In exercise of the powers conferred by section 29A of the Cost and Works Accountants Act,

## Report on Amendment to Notification under the Cost and Works Accountants Act, 1959 **1. Executive Summary:** This report analyzes a notification issued by the Ministry of Corporate Affairs on January 28, 2021, which amends a previous notification (S.O. 1693 E, dated October 3, 2007) related to the Cost and Works Accountants Act, 1959. The core purpose of this amendment is to update the list of members within the relevant framework by substituting entries for existing members. The key finding is that this amendment reflects a procedural update to maintain an accurate and current record of individuals involved in the operation of the Act. **2. Introduction:** This report aims to provide a comprehensive overview of the notification issued by the Ministry of Corporate Affairs on January 28, 2021 (S.O. 399E), based solely on the information contained within the provided policy text. The analysis focuses on understanding the changes introduced by this amendment and their potential impact. **3. Policy Overview:** * This notification is an amendment to the Government of India, Ministry of Corporate Affairs notification S.O. 1693 E, dated the 3rd October, 2007. * The core objective of the original policy, inferred from the fact that this amendment involves specific member names, is likely to establish and maintain a formal listing of individuals in specific positions of responsibility related to the implementation and oversight of the Cost and Works Accountants Act, 1959. **4. Background and Rationale:** As an amendment, this notification likely addresses the need to update the existing member list due to changes in personnel. The substitution of entries for serial numbers 4 and 5 suggests that the previous individuals holding those positions have either been replaced or their roles have changed, necessitating an official update to the documented list. This ensures the accuracy and relevance of the information related to the Act's administration. **5. Key Provisions / Changes:** This amendment specifically changes the member list established by the original notification. * **Specific Part Changed:** Serial numbers 4 and 5 and the entries relating thereto in the original notification are being replaced. * **New Rule/Provision:** The following entries are substituted: * "4 CMA Kunal Banerjee, Member 5A, Nurulla Doctore Lane West Range, 2nd Floor, Kolkata700017." * "5 CMA Dr. A.S. Durga Prasad Member M.D. and CEO Propart Solutions India Private Limited 15133, New Maruthinnagar, Kothapeta, Hyderabad500035." * **Difference/Effect of the Change:** The amendment replaces the previous members listed under serial numbers 4 and 5 with the new individuals and their respective contact information and affiliations as specified above. This ensures that official records reflect the current members and their relevant details, likely for communication, regulatory, and administrative purposes. **6. Target Audience and Stakeholders:** Based on the text, the direct stakeholders impacted by this amendment include: * CMA Kunal Banerjee * CMA Dr. A.S. Durga Prasad * The Ministry of Corporate Affairs * Organizations and individuals who rely on the official member list for communication or compliance purposes related to the Cost and Works Accountants Act, 1959. This indirectly affects the Industry regulated under the act. **7. Implementation Aspects (Inferred):** * **Responsible Agency/Bodies:** The Ministry of Corporate Affairs is the responsible body for implementing this amendment. * **Timelines/Procedures:** The amendment is effective from the date of notification (January 28, 2021). No specific procedures are detailed within the provided text. **8. Expected Outcomes / Impact of Changes:** The intended outcome of these changes is to update the official member list for the Cost and Works Accountants Act, 1959. The impact of the amendment is primarily administrative, ensuring accurate records and facilitating communication with relevant individuals. The changes ensure that stakeholders can properly identify and contact the individuals currently holding positions of responsibility. **9. Conclusion:** The notification S.O. 399(E) represents an administrative update to the member list associated with the Cost and Works Accountants Act, 1959. It substitutes previous entries with current information for CMA Kunal Banerjee and CMA Dr. A.S. Durga Prasad. This amendment is significant for maintaining the accuracy of official records and facilitating efficient communication within the framework of the Act.

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