HEG Limited’s subsidiary, Bhilwara Infotechnology Limited (BIL), faced a compounding fee of ₹43,550 due to a delay in reporting Form FC-GPR. The delay was related to the allotment of merger shares and was attributed to oversight and unawareness of FEMA provisions. The order, dated December 11, 2025, involves a compounding application for contravention of FEMA regulations.
Compounding Fee for Reporting Delay
Bhilwara Infotechnology Limited (BIL), a subsidiary of HEG Limited, has been subject to a compounding fee levied by the Foreign Exchange Department, Reserve Bank of India, New Delhi. The fee is associated with a delay in reporting Form FC-GPR.
Details of the Matter
The matter pertains to a Compounding Application concerning contravention of Para 9(1) (B) of Schedule I of FEMA 20/2000-RB. This contravention is specifically related to a delay in reporting of Form FC-GPR by Bhilwara Infotechnology Limited. The delay relates to the application for compounding, which was filed pursuant to Foreign Exchange (Compounding Proceedings) Rules, 2024. The issue concerns a delay in reporting FC-GPR after the allotment of merger shares.
The company has attributed the reporting delay to oversight and a lack of awareness regarding the provisions of FEMA. Consequently, a compounding fee of ₹43,550 (Rupees Forty-Three Thousand Five Hundred and Fifty Only) has been levied.
Order Details
The order, referenced as Order No. CA No. NDL 1374/2025, is dated December 11, 2025. It was received on December 11, 2025, at 05:05 Р.М.
Financial Impact
HEG Limited has stated that there is no material impact on the financial, operational, or other activities of the Company as a result of this matter.
Source: BSE
