New Delhi: The Reserve Bank of India (RBI) has issued a compounding order under the Foreign Exchange Management Act (FEMA), 1999, in the case of Genpact India Private Limited, leading to the termination of enforcement proceedings against the company, the Enforcement Directorate (ED) said on Saturday.

The central bank passed the order under Section 15 of FEMA after receiving a ‘No Objection’ from the ED, effectively closing the case related to alleged violations of foreign exchange regulations.

According to an official statement, the ED had initiated an investigation under FEMA after receiving credible information regarding possible contraventions by the company. Following the probe, the agency filed a complaint before the Adjudicating Authority on October 16, 2018, citing regulatory lapses that were later compounded.

The violations included delayed reporting of foreign inward remittances under Paragraph 9(1)(A) of Schedule I of FEMA 20/2000-RB, involving an amount of ₹13.49 crore, and a delay in filing Form FCGPR after the issuance of shares under Paragraph 9(1)(B), amounting to ₹13.01 crore, the ED said.

As per FEMA provisions, adjudication proceedings were initiated through the issuance of a show-cause notice to the company and its directors or officers responsible for business operations during the period of the alleged contraventions.

Subsequently, Genpact India Private Limited applied to the RBI seeking compounding of the violations in accordance with Section 15 of FEMA. On referral from the central bank, the ED issued its no-objection certificate, facilitating the settlement process.

“Based on the no objection issued by the ED, the RBI compounded the contraventions through an order dated October 17, 2025, subject to a one-time payment of ₹4,72,490,” the ED said. The compounding order has resulted in the closure of adjudication proceedings against the company and its office bearers, bringing an end to further litigation under FEMA.

In a related development, the ED noted that the RBI had also issued a similar compounding order on Friday in the case of Nearbuy India Private Limited, leading to the termination of proceedings against that firm for alleged FEMA violations.

IANS