Latest Universal Biofuels Private Limited News & Updates

RBI Issues Compounding Orders under FEMA for Joinmay Electronic and Universal Biofuels

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Mumbai, June 9 (IANS) The Reserve Bank of India (RBI) has issued compounding orders under Section 15 of Foreign Exchange Management Act, 1999 (FEMA), in the separate cases of Joinmay Electronic Private Limited and Universal Biofuels Private Limited, which has resulted in the termination of investigation against the two companies for contraventions of provisions of the act, according to a press statement issued by the Directorate of Enforcement (ED).The order in each case has been passed by the R…