Constitution of National Advisory Committee on Accounting Standards under Section 210A of Cos Act 1956. Notification from 18-09-2014

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Under the section 210A of the Companies Act, 1956, the Central Government has been authorized to constitute a National Advisory Committee on Accounting Standards to advise the Central Government on the formulation and laying down of accounting policies and accounting standard s for adoption by companies or class of companies under the said Act.

Accordingly Ministry of Corporate Affairs has notified the formation of the committee wef 18-09-2014.

S No.	Name and Designation	Post	Clause of Section 210A(2) under which nominated
1	Shri Amarjit Chopra, Chartered Accountant	Chairman	210A(2)(a) A Chairperson who shall be a person of eminence and well versed in accountancy, finance, business administration, business law, economics or similar discipline;
2	Dr. A.S. Durga Prasad President, Nominee of The Institute of Cost and Works Accountants of India	Member,	210A(2)(b) One member each nominated by the Institute of Chartered Accountants of India the Institute of Cost and Works Accountants of India, and the Institute of Company Secretaries of India
3	Shri R. Sridharan, President, Nominee of The Institute of Company Secretaries of India	Member,
4	CA. K. Raghu, President, Nominee of The Institute of Char1ered Accountants of India	Member,
5	Joint Secretary, Ministry of Corporate Affairs	Member,	210A(2)(c) One representative of the Central Government to be nominated by it
6	Shri Sudarshan Sen, Chief General Manager-in-Charge Nominee of Reserve Bank of India	Member,	210A(2)(d) O ne representative of the Reserve Bank of India to be nominated by it;
7	Shri P Sesh Kumar, Director General (Commercial), Nominee of Comptroller and Audi tor General of India	Member,	210A(2)(e) One representative of the Comptroller and Auditor-General of India to be nominated by him
8	Prof. I.M Pandey, Ex-faculty Indian Institute of Management, Ahmedabad.	Member,	210A(2)(f) A person who holds or has held the office of professor in accountancy, finance or business management in any university or deemed university;
9	Joint Secretary, Tax Policy Law-II, Nominee of Central Board of Direct Taxes.	Member,	210A(2)(g) The Chairman of the Central Board of Direct Taxes constituted under the Central Boards of Revenue Act, 1963 (54 of 1963) or his nominee
10	Shri Rostow Ravanan, Nominee of Confederation of Indian Industry	Member,	210A(2)(h) Two members to represent the chambers of commerce and industry to be nominated by the Central Government
11	Shri Adesh Gupta, Nominee of Federation of Indian Chambers of Commerce and Industry	Member,
12	Dr. Ashok Haldia, Nominee of Associated Chambers of Commerce and Industry of India	Member,
13	Shri S. Ravindran, Executive Director, Nominee of Securities Exchange Board of India.	Member,	210A(2)(i) One representative of the Securities and Exchange Board of India to be nominated by it

Sub section (2) to section 210A provides for the constitution of the committee which shall consist of total 12 members from the fields/body as prescribed including the chairman. However 13 members have been notified by the Government under this notification as under:

It has bee provided that the Chairman and members shall hold office for a period of one year from the date of publication of this notification in the Official Gazette or till the constitution of National Financial Reporting Authority under section 132 of the Companies Act, 2013.

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