Corporate News     16-Feb-18
Trigyn Technologies update on Compounding Order issued by RBI
Trigyn Technologies has filed an application for compounding of contraventions under Foreign Exchange Management Act, 1999 on 05 October 2017 pertaining to the legacy issues of the Company for delay in filing of Annual Performance Report (APR) and writing off of investments in Applisoft Inc., USA (a wholly owned subsidiary) without the prior approval of the RBI.

RBI issued compounding order dated 06 February 2018 compounding the contraventions under Foreign Exchange (Compounding Proceedings) Rules, 2000 on payment of the adjudicated amount. Thereby, as per the Compounding Order, the Company has deposited the compounded amount of Rs. 33,02,218/- (Rupees Thirty Three Lakh Two Thousand Two Hundred and Eighteen only) with RBI on 14 February 2018.

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