of India vide its letter dated September 21, 2017.
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