Govt Appoints New Chairperson and Members to NFRA for Three-Year Tenure Period

Govt Appoints New Chairperson and Members to NFRA for Three-Year Tenure Period

The Ministry of Corporate Affairs (MCA) has recently issued an official notification [F. No. NFRA-05/4/2024-NFRA-MCA], dated August 27, 2025, announcing that the Central Government has made appointments of certain officers in the National Financial Reporting Authority (NFRA) at the positions of Chairperson, Full-Time Member, Full-Time Member, and Full-Time Member.

The government has performed this action in exercise of its powers granted under sub-section (3) of section 132 of the Companies Act, 2013 (18 of 2013). These appointments were scheduled to take effect from July 23, 2025, (forenoon), meaning that currently these officers have already taken their roles. It was the date on which they were legally allowed to enter their respective offices. Tenure period is scheduled for three years or till the officer attains the age of sixty-five years, whichever is earlier. Hence, if someone’s age turns 65 years before the period of three years, their service will end there only.

The following are the made appointments:

(1) Shri Nitin Gupta, Chairperson;

(2) Ms Smita Jhingran, Full-Time Member;

(3) Shri P. Daniel, Full-Time Member;

(4) Shri Sushil Kumar Jaiswal, Full-Time Member

The salaries, perks, working conditions, and other service rules of the selected officers in NFRA will depend on the National Financial Reporting Authority (Manner of Appointment and other Terms and Conditions of Service of Chairperson and Members) Rules, 2018.

Refer to the official notification for complete information.