Why a FEMA Review?
Companies and LLPs with foreign investment, overseas investment or foreign loans have to file many RBI forms – FC-GPR, FC-TRS, FLA, Form LLP-I and LLP-II, Form FC and APR, Form ECB and ECB-2. Missed or late filings are common and often come to light only during funding, due diligence or a bank’s query.
Our review checks your foreign investment history against the RBI and MCA records, lists the gaps and fixes them. Many delays can be regularised by paying a late submission fee; other contraventions can be settled by applying to the RBI for compounding under FEMA.
Your FEMA record, checked and fixed
- Filings reviewed
- Gaps fixed
- Compounding filed
Who Needs a FEMA Review?
- Companies raising a new funding round
- Startups facing investor due diligence
- Indian subsidiaries of foreign groups
- Companies that missed FC-GPR, FC-TRS or FLA filings
Benefits
Fewer surprises
Find gaps before investors or regulators do.
Lower penalties
Voluntary regularisation is usually cheaper than enforcement.
Faster funding
Clean records speed up due diligence.
Peace of mind
Know exactly where you stand.
Documents Required
- Share allotment and transfer history
- FIRCs and bank records of foreign remittances
- Copies of RBI filings made so far
- Financial statements for the relevant years
- Board and shareholder resolutions
Review and Compounding Process
Data collection
Foreign investment and borrowing history gathered.
Gap analysis
Filings checked against RBI and MCA records.
Fix with late fee
Missed reports filed with the late submission fee where allowed.
Compounding
Application to the RBI for contraventions that need compounding.
Closure
Compounding order complied with and records updated.
Common Mistakes to Avoid
- Ignoring old lapses – Contraventions do not go away on their own.
- Partial fixes – All related filings need to be corrected together.
- Wrong amounts in filings – Mismatches with MCA records cause new queries.
- Delaying compounding – Amounts can grow with the period of contravention.
Stay Compliant Going Forward
Compliance calendar
Track FLA, APR, ECB-2 and other due dates.
Process for new funding
Report each investment on time.
Annual check
Repeat the review before each funding round.
Board reporting
Keep the board informed of FEMA compliance.
Why Choose Vaidam Consultancy for FEMA Compliance Review
FEMA experts
We handle RBI FIRMS filings and the supporting documents.
Clear quote upfront
You receive our fee and all charges before we begin.
On-time reporting
Filed within the RBI time limit to avoid late submission fees.
Bank coordination
We work with your AD bank until the form is approved.
Frequently Asked Questions
A process to settle a contravention by paying an amount decided by the RBI, after which proceedings are closed.
Many can be filed with a late submission fee; others need compounding.
The RBI, based on the contravention, the amount involved and the period of delay.
Yes. Investors check FEMA compliance during due diligence.
It depends on the RBI; we prepare a complete application to avoid back-and-forth.