MCA Revises Appellate Authority under Chartered Accountants, Cost Accountants, and Company Secretaries Acts

In an important regulatory development, the Ministry of Corporate Affairs (MCA) has officially amended the constitution of the Appellate Authority constituted under three key professional Acts:

• The Chartered Accountants Act, 1949
• The Cost Accountants Act, 1959
• The Company Secretaries Act, 1980

This change, notified through G.S.R. 433(E) and published in the Gazette of India on June 30, 2025, introduces a new member to the Authority—a move aimed at reinforcing the integrity, independence, and efficiency of the appellate system governing professional disciplinary matters.

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What Is the Appellate Authority?

The Appellate Authority was originally set up by the Central Government through notification G.S.R. 835(E) dated November 3, 2015. It functions as an independent statutory body responsible for hearing appeals in disciplinary cases arising under the three professional Acts mentioned above.

Essentially, it provides professionals—Chartered Accountants, Cost Accountants, and Company Secretaries—a neutral platform to challenge disciplinary decisions made by their respective Institutes:

• The Institute of Chartered Accountants of India (ICAI)
• The Institute of Cost Accountants of India (ICMAI)
• The Institute of Company Secretaries of India (ICSI)

The Authority ensures that disciplinary proceedings maintain fairness, transparency, and justice, free from any undue influence or bias.

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Key Highlights of the Amendment

Under the latest notification:

• The entry at serial number (2) of the Appellate Authority’s membership has been substituted.
• Shri Chaitanya Prasad, IAS (1990 batch) has been appointed as the new Member of the Authority. His address is officially recorded as 400B, Beverly Park 1, MG Road, Gurgaon 122009, Haryana.

This amendment reflects the government’s ongoing approach to revitalizing statutory bodies by bringing in fresh administrative expertise and leadership.

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Who is Shri Chaitanya Prasad?

Chaitanya Prasad is a seasoned Indian Administrative Service (IAS) officer from the 1990 batch. With vast experience in governance, policy-making, and administration, his inclusion is expected to add:

• Credibility through administrative experience
• Neutrality in appellate decision-making
• Efficiency in handling complex disciplinary appeals

His appointment underscores the government’s focus on ensuring that disciplinary processes across professional institutes are conducted in a fair, accountable, and efficient manner.

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Composition of the Appellate Authority

The Appellate Authority consists of:

• A Chairperson (usually from the judiciary)
• Members from various professional fields including administration and finance

This multi-disciplinary composition ensures that appeals are heard with:

• Judicial fairness
• Administrative wisdom
• Professional knowledge

The inclusion of an experienced IAS officer like Chaitanya Prasad strengthens the balance of perspectives within the Authority.

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Why This Amendment Matters

This amendment is more than just a routine update. It is part of a broader mission by the Ministry of Corporate Affairs to:

• Enhance governance and accountability in professional bodies
• Streamline the appellate process for quicker and more effective resolution of disputes
• Maintain the relevance and modernity of regulatory institutions that oversee India’s key professions

It reflects the government’s intention to ensure that regulatory bodies evolve alongside the growing complexity of the professional landscape, while upholding the highest standards of transparency.

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Effective Date and Implications

The revised composition of the Appellate Authority will come into effect from June 30, 2025, and will apply to all matters placed before the Authority from that date onward.

Professionals from the fields of accounting, cost management, and company secretarial services can expect:

• A fresh perspective in handling appeals
• Quicker resolutions
• Greater confidence in the impartiality of the process

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Conclusion

The appointment of Chaitanya Prasad, IAS, as a Member of the Appellate Authority marks another step towards strengthening governance in India’s professional regulatory framework. The Ministry of Corporate Affairs continues to demonstrate its commitment to maintaining the effectiveness, fairness, and transparency of statutory authorities.

📅 Published on: 04 July 2025
✍️ Author: CS Chhavi Goyal