New Delhi, Feb. 11 -- The Reserve Bank of India (RBI) has issued a compounding order in the case of Deccan Digital Networks Private Limited, resulting in the termination of proceedings against the company for alleged contraventions of provisions under the Foreign Exchange Management Act (FEMA), the Enforcement Directorate (ED) said on Wednesday.
The ED stated that the order was passed by the RBI after the Directorate of Enforcement issued a "No Objection" for the compounding of the offences.
In this case, based on credible information received, the ED initiated an investigation under the provisions of FEMA. After completion of the investigation, the ED filed a complaint before the Adjudicating Authority against Deccan Digital Networks Pri...