Section 8 in The M.P. Krishi Upaj Mandi (State Marketing Development Fund) Rules, 2000
8. Board Fund.
- (i) Maintenance of Account.-Separate account of this fund shall be kept in Bank, Market Committee-wise account will be maintained for amount received in this fund.(ii)Utilization of Fund.-All those expenditure which are drawn as per budget approved by the Board, shall be paid from the above fund.(iii)Annual Accounts.-Annual Accounts of the Board and Balance Sheet shall be prepared by the Managing Director and all money acquired by the Board from any source or received by it and all amounts disbursed or spent shall be entered in the accounts.(iv)Audit.-Audit of Board's accounts shall be done by the Director, Local Fund Auditor, Madhya Pradesh. The Managing Director shall arrange to produce all accounts, registers, documents and such other relevant papers that may be called by the Audit Officer for the purpose of the audit. Explanation sought by such officer to eliminate any difference shall be furnished to him immediately. Accounts, after completion of the audit, shall be stamped and the accounts and copies of Audit Report, along with observations thereof shall be placed before the Board, Audit Report will be sent to the State Government along with the observations of the Board.(v)Expenditure.-Expenditure from this fund shall be incurred for the purposes mentioned in Section 44 of the Adhiniyam.(vi)Parameter for sanction of grant.-Parameter for sanction of grant shall be as under,-(a)For the first time established Market Committee, the grant not exceeding 2 lac rupees may be given for the establishment and construction of such minimum required structure as may be specified by the Board.(b)Financially weak Market Committees in the State will be given grant as per procedure and limit decided by the Board.(vii)Eligibility and other conditions for grant of loan.-Eligibility for loan and conditions shall be as under, Le. :-(a)Loan shall be given only to those Market Committees which shall pay to the Board regularly under Section 43 of the Adhiniyam.(b)First of all loan shall be given for basic facilities in the order given below, interest at the rate of 4% per annum :-
