MCA Updates NFRA Part-Time Member Appointments

Notification G.S.R. 42(E); Dated: 13.01.2026

1. Introduction

Ministry of Corporate Affairs (MCA) has notified amendments to the rules governing the appointment of part-time members of the National Financial Reporting Authority (NFRA).

2. Amendment To NFRA Appointment Rules

The MCA has issued the NFRA Appointment of Part-time Members (Amendment) Rules, 2025, amending the rules notified in 2022. The amendment substitutes the entries specified in Rule 2 of the principal rules.

3. Updated List Of Part-Time Members

As per the amendment, the revised list of NFRA part-time members includes:

• Shri Balamurugan D, Joint Secretary, MCA
• Shri Anand Mohan Bajaj, Deputy Comptroller and Auditor General of India
• Ms. Sudha Balakrishnan, Chief Financial Officer, Reserve Bank of India
• Shri Jeevan Sonparote, Executive Director, Securities and Exchange Board of India

4. Institutional Representation

The revised composition ensures representation from key regulatory and oversight institutions, including the MCA, CAG, RBI, and SEBI, supporting coordinated supervision over audit and financial reporting standards.

5. Conclusion

The revision of NFRA’s part-time membership reflects MCA’s efforts to keep the Authority’s composition current and representative. The updated appointments are expected to strengthen NFRA’s role in audit quality oversight and financial reporting regulation in India.

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