Section 24(3) in The West Bengal Industrial Infra-Structure Development Corporation Act, 1974
(3)(a)The State Government shall, within one month of the receipt of the annual financial statement, either accord its approval to the same or return it to the Corporation with such comments and suggestions as it deems necessary.(b)If the financial statement is returned, the Corporation shall, within one month of receiving it from the State Government,-(i)revise the financial statement in the light of the comments and suggestions made by the State Government and resubmit the same so revised to the State Government, or(ii)if it does not think fit to revise the financial statement, resubmit it in its original form to the State Government together with its replies on the comments and suggestions made by the State Government.(c)If the State Government does not approve of the financial statement as revised by the Corporation or if the financial statement is resubmitted by the Corporation without revision, the State Government may, within one month from the date of resubmission thereof, amend the financial statement as it considers fit and proper and forward the same so amended to the Corporation, and it shall be accepted by the Corporation.
