National Financial Reporting Authority powers expand with auditor filing duties, penalty enforcement, regulation-making and supersession controls. New sections inserted after section 132 of the Companies Act create a framework for the National Financial Reporting Authority covering auditor registration intimation, filing of returns and information, penalties for default and false statements, and constitution of the Authority Fund. The Authority may issue directions to auditors, impose penalties after inquiry, recover unpaid amounts as arrears of land revenue, and entertain appeals to the Appellate Tribunal. The provisions also bar civil court jurisdiction, protect good faith actions, confer policy-direction and supersession powers on the Central Government, and require transparent regulation-making with public consultation and periodic review.