Section 14 in The Punjab Ex-servicemen Corporation (General) Rules, 1982
14. [ Books of account to be kept by the Corporation. - (1) The books of account of the Corporation with respect to the following matters shall be kept at its head office, namely :-] [Substituted vide Punjab Government Notification No. G.S.R. 77/P.A. 33/78/Section 32/Amd. (5)/93, dated 27.9.1993.]
(a)all sums of money received and expended, and the matters in respect of which the receipt and expenditure takes place;(b)all sales and purchases made by the Corporation;(c)the assets and liabilities of the Corporation; and(d)such particulars relating to utilisation of materials or labour or to other items of expenditure as may be specified by the Board, if the Corporation is engaged in the production, processing and manufacturing of goods.(2)If the Corporation has a branch office, whether in the State or outside, it shall be deemed to have complied with the provisions contained in sub-rule (1), if proper books of account relating to the transactions effected at the branch office are kept at that office and proper summarised returns, made upto date at intervals of not more than three months, are sent by the branch office to the Corporations head office.(3)For the purposes of sub-rules (1) and (2), proper books of account shall not be deemed to have been kept if these do not reflect a true and fair view of the state of affairs of the Corporation or its branch offices and do not explain its transactions and are not kept in accrual basis according to double entry system of accounting.(4)The books of account and other books and documents of the Corporation shall be open to inspection by any one or more Directors during working hours or by such officer of the Government as may be authorised by it in this behalf. Such an inspection may be made without giving any previous notice to the Corporation or any officer thereof :Provided that a Director may be assisted by any person of his choice, in such inspection.(5)The books of account of the Corporation and its branch offices relating to a period of not less than eight years immediately preceding the current year (together with the Vouchers relevant to any entry in such books of account) shall be preserved in good order.
