On August 13, 2024, the Ministry of Corporate Affairs (MCA) issued Notification No. G.S.R. 496(E), announcing amendments to the National Financial Reporting Authority (NFRA) Appointment of Part-Time Members Rules. These amendments, effective from the date of their publication in the official gazette, aim to strengthen NFRA's governance by refining the appointment process for part-time members.
In exercise of the powers conferred by sub-section (3) of section 132 of the Companies Act. 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the National Financial Reporting Authority appointment of Part-time members, Rules, 2022, namely: -
1. (1) These rules may be called the National Financial Reporting Authority appointment of part-time members (Amendment) Rules, 2024.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the National Financial Reporting Authority appointment of Part-time members, Rules, 2022, in rule 2, for serial numbers (8) and (9) and the entries relating thereto, the following serial numbers and entries shall be substituted, namely: -
"(8) Shri Sanjay Kallapur
(9) Professor R. Narayanswamy".
Official copy of the notification has been attached
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