Section 28 in The M.P. Rajya Beej Evam Farm Vikas Nigam Adhiniyam, 1980
28. Accounts and audit.
(1)The Nigam shall cause to be maintained proper books of accounts and such other books as the rules may require and shall prepare an annual statement of account in the prescribed manner. The books of accounts of the Nigam shall be balanced and closed as on the 31st day of March each year. The annual statement of accounts shall be submitted to the Board of Directors within six months of the close of the financial year, failing which the Managing Director shall explain the delay and apply to the State Government for permitting the submission in another three months at the most.(2)The Nigam shall cause its accounts to be audited annually by such person as the State Government may direct.(3)As soon as the accounts of the Nigam have been audited, the Nigam shall send a copy thereof together with a copy of the report of the auditor thereon to the State Government and shall cause the accounts to be published in the prescribed manner and place copies thereof on sale at reasonable price.(4)The Nigam shall comply with such directions as the State Government may after perusal of the report of the auditor think fit to issue.
