The Ministry of Corporate Affair (MCA) on June 17, 2022 has issued the National Financial Reporting Authority Amendment Rules, 2022 to further amend the National Financial Reporting Authority Rules, 2018. This has come into force on June 17, 2022.
The following has been stated namely: -
• Rule 13 which specify “Punishment in case of non-compliance” has been substitutued namely: -
“Whoever contravenes any of the provisions of these rules, shall be punishable with fine not exceeding five thousand rupees, and where the contravention is a continuing one, with a further fine not exceeding five hundred rupees for every day after the first during which the contravention continues”
[Notification No. 456(E)]
