The Indian government has appointed Ravneet Kaur, current chairman of the India competition committee, as an acting president of the National Financial Regulatory Authority (NFRA) for a period of three months from April 1, 2025.
This decision comes after the mandate of the previous chief of the NFRA, Ajay Bhushan Pandey, concluded on March 31, reported the PTI news agency.
Kaur is the fifth president of the CCI.
She worked on anti -competitive driving in various sectors, including pharmaceuticals, cars, media and entertainment and aviation.
In her new role in NFRA, she will focus on the regulation of audit firms for listed companies.
The NFRA, created on October 1, 2018 under the law on companies, 2013, is currently sailing in legal challenges concerning the separation of its examination and disciplinary functions.
The Supreme Court has made a provisional order allowing the NFRA to continue its surveys when reporting reports of audit quality have not been prepared, and the final orders are pending.
The history of Kaur include roles as a joint secretary of the Department of Policy and Industrial Promotion, President and Managing Director of India Tourism Development Corporation and principal secretary in various departments of the Punjab government.
She also held positions in financial services, economic affairs and disinvestment services and has been associated with several organizations such as Punjab Communications, Exim Bank and India Infrastructure Finance Company.
His international experience includes work as an international Food Policy Research Institute in Washington DC and as a Hubert H Humphrey scholarship holder at Cornell University in the United States.
The appointment occurs both as Big Five audit firms in India have recently raised concerns Operational methods of the NFRA, suggesting potential conflicts with the 2013 companies law.
These companies have highlighted problems with the NFRA executive body carrying out both examination actions and disciplinary actions, which they say, could affect neutrality and objective evaluation.
“The Indian government appoints Ravneet Kaur as an interim president of the NFRA” has been created and published by The accountantA brand belonging to GlobalData.
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