Section 20 in The Maharashi Patanjali Sanskrit Sansthan Adhiniyam, 2007
20. Finance Committee.
(1)There shall be a Finance Committee consisting of the following members, namely :-(i)the Chairman of the Institute;(ii)the Director;(iii)two members nominated by the Executive Council from amongst its members; and(iv)an officer each of the Finance Department and the School Education Department not below the rank of Deputy Secretary to the Government of Madhya Pradesh, to be nominated by the State Government.(2)The Director of the Institute shall be the Secretary of the Finance Committee.(3)The members mentioned in clause (iii) of sub-section (1) of the Finance Committee shall hold office for a period of three years.(4)The Finance Committee shall have the following powers, duties and functions, namely :-(i)to examine and scrutinise the annual budget of the Institute and submit it to the Executive Council and to make recommendations on financial matters to the Executive Council;(ii)to consider all proposals for new expenditure and to make recommendations to the Executive Council;(iii)to consider the periodic statements of accounts and to review the finances of the Institute from time to time and to consider re-appropriation statements and audit reports and to make recommendations to the Executive Council:(iv)to give its view and to make recommendations to the Executive Council on any financial matter affecting the Institute either on its own initiative or on reference from the Executive Council or the Chairman of the Institute.(5)The Finance Committee shall meet at least once in six months and three members of the Finance Committee shall form its quorum.(6)The Chairman of the Institute shall preside over the meetings of the Finance Committee, and in his absence the members present shall elect a person from amongst themselves to preside over the meeting.
