NEW DELHI: The Reserve Bank of India (RBI) has issued a compounding order on December 12, 2025, under section 15 of the Foreign Exchange Management Act (FEMA), 1999, in the case of Kakinada Seaports Limited, which has resulted in the termination of the proceedings against the company for alleged contraventions of provisions of FEMA, according to an Enforcement Directorate (ED) statement on Friday.
The order was passed by the RBl after issuance of a "no objection" certificate by the ED, the statement said.
Based on credible information received in the case, the ED carried out an investigation against the company under the provisions of the FEMA. After completing the investigation, the ED filed a complaint before the adjudicating authority on September 5, 2024, under Section 16 of the FEMA, pointing out various contraventions under the FEMA for which compounding has now been done.