🔹 1. Access the PRAVAAH Portal

• Visit the PRAVAAH portal.
• Register your entity by providing necessary details such as:
  • Entity Name
  • PAN
  • CIN
  • Authorized Person’s Contact Information

🔹 2. Initiate a New Application

• After logging in, navigate to the “Compounding of Contraventions” section.
• Click on “New Application” to start the process.

🔹 3. Fill in Application Details

Provide comprehensive information, including:

• Nature of Contravention: Specify the exact violation (e.g., delayed filing of Form FC-GPR).
• Transaction Details: Include dates of receipt of funds, share allotment, amounts involved, etc.
• Reasons for Contravention: Clearly explain the circumstances leading to the violation.
• Rectification Measures: Detail the steps taken to rectify the contravention.

🔹 4. Upload Supporting Documents

Prepare and upload necessary documents such as:

• Board and Shareholder Resolutions
• Valuation Certificate
• FIRC and KYC Documents
• Filed Forms (e.g., FC-GPR)
• Memorandum and Articles of Association (MOA & AOA)
• Share Certificates
• Bank Statements Showing Fund Receipt

Ensure all documents are in the prescribed format and size as specified by the portal.

🔹 5. Pay the Application Fee

• The application fee is ₹5,000.
• Payment can be made through the portal using the available payment options.
• Retain the payment receipt for your records.

🔹 6. Submit the Application

• Review all entered information and uploaded documents.
• Submit the application through the portal.
• Upon submission, you will receive an Application Reference Number (ARN) for tracking purposes.

🔹 7. Respond to RBI Queries

• The RBI may seek additional information or clarification.
• Promptly respond to any queries through the portal to avoid delays.

🔹 8. Receive and Comply with the Compounding Order

• If the application is accepted, the RBI will issue a Compounding Order detailing the penalty amount.
• Pay the penalty within the stipulated time frame (usually 15 days).
• Upload proof of payment through the portal.

📌 Important Notes

• Timely Rectification: Ensure that the contravention is rectified before applying for compounding.
• Accurate Information: Provide precise and truthful information to avoid complications.
• Professional Assistance: Consider consulting with professionals specializing in FEMA regulations for guidance.

If you need assistance with drafting the compounding application or have specific queries related to your case, feel free to ask.