Section 103 in The Maharashtra Universities Act, 1994
103. Annual accounts and audit.
(1)The accounts of the university shall be audited at least, once every year and in any in any case within six months of the close of the financial year by the auditors appointed by the Management Council from amongst the firms of chartered accountants whose partners have no interest in any of the authorities or affairs of the university.(2)The audited accounts shall be published by the university and a copy thereof, together with the copy of the auditor's report, shall be submitted to the Chancellor, State Government and, on receipt of such audited accounts the Senate shall consider and pass such resolution thereon as it thinks fit.(2A)[ The State Government shall cause the audited annual accounts of the university, received by it, to be laid before each House of the State Legislature.] [Sub-section (2A) was inserted by Maharashtra 14 of 2009, section 12 w.e.f. 24-03-2009.](3)The State Government may conduct the test audit or full audit of the accounts of the university at regular intervals by the auditors appointed by the State Government.
