MCA | Members advised to file Form NFRA-2 Annual Return as prescribed under Rule 3 (1) of NFRA Rules, 2018

Last updated: 03 March 2022

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The Institute of Chartered Accountants of India (ICAI) is reminding its members of the crucial requirement to file the Form NFRA-2 Annual Return. This is mandated under Rule 3(1) of the NFRA Rules, 2018. The National Financial Reporting Authority (NFRA) has compiled a database of companies and their auditors as of 31st March 2021, which is available on the NFRA website. Members are urged to refer to this database and ensure timely compliance.

Corporate Laws & Corporate Governance Committee
The Institute of Chartered Accountants of India
2nd March, 2022

ANNOUNCEMENT

Sub: Regarding referring the Database of Companies and Auditors under NFRA domain as on 31st March, 2021 as prescribed by the Central Government under Rule 3 (1) of NFRA Rules, 2018 and Advise to file Form NFRA-2- Annual Return.

We would like to inform you that National Financial Reporting Authority (NFRA) has prepared a database as of 31st March, 2021 of companies prescribed by the Central Government under Rule 3 (1) of NFRA Rules, 2018. This database also contains the details of statutory auditors of such companies based on the data sources currently available with NFRA. We request you to refer the database available at https://nfra.gov.in/

File NFRA-2 Annual Return: ICAI Advises Members

This is to mention here that Primary Source of this data is from master data of companies in Ministry of Corporate Affairs (MCA) database, i.e., MCA 21. Companies reported as ‘Listed’ in MCA 21 are reconciled (Refer Worksheet ‘Listed Co Worksheet’) with the list of companies obtained from the Three (3) recognized National Stock Exchanges which are currently active viz., BSE, NSE, and MSE. Further companies with ‘Inactive’ status in MCA database are excluded from the numbers given in the list. Listed Insurance, and Banking Companies are excluded from this line as those are included as part of companies under clause 3(1) (c).

An announcement on ICAI website and ICAI Journal dated 28th October, 2021 and an Announcement and Mail dated 07th May, 2021 have already been served to the Practicing Members advising them to file the form NFRA-2 for the FY 2018-19 and FY 2019-20.

In this regard, members are hereby advised to comply with the important compliance requirement of the Companies Act 2013 i.e., filing of annual requirement viz. NFRA 2, prescribed under Rules, 2018.

For more details, please visit https://eformnfra2.nic.in/

With Warm Regards,

Chairperson and Vice-Chairperson
Corporate Laws & Corporate Governance Committee
The Institute of Chartered Accountants of India

FAQ :

Members are advised to file Form NFRA-2, which is the Annual Return prescribed under Rule 3(1) of the NFRA Rules, 2018.

The advisory has been issued by the Corporate Laws & Corporate Governance Committee of The Institute of Chartered Accountants of India (ICAI).

The NFRA database, as of 31st March 2021, contains details of companies prescribed under Rule 3(1) of the NFRA Rules, 2018, and their statutory auditors.

The NFRA database can be accessed on the official NFRA website at https://nfra.gov.in/

The primary source of the data is the master data of companies from the Ministry of Corporate Affairs (MCA) database, specifically MCA 21.

Yes, previous announcements were made on the ICAI website and journal on 28th October 2021, and via email on 7th May 2021, advising members to file Form NFRA-2 for FY 2018-19 and FY 2019-20.

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