FEMA Compounding application not maintainable post completion of adjudication

Sanjay Jhunjhunwala Vs Reserve Bank of India & Ors. (Calcutta High Court) Calcutta High Court held that compounding application under Foreign Exchange Management Act, 1999 cannot be maintained post completion of adjudication process. Accordingly, appeal failed and hereby dismissed. Facts- The present appeal challenges an order passed by a learned Single Judge on 1st April, 2025, dismissing the Writ Petition filed by the appellant herein. The primary prayer in the Writ Petition was that the writ petitioner be permitted to renew the compounding application made by him, thereby quashing the r...