New Delhi, June 18 (IANS) The Reserve Bank of India (RBI) has issued compounding orders under Section 15 of the Foreign Exchange Management Act, 1999 (FEMA) against Sai Rayalaseeema Paper Mills and Cigniti Technologies Limited, which resulted in the termination of proceedings against the two companies for the contraventions under FEMA with one-time payments as fines, according to an ED statement.The orders have been passed by the apex bank after issuance of “No Objection” by the Directorate of E…
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