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Section 28A of the Chartered Accountants Act, 1949 deals with Establishment of ICAI Quality Review Board. In accordance of the provisions of section 28A  Central Government by notification No. G.S.R. 843(E) dated 30th November, 2021 appoints Ms. Shefali Shah as new Chairman of  ICAI Quality Review Board and Shri K. Saravanan and Ms. Ritika Bhatia as new members.  Full text of the Section 28A and notification No. G.S.R. 843(E) dated 30th November, 2021  is given below-

Section 28A. Establishment of Quality Review Board

(1) The Central Government shall, by notification,  constitute a Quality Review Board consisting of  a Chairperson and ten other members.

Govt notifies new chairperson & 2 members in ICAI Quality Review Board

(2) The Chairperson and members of the Board shall be appointed from amongst the persons of eminence having experience in the field of law, economics, business, finance or accountancy.

(3) Five members of the Board shall be nominated by the Council and other five members shall be nominated by the Central Government.

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MINISTRY OF CORPORATE AFFAIRS

NOTIFICATION

New Delhi, the 30th November, 2021

G.S.R. 843(E).—In exercise of the powers conferred by section 28A of the Chartered Accountants Act, 1949 (38 of 1949), the Central Government hereby makes the following further amendments in the notification of the Government of India in the Ministry of Corporate Affairs, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 38 (E), dated the 19th January, 2011 (said notification), namely:-

2. In the said notification, for serial numbers (1), (4) and (5) and the entries relating thereto, the following serial numbers and entries shall respectively, be substituted, namely:-

“(1) Ms. Shefali Shah, Indian Revenue Service (Retired), D-I/33, Rabindra Nagar, New Delhi-110003 Chairperson”;
“(4) Shri K. Saravanan, Chief General Manager, Corporation Finance Department, Securities and Exchange Board of India, SEBI Bhavan, Plot No. C4-A, ‗G‘ Block, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051 Member”; and
“(5) Ms. Ritika Bhatia, Director General (Commercial – II), Office of the Comptroller Auditor General of India, 9, Deendayal Upadhyaya Marg, New Delhi- 110124 Member”.

3. This notification shall come into force from the date of its publication in the Official Gazette.

[F. No. 1/15/2010-PI (Vol.-I)]

MANOJ PANDEY, Jt. Secy.

Note : The principal notification was published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-Section (i) vide number GSR 38(E), dated the 19th January, 2011 and subsequently amended vide numbers G.S.R. 684(E), dated the 16th September, 2011, G.S.R. 441(E), dated the 12th June, 2012, G.S.R. 486(E), dated the 21st June, 2012, G.S.R. 810(E), dated the 5th November, 2012, G.S.R. 131(E), dated the 1st March, 2014, G.S.R. 569(E), dated the 7th August, 2014, G.S.R. 837(E), dated the 24th November, 2014, G.S.R. 563(E), dated the 20th July, 2015, G.S.R. 744(E), dated the 30th September, 2015, G.S.R. 681(E), dated the 12th July, 2016, G.S.R. 376(E), dated the 17th April, 2017, G.S.R. 1155(E), dated the 30th November, 2018, G.S.R. 699(E), dated the 30th September, 2019, G.S.R. 312(E), dated the 26thMay, 2020, G.S.R. 431(E), dated the 7th July 2020 and G.S.R. 434(E), dated the 9th July 2020.

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