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of <h1>ICAI's Unauthorized Announcement on Section 139 Rotation Principles Challenged by Ministry of Corporate Affairs; Withdrawal Demanded.</h1> The Ministry of Corporate Affairs addressed the Institute of Chartered Accountants of India (ICAI) regarding an unauthorized announcement made by ICAI about the applicability of rotation principles under Section 139 of the Companies Act, 2013. The Ministry clarified that issuing such clarifications is within its jurisdiction, and ICAI lacks the authority to do so without prior consultation and approval from the Ministry. ICAI has been instructed to withdraw the announcement immediately and explain the reasons for its issuance without the Ministry's consent.
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