Under the Chartered Accountants Act, 1949, the Council of ICAI is composed of how many members, and who nominates a part of that membership?

Explanation: According to Section 9 of the Chartered Accountants Act, 1949 , the composition of the Council of the Institute of Chartered Accountants of India (ICAI) is as follows: ·         Total Membership: The Council consists of not more than 40 members . ·         Elected Members: At least 32 members are elected by the members of the Institute from among themselves. ·         Nominated Members: Not more than 8 members are nominated by the Central Government . These nominated members are typically individuals of high standing who represent government departments (such as the Ministry of Corporate Affairs), the Comptroller and Auditor General of India, or other regulatory bodies like the RBI or SEBI.