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ED okays compounding of FEMA violation case against online platform

The Enforcement Directorate has approved a Reserve Bank of India compounding order. This settles a year-long FEMA violation case against Nearbuy India Private Limited. The company will pay Rs 4.28 lakh to avoid prosecution. This move promotes ease of doing business. Petty FEMA violations will now be compounded to end frivolous litigation. Proceedings against the company have been terminated.

19 Dec 2025 10:35 pm