Indian government appoints Ravneet Kaur as interim NFRA chair

1 week ago 6

Unlock banal picks and a broker-level newsfeed that powers Wall Street.

GlobalData

Mon, Apr 7, 2025, 3:36 AM 2 min read

The Indian authorities has appointed Ravneet Kaur, existent chairperson of the Competition Commission of India, arsenic the interim chairperson of the National Financial Regulatory Authority (NFRA) for a three-month play starting from 1 April 2025.

This determination comes aft the word of the erstwhile NFRA main Ajay Bhushan Pandey concluded connected 31 March, reported quality bureau PTI.

Kaur is serving arsenic the 5th chairperson of the CCI.

She has worked connected anticompetitive behaviour wrong assorted sectors, including pharmaceuticals, automobiles, media and entertainment, and aviation.

In her caller relation astatine NFRA, she volition absorption connected the regularisation of audit firms for listed companies.

The NFRA, established connected 1 October 2018 nether the Companies Act, 2013, is presently navigating done ineligible challenges concerning the separation of its reappraisal and disciplinary functions.

The Supreme Court has issued an interim bid permitting NFRA to proceed its investigations wherever audit prime reappraisal reports person not been prepared, and last orders are pending.

Kaur's inheritance includes roles arsenic associated caput successful the section of concern argumentation and promotion, chairperson and managing manager of India Tourism Development Corporation, and main caput successful assorted departments of the Government of Punjab.

She has besides held positions successful fiscal services, economical affairs, and disinvestment departments and has been associated with aggregate organisations specified arsenic Punjab Communications, Exim Bank, and India Infrastructure Finance Company.

Her planetary acquisition includes moving arsenic a advisor with the International Food Policy Research Institute successful Washington DC and arsenic a Hubert H Humphrey Fellow astatine Cornell University successful the US.

The assignment comes astatine a clip arsenic the Big Five audit firms successful India have precocious raised concerns astir NFRA's operational methods, suggesting imaginable conflicts with the Companies Act 2013.

These firms person highlighted issues with the NFRA's enforcement assemblage performing some reappraisal and disciplinary actions, which they judge could impact neutrality and nonsubjective assessment.

"Indian authorities appoints Ravneet Kaur arsenic interim NFRA chair" was primitively created and published by The Accountant, a GlobalData owned brand.

The accusation connected this tract has been included successful bully religion for wide informational purposes only. It is not intended to magnitude to proposal connected which you should rely, and we springiness nary representation, warranty oregon guarantee, whether explicit oregon implied arsenic to its accuracy oregon completeness. You indispensable get nonrecreational oregon specializer proposal earlier taking, oregon refraining from, immoderate enactment connected the ground of the contented connected our site.