In exercise of the powers conferred by sub section 1 of section 22A of the Chartered Accountants Act

## Report on Amendment to Corporate Affairs Notifications Regarding Chairperson Appointment **1. Executive Summary:** This report analyzes a notification issued by the Ministry of Corporate Affairs on June 15, 2021. The notification is an amendment to a prior notification (G.S.R. 835E, dated November 3, 2015) concerning the composition of a body established under the Chartered Accountants Act, 1949, the Cost and Works Accountants Act, 1959, and the Company Secretaries Act, 1980. The core purpose of this specific amendment is to change the designated Chairperson. The key finding is that Shri Justice Shashi Kant Gupta (Retd. Judge, High Court of Allahabad) has been appointed as the new Chairperson. **2. Introduction:** The purpose of this report is to provide an informative analysis of the Ministry of Corporate Affairs notification dated June 15, 2021, based solely on the provided text. This report will focus on understanding the changes introduced by this amendment and its likely implications. **3. Policy Overview:** * This notification is an amendment to the Government of India, Ministry of Corporate Affairs notification vide number G.S.R. 835E, dated the 3rd November, 2015. * **Core Objective(s) (Inferred):** Based on the Acts mentioned (Chartered Accountants Act, 1949, Cost and Works Accountants Act, 1959, and Company Secretaries Act, 1980) and the nature of the amendment (appointment of a Chairperson), the core objective of the original policy likely pertains to the establishment and governance of a body responsible for overseeing or regulating these professions. **4. Background and Rationale:** The amendment appears to be driven by a need to change the leadership of the aforementioned body. The previous incumbent is being replaced by Shri Justice Shashi Kant Gupta. While the *specific* reason for the change is not stated in the provided text, it can be inferred that it relates to the need for a new Chairperson, potentially due to retirement, resignation, or other administrative reasons. **5. Key Provisions / Changes:** * **Specific Part of Original Policy Changed:** The amendment directly modifies the entry against serial number 1 in the original notification (G.S.R. 835E, dated November 3, 2015). * **New Rule/Provision:** The entry "Shri Justice Shashi Kant Gupta, Chairperson. Judge Retd. High Court of Allahabad, Allahabad" is substituted for the previous entry. * **Difference/Effect of the Change:** This amendment replaces the previous Chairperson with Shri Justice Shashi Kant Gupta. This means the named individual is now responsible for chairing the relevant body established under the Chartered Accountants Act, Cost and Works Accountants Act, and Company Secretaries Act. The new Chairperson brings their experience as a retired Judge of the High Court of Allahabad to the role. **6. Target Audience and Stakeholders:** The primary target audience and stakeholders directly affected by this change are: * The members and staff of the body overseen by the Chairperson. * Chartered Accountants, Cost and Works Accountants, and Company Secretaries, who are subject to the regulations and oversight of the body. * The Ministry of Corporate Affairs. **7. Implementation Aspects (Inferred):** * **Responsible Agency/Bodies:** The Ministry of Corporate Affairs is the responsible agency for issuing this notification. The body that the Chairperson will lead is implicitly responsible for implementing the changes within its structure and operations. * **Timelines/Procedures:** The notification states that "This notification shall come into force on the date of its publication in the Official Gazette," which is June 15, 2021. There are no other specific timelines or procedures outlined in the provided text. * **Implementation related specifically to the changes**: The change of the chairperson is effective from the date of publication of the notification. This may require internal communication and handover processes within the body governed by the chairperson. **8. Expected Outcomes / Impact of Changes:** The intended outcome of this amendment is to ensure continued and effective leadership of the body by appointing a new Chairperson. The appointment of a retired High Court Judge suggests an emphasis on legal expertise and impartiality in the body's operations. This could lead to: * Continued efficient functioning of the organization. * A potential shift in the body's focus or priorities based on the new Chairperson's expertise and perspective. **9. Conclusion:** The notification issued by the Ministry of Corporate Affairs on June 15, 2021, represents an amendment to a prior notification regarding the Chairperson of a key regulatory body. The amendment appoints Shri Justice Shashi Kant Gupta as the new Chairperson, effective from the date of publication. This change is significant as it ensures continued leadership and potentially brings a new perspective to the body's operations, likely affecting the functioning and oversight of the Chartered Accountants, Cost and Works Accountants, and Company Secretaries professions.

Key Entities Referenced