MCA notifies National Financial Reporting Authority

MCA notifies National Financial Reporting Authority : Taking a step further, in direction of establishment of NFRA, theMinistry of Corporate

CA Deepak Gupta

Mar 22, 2018

Last update on Mar 22, 2018

MCA notifies National Financial Reporting Authority : Taking a step further, in direction of establishment of NFRA, theMinistry of Corporate Affairs has taken below mentioned steps. The Ministry of Corporate Affairs has notified provisions of Sub-section (3) & (11) of Section 132 of Company Act 2013.

Please click on the below mentioned link to download the notification.

Commencement Notification of NFRA

Section 132 of company Act 2013 deals with Constitution of National Financial Reporting Authority.
Subsection 3 of Section 132 institutes that the NFRA shall have a chairperson & full time employed members who shall be appointed as per prescribed rules.
The prescribed rules for their appointment have also been notified.
Subsection 11 of section 132 which states that "the Central Government may appoint a secretary and such other employees as it may consider necessary for the efficient performance of functions by the National Financial Reporting Authority under this Act and the terms and conditions of service of the secretary and employees shall be such as may be prescribed" has also been notified.

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