Section 15 in The Central Electricity Regulatory Commission (Procedure, Terms And Conditions For Grant Of Transmission License And Other Related Matters) Regulations, 2009
15. Accounts of the licensee .-The licensee shall-
(a)maintain separate accounts for each business, including the business of the undertaking utilising assets of the project, in such form and containing such particulars as may be specified by the Commission and till such time these are specified by the Commission, the accounts shall be maintained in accordance with the Companies Act, 1956 (1 of 1956), as amended from time to time.(b)prepare from such records, accounting statements for each financial year comprising a profit and loss account, a balance sheet and a statement of source and application of funds together with notes thereto and showing separately the amounts of any revenue, cost, asset, liability, reserve, or provision which has been either:(i)charged from or to any other business together with a description of the basis of that charge; or(ii)determined by apportionment or allocation between the various business activities together with a description on the basis of the apportionment or allocation.(c)get the accounting statements prepared in accordance with foregoing clauses, duly certified by the Auditors in respect of each financial year, stating whether in their opinion the statements have been properly prepared and give a true and fair view of the revenues, costs, assets, liabilities, reserves reasonably attributable to the business to which the statements relate.
