MCA Amends Appointment of NFRA Part-Time Members Rules [Read Notification]

The Ministry of Corporate Affairs (MCA) has issued notification no. G.S.R. 42(E) dated 13 January 2026, informing about changes in the rules related to appointment of Part-Time Members of the National Financial Reporting Authority (NFRA). The notification was published in the Gazette of India and is effective from the date of publication.

Through this notification, the Central Government has used its power under section 132(3) of the Companies Act, 2013 to amend the National Financial Reporting Authority appointment of Part-Time Members Rules, 2022. The amended rules are called the NFRA appointment of Part-Time Members (Amendment) Rules, 2025.

The main aim of this amendment is to change the existing list of part-time members of NFRA. NFRA is a body which looks after matters related to accounting and auditing in the country.

As per the notification, four officials have been appointed as part-time members of NFRA. These members are from different government and financial bodies, which helps in better coordination and decision making.

• Shri Balamurugan D from Ministry of Corporate Affairs
• Shri Anand Mohan Bajaj from the office of Comptroller and Auditor General of India
• Ms. Sudha Balakrishnan from Reserve Bank of India (RBI)
• Shri Jeevan Sonparote from Securities andExchange Board of India (SEBI)

The notification also mentions that the NFRA Part-Time Members Rules were first issued in the year 2022 and have been amended many times after that. The last amendment before this one was made in August 2024.

This notification shows the government’s intention to improve the working of NFRA by bringing experienced officials as part-time members, so that the financial reporting and audit system in India can work in a better way.

Support our journalism by subscribing to Taxscan premium. Follow us on Telegram for quick updates