Section 12(1) in M.P. Nagar Vikas Nidhi Niyam, 2001
(1)The Fund Management Committee shall maintain such books of accounts which are specified in Rule 8 and other hooks in relation to its accounts and prepare an annual statement of accounts and balance sheet in such form and in such manner as may be specified by the Government. The Fund Manager shall in accordance with the instructions issued by the State Government from time to time keep the fund under PD Account.
