Consider the following pairs regarding key mechanisms and instruments under the Foreign Exchange Management Act (FEMA), 1999 and related cross-border enforcement frameworks:

Pairs

1. Round-tripping of funds — Routing money out of India through overseas entities and back into India to disguise its true origin or ownership, constituting a FEMA violation
2. Foreign Currency Convertible Bonds (FCCBs) — Debt instruments issued in foreign currency that are convertible into equity, regulated as external commercial borrowings under FEMA's capital account transaction framework
3. Enforcement Directorate's mandate under FEMA — Civil enforcement (seizure, attachment, adjudication) of foreign exchange contraventions, distinct from criminal prosecution under PMLA